Tag: special

Petrol Prices – Ways to Save Money On Petrol/Diesel

On By RistrettzIn Interest, New Ideas, Personal Finance Series, Promotion, Random, Wealth & HealthLeave a comment

Just earlier today. I wrote a piece about saving money and I was reminded of petrol prices. Stay tuned until the end for a nice freebie at the end which is in limited stock.

Sometimes saving money is about not spending it at all or cutting back on what we commonly call an austerity measure. Usually, that is quite drastic and meant to be a joke of some sort. However, some things have to be spent, necessities or even things that you have previously committed to paying for. It is akin to having a car and petrol prices are directly linked to costs.

For Example:

  • You purchased a home. You can’t stop the mortgage
  • You purchased a car. You can stop the financing payments (If any) and the petrol costs or the charging costs.
  • You purchased a subscription plan that has a contractual period. You can’t stop the payment. (Well, you can do an early termination if it makes economic sense)

I don’t wish to keep discussing the increase in GST. In a sense, this increase is necessary for economic gains and country-building. Additionally, business costs have increased, snowballing effect of the laggard inflation and upcoming soft landing is becoming apparent.

Petrol Prices

Discussing petrol prices has always been contentious with people around here. Regardless of any discussion, the price is as such. On the Price Kaki website, there’s a comparison of petrol grade 95, 98 and Premium.

Petrol Prices
Petrol Prices: Petrol Grade 95 as of 12 Jan 23
Petrol Prices
Petrol Prices: Petrol Grade for 98 on 12 Jan 23
Petrol Prices
Petrol Prices: Petrol Grade for Premium on 12 Jan 23

In this year 2024, I wish to be able to bring joy to others as much as possible so in that aspect I have a good deal for anyone who drives a car and would like to get direct discounts from the petrol kiosk.

Don’t be confused and don’t be sceptical about it. It is a good deal and I have been using it for 9 months now so it is not a sham. I have a limited fleet card on hand at the moment and would like to offer to the first 5 pax who indicate their interest on google forms here: Fleet Card Interest Gathering and First 5 GIveaways.

One condition is to follow/subscribe to my blog and also to add my telegram channel here at Life Journey Telegram. Thank you!

The first lucky 5 gets it.

Rest assured, this information is for me to understand how to address you and share that information via email. I’m gathering some interest here so let me speak with the guys and see if we can release more slots for you.

Save on Petrol Prices – Pros

1. No age or salary restriction

This is not a credit card. Anyone who has a vehicle registered in Singapore has proof of address in Singapore and a credit card for recurring payment can apply for this. There’s no bank involved in this.

2. A physical card

It is a physical card at the moment and is only available to ESSO and SHELL kiosks in Singapore.

3. Fabulous Discount on petrol prices

Perks for this card are a direct 23% or 24% for SHELL and ESSO respectively.

4. No Complications. No minimum spend or Top Up

Away with the complications of minimum inclusive spending and potential discounts. To me, cold-hard discounts are the best since they are upfront discounts.

5. Ease of Payment on petrol

This fleet card works like a credit card and you need to set up a credit card payment to pay once a month.

6. Convenience

Once you have been registered by the company, you will get a pin and each time you visit the kiosk, just the card and you can skip the cashier queue. That’s really convenient.

7. Continue to earn credit card rewards/miles/cashback

Even more, discount via double dipping and still be rewarded with your credit card rewards.

Save on Petrol Prices – Cons

1. New to Many

I understand the scepticism but what have you got to lose other than savings for your petrol.

2. No accumulation of reward points on your petrol loyalty card

You don’t earn kiosk points or rewards that you have accumulated for some time. To me, there’s a cost to everything including reward points. Just finish up your points or claims and move on to something else. But you still earn reward points for your credit card (No exclusion for most cards – At least I still earn mine on my Premier Miles Card)

3. There will be a 1.8% fee for the credit card charges

I believe that they use Stripe as their provider so the B2B fees will be at 2.4% and they roll it to consumer at 1.8%, hence the discount will be All-in 21.2% or 22.2% which is still decent.

From what i understand, one can use the giro payment and it takes 4-8weeks to set it up. There’s no fee for that however if any one Giro payment fails, thats the $10 fee slapped on your bill for the GIRO return so think wisely. I think it is still good to go on credit card recurring payments.

