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 February, here’s what Mr Budget spent on.
| Expenses | February |
| Meals | $369.30 |
| Transportation (mrt) | $40.00 |
| Entertainment | $67.30 |
| Groceries / Home | $510.05 |
| Shopping / Cloths | $8.00 |
| Phone Bill | $56.10 |
| Mum | $210.00 |
| Income Tax | $103.05 |
| Hair Cut | $30.36 |
| Digital Subs | $30.56 |
| Malaysia Mortgage 1 | $763.84 |
| Malaysia Mortgage 2 | $359.96 |
| Malaysia Home | $583.33 |
| Singapore Mortgage | $1,215.26 |
| Travel | $38.67 |
| Others | $482.32 |
Mr Budget’s total expenditure for February is at $4,868.09, a significant reduction as compared to last month’s extraordinary expenditure.
The bulk of the expenses are mortgages related expenses, and if we remove all of those expenses, the true expenditure will be at S$1945.71. Mortgage related expenses is at S$2922.39, making up to 60% of the monthly expenses.
For Mrs Budget, here’s what she spent on.
| Expenses | February |
| Meals | $149.70 |
| Transportation | $80.00 |
| Family | $600.00 |
| Groceries / Home | $510.05 |
| Phone Bill | $25.00 |
| Endowment | $303.97 |
| Insurance | $87.25 |
| Shopping | $163.02 |
| Fitness | $28.00 |
| Dog | $39.00 |
| Singapore Mortgage | $1,231.54 |
| Others | $7,042.80 |
Mrs Budget total expenditure is at S$10,260.33, significantly higher than January.
This is partly due to the one off annual contribution to her CPF SA account of S$7,000. Excluding that, there isn’t much changes in her monthly expenditure.
Both Mr and Mrs Budget also paid for our annual property tax last month and hence our home expenses shot up this month.
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 February been like for you?
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January 2020 Monthly Expenses Update
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