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Tips To Saving Money Part 1

Saving money has been a part of human culture since the concept of money came to exist. It has been a tradition that is ingrained into not only adults but kids also. And with the recent global pandemic Covid-19 teaching us the importance of saving money and having something saved up for rainy days, it has only proved how much more crucial it is for us to make a habit of this practice. And though I keep emphasising the importance of saving money, I understand how difficult it is. Hence, allow me to offer some tips on how to save money. But before that, come on over and open your own personal account for internet banking in Malaysia

Tip 1: Save Your Change

Probably one of the easiest ways to save up your money is by simply not using any of your loose change. As long as they are in coin form, you remove them from your wallet and put them into your piggy bank. This way, it won’t even feel like you’re losing much as they are all just shillings. Every time you find yourself having any loose change, just dump it into your piggy bank and completely forget about it. This is an easier way as you’re not required to make any conscious effort to actually save your money. You are simply putting your loose change in another location. An added bonus tip I can give you is to seal your piggy bank until it is completely full. This can stop your temptation of taking any money out from it, which enables you to save up more. 

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Tip 2: No #1 For No One

Now, this is another way you can save up our money, and it’s simple enough to understand. Remember how I said you should not use your coins and instead save them all up. This is similar to that concept, except that you’re saving up your RM1 bills. Not only does this enable you to save up much more in a shorter time, but it can also teach you the value of money. When you see your cash dwindling down much quicker than usual, you will come to realise that you must be more money-conscious when you spend. 

Tip 3: 52 Week Challenge 

Now this challenge is something I’ve heard of from my friends. It’s a challenge that requires you to save only once a week. Easy enough, isn’t it? Here’s the catch though, the amount that you are required to save is fixed according to the number of the week. For instance, in week 1, you would be required to save RM1, and for week 2, you would be required to save RM2 and so on. 

This also means, in week 52, you would be required to save RM52. So while this is an effective way to save up your money, it can be burdensome for people who find saving money a challenge. Nevertheless, I urge you to look at the bright side, as by the end of those 52 weeks, you will have a large amount of money. This means you will be able to collect a total of RM1378 in one year.