It is not how much you make, it is the ability to save and how much you keep that matters. If your resolution is to grow your wealth, adopting ‘’A dollar saved is a dollar earned’’ mindset will move forward and closer to your goal.


Here are 3 lifestyle choices that will make you smarter with your money.



Avoid signing Gym Memberships

  • How often do we tell ourselves to lose weight when the clock strikes midnight on New Year’s day and decide to sign up for a gym with the intention to workout daily, only to have a few Instagram post to show for it.
  • Signing a gym membership is a commitment that can last a year, and also include additional cost such as initial signup fee, personal trainer cost, on top of your monthly membership fee.
  • Instead Opt for per-visit gyms such as ActiveSG Gyms which have branches scattered islandwide, and with their entry price as low as $2.50, your potential savings will ‘get swole’ together with your workout gains.

Using Grab as your main mode of transport to work

  • Gone are the days where we had to call ComfortDelgro hotline to book a cab (People born in the 80s may understand) after the disruption of ride hailing services. However, the convenience of hailing a transport with a press of a button comes with a cost.
  • One way to make taking grab less enticing (for that extra sleep) is to think of it as paying yourself for waking early.

    Fig. 2 By taking public transport, I will essentially be saving $22.50 for 30 minutes of my time. Another way of thinking is that I am paying myself $45/hour for less slep hour.
  • Our public transport infrastructure has vastly improved and is well connected to make getting around Singapore easier. By planning your schedule ahead, it will go a long way in helping your savings journey.

Buying hope (Lottery)

There is saying ‘’ Got buy got hope, no buy no hope.’’

  • We often see long queues at the Singapore pools counter on days with lottery, but how many of them really do strike big. The idea that I will win the lottery eventually if I bet the same number every single time is a fallacy, as each number draw is an independent event.
  • Mathematically, the odds of winning a 4D is 1 in 10,000. The alternate way of seeing is the odds of losing is 9999 in 10,000. Spending $10 - $50 a week religiously on your favorite number do not look as attractive now. Instead, you have better odds of building wealth with investments or savings in the long term.
  • The Journey of accumulating wealth starts from today and it is never too late to start! There is a proverb ‘’ sedikit-sedikit lama-lama jadi bukit’’. In translation, it means "Bit by bit, over time, it will accumulate into a mountain.

  • If you are looking for ways to grow your wealth with your savings, over here at Insurance Empire, speak to our trusted partnered advisors on saving and investment plans.

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