Smart Student Savings Guide: Have Fun With Funds

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Smart student savings guide

From sharing upsized meals to scouting deals at warehouse sales, students are often resourceful in making the best of their limited pocket money. If you are a tertiary or university student in Singapore, you may find some of these simple yet fool proof money-saving tips useful. Join us in relooking at your current resources and formulate the ultimate saving plan to make better use of your money. Read on!

Use your student card

Being a student has its perks! Your student card is your access to all-you-can-eat student buffets, lunch/beverages promos, discount tours, attractive tickets, etc. By saving on the daily essentials and entertainment, you can maximise the use of your allowance.

So, bring your student card everywhere to enjoy these student perks. Also, keep in mind the saying, “Ask and you shall receive”. Buck up your courage and ask nicely for student discounts, you may be surprised.

Buy and sell your belongings

A collection of books and camera on a shelfImage credits: Pexels

Make the most of your used textbooks by selling them if you no longer need them. By doing so, you’d have some extra allowance to buy the books that you’d need for the new semester. Buying second-hand textbooks instead of new ones can help you save yet another round!

Don’t stop at used textbooks though. It may be good to Marie Kondo your room occasionally. Declutter and sell off items that you have outgrown (e.g. off-season clothes, bags, collectibles, etc.) for some pocket money. Some of the major online shopping platforms include Lazada, Carousell and Shopee Not convinced? This lady used Carousell to fund her wedding!

Earn on the side

A barista making a cup of coffee in a busy cafeImage credit: Unsplash

For the fortunate ones, you’d probably be receiving monthly allowances from doting parents but who would not want more money? Getting a part-time job can earn you extra pocket money, gain experience and acquire life skills. If you enjoy visiting hipster cafes, why not take up a part-time job in a coffee place and gain barista’s experience?

Despite the pandemic crisis, some 5,400 jobs in food services and food manufacturing have been available since April under the SGUnited Jobs and Skills Package, and training courses are available too. Earning the extra income can also help your parents to ease household expenses.

According to job ads seen on Indeed, salary for part-time work are about S$8 to S$12 per hour on average, depending on industry and work scope. Presuming you earn S$12 per hour and work at least 20 hours per week during the school holidays, that would mean S$960 in a month!

Grow your money and get protection

A young woman smiling brightlyImage credit: Unsplash

An insurance savings plan like the flexible ELASTIQ^ can help you grow your savings at 1.80% p.a. for the first three years. This means that if you save S$5,000 with ELASTIQ, you shall earn S$90 in the first year. That’s equivalent to 3 cups of bubble tea per month!

Unlike some insurance savings plans that have a strong hold on your money, ELASTIQ allows top ups or withdrawals after 90 days with no penalty or interest clawback. This means that you can have fast and easy access to your money in the event that you need cash (e.g. travel funds for overseas student exchange). You can make partial withdrawals without worrying about penalty. The remaining funds in your account will continue to accumulate interests.

ELASTIQ also provides life coverage with death benefit at 106.8% of account value. In light of the novel coronavirus pandemic, Etiqa Insurance is also providing all life insured policyholders, and yes, if you have ELASTIQ, you are eligible for this benefit.

What’s the catch? Well, the tranche is limited, and availability is based on a first come, first serve basis. If you are unable to get ELASTIQ in time, you can check out our new all-in-one insurance tool, GIGANTIQ that offers attractive returns with no lock-in period. Learn more here

#TiqOurWord Have more to invest? Check out Tiq 3-Year Endowment Plan, a short-term insurance savings plan that offers high guaranteed returns of 1.68% p.a. at maturity.

Don’t underestimate promo and referral codes

A good saving plan includes using promo code Image credit: Unsplash

Making purchases online is quick, convenient and sometimes cheaper. A quick web search can help you find promo codes that can translate to significant accumulated savings. Sometimes, these promo codes work offline as well. Just the other day, I was at a KFC joint and it suddenly struck me that I should look for promo codes before purchasing my takeaway meal from the self-service kiosk. A quick visit to the KFC website helped me to almost 50%! on the Zinger burger and all I did was to use the coupon code!

In addition to cyber security, did you know that by clearing your web browser’s cookies and cache can ensure you get the best prices on certain sites? This is because it will appear as if it’s your first time visiting these sites, and you’re likely to see much better prices.

The poor students’ money woes

Being a student has its perks indeed, but it can also be challenging. How can you not be broke and still have a fun and balanced life? At the end of the day, it boils down to maximising your resources, stretching your dollar and living within your means. All the best!


Information is accurate as of 5 January 2021. This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Tiq by Etiqa Insurance Pte. Ltd.

A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.

With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.

Discover the full range of Tiq online insurance plans here.



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