How should I deal with the anxiety and fear of spending money?

Hi woyaokuaile,

First off, don't be too hard on yourself because I think it's normal to worry about money. I certainly worry about money and have even written an article about how to control my worrying. I think it may be worth your while to sit down and reflect on the reasons that lead to such money anxiety. Could it be traced to how you were brought up (= how your parents utilized your money)? Could it be because of your fear about securing a job after graduation? I reckon understanding the reasons for your anxiety will help you manage it.

I think Zhe Liang's suggestion about budgeting is good. To add on to his point, I think it's better to be clear about how much you will like to save and set yourself a deadline towards achieving it. My wife sat down to calculate her sums one day, decided that she would need to save around $1000+ every month in order to accumulate enough retirement funds and then gave herself the permission to spend the rest of her money without guilt.

As for me, I am not the type of person who likes to "limit" himself to a budget, but I have decided to top up $7k to my CPF SA account every year (which means that I will save at least $7k within a year). So, a more relaxed saving goal.

Hope these words comfort you somewhat. Happy Chinese New Year!

Just wanted to speak from experience as I do suffer from a similar experience.

I spend way too much time trying to stretch my dollar, to spend only when there are discounts and promo on 'luxury' stuff like bubble tea and non hawker fares.

It's a kind of poverty mindset to make up money with time. While money can be earned, time well spent and good memories are hard to create.

My advice to my past self will be to set a budget, treat yourself from time to time and not be too uptight over money. Happiness is much more important than the numbers in your bank.

It has improved since I started working and is drawing a salary. I wish the best for you. Stay happy and healthy. Always wished I did more back in school. Enjoy your schooling years