1 00:00:00,000 --> 00:00:02,340 Speaker 1: This is a C. N. A. Podcast. 2 00:00:04,280 --> 00:00:08,960 Speaker 1: What is your top grocery shopping hack house friends? 3 00:00:09,869 --> 00:00:14,260 Speaker 1: I knew you were gonna say that vitamins, cotton pads, tissues, 4 00:00:14,270 --> 00:00:17,130 Speaker 1: good variety at more affordable prices. 5 00:00:33,540 --> 00:00:37,080 Speaker 1: Hi there. Welcome to money talks. I'm Andrea hing now. 6 00:00:37,080 --> 00:00:40,700 Speaker 1: Are you paying $2 to $3 more for your favorite 7 00:00:40,700 --> 00:00:44,140 Speaker 1: brand of grapes at the supermarket? I'm here to tell 8 00:00:44,140 --> 00:00:46,800 Speaker 1: you it is certainly not an illusion. 9 00:00:46,940 --> 00:00:49,670 Speaker 1: I know I've been forking out more for my own 10 00:00:49,670 --> 00:00:52,820 Speaker 1: daily necessities and my bill at the end of the month. 11 00:00:52,830 --> 00:00:56,240 Speaker 1: It is higher than I've remembered it. The reality is 12 00:00:56,250 --> 00:01:00,500 Speaker 1: we are in an unprecedented time. Food prices are soaring. 13 00:01:00,500 --> 00:01:04,400 Speaker 1: Worldwide inflation is at a record high and G. S. T. 14 00:01:04,400 --> 00:01:09,650 Speaker 1: Has kicked in here in Singapore. Food prices increased by 7.5. 15 00:01:09,665 --> 00:01:14,155 Speaker 1: 5% year on year in December of 2022. That's the 16 00:01:14,155 --> 00:01:19,715 Speaker 1: highest increase since 2008. Everything from bread to meat and 17 00:01:19,715 --> 00:01:23,475 Speaker 1: dairy products, eating out has also become more expensive. So 18 00:01:23,475 --> 00:01:26,745 Speaker 1: what do we do? Do we scrimp on quality? Do 19 00:01:26,745 --> 00:01:30,785 Speaker 1: we treat ourselves less? Do we buy fewer things? How 20 00:01:30,785 --> 00:01:32,375 Speaker 1: do we stretch our dollar? 21 00:01:32,580 --> 00:01:36,420 Speaker 1: I have now Don. She is the author of personal 22 00:01:36,420 --> 00:01:40,500 Speaker 1: finance blog. S. G. Budget babe. Hey Don, welcome to 23 00:01:40,500 --> 00:01:43,550 Speaker 1: Ciena's money talks podcast. Good to have you with us. 24 00:01:43,560 --> 00:01:46,530 Speaker 1: Hi Andrew. Thanks for having me back. All right, let 25 00:01:46,530 --> 00:01:49,210 Speaker 1: me just ask you a quick question. How much more 26 00:01:49,210 --> 00:01:52,270 Speaker 1: are you paying for your favorite fruit nowadays? Are you 27 00:01:52,270 --> 00:01:53,580 Speaker 1: griping like I am 28 00:01:53,900 --> 00:01:56,890 Speaker 1: to be honest I haven't really been tracking but I 29 00:01:56,890 --> 00:02:00,790 Speaker 1: have realized that my grocery bills are now coming in 30 00:02:00,790 --> 00:02:04,130 Speaker 1: at a much higher number on average, maybe in Q 31 00:02:04,130 --> 00:02:07,309 Speaker 1: one Q two last year, my grocery abuse each trip 32 00:02:07,320 --> 00:02:10,170 Speaker 1: every fortnight would probably sent me back like by 100 33 00:02:10,169 --> 00:02:13,320 Speaker 1: plus at most would be low 200 that's enough to 34 00:02:13,320 --> 00:02:16,210 Speaker 1: feed my family for two weeks, right? But nowadays it's 35 00:02:16,210 --> 00:02:18,590 Speaker 1: locking more towards like 200 plus and 36 00:02:18,605 --> 00:02:21,385 Speaker 1: A recent one was even 300 plus. So I don't 37 00:02:21,385 --> 00:02:23,575 Speaker 1: know for sure if it was an individual like items 38 00:02:23,575 --> 00:02:26,265 Speaker 1: that went up in price tech, but I'm pretty sure 39 00:02:26,264 --> 00:02:29,555 Speaker 1: it wasn't us buying significantly more because we're still more 40 00:02:29,555 --> 00:02:32,214 Speaker 1: or less in the same habits. Okay, so when did 41 00:02:32,215 --> 00:02:35,855 Speaker 1: it first hit you that food prices specifically in Singapore 42 00:02:35,855 --> 00:02:38,864 Speaker 1: have gotten more expensive. Was there like a particular item 43 00:02:38,865 --> 00:02:43,295 Speaker 1: or a moment that made you go, Oh inflation is here. 44 00:02:43,610 --> 00:02:47,410 Speaker 1: Um Two moments actually the first one came with Oy 45 00:02:47,419 --> 00:02:50,200 Speaker 1: I guess like reading all the news about the oil 46 00:02:50,200 --> 00:02:54,120 Speaker 1: crisis and the Ukraine war exacerbating things. I started realizing 47 00:02:54,120 --> 00:02:57,230 Speaker 1: that my sp group monthly bill, you can see how 48 00:02:57,230 --> 00:03:00,820 Speaker 1: much your electricity kilowatt hour is charged, right? And I 49 00:03:00,820 --> 00:03:03,300 Speaker 1: started seeing like it used to be 0.2 something and 50 00:03:03,300 --> 00:03:05,680 Speaker 1: now it was like 0.3 something and I was like wow, 51 00:03:05,680 --> 00:03:08,579 Speaker 1: that's a significant change. And then after that you got 52 00:03:08,580 --> 00:03:11,240 Speaker 1: those letters by sp saying like for those of you 53 00:03:11,240 --> 00:03:12,130 Speaker 1: who are on wholesale, 54 00:03:12,141 --> 00:03:14,791 Speaker 1: you might want to switch to fix because prices are 55 00:03:14,791 --> 00:03:17,881 Speaker 1: volatile and you could be hit by an unexpected view. 56 00:03:17,881 --> 00:03:20,441 Speaker 1: You don't switch. So yeah, that, that certainly triggered like, 57 00:03:20,441 --> 00:03:23,521 Speaker 1: oh dear, is it really getting that bad? Right. The 58 00:03:23,520 --> 00:03:26,001 Speaker 1: second moment I think was really like, we don't track 59 00:03:26,011 --> 00:03:28,681 Speaker 1: exact line expenses anymore. I used to do that a 60 00:03:28,681 --> 00:03:30,430 Speaker 1: lot when I was in my twenties, but I think 61 00:03:30,441 --> 00:03:32,971 Speaker 1: reality is once you have kids, it's kind of difficult 62 00:03:32,981 --> 00:03:37,351 Speaker 1: to keep up that habit. Yeah. So what I realized 63 00:03:37,351 --> 00:03:39,681 Speaker 1: was that like we don't really count how often we 64 00:03:39,681 --> 00:03:40,611 Speaker 1: eat out, right? But in the, 65 00:03:40,672 --> 00:03:43,312 Speaker 1: because I would say we keep our dining out expenses, 66 00:03:43,312 --> 00:03:47,222 Speaker 1: it shouldn't be more than 1000 month. But lately it's 67 00:03:47,222 --> 00:03:49,682 Speaker 1: been like a lot more than that. Even when you 68 00:03:49,682 --> 00:03:52,552 Speaker 1: go to places where you think are cheaper, like, you know, 69 00:03:52,552 --> 00:03:55,622 Speaker 1: maybe pepper lies, you wouldn't consider that super attacks, right? 70 00:03:55,632 --> 00:03:59,362 Speaker 1: It's quite meet scale, medium kind of lifestyle, Even a 71 00:03:59,362 --> 00:04:01,992 Speaker 1: meal for the family that can now set close to 72 00:04:02,002 --> 00:04:05,722 Speaker 1: almost 100 already. So we're like, hey, when eating out 73 00:04:05,722 --> 00:04:08,262 Speaker 1: becomes so expensive and I didn't really have an exact sense, 74 00:04:08,262 --> 00:04:09,190 Speaker 1: but then I started talking to 75 00:04:09,203 --> 00:04:11,973 Speaker 1: my friends and I was like, I also feel that 76 00:04:11,983 --> 00:04:14,483 Speaker 1: like suddenly dining out has become a lot more pricey 77 00:04:14,493 --> 00:04:16,702 Speaker 1: and they were like, yeah, I mean we didn't track 78 00:04:16,713 --> 00:04:19,323 Speaker 1: exact amount as well, but we are getting that sense. 79 00:04:19,323 --> 00:04:21,183 Speaker 1: We're also now starting to think whether we should cut 80 00:04:21,193 --> 00:04:23,462 Speaker 1: that dining out. I was like, yeah, I think it's 81 00:04:23,463 --> 00:04:27,433 Speaker 1: about like across the board. Yeah, absolutely, I mean, I 82 00:04:27,433 --> 00:04:30,743 Speaker 1: started feeling the same way also because I felt like, okay, 83 00:04:30,753 --> 00:04:32,972 Speaker 1: I think we really need to cut back on dining 84 00:04:32,973 --> 00:04:35,472 Speaker 1: out and not just that, but like ordering in as 85 00:04:35,473 --> 00:04:37,720 Speaker 1: well because those are already marked up prices. 86 00:04:37,734 --> 00:04:40,204 Speaker 1: I felt like, okay, you know what, let's just do 87 00:04:40,204 --> 00:04:43,154 Speaker 1: more groceries, prepare more meals at home, try and really 88 00:04:43,154 --> 00:04:46,393 Speaker 1: save on the bigger dollars here. Just out of curiosity, 89 00:04:46,394 --> 00:04:48,054 Speaker 1: how many people are there in your family when you 90 00:04:48,053 --> 00:04:51,354 Speaker 1: say you're feeding your family and the bill comes up 91 00:04:51,354 --> 00:04:54,974 Speaker 1: to 100 plus, it's for dining out, usually it is 92 00:04:54,984 --> 00:04:58,604 Speaker 1: anywhere between 3 to 4 adults and 1 to 2 kids. 93 00:04:58,613 --> 00:05:00,304 Speaker 1: So it depends on whether or not we bring both 94 00:05:00,303 --> 00:05:02,304 Speaker 1: kids out as well as whether my in laws come along, 95 00:05:02,314 --> 00:05:04,883 Speaker 1: but otherwise you are the norm that we're talking about, 96 00:05:04,894 --> 00:05:06,250 Speaker 1: it's pretty average, 97 00:05:06,395 --> 00:05:09,825 Speaker 1: like usually you would spend say 10 plus per person 98 00:05:09,825 --> 00:05:13,245 Speaker 1: at a median outlet. Now it's closer to like 20 99 00:05:13,245 --> 00:05:16,154 Speaker 1: per person, even at a median kind of tended outlet 100 00:05:16,165 --> 00:05:20,175 Speaker 1: when you go for slightly more, not even just slightly 101 00:05:20,175 --> 00:05:23,484 Speaker 1: more of a treat, kind of places like what the 102 00:05:23,485 --> 00:05:26,735 Speaker 1: view is a lot higher, it's explosively higher. In fact, 103 00:05:26,735 --> 00:05:29,625 Speaker 1: I just had coffee downstairs and I have never in 104 00:05:29,625 --> 00:05:34,779 Speaker 1: my life paid $9.80 for coffee. It's crazy. So 105 00:05:34,796 --> 00:05:38,756 Speaker 1: yeah, we were talking about how you don't do line 106 00:05:38,755 --> 00:05:41,075 Speaker 1: tracking anymore when you track your expenses for your family. 107 00:05:41,076 --> 00:05:44,126 Speaker 1: So how exactly are you tracking expenses for your family 108 00:05:44,126 --> 00:05:46,635 Speaker 1: and how much you spend? What's your current method now? 109 00:05:46,646 --> 00:05:50,246 Speaker 1: I think managing for individuals versus households is very different. 