Case study: 1999 citi credit card expense by month

Jan. 12, 2019

Introduction

It is my personal finance research. I got 2002 credit card statements from 1, 2, 3, 4, 9, 10, 11, 12. I saw huge difference compared to 1999 expense. I did not have a job in 2002, and I was a home maker.

Case study

I like to push myself to learn how bad it is to waste money on clothing, furniture, travel, restaurant, and all material stuff. I should be able to cut down expense on credit card to $200/ month, since I paid monthly car installment $395/ month, $495/ month for mortgage, and property tax using personal check, and also paid my mom very little, my sister only can save up to $2900 us dollar until 2000 August, that is time my sister can pay 50% for a condo 890 square foot, 500 yuan/ square foot.

I actually did not do finance analysis in 1999, I even did not print out credit card monthly statement, and did some basic calculation of how many dollars I spent on clothing and expenses. I did not push myself to learn how to analyze and make sound decisions what to purchase with so many income in my life the first time.

Here is the dollar amount by month.

Here is the graph of monthly expense.

Actionable Items

I did some analysis. Since I threw away all returned checks from 1996 to 2002 after I got laid off in 2001. I could not find how much I sent to my mom before 1999 December. But based on a note from my sister, she only could save $300 dollars up to year 2000 January.

I did not learn how to budget and plan, work with my elder sisters together to come out a plan for the purchase.

I spent $10,000 US dollars on credit card, even though I purchased a brand new Ford Explorer in March 1999, a home in August 1999. I already had problems not to control expenses.

I purchased so many clothes. I did check 1998 statements, I already spent hundreds on clothing in 1998.

Facts to review

It is part of my personal finance research. I like to evaluate how/ who should pay responsibility of my personal finance problems in 2018.

I was baptized with my mom in 2002. But in 1999, I was not a Christian. I did not have religion and I also did not have strong belief what I should follow and obey.

I like to get together some facts for me to review, and make some judgement about my behaviors, and myself as a human being, an aunt, a daughter, a student, and a single woman in her early 30s.

1. In 1999, my mom was retired, she was 66 years old. Her retired income may be less than 200 yuan/ month, 30 US dollar/ month.

2. My salary before tax was $47,000 us dollar a year from Dec. 1998 to Dec. 1999. I was in optional practical training.

3. This was the firs full time job I had in my life with huge income I made in my career starting from 1988.

4. I like to measure my emotional intelligent by how I spend and share in 1999. It seemed to me that my emotional intelligent is below average. I did not learn the basics of booking, and also tried to control small expense purchase. A few small expense can quickly be added up to thousands dollars, specially in clothing purchase.