Habits of cutting down the monthly fixed expenses

There are many fixed expenses when you have a house of your own.

Electricity bill, S&CC charges, Insurance, Internet, Mobile, & the biggest of all housing loan.

When the open market started for the electricity services, i switched to Geneco, and got some good rebates, and when my Geneco 2 years plan ends, i would like to switch to the Wholesale electricity market though Sp group. Every switch in theory should saved about $10 to $20 dollars every month, however i am not seeing a big difference in the billing, probably due to the hot weather or covid staying home period which blast the monthly bill through the rooftop.

The Singapore Government gives a big sum of rebates for the S&CC and electricity/water bills. After rebates, we are looking at <$100 per month for 2019 electricity & water, pretty decent for a family of 5.

For Insurance, i have switched to Aviva group term $400k at $196.80 plus Living Care (CI) $200k at $144, i am still on Great eastern Term life+CI $200,000 at $626, and i will be cancelling it at the end of the year before the next premium is due.

That is a saving of $285.20 per year until i am 36 years old with more coverage quantum. With Aviva group insurance, there are pros and cons.
36 years old onwards, the living care (CI) will be increased from $12/month to $19.80/ month, that’s a saving of $191.60 per year from 36 years old to 45 years old. After 46 years old, the aviva term and living care combination will be more expensive than Great Eastern, by then i should be cancelling my CI plan, as the family finance situation would have outgrown the $200,000 Aviva living care.

I am on Great Eastern Hospitalisation plan covered up to A ward, while i am more inclined towards getting covered up to private, the higher pricing especially towards the end hold me off. It’s a fine balance. Mine was signed many years back, so i still can claim up to 100% as charged.

For internet, i started off with 1Gbps, and i have since downgraded to 500Mbps, and saved about $7.50/month, i got 6 months free when i signed up for the 1gbps plan back then.

Mobile plan back then was about $40 minimum for a data plan, and i switched to the Starhub lite plan at $15/month and when the promo price ended after 2 years reverting back to $30 a month, i have switched to Giga at $10/month.

For expenses, less is more.

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