Hi all! We are probably a bit late but Happy New Year to everyone!
As mentioned in the last update 2 weeks ago, Mrs Budget and I have been busy with our wedding and now that it is over, we are back with our regular publishing schedule.
A few key things in the financial space happened over the past 2 weeks, and we wanted to share our thoughts on them.
Firstly, the change in the DBS Multiplier account. Many other financial bloggers have shared about the changes, but basically the most important changes are that your dividend no longer counts as the ‘investment’ category and if you only fulfill one category of the required spending, the interest is only applicable up to S$25,000.
I guess too many people have been abusing the bond ladder method to get monthly dividends when the account was announced, and now DBS finds that the interest rate is not too sustainable.
We previously shared that our individual main account is the DBS Multiplier account. With the new change in the DBS Multiplier account, if I were to continue enjoying the current rate, what I will need to do is to ensure that I have monthly trades, or I start a regular savings plan.
To be honest, that’s a bit too much trouble for me. As much as I want to support DBS which I am holding some shares in, what I will be doing is to swap my main savings account to my UOB One account and will try to hit the 3.88% interest rate. Of course, I will need to make sure that I have more than S$60,000 in the UOB One account for the switch to make sense.
Perhaps I should be picking up UOB shares soon too! 🙂
In terms of portfolio, both Mrs Budget and I did not make any trades last few weeks, and we will be waiting for any opportunities to deploy our capital as and when they come by. Nothing particularly stood out for us at this point but we will be sharing them if any trade happens.
We will be sharing our wedding related expenses in the next update so do keep a look out for that!
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