Who would have believed that going on an overseas CIP trip can earn yourself BIG BUCKS??
Who would have believed that going on an overseas CIP trip can get yourself monetary returns??
OOps. Before i get myself hacked by ALL those who had contributed to our fund-raising project last year, let me assure you all that those money were really put into good use..
Then what the hell is those big bucks i was talking about?Imagine this: If you paid $500 in cash, and later got back $715 of refund from the subsidy, wouldn't that mean you've earned a net $215 in cash???
Now, here's the logic (and the full method of MAKING money out of ILLIQUID ASSETS)..
Last year, for our OCIP trip to Sabah, we were told to pay up $500 bucks each. Then subsequently, we were asked to hand up an edusave form to withdraw a total of $400 dollars.. Now, so essentially, that means we paid only $500 so far right, considering edusave money aren't really money, cos they are 'illiquid assets', as you can't use them as 'REAL CASH' that gives you the absolute spending power as you wish..
Then, according to SIF(i think it stands for Singapore International Fund), each individual can claim a duno how many percent of subsidy out of the total expenses.. (was it 60%?).. So we are supposed to pay the rest of the 40% on our own..(that comes from the 500+400 above).
Somehow it worked out, that after paying for our part of 40%, the excess money was $715! So we can get the excess money returned to us, IN CASH.
Hey, isn't that clear? We paid $500 in cash, and got back $715 in cash!! wouldn't that mean, we had actually indirectly turned a Net $215 worth of illiquid assets (from edusave) to liquidity (as cash) ?
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Now, i hope i dun give anyone any wrong idea... haha. none of us knew of this 'method' ok.. its juz a discovery that we found out, when we got back the $715 refund from ms leong today.. heheh.
Cos the theory is that, once you withdraw money from edusave, the excess money that was not used, CANNOT be deposited back into edusave again.. so in effect it becomes cash..
so that's totally cool.. i shall return the $500 RIGHTFULLY to my dad, and pocket the excess $215.. (hello, that $215 is rightfully mine, cos its from MY edusave account, remember?)
these $215 shall be a MUCH-NEEDED BOOST to my "Post A Levels Great Plans Fund". The $215 shall be a humble first deposit to this enjoyment fund.. heheheh.
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Well, today oso got back my GP paper.. and for the first time, I PASSED an essay exam!! whoa.. i've been getting 20 to 23 for the past 4 exams lor.. so its quite an encouragement la.. but it never fails to occur to me, that gp is a very volatile subject, just like econs.. Cos, at one moment, you can score marks deep down in a valley, but all of a sudden, you can get marks that u wun expect.. This certainly gives me the uncertain feel, both in GP and econs, which both depend on how well you write during the exams.. So, i duno la.. perhaps luck plays a major part..
I shall still be as lucky during A levels, right?
人生是黑白的.
7:51 PM <3
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