Most “waste” in Singapore comes from friction and inertia: transport, housing finance, food convenience, and high-fee products.
These leaks are recurring, behavioural, and invisible.
They compound against you.
Kill the leak and you recover cashflow and energy.
This article was written by a Financial Horse Contributor.
1) Owning a Car You Don’t Need
The waste: For many urban routines, a private car is a five-figure annual burn (depreciation, interest, insurance, ERP, parking).
Fix: Design a 10-Minute Life (home–work–errands on one MRT line). Go car-free or one-car. Keep Grab for exceptions only.
2) Riding Everywhere by Habit
The waste: Two $12 rides per workday ≈ $5,760/yr.
Fix: “Two-stop rule”: walk or train for ≤2 stops; rides for rain or luggage only. Batch errands near your hub.
3) Mortgage Inertia
The waste: Not repricing/refinancing. A 0.5% rate gap on a $1.5m loan burns $7,500/yr.
Fix: Calendar a 6-monthly rate check. Negotiate with existing bank first; switch only if net savings exceed fees with a 12–18 month breakeven.
4) High-Fee Investment/Insurance Products (ILPs, pricey unit trusts)
The waste: 1.5–3% fee drags—on $200k that’s $3k–$6k/yr—compounding against you.
Fix: Buy term insurance, invest via low-cost UCITS ETFs or institutional-class funds. Pay for advice via fee-only, not embedded commissions.
5) Food Delivery & Late-Night Convenience Eating
The waste: Mark-ups + fees $6–$12/order; at 2×/week ≈ $600–$1,200/yr before pricier meal choices.
Fix: Two default home dinners a week. Bulk shop near your MRT hub. Keep 10-minute recipes on rotation.
6) Eating Out By Default (Not Choice)
The waste: Swapping a $8 home meal for a $25 dine-out is a $17 delta; 2×/week ≈ $1.5k–$2.0k/yr per person.
Fix: Make eating out event-driven (people/places), not “it’s late and I’m tired”. That’s what the 10-Minute Life prevents.
7) Boutique Gyms & Unused Memberships
The waste: $250/mo packages vs $70 public/condo options = $2,160/yr delta if you barely go.
Fix: Switch to pay-per-class or a cheaper base + outdoor runs. If you love a boutique, fine—cut something else.
8) Streaming/Subscriptions Sprawl
The waste: Five subs at ~$13 = $780/yr, often under-watched.
Fix: Rotate monthly. Family plans where possible. Audit quarterly; cancel in 2 minutes or it lingers for 2 years.
9) Overseas Spend FX & Fees
The waste: 3% FX fees on $10k travel/shop = $300/yr.
Fix: Use low-fee FX cards/wallets; withdraw once, pay digitally; avoid DCC (“Pay in SGD?” → No).
10) Over-Renovating & Gadget Churn
The waste: $20k on features with zero resale ROI; annual phone/laptop swaps for marginal gains.
Fix: “Value density” rule: spend where you spend time (bed, chair, lighting), not showpieces. Replace tech on failure or 5-year cadence.
11) Wedding/Events as Signalling Wars
The waste: Guest lists and perks that don’t change relationships, just costs.
Fix: Lunches, weekday venues, smaller circles. Direct budget to honeymoon/property fund; your future self cares more.
12) Utility & Telco Inertia
The waste: Staying on default electricity or big-telco plans can cost $200–$600/yr.
Fix: Switch to competitive retailers/MVNOs; lock promos, calendar expiry dates.
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Eliminate lifestyle waste – pick your battles
Love your car?
Keep it, but fund it by cutting three lesser leaks and repricing your mortgage.
Hardcore foodie?
Keep premium meals, but eliminate delivery drift and shrink subscriptions.
Hate admin?
Automate: calendar mortgage/telco reviews and subscription audits.
Standardise grocery lists and two default dinners.
Concluding thoughts
In SG, prices are high and conveniences are seductive.
The goal isn’t monk-like austerity; it’s cutting recurring leaks that don’t improve your life.
Do that, and you buy back time, optionality, and compounding—the real drivers of financial freedom.
Thank you for your comments. Plugging “leaks” will surprise you how with little one can live quite comfortably in Singapore. You dont need millions for retirement as some gurus say.
Avoid DCC (“Pay in SGD?” → No). Good reminder. It’s counter-intuitive to say “No”, but it’s the correct answer.