$$$ KPO and CZM $$$: 2018

Wednesday, December 12, 2018

Singapore Airlines Suites Experience - The Private Room

About a year ago, KPO blogged about Redeeming Krisflyer Miles for Singapore Airlines Suites. A year later, we started on our very first (and hopefully not last) Suites experience. Our adventure began a week before our trip, where we had to Book the Cook for our meals onboard. Refer to below for the meals selected.

On the day of departure, we learnt that there was a First Class check-in area at Changi Airport T3. For those who have not been there before, you should see a huge sign directing passengers to the First Class drive up area when reaching Changi Airport (see image below). Follow the sign to turn left, and you will be greeted by the friendly porters who will come forward to greet you and help to bring your luggage to the check-in area.


We were invited to take a seat while the staff proceeded with our check-in. This is the first time we had our check-in done seated (yeah suaku)! The check-in area was posh and well furnished. The friendly staff helped to wrap our check-in items carefully when we mentioned to them that the items inside are fragile. 

Once the check-in was done, the staff quickly handed to us our "gold" boarding passes and the tickets to "The Private Room". Since we are not revealing our identities, we will be introducing Donald as KPO and Piglet as CZM :)

KPO and CZM in the First Class check-in area

The Private Room is located in the innermost of the SilverKris Lounge. Once we reached the SilverKris Lounge, the staff took our golden tickets and asked if we would like it back. We nodded our head and he went on to lead the way as we passed by the Business Lounge and the First Class Lounge before reaching the Private Room. On the way, he mentioned that we could use any of these lounges as well.

KPO and CZM in The Private Room

KPO and CZM being served Evian water

The Private Room is essentially just another lounge which was a lot quieter and had fewer people. When we walked past the Business Lounge, it was extremely crowded! Another difference between the Private Room and the other lounges is the level of service. The food inside the Private Room is plated (fine dining), while the other lounges are self-serve. The staff handed us the food menu as we entered. The variety of food and drinks on the menu was CRAZY a lot (see menu below). 

Dining Area in The Private Room

KPO and CZM looking at the menu and drinking Dom Perignon







We had a hard time choosing what to eat and ended up ordering most of the main courses (they are all free and KPO kept emphasizing that it was once a lifetime experience). Not sure if that was a mistake, because that made us really full even before we boarded the plane.

Food ordered:
Starters
- Oriental Soup

Mains
- Dim Sum Delights
- Baked Lobster with 3 Cheeses (*KPO highly recommends this!*)
- US Beef Prime Burger
- Assorted Satay
- Beef Brisket Noodle
- Baked Chilean Sea Bass Papillote (no photo as it didn't look good on camera)

Dessert
Some vanilla ice-cream + Chocolate cake which the staff gave us though we didn't order. 

Drinks:
- Dom Perignon

Warning: food pictures below may make you really hungry.

Oriental Soup

Dim Sum Delights

Baked Lobster with 3 Cheeses

US Beef Prime Burger

Assorted Satay

Beef Brisket Noodle

Random dessert

After our hearty dinner, we checked out the bathroom. It was sparkling clean and well-equipped with amenities. Shampoo, soap, body lotion, perfume, shaver (male toilet), hairdryer, toothbrush, mouthwash, and even the bath towels are provided! Basically, you don't need to bring anything to the washroom except for a clean pair of clothes.


After we were done bathing, we decided to explore other areas within the Private Room. There are two private call rooms, one Family Room and one computer area for surfing. 

Family Room

Computer area (Mac computer only)

By the time we finished exploring the area, it was about time to board the plane. We left the Private Room and went to the other lounges to explore (took Haagen-Dazs ice cream from the First Class Lounge) before making our way to the boarding gate. Shall review the flight experience in the next post!

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)

Monday, December 10, 2018

A Honest and Brutal Wedding Vendors Review

KPO has been nagging all the time that I have not contributed to any blog post since the establishment of this blog. So in order to stop his nagging (and he promised to do 60 sit-ups after I write at least one post), here I am!

It has been two months since we got married (how time flies), and we have received our wedding actual day ("AD") photos, so I guess it about time to write a review of all our vendors. Details on the prices can be found on here - Our Wedding Expenses is Within Our Budget!

