7 Ways To Save S$100

Singapore's annual inflation rate was 6.5 per cent in July, easing from record highs in the previous three months. The July rate fell from 7.5 per cent, a 26-year peak recorded in April, May and June.

Statistics showed July's consumer price index (CPI) increased primarily because of higher costs for housing, food, and transport and communication.
Some economists said inflation in Singapore is likely to moderate in the second half of this year. This will bring inflation for the year in line with the Singapore government's forecast of between 6 and 7 per cent.

With these factors in mind, I suggest 7 ways to save S$100! There will be more ways, so I welcome all suggestions.

1) Shop Around For Motor Insurance Rates

When you buy a new car or upon receiving your motor insurance renewal notice, do not assume that you are getting the best deals! Call me immediately for a new quote. My clients have saved as much as $900 after they checked with me!

2) Challenge Your Property Tax

Are you aware that you are allowed to challenge your property tax? It is not cast in stone by the tax department when you receive your new property tax bill. If your investment property had been getting a rental of $2000 (based on an old tenancy agreement signed 3 years ago) while comparable properties around your unit were getting rentals of an average $4000, you can ask IRAS to reconsider their calculations!

3) Shop For Food Bargains

Do not assume your regular shops are giving you "discounts" or "the best prices" just because you are their regular customers. Check out the weekly promos from Giant, Carrefour, NTUC Fairprice, Sheng Siong and Cold Storage. I particularly aim for Carrefour's promo on whole Salmon Fish when the price goes down to $1.10 per 100 grams. Recently I also bought 4 boxes of 750g Muesli Cereals for only $6....yummy!

4) Pay off Your Life Insurance Policy Loans

If you have been delaying the repayment on your personal loans from insurance companies, think again. You might be incurring 5.50% to 7% per annum compounded yearly!!! You should monitor the loan amount and interest closely to ensure that it does not exceed the cash value of your policy otherwise the policy will be terminated.

5) Rethink Your Holiday Plans

If you have not tried 'Free n easy' holidays and flying on budget airlines before, why not? For flights below 3 hours of flight time, budget airlines are a great way to fly. Look out for their occassional "2 for the price of 1" promos. Last year I flew my family (4 of us) to Ho Chi Minh City and back for just $720 ( all taxes included). Hotel stay was only US$34 a night for a huge airconditioned room with two King sized beds and the hotel was clean and the staff gave us great service too. It was just a two minute walk to Ben-Thah market ( Fantastic value-for-money shopping )

6) Review Your Mobile Phone Plan

With our 3 major telcos trying their best to retain subscribers, they are giving lots of incentives to keep you as their customers. Call your service provider for the best plan for you and your kids if your contracts have ended. Jump ship if they are not willing to help you, you can still retain your telephone number due the portability of mobile phone numbers now.

7) Buy Low, Sell High

Many Unit Trust investment funds have gone back to levels where they are screaming "CHEAP SALE, CHEAP SALE"!!! If you have idle money sitting in the bank earning fixed deposit interest rates of1.7% or less, you are losing your money to inflation (6 to 7%) right? Fear (emotion) instead logic (market fundamentals) is currently ruling the financial markets. It takes a brave heart to get in while others are quivering at the side lines, waiting for "signs" of recovery. Those who dare will be handsomely rewarded .

Need more details? Just write to me or give me a call. Thanks!

Well, I hope that you will be able to save lots of money with these 7 ideas and if you have more great ideas, please share with us by leaving your comments at the end of this posting. Thanks again!

Usain Bolt Wins Olympics 100m in 9.69 secs A New World Record!!!

Where There Is A Will, There Is A Way!

"How do I distribute his assets?" a widow may ask, "I haven't a clue as to what he wanted to do with them. He just left without a word."

Is this the scenario we want to have when we, the heads of our household, depart from this world?

Leaving our loved ones suddenly without a will, is like, a Navy captain of a ship who abandoned his vessel without telling anyone his plans for the ship. Where he is heading to, what to do with the cargo in the ship's hull etc...

It will be a very traumatic experience for our survivors.

When we have a will professionally done to cover all aspects of our financial assets, we can rest assured that our loved ones will not quarrel and fight among themselves for the assets which they "think" they are entitled to.

