Rising Prices in Singapore – What You Can Do About It
After the world got hit by a pandemic, a recession, and a war abroad, Singapore’s cost of living has climbed to new heights. In June, core inflation—the growth rate that excludes housing and private transport—rushed up to 4.4 %, which is the highest jump since the financial crisis in 2008.
Inflation is a big problem and you can’t stop it. But you can stop the money slip‑through your fingers. Below are three easy ways to tighten your wallet without turning your life into a drama.
1. Re‑think Your Grocery List
- Stick to basics – pack only what you’ve already planned to eat. Throwaway items lure you in.
- Shop at the right time – discounts happen on Tuesdays and the last day of the month. Mark your calendar.
- Use apps and loyalty cards—they stack up points and coupons faster than your brain can type.
2. Crack a Budget That Screams “No Gaps Allowed”
- Divide your expenses into a “needs” and “nice‑to‑have” bucket; zap the latter first if you need to adjust.
- Apply the 50‑30‑20 rule – 50 % for essentials, 30 % for wants, and 20 % into that savings pot.
- Track every expense in a cheap spreadsheet or a free app; knowing where the money goes is the first step to saving.
3. Put Your Cash Where It Can Grow – Even While You’re Still Playing Monopoly
- Open a high‑yield savings account or a fixed‑deposit with a bank that offers the best terms.
- Set up automatic transfers so your savings grow without you having to think about it.
- Start small with a mutual fund or ETF—your money will be working for you even if the market gets a bit shaky.
It’s not easy to outsmart inflation, but by making these small edits you can keep your bank balance from feeling like a weather report—downward trends, no clear horizon. Keep it simple, keep it steady, and watch your savings hit the roof!
1. Adjust your lifestyle
Rethinking Retirement: How Your Personal Style Shapes Your Future
Everyone’s path to retirement is a bit like a playlist—some tracks stick to your routine, while others are playlists of fresh beats. Depending on your goals, the age you wish to hand over the keys to your “Forever Vacation” plan, and how you spend your time and money, the changes you make—and how well they work—can vary wildly from one person to another.
Consider downsizing
Cutting Back: The Smart Path to Big Savings
Ever felt that toll of everyday expenses rubbing the wallet dry? The secret? Downsize. It’s a simple cheat‑code that can crank up your savings without turning life upside down.
Step 1: Think Big – and Money‑wise
- When you’re eyeing a new home or car, don’t just hope for the price to drop. Keep your eyes on the trend curves and snag the sweet spot.
- Track every dollar that’s marked as debt, insurance, or credit‑card interest. If you can, pay the balances early – you’ll dodge the high‑interest party people.
Step 2: Tiny Tweaks, Huge Payback
- Shorten that shower ritual – 1‑minute less each day is 365 minutes a year. Talk about a “time‑saving” splash!
- Turn down the AC by a couple degrees. The colder your thermostat stays, the lower the bill, and your savings stack up faster than a snowball.
Step 3: Align Your Life With Your Future Dreams
- If your ambition is to grow wealth and maybe retire early, the key is to match your spending habits with those long‑term goals.
- Give yourself a “save‑or‑spend” budget that is aligned with what you’ll need after decades of work.
Bottom line: a few mindful adjustments to your daily living can ripple into a massive boost for your finances. Start today and watch the numbers grow.
Take up side-hustles
Save More Without Skipping the Good Stuff
Think you’re stuck with a flat budget? Flip the script—earn a few extra dollars on the side instead of tightening your belt.
Popular Side‑Gigs That Pay Off
- Tutoring – Pass on what you know and bag cash in every session.
- Ride‑Sharing – Equip that car, hit the road, and pocket mileage.
- Fiverr Services – Pick a niche like design, copy, or admin, and let the orders roll in.
How Much Extra Can You Expect?
With consistent effort, a month‑long hustle can net you around S$500—enough to give your savings a nice boost.
The “Work‑Hard, Play‑Hard” Playbook
Keep living your current lifestyle but sprinkle in a side gig. No compromises on the fun, just a little more dough in your pocket for the future.
Embrace the 50/30/20 rule
The 50/30/20 Rule: Your Quick‑Fix Money Map
Ever wish you could split your paycheck at the snap of a finger? The 50/30/20 rule does just that—painting a clear picture of where every dollar should go.
How the Numbers Line Up
- 50% – Essentials: The half of your income that covers the must‑have stuff—rent or mortgage, car payments, groceries, insurance, and, yes, the dreaded doctor’s bill.
- 30% – Fun & Flex: The slice meant for a little indulgence. Food out, occasional splurges on concert tickets, a weekend getaway, or that extra coffee at the office. Think of it as the “feel‑good” portion.
