For me, it’s actually a good habit to constantly monitoring our expenses to track down where our money goes or whether we are spending on the right things or not.
Every week I will actually try reviewing my expenses so that I can see where my money goes and whether there is a need to cut down some expenses or just to see am I spending on important things or not.
It’s also is a good way to see whether I’m on a right direction on saving and investing to achieve my financial goal. I’m very sure if we don’t do it, we will be having hard time achieving our financial goal.
Below is the breakdown of my spending for last week from 30th of May to 5th of June.
The average spending per day is RM22.03 which for me is very high. I was actually trying to live under RM10 per day which some of the time; I was actually managed to do it. But for this period, the expenses were twice my budget.
Last week, I did a bit of grocery shopping and also bought a book on how to pick a good company and buy their shares for investment. I feel that’s a good investment for knowledge but that also the reason I was overspending for the week.
I was also overspending on Saturday when my friend asks me to join him out for a dinner.
I can save on petrol because I don’t have car. I only have my motorcycle which cost me around RM7 per week for petrol.
Overall, I’m not satisfied with the performance. There is so much room for improvement to live under budget.
I have an experience living under very tight budget which I still survive. I might as well share on how I manage to survive the months with salary only RM1200 and still able to save money. Its unbelievable that some people out there unable to survive with salary higher than that.