I’ve just found a website that sells relatively cheaper books. Price quoted is lower than Amazon (after factoring in delivery charges). The book I bought cost $32.17 at Kinokuniya but was priced at US$18.15 (estimated S$25) on the website. That’s a good 22% savings.
Drum roll… .the URL is www.bookdepository.co.uk …
There is no delivery charge worldwide. And I received my order about 1 week after placement. [I placed my order on 19 August 2010 and received it on 27 August 2010.]
I would strongly recommend this website and would definitely use it again!
Showing posts with label Expense Management. Show all posts
Showing posts with label Expense Management. Show all posts
Monday, August 30, 2010
Wednesday, February 24, 2010
Secret Compartment
I’ve often wondered why do old folks like to stosh their gold, valuables, etc in a safe deposit box. Rental of SDB can range anything between $100+ to $600, depending on the size of the box and location. It is so expensive.
Do people actually evaluate if it is worthwhile to keep their valuables in SDB. For example, if the items kept are worth $10,000 and the storage cost is $300, this could easily means that you are paying 3% just to safe-keep the items. In similar token, if the items are only worth $5,000, this person would be paying 6%. That’s quite a hefty sum. If you lose your keys or forgot to maintain sufficient amount for giro deduction, there could be penalties as well.
My suggestion is, if you have intention to do up any renovation/carpentry work at home, to consider creating “secret compartment” at home, where you can keep your valuables - a place where only your spouse and yourself knows the exact location, and better still, have it under lock and keys. And it can be anywhere at home, for instance, a well camouflaged corner of a cupboard. The key is, it must be well camouflaged. So let your imagination fly. Afterall, a penny saved is a penny earned.
Do people actually evaluate if it is worthwhile to keep their valuables in SDB. For example, if the items kept are worth $10,000 and the storage cost is $300, this could easily means that you are paying 3% just to safe-keep the items. In similar token, if the items are only worth $5,000, this person would be paying 6%. That’s quite a hefty sum. If you lose your keys or forgot to maintain sufficient amount for giro deduction, there could be penalties as well.
My suggestion is, if you have intention to do up any renovation/carpentry work at home, to consider creating “secret compartment” at home, where you can keep your valuables - a place where only your spouse and yourself knows the exact location, and better still, have it under lock and keys. And it can be anywhere at home, for instance, a well camouflaged corner of a cupboard. The key is, it must be well camouflaged. So let your imagination fly. Afterall, a penny saved is a penny earned.
Friday, February 12, 2010
PREPARING FOR BABY – THINGS TO BUY - BABYCARE [PART 4]
BABY CARE
• Baby Shampoo
• Baby bath
[I bought those 2-in-1 baby bath and shampoo type. I know of parents who prefer organic shampoo/bath. Depends on you. And whatever you prefer, do get shampoo/bath ready before baby arrives.]
• Bath towel
[Yes, do get this ready before baby arrives. Get 2 pieces so that you can alternate. Try to avoid towels thatare too big/thick as it takes longer to dry and harder to manage.]
• Face towel
[Yes, do get 1 face towel].
• Baby blanket
[Yes. You might want to use a receiving blanket when you bring baby home upon discharge from hospita].
• Bath mat
[No. I dun think this is necessary].
• Baby powder
[Yes. Recent trend has been going towards liquid talc powder which you may want to consider.]
• Baby power puff case
[Depends on what types of powder you use. ]
• Bath sponge
[I didn't use this as I set aside a small face towel solely for her shower use.]
• Bath tub
[Yes. You dun need a fanciful one, like odd shape, anti-slip base, etc. A simple one will be good enough].
• Cloth detergent
[Yes].
• Cotton swabs/buds
[Yes. Just get a packet. Clean only the outer part of her ears. Do not stick the cotton bud into her ears].
• Lotion / oil
[Can hold back this purchase. Not really necessary.].
• Nail scissors
[Yes but not a necessity. If you are careful, an adult nail clipper can do the job].
• Nose cleaner
[Yes. I got both types (see picture below) and found the one with tube much easier and more effective to use.].
• Safety pin
[Not really necessary unless you intend to use cloth diaper].
• Brush & comb set
[Depends but not urgent. Some babies do not have much hair at birth anyway].
