SINGAPORE: With the cost of living rising in Singapore due to inflation, one Singaporean has taken to the Reddit platform to crowdsource tips on how to save money.
“I earn 4.8k and rent is 2k and everything else is just going by on a margin. I just feel sg is soo expensive. Any money saving tips please?” wrote u/Bling-_-Bling on r/askSingaporeon Tuesday (Feb 21).
Because it’s a topic that affects practically everyone, fellow Singaporeans on Reddit seemed only too ready to weigh in, and the post has gotten nearly 200 comments.
One suggested he get a place with cheaper rent.
‘Bro i have about the same income as u and I’m living life fully.. Im also renting. Just cut ur rent to find a place within 1k. That rent $ is what eating your savings,” he wrote.
But he was answered by another Reddit user who wrote that the current rental market has very high rates.
Another wrote, “Find a common room in HDBs far from the city. You should be able to get one for $800+? And always take public transport, never grab or taxi. Your monthly transport expense should be capped at around $100.”
“Your rent is too high man. Depending on where you work, a cheap meal might not be possible. Download apps like shopback so for every 5 meals, you can get one back,” a Reddit user chimed in.
“Rent should not be almost 50% your salary,” another agreed.
One offered a tip for the post author’s telco bill.
“For starters, shift away from regular telco line (esp Sinktel). They’re the most expensive of the lot. Switch to MVNOs like Giga, Circles. That can definitely half your monthly telco bill, at the very least.”
“Downgrade your living situtation, cook/eat at hawker centres,” suggested another commenter.
Another suggested that the post author “Bring water bottle everywhere.. don’t buy drinks, it adds up.”
And when one wrote that he could “Find a girlfriend/boyfriend to split rent,” another answered, “But those cost money too.”
A commenter wrote that “4.8k is actually a pretty decent amount to lead a somewhat ok life in SG.”
“Don’t ever eat at restaurants, try to spend less than $5 per meal. If you want to enjoy/try “expensive stuff”, go JB! May be more affordable there,” wrote another.
A survey from late last year showed that stress levels in Singapore are still as high as they’ve ever been, if not higher, than the global average. A whopping 86 per cent of Singapore’s respondents to the Global Well-Being survey are stressed, with 15 per cent struggling to cope with stress.
The number one stressor of all is the high cost of living (50 per cent), followed by uncertainty about the future (38 per cent), personal finance (35 per cent) and family finance (24 per cent). /TISG