Expense Record

One of the action I need to take is to make CMS. I need to record all of daily expense in a small note book (555 book). When do I need to apply this CMS? I need to apply this CMS after my platform ready. Platform can called ready when Overdraft already approved and can use it.

Today I apply this practice even my OD still not approved. I apply this activities as practice before actual time that I need to apply and it is not a wrong action. In our life, we need to do this activity at any time, not only limited to a period of time.

Why we need to make record of all of our expense daily?

From daily expense record, we can use our money effectively. Meaning of use money effectively is we can achive our goal that we already set up before and we can manage our money efficiantly. We can minimise usage of money to get maximise benefit of products.

With practise of CMS we can create our attitude to make saving of our money and control our expence. We can know our flow of money, for what purpose we use our money and percentage of our money use by category such as for food, health, wealth, safety, dress, cosmetics etc.

We also can know which shop give cheaper price for the same product and same quality. From this knowledge we can use minimum amount of our money to get maximum benefit of the product or service.

Back to the my CMS today. From morning my expense record follow as what I expect. But in the afternoon around 12:00, I received a call from my friend fiancee inform that my friend have road accident and now he is at Salam medical centre. There is nobody to help him, its only me. He is my hometown friends, my hometown neighbour.

I go to the clinic, I need to pay clinic bills (RM170.00) and also to pay for ambulance to send him to Hospital (RM200.00). Also pay RM20.oo to the person help to sent him to the clinic.

I follow him to the hospital and go back at home on 8.00 pm after he sent to ward from emergency section.

What I want to say here is not my expense to help others but I want to highlight the unexpected expense. What happen when this situation happen? Also what happen when this situation happen to ourself or relatives? This situation will effect to our financial planning. And if amount for this situation is too big it will effect our financial freedom.