...... start with your daily expenditure!
1. Reduce on transportation
Take public transport like bus or MRT instead of waving ur hands out for cabs or driving to work and shopping trips. Alternatively, you may join a car sharing programmes like Car Club. Eliminating one car could save you anywhere from $300-$800 or more each month. Other cost you will save are probably your petrol consumption, parking fees, ERP etc. Try walking for short distance if possible.
Money saved: $300 – $800 per month.
- Unplug appliances (which can still suck up to 40% of their normal energy usage even when turned off) when they aren’t in use, take shorter showers and turn off the faucet when you brush your teeth. - -- Let your hair air-dry when you can, rather than blow-drying it and only run the washing machine when they are full.
- Keep your aircon temperature set at 25degree or avoid using them at all when possible. For every one-degree change in temp, the savings could be up to 5% of your monthly bill. You’ll be surprised how much the savings add up.
**Other methods are also available on our government websites.
Money saved: $10-$60 per month.
3. Making full use of your free time
Instead of hitting the mall or splurging on wine & dine at some ATAS restaurants to meet up with your girfriends over the weekend, try working out or playing some outdoor sports together. Consider doing some volunteering work, hosting dinner parities, invite friends over wine tastings, game nights, or movie screenings and you can socialize and save money at the same time. Trade off hosting responsibilities with others in the group and make every event pot-luck or whip out dinner together. Invest in games like Kinect or mahjong to add in the fun!
Going to the mall encourage tendency to over-spent or buy unnecessary items for some.
Money saved: $50-$500 per month.
Money saved: $50 – $200 per month.
If you’re a gym rat who loves working out, this may not be feasible for you. But if you go once a week or less, try the public gym available at some community club or sports centre or even at your work place where you pay by per visit or enjoy a cheaper monthly subscription.
A few dumbbells, a good pair of running shoes, and maybe a fitness DVD or two are really all you need for the occasional home workout. Or skip the traditional “work out” all together and look for other ways to incorporate fitness, such as jogging, ball games like tennis, jumping into a pool nearby.
Make full use of your hotel gym if you are a frequent traveller.
Money saved: $50-$100 per month.
Starbucks may do its best to make us all think we need a daily dose of caffeine in the form of fancy lattes and mocha-whippa-cinos, but the $5 you’re spending each day on coffee could be put to much better use. If you can’t give it up altogether, switch to home-brewed or drink the free stuff at your office. Even cutting out the pricey coffee a few days a week can make for significant savings.
Money saved: $30 – $80 per month.
Money saved: $60-$125 per week.
Try different salons when they offer discounts to new clients, or sign up to be a hair model and receive a free cut. Visit apprentice, rather than master, stylists or book services like hair dyes, facials, and waxing at a beauty school.
You may also look out for deals from Groupon or other group purchase sites but bear in mind the black out dates and availablity of slots on weekends.
Buy cosmetics and skin care products only when they are finishing.
Money saved: $100 – $500 or more per year.
Knowledge does not necessary comes with a expensive price. Cut down on your reading expenses by buying used books rather than new, or taking advantage of your local library, where you can check out books completely free of charge. If you already have a large stack of books at home, sell or trade them for credit at a used bookstore. Travel information and cooking receipes are also widely available on the net.
Money saved: $20-$80 per month.
Money saved: $100-$1000 or more per year.
Money saved: $10-$50 per month.
Even if your coupons only save you an additional $10 each trip, that’s still $40 per month.
Money saved: $40-$80 per month.
If a restaurant that you frequent offers a reward card ($80 membership card that comes with $100 worth of vouchers kind-of-deal), sign up and take advantage of the savings, but only if you would have spent the money anyways. It defeats the purpose if you spend more than you have originally would have, just to get the bonus.
Also, take note of cash rebates or reward points that comes with the credit card when you make purchases.
Money saved: $10-$100 per month or more.
Money saved: $30-$100 a month.
Money saved: $10-$100 a month depending on your debt.
Cooking at home costs much less than going out to eat. You could get a decent meal of 3 dishes + 1 soup for less than $30 for 4 at most grocery stores, yet the same meal will cost you at least $60 in any restaurant. At that rate, cutting back on your restaurant meals by just 2-3 times per month will quickly save you almost $100. Try checking out receipes online or get the help from your friend or even your mom.
