Each month is an opportunity to be closer to financial independence::December 2018.
The last month of 2018 ended on a good note for us. We limited our monthly expenses to around Rs. 50K and increase our net assets by Rs. 2.7L.
We also started to track our expense into categories. The major categories are listed below:
- Fixed expenses(Rent and utility bills ex. electricity, mobile, broadband, d2h, Netflix etc).
- Essential expenses(Groceries, commute, EMIs, grooming etc).
- Infrequent expenses (Clothes, travel, medical etc.) once in a quarter or 6 months.
- Entertainment expenses(dining out, ordering food, movie tickets, partying etc). These are expenses with the highest scope of spend cut-down.
- Apart from the above 4 broad categories, it’s possible to have other one-time expenses. We didn’t have any in December.
Below pie-chart depicts category-wise expenses in December:
Spends in the first three categories was within the targets. However, spends on F&Bs and entertainment were significantly higher(18%) as we enjoyed the time off during Christmas and year-end break.
While there was no respite from the stock markets, mutual funds had a slight recovery as compared to November. We have started to take a closer look at our current asset allocation and risk appetite. This will help us to diversify our portfolio in line with our retirement plan. I’ll share more on this in the future.
No comments:
Post a Comment