Sunday, January 22, 2023
HomeBudget2022 Monetary Evaluation - A Difficult Yr

2022 Monetary Evaluation – A Difficult Yr

Phew, what a 12 months 2022 has been! Because it involves an finish, that is my annual evaluate of my funds to verify the place we at the moment are and be certain that we’re not falling too far off from our objectives. Throughout this yearly evaluate, I usually look at my earnings development, bills, financial savings, insurance coverage protection, and funding efficiency – which helps me to higher strategize for the brand new 12 months.

This marks the ninth 12 months that I’m doing this on the weblog. Earlier than I’m going into this 12 months’s evaluate, right here’s a fast recap of earlier years: 

  • 2014: Saved $20,000
  • 2015: Saved $30,000 and grew earnings
  • 2016: Saved $40,000 and grew earnings, hit $100k in internet price at age 26 together with CPF
  • 2017: Saved $45,000 and doubled my internet price in a 12 months
  • 2018: Saved $50,000 
  • 2019: Saved $35,000 (didn’t realise I utterly missed out on a round-up publish, however right here’s our child-related bills as an alternative)
  • 2020: Saved $30,000 and achieved loopy (irregular) funding returns
  • 2021: Saved $40,000, grew earnings however noticed decreased funding returns

Financial savings & Earnings

My yearly financial savings throughout the previous 9 years.

I went again to company life in Q2 this 12 months, and stopped instructing GP tuition. As a substitute, I began a brand new facet hustle (fairly by likelihood) which helped to carry up my earnings ranges. This got here after my big achievement in dropping 20kg in 7 months (see how I did it right here), which was achieved by a mix of things – weight loss plan, train in addition to dietary supplements to make the journey simpler. So lots of you guys watched my transformation in real-time and saved asking me for steering on how I did it, so I utilized to develop into a distributor and produce within the merchandise into Singapore to promote as nicely. That now meant I may now receives a commission for the hours spent consulting and instructing every of you on methods to drop some pounds, which made it well worth the time.

My weight reduction transformation in 7 months. Left: 3 months postpartum (72kg). Center: after an entire month of each day HIIT workout routines, I used to be nonetheless at 72kg and my shallowness plummeted. Proper: after 7 months of mixing weight loss plan + train + dietary supplements, I used to be lastly lighter than pre-pregnancy at 54kg on August 2022. Since September, I’ve been 52kg which is even lighter than after I was in college greater than a decade in the past!

And because of this, I used to be capable of train and assist 1,000 of you drop some pounds efficiently, which was my subsequent largest achievement this 12 months (except for my very own transformation). As we speak, though I’m now not utilizing the dietary supplements as a lot as I did anymore – primarily as a result of I’m already lighter than pre-pregnancy and might keep my weight simply with train (it was rather a lot tougher to do intense calorie-burning exercises at 72kg because it damage my knees) – I’m nonetheless teaching of us who need my assistance on dropping pounds through my little Shopee retailer right here.

My methodology is not any secret – simply work on the calorie deficit. When you can management your weight loss plan and train to the purpose the place you’re already capable of attain a calorie deficit, there’s no want so that you can use any dietary supplements, except you need to velocity issues up. Nevertheless, from private expertise, I discovered that controlling one’s weight loss plan in Singapore (with its abundance of excellent meals and a robust foodie tradition) is way simpler mentioned than achieved, so utilizing the merchandise undoubtedly assist to make the transition rather a lot simpler – to the purpose the place you now not want the merchandise and might wean off them 😉


Our household bills have risen considerably, and I’ve calculated that we’d like a minimum of $5+ok a month to outlive now. As soon as Finn begins college in January, this can rise to $6.5k a month, which isn’t too far off from the determine quoted in this Straits Occasions article. The approximate breakdown is as follows:

Nate’s childcare & enrichment$1,000
Helper wage and levy$1,000
Mortgage & dwelling insurance coverage$1,000
City council, carpark and utilities$500
Eating & groceries$1,000
Household insurance coverage insurance policies$1,000
Our Minimal Month-to-month Family Bills

This excludes our particular person eating bills, the allowances that we give to our dad and mom (a 5-figure sum annually) and different miscellaneous bills that aren’t recurring in nature, so you possibly can think about how the precise sum is rather a lot greater.

