Have you ever took out your wallet one day, only to be shocked by the staggeringly small amount of money you had left? Or being just one click away to purchasing that new gadget you had your eyes on, only to find that you have insufficient balance left in your bank account? Have you ever found yourself wondering: “Where did all of my money go?”

    The most essential part of managing your finance is to keep track of your spendings. Fortunately, we live in the age of technology which allows us to track the flow of our money at our fingertips. The abundance of money managing apps online gives us the freedom to choose and download the one that suit our needs or even aesthetics the most. So pick any one that you like, and download them on your devices.

    Once you have a platform to list down and view all your spendings and income sources, you should gain a clearer idea of how you want your spendings to go, making it easier to create a budget afterwards. Make a list of your weekly or monthly estimated expenses and include essentials such as groceries, food, laundry and school supplies and non-essentials like socialising and entertainment, and make sure that none of your monthly spendings exceed your allowances or income.

    Of course, all these are easier said than done. Depending on your spending habits, you may have to change and learn to restrain yourself. If you’re an impulsive shopper or spender, start by learning to distinguish between “needs” and “wants” and your priorities. Do you “need” to spend the majority of your allowances on an expensive pair of shoes, only to proceed to cut down on food by eating less? Before making that purchase, think of what it will do to your budget, and if it is worth it.

    Managing your spendings and finding ways to reduce them is a skill and a habit that requires dedication and even patience, but once you get the hang of it, your wallet and bank account will thank you. Plus, honing it now as a student will give you an easier time later on in life after you’ve graduated. So start tracking your expenses, save those coupons and vouchers, and save away!