If you like what you are seeing, do remember to check them out and do your diligence. There is no one-size-fits-all investment strategy and no one solution to life. Join my telegram group to find out more about deals and join the community to connect for ideas: Life Journey Telegram

I have a limited fleet card on hand at the moment and would like to offer to the first 5 pax who indicate their interest on google forms here: Fleet Card Interest Gathering and First 5 GIveaways.

If you like what I am sharing or if it resonates with you, do use my referral codes here at Referral Services

How to Save Money? Tips and Tricks

On By RistrettzIn Interest, New Ideas, Personal Finance Series, Promotion, Random, Wealth & HealthLeave a comment

Saving money is an essential aspect of personal finance. Implementing some smart strategies can help you build your savings and achieve your financial goals. Here are a few tips on how to save money:

Saving Money
A Rainy Day fund is more apparent in 2024 as we all set ourselves for the soft landing ahead

Create a Budget:

Start by reviewing your expenses and income. This will give you a clear picture of where your money is going and help you identify areas where you can cut back.

Track Your Expenses:

Keep a record of all your expenses, including small purchases. This will help you understand your spending patterns and identify areas where you can make adjustments.

The envelope theory involved stashing cash away in different envelopes. This helps with the first condition – budgeting. In this day and age, perhaps a better way is to use a digital app such as Dobin.

I’ve found the ultimate personal finance app: It helps to manage my money & save on everyday purchases.

Quote: Download the app here: https://www.dobin.io/download. You may use my referral code when you sign: ZUPUNWI 

Cut Back on Non-Essential Expenses:

Review your expenses and identify items or services that you can live without. Consider making small lifestyle changes such as reducing dining out or entertainment expenses.

If you really still plan to have these expenses to eat out. Perhaps playing the miles game as you spend to double dip on rewards.

Kris+ is a lifestyle rewards app that gives you discounts and privileges at over 1,000 partner outlets islandwide! Earn rewards (KrisPay miles) for payments made on the app, and use them to offset future purchases!

Quote: Sign up now with my link below, and my referral code L329518 and we’ll each be rewarded with SGD 5 worth of KrisPay miles upon your first transaction on the Kris+ App 

Don’t forget to check in daily every week to earn about 30 KrisPay Miles. Meanwhile, you can also utilize Google Pay to make payments via Krist+.

Quote: Use my code when you sign up and transact at least S$10 for the first time in Google the  e Pay App or use my code t74cf8f

Meal Planning:

Plan your meals ahead of time and create a grocery list. This will help you avoid unnecessary trips to the store and impulse purchases. Look for sales and use coupons to save on groceries.

The CDC vouchers should do most household some good and defray some costs. More about that here if you have not claimed yours. Claiming your CDC Vouchers

Save on Utilities:

Make small changes in your daily habits to save on energy costs. Turn off lights when not in use, unplug electronics when not in use, and adjust the thermostat to optimize energy usage.

Perhaps switching to an Open Electricity Market retailer can save you  10-15% off your electricity bills.

Quote: Sign up for Senoko Energy with my referral code: “YM8SCA2D”. You will receive a S$20 rebate on your electricity bill. Browse their price plans and start saving today. T and Cs apply. Senoko is your electricity retailer

Compare Prices:

Before making a purchase, compare prices from different vendors or stores. This can help you find the best deals and save money.

Saving Money
Double or Triple Dip for More Savings

 

For comparison’s sake, if you are exchanging a foreign currency for any purpose. You can try iChange for money exchange and remittance.

Quote: Their rates are very competitive. Sent $5 for you to try it out. Download the app here https://ichange.onelink.me/Px1i/iyv9ymrr and add paul38 to receive it.  

Alternatively, if you want the convenience of using multi-currency cards, there are three options that you can consider. You get the idea.

  1. You Trip Personal User: Get $5 when you sign up. Sign up with my referral link: Personal YouTrip (Valid until 4 Feb 2024)
  2. The other option is to perhaps consider using a Revolut Card as an alternative and you can get $80 when you make three $10 transactions:  My Revolut Referral Link
  3. Quote 3: Use this Crypto.com App to sign up for Crypto.com and we both get USD 50. Code: im3py887ty

Automate Your Savings:

Set up automatic transfers from your checking account to a dedicated savings account. This way, you’ll save money consistently without having to think about it.

Other than a bank standing instruction, the alternative is to use Money Market Funds for either:

  1. Using Tiger Brokers as a platform to sign up to make that regular saving.
  2. The other option is to select another provider such as Moomoo Brokerage Invest App for a great welcome starter kit here at Moomoo Invest App
  3. The third option is to select Webull and get your starter kit promotion. Click here to register at Webull Sign-up link

Avoid Impulse Buying:

Before making a purchase, give yourself a cooling-off period. This will help you evaluate if the purchase is necessary or if you’re buying on impulse. As the saying goes, delayed gratification. Any new tech is always appealing and after a while, it loses its appeal.

