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How Do I Handle My Money? – Part 2

singapore dollar Hi all ^^ If you haven’t already read part 1 of this series , please do so here.

This series of “How Do I Handle My Money” is to share with you my experience in effectively handling my money and the joys you can get by implementing these simple steps ^^

Before I go on to the actual strategy ,I would like to emphasis something


“$ management is a long term investment , it takes time and effort to build up good money habits and reap the rewards later – it’s not a “quick fix”

So if you are reading this , expecting it to solve your money problems instantly – you will be disappointed.

Okay , on to actual practical strategies !

Strategy 1) Plan & Record Your Spendings

What do I mean by plan your spendings? That means sitting down and actually gauge how much you need to spend on a monthly basis .

scrollerImagePaperPen To do this, I would like you to grab a pen and paper now, and write down the answers to the following questions , do it now!


Q1) What are the things I must spend on a monthly basis? (transport? meals?)

Q2) What are the things I splurge on a monthly basis? (nike apparels, billabong wallets)

Now do it ! Don’t wait..!

Okay, now that you have a list of items you spend on, next step would be to write down next to each item in your list how much you are currently spending on that item


Meals - S$ 200 / month

Transport - S$58 / month (concession + etc)

Games - S$ 30 / month

“But I don’t know how much I am spending on each item =X ”

That my friends, is one of the causes of you always not having enough to spend!

But it’s okay, whether you are able to write down how much you spend or not, we can move on to the next step

The next step is to record your spendings.

What I would introduce people to do is to record their spendings in this manner:

Use your list (in step 1 – Plan your spendings) to complement your records.

What do I mean by this?

Everytime you record a spending, it should fall nicely into one of the items in your list , example:

Description Item Type Amount
Chicken Rice Meals S$ 2.50
Top Up Ez-link Transport S$ 10.00
Nike Shoes Luxury S$ 159.95

You get the idea ^^ So at the end of every month, you would’ve know how much you spend in each category


“If you fail to plan for success, then you’re planning for failure”

You’re probably asking, okay yu song, so what’s my first step now?

Where Should I Start? :

I’ve say start by

Recording your spendings on a daily-basis (make this a habit for life) – it takes only 5 mins per day

Start to plan your spendings simultaneously.

Do it NOW!

Part 3 coming up , next week ^^

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