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Showing posts from August, 2016

Achieving $300k cash before the clock hits 30

When I first started blogging (cue the first blog post), I set myself a goal to save $100k by 28.
$100k cash, excluding CPF.
I achieved this at 25.

I even thought my $100k would drop downwards after paying for flat, reno, kids. But who would have known that my chance to get a flat would only happen at 27, and my savings grew and grew?

$200k at 28
At 28, I hit $200k cash savings. It took me 3 years to grow another $100k. 
If not for the fact that I've been topping up $14k annually to mum and my CPF RA/SA, spendings on wedding, house related stuff and frequent holidays, I would have much more cash on hand. But, that can't be real, that's not living - those money have to be spent.

If not for the fact that I've pumped $80k over the past 7 years into stocks, of which the paper value is now only at $60k+, I'd been $80k "richer". The converse could be said if I've great investment capabilities to grow $80k to $100k 🙃

Anyway...
As I edge closer to 30 ⏰, I've ano…

DBS Visa Debit Card - 5% Cashback

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

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…