Other items that you may want to consider is "Ru Yi" oil. This is to be applied on baby's stomach to prevent "wind". It is useful especially in the first few months. Can consider getting a medium to large bottle.
• Baby Shampoo
• Baby bath
[I bought those 2-in-1 baby bath and shampoo type. I know of parents who prefer organic shampoo/bath. Depends on you. And whatever you prefer, do get shampoo/bath ready before baby arrives.]
• Bath towel
[Yes, do get this ready before baby arrives. Get 2 pieces so that you can alternate. Try to avoid towels thatare too big/thick as it takes longer to dry and harder to manage.]
• Face towel
[Yes, do get 1 face towel].
• Baby blanket
[Yes. You might want to use a receiving blanket when you bring baby home upon discharge from hospita].
• Bath mat
[No. I dun think this is necessary].
• Baby powder
[Yes. Recent trend has been going towards liquid talc powder which you may want to consider.]
• Baby power puff case
[Depends on what types of powder you use. ]
• Bath sponge
[I didn't use this as I set aside a small face towel solely for her shower use.]
• Bath tub
[Yes. You dun need a fanciful one, like odd shape, anti-slip base, etc. A simple one will be good enough].
• Cloth detergent
[Yes].
• Cotton swabs/buds
[Yes. Just get a packet. Clean only the outer part of her ears. Do not stick the cotton bud into her ears].
• Lotion / oil
[Can hold back this purchase. Not really necessary.].
• Nail scissors
[Yes but not a necessity. If you are careful, an adult nail clipper can do the job].
• Nose cleaner
[Yes. I got both types (see picture below) and found the one with tube much easier and more effective to use.].
• Safety pin
[Not really necessary unless you intend to use cloth diaper].
• Brush & comb set
[Depends but not urgent. Some babies do not have much hair at birth anyway].
Other items that you may want to consider is "Ru Yi" oil. This is to be applied on baby's stomach to prevent "wind". It is useful especially in the first few months. Can consider getting a medium to large bottle.
PREPARING FOR BABY – THINGS TO BUY -BREASTFEEDING [PART 3]
BREASTFEEDING
• Breast pump
[Yes, you will need this if you are a working mum. There are two main types, manual and electric pump. I am using both Avent manual pump and electric Medela pump.
Started off with Avent manual pump and it worked well until I got lazy washing it each time after expressing. (I was expressing 4-5 times a day). So I got the electric ones so that I can space out the washing which, to me, was really tedious.
I personally prefer the electric pump as it was easier to wash, and it drains my milk better. However, do note that if you intend to bring the electric one out, the nursing room will need to be equipped with powerpoint. Further, electric pump is pricier than manual ones.
Do also consider getting a "fridge-to-go" bag with ice pack for you to transport your milk from office to home if you intend to continue breastfeeding after going back to workforce..]
• Feeding pillow
[Not a necessity unless you have the money to splurge.]
• Nipple cream
[Can consider getting one but get a small tube will do.]
• Prenatal heart listener
[Dun waste money on this]
• 3-6 breastmilk storage bags
[Storage bags are used to freeze extra milk for future consumption. Depending on whether you have excess milk to freeze. You won't know until you are in confinement. As such, I would suggest you hold back on this purchase first. If you really have a lot of extra milk, then you can consider buying storage bags. Note that for normal fridge, frozen milk can last no more than 6 months. ]
• Stretch mark cream
[Yes. You should start using stretch mark cream when you are preggie. After delivery, consider getting post-natal stretch mark cream if your budget permits.]
• Washable nursing pad
[Yes. I found this useful. In the first few months, milk may start to "leak" after a few hours. Using a nursing pad helps to avoid a situation where you soil your bra. Also, when you nurse ur baby/express your milk, the other side might start to leak. Get about 8 washable nursing pads.
Forget about disposable ones and washable pads are more value-for-money over time. But remember to handwash them. No machine spin. ]
• Milk collection shell / Nipple shells
[I personally didn't use this, so I can't comment.]
• Breast pump
[Yes, you will need this if you are a working mum. There are two main types, manual and electric pump. I am using both Avent manual pump and electric Medela pump.
Started off with Avent manual pump and it worked well until I got lazy washing it each time after expressing. (I was expressing 4-5 times a day). So I got the electric ones so that I can space out the washing which, to me, was really tedious.
