Monday, January 1, 2018

Summary Expenses for 2017

As learning throughout the journey from achieving my first 1 Million SGD, with the guidance and advices from various well-known financial advisers and bloggers, one of the basic of achieving your financial goals is to track your expenses. By tracking your expenses, it could indirectly help you to further your planning on your savings and keep track on your direction to gain more income as well. 

I had summarized my spending for 2017 with the monthly expenses recorded every month via Seedly mobile apps. Thank you to the free apps provided by Seedly.sg  which is a useful tool for achieving my financial goals. 

I only started to use Seedly mobile apps to track my monthly expenses started from September 2017. Therefore, I only able to capture my expenses records for 2017 from September till December, which is about 4 months. Although this might not provide a very accurate expenses records, but at least the average spending per month could be some guide of the rough estimation of monthly expenses. This could help me to plan my expense budget for 2018. 

Total Spending                              : $6,443.27 
Estimated Spending (per year)  : $19,329.81 
Average Spending (per month) : $1,610.82 

I had also projected my monthly expenses into a chart formatting for a view of the spending trend. The trend seems to increase from September onward with incremental month by month. This is also due to holidays and festive seasons on year end. It is the time where we used to plan to grab cheap sales that we had long controlled our tempting to purchase the items we want before the sales. The unavoidable season where shopping for discounts and promotions for our clothes and presents. 

Aside to that the holiday seasons on year end also affect to the incremental of monthly spending, especially on December. A portion of the spending was spent on my holiday vacations. I will probably share out the story of my vacations once I settled down my stuff and compiled all the photos together. 

Image extracted from Seedly mobile apps. 






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