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There's no better time than now to make the most of your hard-earned cash! Check out our first instalment of tips to help you stretch your dollar.
With the economic downturn affecting businesses big and small, many of us are feeling the pinch. However, getting a good buy doesn't mean paying the cheapest price for something. It's all about getting the most value for your dollar. We've put together our first set of tips to help you budget and save, yet still have enough left over to give yourself a little treat from time to time
1. Reading (your papers) is good for you - and your pocket
Check out newspaper ads to see which stores are having sales. Thursdays to Saturdays are particularly good if you're planning to shop for kitchen staples such as rice, sugar, etc. However, note that advertised prices may not always be the cheapest, nor are you likely to save more, if the store is some distance away. Unless you're planning to stock up on offer-price items, whose savings would help offset add-on costs like transport, you may find yourself saving more money at your neighbourhood minimart.
2. Smile and take that Coupon
Its coupon savings galore nowadays - you can find promoters giving them away outside shopping malls, in your mailbox, in your favourite newspaper or magazine. You can also find them online, for example at http://www.epopular.com.sg/educom/promos. Even if you don't intend to use them, it is always handy to have a few around in case your kids have a sudden craving for soya bean milk at the mall (two for price of one?) or you need to buy some shoes (20% off two pairs, anyone?).
3. Membership has its privileges
Some store memberships (e.g. Popular Bookstore, GNC etc.) will entitle you to storewide discounts all year, which can amount to decent savings if you patronize them regularly. However, some discounts only kick in if your purchase is above a certain minimum amount, so be sure to plan carefully or you will end spending on things you don't need just to get the discount.
4. Pay the value-added way
Occasionally, stores may tie up with payment gateways such as credit card companies, Nets etc. to make it enticing for you to pay via a certain channel e.g. pay through XY card and you'll get a $10 voucher. Take advantage of such promotions but if using your credit card, ensure that you pay in full each month so as not to be saddled with high interest charges. Some stores will also give a small discount if you pay in cash e.g. the Phoon Huat chain of bakery supply stores.
5. Buy more, pay less
If going "bulky" saves money, then why not don't worry, we're talking about your groceries here. For items that you use regularly and replenish often, take advantage of "3 for price of 2", or buy the maximum quantity you are allowed to (for specially priced "limited stock" items). Many items are cheaper if you buy them in larger packaging, e.g. a 3l bottle of detergent vs a 500ml sachet (and you would help save the environment at the same time  ) When buying food items though, be sure to check and keep track of expiry dates.
6. Check out house brands
House brands and no-frills brands can really stretch your dollar, especially for staple items. Though some think that house brands lack quality, this is hardly the case now - standards have gone up as customers nowadays are more discerning and demanding. For those still critical of most house brand items, don't write off savings you can get for very basic items such as sugar or vermicelli. You might not even notice any difference in quality once you've turned that packet of rice noodles into char kway teow or stirred your sugar into your morning cup of coffee.
7. Make a list, with a little "give"
The surest way of overspending is to go shopping with a full wallet and a shopping list "in your head" Make a list, decide on a budget, and stick to them as best as you can. Buy what you need, not what you want. If you're the type who will spend more the longer your hang out at a store, plan your schedule so you have to leave at a certain time (e.g. to catch a free shuttle or go for another appointment). However, give yourself a little flexibility in your budget so you can take advantage of that "red-hot deal" should you see it.
8. Go for value-for-money
This is probably the most challenging tip to apply, and experience is the best teacher. You may need to use a full cup of that cheap household cleaner for a thorough cleaning, while the more expensive brand only needs a few drops to do the same job well. If you don't need that "free gift", then forget about getting that "value-pack" too. 2-in-1 products can mean savings, but make sure they suit your needs - you may have to try several shampoo-cum-conditioner brands before finding one that's right for your hair, or you may prefer to switch to separate products.
Have some of your own tips to share? Drop a line to
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Look out for more money-saving tips and eCoupons each week at http://www.epopular.com.sg/educom/promos
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