Since we were small, we had been taught that it is important for us to save our pocket money. We always put our coins or extra pocket money in the piggy bank and once it is full we will transfer it to our bank account. But now that we are old, do we put our extra money in the piggy bank, or do we spend them on unnecessary stuff?
We need to save money because in case an emergency happens like an accident or a sudden health issue we need to have extra money to help us. No matter what our job is, we all need to save money and be prepared for a sudden situation. Even the owner of construction material distributor Malaysia needs to know how to save money.
Here are some ways on how we all can save our money.
- Priority over needs
Once we have received our payment, we need to set aside all of the money that we need to pay all of the important bills. Like our house rent, car loan, students loan, etc. When setting aside all of our money for important payments we will have less need to spend our money on unnecessary stuff. It also helps us to pay our loans and not be in debt for a long time.
- Save the color
This is one of the tricks that a lot of people use to save up their money. Since the money came in a different color to represent the amount they will usually pick a certain color and save the color whenever they received that money bill on that color. For example, RM5 is in the color green so whenever you have or receive the green color money, you will save it and not use it no matter what. This way, it will make you want to stay discipline and save that money no matter what.
- Avoid going on an online website
Speaking from experience, whenever you are just browsing any online website store you will always end up paying for at least 1 item and you will be waiting for that parcel to arrive at your home. If there are no reasons for you to be opening that online website store, do not open them. Even if you said that you just want to browse around. Trust me on that! Usually, we will spend a lot of money on unnecessary stuff on the online website store especially, when we see that they are having a sale.
Before buying overpriced clothing items, have a look at the thrift store. You might be surprised at the quality of clothes and price that you can get at the thrift store. All you need is some fashion sense and confidence to rock that look. Nowadays, many people have opted to thrifting to buy clothes at a reasonable price. So go check out your local thrift store and who knows maybe you will get a great clothing rack at a great price.
- Track your spending
Every time we purchase something whether it is groceries, clothes, or other personal items we will receive a receipt of the amount of money we spend on. Do not throw these receipts away, instead use them to track all of your spendings and see if you can cut on certain things or look for a better deal. This way, you can always keep track of your money and be aware of what you are spending it on.