Pocket Money - How much is enough?

Last edited on 22 Feb 2016
The average Singaporean Polytechnic student receives $300 from their parents to cover their daily expenses. The question is, is it enough?

Let’s try to break down their expenses. In a month, the essential and typical expenditures include :

Transport : $51 for a hybrid concession pass
Meals     : $8 a day for 20 days, total of $160
Weekly movie : $10 for a ticket and half a popcorn combo (shared with friends), total of $40
Occasional weekend out : $7 per fast food meal, twice a month, total of $14

That’s a total of $265 just for basic expenses.

That would mean there’s only $35 left for an entire month.

It even excludes any other miscellaneous expenses (and there will definitely be miscellaneous expenses such as books, stationery, printing notes, etc.) that can easily amount to more than $35!

Saving up for that backpack or the pair of Nike shoes is nearly impossible! So, is $300 of pocket money really enough for a student in poly? You can probably answer that yourself.

Well, what if you don't have enough? You can either cut back, or simply make more money.

Cutting back sounds difficult, but hear me out. Before spending your money on anything, spend 5 minutes on your phone to search for discount codes. There are many apps and websites out there that offers good deals and discounts when you use their service. This will help you spend less and save more.

Not only that, fully utilise your student status! There are plenty of student deals and offers out there that you can definitely make use of. Remember to bring your student card when you go out, and plan your outings so that you’ll be at the right time and place to benefit from your student status.

What about make more money? That surely sounds more lucrative than cutting back. But how? You could sell something, maybe something pre loved or handmade. There are apps out there that makes selling things super easy and convenient, and you get to use it for free!

Well... As great as that sounds, sooner or later you will run out of things to sell. What then?

You can always do it the tried and tested way— by working. Trading some of your time for money doesn’t sound so bad, right? Working part time while studying can actually be much easier than it sounds. Here, let me do the math. 

Let’s say you can only work one weekday night a week, and on both weekends :

4 Fingers (6pm to 10pm, Saturdays and Sundays) = $8 * 4 hours * 8 days a month = $256

Kim's Place (5pm to 10pm, one weekday a week) = $8 * 5 hours * 4 days a month = $160

Total Extra = $416

Just by working 13 hours a week, you now have $716 instead of $300 to spend each month! This definitely puts working part time into perspective.

Ready to double up your pocket money? Awesome! Start by getting your shift based jobs here today!

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