Tracking my daily spending reduced my money anxiety

Separating needs from wants is now easier, and I have halved my expenses

- Rosalind Ang

As someone who enjoys shopping a little too much, I have always struggled with keeping my spending in check.

In a capitalist economy flooded with advertisements, and with endless product ads and placements on Instagram and TikTok, there is always the next item to chase - a nice top, an adorable keychain, new make-up and skincare.

Up until September, I had never had a budget for the month, and naturally, I never tracked how much I spent each month either.

Recently, I sat down to calculate how much I was spending monthly - and received the shock of my life.

A larger part of my salary than I thought was gone by the end of the month, even though I set money aside for Endowus investments.

I often shopped on e-commerce platforms like Shopee and Taobao without a second thought. It turned out that all the seemingly inconsequential $20 purchases added up to a frightening amount: I was spending about $600 a month on such leisure purchases.

"No wonder my cash savings are increasing so slowly," I remember thinking in panic.