haha got any excel template to share????philosophical_maniac said:Long time since last post, and I thought I'd post one of my favourite tip here:
How I do this, is by using an Excel spreadsheet (you can easily customize one for yourself), and having different columns like Food, Transport, Entertainment, Giving, Bills, Misc., etc.
- Track ALL outgoing expenses and incoming income
Then, each time you spend $ on something, record it down somewhere. Yes, I know it is extremely tedious. I personally do it in my handphone, and it takes mere seconds. Each time I spend more, I add it up, along with a quick description of what it is. (eg: Food $73.50, Movie $18, Petrol $85.50 etc..)
And I compile it weekly in my spreadsheet: Along with checking my bank account balance and also writing it in there. I will have a few columns: Bank balance and Cash on Hand, Expenses (split up into categories), Input/Output and Cashflow. And since i'm very kiasu, I even have a small coin bank where I include how much coins I put in, and how much my mini-coin bank has so far. Hahaa...
Yeah, thats my 2 cents. Been doing this religiously for over 2yrs now, and I can say this has helped me to be extremely accountable to myself.
Cheers to anyone brave enough to do this! Lol.
this is HARDCOREphilosophical_maniac said:Long time since last post, and I thought I'd post one of my favourite tip here:
How I do this, is by using an Excel spreadsheet (you can easily customize one for yourself), and having different columns like Food, Transport, Entertainment, Giving, Bills, Misc., etc.
- Track ALL outgoing expenses and incoming income
Then, each time you spend $ on something, record it down somewhere. Yes, I know it is extremely tedious. I personally do it in my handphone, and it takes mere seconds. Each time I spend more, I add it up, along with a quick description of what it is. (eg: Food $73.50, Movie $18, Petrol $85.50 etc..)
And I compile it weekly in my spreadsheet: Along with checking my bank account balance and also writing it in there. I will have a few columns: Bank balance and Cash on Hand, Expenses (split up into categories), Input/Output and Cashflow. And since i'm very kiasu, I even have a small coin bank where I include how much coins I put in, and how much my mini-coin bank has so far. Hahaa...
Yeah, thats my 2 cents. Been doing this religiously for over 2yrs now, and I can say this has helped me to be extremely accountable to myself.
Cheers to anyone brave enough to do this! Lol.
philosophical_maniac said:Long time since last post, and I thought I'd post one of my favourite tip here:
How I do this, is by using an Excel spreadsheet (you can easily customize one for yourself), and having different columns like Food, Transport, Entertainment, Giving, Bills, Misc., etc.
- Track ALL outgoing expenses and incoming income
Then, each time you spend $ on something, record it down somewhere. Yes, I know it is extremely tedious. I personally do it in my handphone, and it takes mere seconds. Each time I spend more, I add it up, along with a quick description of what it is. (eg: Food $73.50, Movie $18, Petrol $85.50 etc..)
And I compile it weekly in my spreadsheet: Along with checking my bank account balance and also writing it in there. I will have a few columns: Bank balance and Cash on Hand, Expenses (split up into categories), Input/Output and Cashflow. And since i'm very kiasu, I even have a small coin bank where I include how much coins I put in, and how much my mini-coin bank has so far. Hahaa...
Yeah, thats my 2 cents. Been doing this religiously for over 2yrs now, and I can say this has helped me to be extremely accountable to myself.
Cheers to anyone brave enough to do this! Lol.
But after saving $$$, which account should it go to ?
Day to day Savings,
Checking
Investment
Reserves
Emergency
Esp when inflation is gonna hit new high next year, i must do something or the value of my money will erodes!
Bring your own water. I'm amazed how much money I can save on softdrinks just by lugging around a 500ml bottle (which was given during a volunteer activity). Each can you save at retail is $1.20 a pop...
You are so right! I have stopped ordering drinks for lunch or dinner nowadays. The cost for 2 drinks per day can hit $2.00. Multiply that by 30 days and it's $60! I've also decided not to subscribe to cable TV because I won't have much time to watch and min fee a month I think is $25 excluding other costs. I don't own a car and I take public transport (yes, I agree it sucks) but no choice...and my idea of 'public transport' excludes cabs. I've only taken cabs less than 3 times this year.
And...this is very personal and up to individual, don't get married! Unless you are very very very sure the woman is not a money whacker, you are doomed. I have friends who pay for the car loan single handedly while the wife contributes nothing. And if the wife behaves like Tai Tai even though you only earn less than 5K, it's good luck also. The guy friend feels its alright because its 'natural' for a man to pay for everything. Talk about over-macho....then consider housing loans, child education, etc!
U cant beat me. I also unwired the whole aircon wiring that ran from the storeroom through the kitchen all the way to the bedroom that I installed additional window unit a year ago. I also remove the glass window lourves in case the ones in my new toilet broke.
As for computer parts, I got gadgets and parts in two boxes which I think I got to throw away soon or later.
Wahhh.. you win anytime bro..
I agree that it Should be give-and-take in most cases but overall, especially in Singapore, I think the woman is the winning partner in a marriage. Most things are still footed by the guy even though may earn about the same salary. In the end after deducting costs and expenses, the woman will still have more in savings account...imagine either party asks for a divorce, the woman still gets monthly compensation....wowowow.
That is why even for guys may want to consider having "shi fang qian" or set aside reserves not seen by the spouse.
To add to Anthony's good suggestions on transport savers, I would like to also add:
#Money Saving Tip for Transport#
Keep your Ezlink card balance low, i.e. for me, I top up when my balance is between $5-$10. If you keep a high $50+ balance in your Ezlink, you are losing interest that can be better earned through savings e.g. Maybank iSavvy at 1.68% for balances > $5,000 or Stanchart eSaver at 1.5% or even Fairprice Plus at 1%.
Nowadays, with the easy availability of General Ticketing Machines and opening up of Transitlink counters after office hours, topping up is a breeze. Also, if you lose your Ezlink card, less money is wasted.
Be well and prosper
Bullseye. You are spot on! Every existing charter is in favour of women....men are just expected to suffer financially.