At the end of every month, I grab a cup of piping hot coffee, and sit down in front of my laptop to finalise my monthly income, expenses, and savings. Without further ado, here are the numbers.
Thoughts on My Income:
I didn’t tutor students at all this month, so one of my income streams disappeared completely. I’m fine with that though, it was nice to have a break from the constant hustling 🙂
I usually get about $80 a month of interest income from a high-interest-yielding bank account. This month, however, I invested a significant amount of cash into stocks. Next month onwards, I expect my interest income to drop to $30 a month. But I’m good with that as well, because my dividend income (paid out twice-yearly) will definitely increase. I’ll keep you updated!
Thoughts on My Expenses and Savings:
I spent a lot more on food this month ($295) than I usually do ($200). I couldn’t resist but snap up some super good bargains floating around online. I plan to do up a blog post on this soon so stay tuned for that!
Other than that, I didn’t have any expenses out of the ordinary. I’m happy to report that I didn’t buy a single thing from the Black Friday and Cyber Monday sales 🙂 I learned my lesson after impulse-buying a pair of earphones last month.
My savings rate dropped by quite a bit, but that’s due to the drastic decrease in income, not because I had spent more.
The Progress I’ve Made:
1 month to go, 10% left. I’m expecting a 1-month bonus in December so I’m expecting to hit my savings goal for this year 🙂
And That’s it for this Month’s Income and Savings Report!
I try to maximise the use of visuals (charts) and minimise my random musings, to keep these reports as simple as possible.
Hopefully, you enjoyed this or took something away from this.
The plan is to do up regular monthly income and savings reports. These monthly reports will detail my income, savings, and expenditure every month, down to the nearest $5 or $10. If you’re interested, you can check them out at this link to see how much I’ve saved and the progress I’ve been making.
Thanks for reading!
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