after meeting up with my financial advisor, a friend after 3 years of not seeing her, I learnt that I should probably be watching my finances more tightly. If not for the fact that the mortgage is paid for via CPF and that there is rental money coming in from the new place, I would have been in the red. Even though my contribution to my parents and the household has increased by more than threefold, there are certain ways to reduce my spending.
My short term plan for the next 6 months is this:
No weekend travels.
No purchase of unnecessary stuff (electronic gadgets, clothes, bags, etc).
No buying of alcohol (except if it's Absolut collectible)
No eating at cafes/restaurants more than three meals a week.
The good news is, my CPF OA investment is enough to pay my mortage for the next 5 years even if I do not work. I thought the purchase of the new place almost wiped my CPF OA dry. Hidden money is good sometimes.
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