Personal Finance
May 2020 Monthly Expenses Update
By Mr And Mrs Budget  •  June 5, 2020

At the end of every month, Mrs Budget and I will reconcile our monthly expenses and see what are we spending on, and where we can optimise or cut down our expenses.

We subscribe to the believe that every penny saved is a penny earned – sometimes its easier to save S$100, than to earn S$100, both of which results in the same net worth increase.

In May, here’s what Mr Budget spent on.

Expenses May
Meals $286.09
Entertainment $65.49
Groceries / Home $202.15
Shopping / Cloths $7.50
Phone Bill $40.00
Income Tax $206.22
Hair Cut $26.00
Singapore Mortgage $1,113.84
Others $644.33

Mr Budget’s total expenditure for May is at $2,591.62, a further reduction as compared to last month’s expenditure of $2,876.07.

Total essential expenses add up to only S$601.23 (meals, entertainment, groceries, phone bill).

If you strip it down further, bulk of the payment goes into mortgage payments and income tax. There was also a $644.33 expenses under the “Others” category made for a miles redemption program as well as a wedding angpao for a friend.

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By Mr And Mrs Budget
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