The Numbers: A Summary of Month 1

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South Korea (May 2016)

Big picture stuff 🙂 I have kept a lot of detail though because we are so new at this Brat Experiment and I think that the detail gives us a better idea of where we are spending money and where we can reduce (and maybe fellow Korean dwellers will find it useful too). I am hoping that I can drop all the detail once we have a better idea of our spending/saving culture.

 

Day to day lives:

Groceries

34%

 515 710 won

 

7700 won Groceries
19 680 won Groceries
13 000 won Coffee out (thanks for lift)
8850 won Groceries
9890 won Groceries
8400 won Groceries
4000 won Coffee with school
2650 won Milk
4000 won Medication
18 000 won Medication
48 590 won Groceries
4500 won Groceries
2600 won Milk
4300 won Milk and beer
10800 won School juices
48 450 won May school lunches
75 400 won School lunches
4000 won Korean side dishes
165 170 won Groceries
7770 won Groceries
11 720 won Groceries
3 500 won School lunch
32 740 won Groceries

Eat out

8%

 117 000 won

23000 won Restaurant dinner
6750 won Beer and ice cream
9500 won Order-in dinner
25 000 won Dinner out (dakgalbi)
13 000 won Order-in
9950 won Pudding
17 000 won Dinner out
1200 won Ice Cream
1200 won Chocolate milk
4500 won Coffee
850 won Water
5 050 won Milk and picnic snacks

 Clothes

11%

160 180 won

27780 won Running shorts
27 800 won My clothes
14 900 won My clothes
79 800 won Shoes
9900 won Clothes

Alcohol

2%

32 650 won

5750 won Beer
18 000 won Beer in a pub
5200 won Beach beer
3 700 won Beer

Once-off

13%

189 000 won

50 000 won Wedding present
130 000 won Back pack
9 000 won Kokis

Bills

24%

 358 720 won

440 won Bank fee
102 300 won Building management fee
39 710 won My phone bill
140 270 won Gas bill
36 000 won Husband’s phone
40 000 won Internet

Transport

2%

26 900 won

3500 won Taxi to yoga
3 400 won Taxi
10 000 won Bus/subway card recharge
10 000 won Bus/subway card recharge

Gifts

6%

96 500 won

15 500 won Gifts
36 100 won Gifts
44 900 won Gifts

Week 1 grand total: 202 900 won

Necessary: 145 300 won (72%)

Indulgent: 57 600 won (28%)

Week 2 grand total: 89 110 won

Necessary: 67 960 won (76%)

Avoidable: 21 150 won (24%)

Week 3 grand total: 134 130 won

Necessary: 107 180 won (80%)

Indulgence: 26 950 won (20%)

Week 4 grand total: 636 190 won

Necessary: 538 130 won (85%)

Indulgence: 98 060 won (15%)

Monday 23rd & Tuesday 24th: 443 580 won

Necessary: 433 680 won (98%)

Indulgent: 9 900 won (2%)

TOTAL: 1 505 910 won (over budget by 505 910 won)

Total necessary: 1 292 250 won (86%)

Total indulgent: 213 660 won (14%)

At first glance: not great. We were hoping to spend only 1 million won and instead spent just over 1.5 million won. However, we did reduce our eating out really drastically so that’s great. Also, we realized this hasn’t been a typical month. We’re hoping the clothes shopping will be a once-off (we’ve just moved to Korea and it’s just not possible to bring everything you need for a year in one bag – especially when you arrive in the frigid temperatures of winter) and that the once-off section won’t find other once offs 🙂 Also our bills should reduce by about 100 000 won because our gas bill and Husband’s school lunch was actually for two months. Taken all together that’s 449 190 won we’re hoping we won’t have to pay in Month 2 – and suddenly we’re only 50 000 won over budget 🙂

However, the most significant thing for me is that with each passing week our ratio of necessary vs indulgent improves. This is truly cartwheel-fantastic because it means that we’re learning and improving our spending/saving culture weekly i.e. we’re on the right path and heading in the right direction – whohoooooo! 🙂

 Travel:

Now this gets a bit complicated. Long before we started the Brat Experiment we had decided that with our April salaries one of us would buy tickets to Malaysia for our August holiday – which we did. This technically counts as travel. BUT if we hadn’t bought those tickets that money would have gone straight to savings. So in our heads we’re not counting those flights as coming out of our travel budget – instead they are from LBTBE (Life Before The Brat Experiment).

