My Passive Income (Month of July 11)

CPF(OA): $238 (from interest and dividends)
Cash: $1771 (from dividends and other passive incomes)
Total: $2009
Target: $3200
Achievement: 62.8%

There are no changes in my passive income 1 and 2.

For passive income 3, there are no changes too.

For passive income 4, there is no changes. However since it is still in the building stage, I will be expecting it to go up and down. In my post "Forget about achieving Financial Freedom if you do not have perseverance or refuse to learn.", I have mentioned that it will take time and effort to build up passive income.

Getting more by having less

In my post, “Learning points from tidying my house”, I have mentioned that I have gotten rid of many unwanted stuff in my house. I give, sell or throw those things that have no more value to me rather than keeping them in my storeroom. Somehow I have a “lighter” feeling in my house after doing that.

So how do I meant by getting more from having less? Well by owning fewer things, I can focus more than those things that I have. For example, I used to have two laptops in my house, and I can only use one at time. After, selling one recently, I can now utilize more on the reminding laptop. I have quite happy being able to utilize most of my necessities now. Having extra things laying around don’t make me feel good.

In financial sense, it is not a good thing to own extra necessities. These things mostly will depreciate over the time and will become zero value eventually. In Buddhism, there is a saying that “form is emptiness, emptiness is form and I am starting to appreciate this saying.

Learning points from tidying my house

Recently I had taken a few day of leave to tidy up my house. It has been an every three months routine for me, as I am the type of person who does not want my house to look very messy. This also serves an opportunity for me to consolidate and remove all the rubbish that has been around for three months. For this round, it had been very amazing that I have thrown 8 bags of rubbish into the dustbin.

During the tidy up, I realized that I have some unwanted items that have some monetary value. For example, old digital camera, wireless router etc. For these items, I hope try to sell them by creating some posts on those buy/sell forums. If I couldn’t sell away these items, I will just give them away for free.

Things that I have learnt when tidying up my house:

1)Don’t collect rubbish. I have learnt to quickly identify things that are going to become rubbish. Once I have classified them as rubbish, I will immediate throw them away.

2)Put all things in proper place. By doing so will allow me to find thing easily. Imagine that you cannot find the item that you have, you may end up wasting money to buy the item again.

3)Quickly sell away unwanted things as soon as possible. I felt some sort of regrets for not selling unwanted things earlier so as to fetch a higher price.

4)Don’t bring back home unnecessary things even though these things are free. A lot of things that I had thrown are things that are given to me for free. For example goodies bags that are given during carnivals. Personally I feel that these items are not free as I have wasted a lot of time to dispose them.

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.

My Passive Income (Month of June 11)

CPF(OA): $236 (from interest and dividends)
Cash: $1771 (from dividends and other passive incomes)
Total: $2007
Target: $3200
Achievement: 62.7%

There are no changes in my passive income 1 and 2.

For passive income 3, there are no changes too.

For passive income 4, there is decrease of $3. However since it is still in the building stage, I will be expecting it to go up and down. In my post "Forget about achieving Financial Freedom if you do not have perseverance or refuse to learn.", I have mentioned that it will take time and effort to build up passive income.