They say, ‘It’s not your salary that makes you rich, it’s your spending habits.’ Truer words have not been spoken. Saving money isn’t just a good habit; it’s a necessity. While it is so easy to give into endless temptations to splurge, you must remember that if you save money today, it will save you tomorrow.
Here are 52 ways to save money and beat rising costs in Singapore
Wanna go straight to a particular section?
- Food & beverage
- Beauty and wellness
- Fun & Travel
- Banking and credit cards
Food & beverage
1. Eating out? Make sure to eat more for less
If you love checking out restaurants across town, we have some excellent tips. Use apps like Eatigo to get up to 50% off dining at restaurants. With no coupons required and a long list of restaurants, you could be saving some major cash.
And here’s our last one (talk about a 3-in-1 tip!). If you are dining out with kids, then eat out at one of the many restaurants in Singapore that have the ‘kids dine free’ deal.
You have many options to choose from. Kids eat free every Monday at Cafe Melba at Goodman Arts Centre with the purchase of a main meal. For family pizza time, head to Pizza Hut. With the purchase of a Pizza Hut set meal or an a la carte main, your kid’s meal is free.
Dining cards: While dining, use the POSB Everyday Card to get up to 20% cashback (limited time promotion).
2. Head to the bakeries later in the day
Most bakeries and cake shops offer yummylicious items at a huge discount towards the end of the day. Grab breads at reduced prices at Bread Talk and Swee Heng and drool-worthy pastries at reduced prices at many hotel cafes, such as the Grand Hyatt Singapore and Hilton Hotel Singapore.
3. Invest in a coffee machine
If picking up your favourite coffee (costing an average of S$5) from the fancy coffee shop on your way to work every morning is burning a hole in your pocket (monthly around S$125), here is a great alternative.
Buy a nice coffee machine that is a one-time investment and enjoy delicious coffee every day. All you need to invest in coffee beans (good ones cost under S$30 per kg).
Saving Tip: Don’t shy away from big one-time purchases if it enables you to save more money in the long term.
4. Ditch dining out with friends every weekend and organise a potluck
Instead of having your weekend catch-ups at fancy hotels or bars, why not organise a potluck at home? This way, everyone gets one dish and you have loads of options. Apart from saving money, you also spend more quality time in the comfort of your home.
5. Make use of happy hours
If you can win a competition to guzzle down your beer the fastest, here are two magic words – Happy Hours. Most of the bars, however hip they may be, have at least a few hours each day when the drinks are cheaper.
Make use of those. Women can drink their hearts out on ladies’ night organised by most bars at least once a week.
Entertainment credit card: With HSBC’s Revolution Card, get 5X rewards for local entertainment expenses with no minimum spends or rewards cap.
Card Type: Rewards
Annual Fee: S$160.50 (2-year waiver)
- Show More Details
- 5X Rewards on online purchases including movies, hotel and taxi bookings, food orders, online shopping, and insurance premiums
- 5X Rewards on dining and entertainment
- No minimum spend
6. Make your own baby food
We know you want the best for your baby. That’s why you invest heavily in organic food packs for the tiny tot. However, making and storing baby food at home isn’t rocket science and you will be surprised at how much you can save if you do so. Plus, nothing beats the satisfaction that handmade food gives.
So, make baby food and store them in ice trays that allow you to manage portions for the little one without having to cook every day.
7. Head to Johor Bahru for shopping
If you buy your groceries once a month in bulk, hop over to Johor Bahru, Malaysia for a weekend trip. Get amazing deals and the benefit of having a much stronger currency while shopping at TESCO, Carrefour, and Giant. Sample this: Daily personal care supplies will come at about half the price there.
However, don’t limit your trip to Johor Bahru to just buying groceries. There are numerous cafes and restaurants waiting to be explored. And pack in enough time for a day of pampering. Spa sessions, manicures, facials, and haircuts are quite economical. In fact, you can get a complete makeover at rock-bottom prices at the salons there. Reason enough to make the trip?
Tip: Choose a weekday instead of a weekend to make this trip.
8. Shop at the Great Singapore/Singles Day/Black Friday/Cyber Monday/CNY Sales
If you want to buy an expensive gadget or a fancy designer bag, don’t rush into it. Wait for the next big sale, and you will be surprised at how much you end up saving! If you are lucky, you might end up getting your dream phone or designer jewellery at a staggering 70% off!
