Introduction
It is my personal finance research. I spent a few hours to work on 2017 Scotia bank checking account and also credit card statement month by month, the monthly expense average in 2017 is $1,300 dollars. I like to analyze this expenses.
My analysis
Based on my analysis, I spent $500 dollars for grocery each month. My car insurance annual expense is $1,400. Compared to my asset in Canadian dollars, I need to low my grocery expense from $500 dollars to $300 dollars.
I spent $200 month in Costco, $200 dollars for crystal mall using cash, and $100 dollars on credit card for grocery. I need to lower the cost to $300 dollars.
One of ideas is to set a capped amount $40 dollar for each shopping trip in Costco.
Technical detail
I have to go through Scotia check account, Scotia visa credit card statement, and then I need to put all transactions into an excel sheet, and mark the category; I pay Costco shopping using my Scotia debit card, and then withdraw cash to do grocery shopping in crystall mall, and also I use Scotia credit card to pay grocery as well.
Actionable Items
I worked very hard in 2017 to reduce the expenses. I did not shop any clothes. I repaired my flat tire instead of replacing four new tires. I wrote a blog called my office. I wrote a few blogs related to my car maintenance and I like to look into how I should learn the basics to avoid scam.
I need to cut down the expense on grocery shopping. I need to cut down the bill to $300 instead of $500 Canadian dollars.