I personally prefer the electric pump as it was easier to wash, and it drains my milk better. However, do note that if you intend to bring the electric one out, the nursing room will need to be equipped with powerpoint. Further, electric pump is pricier than manual ones.
Do also consider getting a "fridge-to-go" bag with ice pack for you to transport your milk from office to home if you intend to continue breastfeeding after going back to workforce..]
• Feeding pillow
[Not a necessity unless you have the money to splurge.]
• Nipple cream
[Can consider getting one but get a small tube will do.]
• Prenatal heart listener
[Dun waste money on this]
• 3-6 breastmilk storage bags
[Storage bags are used to freeze extra milk for future consumption. Depending on whether you have excess milk to freeze. You won't know until you are in confinement. As such, I would suggest you hold back on this purchase first. If you really have a lot of extra milk, then you can consider buying storage bags. Note that for normal fridge, frozen milk can last no more than 6 months. ]
• Stretch mark cream
[Yes. You should start using stretch mark cream when you are preggie. After delivery, consider getting post-natal stretch mark cream if your budget permits.]
• Washable nursing pad
[Yes. I found this useful. In the first few months, milk may start to "leak" after a few hours. Using a nursing pad helps to avoid a situation where you soil your bra. Also, when you nurse ur baby/express your milk, the other side might start to leak. Get about 8 washable nursing pads.
Forget about disposable ones and washable pads are more value-for-money over time. But remember to handwash them. No machine spin. ]
• Milk collection shell / Nipple shells
[I personally didn't use this, so I can't comment.]
PREPARING FOR BABY – THINGS TO BUY - EVERYDAY STUFF [PART 2]
EVERYDAY
• Steam steriliser
[There are 3 ways to sterilise baby bottles. (i) Using traditional way of boiling water, (ii) using steam steriliser (iii) using sterilising tablets. I personally uses steam steriliser and found it to be very useful. A reasonable one should cost between S$50 to S$100.
The metal plate for heating do get "rusty" after a while, so do remember to clean the steriliser regularly, either using lemon or vinegar. I personally do it once a month to keep the metal plate squeaky clean. You should be able to find info on how to go about cleaning the steriliser in the user guide]
I bought a 3-in-1 steriliser from Pigeon (see picture above). On hindsight, I would have bought the bottle steriliser only, if it is cheaper coz I realised that I have not actually used the food / bottle warmer at all. It's such a waste of money to pay for features that I do not use.
• Steriliser tablets
[I feel that this is not necesssary unless you are travelling overseas.]
• Liquid cleanser
[Yes. This is important. Do get a large pump bottle, and refill it regularly using refillable packets.]
• Bottle tongs
[I bought tongs but ended up not using it. I usually wash my hands clean before touching the sterilised bottles. So this is up to you]
• Brush for Washing Bottles
[Yes. This is important. Trying not to use brush with bristles as it may scratch the inside of bottles. Over time, bacteria may grow. Instead, go for sponge brush. No need to get it at baby dept as it tends to be a lot pricier. Check out some of the neighbourhood shops. They should have this.]
• Small Brush for Washing Teats
[Yes. This is important. Please remember to remove the teats from the bottle cap whenever you wash the bottles.]
• Feeding bottle
[Yes. Definitely you'll need this unless you intend to nurse your baby directly. Do get a few bottles. I would suggest at least 4-5 bottles.
Am personally using glass bottles as I have read about plastic ones which may be harmful for babies unless it is bisphenol-free. I intend to switch to plastic (bisphenol free ones when my baby can hold her own bottles). So do consider the pros and cons before deciding whether plastic or glass ones suits you better.]
• Teats
[Yes. Do get a few of these. I would suggest 4-5 if possible]
• 2 Small Tubs for Washing Bottles
[I also bought a small tub for washing bottles as I do not like the idea of placing bottles and teats in the sink. Each tub cost $2-$3. But I am just being KS, so this is entirely up to you. ]
• Fever cool plaster
[Can consider buying one box. (One box should contain 2-3 plasters). I'll use this when baby comes home from vaccination and fever is starting to run. You will want to consider putting the fever cool plaster in the fridge before using]
• Food warmer
[Not necessary.]