110 00:05:50,246 --> 00:05:52,416 Speaker 1: You start to be hit by lack of time and 111 00:05:52,426 --> 00:05:54,476 Speaker 1: energy to start tracking all these when you have more 112 00:05:54,476 --> 00:05:56,876 Speaker 1: commitments on your plate. So what I find works best 113 00:05:56,876 --> 00:05:59,776 Speaker 1: now is making sure whatever amount we have set aside 114 00:05:59,776 --> 00:06:02,216 Speaker 1: for that month, once we start to go low or 115 00:06:02,216 --> 00:06:03,310 Speaker 1: we have to top up right 116 00:06:03,327 --> 00:06:06,296 Speaker 1: now, just vaguely keep track. We top up like quite 117 00:06:06,297 --> 00:06:08,486 Speaker 1: a few times this month or like, okay, I think 118 00:06:08,487 --> 00:06:10,816 Speaker 1: the amount has to go up or if I'm giving 119 00:06:10,817 --> 00:06:13,827 Speaker 1: my helper money to go down and do marketing right, 120 00:06:13,837 --> 00:06:15,687 Speaker 1: how could she suddenly seems to be asking me for 121 00:06:15,687 --> 00:06:18,397 Speaker 1: marketing money more often than in the past. So it's 122 00:06:18,397 --> 00:06:22,606 Speaker 1: like getting that sense rather than an exact amount already. Yeah, 123 00:06:22,617 --> 00:06:24,267 Speaker 1: the easiest way for couples who want to be a 124 00:06:24,267 --> 00:06:27,077 Speaker 1: bit more diligent on that. The easiest way is really 125 00:06:27,077 --> 00:06:30,267 Speaker 1: to transfer yourself a set amount of household budget each 126 00:06:30,267 --> 00:06:31,839 Speaker 1: month and then seeing how much 127 00:06:31,858 --> 00:06:33,728 Speaker 1: shoot it up from there and you can also separate 128 00:06:33,728 --> 00:06:37,207 Speaker 1: between one account for fixed views versus another for like 129 00:06:37,218 --> 00:06:39,788 Speaker 1: not fixed ones where you can have a bit more flexibility, 130 00:06:39,788 --> 00:06:43,468 Speaker 1: including your groceries. So that's an easy method for people 131 00:06:43,468 --> 00:06:45,248 Speaker 1: to do if they no longer have time to do 132 00:06:45,248 --> 00:06:48,517 Speaker 1: line tracking. That's a great tip actually because like you said, 133 00:06:48,517 --> 00:06:51,248 Speaker 1: not everyone has the luxury of time to really track 134 00:06:51,248 --> 00:06:55,128 Speaker 1: every single expense that's coming out of the account for example. 135 00:06:55,128 --> 00:06:57,898 Speaker 1: So just having an overview of what kind of movements 136 00:06:57,898 --> 00:06:59,618 Speaker 1: you're seeing in your bank account is a good way 137 00:06:59,618 --> 00:07:00,388 Speaker 1: to start. 138 00:07:00,690 --> 00:07:03,610 Speaker 1: So we talked about how eating out has become more 139 00:07:03,610 --> 00:07:07,330 Speaker 1: expensive now and you mentioned your helper asking you for 140 00:07:07,330 --> 00:07:11,490 Speaker 1: marketing allowances more frequently, for example, have you noticed if 141 00:07:11,490 --> 00:07:15,540 Speaker 1: there were specific items, perhaps specific food items that have 142 00:07:15,550 --> 00:07:18,000 Speaker 1: gone up in price 143 00:07:18,230 --> 00:07:22,320 Speaker 1: eggs for sure. I remember it being a lot cheaper 144 00:07:22,320 --> 00:07:24,640 Speaker 1: in the past, but it seems like now we have 145 00:07:24,640 --> 00:07:26,540 Speaker 1: to buy really in bulk and when I think about, 146 00:07:26,540 --> 00:07:31,220 Speaker 1: I mean 30 not 10 the brown trays. Right? Yes, correct. 147 00:07:31,220 --> 00:07:33,230 Speaker 1: So it's like, wow, but 30 is always a bit 148 00:07:33,230 --> 00:07:35,400 Speaker 1: hard because you cannot really use at all. So I 149 00:07:35,400 --> 00:07:38,340 Speaker 1: share with my in laws. So it becomes two households. 150 00:07:38,350 --> 00:07:40,330 Speaker 1: But even then we're trying to talk up because honestly 151 00:07:40,330 --> 00:07:42,210 Speaker 1: your feet also only got so many holes for you 152 00:07:42,210 --> 00:07:43,630 Speaker 1: to put the eggs in. Uh huh. 153 00:07:43,642 --> 00:07:46,602 Speaker 1: So it's for sure it's one I don't know for 154 00:07:46,602 --> 00:07:50,122 Speaker 1: sure about other items again because I haven't been tracking exactly, 155 00:07:50,122 --> 00:07:52,952 Speaker 1: but I think a lot of the process items right, 156 00:07:52,952 --> 00:07:55,812 Speaker 1: have definitely gone up slightly when you say process items 157 00:07:55,812 --> 00:07:58,762 Speaker 1: you're talking about like can food tin, food that sort 158 00:07:58,762 --> 00:08:02,032 Speaker 1: of stuff or or anything in packet like even instant coffee. 