Case study: 2012 citi credit card statements

Feb. 6, 2019

Introduction

It is my personal finance research. Today I got 12 statement of citi bank credit card statement in 2012. I like to case study the expenses on the citi credit card.

Case study

It is the third year I worked full time starting from 2010. I decided to take a vacation in January, I started with asset in Canada with $17,000 US dollars, but actually spent over $5,000 Canadian dollars for one month vacation.

I review all possible mistakes I made, and I like to push myself to learn.

One is to choose wrong time to take vacation. I paid $1050 US dollars for Air Canada ticket. This is the first vacation I took after I landed in Canada in 2010.

My analysis

I should choose slow season to take vacation. I can get ticket around $550 Canadian dollars in May. I should review my shopping habit and learn how to avoid those shopping expense around $500.00 dollars.

Actionable Items

I need to look into how to take vacation to China. How to reduce cost and also discipline myself in terms of shopping using credit card.

It is so easy for me to save $500 dollar on airline ticket if I choose the vacation in April instead of January.

I should study Air Canada ticket round trip to Canada, and learn how to time the market in the lowest point.

One thing I like to push myself to learn is to learn to spend minimum on vacation. I should understand that the expense should be income - savings. If my asset in Canada is less than $20,000 dollars, I should not spend $4000 for a vacation.

Also if I cannot control expense on clothing, I cannot control my personal finance at all.