Planning for retirement isn’t just about saving more — it’s about understanding how you
spend now. Before you can build a comfortable future, you need a clear picture of your
current lifestyle.
In Singapore, many people focus on CPF contributions, insurance policies, or investments —
and while these are essential, they won’t help much if you don’t know where your money is
actually going.
That’s where spending awareness comes in.
Tracking your spending habits early — ideally from your 20s or 30s — gives you control,
clarity, and confidence. It helps you budget smarter, avoid lifestyle inflation, and
project exactly how much you’ll need when you retire.
Let’s explore how tracking your expenses now can lead to freedom, not fear, in your later
years.
Why Track Spending Habits Early?
Many Singaporeans underestimate how much they spend — especially on recurring, small
expenses like:
Grab rides and food delivery
Daily kopi or bubble tea
Subscriptions (Netflix, Spotify, gym memberships)
Shopping and online purchases
These add up quickly. By tracking early, you learn:
Where your money actually goes
What’s essential and what’s flexible
How your spending might change over time
This awareness helps you plan realistically for retirement instead of guessing.