Image Credits: internations.org
Today, Singapore is generally regarded as one of the best places in the world to live. The country scores highly in multiple well-regarded quality-of-life indices, and it’s also regarded as one of the best places in the world for professionals to work. As a result, the small country attracts movers, shakers, and high-net-worth individuals from around the world, driving its economy to heights its founders wouldn’t have believed.
However, Singapore’s successes haven’t been without their drawbacks. Today, the city-state constantly vies with Hong Kong and Tokyo for the dubious honour of being the most expensive city in Asia. While the high cost of living is tempered by high local salaries, a robust economy, and extensive social safeguards, it can be challenging for residents and visitors alike to keep their expenses under control.
While some things such as food and public transportation are quite affordable by global standards, many other things are likely to give locals and tourists alike a serious case of sticker shock. In this article, we’ll look at a few common products and services in Singapore that you’re better off saving money on. From mobile phone data to pet grooming, we’ll give you some ideas on how to stretch your budget further.
Mobile Phone Data
You simply can’t navigate the modern world without a mobile phone, let alone Singapore. However, that doesn’t mean that you should overspend on your data plans. Data plans in Singapore can be quite high, particularly if you don’t shop around first. While many providers offer unlimited data plans, these invariably come with a hefty price tag and probably won’t be maximised unless you’re always out and about.
To save money, consider downgrading to a plan with a lower data limit or switching to a provider that offers a plan that’s more in line with your needs. If you’re really interested in getting the most for your money, ditch the bundled plans from the major telcos and get a SIM only plan Singapore‘s cash-savvy residents depend on.
Luxury Clothing
Singapore attracts a lot of wealthy people, so it’s no surprise that many high-end brands have flagship stores in the city, particularly well-known fashion houses based in France and Italy. However, a lot of these brands tend to be far more expensive in Singapore than they are in Europe, simply because of the extraordinary market demand from Asian consumers.
If you’re still determined to score a few haute couture items, however, you’ll do better if you purchase pieces created by local Singaporean designers. If you’re not averse to cheaper alternatives, you can also check out Singapore’s local street markets and online retailers.
Gym Memberships
Gym memberships in Singapore can be quite expensive, with the average prices costing about SGD 190. Fortunately, they’re not the only places you can get fit. Singapore has an abundance of parks and green spaces where you can engage in a wide range of physical activitiies for free or for just a modest fee. If you’re lucky enough to have space in your flat, you should look into purchasing basic exercise equipment as well.
Cable TV
Unless you’re really into sports or are attached to the whole cable TV experience, you should just consider cancelling your cable subscription. Streaming services such as Netflix and Amazon Prime are now readily available in Singapore and the fees for these services are usually much lower than a basic cable package.
High-End Restaurants
Singapore is known around the world for its food scene—but it’s not the high-end restaurants that people talk about. Truth be told, Singapore’s fine dining scene is not that much different from fine-dining experiences in any other expensive city. Rather, it’s the far more affordable hawker centres and local eateries that tend to elicit the most admiration.
This isn’t to say that you shouldn’t indulge yourself in fine dining every once in a while. However, if you want to save money, you should know that there are plenty of affordable quality food options in the city-state.
Premium Pet Services
While they may never say it out loud, many pet owners love their fur babies just as much as they love their human children. Therefore, it’s understandable that many will spare no expense to ensure their pets enjoy the best services possible. While arguably admirable, this drive to get the best for one’s pets can get a bit silly, especially given how expensive these services are in Singapore. To rein your budget in, learn to take care of basic grooming and other important pet care rituals at home, and leave only the toughest jobs to the professionals.
Expensive Beauty Products
If you’re into skincare and beauty products, you probably already know how expensive certain brands can get. Fortunately, thanks to Singapore’s booming pharmaceutical and biotech industries, many affordable homegrown options are now available on the market, with many of them offering the same or better results than popular international brands.
High-End Electronics
Singapore is a tech-savvy city, and tourists and procurement agents alike often come here to save some cash on the latest electronics. However, tech bargains are becoming rarer each year. To save on your electronics purchases, you have to know where to look. Skip the big chain malls and check out Funan Digital Life Mall, Sim Lim Square, Lucky Plaza, and Mustafa for some real bargains on different types of electronics. Just be wary of scams that may be perpetrated by shady retailers. If having the latest gadgets isn’t a priority, it’s also worth checking out online marketplaces for great deals on used items.
While there’s no denying that Singapore is an expensive city, there are plenty of ways you can save money without sacrificing your overall quality of life. By understanding what it is you need and by being mindful of your spending, you can enjoy all that the Lion City has to offer without going into debt.