- 20% – Savings & Goals: The dollar that’s meant to grow quietly. This isn’t for your daily coffee—unless it’s an emergency caffeine crisis. Use it for building an emergency fund, investing, or that dream home.
Bonus Twist: A Tiny Slice for Long‑Term Dreams
Some folks carve out a 10% bump from the fun bucket to funnel into long‑term investments. It’s a sweet compromise—keep the happiness alive while nudging your future self.
Why It Works (No PhD Required)
Whether you’re a rookie spender or a seasoned saver, the 50/30/20 rule is simple, no‑frills, and surprisingly effective:
- Instant insight into where your money is headed.
- Clear milestones that keep you on track toward financial goals.
- Automated savings habit that turns “I’ll put it away later” into “I’m already saving.”
Roll this rule into your routine, and watch your budget become a well‑balanced pizza—half cheese, a slice of toppings, and a crispy crust. Happy planning!
2. Use promotions
Ready to Grab the Best Deals? Let’s Zero In on Two Delightful Offers That’ll Keep Your Wallet Happy!
From swanky insurance promos to wallet‑friendly credit cards, the coupon craze is everywhere. And, if you’re feeling festive, there’s a sweet deal on mooncakes for the Mid‑Autumn Festival.
1. Credit Card Wonders – Your Money’s New Best Friend
Picture this: you swipe your card, and a rewards point or cashback bonus pops up. Why is that awesome? Because it’s a little extra money in your pocket every time you buy a latte, a grocery item, or even that quirky gadget you can’t resist.
2. Online Shopping Bargains – Click, Add, Save
Shifting the “Add to Cart” button becomes a genuine money‑saving ritual. From bundle discounts to flash “Deal of the Day” offers, the internet’s a treasure chest that shrinks your Prices tags faster than a magician pulls a rabbit out of a hat.
Checklist for the Savvy Shopper
- Check Cashback Rates: Some cards offer up to 5% off on certain categories.
- Watch for Time‑Sensitive Deals: Scannable coupons that vanish after 24 hours are the real thrillers.
- Store Loyalty Meets Online Rewards: Combine your store discounts with e‑store coupons.
Bottom line: Grab one of these two popular, everyday deals and watch your savings stack up. Remember, the more you slam “Buy,” the more you save!
Early bird promotions
Early‑Bird Deals: A Smart (and Funny) Way to Save
Think of an early‑bird promotion like that friend who rushes to the coffee shop to snag the last croissant before the line swells. It’s all about getting ahead of the game. You want to attend a concert, jet off to a distant country, or nab a seasonal gadget? Grab that deal before it flies away!
Why Grab It First?
- Less Pay, More Pleasure: The earlier you buy, the bigger the discount.
- Beat the Rush: Avoid last‑minute price hikes and crowds.
- Secure Your Spot: Early tickets and reservations guarantee you a seat.
Real‑World Examples
Picture this: You spot an early‑bird offer for a summer music festival. You book months ahead, snag the cheapest ticket, and later, the same festival’s prices shoot up like a rocket—while you’re still lounging in your pajamas with a bowl of popcorn.
Keep Your Wallet Happy
In short, early decisions translate into big savings. So, if you have a plan—mind it or not—make sure you seize the deal before the deadline. After all, it’s better to brag about your early‑bird shopping prowess than to be the last one left scrambling for pecking‑order tickets.
Sale seasons
Hold Your Horses, Your Wallet Will Thank You
Ever find yourself scrolling through a brand new gadget or a snazzy pair of shoes and thinking, “Is this a good time to buy?” The simple answer—unless you just need it now—is wait for a sale. Those crazily discounted flash drives and neon sneakers equal a few extra bucks in your pocket.
What’s on the Sales Calendar?
- Great Singapore Sale – Each year, Singapore’s retailosphere turns into a bargain haven. Think of it as the annual gift to your senses and a gift to your savings.
- Shopee’s 11.11 – That November 11th date isn’t just a day of 11 felines; it’s a day when prices dissolve faster than molasses at a sticky bun in a pan.
- Black Friday – Classic American hustle, but the same premise: “Every price tag is a gateway to your next-thank-you selfie.”
- Cyber Monday – The online version of Black Friday, perfect for those who prefer to shop from the comfort of their couch.
Quick‑Hit Pop‑Ups and Other Spoiler Alerts
Sometimes the best bargains hit you like a pop‑up window—one moment you’re browsing, the next you’re staring at a “1‑hour sale” email. Speed‑read those alerts: a good deal is only a click away.
