Author: Early Retirement SG

When I may increase my spending

I always wonder… why do people like buying stuff? Yes, there’s a lot of reasons. And buying stuff also could mean a lot of things. Like… Buying an iPhone, Or a car, Or a Lexus, Or a new TV when the old one is still working, Or some small toys here and there, couple of bucks here and there, Or a new camera, Or a new PC… The list goes on. I’m talking about what I deem as unnecessary spending. And it’s not necessarily consumerism. Sometimes it’s just small toys, like turning $3 at the gatcha machine for fun....

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How it all began…

I was recently reminded of how it all began… I’d actually forgotten about it. Why I left my job, why I thought about “early retirement”, why I tried to accumulate a large AUM to dump my job to be financially free. Ok I’m not entirely financially free yet. But I was reminded about how I thought about it and how it all began. I was around 27 years old in my old job. It was getting boring and I was wondering if this was all there was to life. I mean like… that’s it? This deary corporate drone life?...

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DBS Multiplier account 3.5%

Looks like the DBS Multiplier account is trying to up it’s game. We received an email that they will be adjusting the max interest to 3.5%. But no details are available yet. 3.5% it’s pretty good, but I’m sure it’s going to be hard to earn that money. Nonetheless, come 1 Nov, I’ll try to update how the interest works and how to obtain that interest rate. It’s highly unlikely that any of us will be getting the full 3.5% thought, but I’m sure we’re all interested to find out how it’s going to work. Stay tuned…...

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You need to know this before being an Uber driver

What if I told you… I will pay you $3000 per month to do a task. You just work a certain number of hours, between X time and Y time for Z number of days per week. Sounds like a normal job right? Apparently some jokers offered this plan to prospective Uber drivers. Some folks want to try driving Uber but are concerned that they won’t earn enough income in a month. So these jokers approached these prospective Uber drivers to offer them this plan. The drivers would drive for a certain number of reasonable hours everyday, for 5-6...

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The Bitcoin Bubble

I did a short post on why Bitcoin has value previously. Doesn’t mean I don’t think it’s a bubble. It has value cos people think it should have value. Just lika diamonds or gold. They don’t serve any real purpose but people just use them as a medium of exchange. So why do I think Bitcoin is a bubble? Well. Firstly, there is limited use for it currently. You can buy it, trade with others, but besides that, there’s no real use for it. You can hardly use it to buy something. If you bring a block of gold...

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UOB Stash Account

​Max effective interest at $100,000 Any amount more than $100k only earns 0.05% interest. The good thing about this account is you can withdraw and deposit again and as long as the monthly average balance is more than last month’s balance you still get the bonus interest. At 0.825%, it’s pretty good for a simple deposit account. However, how many people have $100k sitting around ready to park in such an account? If you’re depositing only $50k, then the effective interest is only 0.65%. If you’re depositing between $50k – $100k, then the EIR is somewhere between 0.65% –...

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What are you paying for?

I like to compartmentalize things. Break things down to simpler parts before stitching them together again. So I thought… what do I pay for when I’m buying something? What am I trading off? Which part is rationale or not? Is something more expensive cos it’s better quality? Or am I just paying for convenience? Or am I buying a feeling? Or what? So I thought about a few scenarios… Currently I own a XiaoMi phone. It’s cheap. I buy it as a phone. Nothing fancy. But I’m open to discuss about better specs and stuff. So I bought the...

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A quote from my dad

I didn’t really like how my parents handled their finances. They never talked about it. So both parties never had any communication of their assets and what they were doing. It was pretty much a mess. Also, somehow, they weren’t really frugal. They didn’t buy a lot of luxury products but there was a lot of unnecessary leakage, due to lack of communication. So from a very young age, I had to filter out stuff that was good to learn and stuff that I shouldn’t follow. Cos what they said and what they did were different so I needed...

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It's been a rough month

I’ve been a bit upset recently. A couple of rebates / discounts didn’t work as it should and I had to make additional effort to call / email those places to try to make them work. I don’t really like doing that. Cos it’s like I become at their mercy cos there’s nothing I can do if they just decide to deny me. CIMB is still giving me headache for the remaining $25. UOB One card has some issue on my card so waiting for $50. UOB One card has some issue on my wife’s card so waiting for...

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Do you live as one entity?

So I do talk to my other friends about the relationship between my wife and I. And how I try to rein in her spending and how we maintain our frugal lifestyle. Some friends are typically nonchalant about it cos they don’t care about spending. Some think, I’m lucky to have a wife who is ok to listen to me and accept a frugal lifestyle. And other friends would say why am I bothering about her spending if she is spending her own money. Now, everyone has their own views on what a relationship should be and everyone is...

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AIA Vitality

There’s this scheme. https://www.aiavitality.com.sg/memberportal/ My wife brought this to my attention. I didn’t do too much research. I’m a bit half half on how good this is. So if you’re already an AIA customer, or you can start by purchasing one of their policies. Then you can download this app and subscribe to it by paying $3 per month. Every month or week, if you do some healthy thing, you earn points which can be exchanged for vouchers. So if you earn 250 points in a week, you can exchange that for $5 Cold storage / Starbucks voucher. Quite...

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Where does happiness or anger come from?

Story: The Empty Boat A monk decides to meditate alone, away from his monastery. He takes his boat out to the middle of the lake, moors it there, closes his eyes and begins his meditation. After a few hours of undisturbed silence, he suddenly feels the bump of another boat colliding with his own. With his eyes still closed, he senses his anger rising, and by the time he opens his eyes, he is ready to scream at the boatman who dared disturb his meditation. But when he opens his eyes, he sees it’s an empty boat that had...

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My wife is not frugal (part 2)

Adding on to my previous post. Over the weekend, we had a strongly worded discussion… well, not really a discussion. It was one sided. It started when she mentioned something about a watch… I forgot the actual comment. She has been talking about watches on and off and I thought that we had already settled that topic. So she had the impression or desire… That once you reach a certain level in your/her career, that the folks there would have at least a nice watch. Not too pricey. Around $2000, a Tag or Omega. And so she was like....

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If something is too good to be true…

We’ve all heard it before. If something is too good to be true, it usually is. There’s no free lunch. I’ve been thinking about this recently. My wife has received a free 3 nights stay at some hotel in Bali. For this stay, we just need to attend their timeshare presentation during one of the days we are there. They say it’s expected to be just 1 hour. To claim it, we need to give them a copy of our flight tix AND a credit card. (So they already have my cc details.) So I think… Yea right… got...

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What if you were happy at work?

Let’s assume we are all gym instructors. We all love our job, we earn $3k a month, and work 5 days a week between 8am – 8pm. The job is pretty flexi so there’s a lot of free time in between. We encourage people to achieve their fitness goals. And we really like what we do. There’s not much career progression but that’s pretty ok. Usually, as gym instructors, we do not have other qualifications to do other work. So we haven’t experienced a 9am – 6pm working culture in a political environment. We haven’t had the feeling of earning...

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