Do millennials know how to save money?

Photo: Pixabay
Photo: Pixabay


Snowflake, strawberry generation, entitled, spoiled. These are just some of the terms that have been thrown about when referring to millennials — but do any of these accusations hold water? Talk surrounding millennials has truly been nothing short of polarizing. No other generation in recent years has been chastised for simultaneously killing off the diamond industry AND for their inability to afford houses as a result of their crippling avocado toast addiction. Get you a generation that can do both? 

Now, Singaporeans are natural shopaholics (as if that wasn’t a well-known fact already) — our dedication to shopping is in our DNA, as evident from the long queues that snake around the island for just about anything from iPhones to brown sugar milk tea. As Great Singapore Sale (referred to as GSS, but you already knew that) season looms ahead once again, there’s no doubt Singaporeans of all creeds will be out in full force i.e. kiasu as all hell, if the GSS crowds from years past are any indication. Maybe it’s ‘cause we’ll never experience the four seasons in Singapore, so sale season’s the preferred forecast around these parts. To all Singaporeans young and old, we hope you’ve been diligent about those cardio exercises. You’ll definitely need it to conquer those crowds. 

In one of the most expensive Asian cities to live in (we’re tied with Hong Kong), we take a look at how some Singaporean millennials are saving and spending their hard-earned moolah. Do they live up to the sly stereotypes that the older generations have cast on them?

Might millennial spending habits be any different from that of the older folks? Play the video below and see if these young adults’ answers surprise you. 

Aaaand the verdict’s in. Turns out, our young adults do want to save whenever they can, wherever they can — or at least those we’ve interviewed, even if they might indulge in a little (or a 49-inch-TV-sized) treat every now and then. In keeping to their Singaporean roots, our respondents are definitely no stranger to going all out when saving money, even religiously checking for cheaper airfares every single night before bed (just one of a thousand reasons why millennials might look drowsy at work). 

Of the young adults we interviewed, all of them prioritized setting aside some money from their salary, with one respondent revealing that she usually saves a whopping one thousand dollars every month. GSS season has a bad rep for being mainly for the older crowd instead of the young and trendy, but our respondents have shown us that there is still hope for lowering the national average age of GSS attendees. 

Maybe it’s time to cut millennials some slack. We don’t know about you, but we’re even starting to take some notes. If you, too, share the same passion for saving them hard-earned dollars, you might want to check out what Grab has in store for users this shopping season. They’ve kicked off the festivities nearly a whole month earlier, with their own Grab Singapore Sale.

If you’re already planning to spend money when those sales start rolling in, why not give yourself the chance to win up to $150,000 worth of prizes, courtesy of the Grab Singapore Sale? From now until 31 July, you’ll even stand a chance to win prizes from Agoda, Shangri-LA, Dyson, and of course, Grab and GrabFood when you spend $10 or more in GrabPay Credits. Of course, you’ll be earning while you spend too, with GrabRewards points up for, well, grabs!

Why not turn your everyday expenses into savings for the big-ticket items? Rack up those GrabRewards points when you use your GrabPay credits, and save up those points even past sale season — talk about killing two birds with one stone. Take a page out of these millennials’ books and start earning while you save!

Photo: Grab SG
Photo: Grab SG

Are you a KITKAT fan? For two weeks only, Grab has opened a KITKAT CHOCOLATORY right inside the Grab app as part of the Grab Singapore Sale, so you can get your hands on special edition KITKAT bars, inspired by local and international flavors. Don’t miss out!

If you’d like to know more, check out their website for more details on the Grab Singapore Sale. 

Show your local Singapore pride with our new City Logo Tee! Available on sale until September 30 at The Coconuts Shop.



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