I’ve to confess, this got here as a shock to me as a result of it doesn’t appear that way back after I was surviving on solely $500 a month. However to be truthful, 5 out of the 6 line gadgets above didn’t exist throughout that point both, so it is just pure that our bills have shot up after getting into the subsequent stage of life.

For holidays, we did a Royal Caribbean cruise earlier this 12 months (examine our horrendous encounter right here) and a year-end Genting journey, the place we paid for the dad and mom as nicely, in order that amounted to a different $5k. We’re painfully aware that we might not have a lot time left with our dad and mom attributable to their age and well being, so we’re hoping to have the ability to do a minimum of 1 flight and 1 automotive/ferry journey in a 12 months with the household to construct extra reminiscences abroad whereas we will. That is additionally our manner of thanking them, for loving and serving to us with the children which allowed us to nonetheless ship at our workplaces.

Insurance coverage

We didn’t add any new insurance coverage insurance policies this 12 months, or make any important adjustments, since most of it was already settled final 12 months previous to Finn’s delivery.

Nevertheless, I did notice that I had been unknowingly paying near $100 a 12 months for AIA Vitality, which I’ve not utilized since 2018 (upon getting pregnant with Nate). Proper now, I don’t have any of the smartwatches that hyperlinks to this system both, so I’ll probably terminate it from henceforth.


2022 was a tough 12 months to take a position. It took plenty of psychological self-discipline and can to stay invested, and never run for the hills as inventory costs began falling.

The most effective undervalued alternatives appeared this 12 months among the many Chinese language shares, so I used to be focusing extra time and a spotlight on the Hong Kong markets as an alternative of the US facet this 12 months. I wrote on this weblog final 12 months that every one my HK positions have been within the crimson, and that massacre continued nicely into this 12 months, so you possibly can think about my aid when China lastly introduced their reopening in November, which stopped the inventory market decline and we began seeing some inexperienced once more!

My Singapore portfolio remained flat, as I took some earnings off the desk. My US portfolio took an enormous hit as plenty of the positions went into the crimson, particularly the newer ones that have been initiated after April 2020. Fortunately, development shares kind not more than 30% of my general portfolio, so I used to be spared from an enormous meltdown in contrast to another friends (it was additionally the explanation why I had a 40% funding efficiency throughout the COVID bull in a 12 months the place others have been getting 3-digit returns from shares like SEA, Tesla, and many others).

The most important ache got here from crypto, which kinds 20% of my whole funding portfolio. Within the aftermath of the Luna meltdown and FTX collapse, crypto has taken an enormous hit, and I’m down by about 50% right here. It was principally attributable to my earlier purchases of BTC and ETH within the 2016 – 2018 interval that cushioned the losses.

In whole, my funding portfolio is at present down by about ~35%. A few of these are everlasting losses (akin to Luna), however others nonetheless stay to be seen within the coming years.


All in all, this 12 months hasn’t been straightforward financially. If I needed to sum it up, it could be:

  • greater earnings (coming off from a one-year break from company life)
  • greater bills
  • decreased funding efficiency

I’m being extra energetic with fastened earnings choices for now (principally T-bills and money administration choices, see right here) since we’re in a rising rates of interest surroundings, and that’s undoubtedly one thing new as I hadn’t seen the necessity for it within the earlier decade whereas rates of interest have been so low.

Transferring into 2023, I foresee that it’ll stay difficult to take a position, particularly given the awful market and investor sentiment proper now, however I’ll proceed to stay vested and deploy extra capital each month into undervalued alternatives. As for crypto, I nonetheless don’t consider it’s the finish of the business, however I do suppose it should take rather a lot longer this time spherical earlier than it recovers from the massive lack of belief that has collapsed in 2022.

See you guys over within the new 12 months!

With love,
Funds Babe


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