5 Financial Saving Tips for the Millennials in Singapore

The millennials are born in the age of technology revolution and this has caused a rapid evolution in the way millennials do things. The evolution of millennials also has to do with the fact that the society has evolved as a whole. Millennials are changing the way things used to work in the past and are introducing a new way of doing things. They are also known as Generation Y, they are born between the 1980s and 2000s. Below are some ways they can use to save up more money:

Cook Your Own Meals

Quite simply, if you shop in the middle aisles of the grocery store (the processed food aisles), you may be paying twice as much for your calories as you would if you bought fresh food and prepared it yourself. This pre-packaged, toxic junk ain’t cheap! Some frozen “chicken nuggets” packed with a message will cost you four times more for calories as a fresh whole chicken would. If you know how to butcher that chicken yourself, you save even more – it’s really quite easy and smart to do.

Food independence starts with being able to cook. So, you need to master cooking techniques like basic knife skills, butchery, blanching, braising, sauteing, roasting, frying, and many more. Once you’ve picked up these practical skills, you begin producing your own frugal recipes without the aid of a cookbook (just your own imagination), and this is when you start to save serious money! That’s the name of the game, right? Saving money!

Sign Up for Free Memberships

Did you know that you can actually be paid for free membership sign-ups? There are a number of ways for you to earn commissions online without having to sell a single item, all with the power of referrals. There are many websites that offer commissions for each referral that completes a task for you on these sites, or even if they simply sign up. Some people often get their friends to sign up, and their friends get other friends to sign up to make it easy for people to earn.

The nice thing about being paid for free membership, and if you get people to sign up on those sites using blogs and your own website that leads them to these referral pages is that you actually do more than one of them can make money from. With all the different referral pages you can get for this business, you can earn huge amounts of money each month. You only need to find the sites that pay big and do not need a person to pay a membership fee to sign up and receive commissions.

For instance, if you like to gym, instead of signing exorbitant gym package, look up for my active SG as they often offer free credits for you!

Second-Hand Shopping

There are many second-hand stores that help you to overcome the problem of costs to a large extent. It is a good idea to look for used equipment if you are unwilling to pay high costs. You may have to wait for a particular product that you have in mind, but the possibility for the same is much less. To get things to you in the most convenient way, you can take help from the internet. There are many online shops to help you buy the used equipment you want to buy or even sell. The second-hand stores that are available online will help you get all the information you might like before you buy it.

The reason why there was a preference over the others is that it helps to cover a large number of audiences and to buy less effort for people as well as selling the products. So, even if you buy used equipment you will be able to afford many benefits such as cost, which is the main concern and the second most important thing that you buy will still be new to you and as soon as you think you make a change you can sell them for another product.

Keep a Piggy Bank

Has it ever felt like every single day that it’s over is getting harder and harder to save? They want to put more money away, but it seems that the value of the dollar is going down and the cost of living is going up. The childhood piggy bank concept can also be used until adulthood, but on a more sophisticated level. This can help you save exactly as you did when you were a child. You can do this with the dollar cost averaging, which helps you balance the ups and downs of your stock market holdings.

They do this by buying a certain amount of stock at regular times. For example, you could spend $200 a month on shares in a mutual fund. Some months that $200 can bring you more than others, but you simply invest the same amount on a regular basis and it adds up. This is similar to the way you put nickel and groschen in your piggy bank as a child. Another way that you can use the same piggy bank concept is with automatic withdrawals and deposits made by your bank. Every week or fortnightly you can withdraw a certain amount of money from your check and automatically put it in a savings account with a licensed money lender. You can choose a small amount that you’ll hardly miss anyway, and in time you’ll be amazed at how fast it can grow.

In times of emergency, you will feel the pinch of not starting emergency funds early. People often do not set this as their priorities and take things for granted. Know how to save bits every month, these little funding will come in handy. Alternatively, look for licensed money lenders that are officially authorised by Ministry of Law (MLAW) for personal loans for quick cash to solve your emergency. Of course, why would you wanna borrow money if you have cash in hand?

Walk

One of the best ways to save money when it comes to your vehicle is trying to use your car as least as possible by utilising public transport, riding your bike or walking to your destination when you are able will extend the life of your car and extend how long a tank of gas lasts you.

Besides the obvious fact that everything is comfortable on foot, there is also something very green. Right! We went there. It is not said that Mother Earth is very important to us. So why not help the girl? We do not deny that cars are among the finest luxury products ever created, but why should we use them more than we actually need? When you look at the prospects for your new home, make sure you walk to be able to walk and park the cars!

In addition, walking also means keeping the green in your pocket instead of giving it to your overpriced local gas station. Bringing the factor “walking to” walking to your new home can help you save those bucks in the long run, or at least give you more money to spend only at the place you walk. Why not upgrade and buy two bottles of the infamous 2 Buck Chuck and invite a neighbor? Talking about wine can often be a great way to meet people.