5 Essential Ways You Can Use To Save That Ringgit

Smart Ways To Save Your Ringgit

Struggling to look for ways on how you can save your money? With the ever dire financial situation in Malaysia, you’re not alone. Which is why we have compiled five ways for you to make the most of your hard earned Ringgit. The following money saving tips are:

Nothing like a home cooked meal

Tired of eating outside and having to fork out your hard earned cash? Start making a concerted effort in preparing home cooked meals. Choose to have breakfast at home instead or pack it and bring your lunch to make the most of your savings. Avoid the temptation to eat outside and cook your own dinner instead. Apart from offering you massive savings over time, packing your own meals also brings health benefits with it. Double the satisfaction!

Monitor your spending

Yes, while it may be inconvenient to track down all your expenses on a consistent basis, you will be surprised at how the little spendings can snowball and amount to something substantial. Listing down your monthly expenses in a concise manner can give you an understanding on where the most cost heavy ones lie and how to work around on reducing it. To help you do that in an engaging manner, be sure to download the many budget apps that are available for both the App Store and Google App Store.

Be more thrifty, go with generic brands

Let’s face it; you don’t really need the most expensive household items to get the basics done. Essentials such as powder detergent, cooking oil and toiletries may vary quite differently in prices depending on brands but more often than not they are similar in quality. Start shopping smartly to get the most bang for your buck.

Make smarter, spending choices

Don’t give in to your shopping urges. Yes, deals and promotions may be ever aplenty in Malaysia but you should practice discipline when it comes to your spending. If it’s not a necessity, and not something that you actually need (don’t fool yourself) then choosing to say no would be the smarter choice. Just because an item may be on sale doesn’t mean you should get it. This is ever more essential as the current economic situation in our country isn’t improving; the cost of goods just keeps rising!

Cut Access Expenses

Dread the feeling of looking at your bank account only to see your savings ever dwindling? It doesn’t have to be that way. Avoid the temptation to watch every blockbuster or Happy Hour sessions that your colleagues are into. Choosing to stay in every now and then can work wonders in helping you save some much needed money. Have a look at your social habits and monthly expenses to see where you can make adjustments (gym membership, more affordable mobile plan) in order to really stretch your Ringgit.