Time for a haircut or manicure? Look out for professional trainees who provide similar services for free or at discounted prices. These are usually offered by personal grooming schools such as hairstyling or beauty service academies.
This may seem like a health tip, but making the effort to drink water could bring you great savings as well. Firstly, opting for water over sweetened drinks helps you cut back on your beverage expenditure. At the same time, drinking water regularly helps you feel full. This way, you are less likely to over-order from your favourite economical bee hoon stall.
Passed by a storefront and see some shoes, a bag or a gadget that you must have? Stop! Take note of the item, its price and the date, then stick this note somewhere visible (you can also use Pinterest or your smartphone for this). For the next 30 days, think through whether you really want or need it. When the 30 days are up, and if you still-must-have-it, then go ahead to get it. This way, you make sure that it’s not an impulse buy. The benefit of this is you may find better or cheaper alternatives in this 30-day window!
Look for a good finance tracker app to track your savings progress regularly; it’ll keep you motivated and instil good financial discipline! Apart from cash savings, look at the bigger picture to evaluate your financial standing. The CPF Starter App helps you see how you can better use these savings for your housing, healthcare and retirement needs. There’s even a tool to project how your CPF savings will grow over the years.
Ditch brand-name items for daily essentials such as rice, oil, sugar, paper towels, cereal and noodles. Local supermarkets offer a huge range of ‘house brands’ which are much cheaper and will make a smaller dent in your monthly grocery bill.