Keep Your Eye on the Prize (With a Little Help)
If you’re worried about missing the next opportunity, ValueChampion is your new best friend. They gather all the promotions in one place, so you can nibble on the goodies without hunting high and low.
Bottom line? Give your brain a break, let the sales do the heavy lifting, and watch those unexpected coupons work their magic. Happy saving, and may your future self hug your budget for the love of it!
3. Shop savvy
Learn to Shop Smart Even When Prices Keep Rising
Inflation’s been on the rise, but that doesn’t mean you have to ditch the thrill of buying new stuff. What you really need is a clever plan that lets you keep enjoying life while staying on top of your finances.
Step 1: Be Mindful About How You Shop
- Shop for deals – check out discount days, bundle offers, or cashback promotions.
- Use comparison sites – a quick click can save you a few bucks (think of it as a mini treasure hunt).
- Keep a shopping list before you head out; impulse buys are the biggest casualty of inflation.
Step 2: Decide What You Truly Need
When the price tag starts to look like a horror movie plot, pause and ask yourself:
- Is this item essential or just a “nice‑to‑have”?
- Could a generic brand or a later sale do the same job?
- Is there a second‑hand or refurbished option that fits your budget?
Step 3: Manage How Much You Spend
Keep your budget lean but flexible.
- Set a clear monthly cap for non‑essentials.
- Use a tracking app (or a simple notebook) to see exactly where your money goes.
- Celebrate a small win every time you stay under your limit—like a mini confetti shower in your mind.
Why This Works
By turning shopping into a smart, intentional act, you’ll feel that sense of freedom you crave without the financial guilt. Even if prices are climbing, you’ll hold the reins of your finances, celebrating the small victories with a grin, not a sigh.
Takeaway: Inflation is a challenge, not a lifeline. Shop wisely, spend wisely, and keep enjoying the little delights that make life worth living.
Buy now, pay later
Buy‑Now, Pay‑Later: The New Trend Taking Singapore Shopping by Storm
Why Everyone’s Talking About BNPL
Picture this: you just spotted that gadget you’ve been eyeing, you’re ready to add it to your cart, and—boom!—the “Buy‑Now, Pay‑Later” button pops up. With apps like Atome, you can split that purchase into a handful of payments with absolutely no interest or hidden fees. That’s why over 1.1 million Singaporeans have already jumped on the wagon.
The Sweet Spot of Convenience
- No monthly charges – you’ll only pay what you owe.
- Easy repayment plan – schedule a few months’ worth of payments at a time.
- Instant checkout – avoid the hassle of waiting for your bank to approve a loan.
Be Smart, Not Just Flexible
While BNPL apps make it feel as if you’re casually throwing money around, remember that every “free” plan has a due date. If you’re tempted to add that extra pair of shoes or a fancy coffee mug, pull back and ask yourself: can I pay the full amount back on time?
Think of BNPL as a helpful buddy who says, “Let’s spread this out, no stress!” – but your buddy also reminds you to keep your shoes on a tight budget. So use it with intention, keep track of your deadlines, and you’ll enjoy shopping without the guilt.
Cashback and shopping credit cards
UOB KrisFlyer Card
Why the UOB KrisFlyer Card Might Be Your Next Shopping Buddy
Think of the UOB KrisFlyer Card as your personal loyalty sidekick that swipes money onto miles and does a bit of magic when you’re spending on big-ticket items.
Pros: The Sweet Stuff
- Triple Miles on SIA, SilkAir, Scoot & KrisShop – Earn 3 miles for every dollar spent on these airlines and the in‑house KrisShop. Perfect for getting closer to that dream flight or a fancy fashion spree.
- Up to 3 miles on dining, transport, online shopping & travel – So whether you’re ordering pizza, catching a cab, or booking a stay, the miles come knocking.
- Fast‑Track to KF Elite Silver – With those miles, you’ll land elite status quicker than you can say “upgrade.” Plus, premium privileges with Scoot.
- 10,000 Annual Bonus Miles – On renewal, you automatically get an extra 10k miles. Enough to plaster fancy breakfast in your travel diary.
Cons: Some Minor Setbacks
- Only 1.2 Miles on Non‑Category Overseas Spend – If you’re buying something that doesn’t fit the main categories, that’s a slower miles‑gathering pace.
- No Lounge Access – No sweet seats in the airport lounge; not ideal if you love a quiet cup of coffee before a flight.
- No Spend‑Based Fee Waiver – There’s no tail‑whipping bonus if you hit a high spend threshold. You’ll just have to pay the standard annual fee after the first year.