159 00:08:02,042 --> 00:08:05,662 Speaker 1: I cannot be 100% sure about this. But I don't 160 00:08:05,662 --> 00:08:09,040 Speaker 1: remember paying maybe like 7 90 or 8 90 161 00:08:09,054 --> 00:08:11,394 Speaker 1: for my helpers. Coffee in the past. It might have 162 00:08:11,404 --> 00:08:14,724 Speaker 1: been closer to six something. Okay so we raised the 163 00:08:14,724 --> 00:08:19,654 Speaker 1: goods and services. Tax GST our favorite three letters from 7% 164 00:08:19,654 --> 00:08:23,964 Speaker 1: to 8% at the start of 2023. How has this 165 00:08:23,964 --> 00:08:26,864 Speaker 1: come into play when it comes to your grocery prices? 166 00:08:26,864 --> 00:08:30,954 Speaker 1: How has that affected your grocery shopping? So I think 167 00:08:30,964 --> 00:08:33,584 Speaker 1: for sure a lot of the brands have increased their 168 00:08:33,583 --> 00:08:34,424 Speaker 1: prices more than 169 00:08:34,466 --> 00:08:38,785 Speaker 1: just 1%. So the view increases not just 1% higher 170 00:08:38,796 --> 00:08:41,606 Speaker 1: but I think it really comes down more from the 171 00:08:41,616 --> 00:08:44,146 Speaker 1: price of the item itself rather than the G. S. T. 172 00:08:44,146 --> 00:08:47,266 Speaker 1: Because it's where the receipt increase comes in right jesse 173 00:08:47,266 --> 00:08:49,776 Speaker 1: is the last thing but the item is like on 174 00:08:49,776 --> 00:08:52,295 Speaker 1: top and that's the part that I see is increasing more. 175 00:08:52,306 --> 00:08:55,106 Speaker 1: So I don't know if many brands or businesses although 176 00:08:55,116 --> 00:08:58,606 Speaker 1: rightfully may have actually increased their prices in response to 177 00:08:58,616 --> 00:08:59,860 Speaker 1: inflation 178 00:08:59,878 --> 00:09:01,988 Speaker 1: and hence we are feeling the pinch a lot more 179 00:09:01,988 --> 00:09:04,127 Speaker 1: than just 1%. GST. So I think the idea I 180 00:09:04,128 --> 00:09:06,768 Speaker 1: think about is that the GST increase comes at a 181 00:09:06,768 --> 00:09:10,178 Speaker 1: time where we're also dealing with price increases of other 182 00:09:10,178 --> 00:09:12,648 Speaker 1: items that are necessities in our lives. So it's a 183 00:09:12,648 --> 00:09:15,058 Speaker 1: lot more than just 1%. For sure. So it's kind 184 00:09:15,058 --> 00:09:18,487 Speaker 1: of like a double whammy you think? Exactly. Exactly. And 185 00:09:18,498 --> 00:09:20,487 Speaker 1: I don't know how many people have had like a 186 00:09:20,488 --> 00:09:23,678 Speaker 1: pay raise, a significant pay raise in this period of time. 187 00:09:23,688 --> 00:09:25,288 Speaker 1: I certainly haven't. 188 00:09:29,850 --> 00:09:32,710 Speaker 2: Hi my name is julie you and I'm the host 189 00:09:32,720 --> 00:09:36,390 Speaker 2: of the climate conversations each week, I speak to guests 190 00:09:36,400 --> 00:09:39,020 Speaker 2: who give us tips on how we can protect the 191 00:09:39,020 --> 00:09:42,280 Speaker 2: earth Every once in a while. We also have interesting 192 00:09:42,280 --> 00:09:46,820 Speaker 2: stories like how Singapore's first Tesla owner prompted billionaire 193 00:09:46,830 --> 00:09:49,630 Speaker 2: Elon musk to reach out to Prime Minister Lee Hsien 194 00:09:49,630 --> 00:09:53,520 Speaker 2: loong or a chef who makes the juiciest burgers from 195 00:09:53,530 --> 00:09:57,730 Speaker 2: only plant based ingredients for more stories like these. Look 196 00:09:57,730 --> 00:10:00,680 Speaker 2: for the climate conversations under C. N. A. And me 197 00:10:00,679 --> 00:10:03,660 Speaker 2: listen apps or wherever you get your podcasts. 198 00:10:07,570 --> 00:10:11,010 Speaker 1: Okay so when it comes to your spending habits, so 199 00:10:11,010 --> 00:10:14,330 Speaker 1: you did say oh I'm seeing my eating out bills 200 00:10:14,340 --> 00:10:18,559 Speaker 1: growing now. I used to pay $60 for a midrange 201 00:10:18,570 --> 00:10:22,070 Speaker 1: dinner with my family. Now I'm paying $100 and that's 202 00:10:22,070 --> 00:10:25,660 Speaker 1: like a $40 increment right? Has that prompted you to 203 00:10:25,660 --> 00:10:28,910 Speaker 1: think about how you want to change your spending habits? 204 00:10:28,910 --> 00:10:32,569 Speaker 1: So are you say going to cut back on eating out, 205 00:10:32,580 --> 00:10:35,890 Speaker 1: are you going less in terms of ordering in 206 00:10:36,020 --> 00:10:38,280 Speaker 1: the way you shop, are you looking at different kinds 207 00:10:38,280 --> 00:10:41,370 Speaker 1: of brands for example versus what you were used to 208 00:10:41,380 --> 00:10:43,720 Speaker 1: talk to us about that for sure. I think one 209 00:10:43,720 --> 00:10:46,030 Speaker 1: thing that makes me quite different is that I don't 210 00:10:46,030 --> 00:10:48,580 Speaker 1: just think I act on it pretty quickly. So I 211 00:10:48,580 --> 00:10:51,720 Speaker 1: have been generally quite a trip 50 person by nature. 