5 Practical Money-Saving Tips for Expats

Singapore Furniture Rental Stores

Moving is a hassle, what’s more, it can be quite a stressful period of time for you. And the last thing you need is the added stress of financial problems.

Having said that, we’ve rounded up a couple of money-saving tips below that should come in handy for an expat such as yourself:

1.    Watch Where the Locals Eat or Drink

If the place you’ve been eating at lately doesn’t have as many locals in it, you’re in the wrong place.

Unless you have a local guiding you to the best places to eat around in the area, you’re on your own.  But, don’t worry, because, with a bit of observation, you’ll eventually learn of all the places where the locals go out to eat or drink.

The sooner you learn from the locals, the sooner you’ll be able to save money on your food and drinks.

2.    Shop Online

The retail mark-ups can be quite insane in stores, but it’s incomparable to the prices online. The prices online are much cheaper, because there is no need for owners to chip in any capital or resources into the rental space. You’ll be even surprised to know that in some countries, the prices between online and brick-and-mortar stores can be so high that you’re better off buying from abroad and paying for the shipping fee and have it shipped to you than buying from any of the local stores.

3.    Get a Local Credit Card

Credit card transactions can easily add up when you’re using a credit card from your home country. Not only will the bank charge you for the currency conversion, but you can also be charged for making a foreign transaction, which can range from 1% to 2%.

So, if possible, apply for a local credit card as soon as you can instead. Other than saving your money on fees, you can also get a lot of benefits from a local credit card, including cashbacks, restaurant deals, and discounts.

If you use your credit card frequently, you can end up saving hundreds of dollars a year with a local credit card as opposed to using a credit card from your home country.

4.    Try Walking

Did you know that many countries, especially in Asia, are small enough that you can walk most of it? For example, in Singapore, you can pretty much walk to anywhere you want. Sure, you could buy a car, ride Uber/Grab or get a taxi, but why would you? The place is literally small enough for you to go walk to-and-fro walk every day.

5.    Lease Furniture

Look around for furniture rental stores in Singapore as soon as you land.

Unless you’re willing to spend money upfront on furniture or afford a fully furnished pad, renting furniture is one of the most effective ways to decorate your new apartment without breaking the bank.

Just make sure that you read through the rental agreement first and know what you’re getting into. Also, try to make it a point to eventually buy furniture so you can send the rentals back. Or, better yet, sign a rent-to-own agreement so you can eventually own the furniture that you’re paying for every month after a long-term lease of 12 months.

Follow this list of tips, and you’ll have no trouble moving into foreign land!