50 Ways to Save Money in Malaysia, From Easy to Impossible

Ways to Save Money in Malaysia

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

1. Pack lunch to work

Level: Easy

Why: Back when I still had my office job, I’d bring packed lunch to work almost every day. This saved me tons of money – assuming lunch is a modest RM6 every day, I saved RM132 per month (22 days x RM6) or RM1584 per year.  

Packing lunch is simple. When cooking (usually dinner), make more than what you need, then turn leftovers as lunch for the next day.

For those of you peer-pressured into going out for lunch, can you do me a favour and share how you say no to invitations? I always feel a bit awkward ley. 

2. Avoid bank fees

Level: Easy

Why: I check my online banking accounts at least weekly for transactions made during the week (to make sure I wasn’t charged anything that I’m not supposed to pay for) and pay off credit card balance. 

ATM fees sometimes I pay though. If the line is too long. I figure RM1.06 is worth the 10 minutes mindless queue, unless I can multitask during the wait.

3. Switch off unused devices when I don’t use them

Level: Hard

Why: Bad habit. To be fair I don’t have too many electrical appliances. Thank goodness I don’t have a TV, but if I do it’ll probably be on all the time.

4. Use cashback products

Level: Medium

Why: Sometimes a bit hard to keep track of them, but here’s all cashback products that I have: Shopback (note: referral; for Lazada and travel purchases mostly), credit card (5% off online purchases), loyalty cards (AEON, Tesco), and points card (BCARD). It’s hard to calculate exactly how much money I saved with cashback products, but I used Shopback roughly for a year now and here’s my cashback information. Not bad right.

I’ve used Shopback for my travels too. See how I used it for my Krabi and Osaka+Kyoto trips.

ways to save money in malaysia

 

5. Use menstrual cup

Level: Medium

Why: People with uterus, hear me out. You can save so much money if you switch to a menstrual cup. I buy maybe one pack of 10 pads every year, just for ‘in case’, but otherwise my menstrual cup paid for itself a long time ago. Mine was about RM80 (please get the quality one not the China one), made of medical-grade silicone and pretty comfortable once used to it. Assuming you spend RM15 a month for pads/tampons, and the menstrual cups lasting 10 years, you’ll save at least RM5000. Can go travel with that money you know.

Image credit: fleurcup.com
Image credit: fleurcup.com

 

6. Delay purchases

Level: Medium

Why: My impulse purchases are quite rare, unless its food and groceries. For non-food items, if I really like something, I allow myself to buy them if I still remember it months later (usually I forget though).

I can credit to the 30-day rule, which I heard about sometime ago. According to this rule, if you want something bad enough, you’ll remember it 30 days later. If it’s a big purchase, you can extend this to a few months. So far, it works.

 

7. Small wardrobe

Level: Easy

Why: When you grew up fat, you tend to not like looking for clothes so much. I also don’t care much for fashion tbh :/ If you’re a fashionista, you can still have this hobby – just make sure that you make extra effort in other money-saving areas.

 

8. Thrifted clothing

Level: Easy

Why: I love Mr Musashi <3 I wrote about my hauls here and here. Mr Musashi is a franchise thrift shop, mostly available in Perak. The addresses are in the first link. They have the rare winning combo: clean+cheap+dressing room to try stuff.

Now that I’m back in Klang Valley, I love Jalan Jalan Japan.

 

9. Repairing clothes

Level: Hard

Why: Don’t particularly enjoy sewing..

 

10. Bring water bottle everywhere

Level: Easy

Why: Already become habit. This is one of the best things you can do for your wallet, skin, health and environment.

 

11. Quit smoking

Level: Damn hard

Why: Nicotine dependence. But I have to, because it made my teeth ugly!

 

12. Low-cost entertainment

Level: Medium

Why: I like free/almost free entertainment. Being online is fun and cheap. Free content is amazing. 

 

13. Sell stuff I no longer use

Level: Easy

Why: I had a lot of success selling unused stuff. Once, I bought a secondhand Wii, played it to my heart’s content, then managed to sell it for more than what I bought it for. There seem to be lots of ads now for app-based selling platforms. They’re good… but I’m still a big fan of old-school Lowyat Forum Garage Sale.  List them, bump it periodically, and wait for buyers.

 

14. Not having a car

Level: Hard

Why: When I had a car, there were so many things to pay for: maintenance, petrol, tolls, parking. It also broke down a couple of times (once, on the way to Genting, I had to pay RM500 for towing!), screen shattered due to stray brick on the highway, flat tires… I don’t miss those times. Now I mainly depend on public transport, Grab (note: invite link) and Uber (my code: surayazue). The downside is not being able to carry stuff easily – especially annoying when grocery shopping.

