At the start of the year, I would usually report how much I spent in the past year. In this post, I will share my spending in 2023. I learned from somewhere that we would usually allocate our income with this framing:

1. Spending for today– These are our current expenses.
2. Spending in the past– These are the repayments on the debts we owe.
3. Spending in the future– These will be our savings and investments. They are meant to fulfil a life goal in the future, which will require some money.

You can decide how much to spend for today, the past and the future. There is a tradeoff to saving up money to spend in the future, and we should all recognize that. Unfortunately, some fail to recognize the tradeoff, and they struggle with living life with money. Reviewing our spending is a way for us to be more conscious about our spending. Just yesterday, my Singapore Financial Independence...