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 January, here’s what Mr Budget spent on.
| Expenses | January |
| Meals | $318.56 |
| Transportation | $65.00 |
| Entertainment | $176.20 |
| Groceries / Home | $121.82 |
| Shopping / Cloths | $382.53 |
| Phone Bill | $56.10 |
| Income Tax | $103.05 |
| Hair Cut | $34.00 |
| Digital Subs | $30.56 |
| Malaysia Mortgage 1 | $877.73 |
| Malaysia Mortgage 2 | $366.51 |
| Singapore Mortgage | $1,231.80 |
| Travel | $1,819.94 |
| CPF Top Up | $7,000.00 |
| Wedding Expenses | $4,855.54 |
My total expenses for January ended up to be a whopping $17,439.34, consisting of a $2,699.75 fixed expenses and $14,739.59 of variable expenses.
The expenses increases significantly mostly due to the final payment of our wedding expenses ($4,855.54), our recent honeymoon to Japan ($1,819.94) as well as a CPF SA contribution (S$7,000).
Removing all of these one off expenses, the true expenses in January would have been a more manageable S$3,763.86. Of the S$3,763.86, mortgage payment is at S$2,476.04, and the rest is at S$1287.82.
| Daily Expenses | $1,287.82 |
| Mortgage Commitments | $2,476.04 |
| Wedding, CPF Top Up, Honeymoon | $13,675.48 |
| Total January Expenses | $17,439.34 |
For Mrs Budget, here’s what she spent on.
| Expenses | January |
| Meals | $107.82 |
| Transportation | $80.00 |
| Family | $600.00 |
| Groceries / Home | $121.82 |
| Phone Bill | $65.58 |
| Endowment | $303.97 |
| Insurance | $87.25 |
| Shopping | $305.00 |
| Travel | $1,819.94 |
| Gifts (Wedding Festives) | $20.00 |
| Wedding Expenses | $4,716.54 |
Mrs Budget spent a total of $8,227.92, of which $1,244.62 is the fixed expenses and $6,983.30 is the variable expenses.
Similarly, wedding and travel expenses made up the bulk of the expenses in January.
We don’t foresee to have any big expenses for the rest of the year other than some small travel expenses to Malaysia, so that should ease our cash flow as well as help us build up our cash savings for the year. 🙂
How has January been like for you?
October 2019 Monthly Expenses Update
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December 2019 Monthly Expenses Update
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