After reading this article on Asiaone, i thought it would be good to discuss about what other good savings measures that can possibly be done/adopted during this "critical period".
Fare hikes, petrol/oil increase, global raw materials cost going up and many other unmentionable inflations are causing a certain distress in most Singaporeans and i dare say, other parts of the world too. Inevitably, complaints and grouses are also increasingly heard aloud, midst coffee shop talks, day-to-day conversations and naturally, public forums.
While the Government subsidises certain cost, or that some big organisations absorbed prevailing Government Taxes, many of us still feel the pinch when we hear almost 3-4 times a month about whatever costs that may/will be up. I guess its a natural reaction becos most of us will always say our pet phrase, "everything goes up, but not our salaries".
As you are reading, you may be thinking,"Hey JJ, seems like u not affected hor? Talk as if you are so indifferent to all these incremental damages!!". Nope, you are wrong. I am also affected. If you are, I too am, and will be affected too. Lets see why:
At Work
Everyday our suppliers keep telling us," Boh pian leh! Raw material costs going up leh, everyone affected, so we also must "upped" our prices lor!" But as a service oriented company, we cant possibly be telling our esteemed clients that. If a company were to change their price tags every now and then, without warning, accrediting to the global cost increase, would you ever dare or want to collaborate with this company again? hence, so long as Leadz is able to maintain a certain profit level, we do not mind earning lesser due to increase in cost.
Also, unless the company is really not doing well or have cash flow problems, otherwise, payout to employees should never be delayed. I am proud to say that sicne the operations of Leadz, we have never delay our workers' pay. Its our little way of "thanking" the employees for their monthly hardwork. But, of cos, to ease the cashflow problem, we do delay salary payout, but only for ourselves, the employers.
So, how do Leadz practise cost savings measures? When we do order materials, we make sure we order extras, to practise economy of scales. When we have quantity, the discount levels are usually higher, hence savings. Also, if no major disruption to operations, we will rather self-collect and save on the delivery cost which is usually tagged to "increased petrol costs". Air condition is always kept at 24-25degrees cos the office is not that huge and as the experts say, 24-25degrees is the most cost efficient temperature. Above are just some ways we cut cost, without compromising too much on employees benefits.
At Home
Now, back to personal. I love cooking and even more adore the art of marketing. I have always felt that grocery shopping is even more therapeutic than materals shopping. But, due to busy work schedule, cooking is out of the question. I tend to overbuy just to cook for that one day, and would usually end up wasting the food, or that my one cooking session may jolly well cost me up to $30, which do not make economic sense. Hence, eating out is the best choice (not the healthiest thou). At the moment, food cost have not increased exorbitantly yet. So, it is still very easy to find less than $3 meal. Plus, coffee shops and food centres are so easily accessible. Of cos, outings to restaurants are reduced significantly unless its for some special occasions. But i do like to reward myself with some good food after certain hard work.
I am glad that my family is not overly pampered. I mean i have seen/heard some families who cannot live without air-con, even on rainy days. We do not on the air-con on a daily basis. I do leave one dim light, the radio and a fan on in my bedroom thru-out the night, for little daryl's benefits. I am trying to start turning off the lights once Daryl is sound asleep. If we do need to have the air-con, it will always be on a maximum of 3 hours timer, and at 24-25 degrees.
As for TV, i am ashamed to say, it will always be on, from 8.30pm to 1am, nightly. I guess its time to reduce the nos. of hours spent in front of the TV. That way, the whole family can also turn in earlier, hence healthier and also cutting more cost cos all lightings will be off then.
My grocery is done on a monthly basis, and now, we try very much to use house-brands cos it usually means an average of 5% off the item. Isnt that great savings? While certain things like milk powder are the cost killer, my family tries to reduce the frequency to buy, but not compromising on Daryl's growth developments. We used to let him have a mix of his formula milk and milo powder. Healthy with choco flavour!! We arent really brand loyal, so whatever shampoo/baths on discounts, we will buy them and during mega sales, we do buy more to stock up.
I guess, our highest expenses are mainly our transport cost. Petrol cost is forever tentative. Its "forever" rising and even if it reduces, its usually a 1% reduction of what 100% increase. I rem years ago, one full tank for a 1.5litres was only less than $50, and now, its never below $70. Hence, if I needed to be out with hb, and while waiting for him to finish his errands, i would wind down all 4 windows, and stopped the car totally. But i needed my music! So how? hehehe, i listen to FM on my mobile phone. Guess, all these little ways will help to save cost as well as be more environmentally friendly.
End of the day, prices will still be on the rise, but whatever little ways we can save, we will save. But then again, I am also not encouraging everyone to turn into misers or scrooges. Its all about sensible savings.
