Tag: fees

StashAway Performance – July 2021

On By RistrettzIn Performance, Personal Finance Series, Robo AdvisorsLeave a comment

Here we go, the second half of 2021 has arrived and it wasn’t too long before we had resolutions and new ideals. There’s only 5 months left for us to actually do anything to plug the gap. For those who actively review their goals and are on par or exceeding it. Keep on pushing, make it count. At the same time, it does seems like it has also passed rather quickly.

StashAway has been rather stagnant but considering the environment, I think it is holding out well. Then again, it is about comparison. If I compare it with my core Robo then it seem to be a tad shy from the performance. Then, they decided with an ERAA approach that has been rather active. Only time will tell if their algorithm makes the right choice and if there is some human involved, I hope it is only minimal.

Repeating to myself that if Mr Market decides to go either way, it would matter that much to me. Why is that so? If Mr Market drops, then I will add on more to the portfolios. If you have not taken the first step, action early so that you can start doing this early and learn from any mistakes along the way. By now, I would have decide on the main Robo to stake my money with. SA is not quite the one but let’s see how it goes. The competition remains strong.

Retirement Portfolio A (risk-14%)

My longest term portfolio for retirement. A little off on the performance level. I could have done a lot better but I shall not look back and will pop in a little more when i contribute to my SRS account. The SRS account since first day deposit is currently at +3.95% as on 4 Aug 2021 (Time-weighted return). Oh well. Performance wise, I think i is okay and also this is a super long term portfolio – I would say close to 25 years horizon so I’ll just leave it there.

 

In USD performance, that’s about +6.90% YTD (Time-weighted return). That’s quite a bit of FX i am losing out here. It dropped a further 0.8% from last month and 0.6% from the previous month. Then again, I wouldn’t sweat on the exchange rates since I am going to stay invested and into these portfolios. They are just a mean of reference as I look back at the performance. So, still high risk high returns? I think it’s more like, higher risk commensurate the higher returns but there is no guarantee.

 

Education Portfolio B (risk-16%)

This portfolio B is set out to be on a 15-18 year investment horizon. It is at +8.72% YTD on 4 Aug 2021 and It’s steady. It’s the same as the last time i measured during Dec 2020. I have been averaging in whenever there are market dips. The risk index is at 16% and I will adjust those risk levels as and when I feel that there is a risk on or off. For just a 2% risk increase, I see a better performance already. This month versus the last was a -0.6% drop.

 

In USD, I’m looking at double digits +12.09% (Time-weighted returns). Again on the Forex rate as reference. This has dropped almost 1% month on month for 2 consecutive months.

 

Education Portfolio C (risk-20%)

For this portfolio, I look at this at shorter horizon of 12-15 years so I feel that I need to take on some risk to achieve my goals. This SA risk index is currently at 20% and will take on to be one of my riskiest portfolio. Return is at +15.59% YTD (Time-weighted return) since day one as at 4 Aug 2021 Not much of it has changed or rather it has dropped slightly but this is just a note to self and measure the monthly performance. Over time, more funds will be added to achieve the targeted invested goals. Two consecutive drop in performance for this portfolio.

 

In USD terms, we are looking at +19.90% (Time-weighted return). Looking great as usual. Although I feel that this isn’t exactly the year to take on higher risk for better returns. This has dropped 1.2% month on month for two consecutive months.

 

Conclusion

It is now more than one year since I started using StashAway. I still think that it has been a great supplement as a robo advisor. After using a few robo-advisors, I find that SA will play second fiddle to my Endowus Portfolio and true enough that fits exactly into how I plan it to be.

StashAway does have their own advantages. They do hedge their portfolios against huge crashes and take a stand on some positions which I do like because a lot asset managers don’t and even though they talk big about macro. The gold move was bold but it protects the portfolio. Again, Rome wasn’t built in a day so I guess you need to safeguard some of your monies to future proof it.

