web
counter

Blogger Profile


Imtinan

Blog Info

Name:
A Lean Purse
Category:
Debt
Tags:
Debt
Start Year:
2016

Blogger Bio

Net worth:
Location:
Bandar Seri Begawan, Brunei
Age:
30s
Race:
Asian
Gender:
Female
Life stage:
DIK (Dual Income, Kids)
Profession:
Government Servant

(Is this your profile page? Update your info here. To update your icon, go to gravatar.com.)


Latest Blog Posts

Starting January 2018, the Brunei Government will be trial paying government employees in the Ministry of Finance and Prime Minister’s Office twice a month.  Without having gone through being paid twice a month here are some tips I have thought of in order to prepare for smoothing out our household’s cash flow. Prepare for Annual … Continue reading "Semi Monthly Budgeting" ...
Posted: Dec 07 2017 @ 6:11 PM
Assets Savings $9,519.00 Retirement $58,406.90 Investments $11,000.00 Houses $790,000.00 Total Assets $868,925.90 (+9,535) Liabilities House Financing $248,415.70 Mortgage $108,744.92 Personal Financing $32,211.87 Car Loan $750.00 Total Liabilities $390,122.49 (-1589.28) Net Worth $478,803.41 (+11,124.28) Some increases in retirement as TAP and SCP dividends were announced at 2% (they had been 1% previously for the past three years). Increases in … Continue reading "November 2017 Net Worth Update" ...
Posted: Dec 05 2017 @ 3:11 AM
I use sinking funds for those expenses I know come up every year.  Below are a list of my projected annual expenses (this are usually based on previous annual expenses) as an example: Worker Insurance – $79 Kids’ School Fees – $2630 Car Servicings – $162 House Insurances – $385 Mobile Phone License – $25 Car Insurances – $424 Road Taxes – $70 Car Inspections – $10 Driving License – $10 Land Taxes – $150 Total expected annual expenses – $3945 There ...
Posted: Nov 05 2017 @ 8:33 AM
It seems counter intuitive that if you want to pay down your mortgage faster and at less interest paid to the bank that you would take on another personal financing and overdraft financing.  At some banks prepayments are available without steep penalties but for those that have steep prepayment penalties these are some of the techniques that can be used to pay down the mortgage faster and cheaper. The goal is ...
Posted: Nov 04 2017 @ 1:39 PM
Assets Savings $1,000.00 Retirement $56,624.43 Investments $10,600.00 Houses $790,000.00 Total Assets $858,224.43 Liabilities Personal Financing $32,500.00 Mortgage $109,370.70 House Financing $248,841.07 Car Loan $1,000.00 Total Liabilities $391,711.77 Net Worth $466,512.66 (+452.18) Not much movement in my net worth as there was some restructuring done and more to come once the government housing loan comes through as well as naqd (overdraft) financing.  All the restructuring is in an effort to increase the principal paid to my loans, decrease interest paid to banks and increase cash flow. A ...
Posted: Nov 04 2017 @ 12:30 PM
Visualising debt is always helpful to get a feel for and to get motivated to pay it off. Below are a few ways of visualising debt: 1. Debt free charts which you can get here. 2. Programs like undebt.it Will update this as I go along for now this is what I have so far. ...
Posted: Oct 03 2017 @ 10:42 PM
Assets Savings $19,787.97 Retirement $56,008.43 Investments $10,200.00 Houses $790,000.00 Total Assets $875,996.40 Liabilities Mortgage $157,862.35 House Financing $249,223.57 Ar-Rahnu $1,600.00 Car Loan $1,250.00 Total Liabilities $409,935.92 Net Worth $466,060.48 (+6,249.33) This month has been a struggle as my kids’ school has been asking me to pay early for next year’s first three months of school fees plus annual book fees.  We are talking about $1.4k+.  Sales from side hustle has also been a bit slow. Good news I guess is that I still ...
Posted: Sep 30 2017 @ 7:04 PM
This is a follow-up post on buying property if you wanted to then convert it into a government housing loan after the land title is registered in your name. 7th August 2017 First off, fill in the application form. Click here or get it from the Ministry of Finance website. The application, unfortunately, is not updated where it asks for your salary increment there should be one for the fifth year as this ...
Posted: Sep 22 2017 @ 8:10 PM
Your Diagram Title Wages → Budget 4,771Budget → Savings 4,258Rental → Budget 1,651Budget → Personal Loan 896Budget → Investment 400Budget → KindyKare 350Budget → Kumon 240Budget → Charities 196Budget → Utilities 82Wages 4,771Wages: 4,771Budget 6,422Budget: 6,422Rental 1,651Rental: 1,651Savings 4,258Savings: 4,258Personal Loan 896Personal Loan: 896Investment 400Investment: 400Kumon 240Kumon: 240KindyKare 350KindyKare: 350Charities 196Charities: 196Utilities 82Utilities: 82 A new program I recently came across lets you visualise your cash flows. Above is a rough ...
Posted: Sep 21 2017 @ 10:54 PM
This post is meant to be as a guide to purchasing property in Brunei using conventional housing loans and Islamic home financing.  Having gone through the process of getting two conventional housing loans and one Islamic home financing I feel I can contribute to the costs involved and timelines with regards to purchasing property specifically in Brunei. STEP 1 – How much are you eligible to loan from the bank?  How ...
Posted: Sep 14 2017 @ 3:46 AM

Testimonials

"This is one of the best, most informative personal finance web sites I've ever seen"

-- Daffy Duck, DaffyIsSoTaffy.com

"This guy clearly knows his shit; with every post, I feel like he's got my back as one of those "savers", and his web site is pretty damn cool, too"

-- Scuba Steve, MyScubaGearIsSoWet.com

Leave a Comment

To leave a comment about this blog, fill out the following form.