Lifestyle Adjustments You Can Do to Repay Loans Easier

19th June 2024

Loans are a part of life for lots of folks. Whether it’s for financing an education or securing a dream home, the debt you have to repay to legitimate money lenders can be a significant financial burden, especially considering the rising cost of living in a place like Singapore.

There is good news, though: strategic lifestyle adjustments help accelerate your loan repayments and achieve financial freedom faster.

We will take a look at five significant adjustments to your routine that can free up resources and help you pay down your loans more efficiently.

Go Minimalist

Downsizing and going minimalist can help improve your cash flow and give you a good lead on your loan repayments. Minimalism allows you to keep your possessions to a minimum, leading to fewer impulse purchases that impact your monthly budget.

Decluttering also frees you from the burden of excess and puts you into a mindset of purposeful spending. It means you are making your spending more intentional and less impulsive.

Start by decluttering one room at a time. Sort through belongings and discard anything unused, broken, or no longer sparks joy, as Marie Kondo would say. Consider selling items online through platforms like Carousell, Shopee, or consignment shops for an extra boost in your income.

Minimalism also applies to your subscriptions. Sift through your various monthly subscriptions and cancel services you rarely use. Doing this gives you more savings that can be channeled to paying off your debts from a money lender in Ang Mo Kio or other parts of town.

Cook at Home More, Eat Out Less

One of the things that eat into one’s monthly budget fast is habitually eating out. We can’t blame you since Singapore is known to offer a mind-boggling variety of delicious local cuisine.

Eating out occasionally is fine. There’s nothing wrong with enjoying SG’s food scene but if you do it quite often, it will take up a huge chunk of your budget.

Instead of always eating at, prepare your own food and eat at home more often. Doing this allows you to save more money and eat healthier because you have full control over what goes into your kitchen.


Employing the “Do-It-Yourself” (DIY) approach also makes debt repayments a lot easier. Instead of always calling a handyman for minor repairs or paying for expensive alteration services, getting things done by yourself can significantly lower maintenance expenses.

Small tasks like tightening loose furniture screws, touching up paint chips and scratches, or learning basic sewing techniques for clothing repairs are skills that can be easily picked up. You can access countless online tutorials and resources to guide you through DIY projects.

However, for projects that require highly skilled craftsmen, it’s best to leave it to the pros so you don’t do further damage, leading to bigger expenses.

Choose Free and Low-Cost Entertainment

Singapore may be known for theme parks and swanky tourist spots, but it also has lots of free and low-cost entertainment options. SG has some of the most beautiful parks and gardens on its side of the world—perfect for picnics, jogging, or simply enjoying nature. Many museums offer free admission on specific days or discounted rates for students and seniors. Enjoy cultural events and festivals showcasing Singapore’s diverse heritage.

Think outside the box. Plan movie nights at home with friends instead of expensive nights out at the movies. Host game nights and have everyone just bring food to share. Explore local hiking trails, organize volunteer activities, or attend free community workshops.

Singapore has lots in store for those who want to have fun and connect with others without breaking the bank.

Wrapping It Up

Repaying loans doesn’t have to feel like a constant struggle. By embracing these small lifestyle adjustments, you can free up significant resources and accelerate your debt repayment journey. Remember, consistency is key. Start with a few manageable changes and gradually incorporate more as you become comfortable.

Finally, don’t hesitate to seek professional financial advice. A qualified financial advisor can help you tailor a personalized plan based on your specific loan situation and financial goals. With dedication, discipline, and a strategic approach, you can conquer your loans and achieve financial freedom sooner than you think.