Recently, there were even more adjustments to reduce USD equities allocation all together. I’m not sure if this is an ingenious move that will  reap returns in the future but it is take a small hit at the moment. I do hope there isn’t too much of a human factor in these decision.

To find out more about the pros and cons of using StashAway, do refer to my previous posts.

To sign up or try out Stash Away, visit the website and use my referral code at Stash Away Referral

We’ll both get up to $10,000 SGD managed for free for 6 months which is a good deal.

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations

The pictures were taken from the Stash Away website for this article.

Endowus Performance (New Cash – Ultra Added) – July 2021

On By RistrettzIn Performance, Personal Finance Series, Robo AdvisorsLeave a comment

It is the time to do Endowus July 20221 monthly review again. Last month was kind of a stagnant month but this is very little impact on the portfolio as performance has been stellar since inception. For performance in July 2021, I’m seeing new index highs but yet careful on what is going to show in the near future. The whole portfolio seem to be steady and going on a good long term growth.

Like many of my previous post and like a repeater every month, I kind of trust Endowus. I feel that their corporate story sells to me. Frankly, I would actually recommend them to anyone I know. I know that my investments will be safe with them.  I also read in their newsletter that traditional banks and investing firms are starting to put in monies in the company as part of the drive to stay relevant.

Whatever it is, they have been quite reasonable about everything. Another plus point is that they have also given me a lot of comfort in the way they allow investors to reduce their initial investing sum. Minimum sum should not be the way to investing. Overall, I feel that I take more pride in knowing who is holding my money and how they do it. Lowering the bar also allows people who are younger to start early in this long-term process. The other point is what many people are talking about which is the fees. They are probably the only one in the market to rebate trailer fees. I like that bold big move as compared to the other advisors. I will slowly shift my funds over to them. Everyone is different so, you have to try them out first before you decide.

Cash Fund Ultra Portfolio

I started tried out their ultra portfolio which claims to be around 1.8-2% (Investing into cash related funds) because I can’t find anything that yields more than 1% interests.

Not sure how this might work out but over the long run, it should be fine. Portfolio is down -0.04% after a week. This should be fine though.

ESG Portfolio

I started this ESG Portfolio during March 2021 and I have some high hopes for this fund to do pretty well. This segment would serve me well for a long term portfolio because I do see the value in investing in sustainable companies an practices. After all, we are trying to make a difference for our little ones. So, a little step goes a long way.

 

This is at +10.72% since inception some time in Mid March 2021. (and +2plus% since June 2021) This is moving in a good direction to date. The allocation is a 80%/20% Equity/Bond portfolio allocation so there will be more movement on the equity side. This is long term so, just leave it in there. You do good and it brings you sustainable returns. It is for the future and the next generation. I can’t explain more. My only regret was I did not put in more.

SRS Portfolio

Overall, portfolio is up +24.90% since May 2020 in SGD. As usual, in USD terms, due to no FX impact as the portfolio is USD ETFs, the performance will definitely be better especially when USD becomes stronger. Of course, the reference will be SGD since I use SGD. This is the SRS/Cash portfolio which consists of my favourite Dimension Funds in a 40% bonds/60% equity. Overall from May 2020 to 30 July 2021, it is a +24.90% increase in absolute terms – Fantastic. This is for the long run. I’m just going to keep it simple to report it overall as I have less time on my hand these days. But do try it out and put out your own performance and tell everyone about the experience. Unless, you nitpick aggressively – I think you will be fine.

 

CPF Portfolio

For the CPF portfolio, it is looking at +16.67% since inception in May 2020. That’s about a 1.20% increase from the previous month in June 2021. This portfolio is beating my CPF returns.

 

Similar to the previous months, interest rates for cash has been dropping like crazy. That’s pretty expected and the trend is to follow.

