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Simple ways to save money around the house
By James Yeo
With the costs of living continually on the rise in Singapore, it is no wonder that people are looking for different and creative ways to save money.
It has become an essential part of our lives where we are consistently saving up for the big things, like our dream house, glamorous wedding or simply for retirement.
Wouldn’t it be good to just learn how to spend a little less every day? Below, we explore some easy ideas to save money around the home.
In the Kitchen
Singaporeans tend to eat out a lot due to their hectic work schedules, finding comfort in delicious cuisine. However, there is a price to pay for all that fine dining.
Imagine paying an average of $10 per meal – a fairly modest sum these days. Multiply that by three meals and 30 days and that amounts to a staggering $900 in monthly dining costs. Now, if you were able to whip up your own meals, you could probably save up to 50 per cent of that amount.
Having a job should not be an excuse not to. I have colleagues who occasionally cook an extra portion at dinnertime and take the leftovers to work for lunch. This will save you both time and money.
Finally, unless you cook a lot in the kitchen, try not to purchase every new kitchen gadget that hits the market. Just make do with what you have or borrow from a friend if necessary.
Save on Utility Bills
The price of water is a sore point for many, with the price having increased from July 1. According to PUB, there are a few things you can do to save money and help the environment at the same time:
Remember to keep shower under five minutes and turn off the tap while soaping up.
Run the washing machine only on a full load.
When flushing toilet, choose a reduced flush for liquid waste.
Wash vegetables or dishes in a filled sink/container and not under a running tap.
In addition, given the scorching weather in Singapore, many of us are used to switching on the air-conditioner for the whole night. According to the US Department of Energy, you can save 1 per cent of your total electricity bill by turning up the temperature by 1 degree.
Thus, if you feel comfortable enough with a temperature of 26 degrees, there’s no point in switching it to 23 degrees and covering yourself with thick blankets. On top of that, you could even switch off the air-con once the room is chilled just before you go to bed.
General Household Savings
We all have a recurring list of things being used in the house such as body wash, tissues and toilet paper. The best time to stock up these items in bulk is when there are sales going on. Some may even offer up to 50 per cent discount!
On the other hand, look into your closet today. Do you have a a closet full of clothes but are still lamenting that “I don’t have anything to wear”?
Aim to save some money by organising your closet, and try to mix and match different pieces for new combinations. This way, you can get a refreshed look of your closet and put a halt to any clothing spending for a while.
Conclusion
There is a multitude of ways that you can save money around the home, and we have shown that they are easy to execute. Ultimately, it is the simple things that can add up, so go ahead and see how much you can save just by making a few small changes.
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