Saturday, September 19, 2015

Budget state of emergency

Since I've last blogged, I have been spending some money here and there. Here are some of my big/significant spends:

- resigned from my current stable job (though the job didn't pay as much i want, i resigned and thankfully, i managed to find another job paying me more in a short amount of time. thus far, work has been quite good)
- paid $2000 for the engagement ring (my ring costs slightly north of SGD 6000)
- bought a pandora bracelet mounting up to $700 for my girlfriend
- blew a bit of money on a vacation/stay-cation
- bought a midori traveler's notebook (this costs nothing to me as i bought it under company's account, but i foresee the inserts being an expense much later)
- took a few no-pay-leaves here and there. They costs  me about $100 a day
- SGD 2000 towards my hotel banquet deposit. But that is claimable from my joint account with my girlfriend


Upcoming pocket burners:

- proposal to my fiance would definitely cost me about $100-$200, i hope i can cut on this as much as i can.
- suits for my wedding (I'm planning to get a suit for my wedding. Not wanting to be sexist here, but spending $1k on gown rentals n no one bats and eye. Tailor a nice wool suit for wedding day and future use, everybody loses their mind.
-wedding bands
- furniture for my room as I'm moving house and my current furniture is all fixed


On top of all those, I maintain a monthly $200 towards investments. As of now, my rate of saving is not as much as my rate of spending. Sure, this is a significant time in my life with wedding and moving house and all, but like a company, it has to have enough cash to keep it going through certain events and even last financial crisis, so i don't see why a human being can be any lesser.


firstly i'd like to say that most of my housing and wedding expenses are also borne equally by my wife to be, but as much as possible, i would like to grow both of our wealth. As she is a  school teacher, her expenses are really very little, but i spend on necessity in 2 days, she can spend for her whole week. food prices in her school is dirt cheap.

secondly, i would like to announce that my financial department has called to order a state of emergency. austerity measures need to be in place. do not take it like bitch or whine about face or pride, there is no pride in not having any money management.

these measures are:
- budget of $15 a day, including transport and $20 from fri to sunday. that is a square $120/week; $480/month; about $6400 a year.
- i now roughly make about $38k a year after tax, so i should be able to save a substantial amount if i keep it up.
- as always, there has to be some leeway as to provide a reward. so at the end of every month, if i spend less than $400, i get to top up the balance to $150 for some leisure if i want and this leisure money is not to be given until earned. and it cannot be brought forward or excessively spent.
- NO MORE BUYING OF WATCHES (this will only have a leeway for a rolex explorer watch which perhaps i could after my wedding)
- limit to 2 holidays a year maximum spending of $1500 for both
- work hard do not get distracted by shopping
- exercise more


maybe these are some things you could do for your future as well.

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