Case study: 1999 to 2001 expenses analysis

Dec. 9, 2018

Introduction

I have to push myself hard and work on my personal finance. I spent one hour to go over the expenses by my memory, and then I like to do some analysis of my personal finance. It is hard to see all those expenses to take away my net income, and I like to write something to document my personal mistakes in finances.

Case study

I did put together some excel sheet and pdf in my personal folder. I like to share my experience for education purpose, and also push myself to learn and research how to manage myself emotional, financial, mentally, and explore the wealth secret.

Here is the folder of my personal finance folder to do some research.

Eat to live, not live to eat

I used to attend FAU4Fun group, we got together and went out for buffet in Florida a few times. When I had a full time job, I did not learn that the grocery bill can add up biggest amount in my life. I can use those dollars to invest to purchase extra home and put into the bank at that time to generate 5% interest.

The grocery bill I estimated is over $15,000 dollars. I should cut down less than $300 a month. Save 6,000 dollars.

Travel, driving and my mom and relatives

I did not learn enough toughness of life through my personal experience and my family. When I review the salary and income huge difference, I did not learn to use my income to leverage them to invest a lot of real estate properties. I chose to spend on international travel for my mom, myself, and all kinds of expenses.

Sometimes I learn that your relatives are not your best friends. I chose to become a Christian starting from 2001. I learned to carefully choose who you should stay close to your life.

My expenses related to my mom is huge. $11,650.00 dollars. Why I chose to let my mom travel to Florida? I am on working visa. Do my mom like to travel? Why I chose to have a trip to Shanghai only for a few days and paid for all six people's expenses in 2001?

I have five siblings. How to deal with wealth and share my wealth with my siblings? I think that cash gift to adults is not appropriate at all. I did not understand that the income and jobs I had were created in economical bubble, startup companies with investment, it is the big check syndrome of three years in my whole life.

My car payment  

The car expense was too much and I only need to drive to work and grocery. I did not explore public transportation at all.

My car payment is $16,500 dollars.

Delay gratification

I did pay for a condo for my mom. I did not own anything from that property. But it was such great teaching example in my life for an investment. If I can control my money very well, then I can control my emotion, my life much better.

I should consider if I can get US greencard from the work or not. How long can I survive on the job? How long does the company survive?

I paid for a condo in the city of Yichun. My sister came out the idea and made the purchase. She wrote a letter to explain the importance to have a home, and my brother also wrote a letter to me as well to explain how hard he worked in Shenzhen area for a few years. The living condition and the salary he could make for a living.

I have compassion for my mom and my sister, and my brother and his family. I did not argue and pay off everything.

But I should consider if I can sustain my life style or not. I should consider to go back to my home town as well one day, without a job and I need to make a living in the city of Shanghai.

Expenses in detail

Travel to USA - my mom's travel   $3000.00 us dollars
China travel - $7000 us dollars
My travel - over $3000 us dollars