Gorgeous, Sexy & Rich

Budget Spreadsheet

This is a simple Budget Spreadsheet. Like in all budgets, simple is best.  The most important part of the budget spreadsheet is the WILLPOWER to save, and then to invest. This is not written anywhere but in your mind and heart.

I will be writing more about Money in the coming months. If you want to receive news from me, please email me or join the mailing list.

Notes:

1. The most important part is B1- saving for your financial independence.  To do this, I would advise setting aside a portion of your salary every month.  Sign-up for GIRO facility from the bank, and GIRO 10% of your salary every month to another account.  For the other account, call it your ‘Freedom Account’.  Whatever you do, never ever change that GIRO instruction.  When the 10% accumulates sufficiently, you must learn to invest.

Set the date of the GIRO to be on your PAYDAY. Not one day later, and certainly not at the end of the month.  First principle of Life Saving – Save Yourself. After you have done that, then you deal with the rest.

2.  If you can afford more than 10%, then do more than 10%.

3.  When you receive a bonus, Pay into your Freedom Account FIRST before you use the bonus.  Well, are you serious about being financially independent?  Yes?  Then do it.  Forget about treating yourself.  This is the treat!  Freedom!  Every cent in there is another cent closer to saying ‘Goodbye’ to your boss and having to be chained to your job.

4.  If your expenses are higher than your income, the options are:

a.  Get higher income

b.  Tighten expenses

c.   Get a windfall

I think (b) is the most useful discipline.  (a) without (b) is not useful.  Right?  So get (b) into order, and then work on (a).  For (c), it is not buying 4-D or Pools.  (I have never ever gambled and never ever will.)

p/s:  If you really earn less than you spend, have you considered ‘Eat less chicken, more tofu, less cinema, more time with family, less shopping, more walking in Singapore’s free parks … it can be done… and no designer coffee or limit it… coffee from kopi-tiam shop is good enough… I do not believe in designer coffee… a little luxury every day makes one big fat hole at the end of the month… more about these thoughts in my emails to come… see you then!’