Slow progress

Progress this month has been very slow as I have been cancelling tuition due to the hectic work schedule at school. Maintained expenses at $10/day but income from tuition only amounts to $80 so far.  I will ramp up my tuition frequency next week since there are no classes due to the study week.

Having $15,000 in cash, I intend to invest in Singpost or Ascendas REIT and reduce my cash holdings to just $10,000. If my second bursary application is successful, cash holdings will increase by $3000 at the beginning of 2012.

Sources of income

Income
- Monthly allowance from parents: $500
- Income from part time jobs/tuition/internship : $500 to $800

Expenses
- No fixed expenses as mobile phone and internet bills are being paid by parents(lucky me).
- Set a spending limit of $10 per day. This amounts to $300 a month. In this case, I will  be able to save $200 of my allowance and 100% of my income from part time jobs/tuition/internships.

Savings
Savings will be dependent on the type of part time job I work. Normally, I will be able to save at least $500 per month by giving tuition. $150 will be allocated to the investment linked policy fund while the remaining will be deposited into one of the saving accounts.