Do you ever feel that it’s difficult to save money, no matter how hard you try? Despite your best efforts to limit your spending, something always unexpectedly arises. Well, we realize it’s difficult to save money when adulthood begins, but it’s a must because… no money, no future (no shade, just the tea).
With all the convenience afforded by online shopping and on-going sales everywhere, our fingers are excitedly hitting the check-out button on at least five different items a week that we may end up in financial ruin. The truth is, saving is hard, but not impossible. To help you out, we’ve listed 8 easy ways you can save up, starting today.
Similar to losing weight, saving money is a lifelong cycle that calls for discipline, work, and tenacity. You don’t have to promise to save a significant sum to begin with. Start small instead. You can try saving RM50 for a start and gradually increase the amount once you get the hang of it.
Record Your Expenses
Keep a daily journal of your spending. Receipts aren’t just pieces of paper that add weight to your wallet every few days; rather, you should consider them as a reminder of your spending every time you pull out your wallet. You’ll probably be better prepared to consider how much you need to save if you have a clear understanding of just how much you have spent.
Set your priorities straight and write down all of your monthly financial obligations, such as your phone bill, student loan payments, credit card bills, and more, along with the amount you plan to set aside for savings. You may maintain discipline with your spending by becoming aware of where your money is going.
Cut Back On Take Out
You’ll still find yourself paying at least RM5 a day on a meal you can easily prepare at home, regardless of how inexpensive the lunch deals are. Start making an effort to pack your lunch from home and incorporate healthy ingredients. In this manner, you can save money and lose weight at the same time! The best options are still soups because they are simple to prepare, especially in a hot pot, and you can use practically anything you have lying around in the freezer. Don’t forget to stock up on vegetables as well!
Cancel Unused Subscriptions
Examine your monthly statement to see if there are any expenses you can do without. Get rid of the pricey gym membership you hardly use and switch to a more affordable pay-per-entry facility or home exercise instead. You don’t need a magazine subscription either because the Internet is your best buddy.
Make Your Coffee/Tea At Home
We are aware of your desire for your daily dose of caffeine, but you may save a lot of money by being stingy with expensive coffees. Store-bought coffee can cost as much as RM15 for one cup, not including lunch. Instead, get a coffee machine for your home and prepare some for yourself at work or to take with you.
It’s simple to justify spending money to cheer yourself up after a difficult day, but it’s almost never a good idea. It could be a good idea to find another strategy to relieve tension because you’d end up with items you don’t actually need. Consider doing something you truly enjoy, like painting, working out, reading, relaxing, or practicing meditation.
Find A Cheaper Supermarket
Compare prices at various supermarkets and avoid the expensive choice. Once you’ve established your preferred grocery store, make a note of the days of the week when the highest discounts are provided. That way, you’ll always save money. It also helps to buy generic versions of less important home essentials.
Travel On A Budget
When you’re overcome with wanderlust, budget your trip expenses and plan ahead to get the greatest bargains. Instead of staying in a luxurious hotel, you can choose a hostel. Alternatively, you might dine cheaply and use the additional money to book more once-in-a-lifetime activities.