How Much Do You Need to Give Up to Become a Millionaire?

Who doesn’t want to be a millionaire? I certainly want in, and judging by the long lines at Singapore Pools whenever they announce some grand million-dollar prize, so do many others. But let’s take it a notch down to reality. 

Many people think hitting that million-dollar mark means cutting out all indulgences. Sure, cutting back on fancy coffees, limited-edition collectables (Labubu collectors we’re looking at you), or pricey gym memberships could save you some cash. But realistically—just how many of these little luxuries would you have to skip to reach S$1,000,000? Let’s do some math.

How Many Lattes, McDonald’s Suppers, and PlayStation Games Would You Have to Give Up for a Million Dollars?

We all know times are tight, and those daily flat whites add up. But how much does cutting out life’s small pleasures actually save? Let’s take a look at 5 common indulgences and see if ditching them could really bring us closer to that million-dollar mark:

Morning Coffee (S$4 per cup)

Skipping your daily S$4 coffee would save about S$1,460 a year. But to save S$1,000,000, you’d need to skip 250,000 cups, or roughly 1,095 years of caffeine sacrifices! 

McDonald’s Supper (S$10 per meal)

Your weekend McSpicy meal might set you back S$10 a pop but skipping it for life to reach S$1,000,000 would mean giving up 100,000 meals—roughly 1,923 years’ worth!

Making smart choices can help your budget, but cutting out all the little indulgences isn’t the only way to stay on track financially. A life without McNuggets? No way!

Labubu Toy Collection (S$50 per figure)

We’re seeing them and hearing the song everywhere. Love collecting the latest Pop Mart Labubu figurines? Let’s say you spend S$50 for each figurine, but you’d need to pass on 20,000 of them—500 years of collections—to save a million.

Gym Membership (S$120/month)

At S$120 per month, you’re spending S$1,440 a year on fitness. To save S$1,000,000, you’d need to cancel your membership for 694 years. 

New PlayStation Game (S$80 per game)

A single game costs S$80, and to save S$1,000,000, you’d need to skip 12,500 game releases. That’s about 833 years of resisting every new game title.

But is it necessary to torture yourself this way? Instead of cutting out life’s small pleasures like your daily coffee or weekend treats, focus on mindful spending and earning rewards that align with your financial goals. Sacrificing every indulgence won’t make you a millionaire, but with a smarter approach to your budget, you can enjoy what you love while still working towards your financial dreams.

How to Still Enjoy What You Love

So, how can you strike a balance between enjoying your favourite treats and staying financially savvy? The key lies in finding ways to earn rewards and maximize your spending, so you can indulge in the things you love without derailing your financial goals.

Earning cashback

If you’re looking to earn rewards while you spend, cashback credit cards are a smart choice. They can help cushion your expenses whether you’re stocking up on groceries for the family or treating yourself to online shopping sprees. Look for cards that offer cashback in categories that align with your lifestyle—like dining, shopping, or entertainment—to maximise your rewards effortlessly.

To enjoy up to 15% cashback (capped at S$250 per quarter) on your preferred category with the Trust Cashback Card, you need to make a minimum monthly eligible spend of S$2,000 on your Cashback credit card for 3 consecutive months. But fret not—if your spending doesn’t quite hit that mark, you can still earn cashback:

• 5% (capped at S$30) with a minimum monthly spend of S$500 for 3 consecutive months across all eligible transactions
• 10% (capped at S$100) with a minimum monthly spend of S$1,000 for 3 consecutive months across all eligible transactions

What’s more, the minimum spend qualification is based on your transaction date (not posting date!). You can easily track your spend in real-time in your App, giving you the opportunity to qualify for highest cashback tier even by spending on the last day of the month.

Unlike other credit cards, don’t feel the guilt of missing out on rewards when you spend outside of your preferred category. The Trust Cashback card earns you a handsome 1.5% unlimited instant cashback (for new-to-Trust customers) on other eligible spends, and 1% for existing Trust customers!

That’s not all. In addition to cashback, Trust Bank’s Cashback credit card comes with a few other useful features:

No Foreign Transaction Fees
For those who enjoy travelling or shopping on international websites, this card doesn’t charge foreign transaction fees when you spend abroad or in foreign currency. You’ll also benefit from favourable exchange rates directly from Visa without any extra markup. Oh, did we mention? Forget about topping up that e-wallet before your travels, just use your credit card as it is.

No Annual Fee
One less thing to worry about: there’s no annual fee attached to this card. You won’t need to call in to request a waiver—it’s that hassle free. 

Instant Cashback
One of the nice touches is that the 1.5% (or 1% for existing Trust customers) cashback is instant. That means you will receive the cashback instantly as soon as the transaction is completed and posted to your cashback card! 

Just remember that for the  cashback of up to 15% on your chosen category,  you will receive the cashback on the 1st day of your new quarter. 

Real-time tracking

Bonus Perks: How You Could Become a Millionaire 

So, how does becoming a millionaire sound? Trust Bank is currently running a promotion that gives new sign-ups for the Trust Cashback credit card a shot at winning a cool S$1 million. 

Here’s how it works:

• Sign up for Cashback credit card: Earns you 1 chance.
• Refer a friend: Sharing is caring. As a Trust Cashback credit card customer, successfully referring a friend to sign up for any Trust product gets you 10x chances!

In addition, join quests and score sure-win scratch cards!

• Sign-Up Promo: Make just one Visa purchase within the first 30 days of getting your Trust Cashback card, and you’ll receive a sure-win scratch card. The values on these scratch cards range from S$5 to S$1,000.

• Second Scratch Card: Accumulate S$500 in spending to earn a second scratch card.
• Third Scratch Card: Hit S$2,000 in cumulative spending, and you’ll receive a third scratch card. 

You can earn up to S$3,000 in cashback from these scratch cards, but remember, this promo is only valid within your first 30 days as a cardholder.

Enjoy Life Without Giving Up Too Much

Cutting back on your indulgences might save you a little, but let’s face it—that won’t get you anywhere near a million bucks. Instead, aim for smarter spending and find a credit card that aligns with your lifestyle. With the right cashback card, you can enjoy your little pleasures while earning some rewards along the way. After all, who says you can’t have your coffee and drink it too?

Trust Cashback Card and Promotion T&Cs apply.
Visit https://trustbank.sg/cashback-credit-card/ for more information.