Whether you are one of those who are struggling with monthly bills like myself or a debt-free Malaysian, here are 10 simple & realistic ways to help you SAVE MONEY.
|GOODBYE TO TV!|
This will help you save about RM120 to RM200.
|Start using your calculator to check on budget|
By doing this, there is a better chance of you improving your savings to about RM150. (only an estimation, depending on your income etc.)
3) PUBLIC TRANSPORTATION
You will be surprised by how much you can save on transportation alone by by eliminating fuel, toll and parking fees from your daily expenses.
With this, you will save about RM200 to RM400.
4) START MAKING YOUR OWN COFFEE
I know the temptation of buying one at the nearest Starbucks or going to OldTown Kopitiam to grab one...but if you are a coffee lover, how about investing in a quality machine, some quality beans, and a few filters.
|Forget about Starbucks...time to make your own coffee|
Do it right, and your coffee could be as cheap as RM1 a cup. Then you can say goodbye to the barista near your office and keep your money in your wallet every morning. Estimated savings of about RM100 to RM150.
5) LUNCH PACKED FROM HOME
|Packed lunch anybody?|
Here is one of the most important ones....Start packing your own lunch to work. If you spend an average of RM10 a day on lunch, you can save about RM200 on a 20-work day month. That’s enough motivation for you to start doing so...
6) SPRING CLEAN YOUR SUBSCRIPTION
Here is an important one....we all know that there are so many advertisement promoting on the cheap subscription for magazines, mobile phone's data, etc...but do you really need a 3GB data plan? And do you have to go to gym? (I fall for this trap myself but I think it's time to spring clean my subscription don't you think?)
You could easily save up to RM200 to RM300, depending on how many subscription you have. Really, just go for what you need....
7) CREDIT CARD, CHOOSE THE ONES BEST SUIT YOUR LIFESTYLE
What’s your credit card usage like? If you tend to stretch on your credit card, look for a credit card with the lowest interest rate, with no annual fee. However, if you usually pay off the full amount every month, get a card with the best rewards programme.
|Is your credit card offer you the best benefit, suited for your lifestyle?|
Do some online comparison to find the best card for you. And the most important thing to remember is to use your credit card prudently and pay your bill punctually to avoid paying for interest. Credit card can be a good friend, if you know how to use them. It's difficult to estimate how much you save from all these, but with the cashback and some of the reward points, you probably could save about RM50 to RM100 a month by choosing the right one for yourself?
8) Automate BILL PAYMENTS
With a hectic schedule, one probably will forget when it comes to bill payments.
Consider automating your bill payments to avoid late fees by setting up your bank account to pay the bills automatically. Don’t wait until the last minute and risk being charged on late payment as sometimes, penalty can be imposed on late payment. Most of the automated bill payment will offer some discount (5% discount when I automate my bill payment for Digi). Not a huge sum but definitely help make our lives more convenient.
9) RETHINK ENTERTAINMENT
One of the biggest problem with our society is the lack of interests and hobbies. Instead of going out and spending hundreds on food and drinks plus movie tickets, bring the party home.
|RESET OUR MINDSET WHEN IT COMES TO ENTERTAINMENT|
How about a movie at home, with some take-away food and drinks?
How about a chess game? How about badminton? How about a futsal game? How about going for some social work with a group of friends? It's all about creativity. It's not just about SHOPPING MALLS in KL!!
10) Compare, compare, compare
This is one attribute that girls are really good at. When a guy goes shopping, he bought an item from a shop that he goes to frequently. When a female goes shopping, she looks at the price tag of one shop and compare it with the other...go for the cheapest.
It is probably going to be difficult but ask the ladies...you probably could save enough for a movie or a drink later...