If you don't decide for them, the Singapore Intestate law will decide for you. If a widow does not have any children, she will not get to receive all her late husband had, She will have to share 50% of his assets with her parent-in-laws. Great if she was on good terms with them. Not so great if she was at war with them.

So if you do not have a will, husband or wife, please contact me so that I can help you get one done asap professionally.

Life Without Limbs

Nick Vujicic will motivate you to live your dreams and fulfill all the goals that you have set. Watch the video now! All glory to God.

"In Christ Alone"
Words and Music by Keith Getty & Stuart Townend

In Christ alone my hope is found;
He is my light, my strength, my song;
This cornerstone, this solid ground,
Firm through the fiercest drought and storm.
What heights of love, what depths of peace,
When fears are stilled, when strivings cease!
My comforter, my all in all—
Here in the love of Christ I stand.

In Christ alone, Who took on flesh,
Fullness of God in helpless babe!
This gift of love and righteousness,
Scorned by the ones He came to save.
Till on that cross as Jesus died,
The wrath of God was satisfied;
For ev'ry sin on Him was laid—
Here in the death of Christ I live.

There in the ground His body lay,
Light of the world by darkness slain;
Then bursting forth in glorious day,
Up from the grave He rose again!
And as He stands in victory,
Sin's curse has lost its grip on me;
For I am His and He is mine—
Bought with the precious blood of Christ.

No guilt in life, no fear in death—
This is the pow'r of Christ in me;
From life's first cry to final breath,
Jesus commands my destiny.
No pow'r of hell, no scheme of man,
Can ever pluck me from His hand;
Till He returns or calls me home—
Here in the pow'r of Christ I'll stand.

Never Give Up, Nothing Is Impossible.

If Tony can play the guitar with his toes, what kind of problems can bring us down?
Be blessed, motivated and inspired by this man of God.

Why Buy From Various Life Insurance Companies?

Some people wanted to buy ALL their Life Insurance Policies from ONE Life Insurance Company. Very loyal subjects indeed.

Little do they know that when it comes to a death claim, their next of kin will only be able to receive an advance payment of $150,000 per insurance company without showing the letters of probate or letters of administration. A death certificate is not enough to release all the monies in excess of $150,000 because of Section 61 of the Insurance Act below.

Death Claim - Section 61 of the Insurance Act

This Act allows an insurance company to pay an advance payment up to a maximum of $150,000 of the proceeds after claims admission to the proper claimant named as follows:

Proper Claimant means:
Executor of a Will
Widow/ widower
Parent or Child
Brother or Sister
Nephew or Niece

The balance proceeds will only be paid after the insurance company receives the Estate Duty Clearance and Letter of Administration/ Probate.

Now you know...

If you intend to insure yourself for $1,000,000, it is best to get it from a few companies instead of just one company. For example, if you insure with 3 companies, your next of kin will receive $150,000 x 3 = $450,000 upfront instead of just $150,000 from just one insurance company.

Remember, letters of probate or administration will take quite a while to get, just ask any lawyer you know.

If you want a hassle free way to get insurance coverage from 3 companies, you must call me as I am able to do it for you. No need for you to look for 3 insurance agents, just call me at 9001-1082.

Have a blessed weekend!

In financial planning, I separate the best from the rest!

Life Insurance Claim

Many people have asked me upon a death claim due to Cancer, for example, can their next of kin claim from all their insurance policies.

My answer to them -

YES, they can, provided the insurance policies are life insurance policies.

NO, if their policies are accident insurance policies and hospitalisation insurance policies.

If you have 10 Life insurance polices ( example - Term Insurance Policies, Whole Life Policies, Endowment Policies, Investment Linked Policies, Single Premium Investment Policies ), your next of kin can claim from ALL of them.

If you have 10 Accident Insurance Policies, you cannot claim a single cent because the death was not due to an accident. It must be due to external causes of injuries.

If you have an Annuty Plan that has been paying you a monthly income, the monthly payment will stop and any balance amount in your annuity account will be paid to your next of kin.

One point that most people overlook is that when you buy 10 Life Insurance policies, it is better to buy from different insurance companies instead of buying from just one company.

Why?

I will tell you on my next blog.

You can also contact me at 9001-1082 for the answer if you can't wait!

God bless you with peace and happiness in your life.