So over the past 8 months, I have been actively tracking my personal finance related stuffs on an excel sheet and I have to admit, I am slightly obsessed by it. From liquid asset tracking to active trades and credit card cashback tracking, the last part of my sheet seems to be the expense sheet, which I just started a month ago.
To track my personal expenses, I’ve been using this app called Spendee, which I personally recommend – super easy to use and it’s free.
Similar to many personal finance app, it allows you to enter your expense category and then record it, which you can then sort and see which category are you overspending on. The free version of the app also allows you to set a budget, albeit for one category only.
Here’s what my spendee web app looked like after a month of tracking:
So in June 2018, here are my expenses:
|Category||June 2018||% Expense|
|Groceries / Home||$24.90||0.75%|
|Google / Apple / Spotify||$25.77||0.78%|
|Novum Mortgage (MY)||$677.23||20.42%|
This month the meal portion is slightly higher than my monthly budget of $400, due to an anniversary dinner with the gf as well as a dinner treat with the gf’s family. I probably have to adjust my monthly meal budget slightly upwards as I foresee this to be a recurring but necessary expense.
The travel portion is also an additional budget as we are planning for a year end trip to Japan together.
My total expenditure is at $3,315.99, which the fixed expenses being $1,978.08 and the variable expenses at $1,337.91
For the coming few months, I’m looking at reducing the fixed expenses:
- Have arranged a meeting with a financial consultant to see if I can lower my insurance premium
- Decided to stop my contribution to World Vision (have been donating a fixed amount to a kid in Sri Lanka since 2015)
- Cutting down on entertainment and transportation
- Income tax for 2018 is slightly lower so from July onwards the amount will be lower (because lesser income haha)
June 2018 Expense: $3,315.99
Note to self: S$3,315 of expenses is a very high expense, and very very alarming.
Drawing from Thomas’ ending quote on his blog,
“Those who attend to small expenses are always rich” – John Adams