It has been taught to me since young that saving money for a rainy day is an important virtue. I still remember during my younger days like primary 1 or primary 2 when my mom will bring me and my brothers to a POSB Branch to deposit money into our POSB Squirrel Account. And every time when we deposit money, we will look forward to being rewarded with stickers from the bank staff and most importantly, seeing the numbers on our bank passbook getting bigger each time.
However, as we grew older, we find it harder to save money due to the needs and wants in life. And there seems to be endless amount of debts and bills to pay and saving money is the last thing on our mind. It shouldn’t be this way for you too as you may not know when you might need this sum of emergency money. Instead of trying to force yourself to save, below are 7 ways to save money in 7 days that anyone can easily implement.
1. Utilities
 |
| POSB Smiley Squirrel |
However, as we grew older, we find it harder to save money due to the needs and wants in life. And there seems to be endless amount of debts and bills to pay and saving money is the last thing on our mind. It shouldn’t be this way for you too as you may not know when you might need this sum of emergency money. Instead of trying to force yourself to save, below are 7 ways to save money in 7 days that anyone can easily implement.
1. Utilities
Everyone has to pay their utility bills such as water and electricity. Unless you are living in a household whereby you do not have to pay for utilities, utility bills is a monthly expenses that you can look into to save some money. To reduce your utility bills, the most straightforward is to turn off your lights,air-conditioning and fans when not in use. And not to leave the tap running when not using it.
What if you are already doing your best to be efficient in your water and energy usage. Then how about getting cheaper rates for your utilities. Recently the Government announced the Open Electricity Market (https://www.openelectricitymarket.sg/home) which allow Open Electricity Market Retailers to “sell” electricity to household at cheaper rates compared to Singapore Power Group (SP Group). Below are the companies in the market that you can buy electricity from. By switching over, you get to enjoy savings for the same amount of electricity consumption. If you are keen on switching to a Open Electricity Market Retailers, below are the list of referral code and links that you can use and be rewarded.
Company Name: Geneco
Referral Code: geneco223
Company Name: Keppel Electric
Website: https://www.keppelelectric.com/SignUp/NewUserSignup1?token=undefined&plantype=&planname=&proptype=
Referral Code: Let me know if you want me to share your referral
Company Name: iSwitch
Referral Code: Let me know if you want me to share your referral
Company Name: Ohm
Referral Code: Let me know if you want me to share your referral
Company Name: Pacific Light
Referral Code: Let me know if you want me to share your referral
Company Name: Tuas Power
Referral Code: Let me know if you want me to share your referral
2. Transport
The most cost-saving method for travelling is to take bus, mrt or walk (BMW) instead of Grab or Go-jek. And if you are already taking public transport, here are the various hacks that can help you save money or earn rewards.
The most cost-saving method for travelling is to take bus, mrt or walk (BMW) instead of Grab or Go-jek. And if you are already taking public transport, here are the various hacks that can help you save money or earn rewards.
- You can now use your credit card to pay for your train and bus ride without having to top up at the top-up kiosk. And be eligible to earn credit card rewards now. More information at the website here → https://simplygo.transitlink.com.sg/ or https://blog.moneysmart.sg/transportation/transitlink-simplygo-abt/
- Earn points for taking MRT or LRT with your Adult EZ-Link, Nets FlashPay or Co-brand cards with Adult EZ-Link or Nets FlashPay function. With the points earned, you can exchange it for real cash into your bank account. More information at the website here → https://www.travelsmartrewards.lta.gov.sg/
- If you are using EZ-Link for your daily transport, then you should sign up for an account on the EZ-Link app. With every transaction made with the EZ-Link card, you get to earn points that can be redeemed for rewards. More information at the website here → https://www.ezlink.com.sg/ezlinkapp or http://justbeingernest.blogspot.com/2018/02/ez-link-mobile-app.html
3. Food
Food is a daily expenses that one cannot avoid unless you don’t eat. To save money on food, you can look into drinking less coffee or bubble tea. It may seem like an insignificant amount but it adds up in the long run.
If eating at restaurants or cafes, dine at those with favepay, grabpay or ShopBack Go to earn rewards/cashback. Even better if these restaurants or cafes are under burpple beyond or entertainer that offers 1 on 1 deals. That is like getting one meal for free!
4. Groceries
With e-commerce, now one simply fire up the app on their phone, make a few clicks and have groceries delivered to their home in a few hours. And it is cheaper and efficient compared to personally heading down to the supermarket. Not only do you save on transport cost, you also save time on queuing up and being distracted by other stuff while heading to the supermarket.
With e-commerce, now one simply fire up the app on their phone, make a few clicks and have groceries delivered to their home in a few hours. And it is cheaper and efficient compared to personally heading down to the supermarket. Not only do you save on transport cost, you also save time on queuing up and being distracted by other stuff while heading to the supermarket.
There is Redmart, Fairprice On, Giant and Cold Storage for you to buy your groceries online. And for greater savings, do click through ShopBack when buying from Redmart or Giant for cashback
Or if you prefer to do it via the traditional method of physically shopping at the supermarket, do remember to use a credit card for payment to earn rewards and join their loyalty programme such as Linkpoints for NTUC Fairprice or TapForMore for Cold Storage.
5. Fashion
5. Fashion
When buying clothes or shoes, you might think cheaper is the way to go. On the contrary, it might be ideal to pay more for quality instead. If you were to buy a poor quality clothes which might need to be replaced within 1 year compared to a quality piece that last for 2 years and cost 50% more, which option is more cost saving? Personally my wardrobe is mostly from Uniqolo but i am looking to get better quality clothes with the help of my partner.
6. Exercise
As the saying goes, health is wealth. Keeping healthy is an important part of life. It can be as simple as doing brisk walking daily or pumping iron at the gym. You might be thinking how does exercising help to save money. By looking at it from another perspective, if you do not exercise and have an inactive lifestyle, you might see yourself falling ill and as a result having to see the doctor often. This leads to unnecessary spending on medical bills and doctor consultations. I will definitely choose prevention over cure. Which side are you?
7. Beauty
Looking good is an important task that one must adhere to daily. It is not just for female but for male too. From cleansing to toner to moisturising, these are the basic steps to having a clean and pimple free face. What you eat and drink also plays an important part. For me, I usually buy my supplies of beauty products online from Lazada, shopee, qoo10 or watsons. I will compare among these websites to see which is the cheapest. To get even more savings, I will use promo code, credit cards and buy via ShopBack to get cashback.
Do go ahead to try any of the above ways to start saving money in 7 days. The money saved may be small at the beginning but gradually it will accumulate into a large sum. With the money saved, you can use it for other things such as holiday or put it into investments to grow it. Go ahead to comment it here and don't forget to subscribe via email or like our Facebook page for the latest updates! Do also let us know what you would like us to blog about next!
No comments:
Post a Comment