I have receive lots of comments on InvestingNote on my previous post. It made me realise that I have taken too little risk.
I have also complicate matters by my formula.
So I have made changes and revamped the plan.
This should help everyone to understand my plan better.
1. I will borrow 3Y for 6 months for the initial balance transfer.2. I will pay A for 5 months to reduce the outstanding. Note that Y=5A (It should not be 6A because you run the risk of not paying in the last month).3. Roll over 2Y for another 6 months for the subsequent balance transfer.4. Continue to pay A to reduce the subsequent balance transfer.5. Place Y into SSB to offset some of the processing fee in both the balance transfer.
Thus, it is important to ensure that Y should be below your monthly gross pay. A should be about 15% of your gross pay.
Do note...