Remember the last time you went to the supermarket and got everything you needed and nothing else? Not us either.
Try these tips to save more money on your everyday essentials.
Certain kinds of medication, such as asthma inhalers, are almost half the price in Johor Bahru or Batam – both less than an hour away from Singapore. They can be purchased there without prescriptions, so even if you’re not headed there anytime soon (Perfect excuse, no?), you can always have some one else bring them back to you.
NEXT: Get someone else to shop for you →
Can’t help spending money at malls? Hand a shopping list to someone – say, your domestic helper, who will help you buy only what you need. Can’t face temptation? Don’t face it.
NEXT: Use credit cards as a mode of payment →
…but not for credit. Reap the rewards and discounts that come with utilising your credit card, then pay it back in full immediately so there’s no interest rate to worry about. That way, you get all of the advantages, none of the drawbacks.
NEXT: Save even while repaying your debts →
Never throw all your money at debt repayments. You must still save a little, even as you pay down your debt. This is because an emergency, if you have no savings, can force you into using credit again – thus undoing all your repayment efforts and keeping you short of money.
NEXT: Don’t buy in bulk when you don’t have to →
You do save money by buying in bulk, but do you really have use for two huge bottles of grapefruit concentrate? Don’t just buy anything just because it’s a good deal.
NEXT: Plan your groceries for a week →
Planning your groceries daily is simply too much effort and not the most money-smart. Planning for the month ahead, though, gives you the tendency to overestimate how much you’ll need. Find a suitable time frame – we’d recommend a week or so – to plan your grocery trips around.
NEXT: Don’t save your credit card info while shopping online →
When you can just buy with a click, you’re far more likely to make impulse purchases, even when it comes to something seemingly essential like grocery shopping. And all those extra bucks can add up to a huge amount in no time. If you have to manually enter your credit card information each time, however, you’re less likely to spend, and also less vulnerable to identity theft.
NEXT: Lay off the cheap junk food →
Buying junk food may be cheaper, but it’s all false savings. In the long run, the deleterious effects of cheap junk food will run up medical bills that far outstrip any “savings”. Also, gentle reminder about that diet that you’ve been talking about starting on all month.
NEXT: Buy your medication overseas →
By Ryan Ong, MoneySmart, August 2017
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