Reflect on your spending

You always have a choice.

We always have a choice when it comes to how we spend our money. Continue reading to find out how you can use your spending diary to help you choose to spend less and save more every day!

1. Decide if ‘Need’ or ‘Want’

At the end of every week, decide for each expense, if it’s a ‘need’ or a ‘want’ and fill in the Needs (N) or Wants (W) column as we’ve done in the example diary below.

RYS_graphic1_A2_snapshot 1_webready

It’s not always easy to decide whether an expense is a ‘need’ or a ‘want. A ‘want’ can definitely sometimes feel like a ‘need’!

Here’s some helpful ways to check if an expense is a ‘need’ or a ‘want’ …

→ Remember: We should always pay for our NEEDS first. If we have money left over, we can then choose to spend money on ‘wants’.

2. Choose ways to spend less…

Use the questions below to help you reflect on your spending over the week. You’ll be surprised by how much you’ll learn about your spending habits from your diary! 

1. Can I reduce my spending on ‘wants’ to help me save more?

e.g. EZ link top up, remittance

2. Can I plan my spending on ‘wants’ better?

e.g. buy the ‘wants’ that are most important to me and my family first.

3. Can I spend less on my needs?

e.g. find a cheaper phone contract or walk short distances instead of taking the bus?


Here’s Indah’s reflections…


A I probably didn’t need that top? Must think before buying!

B It was fun to meet up but maybe next time we could spend less  on lunch!

C I’ve heard Nur has a cheaper phone plan, will check that out… 

Next, make one simple change…

Reach your monthly savings goal faster by changing one spending habit!

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