10 Things in Singapore No Longer Worth Your Money
SINGAPORE BLOGSINGAPORE FINANCE NEWS
7/12/20265 min read
Singapore is known for its vibrant culture, stunning skyline, and delicious food. However, it’s also infamous for its high cost of living. As a resident, I’ve noticed that even the small things that used to be affordable are now becoming increasingly expensive. In this blog post, I’ll share with you the ten things in Singapore that I believe are no longer worth your money, along with some budget-friendly alternatives that can help you save. Let’s dive in!
1. Traditional Kaya Toast
Kaya toast is a beloved breakfast staple in Singapore, but the prices have skyrocketed. A traditional kaya toast set at popular chains like Ya Kun or Toast Box can cost around $7 for just two eggs, some bread, and a coffee. This is quite shocking when you consider that you can get a full breakfast meal at McDonald's for just $5 to $6.
Many people have expressed their outrage over these prices online, yet these cafes remain crowded. It’s a classic case of supply and demand, but I can’t help but feel embarrassed that our national breakfast has become more expensive than a meal at a global fast-food chain.
Alternative:
Instead of splurging on kaya toast, consider grabbing a breakfast meal at McDonald's. Not only is it cheaper, but it can also be more filling and healthier.
2. Food Delivery and Grab Rides
Food delivery services and ride-hailing apps like Grab have become increasingly expensive. After the pandemic, new fees have been introduced, such as small order fees and surge pricing during peak hours. I often find myself paying $20 for an $8 meal, which is just not worth it.
Moreover, Grab rides have become less reliable, with the app often showing misleading wait times. The dynamics of these apps seem to favor the companies rather than the consumers, making it frustrating to use them.
Alternative:
For food delivery, consider cooking at home or using a car-sharing app like GetGo, which offers more transparent pricing and better availability.
3. Bubble Tea
Bubble tea used to be an affordable treat, but now it can cost up to $6 per cup. While the quality of ingredients has improved, the complexity of the menu has also increased, making it feel more like a science experiment than a simple drink.
As someone who used to enjoy bubble tea regularly, I find it hard to justify the price when I can get a nice cappuccino at Starbucks for the same amount.
Alternative:
Instead of bubble tea, opt for a coffee at a local café where you can enjoy a comfortable atmosphere and free Wi-Fi.
4. Clubbing
Clubbing in Singapore has transformed from an affordable night out to an expensive affair. Once upon a time, you could enjoy a drink for just $4, but now clubs often require bottle service, costing at least $200 for a basic bottle.
Many younger people, especially Gen Z, are opting out of clubbing altogether, and I can understand why. Spending so much money for a night out where you can barely hear your friends is not appealing.
Alternative:
Instead of clubbing, consider taking a weekend trip to Johor Bahru (JB) where you can enjoy a full day of meals and accommodation for the same price as a night out in a club.
5. Overpriced Banking and Investment Options
As someone passionate about personal finance, I’ve seen how investment fees have increased over the years. Traditional brokerage accounts often charge high fees, which can eat into your returns.
Recently, I discovered Longbridge, a MAS licensed entity that offers zero commission on trades and attractive welcome rewards. This has completely changed my perspective on investing.
Alternative:
Explore low-fee investment platforms like Longbridge to maximize your returns without the burden of high fees. You can sign up here to take advantage of their promotions.
6. Private Gym Memberships
Gym memberships have become increasingly expensive, with many high-end gyms raising their fees annually without improving their facilities. I’ve experienced this firsthand with various gyms I’ve joined over the years.
Many gyms also face the risk of closing down unexpectedly, leaving members in a lurch.
Alternative:
Consider using ActiveSG gyms, which are government-run and offer affordable rates. The price for entry has remained at $2.50 for years, making it a great option for budget-conscious fitness enthusiasts.
7. Pasar Malam Food
Pasar malam, or night markets, used to be a treasure trove of affordable street food. However, I was shocked to find that prices have risen significantly, often exceeding those in food courts.
For example, a small chicken kebab can cost $6, and a Ramly burger can go for $5. With the high prices and lack of air conditioning, it’s hard to justify these costs.
Alternative:
Instead of pasar malam food, consider visiting a local prata shop where you can enjoy a meal for a fraction of the price.
8. Cinema Tickets
Cinema ticket prices have also seen a significant increase, with weekend tickets costing around $16. When you factor in the cost of snacks, a night out at the movies can quickly add up.
What frustrates me the most is the convenience fee charged for online ticket purchases, which seems counterintuitive.
Alternative:
Instead of going to the cinema, consider subscribing to streaming services like Netflix or watching content on YouTube, which is free and supports local creators.
9. Extremely Overpriced Mooncakes
Mooncakes have become a commercialized phenomenon, with prices reaching up to $100 for a box of four. This is a stark contrast to their humble origins, and it feels like a marketing ploy to capitalize on gifting culture.
During the Mid-Autumn Festival, I used to spend a fortune on mooncakes for clients, only to see them discarded later. It’s a waste of money and resources.
Alternative:
Instead of gifting mooncakes, consider giving cash vouchers from NTUC or Sheng Siong, which are much more appreciated and practical.
10. Calbee Hot and Spicy Potato Chips
Lastly, let’s talk about my childhood favorite: Calbee Hot and Spicy Potato Chips. Unfortunately, due to shrinkflation, the quantity has decreased while the price remains the same. It’s disheartening to pay $2.40 for a bag that’s mostly air.
Instead of splurging on these chips, I’ve started buying house brands from NTUC, which are cheaper and often just as tasty.
Alternative:
Explore local supermarkets for house brands or budget-friendly snacks that offer better value for your money.
Conclusion
In conclusion, Singapore is a beautiful city with a high cost of living, but it’s essential to be mindful of where we spend our money. By being aware of the things that are no longer worth it, we can make smarter financial decisions and find better alternatives.
Have you stopped buying anything in Singapore because it’s no longer worth it?
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