Monday, October 31, 2016

Personal Passive Income and Expenses Monthly Report - October 2016

Hi Everyone,

This month was a good month for me because I manage to save more money due to my increment. It was certainly a good jump in my salary and poof! my saving increase from 76% to 79%! I did not clear any of my goal and at the same time, I cleared my wedding ring installment! (Which means my expenses will go down by $450 per month!)

This post will be a very short one because this is another month whereby I did not keep track of my expenses. The reason is because there are too many things to handle and due to the tight schedule, I did not manage to monitor my expenses. (Probably for the next 2 months as well)

Not to worry, I will start tracking my expenses in 2017! A brand new year with a brand new goal! (Property!)

As for my passive income, well, it's constantly increasing which I believe I can hit $2,000 mark by December 2016!

150K progress - October 2016

As of now, my savings is around 79%. 21 more percent to go before I hit my target, which boils down to around $31,500 more to go!

Conclusion - October 2016

3% jump is indeed a huge jump but the coming month will be a tough one for me because of the wedding expenses kicks in. So might see a drop in next month's saving progress report. But wedding is a once in a lifetime thing, so who cares! (push it till December 2016, where my bonus comes in)

Tuesday, October 25, 2016

POSB Cashback Bonus

Hi Everyone,

I believe most of you have heard about POSB Cashback Bonus program introduce by POSB (obviously). After reading the requirements online, I find that this might be a good way for me to earn some cashback if I buy my property next year and get a loan from POSB. If I manage to do that I think this will be an additional passive income for me!

The requirement as shown in the picture below

Image result for posb cashback bonus

So if I were to get it, I will be aiming for these three requirements, 1) Credit Card, 2) Home Loan Installment (condo loan) and Investment (Invest Saver). 

I did a rough calculation (Just an estimation)

Spending $100 - Credit Card
Home Loan $1800 per month
Investment - $200 per month

With the above, I can earn about $36 per month, which I think is good. Because with this $36, it is another avenue where I can earn additional income and use it to save up for my investment. So if you have home loan and intend to do some investment (invest saver), do try this out. With this small amount of investment and spending (credit card), coupled with home loan, make use of this to earn more!

Certainly, if this program still available (mid of 2017 or late 2017), I will certainly go for it!