How to easily save money in Singapore

It doesn’t matter how much you earn for a living but how you spend it. For you to earn financial freedom, saving cash must be part of your budget on a constant basis. Sometimes life can choose to go the opposite direction on you e.g. losing a job/business or even having health challenges. The only thing that can sustain you during such tough times is your savings.

Singapore, having been considered to be among the most expensive cities in the world can easily push one to a point of lack due to the numerous luxurious lifestyle options available. However there are several ways in which you can minimize your dollar to enable you create that healthy saving culture that will eventually lead to financial dream. This is by simply making some simple lifestyle adjustments and still live as comfortable as ever.

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Daily habits to help you save money in Singapore

1. Cook your own meals

A survey conducted by HPB (Health Promotion Board) revealed that over 60% of Singaporeans eat out approximately 4 times every week because their busy work schedules. However, preparing and eating your own food is not only healthy but cheaper compared to eating out. It will also keep the doctor away thus increasing your savings. So instead of eating out during lunch time at work, just cook and pack your lunch.

2. Spend on a budget

When you go shopping, especially for groceries, it’s always tempting to buy anything and everything when you have enough money for spending. How about creating a list of the items you only need (like for the whole week) and stick to it, before going to the shopping mall? Again Start buying in bulk because it’s cheaper. This focused kind of shopping will help you reduce wastage especially on food.

3. Take MRT/bus not taxi

Public means of transport has and will always be cheaper than private means. So, instead of reaching out for Grab driver, which is a click away through your smart phone, always travel using public means, unless it’s an emergency. This will save you a lot of unnecessary transport cost.

4. Work-out from home

Did you know that everything you do in the gym or yoga studio can be done at home? With today’s digital evolution, there’s plenty of DIY tutorials online (e.g. YouTube) to make use of. Better yet you can invest in a simple home gym and cancel that monthly gym membership fee.

5. Quit impulse buying

Impulse buying can easily drain your finances; the best way to cub this habit is to learn to use a credit card or carry just enough money intended for the exact items you’re going to buy.Some more tips will also include carrying drinking water on a bottle to work instead of buying, learning to say “No to money-related peer pressure”, minimizing on coffee dates and maximizing on “happy hour” when socializing with friends or colleagues.

Final thoughts

Stop wasting your hard earned money because every dollar you spend unnecessarily today is exactly what you need to create that financial future you’re dreaming of. So make the adjustments and start saving today.

Bugis Trusted licensed Moneylender – Singa Credit Pte Ltd

Established in 1992 and previously known as Yong Seng Credit, Singa Credit Pte Ltd is licensed Moneylender in Singapore and regularly updated with the latest regulations to be in line with the requirements set out by Registry of Moneylenders.Please feel free to call 66946166 for more info on our 1% rate lowest in Singapore or walk in our office 470 North Bridge Road #02-01 Bugis Cube Singapore 188735.