What are you willing to sacrifice or give up to improve your financial situation? - Seedly
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Gabriel Tham

Asked on 06 Jun 2019

What are you willing to sacrifice or give up to improve your financial situation?

I see many people want to improve their finances but find it hard to commit, change lifestyle or sacrifice

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Vivien Lee Feng
Vivien Lee Feng
Level 4. Prodigy
Answered on 14 Jun 2019
  • sacrifice grab ($20) and go for public transport ($2)

  • sacrifice atas coffee like starbucks (easily $5) nd go for kopitiam coffee ($1)

  • sacrifice movie ($12/ movie) and go for netflix ($7/ mth if shared between 2 person)

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👍 6
Germaine Chong
Germaine Chong
Level 4. Prodigy
Updated on 14 Jun 2019

1) sacrifice spending on material things. spend more on experiences instead.

2) spend time & energy on the people that matter most to u (family, close frens). life is short. the rest (eg social interaction) can wait.

3) nv sacrifice health n too much slp. staying healthy is e most impt for all e sacrifice to b worthwhile! 🙂

2 comments

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Jerry Micro Jie
Jerry Micro Jie

14 Jun 2019

I totally agree
Vivien Lee Feng
Vivien Lee Feng

14 Jun 2019

I totally agree
Cedric Jamie Soh
Cedric Jamie Soh
Level 8. Wizard
Answered on 13 Jun 2019

My beloved government.

they have done well, lead by LKY. But currently they seems to have lost track. Why must Singapore govt keep telling us that our GST is Low and other countries are expensive? And then keep hinting us GST has to go up soon.

our country is not poor, we can use more golden eggs prudently without killing the golden goose.

GST hurts the poor more than most of us upper class. Why our system can have gst free for gold and silver bullion but not for rice / noodles / basic necessities?

for my better financial life, I am willing to give up the current government I love so much.

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👍 3
Heng Kai Le
Heng Kai Le
Level 5. Genius
Updated on 13 Jun 2019

Travel.

just kidding. No travel, no life.

personally, I don’t mind giving up my_ me _time to earn some spare cash. I’m not so particular about whether these side gigs would boost my competencies to the extent that I could get better-paying jobs in future, but these gigs must offer me another dimension of satisfaction other than my main job. For instance, I worked as a travel promoter at NATAS Fair before and earned a non-lucrative, albeit decent, sum of $60 for four hours of work.

1 comment

👍 3
Kenneth Lou
Kenneth Lou

13 Jun 2019

Haha same > just kidding. No travel, no life.
E
Eugene
Level 3. Wonderkid
Answered on 06 Jun 2019

It really depends on individuals. Like that you mentioned, there are people who live payday to payday just to afford their car instalments. But for me I would say that if there is a cheaper alternative to what you're using or paying for now, by all means downgrade so that you can plan better for your future.

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👍 3
Jessica Tan
Jessica Tan
Level 2. Rookie
Answered on 13 Jun 2019

I found it hard to give up on alot of things so i started small. I gave up Grabbing and taxis and also the "need" to go out every friday/saturday night. Easily saved additional 300-400 a mth from that 😅😅

I use the extended travel time now to have "1 hour disciplined me time" by reading or catch a netflix show, and use time that im at home to read up on finance articles or books

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Sherry Joanna Lee
Sherry Joanna Lee
Level 3. Wonderkid
Updated on 26 Jun 2019

I will choose to reduce rather than give up/sacrifice and adjust accordingly which I felt that I spent the most. There's alot of alternatives out that to maintain the lifestyle you are currently enjoying or loves it which you can check it out!

However, I personally felt, as long as you have a your own rules of financial journey and spend within your means, you will not be short change in the future unless you do nothing 😉

1 comment

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Takingstock @
Takingstock @

26 Jun 2019

I think the word usage is good. Yes we dont have to give up or sacrifice entirely, we are just doing less or on a need to basis
Bang Hong
Bang Hong
Level 6. Master
Answered on 07 Jun 2019

I know how to improve but no, not gonna do anything about it.

Life.

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👍 2
Yong Kah Hwee
Yong Kah Hwee
Level 8. Wizard
Updated on 26 Jun 2019
  1. Sacrifice on drinks during meals. Just drink plain water.