212 00:10:51,730 --> 00:10:54,520 Speaker 1: I'm quite prudent in our spending and I only pay 213 00:10:54,520 --> 00:10:58,150 Speaker 1: for brands and quality on occasions where I'm really convinced 214 00:10:58,160 --> 00:11:00,890 Speaker 1: like I really need to see a significant change in 215 00:11:00,890 --> 00:11:03,719 Speaker 1: the product quality or a tangible impact on me and 216 00:11:03,720 --> 00:11:03,910 Speaker 1: not 217 00:11:03,920 --> 00:11:06,620 Speaker 1: just something like the brand claims or because it's more 218 00:11:06,620 --> 00:11:09,780 Speaker 1: expensive hands, it's perceived to be better. And what I've 219 00:11:09,790 --> 00:11:12,589 Speaker 1: done is I started acting on it by going towards 220 00:11:12,590 --> 00:11:16,040 Speaker 1: more house brands that probably started sometime last year and 221 00:11:16,040 --> 00:11:18,489 Speaker 1: it was great because what I've always used house brands 222 00:11:18,490 --> 00:11:21,540 Speaker 1: all along, I haven't used as much as I have 223 00:11:21,550 --> 00:11:23,910 Speaker 1: if you look at like the ratio or even the variety, 224 00:11:23,920 --> 00:11:26,420 Speaker 1: like fair price and all they are bringing in and 225 00:11:26,420 --> 00:11:28,920 Speaker 1: expanding the range of house brands to consumers. So it 226 00:11:28,920 --> 00:11:31,480 Speaker 1: was like, just nice kind of timing, you needed more 227 00:11:31,480 --> 00:11:31,780 Speaker 1: house 228 00:11:31,910 --> 00:11:34,760 Speaker 1: to cut down and just like there's more of the 229 00:11:34,760 --> 00:11:36,880 Speaker 1: items as well as more variety to choose from. And 230 00:11:36,880 --> 00:11:39,550 Speaker 1: as a result, the quality has also gotten much better. 231 00:11:39,559 --> 00:11:43,380 Speaker 1: I wouldn't pay for expensive milk for example, right, the 232 00:11:43,380 --> 00:11:46,660 Speaker 1: fair price house brand milk, it's actually quite comparable to 233 00:11:46,660 --> 00:11:48,490 Speaker 1: the non house brands one and of course, if you're 234 00:11:48,490 --> 00:11:51,160 Speaker 1: not picky on tastes la right, some people are like, no, 235 00:11:51,160 --> 00:11:54,010 Speaker 1: I only subscribed to like one brand of soy milk 236 00:11:54,010 --> 00:11:56,350 Speaker 1: or one brand of oatmeal, then that's fine. But if 237 00:11:56,350 --> 00:11:58,920 Speaker 1: you're like, I just want a soy milk for these 238 00:11:58,920 --> 00:11:59,710 Speaker 1: benefits or 239 00:11:59,720 --> 00:12:02,910 Speaker 1: just a taste of it or stuff and I'm flexible. 240 00:12:02,920 --> 00:12:04,910 Speaker 1: The house brand can actually help to shape quite a bit. 241 00:12:04,910 --> 00:12:08,700 Speaker 1: I did this interesting exercise on my instagram where my husband, 242 00:12:08,700 --> 00:12:11,179 Speaker 1: I went to a supermarket and we each held one cut, 243 00:12:11,190 --> 00:12:13,790 Speaker 1: he took the more expensive ones or more like the 244 00:12:13,790 --> 00:12:16,490 Speaker 1: average item, not the super expensive. So that for example 245 00:12:16,490 --> 00:12:20,020 Speaker 1: potato chips that's like the $7 ones and the $3.04 246 00:12:20,020 --> 00:12:21,780 Speaker 1: dollars one. So he would go for the three or 247 00:12:21,780 --> 00:12:23,930 Speaker 1: $4.01 not the high end, I would go for the 248 00:12:23,929 --> 00:12:26,430 Speaker 1: house brand version of it. And then when we compare 249 00:12:26,440 --> 00:12:27,610 Speaker 1: our bill at the end 250 00:12:27,620 --> 00:12:31,030 Speaker 1: of the checkout, mine was 30 something percent cheaper. So 251 00:12:31,030 --> 00:12:33,050 Speaker 1: that's the kind of impact. It was quite interesting to 252 00:12:33,050 --> 00:12:34,949 Speaker 1: see that's how much you can actually save you make 253 00:12:34,950 --> 00:12:37,110 Speaker 1: the switch to house brand. I did notice that you 254 00:12:37,110 --> 00:12:41,170 Speaker 1: are quite the champion of house brands. I think they're great. Yeah. Yeah. 255 00:12:41,170 --> 00:12:43,260 Speaker 1: I have to admit, I was quite averse to house 256 00:12:43,260 --> 00:12:46,050 Speaker 1: brands quite some years ago and I think you'll agree 257 00:12:46,050 --> 00:12:50,140 Speaker 1: with me when I say that back then I'm talking 258 00:12:50,140 --> 00:12:54,790 Speaker 1: about say five minimum five years ago, House brand toilet 259 00:12:54,790 --> 00:12:55,510 Speaker 1: paper 260 00:12:55,520 --> 00:12:59,359 Speaker 1: or house brand potato chips and cotton pads they left 261 00:12:59,360 --> 00:13:02,740 Speaker 1: us wanting in terms of quality, right? I mean we 262 00:13:02,740 --> 00:13:05,300 Speaker 1: can't deny that correct. Like you use the cotton pad 263 00:13:05,309 --> 00:13:07,970 Speaker 1: to remove your makeup, but before you remove half of 264 00:13:08,330 --> 00:13:11,800 Speaker 1: it really disintegrate so how to continue Exactly. So like 265 00:13:11,800 --> 00:13:14,140 Speaker 1: it leaves a trail of cotton across your forehead and 266 00:13:14,140 --> 00:13:16,310 Speaker 1: you're like, no, no, I have to use another one 267 00:13:16,309 --> 00:13:18,780 Speaker 1: and it's defeating the purpose of buying a house brand. Exactly. 