Cancel Unnecessary Subscriptions:

Review your subscriptions and cancel those you no longer use or need. This could include streaming services, gym memberships, or magazine subscriptions[1].

Prioritize Debt Repayment:

If you have outstanding debts, focus on paying them down. High-interest debts, such as credit card debts, should be prioritized and paid off as quickly as possible.

Remember, saving money is a gradual process, so be patient with yourself. Small changes can add up over time and lead to significant savings. By implementing these tips, you’ll be on your way to building a more secure financial future.

Disclaimer

If you like what you are seeing, do remember to check them out and do your diligence. There is no one-size-fits-all investment strategy and no one solution to life. Join my telegram group to find out more about deals and join the community to connect for ideas: Life Journey Telegram

If you like what I am sharing or if it resonates with you, do use my referral codes here at Referral Services

CPF (Assisting your Retirement?)

On By RistrettzIn Personal Finance SeriesLeave a comment

Whenever we touch on the topic of CPF, also known as Central Provident Fund (Pension Fund – The Europeans and Americans call it), people get kind of edgy and upset. What I do observe is that mostly a certain group of people is really anti CPF. The first group is those who are anti-government, not fueling anything here but just a general consensus. The second group is the retirees or about to retire folks who didn’t have a decent education (At that point in time, it wasn’t necessary to have the paper qualifications) and the last group is the self-proclaimed Warren Buffet who claims to beat the market.

The Central Provident Fund

The CPF in my opinion, is something of a great system. There are certainly flaws to it but in my view it is the perfect, AAA grade, higher yield returns that can supplement all our retirement fund. There are certain risks but There are no investment tool has no risk in reality. I finally conclude that as a result of these 3 group of people, these are the reason why so many people dislike the CPF system.

The AAA rating

a. Unfortunately, it is a complex system – You need to read up and understand how it works to appreciate the system

b. Inflation rate is here to stay hence the increase in the minimum sum yearly

c. No one is taking your money away.

d. No. There is no crystal ball. Statistically, it is proven that you can never win 100% of the time. Anyone who have tried or attempted to invest their monies will know that there is no clear strategy out there but a lot of hard work so you will not be able to beat the benchmark all the time.

e. Good quality investments and yields are hard to find these days. Perhaps it is a reality check and time to reflect about strategies as well as accepting facts and the markets

Understanding what CPF is about

When I first explored CPF, it was when I was out of school into my first job. At that time, CPF seems like a Goliath – You think you know but eventually, you slowly find out stuff which you never know before and for a long period of time I put off reading up more about them. It was many years back that I started reading financial blogs and it became like a ritual. I’ll do that almost any other day.

Back in those days, there were less bloggers so you will still need to dig deep to find out how stuff works. Then came Technology advancements, social media and super apps/content apps. I also discovered a few more bloggers who actively shared about CPF. One one those whom I follow really closely is 1M65. His is a well-known blogger for CPF and he developed his own strategies around what the CPF has been doing for many years.

Life Cycle

1M65 is really about having a million in your CPF by 65 years old. Depending on how you look at it, he is preaching a 4M65 these days and base on his concept – I do think that is possible if you start really young. Anyway, his idea about have these sum of money is really to get you thinking about your own retirement early, not just when you are in your mid stage or even late stage of your life cycle.

Everyone is different

Most importantly, everyone is different. There is no need to look at it in the form of a showboat or saying that it is impossible. Being open and understanding how these people are doing do help yourself to be ready for retirement – You are doing your next generation a favour so that they will not fall into the sandwich class or fall in the same cycle again and again. Of course, teaching the value of money to the next generation is something that needs to be worked on as well. It’s not like they were given a sum of money to deal with in life.

Some people actually worked two jobs or even saved excessively so that they can put all their money into retirement. Again, lifejourney preaches about having your own quality of life. If you need to feel like you have to give up everything just to be thrifty (It is a really thin line to term it as miserly), then you would most likely have to re-think your strategy.

The Practical Approach

There are a lot of concepts that you can read about but most of them come from a theory. Personally, I don’t really like to dissect those as they are so technical and heavy. Most importantly, it is extremely boring to put them down in words and executing them is really the best way to practice

Stock market digital graph chart on LED display concept. A large display of daily stock market price and quotation. Indicator financial forex trade education background.