The following is our humble opinion (out of 5 stars):

1) Furama Riverfront Hotel (our AD venue) - 4.5 stars
We started looking for hotels in 2017 (1 year before our AD) and were initially looking for somewhere small (can hold about 12 tables max) as we wanted a small cosy place just to hold our relatives and closest friends. Given the requirement, we can only fit the requirement of 'solemnization' for most hotels (as the minimum banquet tables are typically around 20 tables). When we first approached Angela from Furama, we were delighted to hear that the venue allowed a minimum of 12 tables, and the price of a lunch banquet was not much different from the 'solemnization' package. The perks were attractive and we can 'lock in' the 2017 price though our banquet is in 2018.

Some of the perks are:
1) Free flow beer, red wine and white wine (in our opinion, please don't waste time on hotels which do not even give free corkage)
2) 2 nights stay at the bridal suite with free buffet breakfast
3) 1 night deluxe room for 'helpers' with free buffet breakfast
4) 2 nights at Furama Villa & Spa at Ubud, Bali (flight not included)
5) 1 night anniversary stay at Furama Riverfront
6) Complimentary food tasting for 10 pax
7) Free use of a function room for solemnization, teapot for Jing Cha
8) Other basic typical stuff like dry ice for march-in, fresh flowers etc.

For the price we paid (just slightly over $100 inclusive of GST and service charge), it is quite attractive and we do not have to worry about the alcohol.

In terms of payment, it works like most hotels where it allows partial/periodic payments until AD. To our pleasant surprise, Furama introduced an online payment system mid-way and we could use the DBS Woman's card for the banquet, allowing us to earn 4 mpd (cap at $2k a month). As a result, we managed to clock quite a lot of miles from the banquet itself.

Overall, we love the perks given (especially item 1 and 7). We heard that some hotels do not have item 7 for free, but they can only select it as part of 1 of the "wishlist". We shall not name the hotels, but that's why we love Furama as it is more "easygoing" in that aspect. The wedding coordinator Angela is very responsive on both emails and Whatsapp too. The banquet manager, Hayden, is also very professional and gave us very detailed instructions, which calmed us down greatly.

The only downside for this vendor is that they changed the wedding theme and choices of wedding favour less than 1 month before our AD. CZM does not like last minute changes, and can you imagine her horror when she has to re-select everything at the last minute?? I would have given 5 stars if not because of this.

Damage: $17,878.63
URL: Furama Riverfront Wedding

2) Bridal package from Rico-a-Mona - 5 stars
We had a pleasant experience with Rico. I was first drawn to Rico because of the huge selection of gowns, and they are so pretty (so is their models). Our coordinator is Sinny, and she is very professional. She allowed us to try on many gowns before we signed any package and did not pressure us to get a package immediately. In fact, she encouraged us to go to other bridal shops first to take a look.

For our pre-wedding shoot (PWS), we engaged their in-house photographer Charlie and make-up artist (MUA) Miki. I will review Miki below as she was my AD MUA as well. Charlie was a superb photographer who had a sense of humour and this made our photoshoot less awkward/more natural when we smiled.

I think Rico is generally more expensive than other bridal shops, but there is no hidden pricing (unlike some bridal shops which charge extra for 'premium' gowns) and I love the gown selection. All other extra charges are made known to us upfront before we signed the package. Overall, I think it is worth the money and I have no regrets.

Damage: $4,224.36
URL: Rico-A-Mona

3) Make-up artist Miki - 4 stars
I researched on Rico's MUA and both Miki and Milly are the "hot favourites" and I chose Miki eventually based on her pictures on Instagram. Miki is especially good with eyes and I love how natural her make up is.

However, I was rather worried when she turned up >30 minutes late for our PWS. Though I don't think she compromised on the quality of makeup, we had to rush through our PWS and had to make some last minute changes to the outdoor venues.

We continued to use her as my AD MUA as I really like her make up, hence, kept my fingers crossed that she will be punctual. We agreed on the time months in advance and I reminded her on the schedule a few days before. I was made known that she will have a bride before me, but the timing should be okay. However, she was also late on AD and the whole AD got pushed back 30 mins as a result. Luckily we had some buffer here and there and made it in time for our wedding lunch. I later learnt that she had 3 brides on the same morning (*gasps*) and she had to rush to the third venue after my make up was done. Oh well, don't really think she should accept so many jobs on the same day as some people's AD may be really tight..

