How to survive when you first working?

When you first start working, it can be a hard transition from managing an allowance to managing a proper income in thousands. Though it may seem like you just have more money to spend, there are also a lot more things you need to pay for now as a “financially independent adult”. There are many things to learn on how to budget to make sure you have enough for loans, insurance, investment and future savings. Books and articles will tell you how to budget and fully utilize your income but one thing they don’t tell you is how to be disciplined.

If you allocate a monthly budget to food expenses with the intention to save money, do you really think you will spend that little?

In Behavioral Economics, there is a term called present bias that describes how people value things now more than they would later. It is a theory that captures our tendency towards immediate gratification — something we have all been guilty of one way or another and is often the thing that derails us from our initial budget. It’s why we tend to overspend.

I spend most of my income on food so I tried to save money by cooking meals as often as I can. Every month, I tell myself I will spend only $5 on each meal but the few food choices that fit my budget are so limited that it makes it hard to stick to my budget. $5 for a meal is perfectly feasible if I cook but, who has the time? As each month passed by, I came to realize that more and more factors stood in the way of my financial goals. It’s hard to reject meeting up with friends after work. It’s hard to tell yourself not to go to that one-time Hanabi Festival at SingPost Centre. And it’s hard to say no to colleagues for dinner after work. I end up having to starve myself towards the end of the month to keep to my budget.

There will always be social pressures or lifestyle habits that tempt you spend more than you need to. I’ve learnt that being disciplined means knowing the difference between what is necessary, what is not, and how to control yourself.

So, I tried an unconventional way of budgeting using Tingkat.

I think Tingkat is a great way to save money because it means you set out a specific amount of money for dinner for the month. You know exactly how much you are spending on food and you are making yourself commit to a cheaper option (once you have spent it, you won’t want to waste it). With Le Xin Catering, I pay a fixed amount at the start of every month to get 3 dishes and a warm bowl of soup delivered to my home on weekdays. This is one of the cheapest tingkat in Singapore that provides tingkat delivery in Sinagpore no msg. I get a home cooked meal without having to bother with the hassle of cooking. In other words, I’m forcing myself to eat at home on weekdays. It helped me save money without going hungry or having to opt for smaller lunch portions.

When using healthy tingkat delivery, it doesn’t mean that I must become a social hermit because my weekends are still free to spend with my friends or family. I shared the tingkat singpore no msg with my housemates and each meal was only $5 per person. $5 for a filling dinner with 3 dishes and soup is crazy cheap compared to having dinner outside. We get to sit down together for a nice meal too and it just makes everyone feel more like family.

Ultimately, budgeting is more than just allocating money to what you need; what’s vital to achieving your financial goals is to discipline yourself and follow your budget too.