As 1M65 says, you can hate who or whatever but don’t hate free money. Initially, it sounded like a money grubber statement but eventually I came to realise that, it is really free money. If you have no plans to be an entrepreneur, there is a few things you have to take note of in CPF. Yes, I am sorry but everything has to start from the basics.

My View on CPF

a. My biggest take on CPF is to compound the interest. The more you have, the greater the growth. The younger you fill up your CPF account to accumulate interest, the faster and bigger your pension fund will grow.

bi. If you are below 55 years of age – Your first $60k in CPF will gain an extra 1% p.a. (This is capped at S$20k in your OA) The current base Ordinary Account (OA) is 2.5% (3-month average of major local banks’interest rates, whichever is higher)

bii. For most people, the next S$40k will most likely be in your Special Account (SA). For others who are still building your SA, that will be whatever that is in your MediSave Account (MA). The base rate for your SA and MA is at the current floor of 4% p.a. (which is also the 12 month average yield of 10-year Singapore Gov Securities – 10YSGS)

My Tips:

Your CPF interest is computed monthly based on the lowest balance for the month. This means that for interests paid out on your CPF accounts in Year 2020, the interest amount is based on what was captured monthly, compounded and only paid out to you in full before 1st Jan of 2021. (This is subjected to changes if you have transactions every month)

c. As much as possible, you have to try your best to hit the minimum sum as early as you can. (Combined OA and SA)  Once you manage to do that, you do not need to worry about the annual increase in minimum sum that is subjected to inflation.

My Tips:

Don’t lose faith if you have not or still very far from this. Everyone starts from $0. Let the small actions and do up your checklist one by one in order to build the financial confidence. Everyone is different – it is the end goal that matters.

d. Depending on your circumstances, you can choose to invest your CPF OA money after the S$20k accumulation. Similar to cash, have a long term goal and build your portfolio. Good companies and investment ideas doesn’t come easy. You have to make sure what you invest is more calculated risk. There is a risk to everything.

My Tips:

Don’t be affected by market noise. My tip is to buy when there is a price drop if the investment moat for the company still makes sense. (but always do your own diligence) You can also have different pockets of funds so that when there are opportunities or if there is a correction, you can be ready to enter the market. The rule is to always stay invested.

Summary

In Summary, CPF is not the perfect solution but a supplement of your retirement goals. In this aspect, we are responsible for our own money and retirement. No one else will take care of your money as much as you will do.  Only you will know your own financial situation. The question is to ask to meet these financial goals is that if you can cut back on your lavish lifestyle or even saving more to add to your pool of funds. No one can coerce you to do what you do not wish to.

Disclaimer

This is not a sponsored post. This is purely my own opinion about CPF and retirement. If you like what you are seeing, do remember to check them out and do your diligence. There is no one size fits all investment strategy as usual

Do check out some of my referral codes for other services here at https://atomic-temporary-178675883.wpcomstaging.com/contact/ for the services.

The pictures were taken from CPF website for this article.

Free Entry to Sentosa & Tokens (NDP Special)

On By RistrettzIn Personal Finance SeriesLeave a comment

We are definitely not going anywhere to travel for a prolonged period at this point in time. I would not advise anyone to as well so we probably have to Rediscover Singapore as what our Deputy PM and Finance Minister said. To a certain extent, I kind of like that idea. Singapore is small but there are stuff you can really explore. To put things to perspective, If you have an overseas friend who asks you what can they do when they come over to Singapore. (Zoo? Safari? Flyer?) I think we have more interesting stuff to do other than those.

Sentosa

Speaking of which, Sentosa has been trying to complete a face lift since like aeons ago and they are introducing free entry to the island.

Free NDP Tokens

You can register for the free tokens at https://ndp2020.sentosa.com.sg/ as long as you are a local or resident in Singapore. Every registered household can only redeem two Sentosa Fun Passes. (loaded with 10 tokens) That is not too bad for a family day out.

Once you have successfully registered for the free tokens, a registration confirmation email will be sent to your registered email address. Redemption can be done at Sentosa Ticketing Counters which you have to indicate when you register online.

Things to bring

It is a little troublesome but you need to select a date when you would like to go Sentosa but at the same time, you can edit/cancel the date. You also need to redeem from a member of the household – with proof of residency. So, do bring along the original form of identification and confirmation email for verification.

Disclaimer

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

The pictures were taken from Sentosa website for this article.