How to Save Money in High Cost Singapore

munzy06

munzy06

Member
I actually stopped buying jewellry and started making them for myself. In the first place I'm not big on diamonds and stuff so it's more stones and beads for me. And it gives me something to do. After awhile, hubby said I should sell it online which I did and started making some extra money which is good for the household expenses..


FD is fixed deposits - it can be from 1 month to 24 months. The interest is higher than normal deposits account but still lower than the returns you can get from investments. If you want to find out more, just go any bank like DBS for instance banking services page and you can find out more like their interest rates, any savings promotion packages etc.
 
geigaogirl82

geigaogirl82

New Member
Hi munzy, i've tried selling handmade rings too:D However, the glue tend to worn out quickly, thus some of the parts drops off easily. Do you have any suggestions on this?
 
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gobby23

Member
Well I think we can all agree that saving money in banks are not worth the effort as the interest rates offered are so low as compared to inflation. So my family has a two pronged approach. Firstly, we believe more in making our money work for us. So most of our money including rainy day fund is tied up in investments. For what kind, the investments list. Note: most of our investments are easily liquidfiable so not an issue to get cash if we need it. I wanna talk more about the cutting cost bit. Firstly, there's no need to take the car everywhere. A lot of my friends use the car EVERYWHERE they go, even if it's 800m away. I repeat..absolutely no need. Sometimes even when we want to go to town, we take the train because by the time we navigate the traffic jam and find a parking spot, I could have been done with my shopping two times over. Use the car only for times when a car is actually useful - like if you need to take the dog to the pet, transport things etc. You will be surprised how much money we've saved in petrol and parking fees (est $600). Next, the A/C. I know that's a sensitive topic to many of us especially the sort of weather we have here. Well, I love my A/c and can't live w/o it but instead of having it switched on for the whole house. I keep it to one room - the study room. I spend most of my time in there and when the kids get back home after school, they play in there as well. So est savings there is about $150.

Next, grocery shopping. I'm not a fan of supermarkets especially those high end ones like marketplace etc. I only go there to get basics like milk, instant noodles, etc. The rest of the food for the family, i get it from wet markets. And ladies please...don't buy those pre-cut onions, garlic, meat etc. It's usually 25% more! Just cut it yourself ;) The kids love ice cream especially B&J but they are so freaking expensive. Well kids are kids at the end of the day so if you feed them B&J or XYZ brand, they will still love you for giving them ice cream. Unless it's specific, we usually buy generic or store brand for many of our stuff. Entertainment - like many others here, we do free stuff. We take the kids out to the park, the beach and leave them to it. They are usually quite happy to run around, ride on their bikes etc. Anyway isn't it good that kids get out? I don't believe in throwing an iPad to the kid and leaving them to it. Not healthy. However we still go out properly though, once a month we go out for movie night. That's when we splurge a little...popcorn etc.

So that's how my family cuts expenses. Anyone has a similar method? Please share!
 
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sasha10

Member
invest with very safe investment back up with hard asset, with the yield of return that give you consistent return every year more than 10% per annum. at least you can beat inflation this way.
if keen to find out more feel free to sms/whatsapps me at 81176731. This is very genuine advise as i was stay at home mom for 4 years..i know how it is liked.
 
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