268 00:13:18,790 --> 00:13:21,500 Speaker 1: It seems that the quality has since improved and you 269 00:13:21,500 --> 00:13:23,309 Speaker 1: said so earlier. Also like your 270 00:13:23,420 --> 00:13:26,470 Speaker 1: potato chips for example, you're buying cheaper house brands and 271 00:13:26,470 --> 00:13:29,380 Speaker 1: they taste pretty much the same. And I think in 272 00:13:29,380 --> 00:13:34,200 Speaker 1: one of your videos, you also tested peanut butter. Um 273 00:13:34,200 --> 00:13:36,780 Speaker 1: was some of the items that you compared a house 274 00:13:36,780 --> 00:13:39,800 Speaker 1: brand to a I guess a regular mid range brand 275 00:13:39,800 --> 00:13:41,870 Speaker 1: and it serves the same purpose. You were able to 276 00:13:41,870 --> 00:13:45,060 Speaker 1: feed your family for the same quality food product but 277 00:13:45,059 --> 00:13:48,730 Speaker 1: at a cheaper price. So there's still this stigma though, 278 00:13:48,730 --> 00:13:51,090 Speaker 1: that some of us still have about house brands. Right? 279 00:13:51,090 --> 00:13:51,310 Speaker 1: Do you 280 00:13:51,320 --> 00:13:53,370 Speaker 1: you think that that's the case that house brands are 281 00:13:53,370 --> 00:13:57,800 Speaker 1: still of lower quality of inferior quality? For sure the 282 00:13:57,800 --> 00:14:00,130 Speaker 1: stigmas to exist. I think you can attribute it to 283 00:14:00,130 --> 00:14:03,199 Speaker 1: two factors. First is like what you say, people don't realize. 284 00:14:03,200 --> 00:14:05,420 Speaker 1: So it's ignorance and lack of knowledge. They don't realize 285 00:14:05,420 --> 00:14:07,790 Speaker 1: that the house brands of the past are not what 286 00:14:07,800 --> 00:14:10,650 Speaker 1: it is now the variety and quality has gotten way 287 00:14:10,650 --> 00:14:12,459 Speaker 1: better and in fact like even the prices are a 288 00:14:12,460 --> 00:14:15,140 Speaker 1: bit higher now because of the quality, but it is 289 00:14:15,140 --> 00:14:18,650 Speaker 1: very good now. So if people give themselves a chance 290 00:14:18,650 --> 00:14:19,210 Speaker 1: to try, 291 00:14:19,220 --> 00:14:22,020 Speaker 1: I think that's important, then you can make a judgment 292 00:14:22,020 --> 00:14:24,710 Speaker 1: call again based on the quality today instead of your 293 00:14:24,710 --> 00:14:29,080 Speaker 1: perceived quality of it based on your five years ago experience. 294 00:14:29,080 --> 00:14:31,580 Speaker 1: So that's important, right? The second thing also, I think 295 00:14:31,580 --> 00:14:34,940 Speaker 1: it really depends on your own mindset and how influenced 296 00:14:34,940 --> 00:14:37,540 Speaker 1: you are by what people think of you, because the 297 00:14:37,540 --> 00:14:41,380 Speaker 1: truth is even though being frugal and prudent and trippy 298 00:14:41,380 --> 00:14:44,670 Speaker 1: are good traits in this age of social media and 299 00:14:44,670 --> 00:14:47,110 Speaker 1: people showing off brands and all, it's not something 300 00:14:47,120 --> 00:14:50,160 Speaker 1: that you really get celebrated for and some people are 301 00:14:50,160 --> 00:14:52,800 Speaker 1: very quick to say, are you also stingy? So miserly 302 00:14:52,800 --> 00:14:55,470 Speaker 1: I get that a lot, especially in my life. Okay, 303 00:14:55,470 --> 00:14:57,690 Speaker 1: so I've kind of gotten immune to it because I'm like, 304 00:14:57,690 --> 00:14:59,330 Speaker 1: I don't care what you think because at the end 305 00:14:59,330 --> 00:15:01,400 Speaker 1: of the day, even if you think I'm stingy for 306 00:15:01,400 --> 00:15:04,200 Speaker 1: using this brand instead of the brand that you like, 307 00:15:04,210 --> 00:15:06,780 Speaker 1: Well if I don't have money to feed my family, 308 00:15:06,780 --> 00:15:08,900 Speaker 1: are you going to step in and help me know? Right? 309 00:15:08,900 --> 00:15:11,510 Speaker 1: So I'm a bit immune to that people don't realize 310 00:15:11,510 --> 00:15:15,010 Speaker 1: is being impressionable or wanting to impress come 311 00:15:15,150 --> 00:15:18,250 Speaker 1: at a cost if you kind of thought that then 312 00:15:18,250 --> 00:15:20,420 Speaker 1: maybe you should rethink or learn how to be more 313 00:15:20,420 --> 00:15:23,690 Speaker 1: comfortable and confident in your own skin because for me, right, 314 00:15:23,700 --> 00:15:26,130 Speaker 1: I repeat my outfits and I'm not ashamed of it. 315 00:15:26,130 --> 00:15:28,280 Speaker 1: In fact, I like it when people see even my 316 00:15:28,280 --> 00:15:30,940 Speaker 1: I g people see like, didn't you just wear this 317 00:15:30,940 --> 00:15:32,940 Speaker 1: outfit like four months ago? I'm like yeah, you know, 318 00:15:32,940 --> 00:15:35,680 Speaker 1: saving the environment, we use my outfit. I'm getting more 319 00:15:35,680 --> 00:15:37,350 Speaker 1: out of the same dress and not letting them end 320 00:15:37,350 --> 00:15:39,940 Speaker 1: up in some review that I lent you. So it's 321 00:15:39,940 --> 00:15:42,190 Speaker 1: really about your attitude towards the things that you have 322 00:15:42,190 --> 00:15:42,920 Speaker 1: and own. 323 00:15:43,170 --> 00:15:46,000 Speaker 1: Yeah. And it's not just cost benefit, there's an environmental 324 00:15:46,000 --> 00:15:48,690 Speaker 1: benefit to it also right? Being prudent and you know 325 00:15:48,690 --> 00:15:51,660 Speaker 1: what don you never know I mean to the naysayers 326 00:15:51,660 --> 00:15:54,120 Speaker 1: to your instagram or you know, saying that you're very 327 00:15:54,120 --> 00:15:56,580 Speaker 1: stingy and your penny pinching and all that kind of stuff. 