Tuesday, January 29, 2008

Tips to Beat Inflation

Consumer prices are at a 25 year high and we see no end in sight, with the crude oils prices playing a huge part to drive the consumer prices up. The name of the game now is save, save and save. As such, little bit of tightening our belts counts these days. Below are some tips that can be used everyday to beat the inflation:

By Hurray for Saturday

A) Transport & Communication
* Take trains and buses and avoid taxis.
* For drivers, they can save petrol on long run if they drive Hybrid cars. Taking trains or buses (abt S$2-3) are generally cheaper than taxis (S$10-20).
* Walk rather than take feeder buses (65 cents) for short distances.
* Buy Handphone that suits your needs.

B) Food
* Buy house brands at the supermarket which are cheaper. Some supermarket also gives discount on house brand for necessities.
* Bring own containers when packing food. These days, container for packing food cost an additional 20 cents.
* Eat less often fancy restaurant. Beside the higher cost of the food, we also can save on the Service Charge.

C) Health Care
* Ask doctor for generic drug such as paracetamol rather than branded name such as Panadol.
* You can go to free clinics such as Singapore Buddhist Free Clinic.

D) Recreation
* Go on holidays to nearby countries in the region, which cost about S$1,000 a person compared to US or Europe which would cost at least S$2,000 a person.
* Choosing countries such as Malaysia, Indonesia and China is more favourable for the exchange rate.
* Choose free recreational spots such as ECP and WCP rather than Sentosa than charges S$3 per person for entrance fee.

E) Clothing & Footwear
* If you are one for branded items, you can get bargains at Salvation Army or any factory outlets such as those in Peninsula Plaze and Holland Village.
* Men can also stock up staples such as shirts and socks at warehouse sales by major department stores.

F) Education & Stationary
* Buy refills for pens. A refill for a Pilot Pen costs about S$1 compared to over S$2 for a new pen.
* You could also buy secondhand textbooks from seniors in school which allows savings up to S$20 per book. Edition may not be same, but content is very similar.

Hope following Singaporeans will find this tips useful. Perhaps this apply to overseas readers too.

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