Adulting starts. ~$2.2k Monthly Household Bills, Referral Codes (MyRepublic, Sembcorp, Circles Life) and $7k top-up to SA

My official adulting started when I moved into my own crib.

Older folks will probably laugh at the Millennials. Yes, I won't dispute the fact that we have been well pampered by our parents. I know very well that despite not growing up in a middle-income family, my mum has spoilt us by doing practically everything for us. For that, I'm super grateful.

So, with the move to my new home comes new responsibilities in the new year. Honestly, it hasn't been that bad living an independent life. Sure I dont get breakfast or hot meals prepared at every meal time, nor things get magically cleaned, I am getting used to this life. I guess that's because I'm not a stickler for super clean house (I can live with organised mess lol and have yet to unpack all my items HAHA), and I have modern gadgets to save my life, such as:
robot cleaner to clean the floor everydayfiltered water so there's no need to boil waterinstant hot waterwashing machine that's on when we reach full …

Thoughts on HDB housing loan and 4th year topping up CPF SA

Each day passing is one step towards old age.

Unknowingly, we are in mid 2019.

Top-up to CPF SA

Anyway, with my bonuses in, I decided to park $7k into my CPF SA for tax relief purposes.

I've always been saying that I should do the $7k voluntary top-up at start of the year to gain extra interest, but have never done so hahaha

Got my hubby to do the same as well...not without some nagging and me taking control of the transfer ๐Ÿคฆ‍♀️

Hubby wasn't super keen as he preferred to keep the cash to pay off our housing loan ASAP.

His thoughts on our housing loan

  • For context, our balance to pay is at $500k+ ๐Ÿ™ƒWe are paying equal amounts for the home.
  • Wipe out our CPF, leaving $20k in OA
  • Pay $100k cash upfront (or even more if we can afford) - he feels our investments does not beat 2.6% interest charged by HDB for loan. This is true given majority of our money in savings accounts, SSBs, FDs which gives at best 2% interest?
  • For the remaining amount, to get a 25 years loan
  • Try to pay our loan with full cash each month and not touch our CPF ๐Ÿ˜ฒ
  • Pay off housing loan ASAP using bonuses to reduce loan ๐Ÿ’ธ
And finally, to sell off our HDB after 5 years for profit which I object since I want to stay in there forever ๐Ÿ˜›That's another topic for next time!

What are your thoughts to this? For those who has been there done that, how did you pay off your loan?

Comments

  1. Hey thanks for this amazing post. Would love to read more of such blogs. You can also have a look at housing loan for more information.

    ReplyDelete

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