A new budget for 2020

Tomorrow is Jan 1, 2020, and it’s about time to work out a new budget.

2019 budget looks like this

1. Food/Groceries/Medical: $600-$800

2. Home/Utilities/Communication: $350-$500

3. Transport: $300

4. Education: $200

5. Insurance: $750

6. Parents: $500

7. Vacation: $500

TOTAL: $3200-3550 (excluding wife’s spending money, church giving, savings and investments)

Everything should stay relatively the same except:

#1 Food/Groceries: $700-$900 ($100 increase)

With the kids fast growing up, their demand for food increases as well. I fear the day they eat us out of our house! Wife is constantly on the look out for the best deals, and I trust she can stretch the grocery dollar. If she has to go to 10 shops to buy 10 items instead of buying all 10 items at one place just to save money, she gladly does it. She spares no effort in sniffing out the best deal, and all that running from one store to another she considers exercise. Of course, there is on-line grocery shopping that she taps into as well.

#4: Education $700 ($500 increase)

Kid will soon attend an independent school and the school fees is very high compared to regular schools … $300 per month at least. And then there are extra fees for different activities. Wife said I should have considered the school fees before encouraging the kid to apply to this school since every school is a good school. I’m not sure if I believe government propaganda entirely, but I believe it is a good opportunity for the kid to be stretched academically and to rub shoulders with some of the brightest kids in the country. Anyway, whatever’s best for the kid I’ll glad fund it.

So 2020 budget looks like this

1. Food/Groceries/Medical: $700-$900

2. Home/Utilities/Communication: $350-$500

3. Transport: $300

4. Education: $700

5. Insurance: $750

6. Parents: $500

7. Vacation: $500

TOTAL: $3800-4150 (excluding wife’s spending money, church giving, savings and investments)

Beginning Jan 1 2020, I shall endeavour to track our family expenses (items 1 to 4) on the app Seedly. It will take a lot of discipline to include everything from kopiC to fishball noodles to SIA tickets, and to do this every single day for 365 days. Will see how it goes from Jan 1.

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