Welcome to my Blog!

I had all along wanted to take up a insurance plan only when I hit 25. cialis prescription This is because premiums stays more or less the same if I am below age of 25. Moreover, the way insurance works just like your high school Mathematics, Probability.

If everyone insured are healthly (supposingly nothing should happen), it will be perfect for an insurance company. That’s provided nothing happens between your insured period (say 15-25 years). So this is more or less a gamble, looking at 100,000 people in probability, how many in % will meet need to claim insurance.

Recently, I realise I should just go ahead, since my agent is pretty experienced, unlike those who are young and ignorant (who will probably quits after 2 years). She calculated my networth, as well as other stuff I need to know.

So back in October (sorry for being dated!), I took up this plan, which is more or less what I think is ideal. This is an Investment-linked Insurance plan, meaning the premiums I put in monthly, are channeled to investments, rather than a savings. At the end of maturity, what I get back is a sum of money from investments, instead of traditional savings which are at most 2-3%.

This plan allows you to put your money directly with the fund managers, where they pool in a large sum and buy stocks and funds directly. You get to select how you want to allocate your funds (I am a super high risk taker … hehe), very similar to putting in actual cash in investments and letting these people do their jobs, but yet not risk losing it all.

After all it is an insurance, and that is ultimately what you need is protection. The investment is just a portion where you get 2 benefits out of 1 plan. So this will amount to $1,200 a year, and hopefully if nothing happens to me I’ll get back a huge sum of money. Besides this is the best time to buy in stocks from the stocks market as prices are very low. (though it may go further down)

So what’s your insurance like ? Share it with us here!

Even though with the current recession, the drop in share price of AIG, followed by Lehman Brothers Bank, and now the US recession, the Asia’s economy is still going strong. Currently in the Asia region, we see a slight increase of the impact felt from the US economy downturn.

Bigger companies are starting to cut jobs, restructure, etc. to save cost. Though we are still seeing a huge number of companies hiring, but it is not immediate. When the demand of services and goods drop, which also means a drop in sales and profits, will impact the companies here, say 6 to 12 months.

I have a few friends in the Banking sector, and all they say is that business are “not as usual”. Cost cutting measures take place, and they wonder if they are even needed. It is good if management regroup, reassign resources to other departments, get employees into training so they can be tasked on other work.

Recently, Citigroup announced jobs cut of 50,000, FIFTY thousand jobs, All aroud the world ! ANd I believe a majority are the senior or higher management staff (because you can save more by axing higher paid ones). Now this makes me wonder if my money should remain with them, but I guess it should be. After all they are strong in the Asia market region.

Let’s hope we could survive this period so that impotenza things won’t turn out as bad.

I think I’ve missed out on the October report. Currently I have a net worth of $9,520 SGD with that of the citibank’s step-up saving account.

With the bad recession hitting Asia, Citibank are introducing 1-year time deposits, with a minimum amount of 10,000 sgd, @ 1.4% interest P.A. This sounds like a not so bad deal, considering if you had 50,000 which would give you a cialis cheap 1.6%, or a returns of 800 a year.

At such a bad time I rather be save with my money than sorry, but it may also be the best time to invest into the stocks market!

Savings: $500/mth

Passive earnings: $5.00 (step up interest)

My hand was itchy. I took a picture of all my credit cards… because buycialis I know I gonna say goodbye to them. I’ve gotten them mostly out of curosity, to understand the meaning of credit, and what happen that lead to credit market balloon burst.

 
These cards do help in one way or another, with their usage written beside them. Besides some of the shopping or dining, I basically have no uses for them. Oh, maybe just some internet expenses. If you know how to use them wisely, you could save some money, but that is if you fully understand the risks, why there are discounts by merchants and why they can afford to give discounts.

Sensitive details removed for security reasons…

 
I got my first credit card when I just turned 23. To qualify for a credit card in Singapore, you’ll need an annual income of at least SGD30,000, or USD20550. I got hold of my first card from Citibank, with the Clear Platinum Visa and the Citibank MasterCard. Then I got the savings account which is a blue debit card right at the top. That is where I had save almost $9500+ by now.

Then I took other offers with promotions by getting the OUB One card, and subsequently the full suite of DBS / POSB credits cards… which right now, I don’t the need to have them, hence the photo taking.