• Milk bottle dryer
[Not necessary. Dun waste money on this]
• Milk bottle container
[Yes, if you intend to feed baby powder milk. This is useful when you bring baby out]
• Baby napkin
[Not necessary unless you intend to use cloth diapers.]
• Nappy liners
[Not necessary unless you intend to use cloth diapers]
• Nappy rash cream
[Yes. You will need this.]
• Pacifier
[Not necessary unless your baby has the habit of using pacifier]
• Cotton wool / balls
[Yes. I uses cotton ball to clean my baby's butt when she poo-poo. Prepare a small container for holding water. ]
• Baby wipes
[Yes. This is necessary. Do also get some in travel size, so that you can use it when you bring baby out.]
• Diaper
[Yes. Hospital will usually give you the remaining diapers when you are discharged. It also depends on the size of your baby. I would recommend you get 1 packet of Pampers diapers for Newborn and another packet of Small size diapers. Some babies outgrow Newborn size diapers quite quickly. I personally like Petpet brand as it is cheap and good]
• Thermometer
[Yes. This is important when your baby starts vaccination. Some jabs cause fever. As such, you will need to monitor your baby's temperature closely.
I started off using Pigeon thermometer coz it was cheap. (<$10). But as it takes 2-3 minutes to take my baby's temperature, I gave up after a while coz my baby hardly sits still. I ended up purchasing a Braun thermometer. Takes only 2 seconds via her ear. Cost me more than S$100 but so far, no regret.]
Last but not least, for some woman, their milk supply do not come until the third or fourth day. While waiting for the supply to come, it was really stressful when baby cries for milk and there's none. As such, even if you decide to breastfeed, do consider purchasing a small can of milk powder for contingency, in case your supply comes in only on the 4th day onwards. An unopened can could last a while but once opened, it should be consumed within 30 days.
• Steam steriliser
[There are 3 ways to sterilise baby bottles. (i) Using traditional way of boiling water, (ii) using steam steriliser (iii) using sterilising tablets. I personally uses steam steriliser and found it to be very useful. A reasonable one should cost between S$50 to S$100.
The metal plate for heating do get "rusty" after a while, so do remember to clean the steriliser regularly, either using lemon or vinegar. I personally do it once a month to keep the metal plate squeaky clean. You should be able to find info on how to go about cleaning the steriliser in the user guide]
I bought a 3-in-1 steriliser from Pigeon (see picture above). On hindsight, I would have bought the bottle steriliser only, if it is cheaper coz I realised that I have not actually used the food / bottle warmer at all. It's such a waste of money to pay for features that I do not use.
• Steriliser tablets
[I feel that this is not necesssary unless you are travelling overseas.]
• Liquid cleanser
[Yes. This is important. Do get a large pump bottle, and refill it regularly using refillable packets.]
• Bottle tongs
[I bought tongs but ended up not using it. I usually wash my hands clean before touching the sterilised bottles. So this is up to you]
• Brush for Washing Bottles
[Yes. This is important. Trying not to use brush with bristles as it may scratch the inside of bottles. Over time, bacteria may grow. Instead, go for sponge brush. No need to get it at baby dept as it tends to be a lot pricier. Check out some of the neighbourhood shops. They should have this.]
• Small Brush for Washing Teats
[Yes. This is important. Please remember to remove the teats from the bottle cap whenever you wash the bottles.]
• Feeding bottle
[Yes. Definitely you'll need this unless you intend to nurse your baby directly. Do get a few bottles. I would suggest at least 4-5 bottles.
Am personally using glass bottles as I have read about plastic ones which may be harmful for babies unless it is bisphenol-free. I intend to switch to plastic (bisphenol free ones when my baby can hold her own bottles). So do consider the pros and cons before deciding whether plastic or glass ones suits you better.]
• Teats
[Yes. Do get a few of these. I would suggest 4-5 if possible]
• 2 Small Tubs for Washing Bottles
[I also bought a small tub for washing bottles as I do not like the idea of placing bottles and teats in the sink. Each tub cost $2-$3. But I am just being KS, so this is entirely up to you. ]
• Fever cool plaster
[Can consider buying one box. (One box should contain 2-3 plasters). I'll use this when baby comes home from vaccination and fever is starting to run. You will want to consider putting the fever cool plaster in the fridge before using]
• Food warmer
[Not necessary.]
