Formal education may have taught me that the mitochondria is the powerhouse of the cell, but it didn't exactly give me a crash course on personal finance.   

With everything just a tap away these days, it's easy to get carried away with online shopping. The convenience is great, but my wallet definitely feels the pinch every time I click 'checkout'. And before I know it, I've splurged a chunk of my salary on the latest gadget.

So even though I feel like I've somewhat got a handle on my finances, my spending habits seems to suggest that I fit into the Gen Z stereotype of being bad with money.

Positive life changes often start with a trustworthy mentor by your side. Luckily, there's someone at work who fits the bill - a senior who is always armed with a promo code and never seems to be ruffled by unexpected expenses like birthday or farewell lunches.

Intent on getting some insider tips on managing my finances, I reached out to her for guidance.  

"Actually, the best practices are always the simplest," she said. "If you can explain it on a single post-it note, you'll know it's a good tip."  

From setting up the correct savings accounts to knowing where to look for promo codes, here are five game-changing tips I've learnt from my millennial colleague. 

1. Buy house brand products 

"First things first, when you're shopping for groceries, look for house brand products," she shared. "They're usually more affordable and surprisingly good quality. I always go for house brand when stocking up on snacks and household items such as toilet rolls, laundry detergent and dishwashing liquid." 

True enough, the next time I dropped by the supermarket, I noticed that the house brand items were indeed priced more competitively. I'm typically loyal to one chip brand, but a Meadows Truffle Chips packet only costs me $1.20 - that's almost five times cheaper than my usual purchase!   

Besides checking out the house brand chips, I discovered many more affordable snacks, detergents and cooking essentials under the Meadows or Giant house brand labels.  

If you prefer to have your groceries delivered, there's the option of buying from Cold Storage and Giant on foodpanda shops. It's the same price online and in-store, plus you can also earn yuu Points when you order on foodpanda.

An added bonus is that you'll be able to enjoy the in-app discounts and promotions. I was able to get 18 per cent off my order using the promo code GROCERIES (min. spend applies). FYI, this promo code also applies to your groceries on pandamart, with round-the-clock orders delivered within an hour!

2. Set up a designated savings account 

Once in a while, a massive sales event rolls around, and I find myself struggling to curb the urge to make impulse purchases. I often end up buying things I don't need. It's tough to resist those deals! 

"Of course, you shouldn't buy anything you'll regret," my senior advised. "And if you're worried about over-spending, why not set up a dedicated savings account so that the money meant for your spending and savings are separated?" 

"And while you're at it, you can also set up a recurring transfer." 

Now why haven't I thought of that? For those like me, who hate budgeting and excel sheets, this astonishingly simple solution offers the peace of mind that you're steadily building your savings. 

It might also be worthwhile to set up multiple savings accounts for different goals. For instance, one for a house, another for emergency funds and one for vacations.  

The beauty of having multiple accounts, or so I've learnt, is that you can take advantage of different interest rates or offerings from various banks. Plus, if you hit the minimum deposit, you might even earn sign-up bonuses.  

3. Take advantage of deals 

You can always count on Telegram channels to find the latest promo codes and vouchers - especially if it pertains to food. I'm subscribed to a few of the usual suspects, but I always forget to check them when I could really use a discount. 

"Whenever you're planning to order food or grocery delivery, spare a few minutes to check Telegram for any ongoing promotions," my senior recommended. 

Not one to miss out on a good deal, she also shared that she often looks for deals and Telegram channels to follow through keyword search - talk about S-tier effort!  

She graciously shared that the best keywords to search for on Telegram are 'lobang' and 'deals'.  

This particular tactic netted me an amazing find this week: the foodpanda SG lobang Telegram channel where you can find an extensive list of foodpanda promo codes, discounts and rewards. 

In fact, that's where I found out about foodpanda's up-to-58-per-cent-off promotion (valid till Feb 29) on selected restaurants like Canadian Pizza, KFC, I Love Taimei, and more. I subscribed to the channel instantly - it's the best way to keep up-to-date on all the latest promotions!

And here's another hack I discovered. When shopping on the foodpanda app, tap on 'Vouchers & Offers' on the menu bar (located on the top left corner) to see the latest deals and available vouchers. It's a simple, fool-proof way to score some extra savings on your purchases.

4. Use rewards apps and credit cards for cashback 

Saving more, check. Spending less, check. Now how do I make sure I'm getting the most value on my expenses? 

"At some point, you're going to need a rewards credit card," my senior advised. "Basically, it's anything that will grant you cashback or cash rebates any time you make a purchase." 

"The best place to start is with everyday cards or rewards programmes that focus on groceries and daily spends." 

Essentially, getting cashback or cash rebates means I'm stretching my dollar - it's like getting rewarded for the money I'm spending anyway. 

And one way I've been doing that is through the yuu Rewards Club, a rewards programme that collaborates with 18 merchants, including foodpanda, Giant and Cold Storage. 

It was pretty easy and fuss-free to set up. All I did was link my yuu ID on my foodpanda account to start earning 1 yuu Point with every $1 spent. Accumulating points allows you to redeem discounts, vouchers and free snacks. For instance, you can you can redeem a $2 foodpanda voucher with 100 yuu Points alone.

Now I get a tiny source of happiness in the morning when the app notifies me of new points transferred to my account.  

Next on my to-do-list would be to sign up for the DBS yuu Card, which lets me earn 36 yuu Points for every $1 spend. This means that I'll only need to spend $3 to redeem a $2 foodpanda voucher - talk about getting more bang for your buck!

5. Consider subscribing to a service 

Apart from my daily expenses, I'm subscribed to various services - mostly personal apps and cloud storage for work purposes. While some subscriptions, especially those with annual fees, may appear costly at first glance, they're likely to be more cost-effective once you do the calculations.  

 "If you're using a product or service regularly like Adobe Creative Cloud or Google Drive, you can take a look at their subscription offers," my senior encouraged. "But first, check for free trials, first-month discounts or introductory offers."  

 Since I'm always ordering food delivery for my family on weekends, I decided to get an annual pandapro subscription. Using the code NEW10, I paid only 10 cents for my first-month trial (U.P. $7.99 per month) and took up the annual pandapro plan at $3.99 per month.

 It was the most logical choice for maximum savings, as I've been given the royal treatment since then. I get to enjoy these perks every month:

• 3 vouchers for $4 off food delivery
• 50 vouchers for 10 per cent off pick-up

If you're thinking of trying out the subscription, sign up with the code NEW10 asap as there are limited redemptions available!

 Managing finances doesn't have to be complicated or difficult 

 In a nutshell, I've learnt that keeping it simple is the best way to begin my personal finance journey, though I hope I'll continue to keep these tips in mind when the next sales period hits. 

 "Make sure you're not just saving, but also spending your money in a smart way," my senior reminded. 

And as demonstrated, there are a few ways you can stick to your budget while still enjoying the convenience of food and grocery deliveries. Why not start by following the foodpanda Telegram channel to stay updated on the latest deals and promotions? 

 This article is brought to you in partnership with foodpanda. 

sophia.kuek@asiaone.com

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