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.
About Merry Riana
Merry Riana is a Millionaire Entrepreneur, Best-Selling Author and Motivational Speaker.In just a short period of 4 years after her graduation, Merry has earned more than S$1,000,000 through her business. This achievement is featured as an article titled ‘She’s made her first million at just age 26’, in The Straits Times on 26th January 2007. In October 2010, Merry was conferred the Great Women of Our Time Award. As an icon in the regional, financial, and educational communities Merry has broken down barriers to become one of the most admired and watched individuals in the media today.
visit www.MerryRiana.org to read more about Merry Riana
Hi Merry, I’m happy to know your way of managing your finance.
What you said is correct, only by knowing where our money go to
then only we can plan for “next”. Thank you for showing us you way.
Starting from now I will follow your way of managing my income.