• Milk bottle dryer
[Not necessary. Dun waste money on this]
• Milk bottle container
[Yes, if you intend to feed baby powder milk. This is useful when you bring baby out]
• Baby napkin
[Not necessary unless you intend to use cloth diapers.]
• Nappy liners
[Not necessary unless you intend to use cloth diapers]
• Nappy rash cream
[Yes. You will need this.]
• Pacifier
[Not necessary unless your baby has the habit of using pacifier]
• Cotton wool / balls
[Yes. I uses cotton ball to clean my baby's butt when she poo-poo. Prepare a small container for holding water. ]
• Baby wipes
[Yes. This is necessary. Do also get some in travel size, so that you can use it when you bring baby out.]
• Diaper
[Yes. Hospital will usually give you the remaining diapers when you are discharged. It also depends on the size of your baby. I would recommend you get 1 packet of Pampers diapers for Newborn and another packet of Small size diapers. Some babies outgrow Newborn size diapers quite quickly. I personally like Petpet brand as it is cheap and good]
• Thermometer
[Yes. This is important when your baby starts vaccination. Some jabs cause fever. As such, you will need to monitor your baby's temperature closely.
I started off using Pigeon thermometer coz it was cheap. (<$10). But as it takes 2-3 minutes to take my baby's temperature, I gave up after a while coz my baby hardly sits still. I ended up purchasing a Braun thermometer. Takes only 2 seconds via her ear. Cost me more than S$100 but so far, no regret.]
Last but not least, for some woman, their milk supply do not come until the third or fourth day. While waiting for the supply to come, it was really stressful when baby cries for milk and there's none. As such, even if you decide to breastfeed, do consider purchasing a small can of milk powder for contingency, in case your supply comes in only on the 4th day onwards. An unopened can could last a while but once opened, it should be consumed within 30 days.
Tuesday, December 22, 2009
Tips to Keep Your Home Cool During Hot Weather
(From PUB News Letter)
REFRIGERATOR
Arrange items in your fridge for quick removal and return. Your fridge cools the food but heats the kitchen. The longer the door is left open, the harder it has to work, causing your kitchen to over-heat and raising your air conditioning cost.
FAN
Use fans to circulate air since they are cheaper and also consume less energy than air conditioners. If you need to use the air conditioner, remember to keep the doors and windows closed to maximize the cooling. Make sure you clean the filter regularly to improve air flow.
LIGHT
Keeping unnecessary lights on in your home can raise the temperature of your indoor air. Take advantage of daylight as much as possible.
WINDOW
Close your curtains, drapes and shades during the day to keep heat from the sun out of your house. In the evening, opening drapes and shades lets heat escape through the windows.
TURNING OFF THE HOT STUFF
Switch off your heat-generating appliances such as ovens and dryers unless you absolutely need them. When cooking, use pot lids to retain heat and decrease cooking time.
DRYING OF CLOTHES
Use bamboo poles or linens to dry clothes. Dryers release a substantial amount of heat during operation.
REFRIGERATOR
Arrange items in your fridge for quick removal and return. Your fridge cools the food but heats the kitchen. The longer the door is left open, the harder it has to work, causing your kitchen to over-heat and raising your air conditioning cost.
FAN
Use fans to circulate air since they are cheaper and also consume less energy than air conditioners. If you need to use the air conditioner, remember to keep the doors and windows closed to maximize the cooling. Make sure you clean the filter regularly to improve air flow.
LIGHT
Keeping unnecessary lights on in your home can raise the temperature of your indoor air. Take advantage of daylight as much as possible.
WINDOW
Close your curtains, drapes and shades during the day to keep heat from the sun out of your house. In the evening, opening drapes and shades lets heat escape through the windows.
TURNING OFF THE HOT STUFF
Switch off your heat-generating appliances such as ovens and dryers unless you absolutely need them. When cooking, use pot lids to retain heat and decrease cooking time.
DRYING OF CLOTHES
Use bamboo poles or linens to dry clothes. Dryers release a substantial amount of heat during operation.
