I managed to reduce my monthly phone bill expenditure by $5. This was done through cancelling of the international roaming which I have not been using.
It will cost me $10 to reactivate it the next time but I guess I will not be needing any international roaming at least for the rest of the year as I do not expect to be going overseas.
Monthly Expenditure - Reducing my cable bills
I have removed my high definition (HD) plus option for my cable tv. This reduces my bill by S$15 a month. Just a 5 minute call and that saves me $15 a month!
Decided that it was not worth while paying for 3 additional HD channels when I do not even watch them that regularly. Besides, the programs are roughly the same as the ones that are non-HD. And what's more, I can't really tell the difference between HD and non-HD!
So there you go, a savings of $15 a month.
Decided that it was not worth while paying for 3 additional HD channels when I do not even watch them that regularly. Besides, the programs are roughly the same as the ones that are non-HD. And what's more, I can't really tell the difference between HD and non-HD!
So there you go, a savings of $15 a month.
Home Insurance
No financial planning is complete without insurance. I would be adding in details of the various insurance that I have.
Let me start with my home insurance.
The coverage details are as follows:
Coverage Descriptions Limit (SGD)
Building = $150,000
Alt Accomodation Expenses = $4,500
Household contents = $30,000
Contents at Temporary Premises =$4,500
Replacement of Locks & Keys = $250
Personal Accident (<66 liability =" $500,000" style="FONT-WEIGHT: bold">S$81.00 per year.
In conclusion, I think my insurance coverage for my home is pretty well covered. The only way that I can improve the coverage is if I am able to find another insurance that provides the same coverage but at a lower cost (i.e. less than $81.00 per year)
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Let me start with my home insurance.
Since I am using my Central Provident Fund (CPF) for my monthly housing installments, I have to be covered under the Home Protection Scheme (HPS). HPS gives me protection up to age 65 or to the end of the loan period, whichever is earlier. In the event of permanent incapacity or death, the Board will pay up the outstanding housing loan so that my family can keep the flat. That is if my loan is 100% covered for. So for an annual premium of $200 to $300, my outstanding mortgage loan is covered should anything untoward happen to me. Isn't that wonderful planning by the government!
If you have a private life or mortgage reducing insurance which is sufficient to cover your outstanding housing loan, you may apply for exemption from HPS. The above also applies if you are paying the housing instalments under PHS. HPS is optional only if you use cash to pay your monthly housing instalments.
Apart from HPS which covers my mortgage loan should any untoward happen to me, I am also covered by AIG American Home Assurance Company.The coverage details are as follows:
Coverage Descriptions Limit (SGD)
Building = $150,000
Alt Accomodation Expenses = $4,500
Household contents = $30,000
Contents at Temporary Premises =$4,500
Replacement of Locks & Keys = $250
Personal Accident (<66 liability =" $500,000" style="FONT-WEIGHT: bold">S$81.00 per year.
In conclusion, I think my insurance coverage for my home is pretty well covered. The only way that I can improve the coverage is if I am able to find another insurance that provides the same coverage but at a lower cost (i.e. less than $81.00 per year)
Read Related Posts:
Car Insurance Money Saving Tips
Financial Freedom Journey
Rule #1: Live within your means or below your means.
My Starhub cable bill just came at a total amount of S$41.73. This is a reminder to remove my free HD setup that I have been enjoying for the past 12 months. Removing this would save me $15 a month.
My Starhub cable bill just came at a total amount of S$41.73. This is a reminder to remove my free HD setup that I have been enjoying for the past 12 months. Removing this would save me $15 a month.
Earning $1 a Day Through Adsense
This will be one of my additional goals for the year.
I will aim to earn $1 a day through Adsense. This would give me a passive income of $30 per month. This would require me to learn how to direct alot more traffic to my site. In order to do that, I guess I would have to write interesting posts that would attract people to read the blog.
(Update on 31 Oct 2009: This goal has been achieved. For Sep 09 and Oct 09, I have managed to earn more than $30 per month)
I will aim to earn $1 a day through Adsense. This would give me a passive income of $30 per month. This would require me to learn how to direct alot more traffic to my site. In order to do that, I guess I would have to write interesting posts that would attract people to read the blog.
(Update on 31 Oct 2009: This goal has been achieved. For Sep 09 and Oct 09, I have managed to earn more than $30 per month)
Updated Passive Income for 2008
Updated the current sources of my passive income. Maybank deposit is now giving me $13 per month instead of $12 per month which I estimated.
1. 11,000 x Ascott REITs (DPU = 4.52 per half) = $82.87 per month
2. 15,000 x First REITs (DPU = 1.91 per qtr) = $95.50 per month
3. Maybank iSavvy Deposit = $13 per month
Total passive income per month now stands at = $191.37
I will also wait for the distribution from First REITs and Ascott in end August to buy some more passive income generating stocks or REITs.
1. 11,000 x Ascott REITs (DPU = 4.52 per half) = $82.87 per month
2. 15,000 x First REITs (DPU = 1.91 per qtr) = $95.50 per month
3. Maybank iSavvy Deposit = $13 per month
Total passive income per month now stands at = $191.37
I will also wait for the distribution from First REITs and Ascott in end August to buy some more passive income generating stocks or REITs.
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