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30 Amazing Tips To Save Money In Singapore

While some countries got lower living costs, Singapore continues to rise and consistently kept the top place in recent years. So we have created 30 amazing tips to save money in Singapore.

As we know, Singapore has one of the highest costs of living globally, and if you are one of those average earning workers, it will help if you can save even a few dollars. Even The Economist rated Singapore as the country with the highest cost of living globally, topping over Zurich, Hong Kong, Paris, London and New York. The survey used the prices of the commodity, the currency devaluations, and geopolitical uncertainties. 

While many consider that salaries are high in the country, once compared with expenses, the regular paycheck does not seem enough anymore for average wage earners. So, if you are one of those who live payday after payday and you want to keep your head afloat, here are some tips to save up a few bucks.

Tips to save money


Catch the free early-bird MRT ride before 7:45 am.

Wherever you plan to go, or if you will work early, catch the free ride to city areas. Just be sure to tap any of the 18 destinations before 7.45 am during weekdays. Don’t beat yourself up if you miss it by a few minutes. The MRT offers a 50-cent discount off MRT fares before 8 am.

Choose from the destinations: Telok Ayer, Tanjong Pagar, Somerset, Promenade, Raffles Place, Outram Park, Marina Bay, Orchard, Lavender, Esplanade, Downtown, Dhoby Ghaut, Clarke Quay, Chinatown, City Hall, Bayfront and Bugis.

RELATED: Keys to Save SGD 1Million Before Retirement

Avail the fee subsidies for children

Get this for infant care and childcare and student care to young children from lower-income families in NTUC First Campus. Education does not need to be too expensive, especially if you are a Singapore citizen. However, since childcare and children’s education can bite a big chunk of the budget with at least two kids in the family, know where you can save up without sacrificing on quality education, uniforms, equipment, excursions, camps and other extracurricular activities.

Enjoy study grants

Some offered student grants to full-time Singaporean students in a Government or Government-aided school. Those who can academically excel than most students can apply for Edusave scholarships, good progress awards and bursaries.

Apply for UTAP and WTS

Working adults can qualify in Union Training Assistance Programme and Workfare Training Scheme. As a result, they can upgrade their working skills while getting funding assistance.

RELATED: 10 Money Saving Secrets for Newly Married Couples

Visit national parks

The country has plenty of parks to visit. Singapore Botanical Gardens, Gardens By The Bay, and the Southern Ridges have free admission. The Changi Airport attracts non-travellers with magnificent views suitable for hanging out and family bonding in all three terminals. It has free wifi, a 24-hour food court, various restaurants, a giant slide for adults, a play area for kids and a tax-free shopping area.

Finally, visit the Singapore Art Museum and see Asia’s most significant modern art collection.

Seniors watch in the cinema.

All Golden Village cinemas give senior citizens above 55 movie tickets at $4.50 on weekdays before 6 pm.

Set automatic bank payment

If you need to pay some loans fast, have your bank automatically send the payment from your paycheck. This way, there is no need to fuss over it. And you can avoid thinking about not paying for a while.

Have a particular goal

Give yourself a specific goal like saving at least six months’ worth of salary in your savings account. Do not forget to tell the people around you about this goal. They can help by reminding you. Make sure that your goal is attainable and even time-bound.

Bulky Tips to Save Money 

Buy in bulk but do not bite into the ‘sale’ traps. For example, do not buy gallons of milk just because it is on sale but because you need it.

Never save your credit info online.

It risks your identity and savings when shopping or applying for a loan. So be careful where you input these details, and remember to log out.

Tips to save money while paying your loans.

Spending is not enough. Make sure that you are still saving even a few cents. It is essential to have extra cash if you have an emergency. If you get into a tight budget, you can get a payday loan. It’s one of the best tips to save money. Some legal online moneylenders offer short term loans that you can pay every paycheck release.

RELATED: 3 Practical Tips to Build Enough Retirement Savings

Have someone shop for you.

