Posted by Seng Lee on May 25, 2008 – 11:46 am
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2 of my favorite Banks for Balance Transfer is UOB and DBS as I believe that they often offer the lowest processing fee for fund transfer.
Currently UOB CashPlus is offering 6 month funds transfer rate at 0% p.a. with processing fee of 2% for amount approved between S$500-S$9,999 and 1.5% for amount more than S$10,000 till 20 june 2008 and DBS Cashline is offering 6 month funds transfer rate at 0% p.a. with processing fee of 2% till 31 May 2008.
UOB CashPlus is a better deal at only 1.5% for processing fee if your approved amount is greater than S$10,000. Otherwise, they make no difference for amount less than S$10,000.
An example of how it works:
Loan amount: S$1,000
2% Fee : S$20
Total Loan : S$1,020
So the total amount you need to clear within 6 months from the transaction date is S$1,020, the interest rate will be adjusted to back to the prevailing interest rate thereafter.
Balance Transfer is good if you suddenly need a large amount of money for some unexpected happenings or you need to clear your outstanding credit card bills.
I discourage the use of money for investing in things such as stocks, as you never know what could happen next and it could lead you to greater debts which happened to some of my friends.
Use money wisely.
Posted by Seng Lee on May 17, 2008 – 8:53 am
NDP Tickets for 2008 is now up for grasp!
Members of the public can start applying for tickets from May 16 onwards.
They can apply for the tickets via the following methods:
1) Via SMS by keying in ‘NDP’ and sending it to 76868.
2) Via telephone, by calling 1900-112-4311 for the preview to be held on August 2, or 1900-112-4312 for the parade to be held on August 9.
3) Via the NDP website http://www.ndp.org.sg/eballot.html
4) Via any SAM and AXS stations
They can apply for either two, four or six tickets, and can apply as many times as they like. However, only the latest application will be entered into an electronic ballot. Applications close on May 25.
Hurry and apply for yours today. I applied for mine yesterday thru the sms method in less than 5 min. However, do note that there is greater chance getting 2 tickets but you might wanna try your luck on 4 & 6 tickets if you intent to get the whole family going.
Posted by Seng Lee on May 10, 2008 – 11:45 pm
Recently I have this idea of trying to save $10k per year, which means I need to save at least $833.33 per month.
Oh My God! How am I going to do that?
After deducting the money for parents, insurances, bills, and some personal expenses, I guess it is not possible for me to set aside that amount. But I try to save at least $600 per month. The easy way to do this is automatically deduct the amount from my Citibank Stepup account to my eSaver account at a preset date every month. This way I can save at least $7200 per year.
Everything is rising in cost nowadays, I am happy that I made the wise choice of scrapping my car last year which used to be my biggest bank killer.
$10k a year is still a goal I want to achieve in near future. Meanwhile I try to pick up the knowledge of investing in things like funds so that the money can grow at a faster speed!