Skip to main content

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…

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 everyday
  • filtered water so there's no need to boil water
  • instant hot water
  • washing machine that's on when we reach full load
  • electric laundry rack that makes drying clothes more fun
  • induction hob which is wayyyy better than gas hob - cleaning is a breeze, and food gets cook quickly plus there's timer function
  • steamer which makes me question why I need an induction hob since I dont really cook
If anyone is keen, let me know and I can blog about the cost of my household items :)

Anyway, despite having my own home with cooking accessories, I've been pretty much eating like a poor student lol. I thought I'd have more joy cooking, but I rather sit in front of my laptop browsing videos. When meal time comes, I cook simple cheap blob meals like steaming sweet potato and broccoli; or cooking korean ramen to which my bro said - "you are so rich, but you live like a beggar". Can't deny how cheapo I am, because I don't bear to spend extra $ on grabfood delivery charges 🤭I am also amazed (not) at how lazy I am to not head down to dabao food hahaha

Also, having our own home meant lesser trips outside. I don't crave heading out to fancy restaurants or cafes anymore. Maybe it's an age thing or I've had enough so it's no longer a novelty. That would give me more reasons to save my $$ because............I've got a lot more things to pay for!

Bills to pay ~$2.2k/month

Now that I've my own house, the number of bills just keep rolling. Thus far, I've:
  • MyRepublic broadband Ultra 1 Gbps @ $38.69 (use my link to enjoy this price plus free wifi router and free home voice subscription. UP $42.99)
  • Sembcorp electrical bill at 0.165 $/kwh (you can use my referral code @ XJKRDXH5 to get $20 bill rebate), est $50/month
  • SP water bill and refuse removal ~$16 (will be higher since I havent stayed a full month)
  • Circles Life hp bill @ only $7/month x2 (use my code K2SOBZK5 to get $38 off registration fee + 3-months free Unlimited Data add-on)
  • Monthly housing payment of ~$1900
  • Town council fee ~$100
These does not include:
  • Annual Property taxes for 2019 and 2020 (~$17/month)
  • Insurance 
    • NTUC Enhanced Income Preferred ~$167/month for 2
    • AVIVA Mindef Group Insurance ~$45/month for 2
  • Income tax split into 12 mths instalment ~$290/month for 2
  • Monthly transport of $200 for 2
  • Monthly allowance of $1000 to parents
  • Groceries which I dont have a good estimate yet, est $100/month
  • Food est $500/month for 2
These will already push our monthly expenses to >$4.5k 😱

Guess I can't say I want to quit my job on a whim!
On a side note, I have also made a $7k cash top-up to my SA. This will be my 5th year topping up my SA and probably the first time I made a top-up in Jan to maximise the interest. This will bring my total CPF closer to $150k :)

Comments

  1. Congrats on moving out! It's like that at the start but you will get used to the monthly household bills. All the best!:)

    ReplyDelete
  2. interested to know more about your filtered water machine.

    ReplyDelete
  3. Congrats on moving to your new place!

    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. <--- That was what we were feeling too!

    robot cleaner to clean the floor everyday <--- This is a life saver/best investment, like one chore less to do. lol.

    ReplyDelete

Post a comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

Extremely bad start with UOB One

With the influx of posts on social media re UOB One (psst on grabpay) and the receipt of my house keys, I decided it was the time to sign up for a UOB One account plus credit card.

It was gonna be the best tool for household joint expenses and joint savings.

However, I've faced multiple hiccups that made me VERY frustrated....WHY ME?!
1. Delayed approving process led to losing out of sign up bonus
First, I signed up for the UOB One card and Account in early Oct through Singsaver's promotion. The promotion said that I'd get to enjoy cash incentive for registration + UOB's promotion of $80 cash credit with min $1k spent within 30 days of card approval. Mind you, these terms were stated to end on 31 Oct, extracted below:

S$80 Cash Credit for UOB One Account: Limited to the first 500 new to UOB Deposits customers who either (i) deposit and maintain $5,000 or (ii) credit their salary, into their new UOB account for 6 consecutive months. Terms and conditions of the UOB Online …

What the luck? DBS and OCBC banking tokens died!

What luck. My ibanking tokens went dead one after another.

OCBC Token

First was my OCBC token. It said "low battery", but I ignored it.

And when I finally need to use it, it was dead. Granted that I could use SMS OTP, I had to make a big transfer to other banks and it was over the withdrawal limits. And to do that, I needed the ibanking token.




And serve me right for not activating the onetoken.

In the end, I had to call in to OCBC call centre for a replacement. 7 working days, they said. What a long wait.

In the midst of it, I needed to make my interbank transfers. I even went down to OCBC bank and explored a stupid manual way i.e to withdraw cash and deposit into the other bank. But the moment they told me they ran out of big notes, I got scared.

While waiting for the token to arrive, I figured I could actually do transfers in smaller amounts, but had to bear with a daily cap. Sigh.

And, one week later, my OCBC token arrived.

How efficient.

DBS token

And it was time, the DBS …

Ending 2019 with extra $6,000 in CPF

One of the best feelings in the world is seeing more $ in my accounts.

At the end of 2019, I received an extra $6,000 for my CPF.

Total CPF stands at $140k. I intend to top up $7,000 into my SA this month for tax-relief purposes.

Have you checked out yours yet? :)