Monthly Financial Update Nov 20

Money never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one. –Benjamin Franklin

I make some changes to my monthly financial calculation. Before this, the income I receive was my gross income before taxes, I made the calculation ( my saving rate) based on my income minus taxes and all other expenditures, therefore some months might have higher saving rates because I did not need to pay my CP500 ( tax installment- I only pay CP500 every 2 month).

Starting from this month, I would calculate my saving rate based on my net income after deducting my taxes. My taxes ( CP500 tax installment) would be divided into two equal amount and deducted from my monthly income.

Income

It is the month for my Singapore REITS to pay me distribution again. I got a total of about MYR11K from my REITs holdings. Hopefully, once the pandemic is over and businesses pick up in Singapore, I would get more money from my REITs.

I managed to get another MYR150 from TransferWise affiliate because another 3 readers signed up through my link.

And yes, I got a fat cheque of SGD350 ( MYR 1050) from writing a sponsored post in my blog!

I have started to put up Google Adsense advertisement on my blog but experiences tell me Adsense advertisement income sucks! Back in 2005 when I started PassPACES.com, the income was good and I used to make USD100 every month but I notice it is getting tougher to make any decent income from Google Adsense anymore.

My friend recommended me Accesstrade advertisement and I have put up some links as well to my site. You can join the community if you have any website/blog/social media by clicking the banner below and get MYR5.

Expenditure

To update my readers about my donation to buy PPEs to healthcare workers in October , my friend managed to collect a total of MYR56k and donated 6 sets of PAPR and 10800 pieces of KN 95 disposable respirators to Queen Elizabeth Hospital. We also managed to send KN95 disposable respirators to a few dialysis centres in Sabah.

A total of MYR600 was given as donation to my relatives. And yes, I paid a total of MYR1890 ( I forgot to pay for the last one year) as management fee for the apartment I rented out. I usually pay my rental properties half a year once.

My saving rate for this month is 70.1% after adjusting the calculation method.

Conclusion

I spent about 65% of my income into investment, almost all in USD-denominated investment, some into SGD denominated investment and a small portion to my EPF.

I also maximize my SSPN contribution because you can claim up to MYR8000 for tax rebate for SSPN contribution.