The first half of 2022 is almost over! How is your savings plan?
The first half of 2022 is almost over! How is your savings plan?
If you want to eliminate the fate of not having enough money every month, you can begin learning bookkeeping right away, which entails recording every expense every day, giving you a better understanding of your expenses.
Accounting reveals that many expenses are spent on luxuries rather than necessities. An afternoon snack, ice cream, or a cup of Starbucks coffee are all examples of luxury items. You can go from one Starbucks per week to one every two weeks.
Furthermore, the those living paycheck to paycheck can begin to learn the rules of spending and saving money. The so-called Spend and Save Rule states that every time you buy something, you save the same amount. For example, when you purchase a RM15 lunch, you also need to save RM15.
You can also learn how to save RM5 or RM20. The rule is that you save any RM5 or RM20 notes you receive. Only RM1, RM10, RM50, and RM100 notes are accepted. You can deposit money in the bank once the banknotes have been deposited to a certain amount.
Finally, there are three ways to save money: bookkeeping, consumption, and saving, and the RM5 or RM20 saving method. You can begin planning for your future by selecting the best savings method for you. Only when you save money does it truly belong to you.
