Semi-automate your finances and be rewarded with rebates/points!

I learnt about the whole idea of automating finances, after reading some blogs and books like “The Automatic Millionaire”. It seems like an interesting concept, as it simplifies things, and so I’ve been taking steps to move most of my bill-paying online.

Essentially, my plan is limited to (3) different bank credit cards, and (2) savings account.

Citibank Recurring payments are set up via Citibank One-bill

POSB recurring payments are set up via POSB Everyday Card

Renewal of HDB Season Parking Ticket can be done via HDB’s website

Town Council Conservancy & Service charges can be paid online via vpost.

Road Tax can be paid at any Post Office. You can choose to pay in 0% installment plans up to 6 months using your Diners credit card. Essentially, this means if you currently only pay half a year’s road tax each time, you could pay off your whole road tax over 12 months. (You’ve to make a trip to the Post Office every 6 months to charge it to your card though.)

I’m self-employed. While contributing to my ordinary and special accounts are voluntary, it’s compulsory to top up my medisave account. By using my diners card at any AXS station, it allows me to meet my medisave liabilities, and earn diners club points at the same time. Sorry full-timers, since your contributions are automatic, you can’t earn any points 😛 However, if you are topping up your CPF account (subject to cap), you can earn points too.

Note that there is a Singtel-UOB card that offers up to 2.5% rebate on your Singtel bills, but I personally am not keen on having another card just for one bill. Besides, I’m currently getting a 20% discount off my mobile lines via the MioHome “Mobile Multi-line discount” scheme.

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