Money-saving...and not stinging on yourself. Money saving as in minimizing your waste and optimizing your wealth...stretching the dollar so to speak. Specially for the disorganized and those who can't save money......here's a few tips.
1) Just set aside a certain amount you're comfortable with for saving. Set aside first.
2) Do not withdraw anything more than RM250 per week. On average, a normal Malaysian would be able to survive with less than that.
3) Do not underestimate the 'duit syiling'. People tend to disregard it. A little goes a long way. Set aside a mug inside your car to save the syiling and use it to pay for toll, tea break.
4) Do not fold or crumple your dollars! Visual management is what is important here. Everytime you open your wallet to pay for something, you can quickly scan and estimate how much money you currently have, hence you can budget what you are allowed to spend for the week. (considering that you're following the RM250/week rule)
5) Skip drinks during lunch. Drink what's available in office after lunch.
6) Pack lunch. Seriously, now that we're so health conscious, most people rather pack their own lunch- something light, sandwich or biscuits or light yogurt. Beats having to drive out ( unnecessary toll money and parking money incurred) and eating rubbish in the end.
7) Monitor your expenses. You ought to roughly have an idea how much you spend in a month. If you're exceeding your ave on liquor or clothes, you ought to cut down to make provision for the next month. Get a notebook. Or for fark sake, make use of the pc if u have one. Make a spreadsheet.
8) I dont really believe in keeping bills and receipts. But perhaps it's a good idea to monitor ur expenses. I just worry about the accumulation...so..i think a spreadsheet is the best.
9) Pay your bills at the beginning of the month. The longer you procrastinate, the MORE you have to fork out for interest.
10) I know a lot of people who like to dine out. Hey dining out is fine. But then you have to weigh it against your earnings. Even rich people go to mamak ok. If your ave earnings allow you to a once-per-week great dining, well, then allow yourself that luxury. But if you're consuming more than you earn, time to hit the mamaks. Perhaps ais kosong when you go yumcha next time. And really nowadays, kopitiams are even cheaper than mamak. Iced Chinese Tea is only RM0.40 la.
11) Eliminate shopping. Really, I don't understand how some women can always manage to BUY something every week. Do we really need that much clothes? If you keep tabs of how many times you actually wear each garment..you'll be surprised. Use the money for something else!
12) Put your money on investment. For small beginners, start with Unit Trust.....
13) There's actually many cost-free activities to do. If you're one of those who's been hitting the clubs every weekend, well, maybe it's time for a healthy change. A breeze walk at the local park can be just as fulfilling. A swim? A gym-ing session at your condo facilities? People watching?
14) If you must drink, find a cheap place/pub to patron. Afterall, it's the company that matters, not the venue.
15) Sell your belongings. Another man's poison is another man's meat.
There's actually many ways to save money. The most important thing is to know your finances very well. Make a chart if you have trouble with numbers. If you can't manage your finances, you can't manage yourself. Start now.