Money Saving Techniques

[Starbelle]

Not like they have a choice.. a lot of places now is minimum 20 to 25 tables already leh

That's why opt for restaurant or smaller conference room lor.

 

[wadsad]

actually sometimes i wonder why need to make until so grand.

but nowadays seeing more of those buffet lunch liao.

 

[annabellens]

I rather downsize then to be in debt and even have to invite not that close people to fill up the gap

 

[WhiteHunter]

Wa need lunch and dinner anot? This one really got money no place to spend is it?

lunch and dinner then prepare to be in debts cos most ppl would give angbao once.

 

[buaytuckchek]

Always make sure that your expenses is lower than your income.

You may earn a lot, but if you spend more than you earn, you are still going to get into trouble. *Example Johnny Depp

Imagine your money is like the water flow at a dam. To build up the reservoir, your outflow must be lower than inflow. If you want to be able to afford a large outflow (expenses), you need BOTH large inflow and large reservoir. Having large inflow alone is not sufficient because if you lose the large inflow one day, you will face trouble because your reservoir will not last long enough till you find your replacement large inflow and/or for you to adjust your outflow.

Live frugal, be minimalist and do not spend more than you need. What you want may not be what you need. Know what is a must have versus good to have and luxury. Monitor your expenses, that will help you do reflection every month.

Do budget allocation for fixed expenses by yearly instead of monthly. This will ensure that you have pre-allocated the funds that are mandatory, such as your bills, insurance, investment, taxes.

 

[Chairmanskik]

This thread so nice....

There's no such thing as 'cheap' in Singapore.
Really need to save more.

 

[shane2000]

Just wanna contribute a bit from my own saving technique not sure if any esteemed member hv shared before.
Once a year I will usually do a bulk purchase which is during my birthday or within that month itself. Most of the retail shops with membership plan would provide at least 10% - even 50% special discount for birthday member.
i.e. I am using body shop skincare products everyday, and in last birthday I did bulk purchase of total about $300 and was given 25% discount which helped me save up $75.

 

[qhong61]

Just wanna contribute a bit from my own saving technique not sure if any esteemed member hv shared before.
Once a year I will usually do a bulk purchase which is during my birthday or within that month itself. Most of the retail shops with membership plan would provide at least 10% - even 50% special discount for birthday member.
i.e. I am using body shop skincare products everyday, and in last birthday I did bulk purchase of total about $300 and was given 25% discount which helped me save up $75.

U have so much storage space?

 

[shane2000]

Have to squeeze lor for the sake of savings

 

[Mr.Canberra]

Always make sure that your expenses is lower than your income.

You may earn a lot, but if you spend more than you earn, you are still going to get into trouble. *Example Johnny Depp

Imagine your money is like the water flow at a dam. To build up the reservoir, your outflow must be lower than inflow. If you want to be able to afford a large outflow (expenses), you need BOTH large inflow and large reservoir. Having large inflow alone is not sufficient because if you lose the large inflow one day, you will face trouble because your reservoir will not last long enough till you find your replacement large inflow and/or for you to adjust your outflow.

Live frugal, be minimalist and do not spend more than you need. What you want may not be what you need. Know what is a must have versus good to have and luxury. Monitor your expenses, that will help you do reflection every month.

Do budget allocation for fixed expenses by yearly instead of monthly. This will ensure that you have pre-allocated the funds that are mandatory, such as your bills, insurance, investment, taxes.

This is exactly my mantra since I was young.

Capital preservation and retaining purchasing power is more important in order to survive in the long run. Prudent wealth management is a lifetime effort. If one think very short term you will never achieve any progress.

Now living a carefree and financial worry free lifestyle. Work only when I want to.

 

[1982-1994]

Which is why I believe, save up while you're gf-less.
1) Plan how much you need for your "dream" wedding and work it to there until 70% (your other half of course have to bear 30% ).
2) Start looking/buying for house even before start ROM, cuz when ROM starts, thats where your $$ starts shrinking.
3) After ROM, look for wedding package. Lock in the price first even though your plan is 2 years later.
4) Possible use your card to do instalment (together) for all furniture/household purchases. You shld be able to clear it off by the time ur house is ready.
5) By the time your wedding banquet close, you basically don't really have to fork out much already after your prepaid via instalment.

That's how I learn this from my sister.

I spent about:
7.6k on wedding bands and 四点金。
4k on 聘金.
1.2k on buffet at home instead of wedding dinner.
miscellaneous stuffs like car rental, 喜饼, teochew traditional stuffs, photography for
tea ceremony, my own wedding suit total about 1k

grand total about 14k.

was tight on budget and skipped the photography. but I set aside 4k for our trip to oversea including taking wedding photos.

my wife and I just wanted a very simple wedding ceremony. her parents also never mentioned the amount of dowry, they just said up to my sincerity. and they are down to earth people.

me and my relatives rarely keep in contact.
if not because of my dad who insisted on inviting relatives due to respect, we would have skipped the buffet. it was not about saving $1.2k but saving the trouble of entertaining them,and delivering the 喜饼 to them too.

