Savings Accounts and Credit Cards Jan 2021 (XIRR)

 

If you haven't read my previous post on this topic can click here.

My savings account strategy remained similar to last year:

BOC Smartsaver: Salary + CC top up to Grab($1500) + Pay three bills gives 1.45%pa for $80k

Singlife: 2%pa for $10k. If you don't mind 1%pa interest you can top up $90k more. I personally just keep $10k inside.

Dash EasyEarn: 2%pa for $20k

This strategy if maxed out gives you close to $147 per month. If you wish to double the amount of savings quantum, you can open the same accounts for your wife. I prefer to put the excess to work in the stock market. Even if you are extremely risk averse, there are retail bonds for you to consider.

For BOC Q10 credit card Grab top up, besides getting the extra 0.5%pa for your 80k savings account, you also will get $40 Q10 Qmoney. Qmoney is like real money, but you can only spend it on Q10 app. I still have over $275 worth of Qmoney purely from BOC Q10 credit card even after spending on bulks of toilet rolls several times.

This time I may top up $500 to Grab instead of $1500 to get the 0.3% instead of the 0.5%. Because I realize that CIMB World Master card maybe able to give you 1.5% unlimited cash rebate from topping up Grab. I called CIMB to enquire and was semi confirmed on it. May need to test out this month to be 100% sure. If its confirmed, you can double dip by topping up Dash card and use Dash to top up Grab to get the reward points and the 1.5% rebate from the credit card, then spend on Grab to get the Grab reward points.

My Amex True Cashback credit card got charged annual fee and they gave certain conditions for full waiver so I cancelled it.


Maybank Family and Friends credit card is still my most used card. 8% cash rebate for Groceries, Petrol, Fast food, Grabfood, MRT and bus ride, Popular, Toy r us etc.


For Grabfood purchase, to get the 8% rebate, pay direct with this credit card and don't top up with it. For outside dinning, check hwz thread on this card and make sure the restaurant you are eating at will give you the 8%. If not, you can use Grab card or CIMB World Mastercard for the 2% rebate.

Snap shot of my portfolio performance as of today: Total profit for 2021: S$23,466.69 mainly due to 23% rise in Chanjet, 16% rise in APT Sateliite, 8% rise in Weimob and 5% rise in Alibaba today.



1 comment :

  1. HOW I GOT A GENUINE LOAN!

    i was in need of loan some month ago. i needed a loan to open my restaurant and bar, when one of my business partner introduce me to this good and trustful loan lender STEVE WILSON that help me out with a loan of $420,000, and is interest rate is very low, thank God today. I am now successful, If you are look for any kind of loan. You can Email him at: stevewilsonloanfirm@gmail.com or whatsapp:+14027300344,
    company website: https://stevewilsonfinancialloanfirm.weebly.com

    Thanks Steve.

    ReplyDelete