Money saved: $60-$90 per month.
You may consider taking up a part time job. Many employers are willing to take in part timers and fix the working hours according to the student's schedule. If your schedule is flexible and you are open during the day, consider contacting a temp agency. If you have office skills, you may be able to pick up the occasional day of work as a fill-in receptionist or data entry clerk.
Alternatively, you may offer odd job services to your neighbors such as providing tuition, baby seating, giving out flyers etc.
Money earned: $200-$800 a month. 1-3 times per week.
Money earned: $250-$800 a month depending on your location and size of the home.
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If you did all of these things, you could be looking at an extra $300-$1000 per month. But even doing one or two of these things on an occasional basis could put an extra $500-$1000 in your pocket by year’s end, enough for a plane ticket to hundreds of far-off destinations.
1. Reduce on transportation
Take public transport like bus or MRT instead of waving ur hands out for cabs or driving to work and shopping trips. Alternatively, you may join a car sharing programmes like Car Club. Eliminating one car could save you anywhere from $300-$800 or more each month. Other cost you will save are probably your petrol consumption, parking fees, ERP etc. Try walking for short distance if possible.
Money saved: $300 – $800 per month.
2. Reduce your power, water, and gas bills
There are several ways to reduce your utilities bills:- Unplug appliances (which can still suck up to 40% of their normal energy usage even when turned off) when they aren’t in use, take shorter showers and turn off the faucet when you brush your teeth. - -- Let your hair air-dry when you can, rather than blow-drying it and only run the washing machine when they are full.
- Keep your aircon temperature set at 25degree or avoid using them at all when possible. For every one-degree change in temp, the savings could be up to 5% of your monthly bill. You’ll be surprised how much the savings add up.
**Other methods are also available on our government websites.
Money saved: $10-$60 per month.
3. Making full use of your free time
Going to the mall encourage tendency to over-spent or buy unnecessary items for some.
Money saved: $50-$500 per month.
4. Quit smoking all together
Do this for your health as well as your budget. If you smoke a pack a day, you could be wasting $10-$20 on cigarettes. Cut down, or quit entirely and you’ll find yourself with a lot of spare cash.Money saved: $50 – $200 per month.
5. Give up your gym membership
A few dumbbells, a good pair of running shoes, and maybe a fitness DVD or two are really all you need for the occasional home workout. Or skip the traditional “work out” all together and look for other ways to incorporate fitness, such as jogging, ball games like tennis, jumping into a pool nearby.
Make full use of your hotel gym if you are a frequent traveller.
Money saved: $50-$100 per month.
6. Reduce or eliminate your caffeine addiction
Starbucks may do its best to make us all think we need a daily dose of caffeine in the form of fancy lattes and mocha-whippa-cinos, but the $5 you’re spending each day on coffee could be put to much better use. If you can’t give it up altogether, switch to home-brewed or drink the free stuff at your office. Even cutting out the pricey coffee a few days a week can make for significant savings.Money saved: $30 – $80 per month.
7. Save it on lunch
Bringing your own lunch to work may not necessary be feasible for working class on the go if you find yourself rushing to work every morning. However, you may get budget lunch from nearby hawker centres even in CBD areas. Sacrifice the air con comfort for some $3-$5 meal.Money saved: $60-$125 per week.
8. Saving on personal appearance
No one would suggest sacrificing your appearance in order to cut costs, but there are ways you still look good on a smaller budget. Stretch out the time between haircuts, waxes, dye jobs and nail care, or d-i-y at home (nails and simple hair color only).Try different salons when they offer discounts to new clients, or sign up to be a hair model and receive a free cut. Visit apprentice, rather than master, stylists or book services like hair dyes, facials, and waxing at a beauty school.
You may also look out for deals from Groupon or other group purchase sites but bear in mind the black out dates and availablity of slots on weekends.
Buy cosmetics and skin care products only when they are finishing.
Money saved: $100 – $500 or more per year.
9. Visit your local library or try googling instead of making purchases
Knowledge does not necessary comes with a expensive price. Cut down on your reading expenses by buying used books rather than new, or taking advantage of your local library, where you can check out books completely free of charge. If you already have a large stack of books at home, sell or trade them for credit at a used bookstore. Travel information and cooking receipes are also widely available on the net.
Money saved: $20-$80 per month.
