The Definitive Guide to Optimising Your Spending

We all love the idea of saving but not many of us are able to do so. Stephen Covey’s book on 7 Habits teaches us the importance of being proactive and that’s a virtue we need to be able to start by optimizing our spending patterns.

Money is an asset that everyone needs and wants. Yes, we all need money to survive but mainly we want it to fulfill our aspirations. However, very few of us manage to make it to the point where we comfortably fulfill our needs and wants. So, how do we bridge this gap between needs and wants? The answer lies in our ability to optimize our spending. Most of us try to curb our expenditure to some extent to make sure we get by the month. But merely saving is not enough. You can make small changes at various levels to ensure you optimize your spending.

The main focus of this article is to understand various ways to optimize your spending and make the most of your income. We will discuss actionable steps to help you seamlessly reduce your spending without really compromising on your lifestyle. Read on to know more.

Spend less than what you earn

No doubt we love to spend what we have. All the more because we live in a society driven by consumerism. But if you plan on optimizing your spending, then you need to begin by spending lesser than what you earn. Makes sense right? The average salary of a Singaporean is S $5,596. You cannot be spending all your monthly income at once for obvious reasons.

The moment you get your salary, your first move should be to jot down all your necessary expenses and then allow a certain portion of your salary for those expenses. The rest should be saved or invested.

Have a savings goal

A good way of approaching the idea of optimized savings is by having a goal. Decide at the beginning of the month the amount you intend to save and plan your monthly expenses accordingly. Going back to the previous example of where an average Singaporean earns S $5,596, let’s say you intend to save a total amount of S $1,000, then the amount left to spend is S $4,596. Structure your expenses accordingly and make sure you don’t end up spending the S $1,000 allocated for your saving.

Use discounted gift cards like cash

When you decide to optimize your spending, you should be an opportunist of the first order. Get gift cards, coupons and vouchers from wherever possible and make the most of them. Gift cards usually claim to be equivalents of cash and you can use them in select places. Websites like Sistic and Giftano offer a wide range of gift cards that you can use instead of cash. Some of them even offer interesting offers that can help you save a lot of money.

Use expense tracker apps

Another of your expenses. Some of these apps also give you the provision to keep track of daily expenses. For example, Wally is one such app where you can keep track of your daily budget.

Make essential purchases carefully

We all have to make essential purchases. This might include groceries, detergent, bathroom essentials, clothes, etc. The list of essentials might differ for everyone based on their lifestyle. Some of us can’t seem to do without our favourite bar of soap or that microwave which is our culinary lifesaver. While we don’t deny you the right of making your essential purchases, we urge you to be careful with where you spend your money. One good way of doing this is by listing down all your essential purchases one by one and then figuring out what can be avoided or replaced with a cheaper alternative. For example, if you plan on purchasing a mattress, maybe consider buying it at a discounted rate online or opt to buy certain big-ticket items from a second-hand store. These are small ways in which you will save money and by the end of the month, it will be these small savings that will make a big difference.

To optimize your expenses, you need to be resolute. You then need to take certain steps to make sure you achieve your goal of optimizing your expenses. In the beginning, the process might seem painful but eventually, your efforts will pay off when you see the additional amount you were able to save in the past couple of months.


Top ML in Singapore – Best Credit SG Pte Ltd

Best Credit SG Pte Ltd will be able to assist you in case you need extra cash for rolling. For personal or business, we have the availability to resolve it. We are the top licensed moneylender in Singapore town. Our credit services have helped many Citizens, PRs and Foreigners in Singapore.

Desire for cash? Let us help you now! You can reach us at +65 6272 5538 or email us your questions at In case, you like to visit us for a face to face consultation, come on down to our office! Our office is located at Blk 372 Bukit Batok Street 31 #01-374 (Level 2) Singapore 650372.

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