 

15. Plan meals around sales

Level: Medium

Why: It was easier previously, but now that I have a restrictive diet (keto), sometimes I have no choice but to buy stuff at full price. Thankfully I’m semi-vegetarian, if not my food will cost a lot more. Cheap keto staples: eggs, konyaku noodles, coconut milk, sugar-free jam, tuna, mayo, vegetables. Pricier keto staples: butter, cheese, cream cheese, good quality coconut oil.

 

16. Have a herb/vegetable garden

Level: Impossible

Why: Not lucky enough to have green thumb, and not motivated enough to learn at the moment.

I like the idea of aquaponics, though. It’s a garden on top of an aquarium – the waste produced by the fishes becomes the nutrients that the plants need. For take-home aquaponics kits, check out PopTani – A Farm in Every House.

Image credit: bfm.my
Image credit: bfm.my

17. Extremely picky about annual memberships

Level: Medium

Why: The only memberships I pay for is AEON card and Malaysian Writers Society membership fee. The former is for the free points and sales (not sure if worth it tbh) while the latter is for my writing business.

 

18. Limit automatic monthly recurring payments

Level: Medium

Why: Current monthly recurring payments: ASB loan (RM300+), Medical card (RM120+), PA insurance (RM30+). Used to donate to UNICEF but I got turned off by their aggressive requests for more donations so I cancelled it.

This is something that I’d love to hear from you. What’s your monthly recurring payments? Please comment!

 

19. Only use prepaid phone plans

Level: Hard

Why: I get tempted to upgrade to postpaid all the time. It can be worth the money, I agree. However I love the idea of only paying for what I use, and my usage is not consistent enough to warrant this commitment. Some months I barely use my data quota, so it’s just RM30 or less. Other months I use more. It balances out.

Edit: I switched to postpaid. Here’s why.

 

20. Not really into festivities or holidays

Level: Easy

Why: I’ve never really been a Valentine’s Day person, or Hari Raya person, or any other special day really. Not being in celebratory mood saves me money on decoration costs, clothes, single-use props, and other stuff that makes the day special. This has tons of downside (i.e. being a killjoy), but this is my natural state.

 

21. Buy generic brands

Level: Hard

Why: For some reason, generic brands in Malaysia is both expensive and disappointing. In my experience the Giant ones are just sad. The Tesco ones are a bit better, but not by much. It’s much more satisfying for me to get the good quality stuff and use it sparingly. My small bottle of eco-friendly clothes detergent ended up lasting much longer than the huge bottles of generic ones. The only acceptable generic product that I buy is Tesco’s canned tuna.

Question for you: Which generic products do you buy, and are they worth it?

 

22. The more advertisements they have, the less likely I purchase it

Level: Easy

Why: It’s a simple way of determining which brands have ridiculous jacked-up prices. I don’t buy Dove, Milo, Calpis and the majority of food and beauty products advertised on TV/YouTube.

 

23. Avoid the mall

Level: Impossible

Why: Enjoy window-shopping too much to quit. This is easier with delay gratification habit (See No 6).

When I was younger – like primary school younger – I remember feeling dissatisfied if I ever go to the mall without getting anything. I was a brat.

 

24. Check every receipt and change received, and scan the register

Level: Easy

Why: Habit – highly recommended. Once this ice cream guy stiffed RM10 from my change and only gave it back after I confronted him. Made me realise that people and machines can make mistakes or be downright unethical.

 

25. No magazine subscriptions

Level: Easy

Why: Most content I want to read is free anyway

 

26. Make rent cheap/affordable

Level: Medium

Why: When I lived in KL, I used this strategy to strategically reduce my monthly rent. In Ipoh, I live in a flat. I have housemates/ people to share bills with. Rent shouldn’t take more than 30% of your income. For me I try to make it less than 10%.

I’m terrified of mortgages. 30 years is a long, looooong time. Plus you end up paying more interest payments than the actual price; what’s up with that?

 

27. Live with family

Level: Hard

Why: Love my independence too much. But if push comes to shove, I will. For you guys out there who always dream of moving out, I will be blunt here. Living by yourself is significantly more expensive.

 

28. Use free methods of communication whenever possible

Level: Easy

Why: Thank you, Whatsapp and Skype.

 

29. Eat out pantry

Level: Easy

Why: This is a great tip I hope you’ll find useful. More often than not, ‘there’s no food in the house’ is a myth. If you’re open to experimenting, you can be creative with odds and ends and try new combinations of flavours.  

I am a big fan of SuperCook – enter your ingredients, and it’ll churn out recipes that you can make with those leftover ingredients. I wrote about how I use this tip to keep my healthy-ish meals costing RM2.86 per person. Much less kitchen waste this way.

 

30. Choose low-cost investments

Level: Easy

Why: Investments with high fees, in my opinion, are an unnecessary waste of money. Feel free to provide data to disprove this if you don’t agree. Check your investments – how much do they take out for fund manager fees, maintenance fees and admin fees? Aim for 1% fee. Personally I use Fundsupermart.

