How does 9% GST affect my 1H2024 Expenses?

A short post to share on spendings for the first half.

If you are new to my expenses post, the following is how I categorise my expenses.

In short, the increase in GST to 9% this year has not increased my total spending for the first half of this year. I did see an increase in bill size when making my payment. So it is a pleasant surprise that total expenses for the first half has not inched up.

It is also not due to the increase in U-Save or CDC Vouchers provided by the government. I am grateful for the support but I excluded them in my tracking as these might be withdrawn in the future.

Significant changes

Most categories did not vary much but a few of them have larger changes.

Contributing to community: A spike in income tax due to a one-off bonus received in 2022. This will reverse in the next half as I do not need to pay income tax for the latest year.

Creating a loving home: Repaired a broken window hinge, a new hair dryer for the ladies at home, and replacing the 13-year old gas water heater increased the expense in this category.

Interestingly, I just received an email from Google recently that there are 1,000 view on my reviews of the service. If only I have as much views on my individual posts!

Educating children: Daughter decided not to carry on with her piano lessons.

Feeling and looking good: Completed payment for my daughter’s braces.

Higher expenses expected for the second half

There will be some big ticket items that will come in the second half of the year: critical illnesses insurance premium, replacement of some furniture and electrical appliances, and of course year-end vacation.

Hopefully, I can keep to my $90k budget for the year.

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