In today's fast-paced digital world, managing your budget and saving money can be a challenge. However, with the right strategies and a little discipline, you can take control of your finances and make your money go further. There are various budget hacks and money-saving tips that can help you save more while enjoying life without breaking the bank. Here are some practical and effective ways to manage your expenses and maximize your savings in Singapore.

1. Stash Your Savings in a Separate Bank Account:

Setting a spending limit is one thing, but sticking to it can be difficult, especially with digital transactions becoming increasingly common. To overcome this challenge, consider depositing your savings into a separate bank account from the one you use for daily expenses. By keeping your savings separate, you can easily track your spending and avoid exceeding your budget.

2. Introducing the 24-Hour Rule:

Impulse purchases can quickly derail your budget. Whenever you feel the urge to splurge, give yourself 24 hours to think it over. Often, the initial excitement fades, and you realize that you don't really need the item. This simple rule can help you avoid regrettable purchases and save a significant amount of money over time.

3. Keep Track of Your Expenses:

Keeping tabs on your expenses is crucial for effective budgeting. Consider using an expense tracking app to monitor your spending and identify areas where you can cut back. By having a clear overview of your expenses, you'll be more inclined to make conscious spending decisions and prioritize your needs over wants.

4. Spend the Cash You Have:

To avoid overspending, leave your credit/debit cards at home and carry a limited amount of cash when going out. This tactic helps you stay within your budget and resist unnecessary temptations. By relying on cash, you'll become more mindful of your spending and make wiser choices in order to save more money.

5. Make full use of money-saving Apps for Shopping, Groceries and Dining

Singapore's cost of living can be high, but you can save money on shopping, groceries, and dining by using apps that offer discounts and cash rebates. Look for apps that provide deals on shopping, groceries, dine-in options, and food delivery. By planning ahead and leveraging these apps, you can take advantage of one-for-one deals, discount vouchers, and exclusive promotions. Don’t forget to consider the following hacks via the My M1+ app to maximize your savings:
•  Enjoy Exclusive Lifestyle Perks with M1 Treats – As an M1 customer, you have access to M1 Treats, an initiative that offers exclusive lifestyle perks. Through the My M1+ app, you can explore curated M1 Treats and enjoy significant savings on various products and services. Simply copy and paste the provided promo codes at the checkout to enjoy discounts, ensuring you never pay full price.

•  Save on M1 Bills with Cashback – M1 offers a cashback program exclusively for its customers. By purchasing offers from selected M1 cashback merchants through the My M1+ app, you can earn cashback credited directly to your M1 bill. This allows you to lower your bill amount or even eliminate it entirely. Take advantage of this opportunity and save efficiently.

*M1 cashback is only applicable on M1 Bespoke subscription bill plans of $30 and above and is eligible only for consumer lines.

6. Top Up Your CPF and SRS Accounts:

Consider making cash top-ups to your CPF Special Account (SA) or Retirement Account (RA) to claim tax reliefs. Contributing early in the year allows you to benefit from compounded interest. Additionally, you can claim tax reliefs for your spouse, siblings, parents, in-laws, and grandparents. Maximize your tax benefits by taking advantage of these opportunities.

Managing your budget and finding ways to save money is essential in today's economic climate. As an M1 customer, you have access to a range of budget hacks and money-saving tips tailored to your needs. By implementing these strategies, such as separating your savings, practicing delayed gratification, and utilizing M1 Treats and Cashback, you can take control of your finances and better achieve your savings goals.

7. Get more savings with M1 family line plans:

M1 family line mobile plans allows flexible and cost saving options that cater to every family needs, which allow mobile subscription package compromising main line and up to 10 other bespoke family lines (starting at $6 per line).  Additionally, you can get a Free OSIM uCozy 3D Neck and shoulder massager upon the sign up for a SIM Only plan concurrently with family line thanks to an ongoing promotion* (while stock lasts).

*Terms & Conditions apply.

Information stated is accurate at time of publication.