Household expenses (29.8%), food (20%), and transport (13.4%) consume over 63% of Singaporean household budgets, creating high vulnerability to inflation.
Strategic use of credit cards offers up to 8% cashback on daily expenses, while food delivery subscriptions can save $35-45 monthly through optimization.
Digital platforms provide flexible income sources, from online tutoring ($1/question) to content creation ($350/article), helping offset rising living costs.
Singapore's position as a global financial hub makes it particularly sensitive to international economic trends. While the government has implemented various support measures, understanding the specific impact of inflation across different sectors is crucial for effective financial planning.
Recent data reveals significant price increases across essential sectors in 2023:
Food expenses typically constitute 20-30% of a Singaporean household's monthly budget.
With the rise of food delivery services and changing dining habits, there's significant potential for both savings and overspending. The key lies in balancing convenience, cost, and quality.
Food expenses typically constitute 20-30% of a Singaporean household's monthly budget.
With the rise of food delivery services and changing dining habits, there's significant potential for both savings and overspending. The key lies in balancing convenience, cost, and quality.
Subscription Services ROI
| Name | Subscription Fee | Possible Savings | |
|---|---|---|---|
 |
GrabUnlimited | $5.99/month | Average savings $45 on delivery fees |
 |
Foodpanda Pro | $5.99/month | Potential savings $35 - $40 |
 |
Deliveroo Plus | $6.90/month | Average savings $38 |
Weekday Meal Strategy
Singapore's sophisticated transportation network offers multiple options for cost-effective travel. The integration of digital payment systems and transport apps has created new opportunities for optimizing travel expenses.
With Singapore's smart nation initiatives, transport payments have become increasingly integrated with digital platforms. Understanding these systems and their associated rewards programs can lead to significant savings.
Smart Commuting Options
SimplyGo with credit card
2% cashback on transport
Multi-transport planning apps
Save $0.30-0.50 per journey
Off-peak travel
Potential monthly savings of $22
The variety of transport options in Singapore, from MRT to ride-sharing services, allows for strategic choices based on time, distance, and cost. Understanding peak pricing and service patterns can help optimize transport spending.
Private Transport Alternatives
BlueSG
$0.33/min for short trips
RydePool
20-30% cheaper than standard rides
Off-peak travel
Peak hour savingsup to 25%
Singapore's retail calendar offers predictable opportunities for significant savings. Understanding these patterns, combined with digital tools and payment solutions, enables strategic purchase planning and reward maximization.
Major shopping events in Singapore often coincide with cultural festivals and international sale periods. Planning purchases around these events can lead to substantial savings.
Major Sales Event
Singapore's advanced digital payment infrastructure offers multiple opportunities for maximizing returns on everyday spending through strategic use of credit cards and payment platforms
Credit Card Strategy
Utility costs represent a substantial fixed expense but offer considerable optimization potential through smart technology and conscious usage patterns. Singapore's utility costs are influenced by global energy prices and local infrastructure investments. Understanding consumption patterns and utilizing smart technology can lead to significant savings in this essential expense category.
Specifically for telcos, it is often beneficial to look for service bundles that offer substantial discounts. Review your phone and internet subscriptions and get the plan that suits your usage patterns.
Remove unnecessary add-ons that you are not using but are being charged to your monthly service fees. Look for service providers that offer loyalty programs for added discounts and perks to save you more money.
| Mobile Plan | Monthly Price | Data | Network | |
|---|---|---|---|---|
|
Cheapest
|
 Zero 1 Starter |
$7.06 | 100GB + unlimited* | Singtel |
 VIVIFI Roam Starter
|
$7.70 | 100GB | Singtel | |
|
Mid-range
|
 MyRepublic Unlimited
|
$25.90 | Unlimited | M1 |
|
Premium
|
 Circles.Life 5G Special (1TB)
|
$40 | Up to 1TB 5G rollover | M1 |
*unlimited data on throttle speed
The adoption of smart home technology and energy-efficient appliances can significantly reduce utility costs while maintaining comfort and convenience.
Electricity Optimization
Water Consumption
For Singaporeans in the workforce, asking for a raise or getting that much-deserved promotion might not immediately be possible. Economists foresee challenges in both local and global business and political environments that will affect real wage growth. This notwithstanding, the common folk could find ways to set up income streams to add to their monthly cash flow.
Today’s gig economy is robust, and there are a good number of creative ideas for those who are willing to put in the extra work for more income. Some part-time ideas include tutoring, food delivery, graphics design and content creation, event hosting, and selling, among others.
| Earn From | Websites | Data |
|---|---|---|
| Testing Websites & Apps | UserTesting | ~$13.80 per test |
| Online Translation Services | Gengo, Freelancer, Upwork | ~$28.98 to $57.95 assignment |
| Selling Photos or Stock Images | Shutterstock, iStockPhotos etc. | ~$0.14 to $8.01 per photo |
| Online Tutoring | Snapask | $1 per question |
| Selling Recipes | EatingWell Cuisine At Home | ~$69.01 to $350 per article |
| Adhoc Errands | Quest - Hire a Hero | $3 to $360 per quest |
One of the best ways to beat inflation is to put your money in financial instruments that make your money earn higher than the inflation rate. There are investment tools that allow even beginner investors to benefit from the expertise of fund managers in beating inflation. Exchange-traded funds and unit investment trust funds are good options.
Prudence is, of course, still recommended when choosing your financial services partner to ensure that you are getting only the best investment advice.
Singapore's fintech ecosystem offers sophisticated tools for managing personal finances. These digital solutions can automate savings, track expenses, and identify optimization opportunities.
Digital tools can provide valuable insights into spending patterns and help identify areas for optimization.
Shopping Optimization
| Name | Subscription Fee | Possible Savings | |
|---|---|---|---|
|
Seedly | Free | Singapore-focused tracking |
|
Spendee | $2.99/month | Multi-currency support |
 |
Money Lover | $4.99/month | Detailed categorization |
Shopping Optimization
In Singapore and in most other countries in the world, inflation is a reality that people face. Your money is likely to lose its value over time if you do not make a conscious effort to ride the wave of inflationary forces. The good news is there are financial experts that you can trust to help you build and manage your personal financial portfolio so you can enjoy financial wellness today.
Making use of both savings and debt instruments wisely can help you navigate the financial landscape, successfully meet your obligations, and achieve your future goals.
DISCLAIMER
This information herein is published by ROSHI Pte Ltd (UEN 202222480E) (“ROSHI”) and is for information purposes only. This publication is intended for ROSHI and its clients to whom it has been delivered.
This report contains aggregated insights derived from various public sources including:
This guide provides insights and practical strategies to help Singaporeans navigate rising inflation while acknowledging that economic conditions and recommended approaches may change. ROSHI makes no warranty to accuracy or assumes any responsibility for decisions made based on this report. Figures used are for illustration and do not bind ROSHI. ROSHI performs marketing and matchmaking services to connect clients with lending partners but does not directly offer any lending or financial advisory services under regulation by the Monetary Authority of Singapore. Users of this report should consult professional advisors before engaging in any transaction. This report is meant solely for insight purposes following Singapore laws and regulations around data privacy. Please contact ROSHI for authorization before reproducing or relying on the analysis.
