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 I am grateful for the support but I excluded them in my tracking as these might be withdrawn in the future.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.
Discover more from Towards Financial Independence
Subscribe to get the latest posts to your email.