In 2003 I had only $4.35 in Bank Account

I was just flipping through my old bank records when I came across this entry:

100403 = ***********4.35

Yes..there was a moment in my life that I actually had only $4.35 in my bank account! I was too proud to ask my parents for money even though I could.

I remember those days and weeks while I waited for the next pay check. It was terrible. The only consolation was that I still stayed with my parents back then (was not married in 2003) so I had no bills to pay and stuff. Food was also free =)

The feeling was just so terrible. Friends asked me out and I gave excuses not to go.

That lasted for close to a month where the magic wall (ATM machine) would not give me any cash. The minimum withdrawal was $20 just in case you did not know. I almost wanted to go to the bank to close the account so that I could take out the $4.35 inside.

Ha.. Those were really the days..

Family Networth Hits $500,000

With the brief stock market recovery/rally, my family's total networth (assets minus liabilities) has exceeded $500,000 for the first time.

Not a time to celebrate though as the markets might drop and bring our networth down again.

Old Post from ST Forum

An old post from ST Forum. Is the Swede quality of life really that good??


Swede quality of life

I REFER to Ms Heng Siew Cheng's letter, 'Why one couple is resettling in Sweden'', (July 17) and the replies by Singapore Senior Minister of State for Finance and Transport, Mrs Lim Hwee Hua (July 22), and 'Where else can you buy your home in 5 years?'' by Mr Peter Wadeley (July 24) My Singaporean wife moved to Sweden in 2001. She gave birth to our first child, a boy, last November. We are now on holiday, extending our first flush of joy of parenting in Singapore with my wife's family.

My wife, a teacher, is on a year's maternity leave. I am on paternity leave for 45 days here. When I return home, I shall still be on paternity leave for three more months. The generous duration of our parental leave is mandated by the state. Mr Wadeley implies that Singaporeans can buy a home in five years. I disagree. Last year, the median household income was $4,870. Even with grants, an average family cannot pay off a flat that quickly. It is also unachievable for Ms Heng and her Swedish husband, even if their collective income barely breaches the HDB's $8,000 bar.

Mrs Lim's comparison is incomplete. Nine in 10 Singaporeans merely lease their homes (HDB flats are typically 99-year leaseholds). Freehold ownership is higher in Sweden: Forty per cent live in landed property, 20 per cent in freehold condos and 40 per cent in rental flats. Swedish rental flats are akin to HDB flats. The main differences are that there is no downpayment, and the rental contract does not expire.

It is true, as Mrs Lim says, that Swedes spend 13 per cent of their income on housing. But for the money, half of us have our own garden - and precious time - to play with our children.

She suggests it is less expensive to raise children here. It is true that consumer goods are cheaper here and Singapore ranks third globally in per capita GDP (purchasing power adjusted) and Sweden 12th, according to the World Bank. But as more of Singapore's GDP comprises imports and exports, the statistic does not reveal the extent of benefit to its citizens.

The World Bank uses Household Final Consumption Expenditure (HFCE) as an affordability benchmark. Including goods and services provided by the government, it tells how much one has for useful spending, either directly or through tax. Sweden's HFCE per capita, in 2005 figures, is US$30,000, (S$42,000) double Singapore's US$14,000.

Ms Heng is concerned about raising children here. Having lived in both countries, I agree. The United Nations' Human Development Index, based on 350 indicators, tracks 'a long and healthy life, knowledge and a decent standard of living'. Sweden ranks sixth worldwide, while Singapore trails at 25th.

I am not advocating the adoption of Sweden's welfare system wholesale. But, if Singapore adopts a tiny part, giving parents flexibility and cheaper childcare, it probably means a tax hike of just a few per cent.

I would like to extend a warm welcome to Ms Heng to Sweden.

Jan Sundström

$120 Dividends From NOL

Received $120 dividends from NOL

My portfolio of stocks has also risen in value by $10k. Still sitting on paper loss though for some of the stocks

So the Bull (or Bubble) is Here ($1500 to be coming soon)

So it seems that the bull market is back in full force. Or maybe it is simply too early to tell. It could be the greatest Bubble for all we know.

