I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Saturday 21 June 2014

Track your living expenses???

Read? Retirement Income for Life??? (14) - How much is enough for retirement?

Uncle8888 is doing it simply and Excelly with one dedicated bank account for expenses : GIRO, ATM cash withdrawals, NETS, credit cards and ITR i.e. all cash out flow!

Just once a month of less than 15 - 25 mins of effort to download the monthly statement. Copy and paste into Excel worksheet. 

Add remark column and keying remarks for those non regular expenses that can be reduced or cut during bad times. 

The whole idea here is NOT to sweat the small stuffs in tracking expenses.

Later SMOL will come and call him Excel King. LOL!

Explanation to the above chart:

Monthly family expenses for five members (Me and housewife and 3 children)  is group into $500 different band on X-axis.

As an example only for the purpose of explaining this chart. The number used is not his monthly actual expenses.

Below $2,000 : 1 (It only happened once. Probably, in that month we ate most of the meals at home or caught many fish and crabs enough for that month)

$2,001 to $2,500 : 16 (There are 16 months of such expenses in this band since Jan 2001)

$2,501 to $3,000 : 34 (There are 34 months of such expenses in this band since Jan 2001)

$3,001 to $3,500 : 31 (There are 31 months of expenses in this band since Jan 2001)


and so on


  1. Last week, I advised one colic to do this.

    Not doing it. How to know how much is enough to retire early? He is 47 yrs young.

  2. Ah Choo!!!

    Who? Who? Who is talking about me?

    Sniff, sniff.

  3. Another way - the lazy way is to ensure you almost always spend below your means/month. Then tally what's your asset/liability at the of the month. I am at times even lazier, i check only in months.

  4. I don't understand your historical monthly diagram. Can explain? Thks

    1. Included the explanation in the post. Thanks for asking.

  5. what is the useful of such historical diagram?


    1. e.g. one wish to retire @ 55 and plan for his retirement assets to support his living expenses for next 25 yrs till 80.

      One will need to know how much is enough to accumulate as a goal based on past living expenses for the road to Financial Independence.

      Read more How Much is Enough?

  6. Your past living expenses may not be the same @ 55 onwards. At least all or most of your your children should be financially independent. Your needs when not working anymore may be different too.
    In other words expenses change due to "circumstances".
    You may cut down on your expensive hobby or you may even enjoy more

    1. Once cross 60, I will take advantage of Senior Citizen concession and discounts to reduce living cost

      e.g. go to NTUC Fairprice on everyday Tuesday, once a week shopping, travel off peak for transport discount ; eat 1 for 1 lunch promotion, etc

      Go to the library read newspapers.

      Go to HG Mall pangsai. Save on toilet paper and water. LOL!

  7. Ha! Ha!
    Not a bad idea. But be careful of "penny wise pound foolish" ; if you overdone the penny part. By the way,err... on HG MALL thingy - Nothing is more comfortable than home for "private business" for me.


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