Case study: top 22 expense by categories

Jan. 16, 2019

Introduction

It is my personal finance research. I put together all transactions from 1998, 1999, 2000, 2001, 2002, 2007 citi credit card statements, and then I like to do a case study of top 22 items.

Case study

I have to push myself how to analyze mini leaks or major leaks from my citi credit card statements. I made net income from 1998 December to 2001 Sept, but I only saved $16,000 US dollars in checking and saving account in Sept. 2001.

The citi credit card transaction all together has the amount of $40,545 dollars, those top 22 items are 35,239 dollars.

Two years I drove less than 3 miles to work, 12 months I drove 22 miles one way, 44 miles round trip to work every week day.

I had car installment $395/ month, $490/ month on mortgage, and $2000 black leather sofa paid by personal check, not on citi credit card statement. Those $40,000 dollars only grocery are necessary. I can save $30,000 US dollars for those three years.

How to save those money?

First I should have some analytical skills. I did not have stable job as a software programmer. I was lucky to get an offer from Trendium in 2000 Sept.. Since I chose not to go to Las Vegas to continue to work on the gaming software. 

What was my finance goal back in 1999 to 2001, or 2007? 

Phone calls are $892 dollars on citi credit card. Those are long distance international calls. I should look into the business area how to improve my communication.

Books 

In 2014, I visited Florida and threw away all those books I had. I did not know how much I paid for those books.

In the above table, the cost is around $795.93 dollars.

Clothes

In 2014, I went to Florida and threw so many clothes in garbage can. I did not know how much I paid for clothing over years. Now it shows at least $5524.04 dollars. That is the money I paid for my mom condo in the city of Yichun in 2001. Now its value went up to half a million Chinese dollars, almost $100,000 US dollars.

I should be a nice person and live with less than $1000 dollars wardrobe. I should set capped value to the clothing.

Reference:

Here is the github folder containing the excel sheet with all transactions (1998, 1999, 2000, 2001) and how I analyze.

Personal finance research is tough and I like to push myself to be a problem solver. I like to dig into the area quickly and then find out things to learn.