  2. Sacrifice taxis to take public transport/walk instead.

  3. Sacrifice social drinking with friends. Would rather go for experiences. Drinks are expensive :(

But i would not sacrifice on:

  1. Giving parents allowance.

  2. Paying for insurance

  3. TRAVEL!!!!!

1 comment

👍 1
Takingstock @
Takingstock @

26 Jun 2019

Totally agree on the off limit items!!
Teo Hui Ting
Teo Hui Ting
Level 2. Rookie
Updated on 13 Jun 2019

Willing to sacrifice:

  • luxury bags more than $400

  • other branded items more than $200

  • cab rides

  • high-end skincare products

  • make up products

  • local staycations

  • high tea

  • fine dining

  • hotel stays during overseas trips

  • fitness memberships

  • owning a car

  • air-conditioning

  • 1-2 weekends per month working 8 hours of part-time in addition to full-time job

  • trends that don't add value or happiness to my life

0 comments

👍 1
Niko Gunadi
Niko Gunadi
Level 2. Rookie
Answered on 13 Jun 2019

Restaurant food. A restaurant meal which is $30-50 per meal is easily a 10 meals in hawker centre. A 1 to 10 comparison.

Taxi or Grab. Taking additional 10 times of those with average fee is $15-20 is easily $200 per month. Taking 20 times (5 times a week) save you $400 per month. A well planned trip with public transport can save alot.

I'm not saying will sacrifice that not eating restaurant food or taking taxi/grab. But saving them sparingly will go long way to save money.

0 comments

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Rave Ong Ci De
Rave Ong Ci De
Level 6. Master
Answered on 13 Jun 2019

Short term or permanent?

If it is short term, it is a temporary abstinence until the target is reached. As such, it can be everything. Well, most things anyway.

Maybe except health because it is irreversible.

If it is a permanent one, I guess there’s not much to give up. Maybe giving up a solidarity life of a hermit. You know, the more you give, the more you gain.

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The Holy Answer will be TIME.

I use Time Based Decision.

That means I would use time as a main factor to help me make a decision.

If i really wanted something badly but time does not allows, I will skip and move on. In my personal experiences, if i can save time, I can make more money.

Some arguments can be, if a person wanna save time to take cab or grab then the person have to spend more money.

You see, the above is always an argument but the key factor in Time Based Decision is PLANNING.

Hope my replies help.

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Daryl Khor
Daryl Khor
Level 3. Wonderkid
Answered on 25 Jun 2019

Eat to live not live to eat, skip the fancy restaurants/ cafes

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👍 0
Hazelle
Hazelle
Level 2. Rookie
Answered on 25 Jun 2019

Sacrifice BBT + other store bought beverages just drink water. Can save up to $80 per month.

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SW
Shaun Wq Lim
Level 6. Master
Answered on 18 Jun 2019

The car’s COE expired this month. Decided not to get another car and go with public transport. Should be able to save the operating costs.

Packing meals for lunch and saving the difference. Weight loss is a bonus. Health should get better.

Sleeping enough for rest and general well being means cutting down on social activities. (Might be signs of getting older too ;P) Indirectly helping with making better financial decisions.

0 comments

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Serene Toh
Serene Toh
Level 6. Master
Updated on 26 Jun 2019

Cutting out the small things just don’t make sense to me, actually I don’t have a lot to cut out already.

  • Don’t do grab except for reimbursable office work, unless I get Seedly grab vouchers XD.

  • already on Sim only plan, saved $35

  • cancelled my cable TV last month. Saved $45

My only comfort is food. Which I monitor the Budget closely. That said, I mostly prep food at home. Don’t spend more than $200-300 on restaurants and cafes, eating out in general (including hawker)

Sacrifice Vacations maybe. (It’s occasional for me now. Not a must go, annual affair) Can save about $2000-3000 for small trips $5000-6000 for major trips

Sacrifice privacy to get extra cash? Not sure if it’s good for my mental health though. Can earn about $2000-3000. Can also save on taxes if utilities included in rent.

Currently, I feel my situation is just right. But if I need to do something drastic, I will consider to move in with my parent and renting my house out.

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I cut back on purchases like clothings, bags and shoes.. I get good basics one and wore them for a long time. Helps me cut back on mental fatigue as well (thinking of what to wear 😂)

I however... Spend on Grab. I do use MRT/Buses and because my workplace is near to my home (but there's only one bus and it takes an awful long time), I chose Grab to save my mind.

I cut back on expensive restaurants/cafes/Starbucks. I still go for them; but on rare occasions or when there's an offer/vouchers/really good reviews. Starbucks has been downgraded to cheaper option of bubble tea (which I am cutting down tooo)

Lastly, cut back on friends. Seriously. I noticed after I cut back on friends who can only go out with you to expensive experiences and places, my life has been much better without the financial burdens + mental burden to explain why I can't go with them. 😂

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Margaret Ang
Margaret Ang
Level 2. Rookie
Answered on 13 Jun 2019

Sacrifics eating at restuarants.

Food can be cheap and nice at coffeeshop.

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