Tuesday 29 October 2019

Wrongly charged on credit card

So recently I went on a trip to Korea and booked all my accommodation through a booking agent. I previously had very smooth bookings with a booking agent and so that's why I decided to use them again.

For my Seoul hotel, I booked a hotel called Hotel PJ Myeongdong initially however, due to some technical error, the booking agent called me and mentioned that it was cancelled.

So I took it as being cancelled however, when I received my credit card bill at the end of the month, I realised that an organisation called OIL TOURIST SEOUL had charged me SGD 210.

I was quite shocked as i tried to recall what did I purchase on that day as most of my things were already paid up for the trip. I decided to call the bank and they told me that it was under a hotel transaction and told me to check with the booking agent.

This was when everything just went bad, I had to email the booking agent so many times about it and they were so adament that it wasn't booked as their system showed that it was cancelled.

In the end, I had to google maps the location and it matched hotel PJ and I sent the screenshot over. Only then did they help me to check with their supplier and the amount was eventually credited back to me.

I used to always ask my mum to GIRO her bills so that she would not need to worry about not paying it but I guess it is really important to look through your bills and make sure that you are not being wrongly charged for anything.

Wednesday 16 October 2019

Self Doubt and Dilemma when faced with a job offer

I was having a meal with my colleague recently and she told me that she has an offer from another company but she is in a dilemma on whether she should accept it.

Some basic background is that she has been working in the current company for 5 years and is in her late 20s.

She actually wants to change job as her current job demands a lot of overtime and also many supervision on her fellow colleagues who are as experienced as her.

Overall, she is a valued team player but she does feel that she is paid a lot lesser when comparing with her friends and seeing how her compensation is.

That's why on one hand, she is considering changing her job due to the compensation but on the other hand, she is very good in her job right now and is comfortable in her position.

She feels that she can't handle a new environment if she changes her job but to be honest, I think she definitely will be able to as she is rather capable.

She is still young and I feel that she should explore more options available to her as she has stayed pretty long in the current company and has learned quite a lot from it.

But I also understand that some people do really like being comfortable in their work environment and if the company is treating them well, then why not just stay?

For me, I do feel that being in the company for a long time can make your a little 'lazy' in that you get too used to the work and also the routine. So if you are still young and can adapt fast to new work, I think it is good to expand your horizons and learn more.

Of course, you need to be given the opportunity to do so and I do feel that my colleague has a very good job offer waiting for her. The ultimate decision still relies on her and what she wants for her career.

Monday 14 October 2019

2% interest per annum - Stan Chart Jumpstart

Last Sunday, I came across an article written by Heartland Boy about the Standard Chartered Jumpstart Account.

The account is a savings account with a main benefit that attracted me is that it will provide 2% per annum interest on your savings.

One main condition is that you have to be between 18 years of age to 26 years old, only then are you able to open this savings account.

I read through the conditions and found a few good benefits of the account:
  • 2% interest per annum on the account balance on first $20 000.
  • No fees and minimum deposit balance required. 
  • No lock-in. No minimum spends. No requirement for salary-crediting.
  • Cashback debit card with 1% on all eligible transactions, capped at S$60 per month.
1.  2% interest per annum on the account balance on first $20 000.

This is a huge thing that made me want to open this account. 2% per annum is not much but it is high for a savings account in Singapore.

Recently, Singapore saving bonds interest rate has not been so attractive, providing about 1.62% for the first year. So this means that this saving account can provide better returns for my money and also it will be easily accessible as it is a savings account.

2. No fees and minimum deposit balance required.

This means that no minimum balance is required and that even if your balance is $0, no fees will be deducted. Usually for savings account, there will be like a minimum balance of $500 or even up to $3000 and if you do fall below that amount, an amount will be deducted from your balance.

With no minimum balance, especially for those who are aged 18 years to about early 20s, it can really help.

3. No lock-in. No minimum spends. No requirement for salary crediting. 

With the other banks, a number of requirements need to be fulfilled before you can get 2% interest on your account balance.

For the Jumpstart account, whatever balance you have in there would be eligible for the 2% interest with no other requirements needed. Currently, many other accounts that can provide a higher than average interest requires at least salary crediting and other requirements, but for the Jumpstart account, no other requirements are needed.

4. Cashback debit card with 1% on all eligible transactions, capped at S$60 per month.

I have a colleague whose pay is not eligible for her to apply for a credit card. With this cashback debit card, my colleague can at least get some benefits.

This in a way is good for her as she is not able to enjoy the credit card benefits as she can't apply for one currently.

Of course, in it's terms and conditions, Standard Chartered has mentioned that they may change the basis and rates of the prevailing interest at any time with prior notice. All in all, I find that it is really a fuss-free way of getting that 2%.

Thursday 3 October 2019

September 2019 portfolio and dividends review

September has been a busy month as my brother was back from his first year studying overseas.

Since he came back, we took a short one week family trip to Korea and then after which he spent 2 weeks in Singapore and he just went back on Sunday morning.

September has been an eventful month especially on the topic of climate change as effects of climate change became more prominent due to the Amazon fires and the Indonesia fires as well that directly and immediately affected us through the haze.

For my portfolio, as usual not much movement except for the addition of G3B, Nikko AM STI ETF through POSB invest saver.

59 units were added at a price of $3.322.

Currently as of 29 September 2019, my portfolio is about $12, 835.82. I hope to increase it to $15, 000 by end of this year as I am already eyeing to buy some stocks.

My current portfolio: 

Dividends received this month: $81.91

1. Far East Hospitality Trust: $16

2. First REIT: $22

3. CapitaRetail China Trust: $44.30

For the coming Oct 2019 dividends, there will be SGX. Looking out and will be following news relating to Brexit that will be happening on 31 Oct 2019.

Maybe it will be a good time to snag some stocks?

Read more about my portfolio updates in 2019