Dear readers, how time flies, we are in December, the final month of the year once again. Every time when it comes to this month of the year, it is normal to be retrospective, to review the different aspects of our lives.
One aspect of my life which I have always been reviewing but will look into more at end of the year is my finance.
I have a simple excel spreadsheet which tracks all the inflows and outflows of my finance. Though there is effort to maintain the spreadsheet, the spreadsheet is very valuable. For example, once I have tracked that my spendings on TOTO have reached near $80 for this year, I have reduced my expenditure on being lucky in TOTO or Singapore Pool related draws.
My expenditure on meals continues to be the biggest ticket of the day-to-day expenditures and this is inevitable due to the fact that many food stalls, restaurants have all increased their prices in recent times.
Definitely, once a while, we can and should indulge in some good food from some nice restaurants and with higher costs, one method which I have used to save some monies is to go for promotional offers from restaurants.
Money can be an emotional thing and one can spend more when one succumbs to emotion. Hence, always manage one’s emotions when it comes to spending on discretionary items.
With GST going up another 1% more next year, we should be even more disciplined when it comes to our expenditures.