3 Must-Know’s To Save That Extra Dollar Online For Singaporean Millennials
A recent study concluded that over 80% of millennial young adults make an online purchase once every week. With those staggering figures, one must wonder are there ways to better ‘game the system’ and save that extra few dollars per purchase! Here are some handy tips that the Seedly team has sworn by over the years.
Rebates and Cashbacks!
Honestly, to understand why rebates yield results, one will have to understand the background of how they work. Its really simple – “Affiliate marketing”. Imagine you introduce ‘John’ who is selling apples, to ‘Mary’ and he makes $200 from the sale. After that ‘John’ passes you $100 to thank you for the introduction. You then pass ‘$50′ back to Mary as token to for using you as an introductory friend. Thats really it! And it works… For example, personally I have saved over $500 on cashbacks via online shopping at ZALORA, agoda, Lazada and many other online stores.
Outwit the smart online price traps!
Have you always noticed that when you have visited an online store, you get different prices on different occasions? Dynamic pricing is a sneaky strategy online merchants offer use to show different prices to different customers according to your location, your browsing and spending patterns and current demand of the product. Have you ever found cheap hotel rooms that went 20% higher when you checked the next day? That’s simply dynamic pricing in action. Singapore = wealthy and rich spenders.
To get a less biased price you should:
- Clear your browsing history and cookies in particular
- Switch to incognito mode on Google Chrome
- Log out of your accounts (email, G+, Facebook etc) and relaunch browser
- Choose localized website versions and potentially use a VPN to get you to a less developed country.
- When searching for airfare, select a less develop country as ‘home’
Join a mailing list and plan ahead!
This is a win-win situation for all parties. For you as a consumer, you get the direct first news when special events and flash sales are about to happen. And get the first dibs on the best deals that company “A” has to offer. For them as a business, it gives them a way of potentially getting to the right users with latest deals.
One particular one that I love, are airfare deals. In Singapore, Scoot often has special deals on every single public holiday. For example, on Valentine’s day in 2015, I managed to get a round trip ticket to Gold Coast at only $200, which was a third of what it would have sold on a normal day.
Get a personal finance tool to track your online spending. As far as we know, as Millennials ourselves, online spending tends to go out of hand. And it is good to know where your hard earned savings are going to. If you are into the nitty-gritty details and are super disciplined, use Wally or Pocket Expense that you can spend hours manually logging and understanding your finance.
Or if you are like the rest of us, Singaporeans, you would ideally want something automated, and simple to understand, try out Seedly – Singapore’s easiest personal finance tool that does all the work for you, so you can have a good night’s sleep.
Happy saving! – Team Seedly