Fund Smart Portfolio

I started this semi medium term Fund Smart portfolio this month in May 2021. I tried to build a balance portfolio. I’m not exactly sure but I will go in via RSP monthly as I wasn’t sure but I do want to deploy some of my cash. I have put in just a little during the correction and it is at +1.68% to date. This is done monthly on RSP until end of the year. As compared to June 2021, the portfolio is slightly up by +0.2%.

 

Overall: 52% Equity and 48% Fixed Income

a. 15% in Multi Asset Fund (1 Fund)

b. 45% in Equity Funds (2 Funds)

i. Focus into China Play [10%]

ii. Global equity with dividend accumulation (Re-invest) [20%]

iii. Small Cap equity play (For the Alpha) [15%]

c. 40% in Bond Funds (3 Funds)

i. Climate Bond Fund Play [20%]

ii. Core Fixed Income Play [20%]

Retirement Portfolio

So last month, I got down into building a portfolio of unallocated funds to the institution Pimco GIS Income Fund. 0.55% will be the fees annually so that’s going to be start of the accumulation of the coupons from the funds. I will add on 2 or 3 tranches of the same should the time allows. Otherwise I would look at the Lion Global fund that matches the S&P 500 Index for a long-term portfolio. Since inception, it is up 0.46% (reinvest) on 4 Aug 2021. We shall see where we are heading towards. I put in another S$10k into the fund in July 2021 and the accumulation is slowly taking place.

I really do need to deploy some cash as I can’t get 2% on cash solutions.

 

The reason for Endowus

Like a broken recorder, the pros once more:

  • Endowus is the first and only robo-advisor to be approved by the CPF board.
  • 100% trailer fees back to the consumer, not the fund management fee. This is really one of a kind I’ve seen so far.
  • They do have a decent team who makes sense when introducing their platform in my personal opinion.
  • I believe all retail investor should try them out because of how they are trying to disrupt investing and make investing work for everyone.

Thank you all in advance for using my referral code.

Last point is to do your own diligence. What works for me may not work for you. Investing in traditional portfolios is about risk management.

Disclaimer

If you decide to sign up with Endowus, do remember to use my referral code: https://endowus.com/invite?code=EDZ8M

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations

These pictures were taken off Endowus website for reference.

StashAway Performance – June 2021

On By RistrettzIn Performance, Personal Finance SeriesLeave a comment

The first half of 2021 has passed by and it wasn’t too long before we had resolutions and new ideals. There’s only 6 months left for us to actually do anything to plug the gap. For those who actively review their goals and are on par or exceeding it. Keep on pushing, make it count. At the same time, it does seems like it has also passed rather quickly. StashAway has been rather stagnant but considering the environment, I think it is holding out well. Then again, it is about comparison. If I compare it with my core Robo then it seem to be a tad shy from the performance.

Repeating to myself that if Mr Market decides to go either way, it would matter that much to me. Why is that so? If Mr Market drops, then I will add on more to the portfolios. If you have not taken the first step, action early so that you can start doing this early and learn from any mistakes along the way.

Retirement Portfolio A (risk-14%)

My longest term portfolio for retirement. A little off on the performance level. I could have done a lot better but I shall not look back and will pop in a little more when i contribute to my SRS account. The SRS account since first day deposit is currently at +3.87% as on 30 June 2021 (Time-weighted return). Oh well. Performance wise, I think i is okay and also this is a super long term portfolio – I would say close to 25 years horizon so I’ll just leave it there.

 

In USD performance, that’s about +7.26% YTD (Time-weighted return). That’s quite a bit of FX i am losing out here. It dropped about 0.6% from last month. Then again, I wouldn’t sweat on the exchange rates since I am going to stay invested and into these portfolios. They are just a mean of reference as I look back at the performance.

 

Education Portfolio B (risk-16%)

This portfolio B is set out to be on a 15-18 year investment horizon. It is at +9.42% YTD on 30 June 2021 and It’s steady. It’s the same as the last time i measured during Dec 2020. I have been averaging in whenever there are market dips. The risk index is at 16% and I will adjust those risk levels as and when I feel that there is a risk on or off. For just a 2% risk increase, I see a better performance already.

