Saving money might seem tough - especially with rising living costs, bills, and daily expenses. But even small changes in your financial habits can make a big difference over time. Whether you're earning a fixed salary, freelancing, or studying, these practical money-saving tips are tailored for Malaysians.
Track Your Spending
Before you can save, you need to know where your money goes. Use budgeting apps like Money Lover, Expensify, or even a simple Google Sheet to monitor your daily spending. You might be surprised how much goes to things like delivery charges or impulse buys.
Plan Your Grocery Shopping
Make a list - and stick to it. Avoid buying things you don’t need. Look out for "Buy 1 Free 1", bundle deals, and seasonal promotions at supermarkets like Tesco (Lotus’s), Giant, or AEON. Also, consider buying in bulk for items you use regularly.
Cook More at Home
Eating out or ordering in daily can drain your wallet. Preparing simple meals at home not only saves money but is also healthier. Even bringing lunch to work can help you save RM200–300 per month.
Review Your Subscriptions
Cancel any services you don’t use - Netflix, Spotify Premium, gym memberships, mobile plans. Ask yourself: "Do I really need this?" Switching to prepaid or a lower data plan can save you a lot monthly.
Set a Monthly Savings Target
Treat savings like a bill. Decide on a fixed amount (e.g. RM200) and automate the transfer to your savings account right after payday. Even small, consistent savings can add up over time.
Use Cashback & Reward Apps
Make the most of apps like ShopeePay, Touch ‘n Go eWallet, Fave, and GrabRewards. Cashback, discount codes, and points systems can give you small wins on everyday purchases.
Find Extra Income
If you have a skill - writing, designing, tutoring, or baking - consider freelancing or part-time gigs. Websites like Mudah.my, Upwork, or Fiverr can help you get started. Every ringgit earned is one less you need to borrow.
