Why I Am Staying With OCBC 360… For Now

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I received an SMS from OCBC about the new updates to the OCBC 360 account and after a couple of clicks, I was greeted with this: Basically, OCBC 360 has regressed from an amazing product three years ago to a good product two years ago and is now just an ok product at best. This is reflected by the many (somewhat vitriolic) blog posts about this change during the past 24 hours. Although I am … [Read more...]

OCBC 360 updated (and downgraded) again.

Once upon a time, OCBC 360 together with the OCBC Frank credit card, was my favourite combination to get higher interest income on my savings. I just had to spend $400 with my Frank card and pay 3 bills online and I would get a 2% interest rate on my savings. With no monthly salary to credit into the account, that was the best I could do. Then, the benefits were revised and suddenly my … [Read more...]

UOB ONE Card cash rebate and the things we do.

I was chatting with a friend and ASSI guest blogger this evening about credit cards. He told me he had to spend $1,000 each month on a credit card recently in order to get a $100 rebate at the end of the quarter. OK, I think most of you would have guessed which credit card this is. Yes, it is the UOB ONE card. Anyway, I have the same card but I make sure I spend only a bit more than $500 a … [Read more...]

Take home loan from bank and buy unit trusts!

Hi AK, I'm new to your site, saw quite a few interesting post from you.. Wonder if I can get some advise and directions to investment... Have $50k spare cash, now searching for what to invest... I have a $500k HDB housing loan. Some financial advisors asked me to switch to bank loan. Instead of using my spare cash to clear my housing loan, look for an investment product which is stable … [Read more...]

$3K salary a month but saving $16K this year!

Hello AK, How are you? One year ago i've start following your blog and chatting with you via FB as well. I got so much things to share and update you. After completed my private degree, i have changed a job and income increased from 2.4k to 3k.  Some of my friends are still earning more than me. i was so stressful to keep up with the market and expenses. But thanks to AK's Blog, everything … [Read more...]

Family is financially healthier after retrenchment.

I won't be wrong to say that many workers live in fear of retrenchment because they are not financially prepared. Many are wage slaves and are utterly dependent on their earned income for daily expenses. The problem is that many are not even aware of this. I have shared stories from readers who have been retrenched before. Retrenchment is a terrible thing if we are not prepared for it and … [Read more...]

Three attributes of a wealthy peasant.

"Basically, the more you catch, the higher your CPPF." Wait a minute! Was that a coded message? The more you top up, the higher your interest income from CPF? I anyhow guess one lah. Life can be unfair. Why am I not born into a super rich family? Why am I not born with super model good looks? Why am I a peasant? Oh, did I hear someone say it is unfair that this peasant is relatively … [Read more...]

12 Months of Savings Guide

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12 Months of Savings Guide Each month brings new challenges, from the holidays and Valentine’s Day to the back-to-school shopping frenzy in late summer. So with that in mind, here are 12 ideas to help you save more and spend wisely one for every month of the year January Are you stepping into the New Year and reflecting on the spending you made on holiday presents? Pretty sure you'll be … [Read more...]

How has this investment of mine perform?

In January last year, I deposited a good amount of monies in a one-year fixed deposit of a bank offering interest rate of close to 2%. That was at a time when banks were dangling carrots of higher interest rates to retail savers. A year now, from what I have been reading, the fixed-term interests have not been as appealing as those a year ago. Overall, though the interest earned from my fixed … [Read more...]

Why lazy people "want" to continue working?

(I salute Tan Hock and Wilson Poh.) An exchange with another blogger. Blogger: Just thought I'd share this since many investment bloggers (whose plans, like mine and yours) are to live off investments; Not sure if it's because a significant number do not understand the trade-offs involved nor the aspirations of passive investors, but it is a poorly conceived notion that living off … [Read more...]

Holistic approach to a secure financial future.

(Decide how much income you will get from anasset and pay a fair price for that.) I am always happiest reading happy stories. I mean who wouldn't be? OK, if you need a reason, well, they are easier for me to reply to compared to sad stories. LOL. It is true that happy stories are easier to reply to and that makes me happy but I am happiest with happy stories because they are an affirmation of … [Read more...]

Average income workers have a choice to be rich!

I went out to lunch with my mom before sending her to the hospital. I went to a supermarket nearby to buy some chocolate which was on special offer before going to a bank to enjoy a cup of tea while waiting for her to call when she was done. I like buying things at knocked down prices (i.e. the chocolate) and I like free (i.e. the tea). Anyway, there was a big screen TV right in front of me … [Read more...]

8 Investments To Beat The Time and Money Paradox

Time and Money Paradox Time flies. Do you remember playing soccer with your primary school friends like it was yesterday? Do you also recall the crazy DOTA and CS late night gaming sessions with your buddies? Somewhere during the phase of my life called “growing up,” I was told to study hard so I can eventually be “somebody.” According to the Father-Mother-Dictionary.com, the definition of … [Read more...]

AK showing off his CPF-SA numbers again?

(4 things you need to know about your new CPF statement.) I hope my blog has not caused too much trouble for the authorities. Just like my passive income numbers, my CPF-SA numbers seem to have garnered a following as readers reminded me on Facebook that it is time. Even Facebook reminded me that it is time. I guess sharing my CPF-SA numbers is inspiring to many readers and it helps them to … [Read more...]

1 year closer to financial independence – great 2016, awesome 2017?

2016 will be a critical year in my life as I began to take a more active approach to achieving my financial goals. Let's evaluate how I fare and set new goals for 2017. Income - Evaluating my source of money Total income (after CPF deduction) for 2016 is broken down into 4 main categories: Salary - 67.4% Bonus - 30.5% Benefits - 0.9% Others - 1.1% Benefits are subsidies which I … [Read more...]

Power to become financially stronger is within us.

Although there were not many comments in my blog when I asked if I should continue talking to myself in 2017, I received many emails and also messages in FB. They are all positive (so far). I am particularly touched by a couple of emails. First, this email from a reader of modest means: Hi AK, As the new start of the year, first thing I want to do is to write this thank you note to … [Read more...]

STAR WARS AND FINANCIAL FREEDOM IN 2017!

A reader made a droll statement on FB and I decided to share some quotations from my favourite Science Fiction movie on the first day of 2017: Related post #1. There are many who do not believe in delayed gratification and the power it has to improve our financial health: I find your lack of faith disturbing. Related post #2. For those of us who believe that saving more and investing in … [Read more...]

5 Life Lessons Learnt From 5 Years of Business

5 years ago, I quit my job to head-dive into the world of business.  The director of my company discouraged me and told me that if he knew how hard business was, he would have never done it.  Upon hearing that, I got even more excited. “BRING IT.” That was the only thought in my mind. Few years later, I remembered those words.  And boy was I struggling.  But hear me out, there’s a light … [Read more...]

A Christmas Gift From POSB

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Despite the long queues at POSB ATMs, I will always have a soft spot for this heartlanders’ bank. At least for the first 20 years of my life, this was the only bank I transacted with and it was there when I saved my first $1, $10, $100 and then $1,000. Therefore, I am not surprised by my favourable review in the past and even right now, it continues to benefit me even when I have long … [Read more...]

Copying Your Way To Riches

Many things we do in life aren’t really new. According to Havard Business Review (HBR), some of the most successful businesses such as GoogleCloud Storage, and DropBox are imitations of each other. Rather than harping on coming up with an entirely new idea, maybe, the best way to make financial progress is to simply copy successful people. A great example is building passive income. To get from … [Read more...]