We laugh at the people who pack food from home for lunch, we scrunch our noses at those who cut out discount coupons from magazines but when that rainy day comes to break the bank, it’s these people who are getting the last laugh. Over 40% of individuals facing bankruptcy are in their 20s thanks to uncontrolled spendings contributed by credit card debts. How many of us are dumbfounded by our monthly statements and bills, only to repeat this mistake month after month.
There is nothing wrong with treating yourself to a new pair of heels or some fine dining every once in a while but it’s important to identify where you can make small savings without compromising your needs. Whether you’re fresh out of college or a mother of three, these tips will help keep your bank account balanced and healthy!
Paying for brands
While you’re out grocery shopping, note that the more expensive products are always placed at eye level while the cheaper products are always at the bottom. Try purchasing house brands for products like toilet paper, oatmeal, washing detergent and much more at much much less and you might be surprised that they work or taste just the same. What you’re paying for when purchasing for pricier brands are the advertising and packaging costs.
The swankier your car, the more heads it turns but really, is it truly worth it when you’re paying through your nose every month for something when you can get a more wallet-friendly vehicle that does the same thing, which is getting you from one place to another? Opt for a car that fits your needs and income. Also, most cars are designed to use regular gas so filling them up with premium fuel will not improve your car’s performance. Just make sure you change your oil, monitor your tire pressure and service your vehicle regularly for optimum performance which means less trips to the mechanic!
Switch off before you go, go
This applies for electrical appliances. There are many devices plugged into your wall outlets that continue to guzzle electricity even without being switched on. Make it a habit to unplug your appliances when not in use, not only will you be seeing a difference in your electricity bill but also save them during a sudden storm!
Many of us have the mentality that quality comes with a price and it’s definitely not low but stores like the 100 Yen store and Daiso carry a wide range of high quality products from kitchen plates to neckties to makeup tools, all at only RM5. While it can be easy to fill up your basket fast do note how much you’re ready to spent and only buy what you need. Though most items are cheap, some items might actually be cheaper at hypermarkets.
You need cash ASAP but there’s no ATM of your bank in sight so you use MEPS cash and there goes another ringgit. While it may not seem like a lot of money but it can amount to a nice meal or a dress you’ve had your eye on, within a year! The same goes for service fees which you pay when booking movie or concert tickets online.
Yes, yes it’s a bit silly to keep a stash in your wallet or purse and we’re all afraid that someone will catch us with them lest we want to be called cheap but holy moly have you seen the queue at McDonald’s on coupon redemption days? Don’t worry, Malaysians are cheap otherwise group discount sites won’t thrive as well as they do.