 

In USD, I’m looking at double digits +13.28% (Time-weighted returns). Again on the Forex rate as reference. This has dropped almost 1% month on month.

Education Portfolio C (risk-20%)

For this portfolio, I look at this at shorter horizon of 12-15 years so I feel that I need to take on some risk to achieve my goals. This SA risk index is currently at 20% and will take on to be one of my riskiest portfolio. Return is at +16.74% YTD (Time-weighted return) since day one as at 5 June 2021 Not much of it has changed or rather it has dropped slightly but this is just a note to self and measure the monthly performance. Over time, more funds will be added to achieve the targeted invested goals.

 

In USD terms, we are looking at +20.87% (Time-weighted return). Looking great as usual. Although I feel that this isn’t exactly the year to take on higher risk for better returns. This has dropped 1.2% month on month.

Conclusion

It is now more than one year since I started using StashAway. I still think that it has been a great supplement as a robo advisor. After using a few robo-advisors, I find that SA will play second fiddle to my Endowus Portfolio and true enough that fits exactly into how I plan it to be.

StashAway does have their own advantages. They do hedge their portfolios against huge crashes and take a stand on some positions which I do like because a lot asset managers don’t and even though they talk big about macro. The gold move was bold but it protects the portfolio. Again, Rome wasn’t built in a day so I guess you need to safeguard some of your monies to future proof it.

To find out more about the pros and cons of using StashAway, do refer to my previous posts.

To sign up or try out Stash Away, visit the website and use my referral code at Stash Away Referral

We’ll both get up to $10,000 SGD managed for free for 6 months which is a good deal.

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations

The pictures were taken from the Stash Away website for this article.

StashAway Performance – May 2021

On By RistrettzIn Performance, Personal Finance SeriesLeave a comment

The first five months of 2021 has gone by and with the pandemic, time seems to pass slowly. At the same time, it does seems like it has also passed rather quickly. It is the time of the month again to look at the monthly performance of StashAway.

Now that everything has been setup, it doesn’t matter if the market decides to go up or plunge. If Mr Market decides to go either way, it would matter that much to me. Why is that so? If Mr Market drops, then I will add on more to the portfolios. If you have not taken the first step, action early so that you can start doing this early and learn from any mistakes along the way.

Retirement Portfolio A (risk-14%)

I still quite sad about my timing on this as this was invested before the pandemic outbreak came out. I could have done a lot better but I shall not look back and will pop in a little more when i contribute to my SRS account. The SRS account since first day deposit is currently at +3.13% as on 3 June 2021 (Time-weighted return). Paltry. Performance wise, I think i is okay and also this is a super long term portfolio – I would say close to 25 years horizon so I’ll just leave it there to monitor on the progress.

In USD performance, that’s about +7.91% YTD (Time-weighted return). That’s quite a bit of FX i am losing out here. Then again, I wouldn’t sweat on the exchange rates since I am going to stay invested and into these portfolios. They are just a mean of reference as I look back at the performance.

Education Portfolio B (risk-16%)

This portfolio B is set out to be on a 15-18 year investment horizon. It is at +8.87% YTD on 5 June 2021 and It’s steady. It’s the same as the last time i measured during Dec 2020. I have been averaging in whenever there are market dips. The risk index is at 16% and I will adjust those risk levels as and when I feel that there is a risk on or off.

In USD, I’m looking at double digits +14.22% (Time-weighted returns). Again on the Forex rate as reference

 

 

Education Portfolio C (risk-20%)

For this portfolio, I look at this at shorter horizon of 12-15 years so I feel that I need to take on some risk to achieve my goals. This SA risk index is currently at 20% and will take on to be one of my riskiest portfolio. Return is at +15.87% YTD (Time-weighted return) since day one as at 5 June 2021 Not much of it has changed or rather it has dropped slightly but this is just a note to self and measure the monthly performance. Over time, more funds will be added to achieve the targeted invested goals.

