Singapore was recently branded the most expensive city in the world to live in. It’s a place where only those who chant “Save! Save! Save!” survive over the ones who shout “Spend! Spend! Spend!” As a result of this saving syndrome, most Singaporeans are interlocked in a never-ending battle between frugality and opulence, and more often than not, work leaves no room for play.
Contrary to popular perception, a rewarding social life makes a massive impact on the overall well-being of the individual. Acquiescing to a regressive dull existence is not going to make you more productive, because the key to success in today’s times lies in working smart instead of working hard. Although dining, shopping and other avenues of entertainment come at prices that will make you frown, it doesn’t mean that you have to go broke engaging in them. Devising a smart budgeting plan to service your fun time needs can go a long way in letting money buy true happiness for you and prioritize your friends and family as much as you champion your work.
Here are a few cool financial tips that can help you formulate a dedicated plan to meet your social life expenditure and allow you to spend on your loved ones without losing sleep over it:
Budget First & Swipe Your Card Second
Budgeting is one of the most essential tools in the arsenal of a financially responsible individual. However, you can make this monotonous exercise a lot more inspiring by laying out a special plan for your monthly entertainment in your regular budget.
All you have to do is subtract the costs you incur in prime expenditure such as rent, groceries, fuel, etc. from your monthly income. Now you can divide the remaining amount into two halves. The first half can simply be deposited to your savings account as part of a contingency fund; whereas, the other half can be allocated as your entertainment budget for the month. Keep in mind that the bigger your family, your savings should supersede your fun budget accordingly.
Entertainment credit cards are the most powerful financial tools you can utilize to minimize the damage to your savings account inflicted from your social cravings. The Citi Clear Platinum Card and the Maybank Family and Friends Platinum Card are two fantastic options you can opt for to capitalize on a host of cool entertainment offerings for bargain prices.
Get More Bang For Your Buck
Dining, wining, clubbing and going to the movies are the most popular choices for catching up with friends and family for Singaporeans. However, indulging in these activities can rack up a massive bill each time you go out, which can be rather discouraging for average working class Singaporeans.
Luckily, online portals such as EatDrinkDeals.com and Restaurant.com have proved to be a godsend for Singaporeans thanks to the plethora of attractive discounts they offer at popular eateries scattered all across the city. You can purchase discounted gift cards and avail exclusive rebates at over 18,000 restaurants via Restaurant.com. Imagine the joy of a Singaporean socialite who can now purchase $30 gift cards for a mere $10. This means that a memorable night of fine-dining can come at nearly the same price of a wholesome home-cooked meal.
Restaurant and club loyalists active on social media can even enroll in the rewards program and mailing lists associated with their favorite establishments to gain access to even juicier exclusive discounts.
Groupon is another mammoth deal-aggregating portal that will narrow down the finest discounts and offers available near you across a variety of categories such as spa services, dining, shopping, theme parks, etc.
Party On Potluck Style!
Hitting the hottest nightspots across the city every weekend doesn’t necessarily give you the best service for your money’s worth or make you the talk of the town. Frugal Singaporeans who wish to have a great party can throw one themselves in their homes, especially potluck parties.
The principle of a potluck party is simple – each guest and host brings their own favorite family-sized dish to the party. Therefore, what you have on your hands is a full-blown feast without blowing your wallets to smithereens in the process.
What’s even better is that you have the freedom to customize the party with your own themes or pre-decide the food and cocktails menu to tailor the party as per your preferences.
Don’t Forget the Freebies
If you happen to be buzzing actively on the social circuit and keep yourself updated with the hottest events coming up in Singapore, you would have noticed a growing trend in the number of free events in the city.
Whether it’s free food tasting session, wine tasting, a live music gig, or a store inauguration party, there’s something fun and rewarding for people with all kinds of tastes. Not only will you be treated to new events by retailers competing for your attention, your wallet will never feel the pinch.
For more financial tips and tricks to optimize your financial lifestyle, visit imoney.sg and learn all the best moves to make with your money.
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