Remember that list of new year resolutions you came up with? Good for you if you made it a point to save more money in 2020. But have you really done so? Saving money isn’t the easiest habit to adopt, especially with all the temptations surrounding us. And we know how hard it is to live in the most expensive city in the world, so here are some tips that we have come up with to help you save more for the rest of the year:
Set A Concrete Goal
It’s difficult to save when you have no idea what you’re saving for. Having a concrete goal to work towards, like buying a new car or simply having RM5,000 more in your bank, makes saving a much easier journey than you’d realize. Break your big end-of-year goal into smaller parts and decide how much you should save each month.
Tip: Make sure your goal is realistic. Having an impractical goal can put unnecessary stress on yourself and make you lose motivation.
Expense Tracking Apps
At the end of every day, take a few minutes to recall and record down how much you have spent. There are many mobile applications that you can use to track your spending. These applications usually give you an overview of your spending to judge your decisions. Read our expense tracker guide to find out more!
Having a piggy bank may sound childish but it’s a really easy way to save more money! Simply empty your pockets of loose change every day and watch your money grow bit by bit. It’ll even save you the hassle of carrying a heavy wallet that’s full of coins. You’ll really be surprised by how much you can save with a little input every day. Places such as Taobao have various designs you can choose from!
Note: You can watch your money grow with a transparent piggy bank.
Read On Mobile Devices
E-books can be read from most smartphones these days. They are significantly cheaper than paper books and you can read them anywhere without carrying any additional weight. By doing so, you’re doing your part to save the environment too! Places such as Book Depository offer a wide selection of eBooks you can read at any time.
Needs vs Wants
We all have difficulties with that fine line between a need and a want. Sometimes, it’s hard to even draw the line. Other times, we simply ignore the existence of it – and that is where impulsive buying comes in. Curb your urge to splurge because impulse purchases usually end up as a waste of money. Before spending your money, especially on a big-ticket item, give yourself at least a week to think about it. An extended period of time will allow you to do some rationalizing on the necessity of spending.
Shop During Sales
What better way to shop than during a sale? Seeing those red signs up everywhere, slashed prices, and amazing promotions definitely make one reach for his or her wallet unknowingly. Why buy full-priced items when you can wait for a sale? Go home with your purchases, and a fuller wallet. Checkout how to save money while shopping online here.
Getting paid to shop isn’t a myth – ShopBack does exactly that!
For every purchase you make online (after clicking through ShopBack’s portal), ShopBack gives a percentage of your purchase amount back to you as Cashback! Earn up to 30% Cashback whenever you purchase items from over 500 of your favourite brands that are available on our site. Simply go to ShopBack, click on your desired merchant and begin shopping. It really is that easy!
Not only does ShopBack offer some great percentage of your Cashback, but it also provides some great deals and promo codes on many online merchants!
Furthermore, we’ll send you pretty newsletters to inform you of the discounts that are going on and your monthly Cashback updates. Pretty cool huh! Best of all, our service is completely free! No sign-up fees or monthly payments. The smarter way to shop is clear – with ShopBack.
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