Here are 50 tips to help you stretch the dollar in Singapore, from everyday hacks to more strategic financial planning ideas:
Groceries & Food
- Buy in Bulk: Shop at places like NTUC FairPrice, Giant, or Sheng Siong to take advantage of bulk discounts.
- Cook at Home: Preparing your own meals is much cheaper than dining out, and you can make large portions to last a few meals.
- Meal Prep: Plan and prepare meals for the week to avoid impulse food purchases or dining out.
- Use Discounts Apps: Use apps like GrabFood, Foodpanda, Chope, or Fave for discounts, coupons, or cashback on dining.
- Shop at Wet Markets: Fresh produce like fruits, vegetables, and fish tend to be cheaper at wet markets like Tekka or Tiong Bahru market.
- Buy Frozen Foods: Frozen veggies, meats, and seafood can be cheaper and last longer than fresh ones.
- Look for Expiry Date Discounts: Many supermarkets discount products that are nearing their expiry date.
- Use Loyalty Cards: Supermarkets like FairPrice and Giant offer loyalty programs where you can collect points to redeem vouchers.
- Eat at Hawker Centers: Singapore's hawker centers offer affordable, delicious meals compared to restaurants.
- Pack Your Own Lunch: Instead of buying lunch daily, pack your meals to work or school.
Utilities
- Save on Electricity: Choose the cheapest electricity provider through the Open Electricity Market (OEM).
- Unplug Devices: Turn off appliances and devices when not in use to reduce your electricity bill.
- Use Energy-Saving Appliances: Look for energy-efficient appliances that consume less power.
- Air-Dry Laundry: Instead of using a dryer, hang clothes to air-dry to save on electricity.
- Use LED Bulbs: These use less electricity and last longer than traditional light bulbs.
Transportation
- Get an EZ-Link Card: Use an EZ-Link card to save on bus and MRT rides, or consider SimplyGo for credit card use.
- Walk or Cycle: Save money by walking or cycling for short trips instead of taking buses or taxis.
- Use Public Transport: Buses and MRTs are much cheaper than taxis or ride-hailing services.
- Carpool or Use Ride-Sharing: Use apps like GrabShare to split ride costs.
- Avoid Peak Hours: Fares for ride-hailing services like Grab or Gojek are usually higher during peak hours.
Shopping & Entertainment
- Shop at Discount Stores: Check out stores like Daiso or Valu$ for affordable household items.
- Wait for Sales: Take advantage of the Great Singapore Sale or year-end discounts for major purchases.
- Use Cashback Sites: Use cashback platforms like ShopBack and Rebates to earn money back on online purchases.
- Compare Prices Online: Use price comparison sites like Lazada or Carousell before making purchases.
- Use Library Services: Instead of buying books, use the National Library Board (NLB) for free access to books and e-resources.
- Watch Movies on Discount Days: Cinema chains like Cathay or GV offer discounted movie tickets on certain days of the week.
- Use Secondhand Platforms: Buy secondhand items from Carousell, Gumtree, or Cash Converters to save on brand-new purchases.
- Free Entertainment: Explore free activities like hiking trails at MacRitchie Reservoir or visiting Gardens by the Bay.
Finance & Budgeting
- Set a Monthly Budget: Use apps like YNAB or Seedly to track expenses and stick to a budget.
- Avoid Credit Card Debt: Pay off your credit card bill in full each month to avoid interest charges.
- Use Cashback Credit Cards: Opt for cashback credit cards like the UOB One or DBS Live Fresh card to earn cash rebates on your purchases.
- Track Your Spending: Use budgeting apps to monitor and categorize your expenses.
- Save on Bank Fees: Use fee-free banking accounts or ATM withdrawals to avoid extra charges.
- Invest in Robo-Advisors: Consider low-cost investment platforms like Syfe or StashAway to grow your savings.
Housing & Rent
- Share an Apartment: Rent a room or apartment with housemates to reduce your housing expenses.
- Look for HDB Flats: HDB rentals are generally cheaper than private apartments.
- Negotiate Rent: Try to negotiate a lower rent or ask for a longer lease to lock in lower rates.
- Opt for a Smaller Space: Downsizing can save you a significant amount in rent or utilities.
Health & Fitness
- Use Government Health Subsidies: Take advantage of government health subsidies through CHAS, Medisave, or MediShield Life.
- Exercise for Free: Use public parks, gyms, or online workout videos instead of paying for expensive gym memberships.
- Buy Generic Medications: Generic brands are cheaper and just as effective as name-brand drugs.
- Stay Healthy: Invest in preventive healthcare by eating well, exercising, and going for regular checkups to avoid costly medical bills.
Travel & Holidays
- Use Budget Airlines: Book flights with low-cost carriers like Scoot or AirAsia.
- Book in Advance: Plan trips early to secure lower prices on flights and hotels.
- Take Staycations: Explore affordable staycation options within Singapore to save on expensive overseas travel.
- Use Travel Credit Cards: Use travel rewards credit cards to accumulate points or miles for future discounts on flights or hotels.
Miscellaneous
- DIY Where Possible: Learn to do simple home repairs, tailoring, or maintenance yourself to avoid service fees.
- Use Public Healthcare: Government polyclinics and public hospitals offer cheaper healthcare options than private clinics.
- Swap or Borrow Clothes: Instead of buying new clothes for every occasion, consider swapping with friends or renting from platforms like Style Theory.
- Take Advantage of Government Rebates: Look out for schemes like the U-Save or GST Voucher rebates to reduce your utilities and living expenses.
By combining these tips into your daily routine, you can make significant savings and get more value for your dollar in Singapore.
