2020 Mid Year Personal Finance Review

Earlier this year I did a video called 2020 Money Goals talking about my long term savings and my sinking fund for 2020. A lot has changed since then, with COVID19 happening and another personal situation of mine (which I only document in Onlyfans) which threw me off my plans. But life happens and I have accepted that it is healthier to just go with the flow. So here goes my mid year personal finance review.

52 Week Challenge

I discovered that I really liked doing the 52 week challenge, a weekly challenge where I save RM20 a week. Other people do this challenge differently (example: save RM1 on Day 1, then RM2 on Day 2 and so on and so forth) but this is how I prefer to do it. It is a really simple challenge and currently, at the time of this writing, we are at Week 30 which means I’ve saved up RM600 so far. At first, I kept this money in my room but I have since transferred this to one of my bank accounts.

What am I going to spend this money on? I haven’t decided yet. I only know that I can spend on anything I want GUILT FREE or I can save this money or pile it on my emergency fund. Whatever I want. I'm already thinking of doing this challenge again next year and I’m probably going to increase the amount.

Sinking Fund That Didn't Work Out

  • Taiwan Trip

  • Climb Mt Kinabalu

  • Drone (then I changed the goal to an iPad lol)

  • Website Fee

We all know that travelling is not going to happen this year so I totally stopped saving for my Taiwan trip and also my goal to climb Mt Kinabalu. I mean I can travel to KK now for the climb but I don’t want to go through the hassle of travelling (even domestically on flights) right now and I also don’t think I will be physically ready to climb since I totally did not train for it at all..I just started walking at the park again after 5 months! And I was out of breath from that. If I have to climb a whole ass mountain now, I would probably faint after 3 hours lol I don't want that.

Moving on to the third item, I wanted a Drone because I all the travel vlogs that I watched on Youtube makes it look so cool (let’s be honest) but after a while I kind of didn’t want it anymore (lol) so I changed this goal to an iPad (so I can read ebooks and do some designs for Youtube) but I think I need to stop this goal for now because of my situation. As for the website fee, I’ve decided that my website isn’t something that I want to focus on the most so I’ll be downgrading from Wix soon because I just can’t justify the price anymore. I’ll still keep my domain and write about my monthly expenses breakdown.

Sinking Fund That’s On Track

  • Christmas 2020

  • Lasek 1st Year Savings

Sinking funds that are still on track for 2020 is my Christmas 2020 Fund and also my Lasek 1st Year Savings fund. For my Lasek fund, RM80 is automatically saved each month so I don’t have to think about it at all. My eyes are getting worse so I’ve decided I need Lasek but since it is SO expensive, I need a few years to save up for this. As for my Christmas fund, I initially planned to save RM1k for it (which I almost completed) but my calculations say that I need to save a minimum of RM3k to cover for my flights, car rental (I have no car in KK!), stock up groceries for my family home, and for other activities.

So yeah, this is my first year of doing the 52 challenge and also doing my sinking funds. There is still so much room for improvement and I can see now that my mistake was creating too many sinking funds and COVID19 actually forced me to reevaluate. I have decided that my 52 Week Challenge, Christmas 2020 and my Lasek 1st Year Savings will be my top priority for the remaining of 2020. I am so proud of myself for coming to this point in my personal finance journey. 5 years ago I was the type of person who wondered where did all my money go!

I am actually more focused on my long term goals but this is not something I want to write here and expose to everyone since I am not an anonymous account. I already have so much of my life online lol

Another thing that I want to highlight during my mid year personal finance review is that I am finally learning how to budget. I’ve never budgeted before, instead I just buy things and write down my expenses. But after a few years of doing my expenses, I have a bird’s eye view of what my spendings look like on certain categories. I guess budgeting is where I level up.

Recent events have definitely demotivated me..I've been feeling kind of lost. But I'm thankful for those who inspire me because they remind me to be grateful. I am grateful for all of the things that I have and don’t want to take it for granted. I also realised that without the problems I am facing, I wouldn't have discovered many things about wellness, but that is for another post.

Till then.