Image Credits: unsplash.com
Living solo in Singapore? It’s an exciting adventure but it also comes with financial responsibilities. According to a 2022 Statista survey, young professionals in their 20s stash away at least 35% of their income in savings, while those in their late 50s and 60s save around 29%. Clearly, Singaporeans are financially savvy and you can be too!
If you’re looking to stretch your dollar while enjoying the perks of independence, consider these practical money-saving hacks.
HAWKER CENTRES ARE YOUR BFF
Sure, cafe brunches and restaurant dinners are tempting but they’ll drain your wallet fast. Instead, embrace the vibrant hawker centre culture! From S$4 chicken rice to S$3 mee goreng, you’ll find delicious budget-friendly meals all over the island.
Image Credits: unsplash.com
Pro tip: Stick to kopitiams in the heartlands for even better deals!
MAXIMIZE CREDIT CASHBACK
Want to make money while spending it Cashback credit cards reward you for everyday purchases like groceries, dining and transport. With banks competing for customers, you’ll find plenty of attractive deals think Citi Cashback Card, HSBC Advance Credit Card and UOB One Card. Just remember to pay your bills on time to avoid interest charges!
USE PUBLIC TRANSPORTATION
Owning a car in Singapore Expensive Taking public transport Smart The MRT and bus network is fast, reliable and way cheaper than cabs or private hires.
Pro Tip: Grab an EZ-Link card or use SimplyGo for seamless discounted rides no need to fumble for cash or queue for tickets.
TURN OFF THE AC
Singapore’s humidity makes air-conditioning feel like a necessity but running it 24/7 will send your electricity bill soaring. Instead, opt for fans when possible and set your AC on a timer at night. Even better Clean your AC filters regularly to keep it running efficiently and reduce energy consumption.
SAY NO TO TAKEOUTS
Ordering food delivery every night isn’t just pricey it’s often less healthy too. Cooking at home saves money and lets you eat better. Not a kitchen pro Start with simple one-pot meals or meal prep on weekends to make weekday dinners a breeze.
IN A NUTSHELL
Living alone in Singapore doesn’t mean you have to live beyond your means. With some smart financial habits eating at hawker centres, using cashback cards, taking public transport and cutting down on utility bills you can enjoy independence and keep your savings on track.
Image Credits: unsplash.com
After all, financial freedom is about making your money work for you so start today!
