Just because you have money in your savings account doesn’t mean you have to spend it.
It’s not about how much you earn, but how much you save and what you do (invest!) With that money.
You may think paying a few more dollars isn’t a big deal, but over time it adds up quite a bit. This, in turn, will affect your FIREABILITY if that is your ultimate goal.
If you want your wealth and savings to grow, you need to make sure the money you come in exceeds your expenses. However. We understand that it may not be easy for everyone as different people have different situations and have to deal with financial obligations.
Why people can’t save
We’re sure you’ll hear your friends complain about how broke they are for not getting paid enough.
However, the real reason they are broke isn’t because they don’t make a salary – that’s how they spend their money.
If you are desperate enough to break out of this broken pit, you will budget yourself properly and follow a disciplined lifestyle. That’s entirely possible if you stop eating out every other night and buying unnecessary things.
Do you want to save? Get advice from thrifty people
One of the best ways to make your life (and your bank balance) better is by mimicking the people who get it right.
It doesn’t mean you have to completely copy their lifestyle, but just to find out what they are doing, save and see how you can apply some of these habits into your own life.
One way thrifty people save is to live below their means. For example: between a $ 10 salad and a $ 5 meal at a hawker center on a normal work day, they would usually choose the latter (although they can afford the salad very well) because it’s cheaper.
You can argue that saving $ 5 is insignificant, but remember that every drop makes up an ocean.
That’s a $ 100 difference in a month and $ 1,000 a year, assuming you go to work 20 days a month.
1. Don’t pay full price for anything when you can
eat
There are always ways to get discounts on food. Before choosing a restaurant, check to see if there are any promotions for apps like Eatigo, Chope, and Burpple!
Personally, I love Eatigo because they have discounts of up to 60 percent, which makes your total bill really affordable – under $ 10 per person when you eat at select restaurants at selected times!
The offers for Eatigo are always changing. So be sure to check in (usually on the day of your excursion) before you set off. It’s okay for you to make changes to your plans as you can cancel up to a minute before your reservation.
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If you are too lazy to check out these apps, there is always an option to hire your friendly street vendors. A meat and two vegetable dishes cost between 3 and 4 US dollars at the economic rice stand. If you’re on a really tight budget, there are restaurants that offer full meals for as little as $ 2.50, such as: B. 63 Laksa.
In fact, you can even get your meal for free when you offset it with your $ 100 CDC Coupons, introduced as part of the Singapore Budget 2021.
If possible, avoid expensive grocery deliveries. Instead, opt for Foodpanda pick-up as they offer meals that are sometimes cheaper than buying them directly at the restaurant.
free time activities
Check out Fave and Klook and keep an eye out for coupon codes that may give you extra discounts on your package. You can save even more, especially when you use these promos along with your SingapoRediscovers vouchers.
Fave often has flash deals that give massive discounts. Thanks to these deals, facials can cost as much as $ 9 and $ 34 for a three-hour spa offering.
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Note that you have to pay the full price first and your cashback will appear in your fave account three days after purchase or after redemption, whichever is earlier. This cashback can then be used to offset future favorite purchases.
Klook has a wide variety of promo codes at any one time. For the latest, check out Singsaver’s Klook promo codes in Singapore 2021.
Carousell is also a fantastic platform for getting dirt cheap stays, movie tickets, attraction tickets and more due to last minute cancellations.
However, you need to be careful as fraud is rampant on the platform. Before buying, be sure to read the seller’s reviews and insist on cash on delivery if possible.
Shopping online
Be on the lookout for Shopee’s 10-cent sale, which takes place on the weekend, usually 1pm to 2pm on Saturdays. Since there is no definite schedule for such sales, you will need to check in regularly.
Why the 10 cent sale is good: You can get handy items like wallets, shoulder bags, masks, hair ties, screen protectors, socks, and more for just 10 cents (including shipping).
Upon receipt of the product, leave a review in exchange for Shopee Coins that can be used to offset future purchases.
