Just created UOB One Account Today!

Hi Everyone!

Today I just create UOB One Account and will be fully utilize it next month because I still need to wait for my UOB one credit card and have to make GIRO arrangement for three phone bills. So I will have to wait till November before I make any move.

The below is the illustration on what I am going to achieve.

I will satisfy the credit card portion and the 3 Giro transaction criteria in order to get the maximum amount of interest that I will get. This will give me 2.432% without including the rebate. It is better than OCBC 360 as OCBC 360 only gives 2.2% (Max) by fulfilling 3 criteria. 

So, am I going to close my OCBC 360 account? 

My answer is NO. The reason I am not closing this account is because I am greedy, I want the best of both world. for OCBC 360, I will try to get more bills to pay as now I have 3 telephone bills, one internet bill and one credit card bill. So I will need just one more, probably OCBC credit card bill in order to fulfill the 3 transactions. Adding to that, I will still be crediting my salary to OCBC 360. 

As I mention in my goal, I aim to have $100K cash, but I won't be focusing so much on stocks because I will need the money in two years time. So most of my cash are in banks which gives me 2% interest per year on average. 

Of course, I have set some cash for stocks because I want to generate more passive income (as much as possible) in order to hit $2400 per year.

Getting around $1.4K from UOB and around $400 from OCBC (basic projection, might be more or might be less, depending how much I invest in stocks). Dividends I hope to get around $600 in order to hit my target.  

Target for Monthly Expenditure 2015 and Cash Saving Target for 2015

Hi Everyone!

I understand that I was suppose to create one post per month but after reading some blogs, I felt that I should have some short term target in order to make sure that I am going to the correct saving path.

So I shall split them into expenditure and 2015 final goal!

I am to spend around $970 per month, I understand that it is very very little, but for me, this is my personal goal.

So this is how I am going to spend my money:

1) Food - $12 per day, assuming 30 days - $360
2) Transport - $150 per month
3) Bills - $120 per month (phone bills and internet bill)
4) Entertainment - $200
5) Others -  $40
6) Mum allowance - $100

Total of $970

Food - will be spending my breakfast, lunch and dinner for 30 days (very straight forward)

Transport - MRT, Bus and sometimes taxi fare

Bills - All the bills that I was responsible to pay (at the same time this is also my allowance for my parent)

Entertainment - weekend expenses can be reduce because I will try to spend less on this area

Others - emergency fund, in case if there is 31 days in the calendar month, it will be activated for food and travel expenses

Mum allowance - For now is $100 because I pay for the bill as well to support the family. Also I have set aside some of my saving (not included in the target I have shown) in a DBS account.

Will report the result on 1st of Nov 2015
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For my target, I hope to achieve 68% of my target. which means $68,000 <- 4k more to go! Hope I can achieve this target by the end of this year.

Shall see whether I can get the target.

Starting Off a New Start

Hi Everyone!

It's been a long time since I have write any post here. The reason is because of my busy schedule and a change of a new working environment. Yes, I have change my job.

So now I have some spare time to write some post which will write down my progress for investing.

As stated on the right side of the blog, the total passive income that I have earned this year (until September) is more than $2000!

This is certainly amazing and still got three months left. The leftover passive income that I can look forward for is 3 months of interest by OCBC 360 and SGX dividends, which provides the estimate of around $250++.

This year is a starting year so there is still a long way to go. Next year is a brand new year, which I aim to get around $2400 passive income which gives me around $200 per month extra!

Now, there is a twist in this scenario for next month whereby I have enough funds to move my money from OCBC to UOB account one. So the reason why I would do that? Let me do a calculation for you

Lets say if I have $60000 in my ocbc 360 account and I shift $51000 to UOB account which left 9000 in ocbc account.

Action need to be done -> Salary and bills to OCBC, credit card and bills to UOB.

$51000 -> $1216 per year
$9000 -> $153 per year

Total $1369 per year

However, if we put all in ocbc account

Action need to be done salary, credit card and bills to OCBC

$60000-> $1320

So you can see the difference, $49 more per year. But certainly, if you have more income coming it will be better to have two account (total up to $11000 earning safe interest)

With the month income just from this itself is around $114 per month. Which is quite good for me, extra $114 per month which is good, not including my dividends.

So next year, I am to get $200 per month for my passive income and also my target cash saving for next year before December would be $80000 to $85000.

So I have around $20000 more to go before I hit that target and we do a simple calculation, it would mean $1667 per month in order to hit this target.

That's my update. Do check out my updates next week as I promise, I will do a write up every month to keep my reader update about my status.

Small Updates of JYKL

Hi Everyone,

I have been inactive for quite sometime as I was busy with handling my career stuff, a job hop is the exact phase for my activity.

Yes, I am changing job, because I am still young so I am seeking for opportunity before I hit 30. Well at the same time I also intend to upgrade myself by getting myself certified as my goal is to become a project manager or consultant.

Well, enough about my career stuff, so I will start to share my portfolio status. Now I only left with 4 counters as I sold DBS for small profit aka kopi money (coffee money). So I have left with:

1) CCT
2) M1
3) OCBC
4) Keppel DC Reit


Now my realized profit and my unrealized loss adds up to a total of $0, so it means that I am back to where I am except that I still earn some dividends.

So this is my little update for my portfolio, as I am not as active as before since these will be my long term counters unless the profit is there, then I will take it :D