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Here are my monthly financials for January 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
Allowance – S$1,200
This is from my monthly SGUS allowance. I will stop receiving this when my course ends in May 2021.
Dividends – S$540.37
This is from my dividends from SingTel and STI ETF. The dividend from STI ETF is paid semi-annually so this will not be repeated next month.
Interest – S$256.70
This is made up of the coupon payments from Singapore Savings Bond and interest from Singlife.
Top 3 Expense Sources
Investment – S$500
This is my monthly investment in STI ETF using POSB Invest-saver.
Website – S$221.12
This is payment for 36 months of WordPress hosting for this website on Exabytes (Affiliate link). My plan is called WP Blogger and it costs about S$6.14 a month. This is one of the cheapest ones and they are based in Singapore. For the amount of website traffic I am expecting, this is sufficient for now.
Health – S$143.51
This is for visiting a polyclinic.
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 the information I provide to them.
Comment and let me know what you think about tracking your finances.
