Money Saving Tips to Cope With Inflation

Here are some money-saving tips from parents who are experts in making each cent count:


1) Eat less, eat at home more
Someone suggested eating only two meals a day – a jam or cheese sandwich he packs to work for lunch and dinner at home. He saves on eating out and avoids highly salted, MSG laden hawker food. Eating less also makes him look younger and prevents him from putting on weight. Another tip: cut down on snacks like biscuits, chocolates, chips and soft drinks which are expensive and only have empty calories.


2) Don’t use branded goods
House brands are cheaper and offer the same quality as normal goods because we don’t have to pay advertising and marketing cost. Alternatively buy toiletries and other necessities from those budget shops in the HDB estates. They are much cheaper than the supermarkets or department stores.


3) Don’t use air-con, use the fan
This one works wonders for your electricity bill. I managed to shave $30 off my bill each month by installing a ceiling fan in my daughter’s room. Other ways to save electricity include switching off your appliances when not in use, watching less TV and using energy saving bulbs.


4) Save on transport
Take the train or bus wherever you want to go instead of the cab. For short distances, don’t be lazy and take a walk instead of public transport.


5) Don’t join a gym
You can exercise for free at the stadium. The stadium’s running tracks are made of a bouncy material that helps protect your knee’s cartilage from damage and you get to shower for free. After that you can proceed to swim at the public pool next door for slightly more than a dollar.


6) Borrow from the library
We all know that it’s important to instill the love of reading. But books are an expensive investment. It also takes up space and collects dust. So don’t buy from those cheap sales which you find in the shopping centre atrium. Make full use of the national library’s enormous collection and you’ll be saving money, space and cleaning efforts. You have three weeks to finish the book and you can return it to any library that is convenient for you.


7) Get a free mobile phone
The best way to get one is to sign up with your service provider on a contract. Some hand phones come free, but of course those do not have any fancy features that allow you to check your emails on the go. If all you need is a phone that makes you contactable, this should just do the trick. You can always pay a couple of hundreds more for a better version but this is definitely cheaper than buying a new set without a contract.


8) Recycle and earn at the same time
Someone suggested that we should diligently collect old newspapers, magazines, calendars, mailers and brochures which are handed out to you at the MRT or shopping centre and resell to the karang guni man for a few cents. In that way, you contribute to saving the planet by recycling and you actually earn money for your efforts.


By Michele Soon