Asked by Anonymous

Are there periods in your life where your spending habit changes? Are there ways to manage such transitions and should I worry?

One transition I had was when I started wearing contact lenses. This resulted in an increase in grooming expenditure (buying lens solution and the contacts itself). As I classified it as a necessity then, I realise I had to increase my budget for grooming, hence resulting in "lesser" savings.

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  • Xinyi Lum
    Xinyi Lum, Content Strategist at Seedly
    Level 5. Genius
    Answered on 15 Jan 2019

    I really like this question! I think it goes without saying that spending habits generally increase very very significantly when one graduates from school and transitions into a full working adult. But now that you mention it, I think I tend to spend a lot more at the end of the year. It's also quite a proven trend amongst the Seedly community and my colleagues haha!

    I believe that this rise in spending is partly due to the festivities, and also the fact that you tell yourself you've worked hard all year and it's time to reward yourself. You reward yourself until the new year comes around then you snap back into it and realise how much money is gone and you try to go back to your frugal ways. I admit, that's me every year! Thankfully, my Seedly expense tracking app reminds me how much money I could have NOT spent instead...

    I usually spend a couple of minutes at the start of the month listing out what are some major payments/purchases I would have to make for the month and how I can improve from the past month, be it drinking one less cup of coffee a day or choosing a house brand when grocery shopping each week.

    Some things I won't scrimp and save on la....enjoy life a bit more I guess! :-)

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    • Question Poster
      Thanks for your reply! Yes I had started work around four years ago, and I found my spending habits change as my life goals change. E.g One of the goals I had last year was to meet up with more people, and cost went up as I scheduled for meet-ups at cafes and restaurants. I think it took me a few months before I realise (as I was busy meeting and scheduling). After that, I try to go to cheap yet highly recommended places, so it shows some thought has been put to it. Times like this made me realise getting finances on track can become a real chore. Therefore being on the seedy platform helps assure that I am not alone in this, and makes the finance journey a lot more smoother. haha trying to end off in a light note. :)
      18 Jan 2019
  • Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    Level 6. Master
    Answered on 15 Jan 2019

    One of them is definitely how I treat my fitness.

    It used to be soccer at void decks, or volleyball in school.

    Now whenever we meet for sports, we have to pay for courts, and coordinate timings. Otherwise, we would also be spending on gym.

    Fitness used to be cheap, now it's rather expensive!

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    • Junus Eu
      It can be cheap/free! Pull up bars at the parks :)
      3w ago
  • Jonathan Chia Guangrong
    Jonathan Chia Guangrong, Fund Manager at JCG Fund
    Level 6. Master
    Answered on 15 Jan 2019

    Well for me, it's like the opposite of your situation. I was pro contact lenses till one got stuck in my eye a few years back. Switched to glasses since, which saved me a lot in terms of lenses and cleaning solution. If you are working, you may wanna check if you can submit claims for vision care expenses? Some companies like mine cater for this to a certain extent

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  • Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered on 14 Jan 2019

    I grew fatter thus eat more and spend more on food. Now trying to lose weight and started to track my spending, still spend most of my money food but slightly better than last time i think.

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    • Junus Eu
      I've been practicing intermittent fasting for around 3 years now - it's definitely a way to lose the excess body fat, and also saves me money because I don't spend on breakfast as I used to do :)
      3w ago
    • Nicholes Wong
      Haha yea i do intermittent fasting as well.
      2w ago