I guess most people have missed the bull run up as share prices of alot of stocks have already risen dramatically over the past few days. Seems like the swine flu and the global financial crisis no longer strikes any fear in people.

It is good to see my portfolio recover some of its paper loss. But of course I am lamenting the fact that I have missed this great opportunity to ride the bull up. I was not too disciplined in doing my dollar cost averaging as you can see.

Anyway, the month of May will be a bountiful month for me in terms of dividends. Below are the list of stocks that I am holding that have declared dividends:

1. ChinaAOil (SGD 0.02 per share)
2. First REIT (SGD 0.0188 per share)
3. Innotek (SGD 0.05 per share)
4. KingBoard (HKD 0.01 per share)
5. NOL (SGD 0.04 per share)
6. ST Eng (SGD 0.128 per share)
7. Suntec REIT (SGD 0.02918 per share)
8. KepLand (SGD0.08 per share)

I estimate that I should be getting about S$1500 plus in dividends for the month of May.

Hmmm.. so maybe its not too bad also..some extra cash in my pocket.

One Thing I Enjoy Doing

What would you do if you attain financial freedom?

One thing I would surely do.....Complete my Singapore Mint Stamp Collection =)

I enjoy collecting stamps. Mint stamps to be exact. It is a costly hobby and so I have stopped buying stamps online for a while already. I used to buy stamps regularly through Ebay.

Hoping to revive this hobby of mine once I have spare cash. Wanted to buy this set of stamps last year but forgot to do so.

Earn $1000 a month Working from Home

Look at this website:
(afternote 05 May 09: Pls look at the website below at your own RISK. I have been informed by someone that there is a trojan horse in the webpage)
http://www.simplyrich-sg.com/yfs


It shows how a woman (named Irene Lim) in Singapore actually makes loads of money by working from home. I am not too sure how true it is but if she can make so much money , why can't I?

From what I gather, she most probably is selling some stuff using Clickbank or something. It sure doesn't seem like Google's Adsense.

Wonder whether any readers out there have ever signed up for any similar stuff that teaches you how to make money online?

Her testimonial is pasted below as follows:

Dear Friends,

Spare me a few minutes to read my story below, you have my word that it is the
honest Truth and your worries about money could be a thing of the past.

My name is Irene Lim. I am from Singapore. Just a housewife married with 2 kids.
Just like you, I chanced upon a site just like this, claiming to enable me to earn
thousands and thousands a month. To tell you the honest truth, I said to myself
"This can't be real". But being desperate for a stable income to help my husband
support the family and provide a good life for the kids, I read on and became
more and more convinced by the words and information laid out by the author.

As a housewife, I did not work and had very little knowledge about the Internet,
all I knew was how to play some games my daughter showed me and emailed
between old friends. I never imagined that making money online was even
possible. But with very much joy and gratefulness, I can honestly say that I did it!

Read on to find out how I did it!

Now I even make money while I am fast asleep. Secrets Book: Secrets of
Earning Online allowed me to have abundant time to enjoy my life. As you
know, you only Live once and there are some chances worth taking if you want to
be successful. As for the chance I took, I gave lead me to where I am today. Free
of all money worries with my leap of faith.

If a housewife auntie like me can achieve it, so can you. Do you want to throw
away your "money worries", The thought of not being able to afford nice clothes,
good meals for the children or perhaps not being able to provide your parents
and in-laws. I'm sure you would strongly agree with me on this.

Below is my Clickbank account for the Updated Every 2 Weeks. Every cent is
earned with the Secrets of Earning Online. All the amount is in American (USD)
dollars and the cheque is mailed to my home every 2 weeks. I just bank them
into my Singapore POSB savings account. I even scanned the cheque that I
receive every 2 weeks as proof for all of you to see. Be reminded that all I have
is an "O" level cert with less then 5 credits. All I did to earn more then $10,000
in 2 weeks is follow the step-by-step instructions of the Secrets Book system. See
Below For Proof