Instagram: Miki

4) Jerome Goh Photography - 4.5 stars
We chose Jerome because I really like his photography and he is super responsive as well (typically replies within the same day). We took up the "premium" package which has two photographers as the photos of the second photographer were also really good. Both photographers were also punctual on AD and we were given the photos way in advance of the agreed timeline (the photos are expected to be ready only in about 12 weeks, but we have gotten it around after 8 weeks of our AD).

The only downside is that the photos taken by the second photographer seem to fall short slightly of our expectation. But generally, we are still pleased with our photos.

Damage: $2,000
URL: Jerome Goh Photography

5) Sparkle Live Music - 1.5 stars
We have engaged a live band through Sparkle Live Music, and have selected Peixin as our singer + emcee because I have heard her both live at my friend's wedding and on Youtube, and she is so good. I will have a separate review on her below. We noted that Peixin is kind of like a freelancer, and there are a few different live bands online which works with her. We chose Sparkle Live because my friend has engaged them before.

However, I was very disappointed with them. Firstly, there were double standards in the pricing as my friend, who wrote in to inquire, was quoted $200 less at almost the same period of time. We were coincidentally discussing about Sparkle Live before I noted the discrepancy. Immediately I called them on this and they mentioned that the brochure that was provided to me was not up-to-date and hence the difference. WHAT??? Fortunately, the new price was extended to us (and hence I am giving an additional 0.5 stars).

Throughout this engagement, the coordinator, Prinsten is always MIA. Not only was he unresponsive to emails, his work is bad. He was supposed to come up with the emcee script which he promised to turnaround in a few days, but it took him 2 full weeks to get back with a script full of errors. From one look, we can tell that it is simply a template copied elsewhere (which is fine because we expected so), but he did not even bother to change the bride and groom names. The additional details we provided him was not added to the script as well. Where is the duty of care??

We also provided him our preferred song list in early Sep, which he mentioned should not be a problem, but only informed us two weeks before AD that there were several songs which have to be amended. Luckily both of us weren't particular about songs, so we just let Peixin sing any song which she prefers.

Damage: $1,564
URL: Sparkle Live Music

6) Lou Peixin - Singer for live band - 6 stars
Yes, giving her 6 out of 5 stars. She is superb. Everyone whom I spoke to told me she is really good. Can check out her songs on Youtube too. We, however, recommend that you engage her through other live bands (see #5 review above).

URL: Lou Peixin
Youtube: Miss Lou

7) Infinity Hair Art - 2 stars
This is a hair salon package which we purchased on Fave because it was cheap. Conclusion - if something is too good to be true, it probably is. This place hard sells like crazy, and it seems like the case for a few years, according to this review. It is my bad for not doing sufficient due diligence. Was persuaded to sign up some package, end up it is nowhere cheaper than other salons.

Damage: $510
URL: Fave Deals (at your own risk)

That's all I have on the vendor reviews. Now thinking back what is the one thing I could have done differently for the wedding, I felt that the entire wedding was over in a twinkle of an eye, so don't bother spending too much time on less important stuff like second makeup/march in etc. I will perhaps spend more time going table to table to chat with my relatives, friends etc.

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)

Saturday, December 8, 2018

Expenses - October 2018

Hello everyone! It has been a while and we just got back from our honeymoon early this week. There are so many things to blog about our trip (SIA Suite class flight, rented a convertible and almost got into an accident, outlets shopping, etc.) so stay tuned for them! October expenses were crazily high (5 digits!!) which was expected due to the various payment to the vendors for our wedding.

Current Profile: 28 years old male who got married recently and is still living with his parents. Staying separately with his wife while waiting for the BTO project to be completed next year.


You can read more about how we manage our finances here. Removing our shared expenses which come out of our mutual fund (KPO Expense Fund), my expenses for October would be $11,452.38 - ($9,902.83 / 2) = $6,500.97.

Wedding
The detailed breakdown can be found in this article - Our Wedding Expenses is Within Our Budget!

Parents
I previously blogged about my promotion and increment - Salary - You Are Your Best Investment and it was only effective from February so I gave my parents more allowance as well.

Health
Technically, this is not an actual expense because this is part of my company benefits. One can claim up to $500 every 2 years for health screening. Although I did not pay a single cents, this kind of expenses cannot be avoided (yes, it may be lower) and I have witnessed the importance of it.

