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Showing posts from August, 2019

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 …

PSA - Free staycation for $400 spend plus $50 credit?!

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Fancy a free staycation at M Social Hotel and a $50 credit? 
If you signed up for the FRANK credit card, you'll get the $50 rebate and receive a free staycation with $400 minimum spend.
The last I had a FRANK card was years ago. Back then (think 2012), FRANK account was suitable for undergraduates with their attractive interest rates and customised credit card designs. Their FRANK card was awesome as I recalled a 5% online rebates with low minimum spend.
As usual, good things don't last. When FRANK account offered pathetic interests compared to other salary crediting accounts and their FRANK credit card became unattractive due to it's minimum $400 offline spend to start clocking rebates, I cancelled it immediately.
Until recently when I spotted this:

The credit card still sucks but by spending $400 for a free staycation? Count me in! Furthermore, I received a $50 credit by signing via myinfo which is effectively a 12.5% rebate!

Take note that the free stay is not the loft…

Fully paid off HDB during key collection. Is it wise?

I've a happy problem now.

I'm expected to get my keys by end this year. I was deliberating on the options to settle the loans - whether to pay off as much cash as we have, to minimise the loan we have.

By some stroke of luck, our parents are extending their money to us...with interest of course, but slightly lesser than HDB loan of 2.6%. Works for us since the interest we pay them is better than what the banks give.

With this loan, plus wiping out our CPF (leaving $20k behind), we can actually pay the remaining  with our savings at point of key collection.

This is our scenario, amounts adjusted for simplicity:

Remaining to pay after downpayment$550,000Parents loan$200,000CPF OA$100,000Remaining balance (to pay using cash?)$250,000
And, I'd have paid off my HDB at point of key collection (though effectively, we still owe our parents money with interest).

Use Cash, Grow CPF
Our idea is to use as much cash where possible.

First, the interest generated from our savings accounts…

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