So hard to save money

Thats why there are side hustles available

Re: so hard to save money

I get it - Singapore's cost of living makes saving feel like trying to fill a bucket with a massive hole at the bottom. But here's what I've learned after helping 250+ young professionals: the problem isn't usually your income or expenses. It's that nobody taught us how saving actually works in practice.

Why Traditional Advice Fails in Singapore

Last month, I worked with Marcus, a 26-year-old software engineer earning $5,200. He came to me frustrated because despite following all the "standard" advice - tracking expenses, cutting coffee, budgeting apps - he still couldn't save consistently. After three conversations, we discovered the real issue: he was trying to save whatever was "left over" each month. Some months he'd save $800, other months $50, most months nothing at all.

We restructured his approach completely. Instead of saving leftovers, we automated $1,200 monthly transfers the day after his salary hit - split between emergency fund, investments, and SRS contributions. Within six months, he'd built his first $8,000 emergency fund and started investing regularly. The game-changer? He never "felt" the money because it moved before he could spend it.

The Myths Keeping You Broke

Myth 1: "I need to track every expense"Wrong. Obsessive tracking creates analysis paralysis. You don't need to know you spent $4.80 on kopi - you need systems that work regardless of small spending fluctuations.

Myth 2: "I should save what's left over"This backwards approach guarantees failure. Your brain will always find ways to spend available money. Pay yourself first, always.

Myth 3: "I need to cut everything fun"Unsustainable. Extreme restrictions lead to spending rebounds. Build enjoyment into your plan, not around it.

Myth 4: "I need a higher salary to save"I've seen people earning $3,500 save more consistently than those earning $8,000. Systems beat salary every time.

The Foundation System That Actually Works

Here's the framework I use with every client, adapted for Singapore realities:

Step 1: Automate Before You Think

• Set up auto-transfers for the day after salary
• Start with just 15% of take-home if money feels tight
• Split: 10% emergency fund, 3% investments, 2% SRS
• Increase by 1% every three months

Step 2: Singapore-Specific Optimization

• Max out SRS contributions ($15,300 annually) for tax relief
• Use bank promotion rates for emergency funds (currently 3-4%)
• Consider Regular Savings Plans for consistent investing
• Factor in annual bonuses for lump-sum contributions

Step 3: Lifestyle Calibration

• Budget for hawker meals AND occasional restaurant visits
• Plan for CNY/Deepavali gift money and holiday expenses
• Include transport costs realistically (not just MRT, but Grab when needed)
• Build in social spending - you live in Singapore, not a monastery

The Psychology Shift That Changes Everything

Stop thinking "I can't afford to save" and start thinking "I can't afford NOT to save." In Singapore, with property prices and retirement realities, the cost of not building wealth early is massive.

When clients tell me saving is hard, I show them this calculation: $500 monthly invested from age 25 to 35 (just 10 years) typically grows to more than $1,000 monthly invested from age 35 to 65 (30 years). Time is your biggest asset, and it's disappearing daily.

Your 30-Day Challenge

1. Calculate 15% of your take-home salary
2. Set up automatic transfers for that amount
3. Divide: 60% emergency fund, 25% investments, 15% SRS
4. Live off what's left for one month
5. Track how it feels, not how much you spend

Most people discover they don't miss the money after two weeks. Your lifestyle adjusts automatically when spending limits are real, not theoretical.

The Singapore Advantage

Unlike other countries, we have incredible infrastructure for building wealth: CPF matching, SRS tax benefits, excellent banking systems, and stable investment platforms. The challenge isn't lack of tools - it's lack of systems that use these tools consistently.

Remember: you're not saving money, you're buying your future freedom. Every dollar saved today is a vote for the life you want at 35, 45, and beyond.

Stop waiting for the "right time" to start saving. The right time was yesterday. The second-best time is today, with a system that actually works in Singapore's reality.

Ready to build a savings system that fits your actual life, not some textbook theory? Follow me on Instagram @ngooooied for practical strategies that work for real Singaporeans with real expenses and real goals.

-Zhi Cheng

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Maybe too many bubble tea spending and just reduce it for example? These small expenses can have some impact.