Dear readers, as Year 2019 is coming to a close, it is timely for us to do an analysis of our income, expenditure and savings. As someone who track my expenditure on a daily basis, I strongly recommend all to use the percentage of our expenditure versus our earned incomes to get a sensing of just how much we save and spend.
For Year 2019, apart from CPF contributions which stood at approximately 20%, my expenditure and savings portion as a percentage of earned incomes is approximately the same at 40% each. This means that I have saved as much as I have earned for Year 2019.
My savings portion could have been higher than expenditures if not for the lower year-end bonuses this year. And also, for this year, I have been spending slightly more on some positive experiences and buying useful family furniture but these to me are all monies well-spent.
As for investments, I have been paring down my investment portfolio and putting them into good uses in fixed deposits to earn some higher interests while waiting for an opportune time to pick up good stocks once again.
So, how has your savings been for Year 2019?
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