Besides big sale events, keep an eye out for smaller sales. Valentine’s Day sales could bring in offers on jewellery or luxury items, while National Day deals could be on apparel, accessories, or other interesting items.
9. Rent fashion; don’t buy
We all have been in the situation when we stare at a wardrobe full of clothes and say in despair, “I have nothing to wear!” This can be extremely annoying when there is a special occasion coming up (remember your friend’s wedding?).
Ditch buying those super expensive designer dresses and rent one instead. This way, you will not have to compromise on the dress you want nor will you need to repeat dresses. Check out rental services like Style Theory, Style Lease, and Rent A Dress.
10. Cut down on book costs
A shout-out to all the book lovers! If you calculate how much you spend on buying books every year, you would be surprised. While we approve of all the book buying (we do!), we have some tips to save money.
- There are various websites and outlets that sell second-hand textbooks, foreign language books, and many rare books you generally wouldn’t find in a bookstore. Check out UsedBooks.sg and Carousell.
- If you have an e-book reader, go that route to save costs. You can also borrow ebooks from the library for free.
- Still prefer the old route? Then buy from Book Depository, for lower prices and free delivery worldwide.
- Lastly, pick up books at the good old community libraries
11. Make use of toy rental services
Kids outgrow everything so fast – be it clothes or toys! Instead of heading to the fancy toy shop in the mall every other month to buy super expensive toys for your tiny tot, make use of toy libraries scattered all over Singapore. Tots Toy Library and Toy Library Association (Singapore) are just two examples.
12. Don’t shop when you are sad
Shopping might give you the much-needed high when you are feeling low but it is only temporary. Studies show that shopping gives you short-term happiness and only adds to your depression then as you are left with a hole in your pocket. So, the next time you are sad, don’t go on an impromptu shopping spree.
Related: Can Money Buy You Happiness?
13. Try the obvious
Sometimes, doing some fairly obvious things will help in saving money. Here are some interesting ideas:
- Leave your wallet at home sometimes – especially when you’re out for a walk close by. No money = no temptation! This is an easy one to try.
- Carry bottled water with you on walks.
- Skip the window shopping in malls.
- Set a ‘shopping free’ fortnight every alternate month.
14. Make a list before grocery shopping
Those tempting aisles of the flashy supermarket can make you unconsciously spend on unnecessary items. To avoid being distracted, make sure you have a list of items you need before you enter the supermarket.
This will not only save money but also ensure you buy everything you need.
Also, a well-proven rule is to eat before you shop as hunger pangs may lead you to buy more.
15. Buy in bulk
When possible, make sure you buy your groceries and housekeeping items in bulk as it will be cheaper. Buying a huge refill pack of your regular cleanser will definitely be more cost effective than a smaller pack.
However, don’t be tempted to buy a bigger and cheaper jar of salsa sauce if you are hardly going to use it. Always remember, ‘A bargain isn’t a bargain unless it’s something you need.’
16. Shop at wet markets
If you are looking for groceries that are fresh and economical, head to the nearest wet market. Make sure you go early in the morning to get the best stock. If you’ve been in Singapore and not visited a wet market yet, explore the Chinatown Wet Market and Tekka Market first.
Chinatown Wet Market: 335 Smith St, Chinatown Complex (U/C), Singapore 050335
Tekka Market: 665 Buffalo Rd, L1 Tekka Centre, Bukit Timah Rd, Singapore 210665
17. Use buy and sell apps
Declutter! Or better still, buy almost new, or barely used things at low prices. These apps are a jewel box if you use them right. It would be so satisfying to sell that old guitar, which is taking up so much space in your house, or buy a bicycle that is in a fabulous condition for 1/4th of the original price! Check out Carousell, Shopee, letgo, or Gumtree now!
18. Reuse, reuse, reuse!
Think again before throwing away that old bedsheet. You can cut it into a tablecloth or if nothing else, make cleaning rags from it!
How about using an old ladder as a bookshelf, or old, empty CD cases to organise small items. There are so many ways to reuse old stuff that you will end up asking yourself, “Why did I not think of this!” So, it’s time to get creative.
19. Shop online for your pet
Vanillapup.com, a blog for dog lovers to discover new products, dog-friendly hangouts, helpful tips & advice, and exclusive deals, cleverly points out, ‘Things are usually more expensive at the clinic. Do a quick price comparison on your phone before giving your money away!’ Sometimes, if you shop right, you can get a dog supplement at almost half the price online.