Gift
Attended a wedding dinner one week after ours with CZM at Mandarin Orchard Singapore. Fortunately, we were fine after the dinner (Mandarin Orchard food poisoning). Unfortunately, we are shareholders of OUE -.-"

Bought a bouquet of flower from The Enchanted Tree for my mum's birthday. I love it because it is hassle-free, order their daily pick, write a message for my mum, checkout with DBS Woman's World Card (4 miles per dollar) and it gets delivered to my house!

Vacation
Book some accommodations for our US trip and the transport cost was from booking the coach to Woodberry outlet from New York City. More details on this soon!

Food
My food expenses are exceptionally low because I stay with my parents! Most of it is incurred when I am out with CZM.

Insurance
This is a fixed monthly cost for the basic coverage - term life and hospitalization.

Transportation
I would always pay for CZM's cab ride home during night time since I am too lazy to send her home. That was one of our agreement. lol. EZ Link expenses were much higher this month which was probably due to the wedding preparation, hence we have been commuting a lot more apart from work.

Public transportation seems a lot lower because of 2 reasons:
1. I am no longer using EZ Link Auto-Reload. Account-Based Ticketing (ABT) is a much better choice as you pay what you use instead of triggering top up where the money is stored in the EZ Link card. The best part is miles can be earned too (using UOB PRVI Mastercard)!
2. $0.50 Discount for commuters who enter stations before 7.45am on weekdays.

Me
The $69.97 is the installment for Surface Pro which I got about 2 years back.

Treat
Treated family and colleagues to food/drinks.

Entertainment
Watched a movie with CZM and cannot remember what is the other spending.

Others
CZM bought some random stuff from Watson.

Hobby
CZM and I collect money (notes) from various countries including Singapore. We kept some brand new/running number notes from the red packets we receive on our wedding. Since we are not spending/depositing the money, it only makes sense to expense it.

Gambling
Bought ToTo, the fastest way to fulfill our millionaire dream.

Summary
January 2018 - $2,256.43
February 2018 - $1,759.01
March 2018 - $5,049.79
April 2018 - $1,572.54
May 2018 - $1,863.74
June 2018 - $2,282.07
July 2018 - $2,197.94
August 2018 - $2,130.01
September 2018 - $3,011.75
October 2018 - $6,500.97

Total expenses for 2018: $28,624.25
Average expenses per month for 2018: $2,862.43

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)

Monday, November 12, 2018

StashAway - October 2018

This is going to be our last post for this month before we fly to the United States for our honeymoon! I have just finished packing and have managed to squeeze out some time to blog.

1. ACCOUNT SUMMARY (as of the last day of the month)


Based on the statement (31 October 2018), we lost $86.84.


As of 12 November 2018, the total return has improved to $85.03. We lost -$222.95 from investment returns with a huge currency impact of  $307.98. Not good! In our last monthly update, I said that I would have preferred the USD to be weaker because we will be going to the US for our honeymoon. Weaker USD meant that we can convert the same SGD for more USD to invest too.

SGD time-weighted returns: 1.5%
USD time-weighted returns: -3.7%

StashAway has changed its web interface if you did not notice (same same but different?). The return in percentage went missing but I was able to find it in the mobile application.

2. PORTFOLIO DETAILS 


3. TRANSACTIONS

This month transactions are longer than usual because of the tax reimbursement which I blogged about previously - StashAway Withholding Tax Reimbursement FY 2017. The reimbursements are then reinvested similar to the dividends.


SGD $990.00 converted to USD $716.72 (USD $723.01 last month)
Exchange Rate:  1.3813 (1.3693 last month)

4. FEE CALCULATIONS


The fee stated is based on the monthly-average assets SGD $12,338.6 x 0.8% / 365 days * 31 days = $8.38

StashAway VS STI ETF
Since there is no way to compare the performances among the robo-advisors, I came out with a spreadsheet to track our StashAway portfolio performance (General Investing - Risk Level 28) against that of STI ETF which I will be updating on a monthly basis. For simplicity, I shall assume that one can either invest in Nikko STI ETF using POSB Invest-Saver or invest in Nikko STI ETF/SPDR STI ETF using SCB Priority Online Trading (no minimum commission). These would be the opportunity costs while we continue to invest in StashAway.

