I have been tracking my expenses without fail (every single cents including the cash in my wallet) since I started working. However, I do not budget because I believe that I am a KPO/thrifty by nature. Having said that, there is still a need to review and ensure that it is true. In addition, having a good grasp of the monthly expenses help in planning for financial freedom/retirement too!
One of the things I always wanted to do is to review my expenses on a monthly basis but it just isn't interesting enough so it became a yearly update:
- 2017 Expenses Review
- 2017 Q1 Expenses (I tried to do it on a quarterly basis and it failed miserably)
- 2016 Expenses Review
It is obvious I have brushed this aside since I am only doing a January update only now. Why now? I got motivated by 15HWW latest post - 2017 Expenses: Summary And Reflections. He has done it consecutively for 54 months! The plan is to start sharing only my own expenses. Once CZM and I get married and we stay together, the expenses update will be based on 2 of us as a family. I think it will be interesting to look back and see how much our expenses change at different phases of life.
Current Profile: 28 years old male planning to get married this year and is still living with parents.
$3,302.55 is pretty high due to Vacation and Wedding expenses. However, those are expenses from our mutual fund (KPO Expense Fund), you can read more about how we manage our finances here. Technically, the expenses for January should be $3,302.55 - ($1,286.6 + $805.64) / 2 = $2,256.43.
Vacation
I blogged about how we use miles to redeem one-way SIA Suites air tickets to the United States, New York previously - Redeeming KrisFlyer Miles for Singapore Airlines Suites = 38.6% Cashback! We finally booked the other way back home - American Airlines Economy from Las Vegas with an 8 hours stopover at Tokyo for $643.30 each. It was definitely much cheaper than we have expected!
One of the things I always wanted to do is to review my expenses on a monthly basis but it just isn't interesting enough so it became a yearly update:
- 2017 Expenses Review
- 2017 Q1 Expenses (I tried to do it on a quarterly basis and it failed miserably)
- 2016 Expenses Review
It is obvious I have brushed this aside since I am only doing a January update only now. Why now? I got motivated by 15HWW latest post - 2017 Expenses: Summary And Reflections. He has done it consecutively for 54 months! The plan is to start sharing only my own expenses. Once CZM and I get married and we stay together, the expenses update will be based on 2 of us as a family. I think it will be interesting to look back and see how much our expenses change at different phases of life.
Current Profile: 28 years old male planning to get married this year and is still living with parents.
$3,302.55 is pretty high due to Vacation and Wedding expenses. However, those are expenses from our mutual fund (KPO Expense Fund), you can read more about how we manage our finances here. Technically, the expenses for January should be $3,302.55 - ($1,286.6 + $805.64) / 2 = $2,256.43.
Vacation
I blogged about how we use miles to redeem one-way SIA Suites air tickets to the United States, New York previously - Redeeming KrisFlyer Miles for Singapore Airlines Suites = 38.6% Cashback! We finally booked the other way back home - American Airlines Economy from Las Vegas with an 8 hours stopover at Tokyo for $643.30 each. It was definitely much cheaper than we have expected!
Wedding
We paid a deposit for our actual day photography and bought some random stuff/props for the pre-wedding photoshoot.
Parents
That is the monthly allowance I give to my parents.
Me
I bought a PlayStation game - Monster Hunter World for $75.25 and a one year PlayStation network for $44.34 (I got it during a promotion 12 + 3 months). The remaining $69.97 is the installment for Surface Pro which I got about 2 years back.
Insurance
This is a fixed monthly cost for the basic coverage - term life and hospitalization.
Food
My food expenses are exceptionally low because I stay with my parents!
Transportation
There were some promotions by Uber so we took quite a few cab rides.
Public transportation seems a lot lower because of 2 reasons:
1. I am no longer using EZ Link Auto-Reload, Account-Based Ticketing (ABT) is a much better choice as you pay what you use instead of triggering top up where the money is stored in the EZ Link card. The best part is miles can be earned too!
2. Discount for commuters who enter stations before 7.45am on weekdays.
Treat
As usual, CZM is the biggest beneficiary followed by my family.
Health
Fell sick and went to see GP. This amount is 100% covered by the company. Technically, this is not a real expense but I decided to include it to keep the expenses tracking more realistic.
Summary
January 2018 - $2,256.43
Total expenses for 2018: $2,256.43
Average expenses per month for 2018: $2,256.43
Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
We paid a deposit for our actual day photography and bought some random stuff/props for the pre-wedding photoshoot.
Parents
That is the monthly allowance I give to my parents.
Me
I bought a PlayStation game - Monster Hunter World for $75.25 and a one year PlayStation network for $44.34 (I got it during a promotion 12 + 3 months). The remaining $69.97 is the installment for Surface Pro which I got about 2 years back.
Insurance
This is a fixed monthly cost for the basic coverage - term life and hospitalization.
Food
My food expenses are exceptionally low because I stay with my parents!
Transportation
There were some promotions by Uber so we took quite a few cab rides.
Public transportation seems a lot lower because of 2 reasons:
1. I am no longer using EZ Link Auto-Reload, Account-Based Ticketing (ABT) is a much better choice as you pay what you use instead of triggering top up where the money is stored in the EZ Link card. The best part is miles can be earned too!
2. Discount for commuters who enter stations before 7.45am on weekdays.
Treat
As usual, CZM is the biggest beneficiary followed by my family.
Health
Fell sick and went to see GP. This amount is 100% covered by the company. Technically, this is not a real expense but I decided to include it to keep the expenses tracking more realistic.
Summary
January 2018 - $2,256.43
Total expenses for 2018: $2,256.43
Average expenses per month for 2018: $2,256.43
Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
Hi KPO,
ReplyDeleteClap clap clap and congratulations graduating soon from the Bachelor's club! Where are you holding your wedding at?
8 hours stopover in Tokyo.. Wow.. you've got some things to play around in their airport. Haha.
Thanks! I will share where is it after the wedding. I scare if I tell you now, you will suddenly appear. Hahaha.
DeleteYeah. CZM wanted to shop shop there. Shiseido and bai se lian ren are her favorites.
Phone bill - Parent still paying
ReplyDeleteEzlink - No explaination leh. We travel differently? You are probably using EZLink Auto-Reload?
Food - I am on diet, only drink milk/tea for lunch :)