At the end/beginning of every month, I will update the status of my freedom fund as a way to stay accountable to you and myself. Assuming everything else remains constant, the freedom fund is based on the number of months that I am able to sustain myself without income.
Freedom Check - July 2015
Income = 100%
Family = 1.2%
Personal = 3.1%
Personal = 3.1%
Rental = 22.2%
Food = 23.5%
Transport = 5%
Cell = 0.6%
Household = 0.2%
Travel = 9.7%
Misc. = 35.6%
Shopping = 2.7%
Contribution to Freedom Fund = -3.9%
Value of freedom: 20.8 months
Commentary: I know...I know...it looks like last month's expenses exceeded our income. It's because the wife needed a new phone and I convinced her to get the iPhone 6. Yeah, it costs a bomb without a contract.
Now, you see...if there's anything we learnt about phones, it's this - never settle for a low-end model. Firstly, it's not that cheap and secondly it will cause you a lot of pain everyday. The phone that the wife had before this started to lag and crash about 4-5 months after using it. Slightly less than a year later, it became a vegetable.
So, if she would keep changing her phone every year, by the 3rd year, it would amount to an iPhone. It boils down to this:
1) Buy crappy phones every year and suffer through an eternity of crashes, bugs and pain.
2) Buy a top-of-the-line phone and use it for 3-4 years at least. (I recommend the iPhone - mainly because Apple products have never failed on me. Dude, my 6-year old macbook is still running fine, my iPhone is in it's 3rd year and I have an iPod that is 9 years old and still works like a gem)
Options 1 and 2 are almost similar in cost.
That explains the spike in expenses last month. The coming month's freedom check report should be much, much better due to reasons that I shall explain the next few posts.
Disclaimer: No, this is not an Apple advertisement.