The general rule of thumb is to always find promo codes before buying anything online and stack promo codes whenever you can. Some websites that allow this are Shopee, Zalora, and Lazada.
Groceries and household items
Don’t just buy from the first store you see. Go around different supermarkets to check where your item is cheaper and make a note of the prices so you won’t get past a good deal next time.
Beauty packages
There is always room for negotiation when you sign up for any beauty package, including facial, wax, massage, and IPL packages. Your esthetician has the power to lower prices and introduce upgrades.
Even if you’re genuinely interested, don’t look overly excited. Imagine yourself thinking and saying things like “I’m not sure” or “I need cash”. Because they want your business, they will work with you to develop a payment solution.
If you’re happy with the price (and if you’re really not in need of money) ask them to offer an additional free session or product when you sign up and offer to pay in full on the spot.
If they’re hard to sell and you feel uncomfortable, just walk away.
Stock broker
Register with moomoo, a Futu SG trading platform, for one free AAPL share.
Tiger Brokers is also currently offering a free share of Disney, 500 Tiger coins, 60 commission-free trades on US stocks, Hong Kong stocks, Singapore stocks and futures within 180 days of signing up, and stock vouchers worth up to 100 US dollars. Dollars at when you relate a friend.
insurance
Cut out the middleman (financial advisor) and buy insurance directly online from Singsaver. Not only are the premiums cheaper, you can even get a 15 percent discount and USD 110 cashback through PayNow if you use the promo code SSHOME5Y when you apply for TIQ Home Insurance (HDB).
Credit card
If you’re new to a bank, sign up for Singsaver for various perks like cashback, a stay at Andaz, and the latest equipment, including a free Dyson AM07 tower fan, the Apple Watch Series 3, and AirPods Pro.
2. Think ahead when shopping – you can get cheaper rates and better seats / rooms
Flights
If vacation travel permits, ask reception when checking in to see if free upgrades are available. The chances are higher, especially if you are a frequent flyer with an airline. You can also book connecting flights with short stopovers instead of direct flights at significantly lower prices.
For example: the typical cost of a direct round-trip flight from Singapore to Seoul is between $ 900 and $ 1,000. But I only paid $ 380 for a round-trip trip to Seoul with a short three to four hour stop in Bangkok through Airasia.
Hotel booking
The earlier you book your room, the cheaper and more options you have, especially when booking for occasions like Valentine’s Day. Of course, different websites and hotels differ in price every day, so you need to keep an eye on their prices.
When you check in that day, you are subtly asking the front desk to do a late check out or a free room upgrade.
3. Milk your credit card for miles / cashback / rewards
If the store only takes cash / NET they will not be patronized. Why spend your money on nothing? Was just a joke.
If you spend on different credit cards, you will often receive cashback, rewards or miles which you can use to redeem free flights in the future, for example.
4. Bargains, bargains and bargains
When buying something in person, ask for a discount or a free service. But of course you have to choose the right situation.
You don’t go to the aunt who sells tissue paper below the MRI and tell her you want to buy her entire 10-pack for 50 cents.
However, you have a lot of bargaining power with hotels, clothing, weddings, beauty packages of any kind, or anything that you deal with sales representatives. But of course don’t go too far and throw them down.
And make sure you are genuinely interested in buying, if not you are just wasting everyone’s time.
General tip of the day: Just ask. At most, you’ll get a rejection, but at least you’ve tried.
ALSO READ: 7 Online Shopping Hacks That Should Save All Singaporeans Money
5. Frugal people have the power to go away and they are not afraid to say no
If you’re forced to spend more than your budget, just walk away or say “no”.
It is a fact of life that not everyone will be on the same page financially. So don’t be afraid of judgment or judge others if they are unwilling to get the same amount of money as you.
Remember, real friends won’t fire you just because you don’t want a share of their $ 2,000 yacht rental for someone else’s birthday party.
This article was first published on SingSaver.com.sg.
