Lifestyle

3 tips you must know to save money for bachelorettes

Being single can be both liberating and expensive. With less responsibility, it means that we can sometimes overspend and break our budget. Here are three hacks to help you stretch your dollar and maximise your savings
 

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Being single is super fun — brunches, cocktails, men galore! But let’s face it: There are some things that cost a lot just because there’s no one to split the bill with. Housing, meals, flights and even hotel rooms cost more when you’re flying the singleton flag up high.

Never fear — a few nifty tweaks and tricks can help you save in a few surprising areas. We give you a list of practical things you can do and areas where you can rein in, so that you can splash out on the activities you really enjoy.

 

1. Learn to cook

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Learning how to cook is one of the best ways you can save money, especially when you’re single. Buying raw ingredients is always cheaper, even if you’re choosing the “convenience” options like bags of pre-cut vegetables and snacks, works out to be way cheaper than buying a sandwich in a deli every day. Also, if you cook a bunch of meals at once, with enough to freeze for later, you’ll have good food to eat on a busy night, and won’t have to rely on delivery food take-out, with its high delivery charges.

What you will need to do is plan. Build a repertoire of 10 to 12 recipes that you like, that’ll work for different types of meals. You’ll also need to stock up on food containers (Daiso!) and freezer space. Then, set aside time once or twice a week to cook, pack and freeze. This way, you’ll avoid unnecessary wastage, while saving money on every meal.

 

2. Buy medical insurance

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Staying healthy is not just about adopting good lifestyle habits, it’s also about staying on top of your health status. This means getting regular health screenings to catch any unwanted developments as early as possible, and going for necessary treatments — this can all add up really fast, especially if you turn out to have a serious illness. 

That’s why you should consider getting a medical insurance plan, one that will pay for your check-ups, treatments and consultations. If your family has a history of women’s diseases, then consider spending a little more to get a specialised policy.

With a proper medical plan in place, you don’t have to worry about being stuck with an unexpected hospital bill, which can run into 5 figure sums. Start small — the first thing you should do is upgrade your Medishield plan. Then, consult your primary health care provider for the specific coverage you need. There are many basic plans to choose from, which can be as low as $250 per year, and which can even be paid for on an installment basis.

 

ALSO READ: 10 BEST BUSINESS SET LUNCHES IN SINGAPORE BELOW $30

 

3. Use the right credit card

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Saving money is difficult – that’s why so many of us have a hard time doing so. With these three smart money-saving habits, you will be consistently saving money on meals, reaping rewards whenever you spend, and sparing yourself expensive medical or hospital bills — which all adds up to a whole bunch of money saved, in time. 

As a single woman, you’re solely responsible for every dollar you make, and spend. There are ways to make spending work for you. Credit cards offer a boggling array of rewards, perks and benefits. The trick is finding the best one. Here’s the thing: Credit cards are designed to encourage consumer spending, and they give out rewards according to spending habits and lifestyle.

Hence, the best credit card for you is the one that complements your lifestyle and spending level. Here, slow and steady wins the game.

Make sure that your credit card is giving you consistent savings under normal use. For instance, don’t get a card that gives you points on travel redemptions, if you only really are able to make trips every 18 months or so. Instead, look for something that will give you redemptions on restaurants, or in stores that you frequent. 

Do some maths and be realistic about what you choose to do with your redemption points. For example, opting for a $300 voucher may seem more attractive than going for that $60 monthly cashback. However, over a year, the latter will furnish $720 in savings. 

 

Added tip: Little savings add up

money saving

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Saving money is difficult – that’s why so many of us have a hard time doing so. With these three smart money-saving habits, you will be consistently saving money on meals, reaping rewards whenever you spend, and sparing yourself expensive medical or hospital bills — which all adds up to a whole bunch of money saved, in time. 

 

ALSO READ: MOST VALUE-FOR-MONEY BUFFETS IN SINGAPORE FOR UNDER $50 PER PERSON