Budget Update July 2024 – Getting a Financial Planner
Welcome to another edition of my monthly budget updates, where I break down my expenses by category and share the highlights and lowlights of the month.
So how was your July? Mine was full of activities: I frequently met up with family, met some friends, attended some classes (kursus jenazah, Japanese language class and I have upcoming rollerblading class). I also have a couple of trips to look forward to, so I’m happy.
But something weighing on my mind all July (and really for the past few years) is how much I really need to do portfolio rebalancing. My assets and investments are very much high risk and with Baby Mika in the picture, I need to reduce the risk.
I much prefer DIY financial planning (that’s why I took CFP – Certificate in Financial Planning – so I can do it myself) but I think I can benefit from expert input, just someone to point out blind spots if any. So, I started the process of hiring a financial planner.
Can I say that it’s a scary process, even for me?? I mean, I know they have Code of Ethics to abide by and every conversation and detail is T&C (if not, I can sue!), but I feel what I feel. I’ll fight through it as much as I can though.
Beyond the four-figure fee, I get why people stop themselves from hiring financial planners. It's nerve-wracking to be financially transparent and show everything to someone
— Suraya: bestselling Bergaji & Pokai book (@surayaror) July 30, 2024
Even I find it hard. My defenses are high. I'm only willing to show parts of my finances, not all of it
Wish me luck through the process, may I get to liquidate some assets at a good price. Now let’s get on to the budget part.
Budget Update: July 2024
In July 2024, I spent RM19,524.38. The top 3 top expenses were:
- Dates/Travel (RM10,881.20) – Mostly flight tix
- Business (RM2,092.57) – Testing paid ads
- Groceries (RM1,440.90) – A bit high but fridge is well stocked, so
Cumulatively, the top 3 expenses make up 75% of my total July 2024 expenses.
(My belief is, if you want to save money, trim first from the top 3 expenses rather than cut out a few ringgits from other already-low expenses)
My Spending Breakdown in July 2024
Here’s what I spent on in the whole month of July 2024, in their respective categories and from highest to lowest amount:
Yay of the Month:
#1 – Bought some more flight tickets…
Bought flight tickets for two consecutive months in a row… I knew I spent a fair bit on travel this year but didn’t realise Dates/Travel is already my No 1 top expenses so far this year. I mean, 37% of EVERYTHING I spent between Jan 2024 – Jul 2024 is on travel…
Mixed feelings tbh. I’m happy and don’t regret it but why still feel guilty.
Pictured: my top 5 expenses between Jan 2024 – Jul 2024
#2 – Got my seats upgraded for free!
I may have spent a lot on travel, but I did save money!
I was contemplating whether I should pay RM2.8k extra for bassinet seats for one of my upcoming flight but managed to get the seats for free! So happy with this yayyy!
I saved RM2.8k 😭 It only took one google search and a chat with agent
— Suraya: bestselling Bergaji & Pokai book (@surayaror) July 11, 2024
Thank you for the amazing service Salma Ehab from @etihad !! https://t.co/TnMhmNwdK7 pic.twitter.com/DkKnaoefbP
#3 – Testing paid ads
Enlisted the help of a professional to setup landing page and paid ads to sell my How to Buy Your Own Insurance course.
This is something I’ve wanted to try for a while so I’m happy I’m finally getting around to it.
So far, I got a few sales but can be optimised further. Going to test test and test some more in August and beyond.
#4 – Received my DNA test results
A couple of months ago, I took a DNA test and the results finally came out! I learned my:
- 128 health traits across 15 categories,
- ancestral insights tracing back 200,000 years, and
- comprehensive cancer traits
My health traits results were cool but my ancestral results were surprising. I knew I’m not racially Malay (I consider myself cultural Malay) but I didn’t part of my DNA came from *that* part of the world. Maybe one day I’ll share it.
It was also good to know which cancer I’m more likely to have due to my genetics. I might increase my coverage…
Obligatory referral code: Use code ‘Suraya10’ to get 10% off
#5 – Misc
Read 0 books 🙁
Bought for myself:
- Headspa session
- 2 books
- Some Uniqlo stuff
Nay of the Month:
#1 – People STOLE my course
I found someone STEALING my How to Buy Your Own Damn Insurance course and SELLING it without my consent. Contacted them and this is their response in its entirety 🙂
#2 – My bunion started hurting
It’s not the worst ailment in the world and I don’t want to complain, but the pain is annoying…
Also I can’t wear most of my shoes and have to go shoe-shopping. I hate shoe-shopping.
Things to Look Forward to:
- Planning my trips! One in September, another in December.
- Prioritising and enjoying free activities
Well, that was my July 2024. How was yours? What’s your yay of the month, nay of the month, and something you’re looking forward to? Tell me in the comments section 🙂
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To read about my past monthly budget update, click here. Graphs are taken from my expense-tracking app Money Lover (find out your budgeting style)
