25 Real Money Saving Tips in Singapore

It’s always wise to set aside your salary for a raining day and cut back on your expenses no matter how well you are doing now.


Setting aside a little a day goes a long way when the time comes when you need those hard earn money. Today we share 25 real ways you can save money in expensive Singapore city.

Automate Savings

It’s a good idea to have two separate bank accounts in order to create a structure in your accounting. You can opt to automate your accounts so a portion of your pay automatically transfers into your dedicated savings account and cannot be deducted.

Use Promo Codes for Online Shopping

Before you hit the ‘checkout’ button on your online basket, do a quick online search for available promotional codes. Promo codes can save you on average 10 to 15% on your purchase. View here for all our latest promo codes from top online retailers in Singapore.

Use the RIGHT credit card for the RIGHT Purchase

Always use the right credit card for the right purchases and paying your bill on time. Accumulating late fees can become hard to manage.

Lower your Credit Card Limit

If you already have a credit card, it can really help your finances to lower the limit. A lower limit can reduce impulsive spending.

Compare Bank Loan Interest Rates

The biggest money saving tip may be obvious to some, but is often ignored. Taking on a loan is a big financial responsibility and it is hugely beneficial to do your research before deciding on one. There are ample resources online to do a quick loan comparison that could save you a lot of money on interest rates.

Compare your Insurance before Purchase

Again, it seems obvious but many people simply accept the insurance policy that arrives in the mail. Every year you should do another quick online comparison to see if your current provider is still the most competitive.

Purchase Only Travel Deals

Travel has become a very competitive commodity. With a cluttered market of providers, it will save you money to search for discount sites and promotional codes before purchasing any tickets or booking accommodation.

Save with Public Transport

In large cities, a car can be a costly convenience. On days that you can, opt to take public transport or organise a car pool with colleagues.

E-Scoot to Save

Another great alternative to the money-guzzling car is an electric scooter. If your office is not too far from home, this is an easy and enjoyable way to save money on petrol and tolls.

Sell away your unwanted items

Selling items you no longer need or use is a great way to create an extra cash stream and declutter your home. Use sites such as Gumtree or eBay to quickly purge yourself of unwanted items.

Hire a Dress, don’t buy!

The phenomenon of designer hire is taking off, and for good reason. You can rent a stunning dress for a one-off event for a quarter of the price it would be to buy it outright. The dress lender takes care of the delivery and dry-cleaning is usually included in the cost.

Track your Spending with an APP

With so many apps on the market, finding a great expense tracker is an easy and effective way of tracking your spending. Use the app to set a realistic monthly budget, and then stick to it!

Pack Your Own Lunch

An obvious, but usually unpopular, money saving tip is to bring your own lunch to work. Dining out every day can be expensive, so limit it to one day a week and it will feel like a treat!

Cook up a savings storm!

You can also save money on food at dinner time. Opt to cook up a delicious meal at home instead of dining out during the week and save that special restaurant as a treat on weekends.

Rent Out an Empty Room

If the majority of your salary is going towards paying for your home, there is a great way to offset this cost. If you have a room that is currently unoccupied, you can advertise online to have someone rent it out. There are many safe and reliable roommate-finding websites that allow you to specify certain criteria and negotiate rental terms.

Think Twice Before you Buy

Sometimes, to save money you need to be a little bit cut-throat. Start evaluating every potential purchase. If you don’t need it, can’t afford it or won’t use it very often – let it go!

Compare Savings Account Interest Rates

If you think your bank’s saving account isn’t delivering you interest you deserve, shop around for one with a higher interest rate and switch over immediately.

Compare Bank Charges/Fees

Do a quick online search for the different bank charges/ fees associated with your account. If your bank is charging higher fees than others, switch to a bank’s saving account that charges a lower fees immediately.

Be Utility Savvy

There are some quick and easy ways to reduce your bills. Turn off all inactive lights and appliances at the power point to save on your electricity bill, while cutting down your shower time will save you on the water bill.

Write Down a Shopping List

Before you enter the tempting hub of spending that is the supermarket, come prepared with an exact grocery list. Only buy the items on that list to curb any impulsive shopping.

Be Brand Neutral

If you don’t need the more expensive brand, ditch it! Switching to home brands can save you money in the long run.

DIY Your Parties

Birthdays can become a very expensive occasion, especially if you have children. Parties can easily come alive, even on a tight budget. Forget a party planner, with so many DIY design tips and vendors online, it’s never been so easy to create a great party on a budget.

Cancel Cable TV Channels you don’t have the time to Watch

Entertainment is always a high spending category in the budget. Evaluate your media spending to find some obvious savings. For example, check how many pay TV channels you really need and cancel those you don’t watch very often.

Go Green

Energy can be a burden on the funds, but an easy one to offset. Purchase energy efficient home appliances, such as refrigerators, dryers and even light bulbs to save money in the long run.

Be a Sale Savvy (Kiasu) Shopper

If you aren’t in urgent need of new clothes, waiting for the sale periods can save you a lot of money. If you can, only buy clothes during the end of season sales to score some great bargains.

Hope the above 25 Money Saving tips are of some help to your current situation. If you have found this helpful/ useful, we would be so appreciative if you can show us some LOVE by sharing this article with your dear friends,.