Singapore is one of the richest country in the world and we all know for a fact that Singapore is the most expensive place to live in but why some people here are saving money? It’s very ironic for a rich country to save cash even though their financial status is stable. However, it’s happening.
All of us needs to save money (for future and emergency use). But Singaporeans have weird ways to do it. Below are some out of this world techniques that few Singaporeans do when saving.
Buying things that are expensive – Almost all people are spending on things that ate cheap. But here in Singapore, quality it more important that the price. This is what they call saving for the future. Buying expensive things with high-quality saves them more money because when they spend on cheap items with low quality, they tend to buy again and again those things which they think an ineffective way of spending.
Riding Private Cars – Instead of riding a bus, train or taxi, car is the most effective way to save cash not only that, cars is also time-saving and convenient. Since Singapore is a busy city, traffic can be a problem. Therefore, if you are in a hurry, you better ride on your own car than wait for some taxi to fetch you. For sure, you’ll arrive at the location in time.
In reality, many Singaporeans do not spend much because they believe that it is better to save (even a little) to invest for the future.