How To Track Your Expenses

How To Track Your Expenses?

How to Track Your Expenses

Expense tracking is something I often write about on journeywithmoney. I believe that tracking your expenses helps you gain perspective on your life, so you can determine whether the way you manage your expenses is true to your priorities and what’s important to you.

How To Track Your Expenses
How To Track Your Expenses. You won’t want this to happen to you.

How to Track Your Expenses (Getting into it)

Tracking your expenses is a pretty simple practice (here’s a Expenses Log that’ll let you track a week). Each day, you jot down how you spent your money. Once you have about a week’s worth of data, you look it over.
In looking over your expenses log, we recommends asking yourself a few things:

  • What do you like about your expenses? Make sure you celebrate your wins, and the things you’re doing right already, instead of just picking apart all of the ways that you could do better.
  • What do you want to spend more of?
  • What do you want to spend less of?

Different people will want to spend on different things. For example, depending on your situation, you may be interested in putting more of your money into:

  • Gifts for your family;
  • Healthy food choices;
  • Learning new things;
  • Donating to charity;
  • Investing (You could do a REV with the money you have).

You don’t have to make a pie chart and account for everything (we hate that), but you’ll want to look out for whether you’re spending your money intentionally, in ways that are important to you.

Tracking your expenses takes less time and attention than you might think. It takes just a few seconds to jot down what you spent on, and once you settle into the practice, you can update your expense tracking sheet every night, recalling what you just did.

How To Track Your Expenses Singapore
How To Track Your Expenses

Why You Should Track Your Expenses

There are countless benefits to tracking your expenses. Here are just a few of them:

  • You can see how much you actually spend. We tend to underestimate how much we spend by a significant margin. A expense log lets you see, at a glance, how much you truly spend.
  • You can separate from the stories you tell yourself. We tend to tell ourselves things such as that we have no money, that we spend very little money on coffee, and that we spend too little on taking care of ourselves. Tracking your expense lets you verify if these stories are actually true.
  • You discover what your priorities actually are. It’s one thing to believe that something is important to you; it’s another to invest money in what you consider to be important. Keeping a expense log lets you see how much you’re spending on things you deeply value, and how much you spend on things that are not important
  • It makes you feels richer. Much like how keeping a food log leads you to eat less, keeping a expense log lets you bring greater awareness to how you’re spending your money. In practice, this feels great: meaningful expenses like spending money on family feel more meaningful, because you’re able to reflect on their true value.
  • A expense log can lead to real change. Noticing that you spend $500 each month just on coffee lead you to probably find a cheaper alternative to a drink. Noticing that you spend just too little on family may lead you to reach out to them more often. Noticing that you have more surplus than you think you do may lead you to be encouraged in your financial journey
How To Track Your Expenses Im ready
How To Track Your Expenses: I’m ready

There are countless other benefits, but these are a few of my favorites!

In Wealthdojo, we believe in making finances simple. Tracking expenses is the first part in a person’s financial journey. To help you out in your journey, we are running our next seminar series #4: Sandwich Generation: Is it still possible to be rich?. We will touching on Your RDSL (Retirement Destination Shopping List), explaining why budget is USELESS and UNREALISTIC and also finding out how successful people STAY RICH by using the InPORT strategy. Contact us for more details. See you there.

Naruto Run Area

How to Naruto Run To Financial Freedom

What is a Naruto Run and how is it related to Financial Freedom? What we are running to?

Naruto Run Area
Naruto Run

Recently, there is a big joke in the USA as there is now a whopping 1.7million people who have signed up to “storm Area 51” Facebook event. The event, which is called ‘Storm Area 51, They Can’t Stop All of Us’, was seemingly created as a joke. However, it has got so serious such that the US Air Force has issued a stark warning to anyone thinking of trying to gain unauthorised access to the base. (Read more: Naruto Run Area 51)

This sentence was what made it famous.

‘If we naruto run, we can move faster than their bullets. Lets see them aliens.’

For those of you thinking of what is a naruto run? You have come to the right place. A Naruto run is a style of running in which person or character runs leaning forward with their arms stretched out behind them. For those that need some visual image, look at the gif below.

Naruto Run Area
Naruto Run

Not the most important of information. In this article, we want to find out how we can Naruto run our way to financial freedom. Have you ever pondered about this question before?

“Why are some people rich and how did they become rich at a young age?”

How is it possible for people that young to be rich? This question comes out a lot for people who are in their 40s or 50s. They have worked hard for a HUGE part of their life but are not rich yet. Just how is it possible for  people who in their 30s become richer faster than them! This also puzzles me UNTIL I met people who are became Millionaires in their 30s. These are ordinary Singaporeans who also serve the same NS, buy the same HDB, and also get married (Read More: Sandwich Generation: Is it still possible to be rich?). I had a rare opportunity to interview these people and what they shared with me changed my life forever. To my surprise, I realised that there are many similarities on how they naruto run themselves into Financial Freedom. Today, we will look at 3 similarities strategies that majority of them used to reach their Financial Freedom.

