Money Saving Techniques

[suangern]

I'm trying to save more too. I spent the most during lunch even though I eat at coffeeshop. A typical lunch at coffeeshop would be:

Rice + dishes or chicken rice or fish soup - approx $3 to $4
Fruit - 2 slices at $1.20 in total
Hot drink - 90 cents now
Snacks like bun, egg tart etc. - $2

As my family does not cook, I spend about $20 in total per day. Including weekends where I eat better (like tze char, no restaurants for me), I still spend about minimum $500 on food!

Therefore, my monthly expenditure goes like this:

Food - $500
Transport - $100 approx
Insurance - $200 (ILP and health plans)
Household (mom keeps this) - $100
Mom - $100
Dad - $100
HP - $60
Broadband - $33 approx
Miscellenous - $50

Those 2 highlighted in blue can be removed. Fruits can buy home to eat with family after dinner.

Hot drinks can also be removed, if your company got hot water.

 

[justluna]

Well, I think it is quite reasonable. Total for lunch is around $8. Why do you eat bun and egg tart? Probably you are still hungry and your mind is still craving for food or sugar. Sugar make you fat and get you diabetes. Hope this help you save $2.

Next, where exactly did your $12 go? I cook in the morning. Gardenia burger bun slice into half, along with slow frying egg (mcdonald kind), 2 slice of fresh ham and organic romaine lettuce. Breakfast cost me less than $1.50.

What exactly did you eat at ZiChar? Can't you cook at home? Fresher, healthier and cleaner ingredients. The reason i prefer home cook food, is because it is cleaner.

You're right, I get hungry at 3pm already, hence the extra snacks. The rest of $12 - dinner and breakfast. The price of food at zichar stalls has increased. Plain rice + sunny side up and sweet and sour fish or pork = $5.50 for example.

Since the last post, I have eliminated the fruits and snacks.

 

[Fyre]

to save money u can try:

1) chicken rice w/o the chicken. just the rice and chilli sauce. somemore can ask for free soup. $0.50.

2) rice with curry. as in just plain white rice with curry gravy. sometimes u might be lucky and get some small pieces of vegetables/meat with the curry. $0.40.

3) hardboiled egg. prepare at home. 1 egg only $0.20. eat 2 for a meal $0.40.

 

[dreamer75]

How to save on transport??

ComfortDelgro, SMRT request fare hike

SINGAPORE - Singapore public transport operators SBS Transit and SMRT have submitted applications to increase buses and subway fares due to rising costs, the two companies said on Monday.

"SBS Transit has submitted an application to the Public Transport Council (PTC) seeking bus and rail fare adjustments,"a spokeswoman for parent company ComfortDelgro said.

She cited rising fuel and energy costs as well as expenses incurred in the firm's fleet renewal exercise.

"In the last year alone, we have ordered another 600 buses at a total cost of S$268 million, which are scheduled for delivery in 2011 and 2012. In all, our 2,050 new buses are costing us some S$854 million," she added.

SMRT also said it has requested an adjustement to fares on its trains and buses.

Singapore earlier this year deferred its mid-year review of bus and subway train fares till the fourth quarter of the year, delaying what will likely have resulted in higher cost of public transport.

Rising inflation was one of the key issues during Singapore's general election in May when parties opposed to the ruling People's Action Party (PAP) made historic gains.

 

[iPrideFS]

Think logical, not emotional.

 

[jeronleow]

When it comes to savings, I think I consider myself excellent. I save almost 90% of my NET income, that's after CPF deduction. You would think that I earn alot, my pay is only $2k+ gross. How I did is this:

1) My company provides meals
2) I keep track of my expenses down to the cents on my handphone
3) I keep my meals during my off days to $3/meal
4) I refused to buy drinks outside. I bring a bottle
5) My pasttimes are cheap or free; go to the beach, sports
6) I don't smoke, drink, party

You would think I don't have a life but how one perceive "life" is very different and subjective.

 

[Emo_Rhino]

When it comes to savings, I think I consider myself excellent. I save almost 90% of my NET income, that's after CPF deduction. You would think that I earn alot, my pay is only $2k+ gross. How I did is this:

1) My company provides meals
2) I keep track of my expenses down to the cents on my handphone
3) I keep my meals during my off days to $3/meal
4) I refused to buy drinks outside. I bring a bottle
5) My pasttimes are cheap or free; go to the beach, sports
6) I don't smoke, drink, party

You would think I don't have a life but how one perceive "life" is very different and subjective.

bro the $3/meal abit hard... sometimes u walk ard, a normal dish is like $4-$5....

n meals offered by the company is sometimes cannot eat lidat everyday de... will get sick of it de...

the rest i can believe u...

 

[HandsTied]

You would think I don't have a life but how one perceive "life" is very different and subjective.

I agree with this point. I know of people who work so hard to support their extravagant lifestyles they don't seem to have the time to enjoy the material comforts they have earned.

 

[jeronleow]

bro the $3/meal abit hard... sometimes u walk ard, a normal dish is like $4-$5....

n meals offered by the company is sometimes cannot eat lidat everyday de... will get sick of it de...

the rest i can believe u...

Hi bro. You would not believe it, neither are the people who know about my lifestyle until I showed them my past 1 and half year expenses record. Infact theres ample $3 meal around;

Mix rice 2 vege 1 meat $2.80
Mee goreng $3
Chicken rice $2.50
Fishball noodle $2.50
etc. etc. etc.

There's no need for me to make up stories here but if there's a will to save you will do anything to save. I started late so I have to resort to this measure.

 

[jeronleow]

I agree with this point. I know of people who work so hard to support their extravagant lifestyles they don't seem to have the time to enjoy the material comforts they have earned.

