This is the final article of the 4-part series on 48 easy ways you can spend smarter, save for your goals sooner, and grow your wealth faster without feeling like you have to sacrifice your quality of life. Check out the 1st article here, the 2nd one here and the 3rd here!
1. Enjoy free entertainment options
Source: Esplanade
Save on movie, theatre, and other admission costs by opting for free entertainment. Check out free performances and programmes at the Esplanade, at community hubs like the Tampines Hub, and many others! While you may have already paid for a cable TV subscription, StarHub TV and Singtel TV do open up channels for free during festive periods!
Another way to get exclusive backstage access to entertainment events is to volunteer/work part-time at events, where you can also make some friends (and money) along the way. Just don’t forget about your tasks lol!
2. Buy in bulk
When potatoes and carrots go on sale, Julia would make a stew for the week.
Buy in bulk and join discount membership schemes where you get cheaper prices as a member. Fellow #HugoHeroes Julia and Eunice often buy discounted items in bulk to save money on the essentials and trips to the store!
3. Drinking plain water is still the best
Alcoholic and fizzy beverages cost a lot more than tap water. Of course, this is not to say we swear off those beverages (what would be the point of going to a bar, right?). Instead of guzzling beer and soda, opting for tap water between drinks can help us order less and save more. An added benefit to this is that there is a 100% chance of preventing mothers from attributing every ailment to not having drunk enough water…
4. House-brand goods are cheaper
And then there’s Singapore’s clean tap water.
Fact: house-brand mineral water hydrates just as well as Perrier, San Pellegrino, Evian and Fiji water. Opt to buy the store- or generic-brand versions of the items on your shopping list and you’ll save a lot while getting a similar product.
5. Eat less meat
Yes, meat is nice and shiok, but they can make mincemeat of your budget faster than you can cook a piece of medium-rare steak. Eat less meat and eat cheaper cuts of meat. Experiment with vegetarian days and learn how to cook with cheaper cuts, which can be just as delicious. Foods like tofu, beans and nuts are great protein sources. But beware: salads can be very expensive too, so keep your eyes open!
6. Eliminate food wastage
Eliminate food wastage in your household by freezing and repurposing leftovers and planning your shopping so you’re not buying more than you need. Make garden compost with unwanted bits like roots, buds and fruit skins!
7. DIY where possible
Learn basic plumbing, hairdressing, and household maintenance skills on YouTube and save on services you can do yourself. For starters, here’s a very popular YouTube channel dedicated to those who aspire to become a handyman.
8. Have potluck parties
Socialise at home with potluck parties, where everyone brings a platter of food. You’ll save on drinks and eating out and have just as much fun. Just make sure you follow safety measures, or else the fines are going to make this potluck party your most expensive ever.
9. Change your phone plan
Are you really making full use of your phone plan and its data allowance? Buying your phone outright and switching to a SIM-only plan could save you a lot of money.
10. Unsubscribe from marketing emails
If marketing emails prompt you to buy things you don’t need, it’s probably a good idea to unsubscribe and keep those enticing deals out of your inbox.
11. Shop around for insurance
Are your home and car insurance policies of good value? Shop around for a more competitive deal. However, don’t be too caught up with the search.
12. Ask for discounts
Don’t be shy about haggling and asking for discounts, whether it’s at the market or for your phone bill. Some companies are happy to give you a discount if you’re likely to switch to a competitor.
Make easy changes for greater savings today
It can be all too easy to overspend, indulge in impulse purchases, and give in to emotion-driven shopping. Yet, financial growth and freedom are possible to achieve for anyone, and the key might be incremental steps, with a level of discipline, over time. We call this “Little, Often, Early”. Each of these easy tips highlights how small things can add up to big results in your life. Ultimately, building financial wealth comes down to spending smarter, saving for goals effectively, and investing those savings for growth. It’s about making smarter decisions in each facet of your life every day and having the right tools to support your wealth goals.
Hugo‘s digital account is designed to help you build healthy 💸 and saving habits. Hugo, your Wealthcare® Buddy, takes care of your financial wellbeing. Explore the Hugo Account, Money Pots, Roundups, and Gold Vault to find out more about how we can help you develop healthy 💲 habits where you spend smarter, save for goals sooner, and grow your 💰 faster!