While the cost of living expenses are must-haves, they have become unbearably high in Seychelles. The regular monthly expenses like housing, subscriptions, food, utility bills, and transportation require a significant portion of your total budget. On average, a one-bedroom apartment in Victoria costs $500 in rent, while utilities plus other costs, including food, transport, and clothing, amount to $450 per month.
Evidently, the costs can be so overwhelming sometimes that you think of moving to another city or town where the expenses are lower. However, before you relocate to another location, look at the sum of money you spend on utilities, car payment, food and rent, and you will realize there’s still room for improvement. Below are tested effective methods you can follow to trim your living expenses.
People living in Seychelles spend most of their money on takeaways, fast food, and restaurants. The cost of takeaways ranges between 40 to 60 SCR, while the cost of pizza ranges between 120 to 130 SCR. While the prices might seem reasonable, they are quite high for someone who does not earn much. The best option is to buy groceries from a local market, such as STC Hypermarket, Kannus supermarket, and Kumar supermarket, and cook your food. Most of the Seychelle markets offer lower prices for domestic food. Consider keeping away from pricey imported food and alcohol.
Taxi prices in Seychelles are insanely high. It takes approximately $20 to travel a distance of only a couple of kilometers. On the lower end, commuting to and from your place of work will cost you roughly $40 a day, which translates to $200 a week, assuming you only work five days a week. Renting a car is relatively cheaper ($40), but owning one is very expensive considering the exaggerated fuel prices. But again, the option is only manageable if you travel to work in a group or if you are splitting the cost with someone. Otherwise, the option is still expensive as compared to travelling by bus. Travelling by bus is cheaper and more convenient as you only get to spend approximately 7 SCR (50 US cents) on a single trip.
If you can only see brand names by looking around your house, consider investing in generic items to save big. Most people fail to understand that brand product are often produced in the same facilities as generic items. The only difference between them is the packaging. Branded products are often overpriced for having a widely recognizable name. By spending your money on generic brands, you save a lot of money that can be spent elsewhere.
In Seychelles, heavy charges are levied on withdrawals in banks and at cash machines. Basically, someone spends approximately 100 SCR in a single withdrawal ($7). While the ATM fixes withdrawal fees, you need to be vigilant about your choice. Stay away from ATMs that levy the withdrawal, including Barclays ATM, and go for ATMs with no fee, such as MCB (Mauritius Commercial Bank) ATMs. As a plus, MCB also allows you to withdraw money from their ATMs without a bank card and settle your bills through the bank’s mobile application so long as you are their client.
Saving in Seychelles is easy so long as you incorporate healthy money habits. Having a budget is all about being intentional. Create a plan to see where you spend most of your money and find out how you can cut costs so that you can actually save each month. Remember that it really doesn’t matter how much money you make. How you spend what you make is all that matters.
