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Showing posts from October, 2018

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…

Goodbye BOC Smartsaver account. Hello DBS Multiplier

I've officially severed ties with my BOC Smartsaver account, after a good 2 years.

With the disappointing revision to the BOC Family card, which used to be the BEST credit card I had, it just wasn't worth keeping the bulk of my cash in BOC anymore.

Since Aug, I've jumped ship to DBS Multiplier and left the minimum balance of $1,500 in my BOC. Today, as I passed by the BOC branch at Jurong East, I decided to just close the account. No point leaving my $1,500 there when I can transfer it to other accounts to generate more interest!

As I stepped into the BOC branch, I saw restless ladies gossiping at their seats. I was the only customer, but nobody bothered to serve me. I even had to ask if I'm supposed to take a queue number, but nobody came to assist. Over at DBS, the customer service experience would be way different, in a positive way.

BOC has gotta up their game in terms of their cards/accounts perks and staff attitude/customer service man.

That said, it was quite a …

How I manage to cover the full cost of my wedding

For people my age, wedding bells have been ringing.

A few years ago, we started out in the workforce, fresh from school, trying to earn our keeps and manoeuvre ourselves in the dogs eat dogs world.

As we earned our keeps, we also knew we had to save for impending cost bombs - for house, for wedding, for kids, and for retirement.

Back then, I set my goal to save $100k and I managed to hit it at age 25. I knew time was on my side and I had keep my expenses low in order to save. I wasn't earning big bucks - I was just a normal salaried working, earning less than what my peers were earning.

Likewise, when I planned for my wedding, I knew I had to keep my expenses low as well because my partner and I were paying everything out from our pockets. I was the Chief Finance Officer budgeting and making sure we clock rebates, and getting the best deals out of everything. I was also the CEO of my wedding, because I dictate most of the "to-do" and "not to do" list.

Now that …