1. CREDIT YOUR SALARY
Get your salary credited into your bank account to dismiss the lure of spending your it right away. Update your bank account details with your employer and follow the terms and conditions of your bank so that your income gets credited correctly. In Singapore, these two savings account will give you the best interest rates per month: OCBC 360 Account and DBS Multiplier Account.
2. CONVERT YOUR CASH
According to the Economist Intelligence Unit, the US dollar has been stronger while the Euro weakens. If the above hack does not work, try converting some of your money to US dollars. This way, it is more inconvenient to spend. The thought of having to go for and pay for the currency exchange will likely to dissuade you from spending!
3. LEARN TO COOK
If you want to save money on food, it is best to learn how to cook. Start cooking simple meals with ingredients that are easy to obtain such as Omelet, Scrambled Eggs, Fried Rice, and Chicken Rice. Consider going to the wet market as items are sold for a cheaper price there. Remember that aside from rent, your food expenses make the largest impact on your budget.
4. READ BOOKS FOR FREE
To satisfy your bookworm urges, visit the nearest public library and rent a series of books – for free! While you are there, you can catch the free financial talk entitled “MoneySense@The LLiBrary: Understanding Loans & Credit” on April 14, 2016. Go to nlb.gov.sg or more details.
5. GET THE CHEAPEST GYM MEMBERSHIPS
It is no secret that Singapore’s fitness centers are expensive. And let us face it, most of you will not even use your membership perks to its fullest! Thus, it is best to go for the most affordable gym memberships such as the ones on this list. Alternatively, you can make use of your school’s facilities as most universities are fully equipped with gyms and other facilities.
6. EXERCISE FOR FREE
Aside from sweating at the gym, get fit by exercising outdoors. Satisfy your weekly dose of exercise by running in the nearby pavements, park or park connectors. You can also cycle around if that is your cup of tea.
7. GO FOR THE LAST YEAR’S MODEL
To save money on your next smartphone, consider purchasing the last year’s high-end phones such as the Samsung Galaxy S6 (the Samsung Galaxy S7 has been released last month). To save even more, you can review the well-designed phones offered by “less popular” brands such as Xiaomi.
8. DON’T FALL FOR THESE TRAPS
Aside from the diversity of eateries, Singapore is known for the diversity of shopping centers. Naturally, tourists fall prey for the huge “SALE” sign on the window of most shops. However, if you lived here long enough, you will realize that sales happen all year round. As long as there is a public holiday coming up, sale signs will be up too! So only buy an item if you really need it!
Image Credits: pixabay.com (CC0 Public Domain)
