Mid year money review


3 min read

I can't believe the first half of 2023 has already gone by - that went by fast!

Given that we're already half way through the year, I wanted to review how I was tracking with my spending and money goals. This will help me understand what I'm doing well and improvements I can make to ensure I can achieve my goals before the end of the year.

Based on my spending dashboard, I can see that I've spent close to 30k this year which is insane. I'll be breaking down that number in today's blog.

How I spent my money πŸ’Έ

Property was my biggest expense this year which added up to a whopping $15,627 - which is honestly a mind boggling amount on something which I can't do much to reduce or cut from my budget.

Expenses that fell in this category include:

  • 🏠 Mortgages & Loans - $11,142

  • 🧹Strata - $3,406.08

  • πŸ’‘ Utilities (Gas, Electricity & Water) - $1078.86

Property Related Expenses

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Family Related Expenses

Family related expenses were my second highest expense at $3,393. These expenses are technically optional, but I want to pay them since I have the financial means to support my parents.

  • πŸ€‘ Mum Spending Money - $1,800

  • 🏠 Family Home Strata - $822

  • 🍽️ Family Outings - $291

  • πŸ’ͺ🏼 Mum's Gym - $240

  • πŸ“±Parent's Mobile Plans - $240


Fun Related Expenses

I spent a lot more than I expected on fun related expenses, mostly from eating out because I love trying out new food. I also bought some clothes from the end of the financial year sales, and invested in a colour consultant for the experience and to refresh my wardrobe.

  • 🍽️ Family Outings - $1,624.58

  • πŸ›οΈ Clothes Shopping - $261.01

  • 🌈 Colour Consultant: $325

  • ✈️ Souvenirs - $52.16

  • πŸ€‘ Other - $24

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Self Care Related Expenses

I've neglected my health in previous years in an attempt to save money, but it's come back to bite me recently in a string of health issues. I've intentionally spent more money to put myself first so that I can catch up on all the lost time and to become a healthier version of myself.

  • πŸ’ͺ🏼 Personal Trainer - $1,500

  • πŸ₯ Health Insurance - $672.06

  • 🩺 Doctor Appointments - $84.24

  • πŸ‘“ Glasses - $111

  • 🧴 Other - $33.75


Everyday Expenses

My everyday expenses weren't too bad at $2,219.09. Most of the money went towards my groceries and I was able to reduce a lot of my train fare since I mostly work from home and only go into the office 1-3 times a month.

  • πŸ›’ Groceries - $1,235.91

  • πŸšƒ Transport - $672.88

  • 🎁 Gifts & Presents - $131.74

  • 🎢 Subscriptions - $88.56


Study & Career Expenses

I always try to upskill myself outside of work through further education in my role, as well as my side hustles.

  • πŸ›’ Business - $231.48

  • πŸšƒ UX Research Course - $888

What. a. year!

This has been a spendy year, and the numbers didn't include the money that I spent for my investment property which was close to $45k since that is a once off expense and the intention of this review is to understand my day to day spending habits.

Overall, I spent 57% of the money I earned, and most of it went towards my "needs". I could cut down of my "wants" but I still want to enjoy the present, so I'm hoping to find ways to increase my sources of income instead.

How is your 2023 spending going so far?

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