The Big Spend Tactic
If you’re planning a big shopping spree, here’s a simple, click‑happy trick:
- Go online to the SIA brand shop, pick your favorite outfits or gadgets.
- Spend at least $500 in the year – The card will automatically award you 3 miles per dollar, making each purchase feel like a mini reward.
- Enjoy free annual fees for the first year – That means you’re guilt‑free about recurring costs while you’m building your miles stash.
With a few clicks, you can turn your big purchases into a roller‑coaster of rewards. No worrying about fees and a generous miles yield – the UOB KrisFlyer Card turns your wallet into a frequent‑flyer machine.
Bottom line: If you love frequent‑flyer perks and don’t mind the lack of lounge access, the UOB KrisFlyer Card is a sweet deal – especially when you’re big‑spending online. Just use it smartly, and you’ll keep flying higher with those miles!
Citi Rewards Card
Should You Grab This Card?
Pros
- + Dual‑world win: Works river‑wide – online, in‑store, or on the road.
- + Smart travel perks: Frequent flyer? This one turns your miles into points.
Cons
- – One‑time shopper? Not so big a deal: You’ll earn less when you shop infrequently.
- – Foreign spend fee: Your pocket feels the sting if you juggle currency exchange.
So, if most of your spending is a mix of shopping‑shopping or fashion bursts, you’ll actually enjoy this card.
The Rewards in Plain English
You rack up 10 points (equal to 4 miles) for every dollar you spend on:
- Online retail – the e‑commerce craze
- Offline stores – the brick‑and‑mortar vibes
- Ride apps (Grab, Gojek, etc.) – because why drive?
- Online food delivery – thank you, late‑night cravings!
- Groceries – because you need to feed the family too.
Every dollar pulls you closer to those sweet rewards; the road is wide open.
Cap & Spend Insight
Heads up: the “four miles per dollar” rate tops out at 3,600 miles per month – which translates to 9,000 points. That’s practically hit when you hit around $1,000 of monthly spend. So if your shopping spree lingers around that budget, this card becomes an ace.
Bottom line: For the fashion‑obsessed, café‑addicts, and frequent‑flyer spirit, this card checks all the boxes. Just remember to keep an eye on those foreign fees and your “once‑in‑a‑while” spending habits.
DBS Woman’s World Master
Meet the “No‑Interest, High‑Reward” Card – It May Just Be Your New Sidekick
Looking to splurge on that shiny gadget or style upgrade without drowning in interest? This card could be the magic wand you need.
Why You’ll Love It
- No‑Interest Splits: Grab a $100+ item and spread it over up to 12 months – absolutely zero interest, zero fees.
- Online Shopping Miles: Earn a whopping 4 miles per dollar when you shop online – your wallet will thank you.
- Local Spend Bonus: It keeps going strong with 0.4 miles per dollar on everyday local purchases.
- Purchase Protection: Your online buys are shielded – no surprises if something goes weird.
What’s “Not a Mega Glitch”
- No travel perks: If jet‑setting is top of your list, this card won’t fill that gap.
- Limited rewards categories: You’ll find a tighter selection of reward options compared to some rivals.
Picture This Scenario – It’s a Win-Win!
Say you’re eyeing a top‑tier laptop or that designer watch. You can pay over time via DBS’ “My Preferred Payment Plan” – just pick a $100+ purchase and split it over a year. No hidden fees or interest will mess with your budget. Meanwhile, your spending earns you miles that can be swapped for flights or hotel nights.
Bottom Line
If big buys are your game and you love the idea of “paying later without the dreaded interest,” this card is a solid choice. Pair those miles with your online hustle and watch the rewards stack up!
Where to keep your savings
How Much is Your Money Really Worth Anyway?
If you’ve been stashing cash in a regular savings account and seeing those digital numbers stay stuck at the same place, you’re basically letting inflation do a boot‑leg on your savings. And when inflation is having a good time—as it does when it’s shooting up at 4.4 % a year—your dollar can feel a little old‑fashioned.
Think of it Like This:
- Picture you hand over $1,000 to a bank today. It’s sitting in your account with zero interest.
- Fast‑forward a year; the grocery bill has gone up by 4.4 % and so has everything else.
- That same $1,000 that could buy you a new iPhone right now now faces a $44 tag‑increase (i.e., it’d be $1,044 next year).
- So, while your balance stays unchanged, the buying power of that money has dropped.
Make Your Money Work For You
Instead of letting your funds sit idle, aim to put them in a place that offers a decent interest rate. Ideally, you’d want the return to match or beat the inflation rate. That way, you’ll keep your money’s purchasing power—or even grow it.
