At the begining of the year, i made a pact with myself. I told myself that i would try to save and invest at least 30% of my monthly income. Last month i managed to save and invest 55% of my salary. This is inspite of the fact that my rental comes close to 25% of my monthly income. The thumb rule is that, rent should never exceed 33% of your income.
As of now, i just got my rental agreement renewed for another year. But the best thing is that my landlady is an extremely sweet lady. She is a completely hassle free person. As someone who has dealt with many houseowners in Singapore, i should admit that my current land lady is a godsend. Especially when getting a rented house for a bachelor is a big issue even here in Singapore.
Anyway, coming back to savings and investing, even though staying alone has meant an increase in monthly rentals and expenditure, iam able to save more than what i used to when i was staying with my friend’s family for more than 4 years. Amazed? Ya, even i was.
Staying alone means that i spend my weekends at home. Yup, earlier i used to wait for weekends to come so that i can hit the pubs/disco every friday and saturday nights. Pay for overpriced drinks, food. Wine and dine with friends at expensive places.
My schedule for the weekend goes something like this. Friday nights, i generally come back home after work. Do all my laundry. Have an early dinner, read up on books and go to sleep early, so as to enjoy a nice 8-10 hours sleep. Saturday mornings, i have a glass of juice and hit the gym, work out for at least 2 hours. Saturdays are reserved for some heavy duty weight training (dont worry, i dont have a body to show off anyway). Enjoy a nice steam bath and shower at the gym and then head home (if iam not meeting up with anyone or shop for groceries). Have lunch, and have a nice saturday afternoon siesta.
Saturday evenings, i sometimes go out for a movie on my own or watch the DVDs that i rent from the library. Sundays are spent cleaning home, ironing my clothes for the whole week and cooking. Which brings me to the end of my weekend. Other than food and the bus/train fare i spend to commute to the gym, i hardly spend anything on the weekend. This allows me to control my unwanted spendings which could occur if i was to meet up with friends or go pubbing / clubbing or restaurant hopping.
I love the solitude of my home. The calmness, the freedom to read, listen to music, watch movies or simply laze around and sleep. I seriously believe in spending time with myself. It gives me time to reflect on things that i have done and plan on things that i want to do the next week and beyond. I dont socialising a lot anyway. So, i have a very limited circle of friends with whom am very close.
I will start writing a few articles on Personal Finance henceforth. How i tackle my expenditures and how i control my urge to splurge. This article was about the ‘Zero expenditure weekend’. Next time i will mention as to how i tackle my urge to go on unnecessary holidays, resisting the urge to take a cab and instead take a bus/train, limiting my shopping, eating out etc.