20. Shop at flea markets
It is great to shop global brands from sparkling malls but a lot of them cost an arm and a leg these days. Why not find a great bargain at the local flea markets. After all, these markets offer unique items at economical prices.
The Red Dot Design Museum Singapore organises an inventive marketplace – MAAD, Market of Artists and Designers (MAAD) – for Singapore’s art and design community to showcase their creations.
21. Shop online and use cashback sites
Love shopping online? With so many sales and no travel costs, if you have to buy, then online is the way to go. Most shopaholics (count us in!) vouch for this.
Our top tip here is to use cashback sites like Shopback.sg to save money when you shop at sites like Lazada, ASOS, Zalora, Expedia, Agoda, Book Depository, and Deliveroo. And use the credit card to pay as well. Get rewards, save money, and shop!
Tip: On your HSBC Revolution Card, get 5x reward points on online, local dining and entertainment transactions.
22. Shop at factory outlets for great bargains
Head to Changi City Point for some outlet shopping. They have shops like Nike, Adidas, New Balance, Triumph, Hush Puppies, and Samsonite selling off season products at irresistible prices.
Another outlet mall is Anchorpoint. You will find Charles & Keith, Pedro, G2000, Giordano Outlet, Billabong, and Capitol Optical outlets there.
Beauty and wellness
23. Get a cheap (but decent) haircut
If the cost of your haircut is leaving you wanting the Stone Age back, don’t worry. You can get the salon experience and a fine haircut for almost half your regular rate.
Head to Kimage Hairdressing School at Marina Square and get a decent haircut by one of the trainees there, as recommended by Frugal in Singapore. Other services provided are hair perming, straightening, colouring, and scalp treatments.
24. Get a S$10 massage
If your aching and exhausted body is asking for some pampering, don’t neglect it. Even indulgence can come at low costs.
You can have a massage for just S$10 and support a good cause while you are at it. The Smart Local suggests getting a massage at the Singapore Association of The Visually Handicapped (SAVH) by qualified masseuses, starting at S$10 for 20 minutes.
Where: Singapore Association of The Visually Handicapped, 47 Toa Payoh Rise, Singapore 298014. If that is too far, they also have a mobile massage team that can be booked for corporate offices, schools, events, and others.
25. Use Vaniday for discount off beauty services
Vaniday aggregates beauty and wellness services, making is possible for you to browse a wide range of salons and book your next haircut, manicure, or spa online. Plus, get exclusive discounts and cashback every time you make a booking.
26. Walk or bike
If your upcoming New Year resolution is to become fit, this is the perfect way. Walking is not only good for your heart but also your wallet. If the thought of walking for 20-30 minutes gives you the sweats, why not cover the distance in a shorter time on a bike?
But before you head out and buy a fancy bike (more costs!), rent one to see if you like it. Singapore has various bike rental services, such as The Bicycle Hut and Hello, Bicycle!
You can also try bike sharing services like OFO, or Mobike, which allow you to unlock a bike near you through an app. At the end of the ride, just park the bike in a designated public bike parking area and lock it. All this just for S$0.50 – 1.00 per 30 minutes.
27. Use public transport smartly or try carpooling
If combining physical activity and work is not your thing, why not ditch your regular, fancy taxi service for the good old public bus or MRT? Various websites, such as MyTransport.sg and phone apps like Bus SG will help you plan your travel comfortably. Bus Uncle on Facebook Messenger will also help to plot your journey, especially useful when the MRT breaks down.
And if you would still like to go for the good old ‘taxi’ way, then try carpooling with neighbours or booking a GrabShare. You save money and make new friends, so slight detours aren’t that bad an idea.
Use apps like TaxiBot on Facebook Messenger to find promo codes to shave a few dollars off your ride.
28. Cheap laundry
Is your monthly laundry bill giving you nightmares? Ditch your servicer for Piing. Recommended by The Singapore Smart Spenders Facebook group, Piing is cost effective, efficient, and has frequent cashback promos so you can have a few rounds of free laundry cleaning. Yay! The other one to try is KnockKnock.
Tip: Keep an eye out for offer coupons where you can get discount off your first orders.
29. Save on furniture and fittings costs, shop online
Doing up your home? In times like this, it is easy to shoot over your budget without even planning to. Shopping online is one great way to save and get a wide variety to choose from.
