Saturday, July 9, 2011

My Half Year Financial Report for 2011 (Jan 11 to Jun 11)

Half a year of 2011 is over, and now it will be a good time to generate my first half financial report for 2011 (Jan 11 to Jun 11).

My Monthly Expenses:

For my monthly expenses, there are no changes as compared to Dec 10. I always keep my expenses as low as possible by not spending money on the things that I will not need. For this part, I will give myself an "A" grade.

My Passive Incomes:

For my passive incomes, I have managed to increase it from $1953 (Dec 10) to $2007 (Dec 11). That is about $54 increase per month. In my New Year resolution for 2011, I have set two milestones for my journey towards financial freedom. The first one is to achieve a total passive income of $2200 by end of June 11 and the second one is to achieve a total passive income of $2400 by end of Dec 11. Though I have missed my first target, I will still give myself a "B" grade on this portion.

My journey towards financial freedom:

I am getting closer to achieve my financial freedom. I will need to generate an additional passive income of $1193 per month (Total Expenses of $3200 - Total Passive incomes of $2007) in order to achieve my aim.

My Assets:

These are the assets that I have. I am proud to say that I do not have any liability.

My Debts:
My only debt is from the housing loan. Based on my calculation, the current total debt is about $22k. The calculation is based on using the outstanding housing loan amount minus away my total family CPF OA amount.

1 comment: said...

I would like to do a link exchange with you. Drop me an email if you are interested.

Have you started your journey towards financial freedom?