How I saved 30k and paid off my debt

Being young and in debt is not 👎 a good idea. But university education is expensive, and just like many Singaporeans, I took a student loan 4 years ago 📚

4 years later, I’ve managed to successfully earn and save enough such that I can pay off my 30k debt before the interest kicks in 🎉.

Definitely not easy, but doing these things have helped make the journey so much easier.

1️⃣ Side Hustle

✨ If you want to save more, you gotta earn more ✨

It was definitely not realistic to work a full time job, so my side business contributed to most of my income. It was tough in the beginning but as things begun to pick up, I was earning a very solid income monthly.

🌟 Some side hustles to consider:

Running a business

Giving tuition

Part time jobs

🌟 Types of businesses you can do:

Lash business

Clothing brand

Providing a service

Consumer goods (my pick)

2️⃣ Budget

✨ Clubbing? Fancy restaurants? Go ahead but make sure to allocate resources towards it ✨

I don’t advocate for extreme measures like instant noodles daily or scrimping and saving to the point where you feel life is meaningless.

I still have social life, I still eat nice food, buy nice clothes. I just make sure to allocate money into this monthly so that I can satisfy my wants 😀

thrifting was a good way to spend less than my budget as well. I like to check out clothes at Refash, carousell, even my textbooks I sourced them on carousell as well.

3️⃣ Wait it out

🚫 I see it, I buy it 🚫

This is also another money saving tip. I used to buy things the first time I see it. However, after buying it, I realised it was quite an impulse buy and I don’t actually need it

Thus, I now wait 1-2 weeks and if I still like it, I will consider going back to the store to buy it. Or I will KIV it in my list of things I am looking for and check and see if it is available on carousell 😉

Hope these tips were helpful to you! Do follow me for more of such tips! I share more about my biz & uni life 🙂

#OnlyInSG #university #moneytips