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Do you always find yourself super broke before the end of the month and struggle to go through the last week or two with whatever you have left?
Or maybe you’re able to manage that much but realise that you don’t have any savings, emergency funds or even spare money to buy certain stuff like a new phone.
Welp, it’s never too late to start. Here are a bunch of ezpz things you can do to save up and make sure you actually have money for tomorrow:
#1 Create a REALISTIC budget; don’t lose track of it
There are different categories you can add to your budget format to make it personalised…but most importantly, workable! Don’t try those extremely strict budget of spending RM20 a week on food only because that’s not realistic.
Think about how much you can spend per meal and multiply it with an average of 30 days a month. Then, don’t forget to keep track of the actual amount you’ve spent either. You might find yourself spending lesser money when you keep track of it.
#2 Understand if you NEED it or WANT it; don’t mix these two up
You want a lot of things in life, but do you really need all of them? To be clear, you need a smartphone, but do you need the most high-tech and expensive smartphone? And do you need to have the latest one every year?
Let’s look at food instead. Do you need to eat that fancy café every day or is a humble plate of nasi campur sufficient? You gotta space out your priorities and spend where you can. Of course, that doesn’t mean you can’t splurge every once in a while lah.
#3 Make plans when you’re going shopping; don’t just wing it
Lists may seem like such a boomer thing to do but you don’t have to go all old school and use a pen and paper. Just type it in your phone. Why this is important is because you won’t forget to buy whatever you need and also reduce the possibility of picking up items you don’t need.
#4 Say no to friends; don’t cave in and go out all the time
FOMO is a real thing…we know. But you gotta understand that there’s nothing wrong with being left out sometimes. Just take it as the perfect “Me Time” and focus on yourself instead. You’re keeping yourself emotionally and financially well, ya know.
#5 Ask the pros; don’t be blur blur
You don’t know everything about finances and it’s totally cool. You just gotta take the brave step and check out how the pros do it. Follow those personal finance guru IG pages, watch some related TED Talks and more.
Check in with your more successful friends and family to see how they manage their stuff too. If you’re still unsure, then consult a trusted financial planner!
#6 Create an alternative account to keep your savings; don’t lump everything together
If you’re able to open your own bank account, create one for your daily spending and another where you can’t touch. That way, you won’t ever accidentally overspend, and you’ll be able to keep your savings safely.
Alternatively, if you can’t open a bank account or if your parents don’t want to help you with it, then you can just get a piggy bank where you have to break to get into. Every time you put money into it, just record how much goes in. When it’s full, get a new one!
#7 Keep clear of credits cards and loans; don’t simply sign up for one!
This is the ultimate blackhole for people who can’t manage their finances properly. If you’re already unstable with your budgeting and self-restraint, signing up for a credit card or personal loan basically spells trouble.
There are loads of terms and conditions to them and you might find yourself owing much more than you intended to. So even if you’re really sure you can manage, make sure you do your research first.
In the end, what’s most important is making sure you’re financially independent so that you can have a brighter future. That might sound kinda like a naggy like from your parents, but it’s sooooo true.
Though money isn’t everything, a lot of things do require money. It’s never too late to start anew too! Just take baby steps and soon enough you’ll have lots of savings.