In USD terms, we are looking at +21.57% (Time-weighted return). Looking great as usual. Although I feel that this isn’t exactly the year to take on higher risk for better returns.

 

 

Conclusion

So far StashAway has been a great supplement as a robo advisor. After using a few robo-advisors, I find that SA will play second fiddle to my Endowus Portfolio.

StashAway does have their own advantages. They do hedge their portfolios against huge crashes and take a stand on some positions which I do like because a lot asset managers don’t and even though they talk big about macro. The gold move was bold but it protects the portfolio. Again, Rome wasn’t built in a day so I guess you need to safeguard some of your monies to future proof it.

To find out more about the pros and cons of using StashAway, do refer to my previous posts.

To sign up or try out Stash Away, visit the website and use my referral code at Stash Away Referral

We’ll both get up to $10,000 SGD managed for free for 6 months which is a good deal.

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations

The pictures were taken from the Stash Away website for this article.

StashAway Performance – April 2021

On By RistrettzIn Performance, Personal Finance SeriesLeave a comment

The first quarter of 2021 has gone by and my portfolio remains pretty similar. Well, slow and steady. Nowhere similar to what I have in my crypto portfolio.

As a usual reminder, the important thing is that I am not left on the sidelines. If Mr Market decides to go either way, it would matter that much to me in my opinion. If Mr Market drops, then I will add on more to the portfolios. That is what I believe will work for me for my traditional and rather stable investments. If you have not taken the first step, action early so that you can start doing this early and learn from any mistakes along the way.

Retirement Portfolio A (risk-14%)

I still am pretty sad about my timing on this as this was invested before the pandemic outbreak came out. The SRS account since deposit is currently at +2.86% as on 11 May 2021 (Time-weighted return). I think this is quite okay i suppose timing isn’t everything. Performance wise, I think it is ‘doing okay and also this is a super long term portfolio – I would say close to 25 years horizon so I’ll just leave it there to monitor on the progress.

In USD performance, that’s about +7.79% YTD (Time-weighted return). That’s quite a bit of FX i am losing out here. Then again, I wouldn’t sweat on the exchange rates since I am going to stay invested and into these portfolios. They are just a mean of reference as I look back at the performance.

Education Portfolio B (risk-16%)

This portfolio B is set out to be on a 15-18 year investment horizon. It is at +8.40% YTD on 11 May 2021 and It’s steady. It’s the same as the last time i measured during Dec 2020. I have been averaging in whenever there are market dips. The risk index is at 16% and I will adjust those risk levels as and when I feel that there is a risk on or off.

In USD, I’m looking at double digits +13.89% (Time-weighted returns). Again on the Forex rate as reference

Education Portfolio C (risk-20%)

For this portfolio, I look at this at shorter horizon of 12-15 years so I feel that I need to take on some risk to achieve my goals. This SA risk index is currently at 20% and will take on to be one of my riskiest portfolio. Return is at +15.48% YTD (Time-weighted return) at inception as at 8 Apr 2021 Not much of it has changed or rather it has dropped slightly but this is just a note to self and measure the monthly performance. Over time, more funds will be added to achieve the targeted invested goals.

In USD terms, we are looking at +21.35% (Time-weighted return). Looking great as usual. Although I feel that this isn’t exactly the year to take on higher risk for better returns.

Conclusion

So far StashAway has been a great supplement as a robo advisor. I will try to do more regular updates as a reminder to self. After using a few robo-advisors, I find that SA will play second fiddle to my Endowus Portfolio. The year of 2021 should be a test of time for most portfolios. I’m not too sure about you but looking at cryptos seems to be better than these. A lot more risk but yet a lot more excitement. I guess we need some excitement in our lives to look forward to.

