Money Saving Techniques

Lancelot

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OldGeorge said:
Eat 2 meals a day. Possible at all. Morning try to eat full. Afternoon moderate meal. Dinner eat loti or any fruit snack in very small quantity. Let me tell you. sure save $

Quality of meals is very important to one's health, so ensure that one eats regularly & nutritiously. Saving $ on meals by curbing on unhealthy snacks is another way.
 

s050399b

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Question:
why do u need to save for retirement?
- old age need to spend more on health care
- old age no jobs so no income

Then the solution is to emigrate to Australia or welfare countries? Need to pay around 30% to 45% tax while you're working, but u don't have to worry about the above 2 points, and below ones:

- no money for studying; Australia govt allows each individual to own up to $50k of education loan - repay when u r working
- if fired from job, how to survive? The govt will lend u a helping hand by providing handouts til u find a job.
- sick how? There's a cap to how much u will spend on health, above that govt pays/subsidise.

Perks:
- working in a NTUC-like enviorment earns about A$15 - A$35; depends on shift and age.


How to emmigrate? Booklet 6 of http://www.immi.gov.au
 

homer123

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A money saving guide that I have read in another forum many years back and have been using most of tips. I have a cash saving of 450K and still <40 years old.

1. spend more time reading and exercising (jogging, cycling--free anyway) to keep fit to avoid unnecessary illness instead of getting involved in bad activities like drinking or chioning.

2.Avoid any temptation to spend-avoid the shopping centres. Each time, prepare a grocery list and just go to the nearest provision shop and get them... the longer you linger... the more itchy to spend.

3. Recycle/reuse waste water. When taking shower or bath daily, stand inside big bucket and collect bath water running down the body inside bucket. Collect all washing machine rinse water. Use them to flush toilet or wash floor. Enough to last many toilet flush. Save water.

4. When washing hands, use water from container instead of water flowing from tap.

5. Place 1 litre bottle inside toilet cistern to limit water flushing quantity.

6. Let your tap drip overnight into a pail... free water... the meter can't detect small movements... good for mopping floor.

7. Learn to fish. I spend my free time fishing ..The amount of fish I catch every month is enough to last me for a while ..Provide good protein and they are free!

8. Plant some of own veggie. I live near Malaysian Railway track..The land along it is unused and I cleared some plot to plant my veggie.I tried to plant those that grow easy...like sweet potato or gourd-type veggie

9. Buy good secondhand electrical good when possible. Save money.

10. Empty refrigerator and buy smaller fridge as much as possible. Eat 2 meals a day and stay thin. Buy only when needed, do not overload fridge.

11. Short distance travel use bicycle. Stop using bus/mrt or taxi. Save travel expense.

12. Use company toilet to bath or s#$% everyday. Save home water usage.

13. Charge all your batteries in the office (save elec bills)

14. Surf in the office... or get the cheapest rates

15. When purchasing computer. Don't buy brand new. Buy secondhand, it is just as good if for normal internet surfing purpose.

16. Cook yourself and Bring own lunch to work...

17. DON'T buy any drinks, even softdrinks cos' they're the most unworthy ones... bring a sports water bottle... Keep one in backpack ... one day at least save $2-$3 on drinks

18. Terminate your Handphone line. Get a pager and a phone card, it is cheaper. It may be inconvenient but you are still contactable.

19. Stop using aircon. Buy electrical fans. Save electricity.

20. Install window film or tinted glass at home to keep heat away from home. Keep house cool and bring down air-con or fan electrical bill.

21. Don't buy newspaper..Read from CC or library.

22. Wear your cloth and shoe until there is a hole before buying a new one.
 

panzergrenadier

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Dear Homer123

Congrats on your savings! :)

The list is quite old... I am not sure if anyone can survive on pagers now that handphones subscriptions can be quite cheap if you use free incoming or refuse to call people on your mobile! ;-)

I think the exercise tips are really good. Exercise is a healthy activity and if carried out as a pastime, reduces time and money spending on going clubbing/movies etc that costs money.

Be well and prosper.

#Money Saving Tip#
If you have spare cash balances, don't leave them in local banks earning 0.5% per annum, plough them into treasury bills at least for about 2% interest currently. Or at least use Fairprice plus savings at 1% or Maybank iSavvy at 1.68% (balances > $5,000).
 

mizarahi

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All the money savings tips are great but must strike a balance.

