Simple Things You Can Do To Save Money
Being financially healthy is not only about earning big bucks, but also how much you save. Living in Singapore is not cheap, but here are tips you can practice in your daily life so that you can go a long way with a dollar. You should also educate yourself on sp electricity tariff to get the most out of your electricity provider.
- Take public transport
Taking public transport instead of the comfort and convenience of taxi rides is not a popular choice since it’s more of a hassle, but every time you choose to take public transport it saves you so much more money. Even with promotional codes on Grab or Gojek, private transport still costs a hefty sum. Public transport like buses and MRT are much cheaper and they don’t take up a lot of time considering Singapore’s small size.
- Write a list when you are shopping for groceries
Creating a list for your grocery items can help you plan your grocery trips on a more regular weekly basis than when you need to. Write down what you need and buy to keep your kitchen full for the week. This not only reduces your transport costs but also reduces any unnecessary items that you don’t need to buy as well as the time needed to think about what you have to buy.
- Support Asian produce
Asian produce is actually cheaper than other imported ones, so opt for those Indonesian potatoes instead of American ones. Many local markets offer vegetables for about a dollar or two, so that’s a lot of money saved!
- Don’t save your credit card details on shopping sites
With e-commerce on the rise, it is definitely tempting to go on shopping sprees and spend recklessly because it’s so convenient when you’ve had your credit card details saved on the site. You would probably be more prudent with your money if you have to go and get your credit card to purchase things online, so get rid of that temptation.
- Buy second-hand items
Buying second-hand items or loaning clothes is an important habit not only to save money but also for the environment as you reduce consumerism. There are many e-commerce sites like Carousell, vintage shops, and flea markets where you can buy second-hand items or hand-me-downs instead of spending a huge amount of money on new clothes and items. Furthermore, you can look into trading and buying amongst your friends as well. Buying second-hand is also an especially great option for your young children since they grow very fast and their clothes’ turnover rate is much faster.
- Invest in a good water bottle
Instead of buying bottled water every time, invest in a good water bottle and bring your bottle wherever you go. That way, you don’t have to spend money on a necessity as often and reduce your temptation of buying drinks whenever you’re eating out. Bottled water may seem cheap, but they definitely add up to a lot of money if you keep buying bottled water.
Some water bottles can last you a lifetime, and they have the benefit of looking cute instead of having a plain old plastic bottle by your side!
- Buy your coffee from a good old coffee shop
It’s much more trendy to buy branded coffee from cafes like Starbucks, but they cost a ridiculous amount of money. You can save at least $4 every time you choose to buy your coffee from a local coffee shop instead.
- Eat cheaper by going to the hawker
Singapore is known for its hawker culture, where you get an array of food varieties from all over the world, but is also much cheaper at the same time. This is an important habit especially if you are an office worker, where you eat out all the time. Head on over to your nearest hawker instead of that fancy restaurant.
- Look out for promotions
Whether it is a movie night, beauty products, or a meal out with your family and friends, you could definitely use some help by using promotions. It is as easy as looking at the cinema or restaurants’ websites and see which credit card promotions or deals there are. Furthermore, it obviously costs less to watch movies on weekdays than on weekends, so try to watch them on weekdays if you have the time. Lastly, you should wait for a few days for the ticket prices on blockbuster movies to reduce back to their normal prices since they are usually inflated during their first few days of the premier.
As for get-togethers outside, you could always wait for Happy Hour so that you can get together with your friends to hang out without breaking your bank since a lot of food and drinks are discounted.
The smart thing to do is to always look out for discounts and promotions before you buy something, so start practicing your hunting skills!
- Workout at home instead
It is a misconception that people have to go to the gym to get fit or stay healthy when you could always exercise at home. You don’t have to buy a gym membership or a fancy pilates class when you can do a lot of the same workouts at the comfort of your own home, for free.
Look for exercise videos to follow and you will find that you can also break out a good sweat at home!
- Switch up your activities
You don’t always have to spend your free time going to shopping malls and spending your money or to the amusement parks. There are plenty of activities that you can do for free and are also family-friendly.
When was the last time you spent time enjoying and basking in nature? Singapore has many nature reserves and parks you could go to, like Coney Island where you can go to cycle. An indoor-alternative would be museums because they have free entry. Take this time to appreciate the arts, history, and culture of Singapore and many other places.
- Prep your food
If you can cook, try to pack your food for lunch instead of buying lunch. You could also pack your leftover dinner from the day before so you can save more money on food. This is extremely useful for those who work in expensive areas where the food is always much more expensive. Furthermore, packed lunches mean that you don’t have to spend time going out and queuing for food.
- Use cash as much as possible
Speaking about the convenience of credit cards, they also tempt you to spend more recklessly and mindlessly even for physical purchases. Using cash is also a stark reminder of how much you are spending, and you tend to feel the pain of it more than when you are using credit cards. Leave your credit cards back at home and challenge yourself so that you have more control over your purchases. Buy only what you need and you’ll find that you are saving more money.
- Cut down on electricity and water usage whenever possible
Reducing the use of electricity like the air-conditioner at home can really help you cut costs. Other obvious habits that you should practice is to turn off the tap when you are soaping and switching off your fan when you are not in the room. When you are brushing your teeth, try to use a cup of water instead of using the water directly from the tap to save water.
- Buy in bulk
For dry groceries or non-perishable items, buying in bulk can really help you save costs and you don’t even have to worry about their shelf-life. Bulk-buying can also be useful if you have family members and friends you can share the bulk purchases and shipping fees with.
- Share subscription services
If you’re a big movie or show person, or just can’t live without music applications like Spotify, you can definitely save money here by sharing your subscription service with your family or friends. The larger the number of members, the cheaper it is for you, so start hunting for people and groups to share subscriptions with!
- Review your insurance policies
It is imperative that you review your life insurance policies every year so you make sure that you are not overpaying for premiums. Take the time to check what benefits you are eligible for and see if you need new coverage. Our needs can change, so it is best that we review them regularly to keep our policies relevant and yourself adequately covered. There could be policies that are more valuable as well because insurance policies are constantly updating to better cover clients with a better value.
Conclusion
As you can tell, the tips for saving money may not be revolutionary, but a little goes a long way. You don’t have to do them all, but try out some of these tips. They will definitely help you to cut down on unnecessary costs.
I’m a 20-something stay-at-home mother and wife. I have an amazing husband, a beautiful daughter, two loving dogs, and a lazy cat. I wouldn’t change my life for anything! I love to read, listen to music, cook and blog!
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