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4 Budgeting Habits For Those Of Us Who Aren't Rich
If you live in Singapore and you're not rich, you might want to start budgeting to be able to spend less and save more money. Getting yourself into a money-saving mode may not be at the top of your head, but it is important that Singaporeans start saving ASAP. Being young and a greenhorn in the workforce doesn't give us an excuse not to learn how to manage our finances, save and think about our future. For the most part, managing one's finances with finesse takes time, hard work and sheer commitment.
Inspired by a recent piece of news that talked about how students studying overseas managed their money, we at GET.com feel compelled to share these 4 budgeting habits with those who have limited financial resources. We totally understand if we have to scrimp sometimes just because not everyone is so lucky to be born with a silver spoon in his or her mouth.
4 Budgeting Habits To Put To Good Use
1. Save Money On Groceries
This might be poignant for those with a keen sense of palate that's so used to tasting premium ingredients bought from gourmet grocers, but when your wallet is not as fat as it used to be, embracing cheaper alternatives might just be what you have to do in order to stay afloat amidst rising food costs in Singapore.
For those who whip up their own meals at home, groceries can cost quite a fortune since every dollar adds up. Nevertheless, there are plenty of things we can do to save some money on our grocery budget such as cooking in bulk, buying house brands, buying groceries online, using credit cards that help us save money on groceries, etc.
Did you know that credit cards can help you save money if you use them right? Here are 5 money-saving hacks using credit cards in Singapore that you could get yourself acquainted with if you're keen on learning how to get more bang for your buck.
2. Live Modestly Instead Of Splurging Like There's No Tomorrow
Know the difference between needs and wants. Before you plonk down a huge chunk of your salary on say, a Chanel bag, think things through twice or thrice. Similarly, you don't have to spend $8 on a Starbucks drink if what you need is caffeine. Make your own cuppa from more economical 3-in-1 sachets that you can easily get from supermarkets.
When you are living from paycheck to paycheck or if you have a miserable savings balance in the bank, you have to be prudent and sensible when it comes to your finances.
Sure, it is nice and comforting to reward ourselves after slogging the entire month at work, but we don't have to be decked out head to toe in designer apparel or driving posh cars in order to feel good about ourselves. For the most part, there are so many amazing things in life that money cannot buy.
3. Track Your Money Goals
Always think ahead and make the effort to fight off all impulse purchases that can hinder your progress in attaining the money goals that you've set for yourself. These goals might be saving half your take-home pay every month, contributing to a joint account, saving the amount of money required to buy your first HDB flat, buying a property, making sure that you have enough money set aside for investments and so on.
For those who haven't started thinking about creating a financial bucket list, we at GET.com recommend that you get on with it as soon as you can.
4. Shave Your Bill Whenever Possible
Really, no logical person would say no to cutting costs when they can very well do just that. Fret not if you don't know where to start because we at GET.com have plenty of handy tips for you.
Foremost, here are 5 cheap places to shop at for your daily needs and 3 great ways to shop and save as a family in Singapore. Those who love to sing at KTVs have to visit the top 3 cheapest KTV in Singapore.
Love travelling? Read these 6 hacks to finding cheap hotels for your holiday and these 11 nifty tips and tricks to getting cheap flights in Singapore. Additionally, learn more about the best travel cashback credit cards that we've picked out for you.
Many of us can't help but eat out rather frequently, so if you're like us, be sure to check out these 4 ways to save money while dining out. Also, here are the 10 cheapest weekend lunch buffets in Singapore that we've sussed out for you if you're a foodie without deep pockets. If you prefer stuffing your face with food in fancy hotels, you could take your pick from these 7 cheapest hotel weekend lunch buffets that we've rounded up for you.
Staying in shape and upping your fitness level doesn't necessarily have to cost a bomb if you know where to look and what to go for. To give you a leg-up, here are 5 cheap ways to get healthy in Singapore.
Those who don't mind making a trip up north and crossing the causeway can check out these 5 cheap places for good food and drinks in Johor Bahru or even gun for a cheaper overseas university degree at EduCity.
What do you think? Share your comments with us below!
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