Regular Financial Updates 2019 Q2

Hi guys!

This is Jerry, the author of this blog! I decided to post the total asset I have so that you guys could witness my growth.

This is the second quarter asset report of 2019:

I should have done this in June but I foresee that I will be busy in June so I decided to do it at the end of May.

Before interpreting the numbers, I have to mention that in the previous recorded months I forgot to input a very significant amount which is the Mandatory Provident Fund (MPF). It is a retirement scheme of Hong Kong citizen in which you must deposit 5% of your monthly salary into that account until age of 65. As a result, you can see the graph is a little steeper this quarter.

However, if I do not count the MPF, there aren't many gains in assets. This is very weird for me because my expense records told me that I spent far less than my earnings. After some investigations(haha), I found out that there are two reasons. First, it is the stock market. The market has dropped quite a lot for the past few months. Second, there is a loophole in my expense record. I didn't record the money I gave to my girlfriend. (Yes, I voluntarily gave her money to support her living.) Therefore, I will include this category in my expense and my budget so as to make all the records more accurate.

All in all, my financial goal of 2019 is to make it around 1.1 million. I reached nearly 90% of the goal so far. Do you think I will be successful? Please comment below!

Thank you for your time! See you next time!

May Expenses 2019

Hello, everyone!

I am Jerry, the author of this blog!

Here comes the expenses of May:

Money for parents: $5500
This is the money I gave to my parents every month. If you are a foreigner, you may find it strange. Yet, this is a common practice in Hong Kong or some other Asian countries.

Food& Beverages: $924
I hanged out with my friends and colleagues three times this month, but the amount spent in this category is still low. It is because I counted the expenses towards the entertainment category.

Entertainments: $2275.6
There is no travelling this month so it is much lower than that of last month. However, it is still quite high because after watching Avengers 4, I spent quite a lot on their Marvel games. Also, I bought a new tablet($1199) for playing mobile games as a birthday present for myself.

Transportation: $418.7
This is about my average. Yet, the actual amount will be less since the HK government is now subsidising our transportation fee for around $20-30 dollars per month depending on your amount.

Household products: $741
I bought a lot of personal care products for my family. They probably won't need me to buy again for the next few months.

Miscellaneous: $116
This is the phone bill.

TOTAL: $9975.3
Compared with that last month, the expenses this month is much lower. The saving rate is around 70%. I think this is almost the least amount I can live on. Of course, I can always spend less by downgrading my quality of life (e.g. not meeting with any friends, not buying myself birthday present, not spending on games, etc). However, I find these expenses necessary as life is not just about achieving financial freedom. It is also about finding happiness during the journey.

What about you? How much did you spend in May? Please let me know by commenting below! See you next time!