Being one of the most expensive places to live in, many people in Singapore don’t always spare enough money to save. For most people, it is very common looking at your bank and wondered where all your money went. You probably had a budget that you were sticking to but you still ended up cashless and getting a payday loan from licensed money lenders.
So what really happens? Saving money may seem much interesting at first when you have a budget, but with time you may feel pressured and lose motivation. Many a times, we tend to spend more on unnecessary expenses and impulse buying. When these things are done repeatedly or daily, they even hurt our pockets more. Since we live in a world of gratification, it is very important to try as much to stay focused on how you are spending. So how do you do that without feeling much restricted? There are small cost cutting ways that can actually help you cut on your expenditure without feeling the pinch.
To help you, I have compiled a list of 5 Easy Ways To Save Money On A Daily Basis up to $100 per month.
Eat Local
It is arguable that eating local is the number one tip when it comes to eating on a budget. Your main aim should be to avoid eating in restaurants especially those fat food restaurants. Wherever you work at, you should try and find the nearby hawker centres where you will be able to find local food. When you find a good place, proceed to find out if there are memberships cards for frequent customers. Getting a membership card will help you enjoy discounts which in turn save you money. Although the discounts may seem like a small amount, when you add them up you will be surprised in the end. Another important thing to do is to download apps like Eatigo which gives people discounts when they dine during off peak hours.
Estimated Cost Saved – From $5 to $10
Cut on Coffee
You have probably read somewhere that cutting down on your coffee intake can help you save money. This is very true as most people cannot start their day without having at least one cup of coffee. If you are someone who likes going to the coffee shop, you should first shift from going to your local coffee shop to making coffee at your home. If you are already having yours at home, you can start by switching from the gourmet variety to the local variety. After that you can then try to cut on the number of cups you consume that is if you are a heavy drinker. This will not only help you to save more money, but also live a healthier life.
Estimated Cost Saved – From $5 to $10
Use Public Transport
In the current world, the largest number of people uses public transport and it is for a good reason. Through using public transportation, people save a good amount of money while also easing congestion on the roads. MRT and buses convey more people which means that it is much more eco friendly as much as it is inexpensive. However, the problem comes when you work late or even at night. In this case, many people opt for cabs to help them reach home much faster. However, instead of booking a cab you can choose to use services like Grab Hitch which are less expensive. In addition, they will also allow you to share your ride with any other person travelling your direction thus saving on travelling costs.
Estimated Cost Saved – From $8- $15
Buy In House Brand Products
House brand products are one of the fastest growing products leave alone popular among many people today. When you go shopping in places like Watsons and Guardian, you will be surprised to learn that they have in house brand products. Apart from providing consumers with a wide range of choices, they also help them save much on food expenses. In most cases, you will realise that when compared to national brands, the difference is very small in terms of quality except that they are only much cheaper. In house brands are much cheaper because they don’t incur the research and advertising costs that their counterpart national brands incur. By buying in house brand products, you can save up to 33 percent of all your grocery expenses. In addition to these benefits, you also get to receive a 10 percent discount on the in house products found in Guardian, Giant, and Cold Storage by just using UOB Delight card.
Estimated Cost Saved – From $2 to $4
Use the Right Credit Cards when buying Grocery
Eating out is one of the things that make many people spend much on food. This is why it is advisable to cook at home whenever you have the time to do so. Eating home enables you to save on the money that would have been used on tax and tips. However, you should also work on improving your daily expenditure on groceries. There are many stores including Cold Storage that offer you up to 8 percent discount when you shop using UOB Delight credit card. You should also always be on the lookout for other bonuses and incentives from grocery stores like holiday bonuses, double coupons, and members only pricing. You should then proceed to take advantage of these offers by using the right credit cards whenever you go out shopping for groceries.
Estimated Cost Saved – From $8 to $15
Conclusion
To save money you don’t have to live a very hard life. With just these simple tips, you can save more than $100 within every month. By just making small changes in your daily life, you can actually save a lot. From impulse buying to shopping for food, by just incorporating these simple hacks you will be able to make a big impact in your bank account. Regardless of where you are starting from or where you want to save, with time you will find that you have achieved your savings target. All you have to do is track all the progress you are making while also trying to increase it day by day.
