Monday, August 10, 2015

Freedom Check - July 2015 (Not Really As Bad As It Looks)

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%
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 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.

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  1. We use Republic Wireless. $300 for the phone purchase ($600 for two) and ~$60 per month for two phones and 3G. It's fantastic and only gotten better since we made the switch! We broke our AT&T contracts and still made our money back within 6 months.

    1. Wow, that's a fair deal for sure. For us, we chose the low/zero commitment route which is to get the phone without a contract as our usage isn't that high anyway. :)

  2. I bought the 6+. Violates the frugal community rules, but I love the thing.

    1. I know right?! Haha, I'm still waiting for the next one to be launched before switching... *rubs palms together*