Savvy ways to stack your savings

Savvy money saving tips (Photo: Getty Images)
Savvy money saving tips (Photo: Getty Images)

They say the best things in life are free, but sadly there’s no way around certain recurring costs, like food, rent and utilities. Make it your new year’s resolution to be a smart spender and take a strategic approach to your living costs. Check out these tips for stretching out your hard-earned dollars, from bulk-buying to lowering your energy bills.

Buy big

This might sound counterintuitive but always go for multipacks or family-size options when shopping for everyday goods, from canned soups and sauces to cleaning products and toiletries. They are obviously pricier than regular-size or single packages, but the overall cost per unit of product works out cheaper! Go shopping with friends and split the products if you don’t have enough space to store all those multipacks in your own flat.

Sign up for a flexible fitness pass

Weight-training, cardio, yoga, barre—having a diverse exercise regimen is both healthy and fun, but paying for an individual membership at each gym or studio is a surefire way to rack up your spending. Instead, sign up for a fitness pass that works for multiple venues. Whether you prefer to train solo or to join classes with friends, an aggregated membership is a cheaper way to keep your workouts fresh and varied.

Learn to cook

Eating out with friends or ordering takeaway is a great way to enjoy a tasty meal without the hassle of cooking, especially if you aren’t the world’s best chef. Unfortunately, restaurant food is guaranteed to blow up your food budget. Keep your spending under control by meal-prepping for most of the week and eating out or grabbing takeaway only as a special treat. There are loads of quick and easy recipes and cooking tutorials on the internet for you to discover. Spice things up by trying new dishes from different cuisines and invite friends over to cook with you instead of splashing out on a get-together at a restaurant. An added benefit is that you can eat healthier: cooking at home means you have control over your ingredients and portions, and can avoid using excessive MSG, sugar and fat.

Go green

Living sustainably isn’t just good for the planet—it’s good for your wallet too! Conserving water and energy helps to reduce your bills, so remember to turn off electrical appliances when they’re not in use and make sure to repair any leaky faucets. Set your washing machine to a lower temperature and always do full loads of laundry rather than lots of smaller loads. If you have plants at home, water them with the collected moisture from your dehumidifier instead of tap water. You can also save money by repurposing jam jars and sturdy plastic takeaway boxes to store food instead of buying brand new containers.

Fix your electricity rate

Tried reducing your energy use but still ended up with a huge electricity bill? This is an unfortunate effect of the global energy crisis. When the world’s energy markets are unstable, prices fluctuate. That’s why households that pay for electricity on a quarterly basis may see significant price hikes even if their energy use is relatively consistent. Due to the ongoing energy crunch, SP Group has announced yet another tariff increase—averaging at 5.6% for most households—in the first quarter of 2022.

With a fixed-rate electricity plan, you can lock down an advantageous price for a specified duration, protecting you from fluctuations in global energy markets. For example, Geneco’s most popular plan, Get It Fixed 24, comes with a Price Match Guarantee that lets you enjoy the lowest rate in town at 25.50¢/kWh for 2 years (versus SP’s regulated tariff at 27.22¢/kWh for January–March 2022) and enjoy a $50 bill rebate with promo code <GOLDEN50>. To sweeten the deal, use our referral code <YAHOO30> to enjoy an additional $30 bill rebate! What’s more, stack extra $35 bill rebates if you set up recurring payment with selected credit cards. With Chinese New Year coming up, this is especially beneficial: a low fixed rate means you can keep your aircon on full blast to keep your guests comfortable in this hot weather.

If you’re an existing Geneco customer, now’s the time to share these great deals with your friends and family because Geneco is running a referral contest from 3 January to 28 February 2022. Be one of the top 8 referrers and walk away with a whopping $888 bill rebate! Plus, there’s no limit on the referral rebates you can earn: every successful referral gets you and your friend a $20 bill rebate each. Keep referring for endless rebates.

Hurry, visit Geneco to sign up now! Offers end on 28 February, so don’t wait to make the switch!

This content was produced in partnership with Geneco.

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