Author: Simple Budget, Simple Life

The start after a break

It’s 1 Nov tomorrow. After a decent break from work, it’s back to the grind. During my break, I had various thoughts: A) Quit this job – because I don’t know what I’m learning – there’s always so much shit to clear up and my bosses cannot lead – too much things on my plate and the bosses will always say they are giving me exposure – don’t wish to stay till promotion because it could be at least 2 more years (that’s a long time) – bosses don’t communicate and don’t give proper directions, leading to wastage of...

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[Guide] How to deposit cash to parent’s CPF?

The thought of depositing cash into CPF struck me when I read some blogs on reducing tax reliefs and also earning the decent interest rates given by our government in the current low interest rates climate. Since then, I’ve been researching on the pros and cons of this move and concluded to transfer $7,000 cash into my mom’s Retirement Account. Here’s why: 1. To reduce my tax payable My annual income this year is estimated at $60,000+. The estimated tax is around $2,400, assuming there are zero reliefs. By topping up my mom’s CPF, I’ll get a relief of...

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Should credit card companies inform us on the statement cycle during card activation?

I recently signed up for the HSBC credit card so that I could get the Samsonite luggage with my >$1k spend.   Let me just say that their application forms/page are not user friendly and their processing time was really long. I called the HSBC customer service to enquire when I’d receive the card, and they said mine was still in processing stage despite me making a few calls previously to ensure that I’ve submitted all my docs and that I need the card by end of the month. They said they’d expedite. Which, they did. Because on the...

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Being low maintenance helps in saving $

I am a self-proclaimed low maintenance lady and I attribute this lifestyle and my personality of wanting to make my money worth (most of the times), to why I manage to save $100k at 25. I love browsing through famous instagramers’ feed. From their immaculate makeup, fashionable outfits, to their pretty manicures, I’ll also do a double tap. But, I’ve never bear to splash cash to be like them. I’d rather have spend my money on food than makeup, and nice clothes that doesn’t cost a bomb. Here’s how I keep a low maintenance lifestyle: 1) I don’t do...

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Driving License. To get or not?

It’s rather funny that I’m talking about this at this age, when most of my peers receive their licenses after “A” levels at 18. But, I’ve never been bothered to learn driving. Here are the reasons why: 1) My family has no car and the only one with a license is my dad Many of my peers have family car. They were used to being driven around by their parents, and learn about driving through their trips. But our family never had a car. I had no sense of cars, driving or traffic rules and laws. Driving was unfamiliar...

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DBS Visa Debit Card – 5% Cashback

Good lobang must share. A few years ago, when I had no income, I live by my debits. Straight after being employed, I signed up for a few credit cards to milk some rebates. I’ve never paid much attention to debits offering rebates cause their rebates were so little, until now. DBS Visa Debit offers 5% cashback through Visa paywave, Apply Pay, Samsung Pay and Android Pay. The cashback is subject to a $50 cap per month. You should also keep to 3 times or less cash withdrawals at DBS/POSB ATMs. Good for me, since I don’t withdraw cash...

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Hello BOC Smartsaver

A little too late, or it’s never too late? BOC Smartsaver has been around for some time now. I’ve heard of it when their promo came out, but kept to my OCBC 360 account. I did my sums previously and concluded that it was best for me to keep my money at OCBC. But I redid my sums recently after my brother reminded me about this account, and, DANG, the minimum interest rate I could get was at least a 2% VS OCBC’s 1.7% with salary crediting and bills payment. What’s making it more attractive is that, since I’m...

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My tips on how I accumulated $100k before 28

In my previous post, I talked about how I’ve hit my goal of saving $100k cash before 28. Here are some of my personal saving tips: Park your money in a high interest savings account I started off with POSB Kids Savings then switched to FRANK account in Uni and then to OCBC 360 after I started work. The interests offered by OCBC 360 is so far one of the best. 1.2% on salary crediting and 0.5% on paying 3 bills. Clocked my expenses on other credit cards instead of OCBC, so I only have 1.7% p.a on my...

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$100k before 28

pic from google images Well, hi guys. I’ve been putting off this post for a few months because I want to be completely sure that after deducting my expenses, I indeed have that amount I’ve goaled. So here goes. I officially have $100k cash savings before 28. But to set things right, I’ve been saving since young. For the purpose of this post, I took out my POSB Kids Savings passbook which was set up when I was 9. I still remembered that the first amount put in was $1, and I received a POSB squirrel raincoat! My parents...

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Income Tax

When you see this logo on your envelop, you know what it means ;) I always thought that income tax is a good thing – you tax almost everyone and people who earns more get tax more. It’s one way of seeking equity. I still think income tax is a good thing. But now that I’ve started worked and is contributing to the tax, I kinda feel the pinch…especially when my income tax jumped significantly. Unlike my bf, I can’t claim tax relief. My parents are both working and earning at least above $1k, no handicapped siblings (CHOY AH!),...

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What’s the meaning in my life?

Take a good 5 minutes to read this article. We all know life is short, life is fragile and life is unpredictable. Who knows if we’ll die the following day, just like how Christina Grimme died unfairly. But, we don’t live each day having this thought on our mind every single time. Honestly, how is it possible, and how is it healthy if you have that thought…constantly? We’ll be so risk averse that we could do nothing. And maybe, doing nothing could lead you to death…. It’s early morning on 13 Jun and I’m on leave. On a break...

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The $10 bet

Having dated my partner for 4 years and knowing that he’s the one I want to spend the rest of my life with, the natural step is to purchase a flat together. I thought purchasing a flat was going to be easy and smooth – apply and you’ll get it. Haha, I probably thought I was very lucky. But I was so wrong. It’s all about the timing and luck – whether there are estates you like and whether you’ll get a unit based on your ballot number. I’ve applied for 2 rounds of BTO since 2015 but were...

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#prayforsweekeat

At 7.30pm, my fiance messaged me. JUST IN: Finance Minister Heng Swee Keat collapsed during Cabinet meeting; CT scan shows he had a stroke says PMO. I was shocked. Judging by the number of posts published by the various MPs and Ministers, we could tell that his stroke was a serious one. I’ve have never met him, and we don’t know each other, but I was affected.  I was possibly feeling concerned because he is a respectable Minister yet, as with all humans, succumbed to stress, leading to a poor health. Many people are like him. Or are on...

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Budget Tracking: Apr 2016

Another month. Again? April zoomed by so quickly that I couldn’t remember much that happened. Luckily, I take note of my expenses giving me an inkling of what I did/spent on.My expenses in Apr were as follows: Fixed expenses: $525Variable expenses: $1,355.07 Food – $260.82 Had 5 western food this month such as Astons, Tender Chicken, Texas Chicken Treated my family to korean food @ Masizzim via my groupon voucher – not fantastic, but something special for my folks but I reckon they prefer Chinese food more :P btw, even with my $50 voucher, I had to top up $43...

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Budget Tracking: Apr 2016

Another month. Again? April zoomed by so quickly that I couldn’t remember much that happened. Luckily, I take note of my expenses giving me an inkling of what I did/spent on.My expenses in Apr were as follows: Fixed expenses: $525 Variable expenses: $1,355.07 Food – $260.82 Had 5 western food this month such as Astons, Tender Chicken, Texas Chicken Treated my family to korean food @ Masizzim via my groupon voucher – not fantastic, but something special for my folks but I reckon they prefer Chinese food more :P btw, even with my $50 voucher, I had to top up...

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