Singapore is a city of superlatives—gleaming skyscrapers, meticulously manicured gardens, Michelin-starred hawker stalls, and one of the world’s most efficient public transport systems. But this lifestyle comes at a price. In 2024, Singapore once again topped the charts as one of the most expensive cities in the world. That means stretching every dollar isn’t just good sense—it’s a survival skill.
While standard financial advice like “track your spending” or “pack your own lunch” is a decent starting point, the truly savvy Singaporean knows that the real magic lies in local knowledge, cultural quirks, and a bit of creative thinking. Forget the tired money-saving tips you’ve heard a thousand times. Instead, let’s dig into nine uniquely Singaporean ways to keep your wallet comfortably padded—without feeling like you’re depriving yourself.
1. The “Hawkerpreneur” Mindset
Eating well in Singapore doesn’t have to cost you a fortune—but it does require strategy. Hawker centres aren’t just a cheaper alternative to restaurants; they’re a cultural institution. And if you know how to navigate them, you can eat like a king for under $5.
Download apps like Burpple or Hungrygowhere to sniff out Michelin-listed hawker stalls or find those rare $3 chicken rice plates that taste like they should cost triple. Don’t just stick to the famous ones—explore neighbourhood gems in areas like Toa Payoh, Bukit Merah, or Bedok, where the locals queue because the food is both cheap and authentic.
For groceries, learn your supermarket tiers. Sheng Siong consistently undercuts Cold Storage and FairPrice Finest, especially for fresh produce and seafood. And here’s an insider hack: supermarkets often mark down perishables in the late evening. Those “reduced to clear” yellow tags can save you 30–50% on items that are still perfectly fine for dinner that night.
2. The MRT “Early Bird” Advantage
If your work schedule allows it, catching the MRT before the morning rush can save more than your sanity—it can save you cash. While the days of completely free pre-7:45am rides are gone, early-bird discounts still exist, especially on certain lines and stations. Over a month, those small savings add up, and you’ll also enjoy a more relaxed commute.
Frame it as a lifestyle shift rather than a sacrifice. Arriving at the office early means you can enjoy a quiet coffee, knock out your most important tasks before the inbox chaos begins, and maybe even leave earlier in the evening. In a city where time is money, starting your day ahead of the pack pays in more ways than one.
3. The “Library Card” Lifestyle
Forget the stereotype of the dusty library filled with silence and stern librarians. The National Library Board (NLB) has reinvented itself as a treasure chest of free resources. With a simple library card—free for citizens and PRs—you can borrow not only physical books but also thousands of e-books and e-magazines via the Libby app.
But the savings potential goes beyond reading. NLB also offers free online courses, language learning platforms, and even access to co-working-style reading lounges where you can work without spending $6 on a flat white. For parents, children’s storytelling sessions and activity kits make it a free weekend outing. Think of it as your personal anti-boredom pass.
4. Utility Bill Mastery
Since the launch of the Open Electricity Market (OEM), Singaporeans are no longer stuck with a single electricity provider. That means you can—and should—shop around for the best rates.
Platforms like CompareSave or Singtel Power’s comparison tool make it easy to see who’s offering the best deal. Often, switching providers takes less than an hour and can save you $10–$20 a month. Over a year, that’s a couple of nice dinners—or more realistically, a buffer for the next GST hike.
Think of it as a one-time power-up in a video game. You put in a little effort now, and the savings keep coming without you lifting another finger.
5. The “CPF Maximiser” Approach
Most people see the Central Provident Fund (CPF) as a locked vault for retirement, but it’s much more versatile. Your CPF can be used for housing, healthcare (via MediSave), and even educational expenses under certain schemes.
If you top up your Special Account (SA) early in life, you can enjoy up to 4% interest—risk-free. That’s far higher than most savings accounts. And thanks to the magic of compounding, even modest top-ups can snowball into a serious nest egg.
It’s not instant gratification, but in a city where living costs can outpace salaries, a well-funded CPF is your secret weapon for long-term security.
6. Subscription Audit for the Modern Singaporean
Streaming services, premium apps, gym memberships, and bloated phone plans—subscriptions are the silent leak in many budgets. The trouble is, they feel small, so we don’t notice the drip.
Do a “subscription holiday” for one month. Cancel or pause every non-essential subscription and see which ones you actually miss. You might be surprised. Swap out expensive telco plans for Mobile Virtual Network Operators (MVNOs) like GOMO, Circles.Life, or TPG, which often give you more data for less.
Remember: the fewer recurring charges you have, the more control you keep over your cash flow.
7. The “Credit Card Connoisseur”
In Singapore, credit cards aren’t just for convenience—they’re a potential income stream if used wisely. The trick is to pick a card that matches your biggest expenses.
If you’re a foodie, choose a card that offers high cashback on dining and groceries, like the UOB One Card or Citi Cash Back Card. Daily commuter? A transport-friendly card like the DBS Live Fresh or OCBC 365 can earn you rebates on MRT and bus rides. Frequent flyer? Opt for air-mile cards such as KrisFlyer UOB or DBS Altitude.
The golden rule: pay your balance in full every month. Used correctly, a credit card becomes a mini rewards machine—not a debt trap.
8. Embracing the Second-Hand and “Free-to-Play” Economy
Singapore’s thrift scene is quietly thriving, thanks to platforms like Carousell. You can buy everything from designer handbags to gently used furniture at a fraction of the retail price—and sell your own unused items to recoup costs.
Beyond shopping, embrace the city’s abundance of free attractions. Hike the Southern Ridges, explore East Coast Park, or catch free concerts at Esplanade’s Outdoor Theatre. The city’s cultural richness doesn’t always require an entry fee. Make it a challenge: how many weekends in a row can you have fun without spending a cent?
9. The Power of “Mindful Spending”
At the core of all these tips is a mindset shift. Before any non-essential purchase, ask yourself:
“Is this a need or a want, and is there a free or cheaper Singaporean way to fulfil it?”
Often, the answer reveals that you’re about to pay for convenience rather than necessity. This isn’t about austerity—it’s about intention. Every time you practise mindful spending, you reinforce the habit of financial self-awareness. Over time, that habit becomes your most valuable asset.
Conclusion
Saving money in Singapore isn’t about depriving yourself—it’s about knowing where to look, when to act, and how to think. The Lion City rewards those who combine resourcefulness with local know-how. Whether you’re mastering the hawker circuit, tweaking your MRT schedule, or finally confronting your subscription habit, these small, smart changes add up.
In a place where the cost of living shows no sign of easing, the ability to stretch your dollar without feeling the pinch is a superpower worth cultivating. The beauty of these nine strategies is that they don’t just keep your bank account healthier—they also deepen your connection to Singapore’s culture, quirks, and hidden gems.
After all, the real secret to saving here isn’t in cutting joy from your life—it’s in finding the joy that’s already free.
