Saving money: those two words that every adult must confront at some point or other in their lives. For some, saving money comes naturally – but it’s important not to compare your progress to others’ in this regard. Knowing how to save money can be confusing, especially when you have no idea where to start. Also – saving money doesn’t have to mean giving up everything you love in the name of your savings. You can still splurge on that pair of shoes, or sign yourself up for that weekend workshop. Saving money is all about being firm about your goals, yet knowing when’s the right time to treat yo’ self. Here’s five simple ways to get to saving those $$$ while still living your best life!
This may seem like the most obvious way to save money, but… budget!
There are a ton of budgeting apps out there, so if you’re the type that’s more dependent on technology for your daily life – get on the App Store or Google Play and check out the plethora of budgeting apps that are on offer. These apps can help you set a spending limit for different areas of your life, and can send you reminders if your spending is going over-budget. If your idea of budgeting is a bit more old-school, separating your cash into different envelopes is also a great way to budget. Setting aside 10% of your salary in an envelope is an easy way to make sure that you’re saving at least a little money every month. Of course, not touching that envelope once you’ve put money in it is the harder task…
Go for water at restaurants rather than fancy drinks.
Luckily for those of us living in Malaysia, going out to eat doesn’t necessarily have to break the bank. There are plenty of budget-friendly options out there, but if you’re going out to eat regularly, the cost of eating out can get a bit out of hand. One of the best ways to limit unnecessary spending when you’re going out to eat is to make it habit of ordering plain water instead of a more expensive drink. While it may seem like you’re only saving a negligible amount, remember that these hidden costs add up.
Set visual reminders of what you’re saving up for, to remind yourself.
Oftentimes, the reason why we slip and end up spending out of our savings is because we don’t have a set goal of what the money is for. Knowing what you want to save up for is a great way to remind yourself of why it’s important – and can help strengthen your willpower in crucial moments! If you’re saving up for a vacation, maybe put a picture of your dream vacation spot in your wallet as a visual reminder of why you maybe shouldn’t make that impulse buy.
Be a smarter shopper!
There are plenty of ways to look like a million bucks without having to, well, spend a million bucks. Instead of heading to the mall and paying the full price for brand-new items, try browsing through Carousell or Shopee for pre-loved alternatives. Another smart move is to take full advantage of loyalty programs and deals available at your favourite stores. Most stores have loyalty programs or point systems, and if you play nice, sometimes the people working in those stores will help you get the most out of the deals offered. Alternatively, you could wait until the item you’re coveting goes on sale – but let’s be honest, who’s got the time to wait?
Stop paying for the gym!
Home workouts are an underrated way to save money – you save on transport getting to the gym and you save on the membership (and those sneaky hidden fees)! Working out at home allows a certain amount of flexibility (hah!) with regards to the type of workouts you can do; you can create your own workout routine or you can head to YouTube for an endless selection of great home workout tutorials. I personally love Blogilates for their wide selection of workout videos. There are videos with exercises to target specific areas of the body, and workouts of varying difficulties, so no excuses even if you’re a beginner!
Looking for ways to increase your income? Read our guide on 5 things you should consider before getting a second job.
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