Track expenses down to the cent – or keep it simple? Find something that works for you
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(From left) Straits Times senior business correspondent Chor Khieng Yuit, alongside Tan Huey Min, general manager of Credit Counselling Singapore, and Leon Loh, financial services consultant at GEN Financial Advisory, at the Straits Times InvestMe session on Sept 17.
ST PHOTO: JASEL POH
- Experts recommend setting clear goals, budgeting, and tracking expenses to manage personal finances effectively and enjoy life without overspending.
- Different methods suit different people, from detailed daily tracking to using separate accounts for spending and savings to control cash flow.
- Those with irregular income face challenges but can adjust budgets flexibly, while setting aside 'fun money' helps balance enjoyment and financial discipline.
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SINGAPORE – “What gets measured gets managed” is a corporate maxim that applies equally to personal finances.