Friday, April 07, 2006

Money matters

Matter 1

Last August, the Acey Deucey family, bar gong gong, decided to invest in
Capitaland. After monitoring the prices for a while, we went in at the $2.80-2.90 range.

Three months later, i.e. November, it had risen to around $3.30.

Ma ma 說:“Ai yoh! Xim tia! Boh buay kah jueh tam boh!” (Translation: Heartache ah! Why didn't we buy more?!)

Mee mee 和 gu gu 說:“Mai an nee tam xim lah.” (Translation: Don't be greedy.)

A further two months on, i.e. January 2006, it hit the heights of $3.70.

Ma ma 和 mee mee 說:“嗨!早知道買多一點!” (Translation: If I had known, I would have bought more.)

Gu gu 說:“事事難預料。” (Translation: Such things are unpredictable.)

It is now April 2006.
Capitaland's last traded price was $4.84.

Gu gu 說:“嗨!可惜可惜。。。Wa ma xim tia liao.” (Translation: *Sigh* What a pity, what a pity... I also feel the heartache now.)

Ma ma 和 mee mee sniggers at gu gu.

(Please do not ask me for stock tips. :P)


Matter 2

I've been looking around for various avenues to transfer my AU$ savings home. And for every possible solution I find over here, e.g. via my bank, via money transfer services etc., I'm quoted extremely uncompetitive exchange rates, on top of slapping me with obscene administrative fees.

I've since decided to bring the whole lot home in cash. Which is going to be a little tricky, because the largest denomination of the Australian currency system is the AU$100.

Speaking of which, did you know that the Singapore currency system includes the S$10,000 note? Dan and Stef was very surprised when I told them that. Apparently, the largest denomination in China is the 100 元, which they said causes a lot of problems in the cities such as Shanghai where the cost of living is much higher.

I've actually seen a S$10,000 note before. Indeed, I've seen one from the earlier bird series as well. That particular note is strangely much broader than the other notes we are used to seeing.


Matter 3

More of a grumble than a matter actually. The S$/AU$ exchange rates has been dropping like a stone since December. Until late last year, it had been holding steady at S$1.25/AU$1. It is now S$1.16/AU$1. Ouch.

And the more it falls, the greater my urge to splurge before I leave the country for good.


Matter 4

Then there is the matter of whether to close or not to close my bank account here. My Hong Kong colleague had suggested that I leave it open, as it will save the hassle of opening another Australian bank account should I require one later. Valid (but not very material) point.

My
current bank account, you might recall, pays close to zero interest rate in return for close to zero transaction costs. I enquired what fees I would attract when I lose my student status, but still keep the account open and make no transactions. I was told it will attract a monthly account fee of AU$5.

So I'll have to pay the monthly account fee whilst earning near zero interest. That made the decision a no-brainer. Bye bye, Aussie bank account.

But that causes a different kind of problem. My last pay is coming in only AFTER I've left Sydney.


Matter 5

Finally, the small matter of my superannuation (the name of pensions in Australia, the rough equivalent of our CPF in Singapore, except they are privately run).


I was clearing my drawer the other day and going through some old letters. I was reminded of my superannuation account and discovered I actually have a couple hundred of dollars in it. Heh. They must have been from my teaching pay; I had taught a couple of semesters back. So I explored the booklet and website a little and made a further discovery. I can actually withdraw what's in my account, but only after my visa expires.

That's fine by me. A couple more hundred bucks to treat my friends to lunches/dinners.


Akan Datang: Shutting down

7 days to go.

10 Comments:

Anonymous Anonymous said...

Ac,

I think you can be a good stock investor.

:)

Being dispassionate about money and not greedy is a pre-requisite. Most people get carried away... like Malaysia in the mid-1990s during the stock boom, ppl invested their whole life savings in it and when it crashed....

:((

Maybe that could be your part-time career.

Cheers

CM

Fri Apr 07, 08:20:00 am 2006  
Blogger Acey Deucey said...

HA HA HA... You've been giving me tonnes of career advice, CM.

Fri Apr 07, 08:25:00 am 2006  
Anonymous Anonymous said...

Hehe,

That could be my part time job in the future-leh...

Actually I have a good resume book ...so let me know if you want it...unless you have finalised your resume olredi...

But the link is pretty good also. Sad the fella who posted it quit looking for an actuarial job afterwards.

CM

Fri Apr 07, 08:30:00 am 2006  
Blogger Acey Deucey said...

Thanks for the offer.

Fri Apr 07, 08:34:00 am 2006  
Anonymous Anonymous said...

Hehe,

Cryptic as usual...

So do you want it or not???

You might have to use an Old Windows 98 and set the date back a bit cos' it's time locked.

Alternatively, I can just send it to your Singapore address.

CM

Fri Apr 07, 08:41:00 am 2006  
Blogger Acey Deucey said...

That means I don't want it for now but when I do need it, I will e-mail you.

I do not like to keep things I don't need (for now).

Fri Apr 07, 08:43:00 am 2006  
Anonymous Anonymous said...

So des ne.

Ok.

CM

Fri Apr 07, 08:51:00 am 2006  
Blogger Acey Deucey said...

Thanks for your understanding.

Fri Apr 07, 08:53:00 am 2006  
Anonymous Jade said...

wahh.. seems like you are a rich guy!!!
Hint 1:
want to carry back your Aussie cash, but $100 bills are too cumbersome????!!!!
$$$$$$$$$$$$$$$$$$$

Hint2:
The exchange rate fell by 9 cents and you are feeling the pain???
$$$$$$$$$$$$$$$$$$$$$

Be careful of your bags when you return home buddy. What time is your flight? What color is your lugagge?

hahahahaha

Fri Apr 07, 11:56:00 am 2006  
Blogger Acey Deucey said...

I've hired bodyguards. :P

Fri Apr 07, 11:59:00 am 2006  

Post a Comment

<< Home