The Best Ways to Save More Money Every Month

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Are you one of the 50% of Singaporeans that don’t expect your finances to improve in the next six months? According to a recent Harris Poll, 30% of the people in Singapore feel that their finances will worsen. Fear of losing your job or losing money influences us tremendously.

There have been studies done by behavioral finance experts that say by nature we seem to look at our situations as worse than they are. Is that true for you? One solution to this problem is to figure out how to conquer the emotions that stop you from making the best financial decisions you can

Saving money may be challenging for you for a variety of reasons. Why do you think that it is more important than ever before to save money?

Although many companies have been laying off people because of the struggling economic times we have been having, some businesses and people are doing just fine. If you have set aside an emergency fund in case you had to live without your income for three months, then you have been extremely wise.

It doesn’t take a rocket scientist to figure out the importance of creating and maintaining a personal or family budget since this is such an invaluable financial tool. Not creating a personal budget is like that adage about “failing to plan means that you are planning to fail.” And that is basically what you are doing. You have no control over your money, your finances will most likely end up in disarray, and you will never be able to get ahead financially. The bottom line is that you should not be spending more money than what you actually have.

Five Ways to Easily Save Money

There are many ways that you can effectively budget just as there are some ways that you can save money on future purchases or unknown expenses. Additionally, this will relieve the stress that occurs when you are struggling to make ends meet and pay your bills. Here are nine tips you should consider for saving money:

  • 1. Create a budget

By determining fixed and discretionary expenses, families can pinpoint where they have flexibility in their budget. Keeping a diary of expenses will also help families understand how their money is spent each month and can assist them in making necessary changes.

  • 2. Write down goals

When goals are written down they tend to become more real. Once goals are in writing, families are more apt to work towards those written goals. Keeping these goals in a conspicuous area will provide the family with a constant reminder as to the purpose of their sacrifices.

  • 3. Eat at home

one of the easiest ways to save money is to eat at home. Eat breakfast at home, and take a sack lunch to work. Preparing dinner at home will not only save money but provide the opportunity for family time as well.

  • 4. Make a grocery list

Before going to the grocery store, families should have a list of ingredients they need for the week’s meals. This will curb impulse shopping and prevent unnecessary purchases that simply go to waste

  • 5. Build in treats

budgeting should not mean never eating out, getting a coffee, or going to the cinema. Depriving the family of these special treats will make it impossible to stick to a budget. While going to the cinema every weekend or buying a coffee every morning may not be the best money saving ideas, building in opportunities for these occasional treats is crucial.

  • 6. Take advantage of recycling, repairing and getting good use out of your household items.

This is part of the “Going Green” mentality, but it still makes a lot of sense. In addition to this, you should consider using alternative energy sources and purchasing only those consumer goods that are manufactured from either recycled goods or sustainable resources.

  • 7. Cutting food waste will cut spending

What is the point in purchasing more meats or fresh vegetables than you can consume at one sitting? More importantly, how much sense does it make to let leftovers go to waste and then get thrown in the garbage?

  • 8. You can still maintain a normal lifestyle inside or outside of the home by shopping sensibly

You don’t need to spend a fortune to dress and look good, nor do you need to spend a lot of money on food if you just pay attention to discounts and sales as well as not being a name brand junkie.

  • 9. Save a set percentage of every pay check

Some companies will allow you to send part of your paycheck to a savings account. You just tell them how much you want to send from each paycheck and they will transfer it. This automated process makes saving money much easier.

The best way to save money is to start early and here is why: A saving money expert depicts below how skipping just one year can influence negatively on your retirement funds.


This hypothetical case assumes yearly $3,000 office savings hand-outs are made on January 1st each year starting at the specific age and continuing until age 70. Assuming the annual rate of return of is 7 percent. Given that the annual tax is compounding in an office savings plan. Your plan may generate more or less than this case, and income taxes will be paid when you withdraw from your saving account. Saving in this way does not guarantee against failure in declining markets. This hypothetical example is for descriptive purposes only and does not represent the reality of how to save money every month.

Plan to save up money but establish it now

You do not have to think that saving has to be the end of your life just take a few tips to save money. You don’t have to decide between existing monetary obligations and saving for retirement. Save money with even a small portion while you’re paying your bills can do a lot for you. Pay yourself first then you should set up a money order that automatically puts your savings into some other interest account, so you put away before you put out. If you do not have emergency fund, you may wish to licensed money lender in singapore. Visit:

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