Bottom line: A dollar that doesn’t earn a little interest in the face of inflation is essentially losing value. Keep learning where to park your cash so it grows, not just stays.
Investments
Keep Your Cash from the Inflation Bully
Inflation is a sneaky thief that slowly pulls the value out of your savings the longer they sit there. The trick? Put your money in solid, steady‑rate investments that ride the wave rather than get washed away.
Stock‑Market Playbooks
- ETFs like the S&P 500 – Think of them as a diversified pizza slices: each bite covers a different taste, so you’re not stuck with a single flop.
- Straits Time Index – A good pick if you want a bit of the Malaysian financial scene mixed into your basket.
Real‑Estate, No‑Hassle Style
- Real Estate Investment Trusts (REITs) – In most countries you can skip the hard work of buying, renovating, and renting a property. REITs let you own a slice of the rental pie while the rest of the team does the heavy lifting.
Remember: Nothing’s 100% Risk‑Free
Even the most trustworthy spots carry a pinch of uncertainty. Grab a good coffee, dig into the docs, and make sure you’re comfortable with where your money’s heading before you sign on the dotted line.
High interest savings accounts
High‑Interest Savings: Your Calm Corner in a Chaotic Economy
Feeling a little jittery about where to park your cash? Don’t worry—we’ve been there! Locking your money in a high‑interest savings account can turn that nervous energy into a steady, comforting hum. With rates reaching up to 3%, your dough keeps up with the price tag rises without the headache of complicated investment strategies.
What You Need to Know Before You Dive In
- Interest Rate Pick‑Me‑Up: Rates aren’t uniform—some banks give you the big 3%, other places offer a modest 1.5%.
- Minimum Deposit Check: Make sure you’ve got enough to meet the balance requirement; otherwise, the interest might vanish into thin air.
- Max Earnings Limits: Some banks cap the earned interest—know the ceiling so you don’t set unrealistic hopes.
- Fees & Withdrawals: Keep an eye on any hidden charges or limits on how often you can pull cash out.
Why It’s a Smart Move in Inflation’s Age
Inflation can feel like a relentless drumbeat, draining the real purchasing power of your money. A high‑interest savings account drinks the inflation wave whole, keeping your wealth real and handy for those unavoidable buying moments—whether it’s a new phone, a cozy blanket, or a quiet vacation.
So before you make any commitments, take a quick tour of the banking landscape, run numbers, and choose the account that matches your financial style. With a few simple steps, you’ll let your cash breathe, grow, and stay razor‑sharp against the inflation tide—all without the nerves of investing.
Conclusion
Inflation, Yo‑Yo, and Your Wallet
Inflation is like that sneaky roommate who eats your food and keeps the rent. For Singaporeans who want to keep a little extra in their pocket, it can feel like a rainstorm on a sunny day. But fear not! With a few tweaks, discounts, and the right shopping hacks, you can ride out the storm without getting soaked.
1⃣ Small Lifestyle Tweaks – Big Impact
- Mindful Grocery Runs – Skip the impulse buys at the “just one more” aisle.
- Smart Dining – Enjoy local hawker stalls instead of six‑star restaurants.
- Use Promo‑Time Loot: Grab lunch specials or “Buy 1 Get 1 Free” superheroes.
2⃣ Play the Promotion Game
Think of promotions as secret treasure maps. The first step is to stash coupons, track flash sales, and keep an eye on loyalty programmes. A little extra savings from a promotional discount turns out to be a fairy‑dust boost for your budget.
3⃣ Boost Your Buying Power with BNPL & Rewards Cards
- BNPL (Buy Now, Pay Later) – It lets you spread out payments without a huge upfront cost.
- Rewards Credit Cards – Earn cashback, points, or even travel miles for every like‑the‑price‑point spent.
- Tip: Pair both for a “double‑dipping” effect.
4⃣ Where to Keep Your Savings alive
If you stash your hard‑earned cash in a low‑interest account, inflation will almost certainly eat it piece by piece. Here’s the bang‑for‑buck champions:
- High‑Yield Savings Accounts – Boot up your interest earnings.
- Low‑Risk Investments – Pick mutual funds or bonds for decent returns.
- Automate Deposits – Treat your savings like a recurring subscription to your future.
Just remember: Your money is the only thing that can double up when you make it work for you.
TL;DR
- Small lifestyle changes + smart promotions.
- Use BNPL and rewards cards to stretch budgets.
- Store savings in high‑interest accounts or investments.
All tips come straight from ValueChampion‘s wise word‑smithing. Let inflation be the humble co‑star, not the leading actor in your financial saga!