Give a shopping list and let the person shop and stick with it. It is a good idea if you are the kind of person that tends to buy things when buying needed items impulsively.

Hang around with thrifty people.

Change your company. Those who spend carelessly are most likely to influence you if you are around those who spend carelessly. Be around frugal people, and you will soon be like them.

Shop with credit cards but pay immediately to get rewards.

Many banks offer credit card discounts and freebies if you use the card and pay immediately. However, make sure that you only buy those you can afford to pay. Have a personal limit when shopping. Plus, aim to settle for those you shopped immediately.

Tips to Save Money: Compare Things First

It’s best if you see which one has a higher potential loss. For example, if you have a long list of items you wish to but do not have enough cash, compare them and choose which one can benefit you.

Plan your groceries

Schedule your grocery shopping for just a week, not a month. Buying a week worth of groceries and necessities helps you estimate reasonably the quantities of what you need.

Have a home project

Explore your inner self white at home. Engage in activities like finishing reading a novel, knitting scarves, and having a herb garden. If you develop a hobby at home, you will think less of going out and shopping.

Negotiate fees if you can.

You have the freedom to negotiate with your banks and service providers. However, many companies do hear out their customers to retain them.

Have a joint account.

You need the other person’s permission to cash out. Without the person’s consent, you can’t get the cash and soon, your impulse to buy will disappear.

Face the salesperson on your own

It’s best to have some time for yourself. Then, if needed to get out, say you’ll ask your husband/wife. Many sellers would insist on selling to couples because they most likely will decide then and there, and there will be no way out of it.

However, if you are alone, not only will you have an excuse, you can get yourself extra time to think about it before spending cash.

Pay off your loans in the proper sequence.

It will give you a clear mind and lay out your budget in series without overlooking due payments. Also, it’s one of the easy tips to save money and avoid incurring more debts. 

Adopt a pet, not buy.

Adopting a pet is less expensive. It does not change your love for pets. Instead, you even help pets who are on the brink of being killed. Sometimes sellers of animals with expensive breeds are doing illegal transactions.

Check if your medication is cheaper abroad.

Then, if you can have a way, buy the prescription abroad, make sure that it is legal and all requirements are available and at hand.

Compare insurance policies and loan APNs before deciding.

APNs will help you see how much are you paying in a year. The monthly payment for a long life loan can prove more expensive, and you could end up paying way too much than you borrowed.

Have a specific credit card

If you have a car, it can be a Citibank Esso Mobil privilege card. Privilege cards can get you discounts and freebies. Who does not love those? So keep track of shops you frequent if they give freebies or deals based on the points system.

Learn to sell on the internet.

There are many buy and sell sites like eBay. If you are not using some items, but they are still in good condition, sell them online and get extra cash.

Ask for company discounts.

Check if your company has special discounts for employees. For example, some companies give discounts to employees who avail their services and products. In addition, some companies offer discounts to sister and affiliated companies.

Skip the junk foods

Avoid cheap junk foods. If you get sick, it will generate medical bills.

Check share economy online.

These are services like AIRBNB and eBay. Get to know the economic trend if you decide to deal with stocks. Also, you can have an idea if certain products or services get more expensive or cheaper.

Always Clear Cache

After you search, always clear cache for cheap hotels and flights. A lot of sites keep track of your searcher with cookies. Sometimes your info is being saved, and if you keep on using the same website, the prices will tend to go higher as they think you will continue to avail of their services even if it is slightly more expensive.

There are still many ways to save money, especially for rainy days, but if there is no one to turn to should a need arise, check private money lenders online, and they will be willing to assist you. In addition, some loans will have flexible payments details, such as the payday loan.

Related: Licensed Money Lender Singapore Review – Where to Find Top Licensed Moneylenders in Singapore

Ultimately, saving money needs to focus, self-control and dedication. Make saving a habit, and you will realize that it is helpful during dry months.