Starting January 2018, the Brunei Government will be trial paying government employees in the Ministry of Finance and Prime Minister’s Office twice a month. Without having gone through being paid twice a month here are some tips I have thought of in order to prepare for smoothing out our household’s cash flow. Prepare for Annual … Continue reading "Semi Monthly Budgeting" ...
Assets Savings $9,519.00 Retirement $58,406.90 Investments $11,000.00 Houses $790,000.00 Total Assets $868,925.90 (+9,535) Liabilities House Financing $248,415.70 Mortgage $108,744.92 Personal Financing $32,211.87 Car Loan $750.00 Total Liabilities $390,122.49 (-1589.28) Net Worth $478,803.41 (+11,124.28) Some increases in retirement as TAP and SCP dividends were announced at 2% (they had been 1% previously for the past three years). Increases in … Continue reading "November 2017 Net Worth Update" ...
I use sinking funds for those expenses I know come up every year. Below are a list of my projected annual expenses (this are usually based on previous annual expenses) as an example:
Worker Insurance – $79
Kids’ School Fees – $2630
Car Servicings – $162
House Insurances – $385
Mobile Phone License – $25
Car Insurances – $424
Road Taxes – $70
Car Inspections – $10
Driving License – $10
Land Taxes – $150
Total expected annual expenses – $3945
It seems counter intuitive that if you want to pay down your mortgage faster and at less interest paid to the bank that you would take on another personal financing and overdraft financing. At some banks prepayments are available without steep penalties but for those that have steep prepayment penalties these are some of the techniques that can be used to pay down the mortgage faster and cheaper.
The goal is ...
Total Assets $858,224.43
Personal Financing $32,500.00
House Financing $248,841.07
Car Loan $1,000.00
Total Liabilities $391,711.77
Net Worth $466,512.66 (+452.18)
Not much movement in my net worth as there was some restructuring done and more to come once the government housing loan comes through as well as naqd (overdraft) financing. All the restructuring is in an effort to increase the principal paid to my loans, decrease interest paid to banks and increase cash flow. A ...
Visualising debt is always helpful to get a feel for and to get motivated to pay it off. Below are a few ways of visualising debt:
1. Debt free charts which you can get here.
2. Programs like undebt.it
Will update this as I go along for now this is what I have so far.
Total Assets $875,996.40
House Financing $249,223.57
Car Loan $1,250.00
Total Liabilities $409,935.92
Net Worth $466,060.48 (+6,249.33)
This month has been a struggle as my kids’ school has been asking me to pay early for next year’s first three months of school fees plus annual book fees. We are talking about $1.4k+. Sales from side hustle has also been a bit slow. Good news I guess is that I still ...
This is a follow-up post on buying property if you wanted to then convert it into a government housing loan after the land title is registered in your name.
7th August 2017
First off, fill in the application form. Click here or get it from the Ministry of Finance website.
The application, unfortunately, is not updated where it asks for your salary increment there should be one for the fifth year as this ...
This post is meant to be as a guide to purchasing property in Brunei using conventional housing loans and Islamic home financing. Having gone through the process of getting two conventional housing loans and one Islamic home financing I feel I can contribute to the costs involved and timelines with regards to purchasing property specifically in Brunei.
STEP 1 – How much are you eligible to loan from the bank? How ...
Posted: Sep 14 2017 @ 3:46 AM
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