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Tracking my expenditure

Since my university days, I have been tracking my expenditure by writing down my expenses on a daily basis into a notebook. At the end of each month, I will tabulate my monthly expenditure, to see whether I have spent beyond my monthly allowance from my parent. If I burst my budget for the month, I will consciously cut back on my spending in the next month.

This has become a habit till today. I find this practice helpful in making sure that I do not spend beyond my budget set for each month. With this habit, I also do not spend away my bonuses when such lump sum payout flows into my savings account -- as there is no reason for me to spend more that month since I have been living within my budget for the past months. 

As part of my effort to reduce expenditure, I have been eating only at hawker centres, unless it was a gathering with friends or special occasion. As such, my expenditure on food has been reduced. I also terminated my integrated shield plan for medical expenditure (as I think MediShield Life is sufficient to meet my needs), and recently received the refund from the insurance company.

I shall continue to find ways to reduce my expenditure!

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