It’s time to review my financial status as we are counting down to 2021.

I started to track my finance since I’ve started working in 2014. This year is a bit special because I’ve managed to track my expenses for the entire year! I’ve tried a few different apps and so far “Money Manager Expense & Budget” best suits my usage.

Expenses in 2020

In 2020, I spent less than what I’ve spent in 2019… at least 20% lesser than the previous year. Thanks for COVID-19, my travel expenses drop drastically since we were not able to travel. I was lucky… as I traveled to S.Korea (and come back safely) before the pandemic hits its worst point in March this year.

Expenses in 2020

Recurring Bills (34.3%)

Recurring bills remain to be the highest for the past few years as it includes payments for my insurance, tax, phone bill, household bill and other misc subscriptions. I don’t think I can reduce anything from this category unless I decided to stop my spotify and netflix subscription…

Pet (17.6%)

This is a new category as I’ve gotten a puppy this year. I’ve been wanting to get one for the longest and my parents finally give the green light. Getting a puppy is something that I’m glad that I’ve done. The kind of joy that he has brought to my entire family is completely unexplainable.

Anyway, the expenses in this category will probably be reduced next year. The food, grooming and other misc items are not as expensive as the initial payment I’ve to make as I bought him from a pet shop.

Household (13.1%)

I’ve been paying for my dad’s petrol and season parking bills for the past year as a way to contribute to the household. These are the major spending in this category. There’s no way to reduce them unless my dad decides to retire in 2021 (not possible yeah).

Gift (9.9%)

I’m pretty sure it will be reduced next year unless someone decides to play punk again. This is not supposed to be ranked so high in my annual expenses as people who know me probably know that I’m not a gift person. Meh.

Shopping (7.8%)

This post is typed on my new computer… so yeah… I think I’ve spent more in this category this year due to the pandemic but nevertheless, I’m happy with most of my purchase.

My goal is to reduce this category as I’m trying to cut down the number of items I owned in the upcoming year. To make this successful, I will have to shop less as well.

Eating Out (6.1%)

On average, I spent like 200+ bucks per month for dining. I believe it’s much lesser than what I usually would spend on food. I’m very lucky because my mom cooks dinner at home almost everyday.

I hope this can be maintained for the coming year!

Travel (4%)

I traveled to S.Korea in February before the pandemic became the worst in March 2020. Doubt that we will be traveling next year but we might be able to use the money budgeted for this category for other leisure uses (e.g staycation).

Charity (2.5%)

Giving is important… I’m not someone who will gift that often but I do believe we should be giving back to the society for people who needs more help than we do.

Transportation (2%)

This cateogry includes both public and private transportation. It’s normal to spend less in this category since we have been working from home most of the time.

Others (~3%)

There are also other categories that are too insignificant to be shown in the pie chart. This includes the bill payment that I’ve made for my mother for her regular polyclinic appointments, games that I’ve purchased (mostly not played yet…) and certificate renewal.

These categories will most likely reduce next year… though I think it doesn’t impact much on my overall expenses.

Net Worth in 2020

Despite all the unexpected expenses this year, I was able to hit my financial goal before I reach 31 years old.

In terms of savings, I managed to save slighly more than 50% of my annual income. I should be able to save more than 50% but my bonus is like shit this year. Meh.

Emergency Cash

Despite the shitty bonus, I was able to increase my emergency cash by around 20% as compared to last year. That’s something I should be happy about. I’ve also deposit some extra cash in EasyEarn to get better interests.


I’ve expanded my investment portfolio in 2020 by doubling my monthly investment value. So far, the returns have been really steady (around 20-25%) for the past 6 years. Apart from that, I’ve earned some extra cash from my investment in cryptocurrency too!


Overall, I’m very satisfied that I’ve hit my first milestone at 30 years old.

In days like this I’m thankful that I have always been quite discipline when it comes to money. I don’t have to worry about taking a break from a corporate job.

Financial Goals in 2021

I aim to reach my next financial milestone in 2025. Till then… what I need to do minimally for next year is:

  • Increase net worth by at least 20%
  • Increase cash savings/emergency cash by at least 10%
  • Reduce my unnecessary expenses by 10%

Hope I will be hardworking enough to do this review annually :).