It is the end of November with all mandatory contributions and cash top up are in for the month. So I used my MA for medical bills this month and topped it back up to BHS enjoy $300 tax relief for the following year.
MA contribution overflow to SA continues. OA to SA transfer for the month of November is also completed. SA balance currently stands at $84,562.09.
I continue to top up my child’s SA at a very modest sum of $100, something that all parents could consider for their children. SA balance currently stands at $400.
An action and acknowledgement page which I enjoy seeing end of each month.
3 thoughts on “CPF Balances Update – November 2019”
Hi, may I know what’s the rationale of topping up child’s SA monthly? Thanks
There are many disciplined ways to save money for our children. What’s the difference between putting $100 in their piggy bank, or $100 in their savings account, or $100 in their regular savings plan or even their CPF SA? It is the same amount that I want to gift to them anyway. We shouldn’t be too pre-fixated on the reason but more on the purpose – how to set up a good and real example or role model for them to follow when they grow up or become more financially savvy.