StashAway does have their own advantages. They do hedge their portfolios against huge crashes and take a stand on some positions which I do like because a lot asset managers don’t and even though they talk big about macro. The gold move was bold but it protects the portfolio. Again, Rome wasn’t built in a day so I guess you need to safeguard some of your monies to future proof it.

To find out more about the pros and cons of using StashAway, do refer to my previous posts.

To sign up or try out Stash Away, visit the website and use my referral code at Stash Away Referral

We’ll both get up to $10,000 SGD managed for free for 6 months which is a good deal.

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations

The pictures were taken from the Stash Away website for this article.

The Price to Owning a Car

On By RistrettzIn Personal Finance Series, Wealth & HealthLeave a comment

Whenever we touch on the topic of owning cars in Singapore, there will always be a ruckus. The ambitious demands of ourselves would deem that we wish to own a car, a branded German Luxury for most. However, as much reasoning that we give, owning a car here is as good a depreciating asset or in more negative context, a liability. Owning a car isn’t exactly rocket science but there are some things to take note and the extra costs that comes in regularly. A piece of transportation that brings you from A to B, that’s something everyone appreciates if you have the luxury to do so.

Own or Grab?

Hands down, taking grab rides, gojek or comfort taxis wins owning a private car. It gives one the luxury of leaving home at any time and going anywhere without any restriction or so to say no stress. That comes with a price like any other thing.

Perhaps for a start, what are the tax and pricing related to car?

1) Open Market Value (OMV)

OMV is the price paid or payable when a vehicle is imported in Singapore. The Customs assesses the price and is inclusive of purchase price, freight, insurance and all charges. Different cars have different OMV.

2) Additional Registration Fee (ARF)

ARF is the tax payable when you register a vehicle. ARF is based on a percentage of the OMV. This is just another layer of tax on top of all other fees and taxes.

3) Excise Duty & GST

You need to pay customers excise duty to import and register a car and motorcycle or scooter. There is also a 7% GST payable to Singapore Customs based on the total cost of importing the vehicle.

4) Certificate of Entitlement (COE)

All vehicle in Singapore will require a COE. In order to register your vehicle, you need to place a bid for a COE in the different category. Once you have a successful bid, you get to own a vehicle to use on the road for a maximum period of 10 years. This is the upfront costs apart from all the taxes and fees.

5) Finally, the margins (The P&L)

After paying for all the taxes and fees, the companies who sell these cars need to cover their overheads, costs and make a margin on it.

The other costs

Now that you have paid for the car and you manage to drive it home. No, wait. Before you do that, you need to have a valid driving license.

Driving License

This costs roughly from $800 to $3000 depending on how good of a driver you are and if you take a private lessons or a driving school. The school definitely provides you with an all encompassing structured lesson but it also costs more. If you fail to get your driving license on the first try. That means more practical lessons and more cost. The upside to this is that, there is no expiry once you obtained your driving license until you are deemed too old. You will be required to complete a renewal test to ensure that you are fit to drive.

Car Insurance

In order to drive on the roads, you need to have a valid car insurance. The cost of insurance is renewed annually and depends on your age and type of car you own. You can have a comprehensive plan or a basic plan but in my opinion, you just need to go for the most comprehensive plan to get yourself covered.

Road Tax

Once you have paid for your car insurance, you will need to pay for your road tax. How is your road tax calculated?

a. Engine Capacity – The larger your engine’s capacity, the higher the amount of road tax (Payable 6 months or 12 months)

b. Age of your vehicle – Vehicles that are more than 10 years incur surcharge of 10-50% on top of the standard road tax. (For cars renewing beyond the initial 10 years of COE)

If you forget to pay your road tax, you will be liable for late payment and also for infringement since you are not allowed on the road. Yikes, more bills.

Car Loan

At the start of the article, I discussed about the price of buying a car. You can now loan up to 60% of the total cost of the sale of the car. Depending on the interest rate you can get, (Maybe around 1.88% p.a. at this point) that will be the additional interest payable on your loan amount.

