4 ways Singaporeans can spend their money smartly in the economic slowdown

4 ways Singaporeans can spend their money smartly in the economic slowdown

This article was originally from GET.com at: 4 Ways To Spend Your Money Smartly Amidst The Economic Slowdown

Have you already started feeling the effects of the economic slowdown in Singapore? In times like this when the majority of us have to watch our spending and jobseekers have to relook their options, it's only sensible that we stop wasting money unnecessarily, pronto.

Here, we at GET.com put together a list of 4 ways you can spend your money smartly amidst the challenging restructuring economy.

1. Opt for cheaper options

It pays to do your homework and suss out cheaper alternatives whenever possible, no matter whether you're shopping for perishables like bread and fresh vegetables, frozen food, or washing detergent. What's the point of spending so much more on things that do just as well as those that are more pricey?

For convenience sake, I paid $8+ for a pack of Nature's Wonders Baked USA Walnuts at Cold Storage recently, but was shocked to find that NTUC FairPrice had the exact same thing retailing for $6+. Sometimes, it really pays to go the extra miles (literally) when you're looking to save some money.

If you like eating out, check out these amazing and inexpensive places to treat the foodie in you. Also, be sure to go to these cheap places to shop at for your daily needs. As a matter of fact, things sold cheaper doesn't mean they're necessarily bad or lousy!

5 things Singaporeans should do in the economic slowdown

2. Even better, make a beeline for free stuff

Life still has to go on even when the economy isn't glistening and shining bright, so why not start embracing free things and brush off the social stigma of being labelled cheapskate? Free stuff exists for a good reason, so don't let these go to waste.

Don't know where to start? Here are some fun and free things broke Singaporeans can do in their free time. Also, nobody says it's a crime to be a tourist in your own country, so pack your bag and start exploring places you can visit for free in Singapore. Not only do you get to learn more about what Singapore has to offer, you'll also save a lot of money while using your free time to its fullest potential!

3. Make use of cards that give you discounts

Cash is great, but cards are better sometimes. For instance, if you're frequent traveller, you might want to take a look at the best credit cards that convert your rewards points to actual miles for free and cards that throw in free VIP lounge access. It's a known fact that most credit cards charge a fee each time you convert your rewards earned into usable air miles in Singapore.

Also, I'm not just talking about credit cards that can help you save money, because things like food court discount cards and shopping discount cards exist, too. Along with rewards credit cards and cashback credit cards, these amazing cards will help you save extra money along the way if you play them to your advantage.

5 things young Singaporeans waste money on without realising it

4. Be at peace with your appearance

Do you feel strange if you have to re-wear the same outfit over and over again when you go to work or attend classes in university or poly? Over so many years of impulse shopping and shopaholic craziness, I've finally learnt to bid goodbye to that kind of unsustainable, harmful lifestyle.

To be frank, there's absolutely no need for new clothes, shoes and bags every other week because it's just a waste of money in the end as you'll likely wear the same few pieces in your wardrobe most of the time. By the way, minimalism is a huge trend in itself right now. And I hope it stays this way for a long time to come.

Additionally, it might also help if you stop buying tons of makeup just because you want to post Instagram-worthy selfies for the entire world to see. Social media can really make you poorer if you let it take over your life.

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