Wednesday, December 16, 2009
My Expenses for 2009
MY PERSONAL EXPENSES FOR 2009
Food - $200
Transport - $65
Insurance - $465
Mom - $400
Hand phone bill - $25
Income Tax - $210
Miscellaneous (clothes, makeup, skincare, etc) - $120
Total personal expenses - $1,485 (round up to about $1,500)
MY FAMILY EXPENSES
Groceries - $200
Toiletries - $40
Utilities - $160
Conservancy - $65
Cable - $65
Newspaper - $25
Part-time Cleaner - $160
Baby Diapers - $60
Baby Miscellaneous - $50
Baby Health Insurance (Rider) - $20
Babysitting Expenses – $500
Zero Dollar Credit card loans - $135 (ending in Nov 2010)
Total family expenses - $1,480 (round up to about $1,500)
This amount is shared with my hubby, so each person’s share is $750.
TOTAL MONTHLY EXPENSES is $1,500 + $750 = $2,250.
Food - $200
Transport - $65
Insurance - $465
Mom - $400
Hand phone bill - $25
Income Tax - $210
Miscellaneous (clothes, makeup, skincare, etc) - $120
Total personal expenses - $1,485 (round up to about $1,500)
MY FAMILY EXPENSES
Groceries - $200
Toiletries - $40
Utilities - $160
Conservancy - $65
Cable - $65
Newspaper - $25
Part-time Cleaner - $160
Baby Diapers - $60
Baby Miscellaneous - $50
Baby Health Insurance (Rider) - $20
Babysitting Expenses – $500
Zero Dollar Credit card loans - $135 (ending in Nov 2010)
Total family expenses - $1,480 (round up to about $1,500)
This amount is shared with my hubby, so each person’s share is $750.
TOTAL MONTHLY EXPENSES is $1,500 + $750 = $2,250.
Tuesday, December 1, 2009
Ways to Save Water
1. If you must have the occasional soak, use the minimum amount of water needed for the bath. Better yet, opt for a shower instead.
2. When adjusting the temperatures, test water temperature with the smallest possible water flow. Do not allow water to flow freely while adjusting the temperature.
3. Do not run the kitchen tap continuously while washing dishes. Fill up the sink with water and use one sink for washing and the other for rinsing.
4. Soak your pots and pans instead of letting the water run while you scrape them clean.
5. Do not clean and peel fruit and vegetables under a running tap. Put the plug in and fill up the sink with water.
6. Do not use the toilet as a waste-basket or ashtray - it wastes water every time you flush it.
2. When adjusting the temperatures, test water temperature with the smallest possible water flow. Do not allow water to flow freely while adjusting the temperature.
3. Do not run the kitchen tap continuously while washing dishes. Fill up the sink with water and use one sink for washing and the other for rinsing.
4. Soak your pots and pans instead of letting the water run while you scrape them clean.
5. Do not clean and peel fruit and vegetables under a running tap. Put the plug in and fill up the sink with water.
6. Do not use the toilet as a waste-basket or ashtray - it wastes water every time you flush it.
Ways to Save Energy
Decided to post those energy-savings tips from PUB eChat for ease of my future reference. :)
1. When selecting a refrigerator, choose one with a capacity that you really need. Make comparisons by looking at the energy label stickers.
2. Help your refrigerator and freezer operate efficiently and economically by ensuring the doors are shut as much as possible so the cold air doesn't escape.
3. While cooking, use pots that fit the size of the burners on your stove. Use lids so you can cook at a lower temperature.
4. Foods and vegetables takes less times to cook if they are cut into smaller pieces.
5. Adopt new habits like allowing hot food to cool before putting them into the fridge.
6. Avoid overloading the fridge with too many items. Remove old items from the refrigerator regularly so you don't waste electricity keeping them cold all the time.
7. Remember to turn off electronic appliances when they are not in use. Switch off at the power socket to save standby power.
1. When selecting a refrigerator, choose one with a capacity that you really need. Make comparisons by looking at the energy label stickers.
2. Help your refrigerator and freezer operate efficiently and economically by ensuring the doors are shut as much as possible so the cold air doesn't escape.
3. While cooking, use pots that fit the size of the burners on your stove. Use lids so you can cook at a lower temperature.
