At the end of every month, Mrs Budget and I will reconcile our monthly expenses and see what are we spending on, and where we can optimise or cut down our expenses.

We subscribe to the believe that every penny saved is a penny earned – sometimes its easier to save S$100, than to earn S$100, both of which results in the same net worth increase.

In October, here’s what Mr Budget spent on.

Meals	$556.04
Transportation	$85.00
Entertainment	$198.00
Groceries / Home	$778.8
Shopping / Cloths	$61.00
Phone Bill	$56.10
Insurance	$1,635.16
Income Tax	$103.05
Hair Cut	$34.00
Digital Subs	$30.56
Malaysia Mortgage 1	$880.13
Malaysia Mortgage 2	$123.38
Singapore Mortgage	$985.74
Travel	$141.00
Others	$5,319.00

My total expenses this month is at S$10916.52, a high side from my normal benchmark. This consist of S$3848.13 of fixed expenses and $7,068.39 of variable expenses.

The variable expenses is slightly high because of the renewal of my annual term insurance, a one of wedding expense of S$5,000, a one off angpao S$500 to my mum for travel expenses, a one off home projector purchase of S$128.

What I also realised is that my dining cost is slightly on the high side this month, due to over reliance on Grabfood. Making a mental note to reduce dining expenditure for the next few months.

Mortgage payment also makes up almost S$2000 of my monthly expenses, and will only continue to increase the next few years. With one of the condo almost done in the next few months, will need to see if we can start finding tenant or sell off the property so that we can reduce some cash flow stress.

For Mrs Budget, here’s what she spent on.

Meals	$205.10
Transportation	$104.50
Family	$600.00
Entertainment	$105.93
Groceries / Home	$778.83
Phone Bill	$39.71
Endowment	$303.97
Insurance	$87.25
Shopping	$2.40
Gifts (Wedding Festives)	$70.00

Mrs Budget’s total expenditure is $2,303.11, out of which $1,340.53 is fixed expenses. Other than the monthly contribution to the family and endowment plan, Mrs Budget’s spending is well within our satisfaction.

What is not in our satisfaction is the high expenses of Mr Budget – hopefully we can reduce the dining expenditure, entertainment expenditure, home groceries, as well as restructuring one of the Malaysia condo mortgage – either through selling off, or renting it out after TOP in a few months.

Will see how it goes. 🙂

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Also Read: What Have We Done This Month Towards Our Financial Goals – October 2019