  Transportation

28%

223 400 won

(without the flights)

4 300 won Taxi
29 200 won Bus to Seoul
8 700 won Taxi
21 800 won Bus to Boryeong
4 400 won Taxi
19 800 won Train to Seoul
4 400 won Taxi
43 000 won Bus home
4 300 won Taxi
3400 won Taxi to bus terminal
4500 won Taxi to bus terminal
23 400 won Bus to Chuncheon
3200 won Taxi to dinner
5800 won Bus to Gapyeong
5200 won Taxi to accommodation
3000 won Taxi to town
3000 won Taxi to town
5800 won Bus to Chuncheon
23 400 won Bus to Gangneung
2800 won Taxi home
1 300 000 won Flights to Malaysia

Accommodation

32%

 260 000 won

70 000 won Motel
80 000 won Motel (two nights)
50 000 won Love Motel
60 000 won Pension

Food

27%

223 300 won

9 800 won Dinner out
7 500 won Dinner out
22 000 won Lunch out
8 000 won Breakfast gimbap
6 000 won Coffee out
18 100 won Coffee out
23 000 won Dinner & Beer
24 000 won Breakfast out
6 000 won Dinner (from shop)
28 000 won Dakgalbi (dinner)
2000 won Pudding after dinner
9000 won Breakfast out
45 000 won Food at Beer Fest
6000 won Breakfast smoothie
5900 won Burger lunch
3000 won Bus snacks

Alcohol

9%

76 600 won

47 000 won Drinks
9 600 won Beer
20 000 won Alcohol

Shopping

4%

32 000 won

5 000 won Strawberries (present)
27 000 won Presents

Boryeong Travel Total: 522 900 won

Necessary: 299 400 won (57%)

Avoidable: 223 500 won (43%)

Beer Festival Travel Total: 292 400 won

Necessary: 226 500 won (77%)

Indulgence: 65 900 won (23%)

Malaysia International Flights: 1 300 000 won

Travelling TOTAL: 815 300 won (without flights) – under budget 🙂

2 115 300 won (with flights)

I’m thrilled because we came in under our travel budget. But I must admit travelling just around Korea costs a lot more than I thought it would… However, again there was an improvement in our necessary vs indulgent ratio and so I have faith that our spending while travelling within Korea with reduce with time 🙂

MONTH 1 TOTAL (day to day & travel): 2 318 210 won (318 210 won over budget)

3 621 210 won (with flights)

The moral of the story? Some highs. Some definite lows. But all evidence suggesting that we are learning and improving. So all in all, not a bad first month J What do you think, dear Reader?

Xxx

 

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3 thoughts on “The Numbers: A Summary of Month 1

  1. Ok, so we have come across a problem: our money tracking app, for some strange reason, hadn’t synced two of Husband’s entries with my phone. So when I did the weekly (and monthly!) summaries of our spending they weren’t included 😦 These items were:

    Postage (presents and cards sent to South Africa): 46 630 won (necessary? indulgent??)
    Beer brewing kit: 136 700 won (Necessary. Husband loves it and it ultimately works out cheaper per beer)

    What this means is that out total spend was actually 2 501 540 won for Month 1. Sigh.

    Like

  2. Pingback: The Numbers: A Summary of Month 2 | The Brat Experiment

  3. Pingback: The Numbers: A Summary of Month 4 | The Brat Experiment

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