Ways To Save Money

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Hi Everyone,
Whether we are working or still in school, spending money on a daily basis is unavoidable. We spend on food, petrol, coffee, groceries, stationery and the list goes on. Today, saving money has become more and more difficult. 

However, here are some simple ways to help you save some extra. In order to survive, money experts keep on pushing Singaporeans to promote a savings culture. One must always have minimum savings that can cover for three to six months of their expenditure. One of the examples to estimate your monthly commitment is by using the mortgage loan calculator to see how much you will have to pay. Here are some tips to help eliminate unnecessary expenses and create handsome savings for your future. 
1. Wait for Discount 
Some of the things appearing on your shopping list are not urgent. For example, new handphone or laptop can be bought in the coming month or the month after. The idea is to act smart and wait for the seller to put it on a promotional price. In some sales or promotions, some may even cut down the price by providing a 50% discount and above which could save a lot. The important thing is that at times when waiting, you may realize that you did not even need the item in the first place. 
2. Take the public transport or carpool. 
Singapore’s weather is dry and humid. When travelling around the country, it may be hard to resist the offer of getting a cab. However, the cost of a cooling and convenient ride can be heavy, especially if one likes the habit of taking private transport. The expenses for private transport can easily go up to hundreds per month. Therefore, it is recommended that one takes the public transport as much as they can. In some situations, there may be a need to take the private transport. An example would be when one is carrying a lot of goods. In such a scenario, consider sharing a ride or we call it carpool. Carpooling could add to the savings basket from the reduced ERP tolls, petrol, and parking fees. Ride-sharing apps such as GrabShare are worth a try for cheaper trips. 
3. Reduce the coffee dates and make your own coffee. 
Spending time at cafes have become a part of Singapore’s culture. Until one realizes that they are paying an upwards of $7 on culpa every trip. Not to mention the additional amount they may spend on cakes and desserts at the cafes. While it is not an easy task, working Singaporeans and students could make beautiful savings by making their own coffee and drinks. Well, an indulgence or two can be allowed very infrequently. 
4. Cook yourself 
Dining out once in a while is a welcoming break from the usual kitchen routine. But everyone knows that cooking at home will bring substantial savings. Singaporeans often eat out due to their busy schedules or for convenience. However, dining out or ordering healthier and organic food sometimes are not cheap. Homemade meals will definitely be more complete as one can personalize the dishes and add in foods with more nutrients. One can also choose to cook in healthier ways by using lesser oil or salt. Because you can choose your ingredients and that homemade food are usually of larger portions which serves many, money can be saved. In the long run, there will be health benefits as they can reduce the number of trips to the doctors and eventually save on their medical bills. 
5. It is alright to say No. 
It is alright to say no. Some of us end up spending out of budget when faced with peer pressure. Some of us cannot reject when friends or colleagues choose to dine at expensive restaurants, or when they want to purchase an expensive gift to share. We smile on the face and say yes, due to the anxiety of conflict or being left out but frown internally, planning which meals to skip just to survive until the next payday. Sometimes, it is okay to reject politely. One can always join them for a meal another time or purchase their own gift. 

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