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Tuesday, December 25, 2007

Rise of The Price : How I Save Money

We'll be expecting the fuel price rising next year if the government decides to trim back the oil subsidy that we enjoy now. By then, all the price of the consumer goods will soar so high it will make our heads spin. At this moment, I already feel the heat - Gardenia Bread cost me RM2.10 now instead of RM1.90, Karipap is at RM0.40 nowadays, and Nasi Goreng Kampung (Fried Rice) increased to RM4.00, I enjoyed at the price of RM3.00 last year. Even TNB wanted to rise up the electric tariff, make a proposal, came up with lame excuses and waiting for the goverment's approvals.


So I came up with the ideas to write about saving a money, my own way. I need to save money right now to fight inflation, price hike, and indeterminate future.

1.Change my lifestyle. I rarely dining out nowadays, go to cinema once every two month, and stopped chasing after luxury clothes and items.
2.Cook my own meals.Fried Rice =RM 4.00, Homemade fried rice = RM 1.90
3.Go For RM1 Nasi Lemak. This nasi lemak is for breakfast. If I'm getting late, and doesn't have time to cook.
4.Bring Foods From Home. Forget lunch out. I can save RM400 a year by doing this.
5.Shopping at Carrefour, Tesco, Giant, Econsave or other big supermarket. I buy in bulk so it saves me extra ringgits. I also buy cheap on foodstuff like fish and chicken at Carrefour, Alamanda every saturday morning.
6.Buy fuel efficiency car. I bought Kelisa and she can goes RM10=130kM. I heard Honda City i-DSi consumes RM10 for 150KM.
7.Check my Car's health. I make sure the car maintenance is on the right schedule, keep the tyres inflated.
8.Drive at a consistent speed. Avoid high acceleration and hard braking.
9.Quench my car's thirst at Shell.
Totally proven as the best fuel for better kilometres.Plus, I get 5% rebate when using Shell credit card
10.Buy clothes at 50%-70% off only. Usually my t-shirt cost RM15 - RM20. I often buy my trousers below RM50.00
11. Buy clothes at Pasar Malam, or Night Market.
12.Buy second hand items at lelong.com.my or ebay.com.my. I buy Jeffrey Archer book for RM3.00, Motorola V3i for RM250.00 and many more.
13.Unplug home appliance when not in use.
14. Dump light bulb and use CFL Bulb instead. See this.
13.Use light night that only eats up 1 watt of electricity when I sleep at night.
I bought it at Carrefour for RM 9.00
14.Pay bills online. Save time. Save money. Save fuel.
15.Pay bills on time. I want to avoid extra penalty charge when its overdue.
16.Use credit card to buy groceries. Don't get me wrong. I use it for daily expenses because I want to accumulate reward points. Maybank VISA card rewards you points to redeem, RM 1 = 1 Point. So my strategy is to buy on credit and pay off all the balance within 20 days of free-interest period. That's how I got a backpack for my wife.
17.I betrayed MAXIS. I signed up for Happy. 99sen for an unlimited call. This is madness!!. It's too damn good.
18.Borrow DVDs instead of buying it. I borrow DVDs from my friends and my siblings and then they keep asking me when will I ever buy DVDs so they can do the same.
19.Cancel ASTRO TV Cable subscription. I only watch TV for 2 hours a day. I spend most of the time surfing the internet.
20.Utilise auto-debit for saving purpose. My salary account is automatically deducted into ASB unit trust account. So I don't have to worry about pay myself first.
21.Set savings goal.
I plan to raise my money to RM40,000. All I need to do is to save RM100 a month for 15 years (the growth rate is at least 10%).
22.Start Investing. Recently I invested some of my money in Public Mutual Fund. I dug out my ASB unit trust to put money into this fund.
23.I stick to my budget.





2 comments:

Anonymous 3/24/2008 9:53 PM  

Nice approach on how to save money, thanks for our advice..

Anonymous 7/14/2008 3:24 PM  

ur note no. 6 not sure its true. I own both honda idsi and kelisa(auto).. it save my pocket a lots :)

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