 

31. Buy from bargain bins

Level: Easy

Why: My favourite bargain bins are from Ben’s Grocers, Cold Storage and Tesco 😀

 

32. Exercise on the cheap

Level: Hard

Why: Can’t lie – I want to be the kind of girl who has gym memberships and personal trainers. I think their guidance can be worth the money, but it’s hard for me to shell out more than RM100/month for them :/ My Crossfit classes were RM120 per month, but I quit because I’m a cheapo.

Now I go to the RM5/entry gym instead. On average, I visit them 5 times a month, so that’s like RM25 per month. I have good workouts there… but I still dream about those Crossfit classes.

How much do you spend on fitness per month? I wonder if I’m the only one who picked fitness activities based on how cheap they are.

 

33. Use cash

Level: Medium

Why: If you have problem with controlling your spending, then using cash is recommended. A crisp RM50 is more painful to hand over than a credit card. When money is abstract and you can’t see it, you will spend more… 56% more. It’s psychology.

I use cash when I can, unless there are obvious financial benefits in using digital payments.

 

34. Use generic medicines where possible

Level: Easy

Why: I am lucky enough to be healthy, but when I need the odd paracetamol, I take the no-brand ones instead of overpriced Panadol. Find it in Giant or Watson. Big price difference.

 

35. ‘Shop the perimeters’

Level: Medium

Why: In grocery stores, I try to shop around the edges and not in the middle. The middle is where they put most of the processed foods. Delicious, expensive marked-up processed food.

I’m not a saint. I like bad-food-for-me too. Thankfully bargain bins (Tip 31) has helped me to eat some of the weirdest shit.

 

36. Don’t shop when hungry

Level: Used to be impossible, now it’s easy

Why: To be fair, I could be super full but still want to eat some more. This was how bad it used to be:

  • A visit to AEON grocers – 2 currypuffs, they make nice shells
  • A visit to Mid Valley – Those damn nice Beard Papa cream puffs
  • Any mall, really – Stupid delicious Chatime 

Thankfully keto helped me curb my cravings for carbs. I hate to sound like a broken record, but I’m so in love with this diet.

 

37. Don’t be brand loyal

Level: Impossible

Why: I say impossible because I do prefer some brands over the other. Kicap Kipas Udang > other kicap. Ayam brand sardines > other canned sardines. Kewpie mayonnaise > every other mayo. Do not argue with me on this. My mind is set.

Thankfully the majority of items in the produce section – where I spend most of my time – is not branded haha. Aside from a select few, the rest I just pick whatever’s cheaper and on sale. I like to think it balances out.

 

38. Periodically make prepaid plan comparisons

Level: Medium

Why: A couple hours’ worth of research helps me pick which prepaid phone plan to use. I mostly use data, so I go with whichever that offers the lowest price per GB. Over the years, I’ve switched twice.

Here’s how to make your prepaid phone plan even cheaper with cashback strategies.

This also applies to whatever service provider you choose. Pick Iflix instead of Astro. Pick Gym X instead of Gym Y. “But I’m used to it” is a deterrent to saving money effectively.

 

39. Calculate prices at the store

Level: Medium

Why: Ok, this is slightly embarrassing. I like to make mental calculations at the store. Sometimes I even take out my phone calculator and go, ‘Hmm, Item A is RMx.xx per 300grams, but Item B is RMx.xx per kilo. Which is more worth it?’ *calculates*

 

40. Know how much common staples cost

Level: Hard

Why: I won’t buy broccoli if it’s more than RM2.50 per piece. Or cauliflower if it’s more than RM6 per kilo.

Having a rough idea of how much things cost takes a lot of mental space. You must also go grocery shopping often enough to know more or less how much things usually cost.

Some people have notebooks and jot down prices there. I think that’s an excellent idea. Must get to that.

 

41. Bring notebook everywhere

Level: Easy

Why: I’m forgetful. For my similarly-forgetful friends, keep a notebook in your bag. It’s a pretty big difference. ‘Shit I forgot to get X’ happens so much less nowadays.

I also write down reminders to:

  • Pay off credit cards
  • Check if I’m paid by clients or not
  • Reply back to potential buyers when I sell stuff online
  • Reply back clients
  • Update budget
  • Stop spending on some categories, if I go overboard that month
  • Transfer money to investment accounts

 

42. Unsubscribe/Uninstall shopping platforms

Level: Medium

Why: I have a junk email address so all the Lazada and Zalora promos go there. Barely open those emails.

Uninstalled Shopee for the annoying ‘reminders’.

If you tend to make purchases after these ‘reminders’, unsubscribe and uninstall them today.

