No-buy months and fewer takeaways: What’s helping some in Singapore save money

SINGAPORE: It is a reality that with today’s growing economy, high costs of living truly hit hard for many. Singapore, according to recent data, has been ranked as the world’s most expensive city once again, with monthly living costs averaging between S$2,500 and S$4,000. Factors that affect the rise of expenses in the country are the high housing prices, transportation costs, premium healthcare, and imported goods.

However, despite the expense, Singapore continues to attract global professionals due to its strong economy, safety, infrastructure, and business-friendly environment.

To somehow lessen any financial burdens, a Singaporean asked for simple tips on how to spend less and save more each month. On Reddit, the local asked what actually works, such as cheap food and grocery tricks, ways on how to cut transport costs, trimming bills and subscriptions, lifestyle changes, and even tips on how to avoid overspending. 

For some, it’s the basics that make the biggest difference. One netizen shared that cutting out takeaway drinks and making coffee or tea at home, along with sticking to home-prepped meals, helped reduce their monthly spending by about $300.

Others said skipping alcohol and cigarettes doesn’t just save money, it’s also a win for your health.

One more netizen shared: “I only buy things on sale now, especially if I’m only buying them online. Also, stock up on consumables during sale time. Soap, shampoo, etc. Having no-buy months where you can’t go shopping for random things and can only buy essentials like groceries. Includes things like grab, can’t do that either.”

Several netizens also stated that getting rid of subscriptions can cut costs, and uninstalling apps such as Shopee, Grab and Foodpanda. 

“Track every single expense manually. It’s very painful to see the crap you spend money on and having to be accountable for each line item. This reduces my spending by quite a bit… Having a system makes it easier. When you see you only have 100 left in your spending account, you naturally will stop spending recklessly because it has to last till next payday,” a comment further added. 

With fashion choices, a netizen shared: “I don’t buy clothes, I ask around who has clothes to declutter. If not my style, I would go to trade shops to trade it for about $2 per item to trade in places such as the fashion pulpit.” 

Moreover, people also suggested that if they want to save money, they should stay single and stop dating. A commenter remarked: “Stopped dating a Singaporean girl…Don’t need to pay for everything.” 

While some suggestions may not suit everyone, many pointed out that small changes can add up over time.