328 00:15:56,580 --> 00:15:59,160 Speaker 1: You know what, you might actually set a new trend, right? 329 00:15:59,160 --> 00:16:02,140 Speaker 1: Maybe this is the time with, you know, higher inflation 330 00:16:02,140 --> 00:16:04,310 Speaker 1: people spending more on food and all and all that 331 00:16:04,310 --> 00:16:06,690 Speaker 1: kind of stuff. Maybe you'll be able to turn around, 332 00:16:06,690 --> 00:16:09,700 Speaker 1: who knows right? I hope, but I think like to 333 00:16:09,700 --> 00:16:10,860 Speaker 1: be honest, I'm not dead 334 00:16:10,870 --> 00:16:13,940 Speaker 1: influential, I think the only thing I can hope for 335 00:16:13,940 --> 00:16:16,460 Speaker 1: is that by sharing and like being my authentic self, 336 00:16:16,470 --> 00:16:18,990 Speaker 1: people who are like me or are in a position 337 00:16:18,990 --> 00:16:20,710 Speaker 1: where they just don't want or cannot afford to spend 338 00:16:20,710 --> 00:16:23,120 Speaker 1: that much at least they don't feel so ashamed. So 339 00:16:23,120 --> 00:16:25,670 Speaker 1: I hope I just make these people feel less alone 340 00:16:25,680 --> 00:16:29,040 Speaker 1: and to show them that it's okay because not everyone 341 00:16:29,050 --> 00:16:31,470 Speaker 1: is rich or has a lot of money to go 342 00:16:31,470 --> 00:16:33,430 Speaker 1: and do all these things without caring about the effects 343 00:16:33,430 --> 00:16:37,280 Speaker 1: of inflation. Yeah. Speaking of inflation, one of the key 344 00:16:37,280 --> 00:16:38,440 Speaker 1: things that sort of 345 00:16:38,570 --> 00:16:42,530 Speaker 1: find your social status is where you shop. Right? So 346 00:16:42,530 --> 00:16:45,600 Speaker 1: going back to the topic of shopping for food, a 347 00:16:45,600 --> 00:16:47,640 Speaker 1: lot of us tend to think that oh shopping at 348 00:16:47,640 --> 00:16:50,560 Speaker 1: the supermarket is sort of more premium you get the 349 00:16:50,560 --> 00:16:54,780 Speaker 1: freshest stuff. But what about shopping at wet markets? I 350 00:16:54,780 --> 00:16:57,970 Speaker 1: personally like shopping at wet markets whenever I can because 351 00:16:57,980 --> 00:17:00,400 Speaker 1: I don't have to buy a whole pack of chilies 352 00:17:00,400 --> 00:17:02,510 Speaker 1: or onions because there are only the two of us 353 00:17:02,510 --> 00:17:05,460 Speaker 1: in the house, I only really need a few pieces. Right? 354 00:17:05,470 --> 00:17:06,260 Speaker 1: So do you see 355 00:17:06,270 --> 00:17:09,020 Speaker 1: I think this actually works in terms of cost savings. 356 00:17:09,030 --> 00:17:11,950 Speaker 1: Yeah I think it's a fabulous tip actually it's one 357 00:17:11,950 --> 00:17:15,180 Speaker 1: that I don't personally do my helper does. So when 358 00:17:15,180 --> 00:17:19,180 Speaker 1: we go now fortnightly grocery trips right very seldom will 359 00:17:19,180 --> 00:17:21,240 Speaker 1: have a huge block of vegetables at the most is 360 00:17:21,240 --> 00:17:24,320 Speaker 1: probably just one pack of portobello mushroom for that week 361 00:17:24,330 --> 00:17:26,909 Speaker 1: and then like maybe just one or two broccoli or 362 00:17:26,910 --> 00:17:30,860 Speaker 1: spinach but everything else. Every other vegetables will always be 363 00:17:30,859 --> 00:17:32,889 Speaker 1: bought at the wet market and that's where my helper 364 00:17:32,890 --> 00:17:33,920 Speaker 1: will ask me for the marketing, 365 00:17:34,060 --> 00:17:37,460 Speaker 1: right? And you're right, like you get to control more 366 00:17:37,460 --> 00:17:40,080 Speaker 1: of the portions that you want and it's cheaper as well. 367 00:17:40,090 --> 00:17:42,640 Speaker 1: Although the only question I would ask you is is 368 00:17:42,640 --> 00:17:46,630 Speaker 1: buying more quantities equivalent to what you would have paid for. 369 00:17:46,630 --> 00:17:49,040 Speaker 1: The bigger quantities at the supermarket, but then you buy 370 00:17:49,040 --> 00:17:50,450 Speaker 1: the big one, you don't end up using it, then 371 00:17:50,450 --> 00:17:52,320 Speaker 1: it's a waste of solar. It's a bit of a 372 00:17:52,320 --> 00:17:56,240 Speaker 1: double edged sword. It's the priority saving every cent that 373 00:17:56,240 --> 00:18:00,540 Speaker 1: you can or buying what you need and not wasting it. Exactly. 