January 2020 Monthly Expenses Update

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.

ExpensesJanuary
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
January Expenses Category Breakdown

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

ExpensesJanuary
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

November 2019 Monthly Expenses Update

December 2019 Monthly Expenses Update

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December 2019 Monthly Expenses Update

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 December, here’s what Mr Budget spent on.

ExpensesDecember
Meals$432.84
Transportation $65.00
Entertainment$71.80
Groceries / Home$2,181.93
Shopping / Cloths$946.50
Phone Bill$56.10
Family$1,000.00
Income Tax$103.05
Hair Cut$36.00
Digital Subs$30.56
Malaysia Mortgage 1$879.83
Malaysia Mortgage 2
$141.89
Singapore Mortgage$1,231.78
Others$2,222.01

My total expenses for December is S$9,399.28, consisting of a fixed expenses of S$3,479.20 and variable expenses of S$5,920.08.

The expenses high an all time high as in December, Mr Budget made a few wedding related expenses, all of which are one off expenses. 

It is scary to think that Mr Budget is spending close to S$10,000 in December, but find consolation in the fact that some of these expenses were recovered via the wedding angpao, as shared in our previous update.

Hopefully 2020 will be a year of high savings and personal finance growth! The one part which can not be optimised further is the various mortgage payments – 3 in total, of which one is for the current Singapore house, and another 2 for the condos in Malaysia, both of which are for investment purposes. Hopefully we can reap the benefits in the future.

Also Read: We Spent A Net Total Of S$16,000 For Our Wedding, Or S$80 Per Wedding Guest.

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

ExpensesDecember
Meals$274.52
Transportation$109.80
Family$600.00
Groceries / Home$2,181.93
Phone Bill$39.71
Endowment$303.97
Insurance$87.25
Shopping$439.71
Gifts (Wedding Festives)$388.00

Mrs Budget’s total expenditure was S$4,424.89, out of which S$1,415.25 is the fixes expenses.

Other than contributing a monthly stipend to her parents and contributing to her endowment plan, the other high expenses is the wedding table downpayment which we captured under our “Home” category. As per usual, Mrs Budget’s spending is well within our satisfaction.

October 2019 Monthly Expenses Update

November 2019 Monthly Expenses Update

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November 2019 Monthly Expenses Update

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 November, here’s what Mr Budget spent on.

Meals$266.74
Transportation (mrt)$113.19
Entertainment$374.81
Groceries / Home$2,114.37
Phone Bill$56.10
Family$278.33
Income Tax$103.05
Hair Cut$34.00
Digital Subs$30.56
Malaysia Mortgage 1$851.74
Malaysia Mortgage 2$127.50
Singapore Mortgage$985.74
Others$1,014.75

My total expenses this month is $6,350.88, consisting of a fixed expenses of $2,467.02 and variable expenses of $3,883.86.

The variable expenses is higher this month as we made our usual wedding downpayment for our banquet next year, and we foresee some recovery in that aspect next month when the ang Pao comes in.

Entertainment cost is higher as Mr Budget went overseas with his company. Other than that, managed to cut down on grab food meals this month hence the overall expenses is lower than last month. Mr Budget also incurred a S$1000 cost under “others” as he made a voluntary contribution to his EPF account. 

For the month of November, I would say that we are fairly satisfied with Mr Budget’s monthly spending. 

As with last month, mortgage payments make up to S$2000 of Mr Budget’s monthly fixed expenses. Hopefully we will reap the reward in the future. 

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

Meals$200.95
Transportation$80.00
Family$600.00
Entertainment$16.00
Groceries / Home$2,114.37
Phone Bill$39.71
Endowment$303.97
Insurance$87.25
Income Tax$0.00
Shopping$182.34

Mrs Budget’s total expenditure was $3,657.59, out of which $1,311.88 is the fixes expenses.

Other than contributing a monthly stipend to her parents and contributing to her endowment plan, the other high expenses is the wedding table downpayment. As per usual, Mrs Budget’s spending is well within our satisfaction.

October 2019 Monthly Expenses Update

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October 2019 Monthly Expenses Update

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