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Personal Finance

Personal Finance Evaluator

Budgeting is an important way towards financial freedom.

It is surprising that many people do not know exactly how much expenses they have. For most, it is easy for them to know their income as they only have 1 source of income.

Many people spent their monies on extravagant items and accumulates too many liabilities, while wondering why they are always poor.

Whereas, some people spent their monies only on necessities, but they are still unable to break the poor trap, that would mean that they are still holding onto too much expenses as compared to their income.

Personal Finance Evaluator

Many a times, it is much better for one to not even get to the situation of having too much expenses. Even if you are already holding onto too much expenses, knowing that alone solves half of the problem, the next step is to rectify it.

To find out if your personal finance status, you can check out using our Personal Finance Evaluator. Click on the image below to download our Personal Finance Evaluator.

The Personal Finance Evaluator is created with the income and expenses of the average Singaporean in mind, such as;

  • Loans
  • Transport
  • Housing
  • Family Expenses
  • Insurance
  • Salary
  • Secondary income or Passive income

How to use;

  1. Fill in the as accurate as you can the “RED” colour cells in the first sheet.
  2. Refer to the second sheet for the conclusions.
  3. For Insurance related expenses, look at the 3rd sheet.

Personal Finance

Other than that, we have a separate criteria for houses, cars and study loans.

Once again, do note that the Personal Finance Evaluator is created from the model created from our experience. We are not financial consultants or financial advisors. The excel spreadsheet is a guideline created from our experience. You can use it as a guideline, however, it is important that you do your own personal evaluation as well (so that you know exactly where you stand money-wise). And of course, if needed, it’s best you find a qualified professional. (Of course, try to find one knows what they are talking about. If not, perhaps stick to Robert Kiyosaki.)

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