Inflation and high living costs in Singapore continue to be a top concern for many of us. Other than trying to earn more through investing or side hustles, watching our monthly expenses and finding ways to cut budget leaks is crucial so we always have extra capital to compound in our stock portfolios.
Here is an updated list of 10 practical ways to save money in 2026 that I practice or recommend to keep more of your hard-earned cash.
1. Work From Library (Save Electric Bills For Lighting and Aircon)
If you work from home (WFH) but find the tropical heat unbearable, keeping your home aircon running all day can lead to a hefty electricity bill. By working from a public library, you get free aircon and lighting while cutting down on home utility costs.
Personally, I find the library a very conducive environment because there are fewer distractions compared to being at home. Public libraries like the ones at VivoCity or Orchard Central also offer great scenic views while you focus.
2. Cut Your Own Fruits (Save Costs Buying From Fruit Stalls)
Pre-cut fruit at hawker stalls or food courts often carries a huge markup for convenience.
Buying whole fruits from NTUC FairPrice, Sheng Siong, or neighborhood shops and cutting them yourself takes just a few minutes, but it can cut your fruit expenses by 60% to 70%. When working at the office, bringing a simple fruit peeler and an apple from home allows you to enjoy a post-lunch snack for a fraction of the retail stall price.
3. Bring Your Own Beverage For Lunch (Save Cost Buying Drinks)
Buying drinks, fruit juices, or bubble tea at food courts regularly costs around $1.80 to $4.00 per meal.
Bringing a vacuum flask filled with warm water, honey water, or green tea (using hot water and tea bags from home or your office pantry) saves you around $2 a day. Over a working year, that adds up to over $500 saved. Plus, plain water or unsweetened tea is far healthier than sugar-heavy beverages.
4. Watch Free Content On YouTube (Save Subscription Fees On Streaming Services)
With streaming platforms raising subscription prices across the board, monthly entertainment fees can quietly add up to hundreds a year.
YouTube offers endless high-quality, free content for both learning and entertainment. You can learn personal finance, stock analysis, and options trading step-by-step for free. There are also plenty of classic movies and full-length shows available legally on YouTube without needing multiple paid subscriptions.
5. Work Out At Free Fitness Corners Or Public Tracks (Save On Gym Memberships)
Commercial gym memberships in Singapore easily run $100 to over $200 every month. If you want to optimize your budget, take advantage of the outdoor fitness corners available in almost every HDB estate.
For sheltered running, check out public facilities like the 888m indoor track at the 100PLUS Promenade (Singapore Sports Hub). It is open 24 hours, completely free, fully sheltered, and conveniently connected to Stadium MRT—offering panoramic views of the city skyline as you exercise.
6. Rent A Car Or Use Car-Sharing Instead Of Owning One
With Category A and B COE premiums staying well above $120,000 in 2026, owning a car in Singapore can easily cost $12,000 to $18,000 per year in depreciation alone—before factoring in insurance, road tax, petrol, ERP, and maintenance.
If you don’t want to rely strictly on public transport, car-sharing services like GetGo or Tribecar are a much cheaper alternative. You pay only for the exact hours or mileage driven, skipping the heavy fixed overheads of direct car ownership.
7. Maximize High-Yield Savings Accounts & Cashback Credit Cards
Leaving your cash in a standard account earning 0.05% p.a. loses out to inflation. High-yield savings accounts (like DBS Multiplier, UOB One, or OCBC 360) allow you to earn solid interest by crediting your salary and spending on linked cards.
Pairing these accounts with category-specific cashback credit cards (for groceries and utilities) lets you earn extra back on everyday necessities. Just remember to pay off your balance in full every month to avoid credit card interest fees.
8. Top Up Your / Your Loved Ones’ CPF Accounts For Tax Relief
Making voluntary cash top-ups to your own CPF Special Account (SA) or your family members’ accounts earns a risk-free 4% p.a. interest rate while qualifying you for tax relief (up to $8,000 for yourself and another $8,000 for loved ones).
Reducing your chargeable income tier lowers your overall personal income tax bill, keeping more cash in your pocket to reinvest for the long term. (Note: Course Fees Relief was removed from YA 2026 onwards, making CPF top-ups an even more vital lever for tax optimization).
9. Get Free / Pre-Loved Items On The Internet
You can find plenty of brand-new or gently used items given away for free by owners in Singapore. Platforms like Carousell (filter search by “Free”), Facebook Freecycle groups, and websites like Trash Nothing regularly feature furniture, home appliances, books, and household items.
Getting pre-loved items isn’t about being cheap—it saves substantial money, keeps functional goods out of landfills, and reduces waste to support the environment.
10. Live Within Your Means & Avoid Materialism
This is a core mindset. You don’t need to buy private property, drive a continental car, or dine at fine restaurants every week just to measure up against others or impress people.
It is completely fine to live in an HDB flat, take the MRT, and enjoy simple hawker meals (like finding a great $4.00 cai fan stall). Trying to prove your worth through material things often reflects underlying self-esteem issues. People respect you for your character, attitude, and how you treat others—not the brand of your car or watch.
Concluding Thoughts
To cope with inflation and high living costs, many people focus solely on trying to earn more income. However, if we don’t manage our spending, earning more won’t fix the leak.
A person earning $15,000 a month who spends $14,000 will have less long-term wealth than someone earning $5,000 and spending $2,000. When compounded over 5 to 10 years in low-cost index funds or stocks, that difference is life-changing. Small savings habits really do compound over time.
Learning Investment With Jason Cai 