Monday, March 2, 2009

Recession Saving Tips

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Posted on Monday, March 2, 2009

Recession Saving TipsBefore I start this post, I want to say that I am very thankful that I still have a job here in Singapore. During this difficult time, we have to be wise to survive. If only part time jobs in Singapore are allowed, I would do it just to earn extra bucks.

Anyway, here are some of the things that I do to save Sing money. I hope I make sense.

1. Only buy the things you need. Think thrice before buying a thing. You will just feel guilty at the end of the day when you realize that it's not worth it. Once in a while though, you can treat yourself with a nice meal and a new shirt.

2. Avoid eating out. What I always do is that I cook my own dinner. This time, I prepare my dinner that is good for two meals. That saves me time and also a lot of money. And my cooking is not bad at all, hehe. My latest masterpiece by the way is "Sinigang sa Miso na Maya Maya." Is that how you call it?

3. Instead of buying canned drinks in the cafeteria, bring your own. The canned drinks in our cafeteria costs $1.30 each. What I do now is that I buy a 6-piece tetra pack juice that only costs $2. Calculate how much savings is that. The down side, my tetra pack juice is not that cold.

4. At the grocery, check the labels. Choose the two cheapest brands and compare its content. Go for good content and not on the brand name.

5. Every pay check, budget your finances and expenses for the month. And always segregate a portion for your savings. It would be wise if you open a separate account just for your savings.

6. Speaking of savings account, look for the best deals in banks. Check for the bank with the highest interest rates and benefits. I was asking Pinay Jade a week or two about the interest rates here in Singapore and she told me about Citibank (this feels like deja vu by the way as if I have written something like this before). I have inquired it about it last week and starting this month, I would start saving on my Citibank account. I was excited by the way coz it comes with a checkbook and it's free lifetime. My first ever checkbook!

Did I make sense? Any more tips to add on this list?

27 Responses to “Recession Saving Tips”

Sheryl said...
March 2, 2009 at 11:58 PM

Hello there, I just wanna let you know that I'm the 8th winner in MommyKo's Spread the Love giveaway,.. I'm here to send you my EC link:

you sponsor 1000EC credits...

Sherry said...
March 3, 2009 at 12:11 PM

I like this post, I love saving and spending :(. I know I need to concerntrade save!!

Sherry said...
March 3, 2009 at 12:11 PM

tweet this !

Sherry said...
March 3, 2009 at 3:01 PM

how about save money by rent DVD instead of going to movies?

Rosa said...
March 3, 2009 at 8:51 PM

WOW! Interesting post.

Rosa said...
March 3, 2009 at 8:55 PM

Thanks for the Tips, tweet this interesting post and plurk to share it to my friend.

Denis said...
March 4, 2009 at 12:15 PM

these are wise tips indeed.

the hard thing is to be consistent and keep following

webbielady said...
March 4, 2009 at 11:18 PM

Money is so difficult to save.. I can see that. I mean, I lived in Makati for only 20,000 a month without problem but here in Europe my 2,000 is all grazed up at the end of the month. No savings at all. This amount seems so little. Darn! I should earn more as this amount is so little here.

Webbielady said...
March 4, 2009 at 11:20 PM

Twittered about this post as webbieladycont here

Webbielady said...
March 4, 2009 at 11:23 PM

Dugg this post as webbieladycont leaving this comment, "I always want to do these stuffs but i always fail.. ;("

Webbielady said...
March 4, 2009 at 11:25 PM

I am even a frugal person but I think prices here are just too mucha and what I earn is so little... sigh... I need more to earn I guess.. and they think I am so young here... Hello! People in my country starts young.. Here, if you are not 25, it's like you don't deserve a decent salary.

Experience (in years, not in quality) is saint here. So bad, am too young for a long experience!

Sherry said...
March 5, 2009 at 1:58 PM

salary here its based on job experience and education level. They look on the papers. It is sad to see that because if you are new you get only $800 MYR

pehpot said...
March 7, 2009 at 4:03 PM

another one is you have to minimize the frequency of your grocery trips.. it can lessen your exposure to buying things you actually does not need..

Make or Break

Sherry said...
March 8, 2009 at 11:56 PM

its recession but everything still same price like rice we need to buy.

Sherry said...
March 8, 2009 at 11:58 PM

one of the restaurant here their chicken buffer starts from $13.90 when opening now its $21.90. Not yet include the tax and service charge! :(

Sherry said...
March 11, 2009 at 3:49 PM

its crazy even though its recession but the gym fees are still expensive!

Rolly said...
March 15, 2009 at 3:50 AM

I wish this will work.

Rolly said...
March 15, 2009 at 3:51 AM

Britain is more affected as the pounds have slide down far below.

Rolly said...
March 15, 2009 at 3:52 AM

Oh this recession is really affecting the whole world.

dugg-ronel05, twitted-baconchezjoro and commented here 3x

WebbieLady said...
March 15, 2009 at 8:41 PM


Wow! Winnings winnings! Congratulations my dear. Now with the recession saving tips, EC can be sold now... Just read the email.

WebbieLady said...
March 15, 2009 at 8:42 PM


That's a funny note. I am more of a saver... but i just can't find the amount to be saved.. ^^

WebbieLady said...
March 15, 2009 at 8:43 PM


Well, I think little recreation expense is not bad... movies are not that expensive anyway... I think Makoy has a lot of savings now... ready to get married na.. ^^

WebbieLady said...
March 15, 2009 at 8:44 PM

Oh gosh Sherry! 800 MYR is nothing.. I mean, you cannot live with that amount in Malaysia! I met some Pinay there earning 1000 and they told me it is really a challenge and I know that because I stayed there for around one month in total.

WebbieLady said...
March 15, 2009 at 8:46 PM

Hmmmm... I have savings in Philippines and I am just glad I cannot withdraw it but all the same, when some relatives need some amounts, that is the account I always move to transfer because that is the only bank I have in Ph.... grrr..

Sherry said...
March 15, 2009 at 11:42 PM

I hope recession will help me lose weight.

Sherry said...
March 15, 2009 at 11:42 PM

My sister just told me that her salary has been cut almost 50%

Sherry said...
March 15, 2009 at 11:43 PM

@Webbielady I agree money is diffucult to save, spending is more easy.

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