Check out Castlery, HipVan and FortyTwo. We also recommend you to browse through ezbuy. It has an interesting collection of sofas, beds, tables, and cabinets. And wait, you can buy your plumbing fixtures and home décor there as well.
Tip: A yearly Prime membership fee of S$99 on ezbuy will allow you to buy multiple items for a flat shipping fee of just S$2.99 per shipping. Use your DBS Woman’s World MasterCard to get 10X points on all your online purchases.
30. Save electricity and water costs
We are all too busy to switch off the aircon or the bathroom lights! Apart from helping the planet, you can help yourself too by cutting down your electricity bills. It is simple: Switch them off, when not in use. Also try the timer feature on your aircon the next time you let it run through the night!
And we have tips to bring down your water bill too. Check them out here. Showering like you have a date every evening isn’t a great idea as well!
31. Maintain electrical appliances
Keep your appliances like air conditioners maintained regularly. Don’t try to save costs here as the repairs or replacements will be a bigger expense.
And if you still want to replace your old electrical appliances, then go for the display sets, instead of a new one. You could get discounts of around 40% on these units.
Extended warranties on the other hand, are not advisable. Appliances that live through their original warranty period seldom break down that easily.
Tip: Use the OCBC Titanium Rewards Card when purchasing your electronic gadgets and appliances. The card gives you a generous 10x points per dollar, which is also equivalent to 4 miles per dollar.
32. Baking soda and vinegar cleans the universe
Blogger June from Mamawearpapashirt swears by this cleaning concoction, in comparison to expensive supermarket cleaners.
“I substitute half of my washing powder with baking soda, which also helps to make the cleaning more efficient,” she says.
At S$1.80 for a 454g box of baking soda, it doesn’t get cheaper than this! Add S$2.60 to this for a large 473ml bottle of vinegar, and you’re equipped with an ultra-cheap washing solution that will last super long!
Fun & Travel
33. Entertainment can be free
Not every entertainment option needs to dig a deep, deep hole in your pocket. If you’re looking for ways to save money, bubble time in Botanic Gardens or making sand castles in the East Coast Park come at no costs and with unlimited fun. From free water parks to free shopping, we have you covered.
If it’s not free, at least get some value back from your entertainment spending with the HSBC Revolution Card.
34. Buy a Sentosa Islander Pass
Fan of the beach bum life? The S$25 (subsequently S$20) Sentosa Islander Pass gives you unlimited access to Sentosa and discounts around the island – a great bargain! If you drive in, it would already cost you S$7 per entry, so buy the pass instead and enjoy a world full of fun and activities with your family.
35. Share subscription services with family and friends
Streaming services are significantly cheaper if you use their group plans. Netflix premium plan costs S$16.98, allowing streaming on four separate screens at the same time. Jio three friends and pay less than S$6 each, as opposed to S$10.98 for single screen and poorer video quality.
Spotify family plan charges S$14.98 monthly and can be shared between six accounts, as opposed to S$9.90 monthly if you sign up individually.
36. Save on movies
Many of us love watching movies. However, sometimes the exorbitant weekend ticket rates can dampen the mood.
So here are some tips to save money:
- Pick a weekday. If it is one of your favourite movies, how about booking a weekday show?
- If you are a cinema lover, then you already have the OCBC Frank Credit Card. Oh, wait! You don’t? Then here’s why you should get it. With the OCBC Frank Credit Card, you get 5% cash rebates on weekends and 3% on weekdays. And all the fun isn’t just limited to movies. You can use them for plays and gaming. It is capped at S$60 every month, though
- Also, if you want to watch a movie on a Sunday, check out the M1 Movie Sunday Rewards. 1 for 1 tickets for the first 450 customers at the Shaw theatres
- Safra members should know this, and I hope you’re taking advantage of it. 1-for-1 movies on weekends at Shaw theatres! Queues are getting longer as more people are aware of this deal, so make sure to wake up early to queue up!
37. Sign up for a mobile SIM Only plan
If you don’t need a new handset, opt for SIM Only plans that have much lower monthly charges (about half the price!) and offer you either 1 year contracts or none at all.
38. Manage your friends
We all know a few people who spend money like it is their last day in the world. What you need to do is manage them! Suggest affordable yet good restaurants to meet or get them to try out free or low-cost fun activities.
It also helps to have frugal friends who, when accompanying you for shopping, will ask you twice if you really need an item.
39. Get discounted tickets on Klook
Love exploring the island’s many attractions, from Universal Studios to the S.E.A Aquarium? Then before you book your tickets, get up to 60% discounts on Klook.
