3 Money Saving Tips
How is your savings plan faring as 2023 approaches?
If you want to say goodbye to the fate of not having enough money every month, you can start learning bookkeeping right away, which means recording every expense every day so you can have a better understanding of your expenses.
Looking through the books, you’ll notice that a lot of money is spent on luxuries rather than necessities. A snack, ice cream, or a cup of Starbucks coffee in the afternoon, for example, are all examples of luxury goods. You can move from one Starbucks coffee per week to one every two weeks, and so on.
Furthermore, those who living paycheck to paycheck can begin to learn the rules of spending and saving money. The so-called spend and save rule states that whenever you buy something, you must also save the same amount. For example, if you eat a RM15 lunch, you will also save RM15.
Furthermore, you can learn how to save money with RM5 or RM20. The law requires you to deposit any RM5 or RM20 notes you receive. Only RM1, RM10, RM50, and RM100 notes are accepted. You can deposit money into the bank once a certain amount of banknotes has been deposited.
To summarise, there are three ways to save money: bookkeeping, consumption, and saving, and the 5 or 20 ringgit saving method. You can select the best saving method for you and begin planning for your future. Money is only truly yours when you save it. You can deposit money into the bank once a certain amount of banknotes has been deposited.
