Earning Well at 20 but Still Saving Almost Nothing — Where Is My Money Going?
I’m a 20-year-old guy working as a freelancer, and I’m fortunate enough to be earning a pretty good amount. The problem is that despite earning well, I’m barely saving anything.
I don’t really spend money on expensive clothes, gadgets, or other flashy things. I do waste some money on things like games, but nothing that should explain where all my income is going.
For the past year, I’ve also been financially supporting my entire family because my dad lost his job and has been unemployed since. Around 30–40% of my income goes toward household and family expenses. I’m completely okay with supporting them—that’s not what frustrates me.
The frustrating part is that I have no idea where the rest of my money goes.
There’s usually one big household payment at the beginning of the month, followed by lots of small payments almost every day. By the end of the month, I look at my balance and wonder where everything went.
I’ve realized my biggest problem isn’t necessarily how much I’m spending—it’s that I have no proper system for tracking or controlling it.
For people who’ve been in a similar situation, how did you fix this? What’s the simplest way to track income and expenses when you have lots of small transactions throughout the month? I’d especially appreciate advice from other freelancers or people supporting their families.