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How do you balance being thrifty and enjoying life while in your 20s?

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  • Elsa Goh
    Elsa Goh
    Level 5. Genius
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    Answered on 16 Nov 2018

    Get thrifty friends with similar mindsets as you. If they are all the high income or high spending type, it is almost impossible to be thrifty.

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    • Leong Wen Fong
      This is very true! you are the average of your 5 friends!
      16 Nov 2018
    • Elsa Goh
      I have friends of both types. The high income ones gave me horrified looks when i told them i didnt grab and arrived by public transport. It wasn't a good feeling.
      17 Nov 2018
  • Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
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    Answered on 16 Nov 2018

    There are a lot of things you can enjoy that does not cost a lot of money, you just need to find them. Think positive.

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    • Loh Tat Tian
      Hopefully your friends are not spendthrift. If not, you just "lost" those friends. Hence you need to find friends who support this too
      16 Nov 2018
  • Lucas Ong
    Lucas Ong, GreenBoii at GreenBoiisSG
    Level 3. Wonderkid
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    Answered on 16 Nov 2018

    For myself since I'm living off NS allowance, I force myself to save at least twice the outgoing amount before I start spending (if it is a foreseeable expense). If not, responsible spending (justified and reasonable expenses) is something I try to stand for.

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  • Mengting Wu
    Mengting Wu
    Level 2. Rookie
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    Answered on 16 Nov 2018

    Enjoying life for me = good food and travelling often.

    I'm a huge planner so I always plan: What to Buy, When to Buy (11/11, Black Friday, Cyber Monday etc) , Where to Buy (best promo codes, timed sale), How to Buy (Which credit card, can I stack with Shopback).

    Plenty of apps like Entertainer, Eatigo, and Burpple around to help you save while dining out too.

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  • Lok Yang Teng
    Lok Yang Teng
    Level 6. Master
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    Answered on 16 Nov 2018

    Save money by frequenting cafes and cinemas less. (It’s not about the food or environment, it’s about the company)

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  • Yong Kah Hwee
    Yong Kah Hwee
    Level 6. Master
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    Answered on 17 Nov 2018

    look for deals/discounts! you don't need to spend to enjoy. there are tons of free/cheap stuff that you can enjoy too!

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  • Izah Alep
    Izah Alep
    Level 3. Wonderkid
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    Answered on 17 Nov 2018

    Set a savings target every year. Once you hit the targetted amount and have excess(eg aim to save 10k but have 15k savings within a year,),you can use the excess amount(5k) for guilt free spending. But let me warn you in advance. Once you are thrifty it is very hard to break the habit πŸ˜‚πŸ˜‚πŸ˜‚

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  • Steph Yeo
    Steph Yeo, Auntie Uncle Whisperer at Agency for Integrated Care
    Level 5. Genius
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    Answered on 16 Nov 2018

    "Being thrifty" and "enjoying life" are subjective terms. I think it helps if you can identify some stuff that you think are worthy to splurge on, then for the other stuff you try to save. For the splurge, try to do in moderation.

    E.g. i believe in spending on my yoga classes and eating well. But i still try around yoga studios to find sth that has good teachers, okay facilities and ok price. And i eat healthier food which sometimes may be more expensive than say chicken rice, but i dont go to the extent of eating Daily Cut every meal or cafe-hopping all the time. And i believe in saving on clothes, so i buy from Zalora when on sale. I also dont believe in spending on transport, so while some ppl use Grab all the time, I'm almost always a public transport person.

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  • Gabriel Lee
    Gabriel Lee
    Level 6. Master
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    Answered on 16 Nov 2018

    Currently a 21 year old NSF and I always set aside a sum of money from my monthly "allowance" which will be automatically transferred into my POSB SAYE account. I can then use the remaining amount for my expenses and save up the leftovers in my savings account.

    On a side note, totally agree with Elsa's answer.

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