Apart from the absolute P&L, we should also look at the Reward-to-Risk Ratio where risk/volatility is taken into account. For more information, do read StashAway Clarifications - Reward-to-Risk Ratio. StashAway has the highest ratio of 1.25 which is significantly higher than the other 2 STI ETFs (< 0.4). Let me quote Freddy Lim (Co-Founder & Chief Investment Officer of StashAway), "for every dollar of risk taken, StashAway P28 is producing 1.25 times the return".


This month commentary: StashAway is the only investment making money ($3.85 or XIRR of 0.05%) and is considered to be outperforming the STI ETFs. Going forward it will be even more interesting when the commissions/fees incurred by StashAway exceed that of POSB Invest-Saver. This will be a battle between cheaper/lesser fees and asset allocation/diversification...

I believe there is a need to redo/regenerate the volatility used to compute the Reward-to-Risk Ratio. Do take it with a pinch of salt for now. I have been compiling some data in order to do so :) 

Which is the best? Only time will tell :)

This is the link to our spreadsheet - KPO & CZM StashAway Portfolio VS STI ETF which I have also added to Our Portfolio page.

StashAway Referral Link for Our Readers
Here you go: KPO and CZM Referral Link

You might be interested in previous months update too:
StashAway - January 2018
StashAway - February 2018
StashAway - March 2018
StashAway - April 2018
StashAway - May 2018
StashAway - June 2018
StashAway - July 2018
StashAway - August 2018 + An Unpleasant Experience
StashAway - September 2018

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right -->)

Monday, November 5, 2018

Portfolio - October 2018

The global markets have been in red for the past few weeks and our portfolio was not spared. At one point in time, our portfolio even went all time red/negative after investing since 2015. In such a scenario, it would have been better if we simply left the money in a bank account. At the very least, the capital will be intact and the interest collected over the years will definitely beat the below performance. lol.


We have a friend that lost his confidence and has stopped investing totally. Nothing right/wrong about it, just different risk profile/appetite.


The thing about investing is that it is not linear and there will be volatility. You cannot invest with the mentality that you will be making money all the way (at least not when you first started). However, given a long enough time (20 years?), the portfolio should be resilient enough such that it will become forever positive. I blogged about something similar here - Portfolio - March 2018.

The most important thing is not to let your investment affect your daily life - life goes on! So what have we been up to? We were busy planning for our USA honeymoon! Interested to read about fine dining in the air - Singapore Airlines Suites - Book the Cook. We also booked a Ford Mustang Convertible for our road trip :)


I have just purchased a new PS4 game - Dragon Quest XI | Echoes of an Elusive Age. I stopped playing Monster Hunter nearer to our wedding and now that I am back, no one plays it anymore. lol. Dragon Quest is like one of my childhood game too. Regardless, you get the point, we are not affected by the market volatility. Alright, back to our portfolio update :)

Our portfolio decrease by 1.73% to $348,378 - $16,293.36 of capital injection and $23,086.14 of capital loss. The one in blue is the StashAway portfolio, green is SGX and the total is in black.


If you prefer to look at numbers, this is the raw data used to generate the above bar graph. These numbers are as of the last day of the month.


SOLD
None

BOUGHT
- Lion-Philip S-REIT ETF (1,000 units) @ $0.967
- Accordia Golf Trust (5,000 units) @ $0.525
- OUE (1,000 units) @ $1.470
- ThaiBev (1,000 units) @ $0.635
- DBS (400 units) @ $24.38

We bought 1,000 units of Lion-Philip S-REIT ETF as part of our new strategy - New Singapore Budget, New REIT Strategy!

We sold OUE Commercial REITs last month and merely redeploy the amount back to the market by averaging down what we already owned. Hence, the relatively small/random amount in OUE and ThaiBev.

We decided to enter DBS because it has changed its dividend policy and has pledged $1.20 per annual going forward. At our entry price, that will mean our dividend yield on cost would be around 4.9%. Something we are pretty comfortable with for a blue chip with a very solid dividend record - increasing almost year on year. In addition, a rising rate environment is beneficial to the banks. We were contemplating between STI ETF and DBS and thought that DBS seems to be more attractive now.

