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Showing posts from August, 2016

Mid-year review: Goal met of $200k cash at 28. $400k+ net worth and Astrea bond V

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Half a year gone.

I still have not gotten my keys to my new home and am still childless. Ok, TMI.

On financial front, I've been seeing a steady increase in my net worth. As at my last update in end 2018, my net worth was at $372k.

Half a year later, I've successfully crossed $200k cash savings (previously it dropped as I topped up my MA) and exceeded $400k in networth. I may be able to hit $450k by end year but will just need to carve out some money for renovation and home stuff.

Most gains came from employment. While I lament how sick I am of work, it is my main source of $. I've not added any stocks and can never not live off my portfolio for passive income. It is with salary crediting that I've received 1.85-2% interest on my DBS multiplier anyway.

I've been thinking if I'm making my money work hard enough. I occasionally browse the SGX hoping to see some stocks to purchase, but am not comfortable enough to make the move.

Since Jan till date, my transactions …

DBS Visa Debit Card - 5% Cashback

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Good lobang must share.

A few years ago, when I had no income, I live by my debits. Straight after being employed, I signed up for a few credit cards to milk some rebates.

I've never paid much attention to debits offering rebates cause their rebates were so little, until now.

DBS Visa Debit offers 5% cashback through Visa paywave, Apply Pay, Samsung Pay and Android Pay. The cashback is subject to a $50 cap per month.

You should also keep to 3 times or less cash withdrawals at DBS/POSB ATMs. Good for me, since I don't withdraw cash from POSB.

Note that the debit comes with a $2,000 debit limit. I'll probably spend $1000 max to milk the 5% cashback via Visa Paywave.

One more thing to add to my tips on how I accumulate $100k before 28 :)

Hello BOC Smartsaver

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A little too late, or it's never too late?

BOC Smartsaver has been around for some time now. I've heard of it when their promo came out, but kept to my OCBC 360 account. I did my sums previously and concluded that it was best for me to keep my money at OCBC.

But I redid my sums recently after my brother reminded me about this account, and, DANG, the minimum interest rate I could get was at least a 2% VS OCBC's 1.7% with salary crediting and bills payment.

What's making it more attractive is that, since I'm now able to spend $500/mth for my bro's expenses, the interest rate I could receive every month has now reached to the eye-popping 3.55% interest p.a!


Why didn't I think of opening this account soon ah? 
The following day after I did my sums, I headed down to the BOC branch and opened my account. I was lucky to be the first to enter at the off-peak hours. Btw, thumbs up to the friendly staff at the Westgate outlet. My account was set up on the spot.


It he…

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