There may be a perception that the cost of living causes some people to be unable to save and this is the result of some people’s perception that saving is only when there is more money or a large amount of money is needed. There is actually a way to save money even if your salary is small. What’s more, nowadays, the high standard of living, makes saving activities very difficult to do. At a time when many complain and give the reason of small or moderate salary as their main obstacle to saving. Where there is a will there is a way. Who doesn’t want to have extra money?
To be honest, in the current uncertain situation, we need to get out of our comfortable cocoon and be prepared for all possibilities, including dismissal. Saving money is our duty in this modern world. There are many ways and strategies that we can use to save money, even if our monthly salary is not big. Many continue to spend extravagantly every time they get a paycheck without saving even a little. If there is no savings, it is feared that we will not be able to face the unexpected challenges that will come. Malaysians need to have a financial plan and manage the examination of their respective financial levels by focusing on the level of need, total income, and total dependents.
Learn tips on how to save money even on a small salary.
1. Plan every expense carefully
The best way to prevent this problem from happening is to plan our expenses well and avoid spending according to our whims or simply according to our desires.
2. Separate expenses and savings
Example 10% – Savings, 10% – Emergency or 70% spending and make a schedule of these expenses every month.
3. Limit the use of credit cards
Use a credit card only for certain expenses such as filling up with petrol. In this way, you can enjoy the benefits of using a credit card and also not burden yourself with accumulating debt.
4. Store in a place that is difficult to remove
You can try to keep it near a place that is difficult to withdraw such as ASB, Tabung Haji or shares.
5. Need or Desire
Don’t be a slave to luxury goods. Don’t think long and keep buying even if you are in debt. Shopping according to needs and not just wanting to look great and luxurious in people’s eyes.
6. Add side income
The millennial era is now very easy to make money. Whether you do it online or offline, the important thing is to have knowledge in the business world so you don’t fall behind the times.
7. Discipline yourself
If there is no self-discipline, one will fail in what he set out to do. The planned plan must be implemented as best as possible.
If you don’t have savings yet, it’s not too late, do it now. Start with a small amount no problem. As long as there are savings to be used when the day comes when an unexpected emergency strikes. The fact is, maybe the saved value is only 10 cents, but if it is saved every day systematically, the amount that is only seen by one eye is actually able to shine in the future.