Merry Riana's Bank Account (Part 2)

Previously, I shared in my blog that I usually manage my personal finances by distributing my income into different accounts, immediately once I earn it.

The different accounts that I have are: Necessity Account, Business Development Account, Income Generator Account, Education Account, Fun Account, and Giving Account.

For those of you who are curious to know more about it, Here it is ...

Today, I'll share with you about my Necessity Account.
I'll share about the rest of the accounts in my future blog entries.

I usually put around 30% of my income into my Necessity Account.
The money in my Necessity Account is for my monthly expenses.
It includes my condo expenses (i.e. installment, property tax, maintenance, utility bills, etc), my car expenses (i.e. maintenance, petrol, car insurance, road tax, cash card, car park coupons, etc), and my personal expenses (i.e. HP bills, insurance, income tax, groceries, F & B, movies, manicure-pedicure, haircare, spa, etc).

Each and every one of us has this Necessity Account.
The difference is that, there are some of us who control & manage this Necessity Account well, and there are some of us who spend 100% of our income for this.

How many % of your total income goes to pay for your Necessity Account? :)

If you don't have an answer for that, I encourage you to start tracking, because only when you are aware of your current financial situation then you can start doing something about it.

Love,
Merry Riana
www.MerryRiana.com.sg
www.facebook.com/merry.riana