  • Learn a high paying skill set

Let’s face it. To make money from assets, we first need to have money. In our initial working years, majority of us won’t have a lot of money to invest. Imagine you have a chance of a lifetime to make 1000% from the stock market, would you want to have $10,000 or $100?

$100,000 -> After 1000% -> $1,000,000
$1,000     -> After 1000% -> $10,000

See the difference?

For young people, the capital that we have will be limited. As a result, there might be tons of opportunities that we might be missing out if we don’t have money. Instead of lamenting on the fact that we don’t have money, successful people they learn a high paying skill SO THAT they can get more money to invest WHEN THE TIME COMES. To find a high paying skill set, we need to first understand what the market needs NOW. You can always get this information from LinkedIn (Read more: Tops Skills 2019). Some of the skills sets are evergreen, like Sales Leadership, Marketing and customer service.

There are many skills to learn. Choose one and get very good at it.

  • Maximise the available tools you have in your disposal 

Multiplier accounts (Read More: Money Maximization: REV©), Fixed Deposits, Bonds, CPF (Read More: Make The Most Of Your CPF). There are many tools that we are exposed to. But, it is still under utilized by many people! These are simple things that we can do to help us maximise the amount of money in our bank accounts especially when there is minimum fee or commission involved in these accounts. Successful people maximises what they have with what they have. Every cents counts.

I have a client who was not maximizing his bank accounts in Singapore. After, I share the REV strategy with him, his banking interest INCREASED by 600%

Before REV: $1400 interest per year
After REV: $10,000 interest per year

After sharing with many people, I realised that most Singaporeans will be able to get around $150 to $300 a month just using this strategy. These are just extra cash to be obtained if you put in that extra effort.

  • Learn Investing
Preparation is half the battle won
Preparation is half the battle won

In a recent survey (Read more: Most Singaporeans behind on retirement plans, many unsure how to grow wealth), 1 out of 3 Singaporeans is not investing. My question in my previous article is that are the 2 Singaporeans investing properly?

Most people that I met do some level of “investing” but when questioned deeper, I realised that many of these people “gamble” instead. So, how do you identify if you are gambling or investing? Ask yourself these questions

  1. Do you know what kind of business are you investing in?
  2. Do you know how this business collect revenue?
  3. What kind of risk are you taking when putting your money here?

If you are unable to answer those question confidently, you might be gambling with your money.

I realised that successful people who became rich actually spend money to learn how to invest. It is like a springboard to jump even higher. Yes. It will cost money. Yes it will cost time. Yes. It will take effort. It is like everything else. If you want to be good at something, it will definitely cost money, time and also effort. Why else would you want to risk your hard earn money.

In summary, we hope that everyone can naruto run their way to financial freedom.

Here, at wealthdojo, our vision is to be the platform for everyone to become enlightened in their financial decision so that they can become financially free. Our tagline: Your black belt to financial freedom. We hope this website will be one to let you be rich and also succeed in the financial world.

If you would like to start your financial journey today. Subscribe to us to learn how you can move through your financial journey together.

How to be rich and succeed in the financial world

How can we be rich and succeed in the financial world?

How can we be rich and succeed in the financial world?

How to be rich and succeed in the financial world
How to be rich and succeed in the financial world


Schools teach us how to be a good worker. However, there is not a single module or subject in school that teach us how to manage money. Therefore, when we first start to work, many of us are not sure how to handle money.

The truth is there is a huge group of people do not know how to manage money well. It is expecting children to deal with $1 million dollars. How can you expect people to manage money when it is the first time they have so much money? Take a moment to think about how fresh graduates get into debts in the first month of their salary. For most of us, it is the first time we have an income of $3000 to $5000 in their bank account. Most of us have only spending habit prior to this, we will just spend it all! This will set back our financial journey by years as we don’t prepare their wealth at all. We then find “investment deals” so that we can have more money to spend. The next important question is this.

How can you discuss about retirement or investment options when you don’t have any money to begin with?

Roll Eyes
Roll Eyes

First, we don’t prepare our wealth enough. We also found out that most people blame everyone else except ourselves. We blame the insurance companies, we blame the banks, we blame the government. There can only be a point when some of us decide to take things in their own hands.

That was how wealthdojo is for. Our vision is to be the platform for everyone to become enlightened in their financial decision so that they can become financially free. Our tagline: Your black belt to financial freedom. We hope this website will be one to let you be rich and also succeed in the financial world.

Do check out our flagship programs like Money Maximization: REV©Make The Most Of Your CPFInsurance for investorsFinancial Wizardry Program, and also Sandwich Generation: Is it still possible to be rich?.

We wish you all the best and hope to see you in one of our programs.