Here are my monthly financials for April 2021.
It is good to keep track and review your monthly financials so you can be in control of your finances.
Having a fixed income and knowing my expenses will not exceed my budget allowed me to not track my expenses before I left my job. I did not feel a need to track my finances strictly as I know I can control my spending. I only tracked my investments diligently.
Since I will not have a fixed source of income soon, I decided to start tracking my financials starting from January 2021. Money will be tight so I need to be extra prudent. This also helps generate content for my website.
Top 3 Income Sources
Clinical Trial – S$2,820
I attended a clinical trial this month and this is the payment received. I talked about my clinical trial experience here.
Allowance – S$1,200
This is from my monthly SGUS allowance. I will stop receiving this when my course ends in May 2021.
Interest – S$133.41
This is made up of the coupon payments from Singapore Savings Bond and interest from Singlife.
Top 3 Expense Sources
Investment – S$420
This is my monthly investment in STI ETF using POSB Invest-saver. I mentioned last month that I lowered it to S$200.
The S$220 is from the one share I bought for GameStop, anticipating the MOASS, Mother Of All Short Squeezes. It’s basically a bet that there will be a huge short squeeze coming.
Should this MOASS trigger, it might create a major worldwide market correction and it is when I will deploy my investment war chest.
Disclaimer: This is not financial advice. I just like the stock.
I noticed that if I didn’t make that ad-hoc purchase of GameStop, my spending for the month is about S$316.49, including my S$200 STI ETF purchase.
Taxes – S$42.44
This is the final payment for my personal income taxes from FY 2019. If I can get financially independent from my dividends, this might be my last personal income tax payment in my life.
Groceries – S$25.37
This is for groceries I bought at NTUC.
Money Manager App
I am using an app called Money Manager to track my income and expenses. It is a free tool available on mobile available on Google Play Store and Apple App Store.
As far as I know, the data collected from the app is for tracking the ads you view and interact with on the app.
Please check out their privacy policy on what information they collect and what is it used for.
Personally, the value this app brings to me outweighs the value of information I provide to them.
Comment and let me know what you think about tracking your finances.
