Hey guys, do you have a problem where you try to save and budget your money, yet it still always isn’t enough. You try to figure out the problem but it still doesn’t make sense? Well, here’s 10 things you can apply to your life to save even more!
Eliminate Your Debt
If you are trying to save money through budgeting but still have debt, start with the debt. Why?
Add up how much you spend servicing your debt each month, and you will quickly see.
Once you are free from paying interest on your debt, the money can easily be put into savings.
Set Savings Goals
One of the best ways to save money is to visualize what you are saving for.
For example, you want to save for a BMW, you just visualize it to motivate yourself.
After that you can set a realistic target, how much you need to save every month to get the car in how long.
Once you have a visual and a plan, you can execute it!
Pay Yourself First
Set up an auto debit from your checking account to your savings account every payday.
Don’t care if its RM50 every 2 weeks or RM500 every month, just do it.
Don’t lie to yourself out of a healthy long-term savings plan and simply take out the money.
If you feel like you don’t have enough discipline and keep touching the money, try to apply for a forced savings plan, like an insurance with investment-linked plan.
Stop Smoking
You ever heard people say if you stop smoking you can buy a car? Well it is kind of true.
Let’s do some simple maths. 3 packs a week means roughly RM 50 per week. RM 255 per month and RM3,000 per year!
With that amount of money you can go for a nice holiday overseas!
If you smoke your whole life, you could potentially be wasting more than RM100,000 in your lifetime!
You can keep a jar and everytime you want to smoke, put RM15-20 inside the jar instead you will see the results!
Take a “Staycation”
It literally means stay vacation.
Sometimes, you don’t have to go far for vacation. Just stay at home and relax, find something fun to do in your own house!
If you want to fly or travel, instead of going overseas, you can actually vacation in Malaysia itself for cheap, plus you don’t have to convert your money!
Utility Savings
You can save on your utility bills by changing the way you live a little bit.
Instead of using the aircond, use the fan and turn it on high instead.
Even if you do want to use your aircond, did you know that by using power saver mode and don’t turn it on so cold, you can save 3-10% of your energy costs!
Pack Your Lunch
One thing people always do to save money is pack their own lunch to work.
If you go to a restaurant RM20 maybe still not enough, you go to a mamak also should be around RM10.
If you pack your own lunch, RM20 can last you the whole week!
Over the year, you can save thousands of ringgit in just doing this simple step!