Dividends
The total dividends collected this month is $1,034.20. The breakdown is as follows:

Company Symbol ExDate Shares Total
Parkway Life Real Estate Investment Trust C2PU 31-Oct-18 2,000 $64.60
First Real Estate Investment Trust AW9U 30-Oct-18 4,109 $152.85
GuocoLand Ltd F17 30-Oct-18 3,000 $630.00
Soilbuild Business Space REIT SV3U 23-Oct-18 15,000 $186.75

Total dividends collected for 2018: $12,031.58
Average dividends per month for 2018: $1,203.15

Woots! We have finally achieved one of our goals - $1000 per month of passive income!

StashAway


Capital: $13,000
Current: $13,003.61 (IRR: 0.1%)
Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right -->)

Singapore Airlines Suites - Book the Cook

Time flies! About a year ago, I blogged about Redeeming KrisFlyer Miles for Singapore Airlines Suites = 38.6% Cashback! and in a few weeks time, we will be going on our honeymoon!

Singapore Airlines allows one to "Book the Cook" (BTC) if you are flying Premium Economy and above. That essentially just means that you can choose your main course way in advance (at least 24 hours before the flight) instead of what is being served in the in-flight menu. The menu/selections do differ based on the class of the flight you are taking and where the flight is departing from. In addition, the food will be plated when served for Business class and above, with some of them being designed* by the Singapore Airlines International Culinary Panel. If it doesn't taste good, blame the person preparing the food - SATS? lol.


Our flight to the United States is fortunately/unfortunately not the non-stop flight depending on how you look at it (the non-stop flight does not offer any Suites/First class seats). We will be flying to Frankfurt with a 2-hour overlay before flying to New York, JFK. The BTC menu is different when flying out of Singapore vs flying out of Frankfurt

Over the weekend, CZM and I were having a hard time selecting the food! We have 8 meals in total to select - 4 meals each, 2 per flight:
SIN-FRA: Supper
SIN-FRA: Breakfast
FRA-JFK: Brunch
FRA-JFK: Lunch

Let's take a look at the in-flight menu first!

SIN-FRA: Supper


SIN-FRA: Breakfast


FRA-JFK: Brunch


FRA-JFK: Lunch


To be fair, the in-flight menu looks pretty decent too. With the help of Milelion Book the Cook Wiki (definitely much better than SIA own BTC page. lol) and some random post on FlyerTalk, we have decided on the following:

KPO


Grilled Beef Fillet with Balsamic Onion Sauce - Designed by Singapore Airlines International Culinary Panel Chef Alfred Portale who was named Best Chef in New York in 1993. Seems like the best/most fitting dish for our honeymoon to New York.

The Kyo-Kaiseki is for the adventurous because the ingredients and garnishes changes with each season and is designed by Singapore Airlines International Culinary Panel Chef Yoshihiro Murata whose restaurants have been awarded seven Michelin star - more than any other in Japan. Unfortunately, CZM is allergic to seafood hence got to give this a miss.

The Boston Lobster Thermidor seems to be one of the popular/value for money choice. Would you prefer having udon soup, curry chicken or fresh eggs instead?

Artichoke-Tomato Crusted Loin of Lamb - I am not really a fan of lamb but chose this so that we can have more variety.

CZM


Inflight Menu - Roasted Bacon-Wrapped Beef Fillet in Red Wine Jus with Bone Marrow. Same same but different as mine so that we can compare which is better.

Sliced Grouper Congee - CZM loves congee for unknown reason. Hahaha.

Suckling Pig with Beer Sauce is one of the popular choices for flights out of Frankfurt.

Inflight Menu - Marinated Pot Roasted Veal Cheek with Dried Fruit Sauce. One of our favorite food is the pork cheek shio ramen from Santouka. When CZM saw veal cheek, it was an obvious choice for her.

Besides, BTC, there are other facilities/benefits such as The Private Room and in-flight WiFi (100 MB per flight - kinda lame but good enough for communicating with families and friends over WhatsApp).

Stay tuned to more Singapore Airlines Suites updates!

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)

Tuesday, October 23, 2018

Expenses - September 2018

Our expenses are probably going to get higher and higher over the next few months due to our wedding (made lots of final payment on October) + our honeymoon trip to the United States. You can read about our wedding expenses here - Our Wedding Expenses is Within Our Budget! In addition, we are already thinking of buying these things in the US (KPO - GoPro HERO 7 Black and CZM - Dyson Airwrap) besides whatever "cheap" branded things we can find in the outlet malls >.<"

Current Profile: 28 years old male planning to get married this year and is still living with his parents


You can read more about how we manage our finances here. Removing our shared expenses which come out of our mutual fund (KPO Expense Fund), my expenses for September would be $4,430.51 - ($2,837.53 / 2) = $3,011.75.

