Sunday 23 December 2018

Getting my first pay - How am I splitting it up?

I received my first full pay recently and although not a huge sum, I have allocated portions of it to different areas.

I have my pay credited into a POSB account which is linked to my DBS multiplier to allow me to earn a higher interest.

For my pay, I have presented it in a percentage form where I used 100% as the take home pay after CPF deduction.

Here it is:

I am happy to finally be able to give some allowances to my mum, although not much but at least it is something that I always wanted to give.

I recently also purchased a personal accident plan. My life insurance is still being paid by my mum but I hope to take it over from her soon.

For food, I meal prep my meals to work for at least 2-3 days per week so my expenditure on food is not that high as dinner is usually at my grandma's place. So my expenses for food is not so high.

Transport is also relatively okay as I do not take Grab or taxis and my workplace is rather near my home with a shuttle bus service provided.

Other expenses include christmas gifts for my colleagues and friends and also other miscellaneous stuff.

Other than this, I hope to be more precise with my recording of expenses even though I am rather lazy to do so. I hope to be more clear so that I can see where my money is going.

With this, here's wishing everyone a Merry Christmas!

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  1. Good job on saving almost half of your net salary. That should be close to 60% including CPF, impressive!

  2. The feeling of getting your first full pay feels good, not to forget the cost savings you achieve from travel and food expenses!

    For recording of expenses, I use Expense Manager to also record my cash inflows! (Link is at ) . For expenses types, just have a few groups such as food, travel, insurance, family allowance etc. keeping it simple until you wish to add more groups.

    Merry Christmas to you too!

  3. I still remember the excitement of my first paycheck. I wished I had started tracking/budgeting at the start :)

    Merry X'mas!