Thursday, January 19

12 Months of Savings Guide

12 Months of Savings Guide

Each month brings new challenges, from the holidays and Valentine’s Day to the back-to-school shopping frenzy in late summer. So with that in mind, here are 12 ideas to help you save more and spend wisely one for every month of the year


Are you stepping into the New Year and reflecting on the spending you made on holiday presents? Pretty sure you'll be making credit card payments until the end of time? Download a 52 weeks challenge savings plan here or set up an automated weekly fund transfer to your savings account from your transactional account like what i did here.

These are savings you put aside throughout the year and reserve for the holidays. You may earn a little interest if you put it in a bank. It is ok even if you put it in your biscuit tin or piggy bank. The main objective is to stash away some money so you don't end up with financial worries in December.


This is the month of LOVE. Whether you are in a relationship, dating, married or just the celebration of friendship, plan in advance so you don't have to make any impulse buying at the last minute just to buy something to show you care.

If it helps at all, focus on the romance part of Valentine’s Day instead of lavish gifts or super fine dining. For example, a picnic lunch is cheap and romantic or if you are good in the kitchen, just whip up a dish or two and you can be as romantic as you wish.  And if you're buying flowers or a simple gift, always remember to do a comparison. Buying online is an alternative and you might just be able to grab some good deals!


This is a good month to buy leftovers from the holidays season we have gone through. Clearance sales will be up for perfumes, chocolates and stuffs that were unsold during Valentine's Day or Chinese New Year.
clearance racks. 


April Fool is not the only happening thing in April! Are you planning for a year end trip or one in the 3rd quarter? April is probably the best time to look out for travel deals. If possible, try to travel during the period just before the peak season, early June, September or October. These are the months where the weather is good for travelling and crowds are lesser and also not forgetting lower prices to many destinations


This is the month we celebrate Mother's Day and it pays to buy early rather than later and Jewelry and gifts tend to go up during the first 2 weeks of May. Experts have also indicated that this is a good month to replace your old mattress. 


The weather is getting warm. And the good news is that June is traditionally a good month for apparal sales and of course, we have the Great Singapore Sale but beware of over indulgence into the SALE mood and end up with impulsive buying. 


Following up on the Great Singapore Sale, stores will continue to blast their discounts and if you have school going children, this would be the time where parents spend a huge budget on getting new clothes, shoes, classrooms materials etc. 

Shopping can be quite expensive and great tip would be to draw up a list of items to buy. It is easy to get off track without a list and end up buying many unnecessary things only to regret later. 


This is probably not a good month to be buying smartphones, tablets, iPhones or any thing that has got to do with android or apple. This is because Apple and Samsung, 2 of the smartphone giants traditionally release their latest models during the months of September and October. Which means that the 'machine' you are holding onto will be old new in just a few weeks time.   


Apple fans will be eagerly waiting for this month to arrive. I talked about not buying smartphones in August. Well, it is still not time to one as we all know it, the first batch of phone will bound to have some problems or minor software issues. Therefore, unless you are one of those Apple fans who just needs to grab the latest iPhone, otherwise you can have a look at previous generation iPhones as their prices would have come down by quite a bit. 

September is also a good month to lock in on your year end holidays air fares as prices will start to increase in October.


As we approach the last quarter of the year. Stores will be clearing their shelves to prepare for their year end sales and we can expect good deals in the Toys department, the Jeans department and also household appliances.


Consider buying for the holidays this month. If you host Christmas parties, year end gatherings every year, start looking for gifts and pre holiday sales. This year, you can also ask your guests to bring a side dish each. Have a potluck feast! It will give everyone a chance to feel involved and also less work for you. And, of course, less cost.


This is probably the happiest month in the whole year! A month of celebration, of reflection and of expectation of the New Year to come. You just can't control the urge to buy all the stuffs on display and bring back a piece of happiness home. Well go ahead and spend!

Scroll back to the month of January. If you had manage to do at least one of the savings challenge, good for you! You can now spend guilt free. But what are the best things to be spending on?

A car dealer friend of mine mentions that discounts will be at the highest towards the final days of the year as they would like to close their books on a high as well as also clearing out their inventory for new car models. You can make a trip to your car dealer to check this information.

Electronics products wise, you may wish to wait until after Christmas as the highest discounts come at this period.

Did I miss anything in the list? Let me know in the comments below!

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