Get an accessible and easy-to-use cookbook and try making some of the dishes inside. You’ll find that cooking at home is much easier than you think – and way cheaper and healthier than take-out or dining out. Even better, you can easily prepare meals in advance – even handy fast-food type meals.
42. Switch to term life insurance.
Repeat after me: insurance is not an investment. If you’re stuck in an expensive whole life policy, choose cheaper term insurance instead and use that difference in cost to get yourself out of debt and start building some wealth. However, being said that, having a medical insurance with rider is still crucial in the event of misfortune.
43. Stick to reliable, fuel-efficient cars.
A reliable and fuel-efficient car will save you thousands over the long haul. Let’s say you drive a vehicle for 80,000km. Fuel consumption varies according to different vehicles. Take for example, a normal Japanese branded motor car could drive you 12km/litre on average while others may be 10km/litre. Imagine the petrol saved while driving a more efficient car? Estimated of a whopping $3000+ annually (based on $2.30 per litre)
44. Avoid the mall.
The mall might be a fun place to people watch, but it can also be packed with temptation. That’s why you should avoid the mall unless you actually need to purchase something.
Trust me, window shopping when you’re on a budget can be torture. Unburden yourself and find something else to do when you need some entertainment. A walk outdoors, a fun puzzle, or a good movie can easily replace your regular mall shopping adventures.
45. Master the 10-second rule.
Whenever you pick up an item and add it to your cart or to take it to the checkout, stop for 10 seconds and ask yourself why you’re buying it and whether you actually need it or not. If you can’t find a good answer, put the item back. This keeps me from making impulse buys on a regular basis.
46. Rent out unused space in your home.
Do you have an extra bedroom or in-law suite that’s not being used? Rent it out on site like PropertyGuru or Iproperty. Airbnb.com will be a good platform however Singapore have yet to approved Airbnb to Singapore market. If you live near a popular or tourist area, doing so could bring in a lot of extra money. Just make sure you know the risks and are willing to take the steps required to protect your family and your possessions.
47. Create a visual reminder of your debt.
To put your debt into terms that are easy to understand, make a giant progress bar that starts with the amount of debt you have and ends with zero. Each time you pay down a little bit, fill in a little more of that progress bar.
Keep this reminder in a place where you’ll see it often, and keep filling it in regularly. It can help keep your eye on the prize and lead you straight to debt freedom.
48. Online newspaper / magazine subscriptions instead.
Do you have a pile of unread magazines sitting around your house? It’s likely the result of a subscription that you’re not reading. Not only should you not renew that magazine, but you should give their subscription department a call and try to cancel for a refund. You never know – they might even give you the prorated amount back. Having your subscription online not only allow you to save money, it is more environmental friendly. Saving Gaia!
49. Eat breakfast.
Eating a healthy breakfast fills you up with energy for the day while also curbing your desire for a big, expensive lunch. Meanwhile, breakfast can be very healthy, quick, and inexpensive. A bowl of cereal and coffee / milo in the morning is often the one thing that keeps me from running out to eat an expensive lunch later in the day.
50. Recycling the waste
Living in a society of having high education standards, people are reading most of the time. There comes the piling of newspapers, magazine, books and notes. I was surprise to find out last year that i have still kept my Secondary School textbook and exercise book which is of no use to me. Consolidating our paper waste or even used clothes / furnitures to sell to Garang Guni will always be better than dumping to the waste bin. You probably can get a few dollars out of it.
51. Don’t fear leftovers: Jazz them up instead.
Many people feel as if leftovers are just inferior rehashes of regular meals. However, there’s nothing cheaper than eating leftovers, and with a few techniques for making leftovers tasty, you can often end up with something surprising and quite delicious on the other end.
My favorite technique? Chaining – using the leftovers as a basis for an all-new dish. For example, if you have leftover egg and rice from last night’s meal, use them to make fried rice or baked rice tonight by simply adding cheese!
52. Go through your clothes – all of them.
If you have a regular urge to buy clothes, go through everything that you have and see what you might find. Take the clothes from the back of the closet and bring them to the front, and suddenly your wardrobe will feel completely different. Take the clothes buried in your dresser and pull them to the top. You’ll feel like a brand new person who doesn’t need to spend money on clothes right now.
Instead of going out to eat at work, take your own lunch — if not every day, then at least a couple of times a week. With some thoughtful preparation and just a few minutes of time, you can create something quite enjoyable and cheap for your lunch-box – and save a fistful of cash each time you do. Your co-workers may not understand your desire to save money, but that’s their problem.
54. Learn how to dress minimally.
Buy clothes that mix and match well and you won’t need nearly as many clothes. If you have five pants, seven shirts, and seven ties that all go together, you basically have an endless number of options already.
This is exactly what I do in order to minimize clothing purchases and still look professional – I just mix and remix what I wear by using timeless, simple pieces that go well together.
55. Ask for help and encouragement from your inner circle.
When you’re feeling discouraged, sit down and talk to the people you love and care about the most and ask them for help. Tell them that you’re trying to trim your spending and you’d love it if they would offer any suggestions and support they might have.
Then, pay attention to what they tell you. They might have some personal insights for your situation that will really help. At the very least, they might understand your situation better.
56. Try to fix things yourself.
Years ago, it was far more difficult to find ways to fix everyday items we have in our homes. But today, it should be a piece of cake. You can find online tutorials and videos that show you how to fix almost anything, and all for free. No matter what you’re trying to fix, it’s always worth a shot. Learning a new skill never hurts either.
57. Keep an idea notebook in your pocket.
I’ve wasted countless amounts of time and money simply because I’ve forgotten some of my best ideas. Nowadays, I keep a small notebook with me to jot down ideas so that I never forget anything important. This keeps me from forgetting the ideas I have throughout the day.
58. Invest in a deep freezer.
A deep freezer can be a great bargain after the initial investment, but only if you’ll use it. Often, having some extra freezer space allows you to buy in bulk and pay lower prices overall. Even better, you can store lots of meals prepared in advance, enabling you to just go home and pop something homemade (and cheap) in the oven.
59. Look for a cheaper place to chill / rest.
While hanging out with friends when you are out or when deciding on a meet up location for a chat, research and choose for a cafe that comes with cheaper drinks / snack food. What's better, some cafes in Singapore do offer FREE wifi. Steady Lah!
60. Check out free events in town.
Singapore have become so developed over the years. There are many sports facilities and events happening all year round. Basketball / Badminton courts are available free for all to use. Swimming complex comes with a minimum charge for entrance however, for those who are not aware, government do gives credits for using of sports facilities. It has become so convenient using ActiveSG application too. Do more sports, stay healthy, don't burden the pocket.
Half way there....
20 more coming soon!