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

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 …

Should credit card companies inform us on the statement cycle during card activation?

I recently signed up for the HSBC credit card so that I could get the Samsonite luggage with my >$1k spend.

Let me just say that their application forms/page are not user friendly and their processing time was really long. I called the HSBC customer service to enquire when I'd receive the card, and they said mine was still in processing stage despite me making a few calls previously to ensure that I've submitted all my docs and that I need the card by end of the month. They said they'd expedite. Which, they did. Because on the day of making the phone call to the customer service, I received my card. Now, didn't the customer service officer told me that my application is still in processing stage? I reckon the guy just didn't know what was going on and would tell all applicants that their cards are in process. Not a good impression on their banking services.

Anyway, I was relieved to get my card on 30 Sept because I needed to pay a payment of >$1k. I immediately activated my card and used it for my purchase. And, I'm now waiting for them to mail me the letter of redemption :)

Days later, on 5 Oct, I received a letter from HSBC informing me to pay the bill.
1st thought - ask you to process my credit card application you take so long, ask me to pay money, so efficient
2nd thought - I made my purchase on 30 Sept, and I received the bill within a few days? When is the statement cycle?
Turns out, the statement cycle for my HSBC card is from 5 Sep to 3 Oct and the posting date of my transaction was on 3 Oct.

I just thought that it would be so much better if all banks list out their statement cycles for transparency sake. In the case of using the HSBC card, my intention was just to make a one-time spend and get the luggage. But what if, I wanted to accumulate my spends within a statement cycle to receive rebates?

The same point goes for my BOC Family Card. I wanted to accumulate $500 spend to receive 7% rebates on dining and 5% on groceries. I even went to NTUC just to buy vouchers to hit the $500 cap. But, crap, the posting date for my NTUC vouchers exceeded the statement cycle date. And, I lost out on the rebates for my previous dining spends :( If only I knew that my statement cycle was from 24 Aug to 23 Sep.


  1. Just curious, can you contact the bank to change the statement cycle?

    1. Hi, I think it's possible. To me, the best statement cycle would be by calendar month - 1st to 30th of the month. But, many companies don't have such cycles, so even if you change the statement cycle to another date, you will still need to remember when the cycle is.

      As for my HSBC, I'll just leave it as it is since all I want is the luggage and I've fulfilled the condition.

  2. Happened to me too.
    HSBC practices can be seen to be very smelly.
    They approve very fast then delay sending the card. By time you received, the billing cycle ending.
    That's why hsbc need so aggressive marketing tactics.
    What you do to your customers, your customers will do back to you.


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