Life just came back to usual in June 2020. Malaysia started its RMCO ( Recovery Movement Control Order) from 10 June 2020 and economic activities are slowly coming back.
Hospital activities started to pick up and my clinic patient load was still about 50-60% of the usual. Thankfully, I was still able to work during the whole period of the MCO in Malaysia.
Even though my income has dropped significantly over the last 4 months, I was actually pumping in more money from savings into my USD portfolio and SGD portfolio. Almost 90% of the investment went into US ETFs and the remaining into Singapore REITs and bonds.
I haven’t started paying my income tax installment yet and I anticipate my saving rate would drop significantly in July and August due to tax conmittment.
Passive Income
I am getting passive income almost every month quite consistently from investments in Singapore REITs/banks. Overall my SGD denominated portfolio is still down 13% from its peak but I am happy to hold for long term.
Exchange rate USD 1:MYR4, SGD 1:MYR3.
| Singapore REITs | MYR8374.74 |
| Singapore stocks | MYR3375.00 |
| Rental Income | MYR1600 |
| USD portfolio | MYR1304.92 |
| Others | MYR370 |
| Total | MYR15024.66 |
June passive income was not bad and usually, all these income would be reinvested into my portfolio except my rental income.
Expenditure
I am not as stingy as you think! I and my family go out occasionally to enjoy a good dinner in a restaurant. We managed to eat more at home for the whole month of June and ordered less packed food.
| Groceries | MYR683.15 |
| Petrol | MYR134.66 |
| Food | MYR804.50 |
| Pet | MYR60 |
| Tuition Fee | MYR1690 |
| Gardener+ Fertilizer | MYR140 |
| Utility | MYR823.05 |
| Mum pocket money | MYR2000 |
| Gift/donation | MYR50 |
| Others | MYR7501 |
| Insurance | MYR4133.47 |
| Total | MYR18019.83 |
| Saving Rate ( after mortgage+Tax) | 43.74% |
This month expenditure has shot up to the roof because of a few reasons,
- I need to pay my secretary a total of MYR 3420 to close my company. Malaysian private hospital doctors have been barred from running private companies.
- It is a tax submission season, I paid MYR2253.2 for my accountants to prepare my tax submission.
- I still need to pay my auditor MYR1727.80 even though my company income has a ZERO income and expenditure for a few years!
- I included my tax commitment into this month’s expenditure, my saving rate is a pathetic 43.74%!
The month of June is my quarterly insurance payment month. Me and my total life, medical card insurance premium were MYR4133.47.
Maxis Postpaid Bill
My Maxis postpaid contract would end in July, I am planning to get a prepaid Celcom or U mobile for me, wife and my mum. Spending almost MYR 2880 per year for phone data is simply too much!
Kids’ education and tuition fees also eat up a portion of my budget. As a Malaysian parent, we are just too worried about our kids’ future education.
We have been saving diligently for our kids’ education fees for years. Sometimes I wonder it might be a good idea for the kids to get student loans when they go to university so that they learn how to manage their finances better.