Yes bro I agree. For me my happiness comes from doing things I love and not seeing what gadget or gizmo I have.

Let me do a breakdown of my June's expenses:

Meal - $103.90
Transport - $113.83
Hp bill - $33.22
Haircut - $3.80
Total - $254.75

You can see I do not have any entertainment expenses at all because they are usually free hehe.

 

[HandsTied]

Yes bro I agree. For me my happiness comes from doing things I love and not seeing what gadget or gizmo I have.

Let me do a breakdown of my June's expenses:

Meal - $103.90
Transport - $113.83
Hp bill - $33.22
Haircut - $3.80
Total - $254.75

You can see I do not have any entertainment expenses at all because they are usually free hehe.

That's really quite impressive.

This is mine just for fun:

Meal - $222.30
Transport - $127.00
HP - $46.78
Haircut - $14.00

I also spent $130+ on entertainment and $400+ on an overseas trip. Yikes!

 

[jeronleow]

That's really quite impressive.

This is mine just for fun:

Meal - $222.30
Transport - $127.00
HP - $46.78
Haircut - $14.00

I also spent $130+ on entertainment and $400+ on an overseas trip. Yikes!

I think this is a good way to keep yourself accountable to the people in the forum! Remember the P90X slimming system where you make a blog or video on your weight lost journey so that you hold yourself accountable to the public? If peeps here who wants to save post your detailed expenses like Handstied and myself so that we can nag at you for unnecessary expenses till you stop hahaha!

 

[gv122184]

my is as follow:

Meal:200+
Hp bill: 40+
Parent: 100
insurance: 80
Transport: 80

haiz.... drain like water
Any 1 know where to get extra income?

 

[gv122184]

Hi all, need advise for savin to buy a house now or in 2yrs time, becoz i don't hav a own hse, as my family stay in overseas.

i earn ard $2000 be4 cpf, cpf OA ard 11000
no saving
no mom as a 2nd applicant, no income, CPF 20000
bro income ard 2.5k mth

 

[SillyOldMan]

Hi all, need advise for savin to buy a house now or in 2yrs time, becoz i don't hav a own hse, as my family stay in overseas.

i earn ard $2000 be4 cpf, cpf OA ard 11000
no saving
no mom as a 2nd applicant, no income, CPF 20000
bro income ard 2.5k mth

You need to save up for the COV and 5% cash downpayment, total income of 4.5k between you and your bro should qualify you for a hdb housing loan

 

[SillyOldMan]

my is as follow:

Meal:200+
Hp bill: 40+
Parent: 100
insurance: 80
Transport: 80

haiz.... drain like water
Any 1 know where to get extra income?

You guys are really thirfty, this is mine per month

Meals: $600
HP: $110
Insurance: $700
Transport: $1600
Entertainment: $1600
Credit Card: $500

 

[mosaic1979]

Used to be more thrifty but now spend abit more.

Credit card: $700
Cash: $500
HP: $40
Trasport: $50 (Take mrt to work)
Misc Transport: $50 (weekend drive parent s car)
Money to parents: $500
Insurance: $400 (mostly endowments so still can consider as savings i guess but anyway)
Taxes: $600

Total: $2,840

Key thing i learned though is to try keeping your standards of living similar even when your income starts to increase. e.g don t go out to buy that new car when your income say hits $5k per month unless you really need it, don t start eating much more lavishly just because you received a 4 months bonus instead of 2, etc. There s a propensity for people to upgrade their spending along with any increases in income.

Nothing wrong in rewarding yourself every now and than, but if your income increases by 10% and your spending increases by 10% or more you know something is wrong.

 

[sneggg]

Used to be more thrifty but now spend abit more.

Credit card: $700
Cash: $500
HP: $40
Trasport: $50 (Take mrt to work)
Misc Transport: $50 (weekend drive parent s car)
Money to parents: $500
Insurance: $400 (mostly endowments so still can consider as savings i guess but anyway)
Taxes: $600

Total: $2,840

Key thing i learned though is to try keeping your standards of living similar even when your income starts to increase. e.g don t go out to buy that new car when your income say hits $5k per month unless you really need it, don t start eating much more lavishly just because you received a 4 months bonus instead of 2, etc. There s a propensity for people to upgrade their spending along with any increases in income.

Nothing wrong in rewarding yourself every now and than, but if your income increases by 10% and your spending increases by 10% or more you know something is wrong.

i really agree on this cause i spent much lesser n saved more when my income was smaller

 

[clearsky2007]

Used to be more thrifty but now spend abit more.

Credit card: $700
Cash: $500
HP: $40
Trasport: $50 (Take mrt to work)
Misc Transport: $50 (weekend drive parent s car)
Money to parents: $500
Insurance: $400 (mostly endowments so still can consider as savings i guess but anyway)
Taxes: $600

Total: $2,840

Key thing i learned though is to try keeping your standards of living similar even when your income starts to increase. e.g don t go out to buy that new car when your income say hits $5k per month unless you really need it, don t start eating much more lavishly just because you received a 4 months bonus instead of 2, etc. There s a propensity for people to upgrade their spending along with any increases in income.

Nothing wrong in rewarding yourself every now and than, but if your income increases by 10% and your spending increases by 10% or more you know something is wrong.

If your income taxes is $600 per month, you must be earning a lot.
6 digits per annum.

 

[mosaic1979]

If your income taxes is $600 per month, you must be earning a lot.
6 digits per annum.

Yes but I learnt something very valuable throughout the years. In life its not how much you earn, but how much you save that matters.

I know of people who earn similar income but who have dug themselves into a nice deep hole. Or people who are just on the edge of that hole. All you need is a financial crisis and the house of cards fall apart.