Wedding
Banquet - We started making monthly installment payments to the hotel in order to avoid the lump sum pain.

GDL - I blogged about this previously. We were wondering how much Pin Jin/Dowry CZM's parents will take, turns out it was really within CZM's expectation. lol. Besides the red packets, other expenses came from 2 bottles of red wine, oranges, etc.

Grooming - I bought a box of contact lens ($56) while CZM bought a pair of earrings ($30).

Others - We bought lots of random stuff that all adds up eventually.

Photography - These were the shipping costs incurred from using Photobook. It was supposed to be cheap until we realized that you cannot ship them in 1 order. Having said that, it is still slightly cheaper than the others.

Vacation
Book some accommodations for our US trip and the transport cost was incurred from a cab ride back home from the airport after our New Zealand trip.

Parents
I previously blogged about my promotion and increment - Salary - You Are Your Best Investment and it was only effective from February so I gave my parents more allowance as well.

Gift
This is the price I have to pay for putting our wedding day on CZM's birthday. I customized and ordered a 3 tier birthday cake on our wedding day <3

Insurance
This is a fixed monthly cost for the basic coverage - term life and hospitalization.

Food
My food expenses are exceptionally low because I stay with my parents! Most of it is incurred when I am out with CZM.

Treat
Treated family and colleagues to food/drinks.

Transportation
I would always pay for CZM's cab ride home during night time since I am too lazy to send her home. That was one of our agreement. lol. EZ Link expenses were much higher this month which was probably due to the wedding preparation, hence we have been commuting a lot more apart from work.

Public transportation seems a lot lower because of 2 reasons:
1. I am no longer using EZ Link Auto-Reload. Account-Based Ticketing (ABT) is a much better choice as you pay what you use instead of triggering top up where the money is stored in the EZ Link card. The best part is miles can be earned too (using UOB PRVI Mastercard)!
2. $0.50 Discount for commuters who enter stations before 7.45am on weekdays.

Me
The $69.97 is the installment for Surface Pro which I got about 2 years back.

Gambling
Bought ToTo, the fastest way to fulfill our millionaire dream

Others 
It was a 50 cents donation when I met a friend doing flag day fundraising for animals - CAS Animals' Day Out 2018. To be honest, I had no idea which organization it was until I did some research while writing this article. Now that I know, shall share about it here - CAS (Causes For Animalsis an animal welfare charity set up to support the needs of local animal welfare in Singapore.

Summary
January 2018 - $2,256.43
February 2018 - $1,759.01
March 2018 - $5,049.79
April 2018 - $1,572.54
May 2018 - $1,863.74
June 2018 - $2,282.07
July 2018 - $2,197.94
August 2018 - $2,130.01
September 2018 - $3,011.75

Total expenses for 2018: $22,123.28
Average expenses per month for 2018: $2,458.14

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)

Saturday, October 20, 2018

Juggar - P2P Lending and Share Financing Platform

Disclaimer: This is our first sponsored article :)

Edmond Tan, one of the Co-Founder at Juggar reached out to us when Juggar did a soft launch a few weeks ago. After a few emails to and fro, I thought that this was pretty interesting and agreed to write an article on it.

What is Juggar?


Juggar is a P2P lending platform for share financing platform. If you are familiar with the other P2P lending platforms available in Singapore, names such as MoolahSense and Funding Societies would come to mind where you will be the "debtor", lending your money to various companies. However, with Juggar, you can actually become the "borrower" and use the money to invest in SGX shares using margin/leverage. In another word, Juggar is a combination of P2P lending + CFD trading.

As a borrower, there is the possibility of paying interest as low as 2% with 30% collateral. I thought this is pretty attractive because as a SCB Priority customer, we were given a fixed rate of 1.6% + 1-month SIBOR (in total, the interest rate we got would be ~3.1%) after pledging 70% collaterals - Leverage - A Double-Edged Sword. In addition, Juggar will provide the loan at a rate of 2.5% (claimed to be the lowest in the market by Juggar) while waiting for the loan to be funded by a lender.

