1st Ever Monthly Expenses Tracking Result (shocking)




The two words i hear very often nowadays are "de-cluttering" and "FIRE". I didn't read much about the former as i do that all the time and i love throwing things away, it is abit of a therapy to me. Not very sure what Kondo said about it, but yeah that's my way of de-cluttering my life. Throw useless things or friends(or not friends anymore) away. 

As for "FIRE", it is becoming a very hip word. I am approaching middle age and the only fire (besides the real fire) i used to know was the club fire at orchard.  Yeah, i am that old. So i googled about FIRE. Definition as below

"DEFINITION of Financial Independence, Retire Early (FIRE) Financial Independence, Retire Early (FIRE) is a movement dedicated to a program of extreme savings and investment that allows proponents to retire far earlier than traditional budgets and retirement plans would allow"

Yeah, i definitely like the sound of FIRE. I know i am quite extreme in investment but i haven't really tracked my own expenses. I have always done a ballpark and thought that i dont really spend much. Alas! How wrong am i! I have a shock of my life when i realised my expenses for the past 30 days is close to 5000 dollars a month. So where did all the money go to? I am just going to write down the top 5. I need some time to understand how to make a fancy chart out of the app. 

1. Vehicle 
2. Alcohol and eating rubbish 
3. Parents
4. Taxes
5. Insurance

Oh my god...i have to cut down on number 2. I actually spent more on drinking and partying than giving to my parents. Damn, i'm not a very good boy, am i? Now i feel very ashamed of myself. Perhaps this is 1 off as the last 1 month or so was the festive month, Christmas, new year and then CNY. If i ever go on FIRE, i am sure item 1 , 4 and 5 can be cut as well. As for item 3..i think i prefer to be a filial little boy.

With my current expenditure and my passive income, i definitely cannot FIRE!  I need to work on my savings. 

Comments

  1. Thanks for sharing your experience with us. Hope we all can learn from your experience. Eventually saving is what we all need to do.

    ReplyDelete
    Replies
    1. Yeah savings and investing. Hehe I shall refrain from embarrassing myself in front of an expert. Your blog can educate people more!

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