Dear readers, Thanks much for joining me here once again on SG Stocks Investing.
If you have been following up my posts, you would have known that these days, amidst the festive season, when many are celebrating and rewarding themselves after a year, I have been spring cleaning and housekeeping to prepare for the year ahead.
Housekeeping is a Catharsis as it enables me to pass on those items which no longer serve me.
The housekeeping is also, to me, a sacred exercise as it teaches me on the idea not to be too attached to material things. Attachment brings suffering, this is one of the learnings from Buddhism for me.
As my faith also underscores, change is the only constant, hence it is important that we do not be too attached to things. Our things should serve us rather than we serving them, for example, keeping lots of stuff at our houses such that there is only that much real space for utilization in our lives. And as we evolve and change, we usher in new experiences, new people and new thing. Beside keeping many old items not used will only attract negative energy (Qi) which is not conducive for a fruitful living.
As part of my annual review, I was looking at just where my expenditures for the year 2024 have all gone. This is simple as I have kept track of all my expenditures since my full-time National Service days and a look at my financial spreadsheet provides me with the insights I need.
I have traditionally included monthly CPF contributions as an expense item too. It was only after I took the CPF contribution our from my expenditures that I was slightly more comfortable with what I have spent in all for the year.
Insurances continue to be a key component of my expenditures this year and this is something I contribute to daily for protection for my family and I in life where anything can happen.
Education spendings has become one of the new key contributors of my expenditure as I shored up more in terms of enrichment lessons for my kids as they enter into important years of their education.
One new item which I spend quite a sum on this year was a well-deserved overseas trip with my family as it has been many years since we went for an overseas tour together.
Other than the above, the largest component of my expenditures will be on meals for myself and family. This component has inevitably increased for the year with the higher cost of living these days.
Going into Year 2024, I set aside a savings budget and am glad that overall, I have met the target.
I could have exceeded my savings budget for the year if I have not spent on some wants. But I am of the view that such occasional spending to satiate our material cravings and comforts are only normal. We need to have some self care afterall, especially after weeks of hectic work. Only when we are good to and feel good ourselves, can we bring positive vibrations and care for our family and loved ones too.
Money is just a medium after all. Money is a Means to an End. We come to the world empty-handed and return to source in the same way.
I often tell my kids that when I pass on, three things I will leave to them are memories for them, some cash to sustain them and also my many books so that they continue to be guided by positive values and learning from the many notable famous teachers of the books whom I have learnt from in turn.
We should just avoid Overspend and put monies to good use for us. And if we can, we can also donate some monies to help members of our national or international community.