OK la, received $5k of angpows though.

I have a friend whose wedding was held at kopitiam, seriously. no give dowry and all.his wife and himself are very thrifty one, suited for each other.

I'm fortunate in a way that my in laws not asking much from me except to take good care of their daughter.

edited:
I spent like 14k.
my wife forked out her own stuffs, like her cheongsum,bridal gown, accessories on taobao, tea ceremony stuffs, those喜字帖,shoes, about sgd500.
at least the suit I bought and the gown my wife bought can be kept as souvenirs.

if you want to save instead of getting packages at bridal shops,go taobao and 65代购order those wedding stuffs, most wedding shops in SG charged at least $800 for wedding gown (shorter one) with suit, make up, flower.

my mum even like the cheongsum my wife bought.

 

[1982-1994]

ROM also must host a lunch at some hotel or restaurant cos you still need witness and likely it will be parents or relatives.

I invited the solemnizer to my house early in the morning. some of my relatives witnessed our solemnity, tea ceremony and then dinner buffet.

 

[throwawaygrad]

I spent about:
7.6k on wedding bands and 四点金。
4k on 聘金.
1.2k on buffet at home instead of wedding dinner.
miscellaneous stuffs like car rental, 喜饼, teochew traditional stuffs, photography for
tea ceremony, my own wedding suit total about 1k

grand total about 14k.

was tight on budget and skipped the photography. but I set aside 4k for our trip to oversea including taking wedding photos.

my wife and I just wanted a very simple wedding ceremony. her parents also never mentioned the amount of dowry, they just said up to my sincerity. and they are down to earth people.

me and my relatives rarely keep in contact.
if not because of my dad who insisted on inviting relatives due to respect, we would have skipped the buffet. it was not about saving $1.2k but saving the trouble of entertaining them,and delivering the 喜饼 to them too.

OK la, received $5k of angpows though.

I have a friend whose wedding was held at kopitiam, seriously. no give dowry and all.his wife and himself are very thrifty one, suited for each other.

I'm fortunate in a way that my in laws not asking much from me except to take good care of their daughter.

edited:
I spent like 14k.
my wife forked out her own stuffs, like her cheongsum,bridal gown, accessories on taobao, tea ceremony stuffs, those喜字帖,shoes, about sgd500.
at least the suit I bought and the gown my wife bought can be kept as souvenirs.

if you want to save instead of getting packages at bridal shops,go taobao and 65代购order those wedding stuffs, most wedding shops in SG charged at least $800 for wedding gown (shorter one) with suit, make up, flower.

my mum even like the cheongsum my wife bought.

Sounds great! I'm thinking to just ROM at home (neo garden have wedding theme buffet, btw) and skip all the angbao, jewellery etc except wedding bands...but my bf don't want ppl call him stingy and would rather ROM privately first then save up for a proper ceremony, like how our parents did it.

For saving money though, I think self discipline is impt:
1. When going out, skip ordering extra food like popcorn at the cinema.
2. Use one of those shower gloves to save on shower gel it sounds lame but using them I cut down my usage from 4 pumps to 1 (with enough to spare)!!
3. Try not to change hp for no good reason. My bf used the same phone for 4 years while I'm the type to change phones twice a year, so I really must kick that habit

 

[1982-1994]

proper ceremony includes holding a wedding dinner?
aiya marriage is between two of you, if you don't mind no 四点金,then OK what. because ultimately,you'll be the one keeping it.

unlike my wife, she wanted it as she felt gold is worth for money should someday she pawns it or sell to the jewelry shops.

your friends and relatives attending your wedding buffet sure give angbaos one. because one would feel malu if never give.

or you mean skip all the 聘金聘礼from your bf? that really depends on your parents liao.

from your replies, you are thrifty and thoughtful. how old are you?

 

[GalaxyS7]

Carousell app

 

[babyrobo]

I avoid buying drinks from convenience stores like 7-11.. Try to bring out my own water bottle or buy from supermarkets or dollar shop instead.

 

[Mr.Canberra]

I avoid buying drinks from convenience stores like 7-11.. Try to bring out my own water bottle or buy from supermarkets or dollar shop instead.

Many of us including myself fall into the penny wise, pound foolish trap.

We should be exploring more ways to get multiple streams of income.

 

[babyrobo]

Many of us including myself fall into the penny wise, pound foolish trap.

We should be exploring more ways to get multiple streams of income.

Not everyone is that "elite" happy to start small.. Even if I am able to achieve multiple streams I'll still be happy to save on what I think is overpriced. Of course u can argue we can always drink tap water (though I can't due to weak stomach)

Can share your multiple streams of income?

 

[YNWA1986]

Kind of agree. We should think about exploring how to earn more instead of focusing on budgeting.

Many of us including myself fall into the penny wise, pound foolish trap.

We should be exploring more ways to get multiple streams of income.

 

[slogd3ad]

Burning all my savings soon for my wedding and bto (reno and furnitures).
After that, back to Savings 101.