 
Anyway, I feel that credit cards discounts are one avenue for merchants to advertise. For example, the “FINE” dining discounts offered by my American Express DBS Black card, includes a list of merchants that I’ve never really seen or heard before. Maybe their price are just too expensive, their location inaccessible, or they simply got not much of business.

 
In my next post I’ll talk about my strategies in handling credit cards.

 
Open for feedback !

In Singapore, POSB is a local bank that is tied up with DBS.

All resources are “shared” among them. When you visit a a POSB outlet, you may do services offered by DBS, and vice versa. What I got here is another savings plan that is slightly more flexible. If you look at the CitiBanks’s saving plan, you’ll notice that it’s quite rigid. You need a minimum $500 and make sure balances of the current month don’t drop below the previous month.

However, this POSB bank’s saving plan (named cialis buy cialis “MySavings Account”) has the freedom of putting in any amount monthly, and it doesn’t have a termination fee before 6 months of issue. It is offering a 1.0% for savings from $300 to $790, 1.2% for $800-1490 and 1.6% for $1500-$3000.

So I always have this in mind. Whenever I have cash, I won’t let it sit in a regular savings accounts. Instead, put it into an account that allows flexibility. Theres good and theres bad, and there isn’t much money on hand I could spend now.

This is called discipline saving and I hope everyone follows!

I try to be keep it simple here.

To answer the topic’s question, I am putting in SGD500 (USD344) of SGD into this account the next day I receive my salary. So it is an automated transfer from one bank account to another.

Since I started this quite long ago, I am earning a monthly interest of $2.xx interest and $1.xx step up interest a month. That is about $3.xx a month, and it is growing by the month. My total Buy Erythromycin Online without prescription balance is about $9012.

As this is just a start, I’ll write down each individual component, and by then, I’ll post a summary of my finances at the end of the month.

This is the first post for the money management category. I’ve decided to write this as an example to future posts; if it worked out well, I will continue to write more.

This is just to show everyone what is this CitiBank’s Step-Up Saving Account. Obviously I don’t have alot of money (If i would I wouldn’t be writing here). But nevertheless, being rich is not easy, yet it is not difficult. In the United states, there’s at least 1 Millionaire in 120 people. And the stats are dropping.

Anyway, just to reveal my savings to CitiBank’s Step Up Account in Singapore. This is a product that is introduced as Buy Levaquin Online without prescription a saving account, so you can easily deposit and withdraw cash. What’s best is the interest returns. It is currently on a 1.2% compounded monthly interest return, which means I get 1.2%/12 monthly.

I am not going to explain alot of details on this, because this is a country specificed product.

Citibank’s Step Up Saving Accounts :
http://www.citibank.com.sg/SGGCB/APPS/portal/loadPage.do?tabId=investmentdeposits&path=/prod/det/cb_stepup_newcust.htm

This link you to more details. In short, you need to maintain SGD2000 cash, or deposit SGD500 a month regularly in order to keep the step up interest in effect. The interest starts off at 0.688% and steps up all the way to 1.2% in a few months.

After that it will be 1.2%, which is quite high in the market for a savings accounts. The only criteria: You have to make sure the current month balance doesn’t fall below the previous month balance at a cut off date. My tip: Put in $500 and withdraw $400, if you need the cash. This would satisfy the criteria, because your balance did increase every month, earning you the step up interest, and you can invest the $400 money elsewhere

So if you have spare cash in a low interest saving account, extra income to spare, or do not intend to invest into stocks and unit trusts yet, why not give this low risk investment a try.
 
 

From today onwards, I will some of my sensitive information about myself. This money management category will published articles about my savings, Buy Minocin Online without prescription investments and expenses, where I will document down all my Money $$ and how I manage my money online.

Managing money is a myth to some, a chore for some, but an art to me. Be it managing funds of a company, of an investments, or day to day living, it is still something that we all can learn.

It will consists of a monthly reports on how much I earned, how much I spent, what I spent on, and how much I used to generate more income, be it savings or investments. Along the way I will show where the cash flows are, so I hope this motivates you. Whether you are just browsing through, passing-by this site, need financial management tips, or just plain interest, I welcome you!