Lets start practising to be frugal from today onwards! :)
Fare hikes, petrol/oil increase, global raw materials cost going up and many other unmentionable inflations are causing a certain distress in most Singaporeans and i dare say, other parts of the world too. Inevitably, complaints and grouses are also increasingly heard aloud, midst coffee shop talks, day-to-day conversations and naturally, public forums.
While the Government subsidises certain cost, or that some big organisations absorbed prevailing Government Taxes, many of us still feel the pinch when we hear almost 3-4 times a month about whatever costs that may/will be up. I guess its a natural reaction becos most of us will always say our pet phrase, "everything goes up, but not our salaries".
As you are reading, you may be thinking,"Hey JJ, seems like u not affected hor? Talk as if you are so indifferent to all these incremental damages!!". Nope, you are wrong. I am also affected. If you are, I too am, and will be affected too. Lets see why:
At Work
Everyday our suppliers keep telling us," Boh pian leh! Raw material costs going up leh, everyone affected, so we also must "upped" our prices lor!" But as a service oriented company, we cant possibly be telling our esteemed clients that. If a company were to change their price tags every now and then, without warning, accrediting to the global cost increase, would you ever dare or want to collaborate with this company again? hence, so long as Leadz is able to maintain a certain profit level, we do not mind earning lesser due to increase in cost.
Also, unless the company is really not doing well or have cash flow problems, otherwise, payout to employees should never be delayed. I am proud to say that sicne the operations of Leadz, we have never delay our workers' pay. Its our little way of "thanking" the employees for their monthly hardwork. But, of cos, to ease the cashflow problem, we do delay salary payout, but only for ourselves, the employers.
So, how do Leadz practise cost savings measures? When we do order materials, we make sure we order extras, to practise economy of scales. When we have quantity, the discount levels are usually higher, hence savings. Also, if no major disruption to operations, we will rather self-collect and save on the delivery cost which is usually tagged to "increased petrol costs". Air condition is always kept at 24-25degrees cos the office is not that huge and as the experts say, 24-25degrees is the most cost efficient temperature. Above are just some ways we cut cost, without compromising too much on employees benefits.
At Home
Now, back to personal. I love cooking and even more adore the art of marketing. I have always felt that grocery shopping is even more therapeutic than materals shopping. But, due to busy work schedule, cooking is out of the question. I tend to overbuy just to cook for that one day, and would usually end up wasting the food, or that my one cooking session may jolly well cost me up to $30, which do not make economic sense. Hence, eating out is the best choice (not the healthiest thou). At the moment, food cost have not increased exorbitantly yet. So, it is still very easy to find less than $3 meal. Plus, coffee shops and food centres are so easily accessible. Of cos, outings to restaurants are reduced significantly unless its for some special occasions. But i do like to reward myself with some good food after certain hard work.
I am glad that my family is not overly pampered. I mean i have seen/heard some families who cannot live without air-con, even on rainy days. We do not on the air-con on a daily basis. I do leave one dim light, the radio and a fan on in my bedroom thru-out the night, for little daryl's benefits. I am trying to start turning off the lights once Daryl is sound asleep. If we do need to have the air-con, it will always be on a maximum of 3 hours timer, and at 24-25 degrees.
As for TV, i am ashamed to say, it will always be on, from 8.30pm to 1am, nightly. I guess its time to reduce the nos. of hours spent in front of the TV. That way, the whole family can also turn in earlier, hence healthier and also cutting more cost cos all lightings will be off then.
My grocery is done on a monthly basis, and now, we try very much to use house-brands cos it usually means an average of 5% off the item. Isnt that great savings? While certain things like milk powder are the cost killer, my family tries to reduce the frequency to buy, but not compromising on Daryl's growth developments. We used to let him have a mix of his formula milk and milo powder. Healthy with choco flavour!! We arent really brand loyal, so whatever shampoo/baths on discounts, we will buy them and during mega sales, we do buy more to stock up.
I guess, our highest expenses are mainly our transport cost. Petrol cost is forever tentative. Its "forever" rising and even if it reduces, its usually a 1% reduction of what 100% increase. I rem years ago, one full tank for a 1.5litres was only less than $50, and now, its never below $70. Hence, if I needed to be out with hb, and while waiting for him to finish his errands, i would wind down all 4 windows, and stopped the car totally. But i needed my music! So how? hehehe, i listen to FM on my mobile phone. Guess, all these little ways will help to save cost as well as be more environmentally friendly.
End of the day, prices will still be on the rise, but whatever little ways we can save, we will save. But then again, I am also not encouraging everyone to turn into misers or scrooges. Its all about sensible savings.
Lets start practising to be frugal from today onwards! :)
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