Asked on 21 Mar 2019
To 'hang out with friends and go out occasionally' might not need as much money as you think, or at least it should not have to thwart your savings plans!
Coming from someone who has been a saver since my very first internship, I have always been looking for creative ways to spend time with friends and family. Assuming you are based in Singapore, I personally feel Singapore is a great place to have hangouts that usually don't cost much (unless your definition of hanging out has to be an atas one - Champagne Brunch, anyone?'
Activities you can do with friends:
1. #my10ktoday: Work up a sweat by taking a run along the Marina Bay route. Many people do it in groups, and it's essentially free. Same logic goes for hiking/cycling/etc. at the various Nature Parks in Singapore.
2. #sghawkerculture: Skip atas high teas and fancy brunch places and get a $1.50 drink with friends at local kopitiams! Support local hawker culture ;)
3. #theatresonthebay: Catch a free performance at Esplanade. They tend to have something good every weekend - so if your friends are arts lovers, that could be an option.
Honestly there are so many free things you can do in Singapore with friends. Even though I know I can spend $20-30 on overpriced eggs and sitting on my ass for two-three hours talking to friends, I get alot more satisfaction having some kick-ass teh halia for $1.50 at the local hawker, and then go for a stroll with friends along the Marina Bay route!
I am a millenial and I am cognizant of how peers might like to go to 'nice' (read: atas) places on the weekends, take a bunch of pretty photos on cafe hopping adventures and spend upwards of $30-40 in a day. Of course, to each their own - but if you are looking to save money, then you would need to think about cheaper options along the way!
Hi there! I'm a 20 y/o NSF so I can understand this conflict that you're having. Personally, I set a budget when I go out with my friends to eat and have fun. Usually <$10 per meal. If drinks are involved, I'll cap it at $20. Do note I drink maybe once/twice a month.
Some tips to stretch the dollar:
1) Visit Hawker Centres
2) Book restaurants using Eatigo (up to 50% discount)
3) Pay using Favepay + Grab credits
4) Share a meal if you're not particular hungry
5) Plain water instead of bbt/sweet drinks
6) Use credit card to accumulate points/rebates (Pay on time!)
7) Do you really need that upsize?
8) Take advantage of coupons/combo meals
I believe other answers touch on the activities you can do for free so I don't want to touch on that.
Ultimately, it comes down to self-discipline to say no when your friends invite you to hang out every now and then. Fret not, it will bear fruit in the future!
You could make a budget and explain to your friends.
still, don't forget to be generous towards them, since
socially invested/shared money is a good thing when you like these meetings.
Find good deals!
If you are looking to dine out with your friends consider using apps that gives you discounts: free apps includes eatigo, shopbackgo, fave pay, chope. Paid apps such as burpple beyond and entertainer offers 1-1 deals. If you are considering to get paid apps, you can consider sharing the cost of the app with a few friends.
As a university student, I feel your pain :") I like to eat as well, and I realised that the little things really add up. I carry a water bottle everywhere so I don't get drinks unless I specially want to try it e.g a new bubble tea brand :") As for having fun, I think going to each other's houses to chill is also very good because you can dabao food and chill somewhere for a few hours instead of going to a cafe. I also try to find free spots that are nice, like rooftops or gardens to have picnics! The ambience is also nice with a group of friends (group of 5 ok!!) and you can share food too.
Consider turning to free activities! There's a lot of light installations, or free exhibitions and museums during the year that could be alternative activities to paid recreations. (Take a look at the updates by honeycombers, timeout sg)
Look for deals! (especially student promos while you still have ur student card) Weekday before 6pm movie tickets are affordable, or lunch deals at budget friendly eateries or even 1 for 1 vouchers online!
Ultimately, it's about finding the right balance! For students, the holiday periods may really put their wallets to the test, with more outflows and frequent get-togethers, so saving more on regular school days with 1-2 less drinks/ snacks might help accumulate some savings, and a less-guilty spending.
Investment wise, it is a long journey... consider getting involved in side hustles to get alternative income sources, allocate a portion of ur allowances/ income into another account, so you'll be less tempted to spend it while having fun
Budgeting is key! Before you spend you hard-earned money, set aside the money.
1)You can start by preparing your meals at home! It will really save you a lot of money than buying outside or using Grab delivery.
2)When you hang out with your friends, you don‘t have to go to expensive places!
3)Shop only when you need it not want to buy it. You can do window shopping!
4)Get an investment account. Allocate your money well. At the end of the day, you control what you spend. Don’t get influence by your friends to purchase impulsively!
Go somewhere cheaper? if not just skip it. They don't want to accomodate your cheaper location then skip it, unless they treat haha...