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Finances

Saved 62% of My Income: March 2021

This is a new monthly series to share how to save money each month. If you have never visited my blog before, please read this post first ‘How I save 60 percent of my money in Vancouver, Canada’.

FYI, I live in Vancouver, Canada. I moved here 3 years ago from Korea. Also, I only make 40-50k per year. The expense below is for me and my wife.

Expense Summary

Rent$1,390
Groceries$480
Home Essentials$23
Drinks$31
Eating Out$179
Internet Plan$49
Phone Plan$41
Netflix$10
Pharmacies$65
Books$10
Transportations$10
Misc$38
Total$2,326

I spent $2,347 this month which is pretty normal spending for us. In hindsight, I could save more if I played well with groceries.

Groceries and Home Essentials

Grocery bills are something that I always try to reduce, but it is always tricky since my wife and I are foodies! We normally spend $450-500 per month. I bought some expensive Italian cheeses and prosciuttos this month. That’s why I overspent on groceries.

My wife received big Easter treats from her work, so we should be able to save more money next month 🙂

how to save money each month on groceries
Easter Treats

Eating Out and Drinks

Uber Eats offered four 75% coupons this month and my wife and I couldn’t resist! We normally spend under $100 for eating out.

Internet and Phone Plan

As I mentioned in the previous post, we pay $49 for Shaw 300. As for the Phone plan, I use Shaw mobile ($28) and my wife is with Public Mobile ($13). I pay $15 more than my wife since I recently bought a new phone.

Pharmacies

I started taking probiotics because I have IBS-D. It has been 2 months since I took it and this small pill is a total game-changer. I no longer have any symptoms!

I ordered ‘Jarrow Formulas, Saccharomyces Boulardii Plus MOS’ via iHerb. iHerb is a US-based company but they do shipping to Canada and have awesome deals.

Misc

This includes Godaddy and NameCheap subscriptions for my blog.

Investment Summary

I started taking a closer look at the Chinese Stock Market. I have been a big fan of the S&P 500 Index fund, but I became pretty skeptical about the future of the US economy. Let’s take a look at the chart below.

US Federal Debt to GDP Ratio
US Federal Debt to GDP Ratio

As you can see the US Federal Debt to GDP hit an all-time high. Can Fed keep printing money? Well, I doubt it. Since interest rates are already nearly zero, there is no more room to lower the rates.

I think this is the time that we have to question ourselves about what if the US economy will be collapsing in the near future? If the only thing they can do is printing money, there is no future for the US economy.

If you are interested more on this subject. I highly recommend you to read Ray Dalio’s recent book called ‘The Changing World Order’. It is free if you read the online version.

Here’s what I bought this month.

  • Vanguard FTSE Emerging Markets All Cap Index ETF (VEE): This is a Canadian version of VWO which invests in companies located in emerging markets mainly in China.
  • I also started investing in one of the cryptocurrencies. Well, I would say it’s more of gambling. I have studied them for months and I finally made a move. I just try to be exposed to non-dollar assets as much as I can.

Conclusion

If you are spending too much and willing to cut your expense, please take a look at my expenses and compared to yours. Also, writing down all your spending and analyze it. You will find a way to reduce your monthly expense.

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