This is a follow-up post to my oldie but goldie Masterpost: How to save money in Malaysia article.
Many people try a variety of methods to save money, with varying results. But what they don’t realise is: while every little bit counts, a big splurge can easily offset those savings. It’s easy to make a big splurge if you’ve been skimping – your head justifies “I’m already saving money via X, Y and Z. I can afford to make this more-expensive-than-average purchase”.
There are a few rules of thumbs when it comes to where to splurge and where to skimp. It’s a very individual decision, everyone values different things. Here are some of the ‘rules’.
After more than 10 years of being a die-hard prepaid advocate, I finally switched from prepaid to postpaid.
Here’s why (Hint: cheaper for me; proof provided)
In my Masterpost: How to save money in Malaysia article, I gave examples of what I personally did to save money. Some were successful, some were not. I thought it would be fun to list all the ways that I tried, and give them a rank. There will be four levels: easy, medium, hard, and impossible.
Note: This is not a comprehensive list of all the ways to save money in Malaysia. I don’t know much about how to save money on home ownership, for example, or how to save money for families. Regardless I think it can be a good start 🙂
Ways to Save Money in Malaysia
I talk about money and currency all the time – things that are valuable; that has value. Beauty has value as well, and this post is all about that.
Makeup and skincare are something I took up seriously early on, but never really mastered. I’m still navigating this world. Some women are really good at it, and I salute them. If you don’t, it’s worth trying – wearing makeup (or at least good at grooming) may help you to earn more money, according to this research. There is financial benefit in being more attractive, so why not? Worth noting: the effect is similar to men, albeit a smaller boost.
I have 5 general rules when it comes to beauty. It may help you, it may not, but this is what helps to make beauty affordable to me.
First off, here’s a cool infographic on sample budgeting if one earns RM3,300 a month, with no dependents. The infographic is brought to you by CompareHero! Recently, they published my article on Bitcoin Debit Card Guide for Malaysians, so I’m returning the favour 🙂 It’s not hard, because I’m a big fan of their infographics in the first place.
Related: I wrote about my own actual monthly budget when I was earning RM3,500 a month.
Scroll down for infographic. My experiment on living paycheck to paycheck is under the infographic.
EDIT 7 Oct 2015: As of time of writing, Shopback offers 10% cashback on Qoo10 purchases, not 12%. Still, 15% savings is still not bad 🙂
EDIT 12 Dec 2015: There’s an ongoing promotion – be among the first 150 to use Mastercard, get double the cashback!
This hack involves a couple of things, but if you use prepaid, this is going to BLOW your mind. I’m going to help you save 17% off your prepaid cost!