Was browsing the blogs and came across the topic on money-saving tips. I believe during the current recession, its always wise to have some money-saving tips in mind to help us plan better in terms of household or personal expenses. Always plan our way of spending money wisely.
I always have this thought in mind, "If I can enjoy a bowl of fishball noodles at $2.50 in a hawker center, why should I be paying MORE for the same thing at a foodcourt even if it is air-conditioned but equally packed with people?" - if you can't stand the heat eating at a hawker center, you can always lunch-in in the office or at the comfort of your home.
Here are some money-saving tips I came across shared by Peter The Planner:
1. Go to the wet market instead of supermarket
Do not shun away from wet market. You can get good deals there. If your house is nowhere near a wet market, you can then opt to go to supermarkets. Take the time to write up a grocery list. Take your time to walk through the supermarkets to compare brands and prices. You can easily save $20 or more each week by shopping the sales at the stores.
2. Shop at Warehouse Sale
Watch out for warehouse sales. Just look for advertisements in the newspapers to find out where and when the next warehouse sale will be. You can expect prices with more than 50% discount.
3. Do not order drinks in restaurant or hawker centers
This habit is costlier than you think. You can get drinks later at the supermarket or convenient stores at a fraction of the price.
4. Pay bills on time
Give yourself a weekly allowance in cash to pay for incidentals and stick to it. When the money is gone - it’s gone.
5. Stretch out the time between haircuts
If you normally get your haircut once a month, try stretching it to once every 8 weeks or 2 months. You can save yourself the cost of at least two haircuts a year.
6. Use 1/4 less of dishwashing soap and laundry detergent
The portion size of the scoops in laundry detergents is simply too big. You will be amazed just how far 3/4 of the suggested amount will go.
7. Meet a friend for breakfast or lunch instead of dinner
Dinner is always the most expensive meal if you’re eating out. Thus, it is better to catch up with your friends over lunch on weekends or even weekdays if you work near each others.
8. Have a garage sale or join a bazaar
Kill 2 birds with one stone. You can get your house clean and pocket some cash from your efforts as well.
9. Use shampoo and soap sparingly
If you are using a pump bottle, one pump of shampoo per use will do just as good a scalp cleaning as two pumps. Three pumps of soap will take care of the rest of your body.
10. Always ask for discounts
Make use of your credit cards. Usually, some restaurants and shops have special discounts for certain card holders. If you are a regular customer, ask “is this the best price you can give me?” The first time a shop keeper gives you a 10% discount just because you asked, you won’t be shy anymore.
11. Have more potluck sessions.
Plan a potluck with your friends instead of going out to eat. Have each person bring something and your dinner is done!
12. Cancel unnecessary cable plans
With all the new cable plan offers from Singtel, etc, its so hard to determine which one you really need. When the bill arrives this month, determine whether you really use all of the channels that your plan offers. You can add channels back in later if you are feeling deprived.
13. Stop drinking soda or sweet beverages.
Better yet, bring a bottle of water everywhere you go.
14. Quit smoking
This $1500 annual habit is expensive. You have to stop for your pocket’s sake if not for your health reason. If you’re still smoking, even if you’re a die-hard 20+ year smoker two packs a day smoker, you can do it. So start today!
15. Stay at home this weekend
You can have a relaxing and reflective day at home, alone or with your family. Pull out a puzzle, a board game, or a DVD for some family bonding fun. If you want a quiet time, curl up on the sofa with a good book and you are set.
16. Spend less than you earn - Earn more than you spend.
It’s a relatively simple rule but hard to keep. To help you keep to the rule, make it a habit to save a portion of your pay first and spend the remaining with guilt-free feeling.
17. Buy House Brands
With more and more house brand products to choose from, you can save quite a lot by buying them instead of your usual brands. This can be applied to toiletries and food products.
18. Budget your money
Write down everything you spend or budget your money online with One Paycheck at Time eTools, http://www.onepaycheckatatime.com/. By tracking what you spend you will easily save 10% or more per month because you are aware of the money that is going out and coming in.
19. Refinance your auto payment.
If a year or more has passed since financing a vehicle, researching refinancing the loan. You may find that you can get a loan for at least .5% less than what you have now.
20. Take public transport if possible
At least once a week, try taking a bus or MRT to work or to meet your friends. It’s just one day a week - it won’t cramp your lifestyle the other 6 days in the week. It is better to save on cab fares and eat better food later than travel in style but eat bread for the rest of the week.
For more money-saving tips, just google it and you will find lots of information of that. Happy saving :)
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