40. Plan your travel in advance
We all know booking flight tickets and making hotel bookings in advance can make a lot of difference in the costs. So, save yourself a fortune and plan your travel so you can make bookings early.
Travel websites like TripAdvisor, Skyscanner, and Expedia release data on the best time to book flights. Keep an eye out for them and book your tickets several weeks earlier.
41. Book holiday homes over hotels while travelling
If you are planning a trip abroad, ditch expensive, impersonal hotels for holiday homes. Your options are many – Airbnb, HomeAway, 9flats, Flipkey, and the likes. Not only are they cheaper, they may also come with a kitchen so you can whip up easy meals and save on food costs too!
Travel tip: For every S$1 spent on your DBS Altitude Card on your travel accommodation bookings, you will earn 3 miles. The best part is that the miles never expire!
42. Ditch travel tours
Travelling across South East Asia? Save money and ditch travel tours. Spend some time reading up on the destination and designing your own itinerary. If you need advice, look around for local guides away from the city centres or use travel apps to show you around the region. But stay away from booking tours and save money.
Tip: Up your flexibility by choosing a self-drive car with GPS.
43. Invest in travel insurance
You really don’t want to end up broke in a foreign land. If you come across a health hazard during your vacation or business trip, or if you lose your luggage, you are going to royally miss buying a travel insurance. So, you might think that you are saving money by not buying one, but you really aren’t. Make sure you study in detail the offerings by each travel insurance company and then take a call of which travel insurance suits you the most.
44. Save on phone bills while travelling
If you are travelling abroad, it is wise to not opt for international roaming. Instead, use free apps like Skype and Viber to talk to people back home. If you need to have an offline calling service, it is a good idea to buy a local SIM card of the country you are in.
45. Ditch the one gym membership
We all know someone who has a gym membership but never uses it. Paying huge annual fees at fitness centres is unnecessary since you can invest that money elsewhere. There are many ways to stay fit that cost nothing. Jog at the park close to your house or swim at the pool in your condo.
Saving tip: If you like variety in your fitness routine and believe working out at gyms brings in discipline, look up GuavaPass. A monthly membership gives access to unlimited fitness classes across the island.
46. Review your health/life insurance plan
You might be one of the many who renew their life and health insurance blindly every year without actually checking the market for something better and more relevant.
You would be surprised that not only would you get an upgrade on benefits, the premiums are sometimes cheaper too.
47. Kick the butt
Cigarette smoking is not only injurious to your health but also to your wallet. A single pack of cigarette costs around S$13. So, if you smoke one pack daily and decide to quit, you can save around S$400 each month! Think of everything else that you can buy with it, and it will sound like a sweet deal.
48. Get a pet insurance to save on vet bills
Vanillapup.com recommends to check out pet insurance by PetCare by Liberty Insurance or Happy Tails Pet Insurance. With a small annual fee, you may enjoy significant savings when it comes to vet bills for your pet.
Banking and credit cards
49. Maintain two bank accounts, one for savings and one for expenses
The Bf Gf Money Blog recommends creating two bank accounts – one for saving and the other for expenditure. This way you will be sure of how much you are saving and then spend accordingly. They also suggest keeping your savings account a bit difficult to access (maybe have one which does not come with an ATM card?). We like!
And if you are looking for some great saving accounts, here are our recommendations.
50. Use credit cards judiciously
An average Singaporean has around four credit cards. This means loads of benefits, freebies, and offers. However, make sure you utilise them fully.
Cashback credit cards offer great cash rebates, travel credit cards offer air miles and travel perks, and reward credit cards offer reward points on every expense charged to the card. Using these, you can get additional value out of your spends. Make sure you don’t let your points expire.
51. Don’t delay credit card bill payments
Credit cards work like magic until you mess around with your monthly bill payments. To avoid paying exorbitant interest rates, it is the best to pay the entire credit card bill (and not just the minimum amount) every month.
52. Be grateful
If you are happy with what you have, you won’t feel the compelling need to buy more. So, don’t let the lure of materialism get to you. Be thankful since gratitude goes a long way.
That’s all folks! 52 smart and creative ways to save money! While these may look like really tiny things if considered individually, they do make a huge difference collectively.
Whoever said this, got it right – “Beware of little expenses; a small leak will sink a great ship.”
Have more money saving tips you think we definitely have to add? Let us know!