Every year, I will review how much I spend for the year.

I will carry on the tradition for this year.

There is a difference between budgeting and tracking your expenses. Tracking your expenses tell a person or an entity what they spend in the past. If you do not review it and have no aim for it, then tracking your expenses does not do much.

Thus, tracking your expenses serves more to be conscious about the past so that you can set some goals, form some good habits to change your spending pattern along the way.

To effectively plan for your financial independence, you would need to know how much you spend.

Many find it a chore to track their expenses. It is an indication they probably value their time now more than having some money security. What is conscious gets managed.

It is also normal