4. Foods and vegetables takes less times to cook if they are cut into smaller pieces.
5. Adopt new habits like allowing hot food to cool before putting them into the fridge.
6. Avoid overloading the fridge with too many items. Remove old items from the refrigerator regularly so you don't waste electricity keeping them cold all the time.
7. Remember to turn off electronic appliances when they are not in use. Switch off at the power socket to save standby power.
Thursday, November 26, 2009
How To Save on Service Fees for Current Account?
Do you have a current account with any bank? If so, how much are you paying to the banks every year just to maintain this account?
I did a quick survey and noticed that it is quite common for banks to charge monthly fees and dictate minimum sum to maintain on these accounts.
******************************************************************
For example,
- UOB (i-Account) charges $2 flat per month. On top of that, it levies a $7.50 charge if your monthly average balance falls below S$3k, and charge $10 per cheque book (from the 3rd chequebook onwards).
- DBS (Current Account) charges S$7.50 per month if monthly average balance falls below S$3k.And $10 per chequebook (from the 2nd chequebook onwards)
- OCBC (Personal Current Account) charges you S$7.50 per month if monthly average balance falls below S$3k.
If you had accidentally issued out any cheque without ensuring sufficient funds in your account, bank also charges interests on the overdraft amount, and in some cases, service charge for incidental overdraft. There is also a returned cheque fee of about $40 for every bounced cheque, depending on which bank it is.
******************************************************************
Personally, I do have a checking account that I used pretty regularly, and I have never paid any fee for the account. I’ve always gotten FREE cheque-books and I’m not required to maintain $3k in minimum balance. No penalty for not doing that.
The trick is – I use an unsecured credit line account as my checking account.
In fact, when I first opened my unsecured credit lines with one of the local banks a few years back during a promotion drive, I was given S$30 credit for free.
The only criteria is that you have to earn at least S$20,000 per annum in order to qualify. And YOU MUST MAINTAIN CREDIT BALANCE IN THIS ACCOUNT ALL THE TIME. Never draw down on your overdraft. Otherwise, bank will charge you hefty interest for unsecured loans.
You’ll also have to note that most banks charges annual fee for unsecured credit lines (which can range from $50 to $200 per year). But so far, my experience has been one where banks are more than happy to waive off these annual fees upon customer’s request. (Anyway, if the bank is unwilling to waive, you should just close the account).
In my humble opinion, so long as you use this account prudently and sensibly, it is a good option to consider.
I did a quick survey and noticed that it is quite common for banks to charge monthly fees and dictate minimum sum to maintain on these accounts.
******************************************************************
For example,
- UOB (i-Account) charges $2 flat per month. On top of that, it levies a $7.50 charge if your monthly average balance falls below S$3k, and charge $10 per cheque book (from the 3rd chequebook onwards).
- DBS (Current Account) charges S$7.50 per month if monthly average balance falls below S$3k.And $10 per chequebook (from the 2nd chequebook onwards)
- OCBC (Personal Current Account) charges you S$7.50 per month if monthly average balance falls below S$3k.
If you had accidentally issued out any cheque without ensuring sufficient funds in your account, bank also charges interests on the overdraft amount, and in some cases, service charge for incidental overdraft. There is also a returned cheque fee of about $40 for every bounced cheque, depending on which bank it is.
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Personally, I do have a checking account that I used pretty regularly, and I have never paid any fee for the account. I’ve always gotten FREE cheque-books and I’m not required to maintain $3k in minimum balance. No penalty for not doing that.
The trick is – I use an unsecured credit line account as my checking account.
In fact, when I first opened my unsecured credit lines with one of the local banks a few years back during a promotion drive, I was given S$30 credit for free.
The only criteria is that you have to earn at least S$20,000 per annum in order to qualify. And YOU MUST MAINTAIN CREDIT BALANCE IN THIS ACCOUNT ALL THE TIME. Never draw down on your overdraft. Otherwise, bank will charge you hefty interest for unsecured loans.
You’ll also have to note that most banks charges annual fee for unsecured credit lines (which can range from $50 to $200 per year). But so far, my experience has been one where banks are more than happy to waive off these annual fees upon customer’s request. (Anyway, if the bank is unwilling to waive, you should just close the account).
In my humble opinion, so long as you use this account prudently and sensibly, it is a good option to consider.
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