Not too sure about you but it seems like the costs are piling up even before driving it on the roads.

The maintenance costs

It does seems like it doesn’t make sense to own a car anymore now but I still need to add on the maintenance cost during the 10 year life of owning the car.

Maintenance/Servicing

The initial 3 to 5 years should be an added benefit that your dealer will throw in when you buy that car. But take note that this is just purely servicing, meaning engine oil change and those point checks and tyre rotation. Any wear and tear are still liable to be charged at their retail price.

Typical servicing starts around the 1km, 5km, 10km mark or around 3-5 months depending on which comes earlier. I mean, if the car is new there wouldn’t be an issue. But if you don’t bring your car back to the dealer then the warranty that they gave you would be voided.

Inspection check

During the first 3 year of owning your car, before you renew your road tax, you do not need to bring your car to a registered inspection company such as VICOM or STA. After the third year, you have to do so to ensure that you do not change certain aspects of your car when you drive on the roads. It is a small cost but it does take some time to do so. After the initial 3 years, you have to go for an inspection once every 2 years until your 10 year mark is up. For cars more than 10 years, you have to do so annually.

Car Battery Change

If you do not own an electric car, you need to change your car battery 1.5 – 2 years regularly. Depending on what kind of car you drive, the number of batteries and type will also differ in price.

Wear and Tear/ Repairs

Any wear and tear (e.g. brake pads, windscreen wipers, tyre balding, rim change, air compressors, solenoid, repairs and more) will incur cost. After all, you need to make sure your car lasts for as long as it can given how expensive they are. Your tyres need to change every 3-5 years depending on how you drive your car and there may be small damages or even faulty electronics due to wear and tear. Also, our climate is pretty warm and heat will wear most stuff out when exposed over time.

Parking and Fines

Anywhere you stop your car, you need to enter a carpark. Parking your cars comes with a cost. You can’t just stop anywhere you want. If you get a parking ticket, that amount will pay for your 1 month’s parking budget.

Take note of red light and speeding cameras. Any breaches will set you back a few hundred dollars with demerit points. In the worst case scenario, you may be charged and your driving license taken away.

Electronic Road Pricing (ERP) and New Changes

Paying tolls have never been easier. (Sarcasm) Going through expressways and roads during peak period will set you back a few bucks per day when you drive through these to ease traffic flow. These will be replaced by a satellite distance-based ERP system in the near future.

Fuel Costs

Finally, you need fuel to run your vehicle. Basically, everyone is a price taker. You can’t not fuel up your car. Not having fuel in your car will do your vehicle more harm than good. After all, you are supposed to own some form of flexibility with a car.

Conclusion

Don’t feel that owning a car is beyond your reach now. There are different ways to do so. To always weigh the pros and cons about owning a vehicle, you will find the answer clearly but we still see a lot of vehicles on the roads. This part of our brain is unexplainable, the comfort and flexibility of owning a car outweighs all that reasoning. I have also read about the other options to owning a car but it really depends on individuals.

a. Lease (Instead of owning it, you pay a fixed cost per month for leasing the car)

b. Drive for a private hire (You get to moonlight during your free time but perhaps not so ideal during this covid-19 situation)

c. Own a car and lease it out/rent it via apps. This will cut your cost in owning a car

d. Take the public transport and Grab/Gojek. Times are different now, we are not at the mercy of Nazi Taxi Drivers.

Personally, I just am thankful during times when it rains. I get the comfort of going to somewhere at whichever time I wish without getting drenched. There isn’t any worries of price surge or cancellation. That said.

Disclaimer

This is not a sponsored post and purely my own opinion that I am writing about in my thoughts. If you like what you are seeing, do remember to check they out and do your diligence. Don’t be too fixated with what is the best.

If you like what I am sharing or if it resonates with you, do use my referral codes for other services and products here at https://atomic-temporary-178675883.wpcomstaging.com/contact/ for the services.

Images seen in this article were take off the relevant websites for illustration purposes only.