374 00:18:00,540 --> 00:18:01,659 Speaker 1: I think one thing I 375 00:18:01,670 --> 00:18:04,859 Speaker 1: also emphasized is I'm a huge believer in when it 376 00:18:04,859 --> 00:18:07,410 Speaker 1: comes to fighting inflation right? We cannot just think of 377 00:18:07,410 --> 00:18:09,450 Speaker 1: cutting down on what we spend. So I wrote this 378 00:18:09,450 --> 00:18:12,010 Speaker 1: article where I talk about the three pillars and the 379 00:18:12,010 --> 00:18:14,170 Speaker 1: first one of course is your budget. The second one 380 00:18:14,170 --> 00:18:17,169 Speaker 1: would be on, how can you optimize what you're already spending. 381 00:18:17,170 --> 00:18:19,960 Speaker 1: So are there like discounts or cash backs or credit 382 00:18:19,960 --> 00:18:21,550 Speaker 1: cards that you can use to get a little bit 383 00:18:21,550 --> 00:18:23,729 Speaker 1: more of the money that you have to spend anyway? 384 00:18:23,740 --> 00:18:25,610 Speaker 1: And then the last one would be, how can you 385 00:18:25,609 --> 00:18:28,020 Speaker 1: get more, can you actually do a side hustle to 386 00:18:28,020 --> 00:18:29,310 Speaker 1: earn more or deck 387 00:18:29,369 --> 00:18:31,609 Speaker 1: and a bit more projects at your workplace to increase 388 00:18:31,609 --> 00:18:34,770 Speaker 1: your promotion chances or even say set up your own 389 00:18:34,780 --> 00:18:37,770 Speaker 1: side business or do like a part time job, like 390 00:18:37,770 --> 00:18:40,330 Speaker 1: tutoring or stuff to earn a little bit more because 391 00:18:40,330 --> 00:18:43,760 Speaker 1: ultimately if someone is good at increasing their earning power 392 00:18:43,770 --> 00:18:46,990 Speaker 1: that could very well be easier to achieve versus trying 393 00:18:46,990 --> 00:18:49,140 Speaker 1: to cut down. Because there's a point where you realize 394 00:18:49,140 --> 00:18:52,290 Speaker 1: you can't really cut that much anymore without compromising the 395 00:18:52,290 --> 00:18:54,930 Speaker 1: quality of life that you're willing to settle for. And 396 00:18:54,940 --> 00:18:56,990 Speaker 1: let's say if you look at cutting down 397 00:18:57,070 --> 00:19:00,930 Speaker 1: 30% of your monthly expenses right? Say that translates into 398 00:19:00,930 --> 00:19:05,080 Speaker 1: $1,000 of savings. But if you would go and take up, 399 00:19:05,080 --> 00:19:07,020 Speaker 1: let's say a tutoring job and you're good at it. 400 00:19:07,020 --> 00:19:09,050 Speaker 1: Or you take up to tutoring jobs, you could easily 401 00:19:09,050 --> 00:19:11,360 Speaker 1: earn more than $1,000 to make up for the increase 402 00:19:11,359 --> 00:19:13,960 Speaker 1: that you would have been subjected to due to inflation 403 00:19:13,960 --> 00:19:15,860 Speaker 1: and all of that. So I think people really need 404 00:19:15,859 --> 00:19:17,879 Speaker 1: to think about what to prioritize of course someone who 405 00:19:17,880 --> 00:19:20,040 Speaker 1: is very busy at the time then no choice that 406 00:19:20,040 --> 00:19:21,920 Speaker 1: you only can work on a budgeting side. But then 407 00:19:21,930 --> 00:19:24,090 Speaker 1: maybe they can look at how can I earn more 408 00:19:24,090 --> 00:19:24,760 Speaker 1: may be true in 409 00:19:24,770 --> 00:19:27,340 Speaker 1: investments, right? Or if there's something I can do that 410 00:19:27,340 --> 00:19:30,720 Speaker 1: doesn't take up too much time. Maybe not completely active income. 411 00:19:30,730 --> 00:19:34,000 Speaker 1: Or even simple things like investing in t abuse when 412 00:19:34,000 --> 00:19:36,920 Speaker 1: the U. Is high because that that guaranteed by mes 413 00:19:36,920 --> 00:19:38,740 Speaker 1: as well. Right? So you can do all these little 414 00:19:38,740 --> 00:19:42,280 Speaker 1: tweaks here and there to try and negate the inflationary 415 00:19:42,280 --> 00:19:46,220 Speaker 1: pressures that you're feeling. Those are actually really nice sort 416 00:19:46,220 --> 00:19:49,730 Speaker 1: of backdoor tips almost rather than just, you know, straight up, 417 00:19:49,740 --> 00:19:51,050 Speaker 1: I'm going to cut this, I'm going to cut this 418 00:19:51,050 --> 00:19:52,460 Speaker 1: and then you end up quite miserable. 419 00:19:52,619 --> 00:19:56,150 Speaker 1: Well it's inevitable that we have to pay more for 420 00:19:56,150 --> 00:19:59,730 Speaker 1: our groceries, but with the right strategy, the nice little 421 00:19:59,730 --> 00:20:02,350 Speaker 1: backdoor tips as well, there are ways we can stretch 422 00:20:02,350 --> 00:20:05,460 Speaker 1: our limited dollars. Thank you so much for your time, 423 00:20:05,460 --> 00:20:08,850 Speaker 1: Dawn for providing some of these handy shopping tips amidst 424 00:20:08,850 --> 00:20:11,840 Speaker 1: the higher grocery prices on top of inflation. 425 00:20:12,030 --> 00:20:15,300 Speaker 1: And thank you as well. Our listener. Now, if you've 426 00:20:15,300 --> 00:20:18,270 Speaker 1: enjoyed this episode of money talks, do check out our 427 00:20:18,270 --> 00:20:22,570 Speaker 1: other episodes on apple podcasts or Spotify as well. The 428 00:20:22,570 --> 00:20:27,359 Speaker 1: team behind money talks is Joanne, chan, Jacqueline, chan Christina 429 00:20:27,359 --> 00:20:30,900 Speaker 1: robert and I am Andrea thank you for listening.