 

43. Use Groupon

Level: Medium

Why: Better yet – don’t use Groupon. I believe you should only buy stuff that you need, and many stuff on there are not needed. I unsubscribed/uninstalled a long time ago. Nowadays I only get the odd facial packages.

 

44. Use Freecycle

Level: Hard

Why: We don’t have a Freecycle culture yet. Freecyling is all about donating unused items that are still in good condition to someone else.

To promote this, I have a Freecycling board in Ringgit Oh Ringgit. Check out 18 things you can get on Freecycle Malaysia here.

 

45. Cycle

Level: Hard

Why: Look, I like cycling and everything, but it’s not realistic to depend on them. I have a bicycle here in Ipoh and I use it to go to the gym, but stray dogs and road bullies scare the crap out of me.

Please, if you see cyclists on the road, can you be extra nice to them? Don’t drive too near to them, and let them go first.

 

46. Don’t order drinks/ Order cheap drinks

Level: Medium

Why: Water bottle (Tip 10) saved me hundreds of ringgit when dining out. If you must, get Ais Kosong, Teh O, Teh Cina, and similar. Well whatever’s under RM2.

Not immune to peer-pressure, though. I relax this rule when going out with friends.

Some people order multiple drinks. I don’t get it. Can you like, sip slower? So it lasts the whole meal?

 

47. Have a manual water filter at home

Level: Medium

Why: I love the idea of hot/cold dispensers, but why do they cost hundreds of ringgit every month? 0_0

My drinking water system for 4 years and counting, ladies and gentlemen.

Image credit: aliexpress
Image credit: aliexpress

They need  replacing and occasional maintenance, but at least I don’t have to get water delivered or buy water filters every month.

 

48. Quit using shampoo

Level: Impossible

Why: A couple of years back I read about the no-poo movement. People were swearing by it – healthier hair and scalp, they say. Just wash your hair with water, and use baking soda as ‘shampoo’ and apple cider vinegar as ‘conditioner’. I tried it and didn’t even last a week. It was so greasy and smells like vinegar (not nice, FYI). My hair even fell out wtf.

No, I’m happy with my current shampoo. It makes me check out myself in the mirror, instead of recoiling in horror.

 

49. Cut own hair

Level: Impossible

Why: After 5 or so tries, I have to finally admit that I am not talented in this.

I found a cheap+good hairdresser in Ipoh though, so I cope OK. It’s been awhile since I had short hair. Too much maintenance.

 

50. Use company benefits

Level: Medium

Why: Check your company manual for hidden goodies. For my previous employments, I got reimbursed for dental work, transportation and internet subsidies, and more.

Conclusion

There you go! 50 ways to save money in Malaysia. Again, not comprehensive, so I invite you to list your own ways to save money in the comments section below.

If you tried any of the above, I want to hear from you – do you agree with my ranking? Do you find them easier or more difficult?

As you can see, you don’t have to be good at all of them. But you can at some of them, for sure 🙂

Author

12 comments

  1. Found your website while browsing thru jobless.my(?) website (I’m trying to make extra money to clear off my study loan asap!). Love your posts on personal finance. Keep it up!

        1. I got used to it within days? Can’t remember…

          May I suggest a smaller size? It might be more comfortable for you. A suggestion anyway, everyone’s anatomy is a bit different

  2. Hi there

    I found about you in an article at BI M’sia..and undoubtedly your blog is amazing… informative and hilarious too =).

    All the best and keep writing interesting stuff!

  3. Hello there!! Stumbled upon your blog (or is it a website?) while googling for stuffs. I gotta admit that what you said is true “The problem is that the Malaysian personal finance blog scene is pretty much nonexistent oklah got lah but very sikit and not appealing to me”. But I believe you have filled that gap to reach out to millennial like me by sharing information and your opinion on how we can better manage our finance. Millennial have been plague with many financial problems and some of them doesn’t have the chance to start on their live yet! Needless to say you are doing a great job and I hope that you can continue this far into the future!

    P/s: I’m relived that I’m not the only one doing this LOL
    “Hmm, Item A is RMx.xx per 300grams, but Item B is RMx.xx per kilo. Which is more worth it?’ *calculates*”

    1. Hello Hafiz Amzar,

      Thanks for the kind words 🙂 Glad to hear you liked what you read, and even related to some of them!

      You’d be surprised, there are more people like us, people who look for the best value for our money. I always smile when I see other people calculating in between the aisles 🙂

  4. #17
    Aeon memberships are worth it if you often park in the mall for the parking discount (and sometimes free!) The accumulative parking charges far exceed the membership fees. 🙂

    Good guide. I think the most impossible one is #48 haha

    1. My AEON card paid for itself hurray! Coincidentally received voucher upon a purchase sometime back. You just reminded me to check my points, hmm.

Leave a Reply

Your email address will not be published. Required fields are marked *

Close