10. Buy and sell at Thrift stores
Chances are you’ve got a closet full of clothes yet still you find yourself buying more. To revamp your wardrobe on a small budget, take the items that you do not require to your nearest budget store like Cash Converter. Tip: Items that you did not even look at it for 6mths are the ones to go!You can leave with cold hard cash, or trade the clothes for credit to buy new-to-you duds in the latest styles. When it comes to shopping at retails stores, stick to your budget, or simply wait for sale (if you can wait).Money saved: $100-$1000 or more per year.
11. Opt for take-out
Don’t like to cook, or just don’t have the time? Going out to enjoy a restaurant meal multiple nights a week is one of the quickest ways to destroy your budget. If you can’t cook at home, grab take-out instead of heading out for a sit-down dinner. You’ll save a little by not paying the 10% service charge and skip the drinks. A bottle of wine at supermarket will probably cost you 20%-40% cheaper.Money saved: $10-$50 per month.
12. Make a meal plan and cut coupons
Coupons aren’t exactly for housewives although it may seem overwhelming for us to keep tracks of the massive lot. All it takes is a bit of advanced planning. Make a meal plan and a grocery list based on what coupons you have and what ingredients you’ll need for the week. Never buy something just because it’s on sale!Even if your coupons only save you an additional $10 each trip, that’s still $40 per month.
Money saved: $40-$80 per month.
13. Sign up for freebies and rewards
In effort to bring in business (especially in this economy) and reward loyal customers, many bars, restaurants, and shops will offer discounts and deals to those on their mailing list. Set up an email account specifically for this purpose and sign up to be on the mailing list of all your favorite places. You’ll not only get advance notice of deals and special events, but you’ll often score invites to private events.If a restaurant that you frequent offers a reward card ($80 membership card that comes with $100 worth of vouchers kind-of-deal), sign up and take advantage of the savings, but only if you would have spent the money anyways. It defeats the purpose if you spend more than you have originally would have, just to get the bonus.
Also, take note of cash rebates or reward points that comes with the credit card when you make purchases.
Money saved: $10-$100 per month or more.
14. Cut out on cable TV
At $30, $50, $100 or even more per month, cable TV isn’t exactly cheap. If you’re a total TV addict, this might not be a strategy for you, but if you don’t watch the tube all that much, consider cutting out cable and watching only the basic channels. With most shows available on DVD or the internet now, you might not even miss it.Money saved: $30-$100 a month.
15. Clean out your credit
If you have significant debt, your interest rates could account for a large portion of your monthly expenses. Work on getting your debt paid off, starting with the cards with the highest interest rate. If you can, transfer the balance to a zero-interest card and pay it off before the interest kicks in.Money saved: $10-$100 a month depending on your debt.
16. Learn to cook
Money saved: $60-$90 per month.
17. Save automatically
Arrange to have a certain amount or percentage of your paycheck transferred into your savings account via Giro 1 or 2days after payday every month. This way, you won’t have to think about it, and be tempted to spend the money rather than save it.18. Go cash-only
It’s easy to overspend when you are using credit card or even paying by nets. Seeing the pile of bills physically shrinking can help you pay more attention to how much you spend. At the beginning of each month or each week, take out the cash you are allowed to spend on non-essentials (everything other than bills, transport) and commit to sticking to that amount.19. Remember, your budget is your friend
It’ll be nearly impossible to save a significant amount of money without embracing the idea of budgeting. All you need is a simple Excel spreadsheet, or even just a pen and paper. Check out app store, there are a few free apps for tracking your expense. Start by keeping track of all of your expenses for a month. At the end of the month, take a look at what you’ve spent and start figuring out where to cut. Make a plan you can live with for the next month, and most importantly, stick to it!20. Take on an odd - job or Part time
Alternatively, you may offer odd job services to your neighbors such as providing tuition, baby seating, giving out flyers etc.
Money earned: $200-$800 a month. 1-3 times per week.
21. Rent out a room
One possible and quick way to get spare cash although i don't really recommend doing this for people that don't fancy strangers in the house like myself.Money earned: $250-$800 a month depending on your location and size of the home.
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If you did all of these things, you could be looking at an extra $300-$1000 per month. But even doing one or two of these things on an occasional basis could put an extra $500-$1000 in your pocket by year’s end, enough for a plane ticket to hundreds of far-off destinations.
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