Target for Monthly Expenditure 2015 and Cash Saving Target for 2015

Hi Everyone!

I understand that I was suppose to create one post per month but after reading some blogs, I felt that I should have some short term target in order to make sure that I am going to the correct saving path.

So I shall split them into expenditure and 2015 final goal!

I am to spend around $970 per month, I understand that it is very very little, but for me, this is my personal goal.

So this is how I am going to spend my money:

1) Food - $12 per day, assuming 30 days - $360
2) Transport - $150 per month
3) Bills - $120 per month (phone bills and internet bill)
4) Entertainment - $200
5) Others -  $40
6) Mum allowance - $100

Total of $970

Food - will be spending my breakfast, lunch and dinner for 30 days (very straight forward)

Transport - MRT, Bus and sometimes taxi fare

Bills - All the bills that I was responsible to pay (at the same time this is also my allowance for my parent)

Entertainment - weekend expenses can be reduce because I will try to spend less on this area

Others - emergency fund, in case if there is 31 days in the calendar month, it will be activated for food and travel expenses

Mum allowance - For now is $100 because I pay for the bill as well to support the family. Also I have set aside some of my saving (not included in the target I have shown) in a DBS account.

Will report the result on 1st of Nov 2015
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For my target, I hope to achieve 68% of my target. which means $68,000 <- 4k more to go! Hope I can achieve this target by the end of this year.

Shall see whether I can get the target.