Needless to say, we have all been feeling the pinch from the introduction of the GST, toll hikes and fare increases. The cost of daily living has increased tremendously and for many it is no longer just a pinch but a deathly squeeze. Here are 5 Ways To Learn How to Save Money From The Pinch and make it stretch slightly further for you.
#1 Pack it
If there is one thing Malaysians can all agree on is our love for street and hawker food. It is cheap, tasty and offers a myriad of choices daily. However, as a result of all the taxes and hikes, eating out is no longer as cheap as it used to be. A simple satisfying meal that once cost about RM5 not too long ago, can now be close to RM8 or more. Plan your meals ahead and pack your lunch from home at least three times a week to stretch your budget.
#2 Go generic
Honestly there really isn’t much difference between a generic store brand product and a branded product except for the pricing. For daily products like detergents, cleaning liquids and kitchen towels, pick store brands instead of fancy brand names. The price difference may seem minimal at first but over time they can add up to quite a hefty sum.
#3 Track it
Very often, towards the end of the month, many people start lamenting that they haven’t a clue where their money went. When you are not keeping track of your expenditure it becomes super easy to over spend. There are various apps available now that can help you monitor your spending so you can see clearly what you are spending your money on and eliminate those that are not really worth the money that you are spending on it.
#4 Go green
No doubt in Malaysia, most green products are more expensive than regular products. However, instead of always buying something new, one of the easiest ways to make your ringgit stretch is by buying a preloved item or recycling. Some cafes about town also offer discounts if you bring your own containers or tumblurs
#5 Cut it
Many times we fail to properly consider if we really need to purchase an item or if we are still using a subscription etc. Assess all your monthly expenditure and cut out stuff that isn’t necessary. Be as brutal as you can when making the cut as you will soon see how liberating it is to just live with what you need and not be encumbered by countless fads.