Budget Update: October 2019

Oh my, my expenses in October 2019 was in the RM6k, almost RM7k range again. Urk. Business, Utilities & Rent and Insurance & Medical expenses took the bulk of it though. Even after all this time, even knowing how I shouldn’t skimp on these expenses, I still wishfully dream for under-RM3k monthly expenses.

Is that kind of monthly expense realistic, though? To thrive (not merely survive), at least RM4k+ per month is needed no? I know that many companies advertise jobs with starting pay of RM2.2, RM2.5k. And they expect people to be able to ration that out all thoughout the month?

And I guess other people got sick of that unrealistic expectations too, because boy did this tweet go viral:

So sick and tired of all the personal finance advice that accuses Malaysians of not saving enough money when the biggest reason is actually freaking low wages

— Suraya Zainudin (@surayaror) October 29, 2019

Yes, YES, we *could* live on that amount. If we *only* spend on what we need to spend on to just live, we could.

BUT that would mean a living a life devoid of any entertainment, any leisure, any trips home to see the family, any activities with friends, any personal fulfilment, any meaning. How DARE they judge every single bubble tea, every nice meal we have, when that could be the only thing that makes life tolerable for us.

I’m going to share this article again: 3 Ways to Get A High Salary in Malaysia

Budget Update: September 2019

I spent a little under RM6k in September 2019, with half of that going to Medical and Rent & Utilities categories. I’ll expand a bit more about them in the Yay and Nay sections below.

Now, let’s talk about how dope personal finance is, as a topic. I can’t get enough of it, I’m still obsessed with it. There’s always something that challenges my thinking.

For example, I have been a ‘buy experiences, not things’ practitioner. Been so for years. But the tweet below made me seriously evaluate my approach.

Be careful to not take ’Buy experiences, not things’ too literally.

Prized experiences, like travel, can be just as empty as buying a material item.

For me, clothes ARE experiences. I value the way I feel in them. And I get to relive the same experience over & over for years.

— The Luxe Strategist (@luxe_strategist) September 20, 2019

Sometimes I forget how different people value different things. Who am I to decide or judge how you interpret happiness?

I think it’s time to retire ‘buy experiences, not things’ from my personal finance approach. Instead, I will use the phrase ‘intentional spending’ instead, the opposite of ‘mindless spending’. I want to be more mindful of what I spend on, regardless whether they are experiences or things.

(Although, it’s fair to note here that research did say that spending on experiences, not things usually makes people happier. So don’t use this as an excuse to splurge or anything.)

And thus, I find myself buying non-thrifted art for the first time. I’ve never allowed this purchase for myself. I’ve never bought something beautiful for the sake of it being beautiful. Whatever pretty knick-knacks I have, must also be practical: think boxes, containers, pillows, candles.

View this post on Instagram

Fell HARD for @lynartelier ‘s beach-inspired pieces 🏖️ Look at the details!! So happy I took this baby home #thisonesparksjoy #beachart #oceanart #oceanwaves #malaysianartist

A post shared by Suraya Zainudin (@surayaror) on Sep 30, 2019 at 3:16am PDT

And you know what? This art piece does make me happy. I don’t regret the purchase.

Any of you hold back against collecting art – however you define it – because of the ‘buy experiences, not things’ approach?

Budget Update: July 2019

I spent over RM7k in July 2019. It’s an okay amount, considering I’m super blessed with work at the moment.

Let’s talk about work. Aside from business writing work – my main source of income outside of Ringgit Oh Ringgit – I’ve seen a noticeable increase in sponsored post inquiries from potential clients. Is this a side effect from higher focus by the government to improve the nation’s financial literacy?

If yes, and I do think so, then woah it’s in your benefit to jump into the personal finance blogging space. Go check out my 6 Personal Finance Blog Ideas, Absolutely Free for You to Take article.

Budget Update: June 2019

What a memorable month. More about that under ‘Yay of the month’ section below.

For the past few months, I’ve battled my ‘solopreneur’ identity quite a bit. I feel like I should take advantage of this momentum I’m having and expand, get a team under the Ringgit Oh Ringgit brand. I thought of hiring a team of writers and video editors, create more content.

But slowly, through personal reflection, I figured out that (a) I’m really happy being a one-person team, (2) I have no desire to be the boss of anybody, and (c) having a team would require an office, and I worked so hard so I didn’t have to *go* to an office every day.

Maybe I’ll change my mind in the future. Maybe that’ll still happen, out of necessity or change of heart. But for now, I’m loving the way I work. I can still outsource if the workload gets too much. I can still collaborate with other people to create content that I can’t personally create.

Any of you consider yourself solopreneurs? Do you plan on staying that way or planning to expand? Let me know in the comments section.

Budget Update: April 2019

In April 2019, I spent just under RM6k, inclusive of Zakat payment. That’s alright, I guess.

Okay let’s talk about something else. I like brainstorming for different ways to make money – regular readers know that. Recently, I thought of two more ways in addition to what I’m already doing now.

1. Coaching services – Not for financial planning, but for financial organisation. I’m good at tracking my expenses, putting them neatly in categories, and reviewing them regularly to look for patterns. It’s a service I can sell on an individual or group basis.
2. Personal finance retreat – Think of it like yoga retreat but for financial mindset. I figure this is a good way to get a fully-paid retreat for myself while helping others at the same time.

Which one would you join?

Again, both are in the consideration stage, nothing’s concrete yet, they just sound fun and financially worthwhile to do. I’d probably give early access and get beta testers from email subscribers, so join the mailing list if you’re interested.

Budget Update: March 2019

My expenses in March 2019 scared me. The number was so high!

The top 5 expenses in March 2019 were Business, Dates/Travel, Utilities & Rent, Misc Needs and Groceries. Together, those made up 82% of last month’s expenses.