Summary of "10 Singapore Frugal Habits That Saves me Thousands Every Year 💸"

Top-level thesis

The presenter achieved financial freedom in Singapore by applying 10 frugal habits. The focus is on cutting recurring costs, avoiding high‑taxed consumption, using lower‑cost channels, and directing money into tax‑advantaged investing (Singapore: no capital gains tax, no dividend tax).

Assets, instruments, and sectors mentioned

Consumer spending
- Food: hawker centres, food courts, restaurants, food delivery
- Supermarkets: NTUC (including house brands), Value Dollar, Cold Storage
Transportation and vehicles
- Public transport vs private car ownership
- Certificate of Entitlement (COE)
- Example car: Toyota Prius
Digital / subscriptions
- Netflix (top plan cited)
Secondhand marketplace
- Carousel (buy/sell used goods)
Gambling
- 4D and Toto (lotteries)
Wealth management
- Family offices (as an attraction due to tax rules)
Cross‑border consumption
- Earning in SGD and spending in lower‑cost Malaysia (Johor Bahru) or Thailand
Reading / education
- Public library (example book: The Millionaire Next Door)

Key numbers, timelines, and explicit costs/savings

Housing
- Current rent with wife: SGD 3,200/month
- Estimated saved by living with parents previously: ~SGD 1,600/month
Cars / COE
- Example Toyota Prius: ~SGD 144,000
- COE example: ~SGD 76,000 (at time of video)
- Typical monthly car payment cited: ≥ SGD 2,000/month
- Presenter’s public transport spend: SGD 100–200/month → ~SGD 1,800/month saved
Food
- Hawker meal: often under SGD 4
- Presenter’s food budget: SGD 500/month (hawker/food court) + SGD 200/month (nicer restaurants)
- Colleagues’ heavy eat‑out budgets: up to SGD 2,000/month
- Example restaurant pizza for two: ~SGD 80
- Estimated food savings vs heavy eat‑out peers: ~SGD 1,000–1,500/month
Weddings
- Typical wedding cost: SGD 50,000–100,000
- Expected cash gift per invite (approx.): SGD 200 per attendee; SGD 400 per couple
- Avoiding 10 non‑close wedding invites → ~SGD 4,000/year saved
Alcohol and nightlife
- Pint in city centre: ≈ SGD 20
- Two–three drinks night: ≈ SGD 50–60
- Bottle in club example: SGD 300 (≈ SGD 100/person if shared)
- Prior alcohol spend estimated: ≥ SGD 500/month (now saved)
Subscriptions
- Netflix top plan increase: SGD 26 → SGD 30 (2025)
- Annual cost for top plan cited: ~SGD 360/year
Secondhand marketplace (Carousel)
- Example: baby item new SGD 400 obtained for free
- Presenter estimates ≥ SGD 200/month saved from buying secondhand and reselling
Gambling
- Anecdotal losses; caution about negative expected value and emotional risk

Explicit recommendations (10 frugal habits)

Minimize housing cost — co‑live or stay with family to lower housing outlay.
Avoid owning a car in Singapore — high upfront and recurring costs (COE, taxes); use public transport.
Eat at hawker centres / food courts and avoid frequent restaurant dining and delivery.
Skip or minimize attendance at large, culturally expensive events (non‑close weddings).
Stop or cut alcohol consumption — both for health and wallet; alcohol is heavily taxed.
Buy secondhand first (Carousel) and resell used items to recoup costs.
Cancel non‑essential subscriptions (e.g., Netflix); use the public library and free educational resources.
Choose lower‑cost supermarkets and private‑label/house brands instead of premium stores.
Avoid gambling (4D/Toto) — low expected returns and emotional risk.
“Earn in Singapore, spend elsewhere” — leverage higher SGD wages while spending in lower‑cost neighbouring countries where feasible.

Methodology / 10‑step framework

Step 1: Minimize housing cost (co‑live / family‑supported housing).
Step 2: Avoid large depreciating assets with high taxes/fees (cars); use public transport.
Step 3: Cut recurring consumption (low‑cost meals; avoid delivery).
Step 4: Reduce social‑cost liabilities (skip expensive events you aren’t close to).
Step 5: Eliminate heavily taxed consumables (alcohol, tobacco) and redirect spend to investing.
Step 6: Buy used — leverage secondhand marketplaces to reduce purchase cost and recoup capital via resale.
Step 7: Trim subscriptions and use free/cheap educational resources (library).
Step 8: Optimize grocery spending — prefer house brands and discount stores.
Step 9: Avoid gambling; focus on long‑term wealth building.
Step 10: Currency/geography arbitrage — earn in a strong‑currency location (SGD) and spend in lower‑cost countries.

Macro / tax context highlighted

Singapore: no capital gains tax and no dividend tax for private investors — attracts family offices and foreign wealth.
Government taxes on alcohol and tobacco act as deterrents and raise after‑tax cost of discretionary consumption.
High car ownership costs are driven by the COE system and associated taxes/fees.

Performance metrics and financial outcomes cited

Example monthly savings:
- Housing: ~SGD 1,600/month (living with parents / not paying full rent)
- Transport: ~SGD 1,800/month (vs typical SGD 2,000 car payment)
- Food: ~SGD 1,000–1,500/month (vs heavy eat‑out peers)
- Alcohol/subscriptions: ~SGD 500/month (alcohol); SGD 360/year (Netflix top plan)
- Weddings: ~SGD 4,000/year avoided by skipping 10 non‑essential weddings
- Carousel: ~SGD 200/month saved from secondhand buying/reselling
Outcome: These habits are presented as contributing to the presenter achieving financial freedom (no specific net worth or portfolio metrics provided).

Behavioral and risk management notes

Emphasis on substituting taxed/leisure spending with productive, tax‑favoured activities (investing).
Frugality and minimalism used to preserve lifestyle while lowering expenses.
Geographic arbitrage employed: high income in SGD, lower‑cost living/consumption abroad.
Social and cultural friction: skipping weddings or not drinking may carry social costs; hawker culture supply risks exist (aging stallholders).

Disclosures and missing disclaimers

No explicit “not financial advice” disclosure appears in the subtitles.
Advice is anecdotal and personal; the video does not provide portfolio construction specifics (asset allocation, risk tolerance, expected returns).

Presenters and sources

Presenter: unnamed Singapore‑based YouTuber (first‑person narrator)
Book referenced: The Millionaire Next Door
Locations referenced: Singapore (SGD), Johor Bahru, Malaysia (JB), Thailand (THB)