Grow Your Own Money Tree
Hong Ha Sunwoo  |  smt_sw94@sm.ac.kr
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2014.10.09  19:23:24
트위터 페이스북 미투데이 네이버 구글 msn

How much did you spend today?  Did you buy a cup of iced Americano coffee, have lunch with friends, spend money on transportation fee?  Maybe you only remember that you spent money today.  Or maybe you are wondering where and why did I spend my money?  In elementary school, you would have been taught to keep a record of income and expenses.  Returning to smart consumption, Sunwoo, a reporter for the Sookmyung Times, recorded her spending habits over a 10-day period.


Dig and Plant Seedlings


Looking at your bank account, you might wonder where you spent your money at the end of the month.  You might also wonder where's my money disappeared to or how could I have spent so much?  In elementary school, we are taught to keep a record of our spending.  However, according to survey of 409 college  students, only 6.7% of students follow a budget or keep a record of their spending.1  These days, there are many ways to record one’s spending.  Downloading an application is the easy method for university students as they use their smart phones almost every day.  Also, use only of a debit card to manage your money is another easy method to practice because these days debit cards can be used almost everywhere.  However, before downloading an application, there are some important things to remember.  In addition to recording your spending, you should be determined to cut down on expenses, and after finishing your daily work, you need to take time to reflect on how you used your money.

Watering and Nourishing the Young Tree

Searching for a household ledger application, I found a good application named Weple Money.  It is well categorized and simple to use so I selected the application. (Unfortunately, the application is only available to iPhone users at the moment, but there are many good applications on Android, too.)  At first, I set myself the goal of a minimum of 50,000 won for my little brother's birthday present.

Day 1

I received my monthly pocket money (350,000 won) from my parents.  I recorded the amount and categorized it as income. When input in the application as income, the application colors it green while expenses are colored red.  On my way home after classes, I bought a cup of coffee, but at first, I forgot to record the expenditure.  It was hard to remember to record all particulars on the application.  Typically, whenever I met friends at a café, I spent roughly 3,500 won for a cup of coffee. Watching me enter my expenditures on my application, one of my friends became determined to keep track of her finances as well.

Interim Check (Day 6)


I had to do an interim check on the 6th day.  I looked at the graph that showed how I had spent my money.  I had already spent about 50,000 won in just under a week.  If I were to use my money this way continuously, I wouldn’t have enough left over for my brother's present.  The most problematic point was that I spent too much money on food, especially coffee and other snacks, so I decided to spend less on coffee over the next few days.


Day 10

Decreasing my consumption of coffee, I found I saved a lot. Before using the application, I spent money without concern by using my debit card.  After keeping track of my spending, I saw my income and expenses clearly.  It was easy to find my problem.  Now when I use my money and debit card, I enter the data into the application right away.  Kim Jinhee, who started keeping track of her money with me said, "Before using the application, sometimes I found myself broke though I didn’t know where I had spent my money.  Keeping a record, I can control my money efficiently."

Pick Fruit from Your Money Tree


Carlos Slim who is one of the three richest people in the world has kept an account of his spending and earnings since childhood.  He learned how to care for his finances and that habit was the foundation of his road to riches.  It is hard at first to form a habit of keeping track of your finances.  I recommend setting a goal for saving money and then downloading an application.  It is also fun to compare feedback with your friends and others. Download an application and get started right away!


1 Son Bongseok, "How Much Pocket Money College Students Use," Kyunghyang News, October 14, 2011

Hong Ha Sunwoo의 다른기사 보기  
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
A Never-to-Be-Forgotten History: The Path to Democracy
PyeongHwa 2018
The Flap of Wings to Embrace and Heal the Day’s Sorrow
Not My Mister
A Better Society for Young People
Which Way?
Speak to Sookmyung: the Workers’ Rally
Treat Yourself with Snacks during Midterms
Series of Lectures for Innovative Leaders
Let's Start with a Test Market
숙명타임즈 소개기사제보광고문의불편신고개인정보취급방침이메일무단수집거부청소년보호정책
The Sookmyung Times is published monthly by the Sookmyung Times Office at the Student Building Room 308,
Student Union Building Room 308, 100, Cheongpa-ro 47-gil, Yongsan-gu, Seoul, Korea, 140-742. *Registration No. Ra-1783, Oct. 25, 1973
Tel : 02)710-9151,9722   |  Fax : 02)706-2695   |  청소년보호책임자 : 김주희   |   Copyright © 2007 숙명타임즈. All rights reserved.