Being a Lender


Being a lender is pretty straightforward, you go to the "Marketplace" and select a loan which you will like to lend to based on the various information such as loan amount, interest rate and maturity date. Do take note that the interest rate stated is on an annual basis and not on the loan tenure.

Being a Borrower


There are currently 40 stocks available for the borrower to buy.


As an example, if I would like to buy 1,000 units of DBS at $24.82. Under normal circumstances, I would need ~$25k cash to do that.


However, with Juggar, I would only need ~$7.5k including the trading commission. Do take note that the loan and fees are only paid at the end when the position is closed. Assuming if the price of DBS increase to $26.00 within the trade tenure, my profit would have been 13.33% [(26 - 24.82) * 1000 - 83.66 * 2] / (7529.66 + 123.38 + 8.57) as compared to 4.07% [(26 - 24.82) * 1000 - 83.66 * 2] / (24,903.66) without using any margin. The losses would also be magnified accordingly. That is why it is a double-edged sword. If you are not familiar with margin trading, I suggest that you read up more first.

Below are some of the questions I asked and Edmond's response:

KPO: When would you be expecting the MAS license to be granted? Technically, Juggar can't go live without one right?

Edmond: Our legal structure do not require us to apply for the MAS CMS license although we have to work with some limitations with our current legal structure. This structure is created in conjunction with our legal consultants and have been acknowledge by NUS Enterprise, SMU IIE and Spring Singapore.

KPO: Let's say if Juggar goes bankrupt/face liquidation, how would it work for both the lenders and borrowers?

Edmond: We maintain a separate account for cash and shares that is not commingled with Juggar's operations. Under the legal documents, it is also stated that we have to maintain a record for each lender and borrowers and their funds/shares is not an asset of Juggar and cannot be pledged for any other purposes.

KPO: At the start, I was told to select to be a borrower or lender. Does this mean after I selected the borrower, I will not be able to lend? In addition, I cannot find the option to change it.

Edmond: Yes, as part of our legal structure, user can only be either a borrower or lender. The change of role form a borrower to lender has to be done by us manually as we need to ensure there is no open positions.

KPO: Let's say if a borrower is unable to top up the difference and you guys had to force sell the shares before the loan period ends. Would the lender still be getting back the full amount? Will it be returned after the position is closed/force sell or would it be reloan to other borrowers until the initial loan period ends?

Edmond: If we force sell the shares, the principal, interest and early prepayment interest will be paid back to the lender. We trigger the force sell at 130% margin ratio (Market value of the shares is 30% more than the Principal of the loan). we do not lend the money out again to other borrowers.KPO: If that is the case, it seems to be pretty safe for a lender to lend out their money. Under what scenario (if any) would a lender lose his capital?

Edmond: Lender will start losing their capital if in a very short time span (1 day) the share price drop by more than 30% and we did not have enough time to sell off the shares. 1 instance will be that something happen to the company after market close and the next day the market open,the price is down by more than 30%. We ran numbers on STI component stocks, this hadn't happen in the last 20 years.

KPO: What happens if I selected a 90 day period and decided to sell it on the 70th day? Do I pay interest for the 90 days or it will be automatically computed accordingly?

Edmond: You will pay 10% of the interest for the unused period. So for instance the interest for the remaining 20 days is $100, you will pay the lender a penalty of $10 that’s all.
KPO: For a borrower, once the loan tenure ends, I supposed the position will be auto-closed? How would the price be determined then? Or is there a way to extend the loan?

Edmond: Juggar will at its discretion sell the shares at the market price between 4.30pm - 5pm at the day the loan matures.

Referral
If you were to use our referral, you will be given a credit of $100 which will only be credited into the account after your first trade. To do that, simply email charlotte@juggar.co with the referral code "KPOCZM" and do keep us (kpooooooooooo@gmail.com) in the cc as well :) For every successful signup and upon your first trade, we will be paid $50.

Term and Conditions for $100 Juggar Credit:
1. The user has to have a minimum trade size of $1,000 excluding any brokerage fees across 1 or more trades
2. The user has to have a total holding period of 21 business days across 1 or more trades. The holding period for different trades with a trade size of at least $1,000 can be added together to make up the 21 business days.
3. The $100 will be credited into your account after the completion of the first trade and user can withdraw the $100 credit 3 months after this money has been credited to the account
Juggar: https://www.juggar.co/
LinkedIn: Edmond Tan

Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)