How to save money?

1. Prepare lunch at home

Early this year, I started cooking my lunches and pack them to school. They usually consist of chicken and rice or a sandwich. I found I saved pretty much as my school's canteen food is not subsidized and can cost anything from $4 onwards. So by purchasing chicken from the supermarket, rice and eggs, my lunch amount can be reduced to an amount of around 1.50-2.00 per meal.

2. Selling things on Carousell and use the money as supplement to expenditure

 

 I did doubt before I started using Carousell on whether or not people would actually be willing to purchase my used or old items. However, after I put my first two items, a toy and a comic book which got snag up within a few days, I was intrigued that there was a community who was interested in getting items at a lower prices event though they are used or old.

After I have managed to sell items off Carousell, I would use that money (not a huge amount) to either help supplement my daily expenses or to get something I need.

3. Compare item prices before making purchases

I have experienced this so many times where I bought something and after which I found something cheaper from another place. Online purchases right now has made things so competitive and there will always be a cheaper alternative. But it matters when time plays a part. Online purchases can take up to few weeks and when what you want to purchase is in a rush then definitely getting the item fast would be your priority.

4. Getting hand-me-downs from family members

The hardest part of this is the asking part but since most of my cousins are into online shopping and frequently need space in their closet. I would ask them if they have any clothes that they can pass down to me. Of course, the clothes need to be of good condition and presentable.

It is always good to reduce our expenditure (of course not to an extreme) but to lower it so we can use the spare cash to generate more income which in future can be used to cover our expenditure. Hence, a lower expenditure would allow us to cover our expenditure at a lower cost of investment. A cycle that can bring us forward in the journey towards financial freedom! Cheers!