Most importanting - Live a happy life. You dont know what will happen tomorrow.
Indulge in things that makes you happy yet have disciplined savings is the best.

Have fun saving money. I am still trying to master the art of saving money. Just fell in love with at $4.5k watch. ****i. :p
 

D69

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I dun own a car, i have a flat im married and no kids and pets. I run regularly, stopped playing WoW and dun bet on soccer or gamble. Only money drainer is F&B for the once a while makan, else its family related matters like bdae or treat parents to dinner and holidays.
 

D69

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i only have one credit card citibank dividend and i pay watever i spend on every month and earn dividend somemore
 

anthony.phua

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I don't feel this is the wisest way to save money. For eg, why don't you want a 5% cash rebate when shopping in Robinsons group of companies using the Robinsons Card vs the pathetic 0.5% rebate offered by Citibank Dividend Card?

Or the 2% rebate when buying things at Watsons or 5% rebate at Carrefour when using the POSB Everyday card?
D69 said:
i only have one credit card citibank dividend and i pay watever i spend on every month and earn dividend somemore
 

panzergrenadier

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#Money Saving Tip#

Eat more fruits. As part of your healthy diet, do take heed of the Health Promotion's Board 2+2 campaign, i.e. eat two portions of fruits and vegetables twice a day.

If you do your own cooking, you will realise that vegetables are relatively cheap as compared to meat. So buy and cook more vegetables.

For lunch, instead of eating full with your main meal, finish off with a fruit, you won't feel so hungry after the fruit. :)
 

ah_cheng1882

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i find tat using e fan n air-con is a good combination....

one cools e air (not too cold of course, otherwise no savings), then fan to move e cool air around
 

panzergrenadier

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#Money Saving Tip#
Take care of your health... Today am on MC for food poisoning, $24 poorer from seeing the doctor.

Health=Wealth!
 

lyknah

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My personal Money-Saving Techniques

(1) Maintain healthy lifestyle by exercising regularly and eat more fruits and veggies.
(2) Keep a record (simple P/L statement & cash flow) of what you have spent daily in a spreadsheet and at the end of the month, you will know whether you have a profit/surplus or loss/deficit. Through this simple method, you can know what you have spent on and determine what type of expenditure can be avoided.
(3) Buy what you really need and not because it's on sale.
(4) Go for cheaper alternatives (eg: taking public transport vs owning a car; eating at hawker centres vs restaurants; aircon vs fan, HDB vs private housings; 3-room HDB vs 5- room HDB).
(5) Switch off electrical appliances (including the switch) if you don't need them. Putting them on standby mode consume electricity.
(6) Insure yourself with basic insurance which covers major illnesses and hospitalisation.
(7) Put your $ in savings a/c that gives better interest (like Maybank's iSAVvy or SCB's e$aver). If your risk level is higher, use some of the savings to invest in bonds or treasury bills which give better returns than banks.
 

midgard

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anyone knows about investment/ insurance plan and give advice on that cos i think they give better returns than deposting in banks
 

Lancelot

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ah_cheng1882 said:
i find tat using e fan n air-con is a good combination....

one cools e air (not too cold of course, otherwise no savings), then fan to move e cool air around

I do that too. Usually switch on the air-con @ around 23 to 25 °C(depending on the time of day). Daytime usually requires 23°C & night time 25°C. Then I'll switch on the ceiling fan to circulate the cool air around the room.

I don't know if it saves $ but it does feel more airy & cooler :)
 

njemesis

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ixus20022002 said:
1) Take public transport, take taxi claim frm company
2)Hitch-hike. But it's quite difficult here compared to western countries
3) No lavish dining. At coffeeshops only, occasionally at food court. I don't order drinks, and i drink water frm soup if provided or tap water.
4)Use and buy second hand gds

regardng no.2 haha i was at coffeeshop last night and thinking y hitchhiking is "ok" in oter countries.. i think it relates alot to culture issue. in western countries, the states r far frm each other, and ppl r generally more open and willing to help. so along the highway, ppl would want to help if theres a hitchhiker on e road, esp going to same state destination.

while you look at sg, hitchhike? no money take bus la!
(the irony is while we are a smaller country, ppl prety much remain to themselves & would rather give a few coins than offer a ride..)

3) ah... health warning - some coffeeshop e tapwater can be quite unpure.. not that you would be able to see frm naked eye.. it takes a filter. esp those near industry area..

hm.... (at he risk of stating an obvious again..)
4)Use and buy second hand gds that you really need
 
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