Personal Finance
Money is Cash or Numbers?
By Live Rich Life Free  •  April 25, 2022
When was the last time you touched a one hundred dollar note? In today's digital payment world, often we only see numbers of money in our bank account balances from Internet banking or withdraw at most one hundred dollars of cash from ATM for daily expenditure. Today I withdrew wads of hundred dollar notes from UOB as my fixed deposit matured. To be exact, more than 1000 pieces as one thousand notes are no longer in circulation. The renewal rate in UOB was only 0.7% p.a. which is too low and greatly erodes my money due to inflation. Initially I renewed the fixed deposit for a paltry interest sum of $679 for 10 months with $115k. However, after some research I decided to cancel the fixed deposit with UOB and withdraw full amount in cash. I brought the cash over to OCBC as fresh funds to enjoy 1.28% p.a. interest rate for 24 months which is much more attractive....
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By Live Rich Life Free
The purpose of this blog is for me to share my reinventions of how life should be lived and journal my journey towards financial independence. I believe that life is a story book. Each chapter contains 10 years of our lives. I am moving on towards mid 30s in 2021. As a nobody but somebody, I am in Chapter 4 of my story book. I hope to influence my philosophy of living a rich life freely and healthily with all of you. Embrace the future and empower freedom!
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