Friday, February 10, 2017

Investing Notes - a new platform for centralize information on Shares/Stocks

Hi Everyone!

Recently there is one new investment website called investing note which is a platform whereby people can share their thoughts on shares and also a centralize place to get news and information on stocks like share price and etc. 

I believe this is a good place to go to even if you are new to investment in shares. Of course, you can asked or share your thoughts on other financial issue. 

Image result for investing note logo

If you want to try and, do register yourself via this link to investment note. This platform is absolutely FREE. So do feel free to join and we can share our thoughts together in this platform. 

Sunday, January 15, 2017

Big Event and Year 2017 Update

Hi Everyone,

It's been a while since I have update this blog, mainly due to preparation of my big day (my wedding) which leads to insufficient free time to update my blog.

2016 has been a fruitful year for me because there are several happy event took place. First is my wedding and ROM, it was a wonderful event with my wife as we prepare really hard for this (day and night preparing all the things that we need during the actual event). The reason why we are so busy is because we did not hire any event planner thus, we have to do all the planning all by ourselves. The reason why we did not hire any event planner is because of cutting the unnecessary cost and also since wedding is a once in a lifetime event, we should be the one prepare for it so that it will be meaningful to us when we look back after 10, 20 or even 80 years later (if we are still alive).

Second event is that I have revive this blog in around mid of 2016 (May 2016), this is because I want to keep track and share by journey with the readers once again. The journey in 2016 is pretty good and I hope I can maintain it in the future.

Third event is that I have created my own financial tracker (web platform), which helps to monitor my savings, it is called  Big Saving Small Planning. Below is the sample screenshot

Last but not least, I have managed to save 100K cash in December 2016 and my total net worth now is around 140K!

For the year 2017, as I have mention quite a number of times last year, my main target it to purchase 2 bedroom condo. Although the current cash and CPF that I have might not be able to pay the down payment, well, I still have few months more to go. Nothing is impossible for me, I shall go for it and clear this target of mine :)

That's all for this update, will update my report card soon!

Monday, November 7, 2016

What Happen If You Are Unable To Track Your Expenses

Hi Everyone,

As you have notice, for the last few months, I am unable to produce my expenses results due to forgetfulness and also tight schedule due to wedding and moving into my new house (there are tons of things to do, so if you are at that stage, do note that it will take a lot of your time).

Image result for overspending

Understanding the fact that tracking of expenses can be quite tough as the days goes by, especially if you have other things to focus on, you will slowly neglect this activity. So some of the readers might feel that this will disrupt your saving journey and will eventually lead to overspending. This concern is legit because not many people can control their spending (including myself) without the help/assist of tools (tracking expenses tools).

So what can we do to solve this issue?

There are a few methods that I have suggested previously which can be useful in tackling this issue.

1) Having a Spending Account and a Saving Account

Image result for bank account

When you start working, do remember the first thing to do is to apply for two bank account, one is for saving and another one is for spending. So my friends asked me before, having two accounts is quite troublesome so why not just put it in one account instead?

Putting all your money in one account is convenient but it will be convenient for them to overspend as well. For your saving account, go for those account which gives high interest and for spending account, it would be best if can go for account without minimum sum required (but it's quite hard, so have to maintain $500 in the account)

2) Credit Card Limit

Image result for credit card limit
If you depend on credit card for your spending, there is a way to control it which is specify your credit limit. Like myself, my credit card spending limit is $1,000 per month. This will ensure that I will not overspend and eat into my savings.

Certainly, putting a limit can be restrictive especially if you are purchasing big ticket items like furniture, ring and etc. So if you really need to purchase big ticket item, get another credit card, and that credit card can only be use if and only if you are purchasing big ticket item. (And don't let your wife hold on to that card... if you know what I mean hahaha)

3) Allowance

Image result for allowance
The final method is to live like a student, as I have mention in my previous post, live like a student and draw allowance daily ($10 to $15 per day) before you start your day. This will ensure you that you only have that sum of money to spend everyday, so you won't exceed your monthly expenses.

So, with these methods (choose either one or choose those applicable ones, all if needed) you can skip the chores to keep track of your expenses.

Monday, October 31, 2016

Personal Passive Income and Expenses Monthly Report - October 2016

Hi Everyone,

This month was a good month for me because I manage to save more money due to my increment. It was certainly a good jump in my salary and poof! my saving increase from 76% to 79%! I did not clear any of my goal and at the same time, I cleared my wedding ring installment! (Which means my expenses will go down by $450 per month!)

This post will be a very short one because this is another month whereby I did not keep track of my expenses. The reason is because there are too many things to handle and due to the tight schedule, I did not manage to monitor my expenses. (Probably for the next 2 months as well)

Not to worry, I will start tracking my expenses in 2017! A brand new year with a brand new goal! (Property!)

As for my passive income, well, it's constantly increasing which I believe I can hit $2,000 mark by December 2016!

150K progress - October 2016

As of now, my savings is around 79%. 21 more percent to go before I hit my target, which boils down to around $31,500 more to go!

Conclusion - October 2016

3% jump is indeed a huge jump but the coming month will be a tough one for me because of the wedding expenses kicks in. So might see a drop in next month's saving progress report. But wedding is a once in a lifetime thing, so who cares! (push it till December 2016, where my bonus comes in)