24 October 2012

Funny Internet #1


Because it's just a movie


22 October 2012

Exercising Financial Prudence Tip #3 - Don't Keep Your Money in Your Drawer

As a matter of fact, I used to do that as a teenager. I would dump whatever spare cash I have into my drawer and when I have free time, I would count my money. You see the problem? The amount of money in my drawer will never grow unless I continue to dump my spare cash. So let's say I have 1000 dollars inside and I decided to stop dumping money, and after 10 years, it's still 1000 dollars, now the question is, how much is my 1000 dollars worth after a decade?

If you factor in Singapore's Annual Inflation Rate, that same 1000 dollars would have become "smaller" i.e. I need to pay more than 1000 dollars to buy what I could have bought with the same amount of money 10 years ago.

Pay $223.28 More!

So think about it, have you found a better place to keep your money?

Exercising Financial Prudence Tip #2 - Take Public Transport

I think having a car is convenient most of the time, especially when there's a need to carry stuff or people, or to certain places where public transport is not easily accessible.

But the biggest problem with owning a car is the total cost of ownership, the monthly expenses is already quite a substantial amount. Just imagine how much you can save by converting to public transport.

Well, I have a colleague who has fully paid up his car loan, but he still spends slightly over 1000 Singapore dollars a month on his car, I think he would spend less than 1/10 of that if he converts to public transport, and the other 9/10, he can use it to increase his investment portfolio.

What I think is, Singapore is not a very big place, nowadays, our public transport is getting better, more connected, to more places, at higher frequency, worse comes to worst, one can always book a taxi, and it's just a call away. To be honest, I only take public transport for long distances, the rest I just walk e.g. the distance from my home to the train station is about 1.2 kilometers, and it's all by walking.

So think about it, why let your money go down the drain when you can grow it?

Exercising Financial Prudence Tip #1 - Use a Cheap Phone

I'm currently using a Nokia 1280, and I bought it for 30 Singapore dollars at a neighbourhood shop. There are shops in People's Park Centre selling for 26.80, so for those interested, you might want to check it out.

It's a basic phone, cheap and useful, and there are two outstanding features:
1. Torchlight - press center pad up twice to switch on, up once to switch off.
2. Speaking alarm - set a time, when alarm goes off, phone tells you the time.

And one other thing I like about this phone, it's durable, doesn't stop my heart when I drop it, I know it won't break ;)

Nokia 1280 - Black

In Singapore, I think most people sign up for a mobile subscription plan, the contract requires one to stay on that plan for 2 years and for your commitment, telcos will offer mobile phones at a much lower rate. So for me, I get a plan that suits me, and I get a phone with a high market value and sell it brand new, or I get a phone at 0 dollars.

If you want to save even more, consider using pre-paid card instead, because if you just want to stay contactable but you don't call much, there's no point paying more for a subscription plan.

Personally, I think smart phones are more of a luxury item than a necessity. So think about it, if your holding a smart phone, why not sell it and get a cheaper phone!

06 October 2012

Withdraw Money from PayPal to POSB Account

POSB Info for PayPal

Country: Singapore
Name on account: This must be exactly the same as the name under your POSB account, the name order must also be the same e.g. Tan Ah Kow, not Ah Kow Tan, if order is wrong, click Switch name order.
Bank Name: DBS Bank Ltd
Account Type: Whichever you wish, if not sure, check your booklet, usually is savings account. Current account is usually used for issuing cheques.
Bank Code: 7171
Branch Code: 081
Account Number: POSB account is 9 digit, exclude the dash, put only numbers.