A method for monitoring water consumption of a washing machine, comprising: the washing machine executing a clothes washing procedure and receiving a water level setting instruction; the washing machine executing the clothes washing procedure and acquiring opening time t of a water intake valve from start to end; the washing machine calculating the water intake flow of the water intake valve Q=Q0+ΔQ, and calculating the water consumption W=Qt; wherein with a normal water pressure and no load, when the water intake of the washing machine reaches the level, the theoretical flow value is Q0, the theoretical water intake time is t0, ΔQ is a flow correction value, ΔQ is calculated from a time difference (t−t0) and a correction coefficient k, and the correction coefficient k is a preset fixed value.