Make Ends Meet!
The worst nightmare have arrived when I quitted my job with IBM.
The most embrassessing moment is to face my financial debts nakely!Â
I have to sit down and review it honestly.
This is the time. I am no way to hide anymore! I am corner and I have to face it like a man.
A total of about $3500 is my monthly fixed expense!Â
I told CW, my wife and go through her fixed expense too! In total, our expenses are about $5000. Since I got no saving, our total saving (ok, her saving) with her income can only let us last for 1 year!Â
So, I need a plan and make some decision! Some really quick and drastic decision!
- Spoke to my aunty that I cannot affort to give her any pocket money.
- Spoke to my mum that I need to reduce her monthly pocket money. (which is I’ll not be giving her, but Toa Payoh rental will be hers 100%)
- Sold our Land-banking in Canada (Thank god managed to break even)
- Take insurance premium holidays for my own insurance.
- Mum’s and Marina’s insurance untouched!
- Watch out our utility expense
- Watch out our meals expense
- Watch our our other expenses
- Recycle our soap, water…etc
- Bring our water out for lunch and reframe from soft-drinks
- Cut down on church weekly contribution
- Change my car to a van and run on diesel
With all these measures, We managed to bring our expense down to $3000+