Money Saving Techniques

panzergrenadier

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Hi friends

We have been talking about MMM (making more money) in this forum, why don't we also look at the other part of the equation, how to save money?

Let me start the ball rolling:

1) Take public transport (including occasional taxis)
- I have never owned a car in my entire working life
- Not because I cannot afford, but I don't want to be a slave to the bank and to gahmen's ERP/taxes/insurance/parking/fines/etc.

2) ...

Over to esteemed forummers ;-)
 

droogie

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(sorry if this is stating the obvious)

2) Do not drink or smoke. If you do, drink and smoke with great moderation.

I am not a smoker, but I see my friends who smoke (some heavily) spending plenty of money on ciggies. Some of them are social smokers, who only smoke on weekends when they go pub/disco. I guess it's better than being a regular smoker, both health-wise and money-wise.

I do enjoy an occassional drink. But I try to limit my spending on alcohol to an occassional Tiger with my weekend meal.

I think just cutting down the spending on these 2 things should make a difference. :)
 

droogie

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ibernz said:
Well... then there's no more pleasures in life isn't it?

Do everything in moderation... not asking everyone to live like a monk... :)
 

panzergrenadier

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Bring your own water. I'm amazed how much money I can save on softdrinks just by lugging around a 500ml bottle (which was given during a volunteer activity). Each can you save at retail is $1.20 a pop...

Borrow books from library - learn and be entertained at the same time. :)
 

Maverick7

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panzergrenadier said:
Bring your own water. I'm amazed how much money I can save on softdrinks just by lugging around a 500ml bottle (which was given during a volunteer activity). Each can you save at retail is $1.20 a pop...

Borrow books from library - learn and be entertained at the same time. :)
Even if you don't bring your own bottle around, it is cheaper to buy a canned drink from a supermarket nearby compared to purchasing from the food court itself. I think there is a $0.50 differential at least.

Take the MRT or the bus. I am always amazed how there are so many queues at taxi stands and wonder if the people queueing up really needed to take a taxi to send them right to the doorstep (unless they are carrying heavy stuff). Our public transport system is not that fantastic but it is good enough to bring you to a spot near your place (assuming the place is not an ulu place).
 

panzergrenadier

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dadadee said:
It is not difficult to be a monk in name and appearance but it is very difficult to live the life of a true monk... An enlightened monk can, if he so wishes, become the richest person in town materially, but such a person would have seen through the illusions and trappings of life and would gladly discard that opportunity which everyone else so covets.

Wow...dadadee.. you are very philosophical yet practical. An interesting mix!

Be well and prosper. ;-)

Additional money saving tips - cut Starhub Cable sports channel subscription! From $8 to $15 to $25! If this is not profiteering, what is?
 

Maxi

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Cut down the indulgences in electronic products (eg. Handphones, LCD/Plasma TV, PDAs, Laptops, Fastest PCs in the market....) especially when u can't really catch up with technologies. I seen friends who spent thousands sing dollars on all these products during IT shows.

Another way of saving money is to look for jobs that are near the place u live so that u can really save on transportation. Thats what happen to me when i took up my first 2 jobs. Only 1 feeder bus which takes about 15-30 mins to get me there.
 

optimus_prime888

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Plan and budget. Find out how much disposable income you have left after deducting essential expenses. From there, decide how much you wish to save and the rest can go to 'entertainment' purposes. Be disciplined.

Also, every time you have the urge to buy anything, think again.. do you really need it? you will be surprised how much you can save from those impulse buys :)
 

cwchong

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djchris said:
A book in hand, is worth more than many PSP UMD disc in bag.
problem is, whenever i open book and read, i fall asleep! :s34::s34:

DUN DRINK KOPI~~~~
1 day spend more than 5 bucks on nescafe.... very exp....!!!
 

netsuAi

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1) bring water bottle whenever possible
2) eat self-prepared breakfast, dinner
3) dun upgrade IT stuff unless absolutely necessary (TV,PC,HP)

p.s. one will know the importance and way of saving/being thrifty if his family is a low income one... :(
 

panzergrenadier

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dadadee said:
The maxim "prosper thy neighbour" is sweet and simple. However, its simplicity belies the fact that it contains the essence of wealth-creation and generating mortal happiness. :)

Yes, it's truly more blessed to give than to receive. That is something I learnt from my toastmastering journey. When one helps others become better speakers, one learns to be an even better speaker and communicator. :)

Per chance you read Napolean Hill? Many of your thoughts are aligned to some of his ideas.

Not to be off-topic:

Saving money tip - pay $20+ GST for premium library membership, can borrow DVDs from National Library for 1 week free, up to 4 DVD sets e.g. Star trek, Friends, Frasier, Starship Troopers (animated series) etc.
 

dan12345

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netsuAi said:
p.s. one will know the importance and way of saving/being thrifty if his family is a low income one... :(
Very true.. a lot of things suggested here actually seemed like luxury a few months back when I was jobless..
 
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