8 new ways to save money at home

Did you know that families in Singapore spend nearly $700 per month on household expenses on average? That’s nearly 15 per cent of the average household monthly income.

If you’ve been struggling to reduce your household expenses without much success, maybe that’s because you haven’t been following the latest lifestyle and household happenings. But it turns out there are some new trends which actually have the potential to help you save more than a pretty penny.

Ready to reduce your household expenses, and try out some new trends while you’re at it? Well then, check out these best new ways for saving money at home.

1. Ditch Your Electricity Provider

The Open Electricity Market now has 13 electricity vendors available to meet the energy needs of Singaporean households, and its launch has been rolled out progressively since November 2018. With this fierce level of competition, you can bet there’re savings to be had. Afraid that switching to a retailer might affect your electricity supply? Don’t fret, SP Group will continue to operate the national power grid and deliver electricity to everyone, so there’d be no disruptions during the transition.

Have a look at the rates and packages being offered by the contenders and suss out what you feel is the best deal for you. You can easily do so here, but note that you’ll have to wait till the scheme is rolled out to your geographical area.

Photo: Screengrab from Open Electricity Market