How I spent 6.7k in Feb 😱

2 min read

February has been an expensive month, where despite earning 13% more than last month, I spent 37% more 😱

According to my money dashboard, over 80% of the money I spent were on "needs". The most expensive category were the costs associated with my property, which made up close to 60% of all my spending.

With rising costs of living, inflating costs and increased interest rates, I can definitely feel the pain! 😣

How I spent my money 💸

Property was my biggest expense this month of around $4000.

Expenses that fell in this category include:

🏠 Mortgage - $1,820
🛠️ Strata - $1,503.08
🚧 Council - $291
💧 Water - $189.20
💡 Utilities - $108.92
🌐 Internet - $65.32

Property Related Expenses

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Family Related Expenses

Family related expenses also costed me around $800 this month.

🏠 Home Strata - $411
💸 Mum's Spending - $400
👟 Mum's Gym - $40

Other Expenses

Other expenses I spent money on this month:

📖 UX Research Course - $888
🩺 Insurance, Personal Training & Glasses - $463.01
🛒 Groceries - $220.50
🍽️ Eating Out - $152
🛍️ Shopping - $54

💖 Personal Care - $26
✈️ Holiday & Travel - $24.16
🎵 Subscriptions - $15
💸 Business Expenses - $0.58

Although it has been a super spendy month, thankfully these expenses were already accounted for in my budget so they weren't too much of a surprise.

There were things that caught me off guard though such as the increase in my strata fees (from $1,039 to $1,503) 🥲 as well as signing up for a UX Research Course to upskill in my new job.

Continue using my money dashboard to keep tracking my income, expenses and savings to ensure I am in control of my money

Reflections for next month 💭

Keep tracking

Prep my own food

I ate out a lot more this month since I worked less from home and had more coffees than I needed - prioritise making my own meals!

Negotiate fees

Make an action to negotiate my mortgage interest rate and expenses to potentially reduce ongoing costs and save.

FYI

Strata Fees: A quarterly expense that is paid to a third party to manage the apartment and shared facilities, including cleaning and addressing issues
Council Fees: A quarterly expense that is paid to mange the local area of the property, such as infrastructure and local events
Mortgage: A loan taken out from a bank to borrow money to purchase a property

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