Here's a list of some of the things that I do to save money:
CREDIT CARDS
1. Kiss Annual Credit Card Fees Goodbye
I was paying RM180 per year for my annual credit card fee. I have recently migrated to another credit card and saved RM180 a year in credit card fees! The banks are already making so much money from charging you interest, why pay them more in the form of annual fees?
2. Pay It in Full
If you can, pay your credit card bills in full each month. You wouldn't give the guy on the street RM20, would you? So why are you willingly giving it to the bank???
3. Transfer It!
I have used zero transfer programs in the past and it has saved me quite a bit of money in interest. The trick is to pay off in full at the end of each month and I know this is hard, to not use the now free on your credit card to buy more useless stuff that got you into the credit hole in the very first place!
4. Check It!
I check my credit card statements for the following:
a. to make sure that there isn't any mistakes made on them. I normally keep all my credit card receipts and check them against the bill when it arrives.
b. to make sure that all the rewards points have been credited into my account (they add up substantially)
c. to ensure that any cash back rewards have been credited into my account
BANKING
5. Save with an Online Bank
When I say "online bank", I don't mean online banking. I mean "online bank" as in there is no brick and mortar bank for you to go to. The only Online Bank that I know of at the moment is Maybank's m2u Savers account. Online Banks have less overheads and can therefore pay you more in interest. You can read more about the Maybank's m2u Savers and how to go about opening an m2u Savers account
here.
Do you know how much you are making in your savings account? I did --- apparently not much, in fact the way it was going, I was doing the bank a favour by putting my money in the bank and not getting much back for the service that I provide them. I just recently opened a Maybank m2uSavers account. It gives me more interest per annum compared to other savings accounts.
ELECTRICALS
6. Cable TV? Who needs it anyway???
With Astro planning to increase their charges, who needs it anyway??? I disconnected my cable tv service a few months ago before the price increase charges talk began and saved RM 49 per month, RM588 per year. Besides, Astro is going to increase their charges soon and while many people are complaining, I have no worries as I disconnected my Astro service a long time ago.
7. Switch It Off!
This is something I learned from home: Switch off all lights and electrical appliances that you're not using.
8. It's Cool to Use the Fan
Honestly, I don't know about some other people but for me, the fan is just fine. If it gets too hot, take a cold shower!
9. Let There Be Light!
I use compact fluorescent light bulbs. They are brighter and energy efficient.
10. Hot Water Heater --- Really???
The hot water heater is really not necessary when living in a hot country like Malaysia. Okay, there are a few cold days when it rains non-stop but for most days, it's pretty hot and you don't need to use the hot water heater. You'll find, as I did, that if you stop using the hot water heater, your electricity bill is reduced quite drastically --- a plus for your wallet.
READING
11. Read More
Reading takes up more time and is much cheaper than watching a movie. Besides, reading is more fun as it allows you to "see" the story as it unfolds for yourself instead of seeing it through the eyes of some movie producer/ director.
12. Shop at Discount Book Stores
Why shop at full price when you can get them at discounted prices? Book Xcess... need I say more?
13. Don't pay full prices for books
If you're like me and you just love reading, you might want to be a member of Popular. For a small upfront fee, you are entitled to 10% off all of your book purchases on normal non-sale days and 20% off all of your book purchases during sales period. In addition, they often have member's discounts each month which you can purchase at 20% off the normal price.
14. Shop at Warehouse Sales
I normally wait for the Big Bad Wold Warehouse Sale organized by the same people at Book Xcess to load up on novels. At RM8 to RM10 a book, you get the books at a fraction (approx 25%) of the normal prices.
15. Bookcrossing
I'm a bookcrosser. Free books are my favorite. Bookcrossing is a community of people who believe in making the world one big library. It's about educating the world and keeping the world literate. It's like a treat every time I find a book on my wish list at the Bookcross Zone in 1-Utama. MPH is one of the prominent bookcrossers and I have been lucky to have been able to stumble upon quite a number of spanking new books put up by MPH in the bookcrossing zone. Bookcrossing lets me explore reading books by authors that I wouldn't normally read and many times, I have been pleasantly surprised to find authors whose writing I enjoy. Remember though, bookcrossing books are for reading only and have to be released to the wild once you've done reading them.
MOVIES
16. Pick Your Movie Days
At GSC cinemas, the lowest priced tickets are on Wednesdays and before 12 Noon on weekdays excluding public holidays.
ICE CREAM
17. Pink Wednesday
Whenever I feel like having an ice cream fix, I go to Baskin Robbins on Wednesday. All you have to do is show them something pink and they'll give you two scopes of ice cream for the price of one.
18. Baskin Robbins 31% Off
A not to be missed event if you're a Baskin Robbins Ice Cream fan. They offer 31% discount on all of their ice cream on the months that have the 31st. I'm lucky that there's a Baskin Robbins just a stone's throw away from where I live. I normally go there early in the day to avoid the crowds.
SHOPPING
19. Group Shopping Sites
This seems to be pretty hot now. The number of group shopping sites seem to have sprung up out of nowhere. Some to mention are
Groupon,
We Buy,
Milk a Deal,
Everyday,
My Deal,
Deal Mates and the latest kid on the block,
Jigo City. They offer daily deals from restaurants, spas, holidays, hotels, fun experiences, name cards, photo books, photography sessions, etc. at substantial discounts.
I personally like the restaurant deals as it lets me sample restaurants that I wouldn't normally go to for a fraction of the normal price for a meal. One word of caution though, purchase only what you need. I read somewhere recently that statistics show that 20% of all coupons purchases online go to waste. Don't let yours go to waste. Buy the coupons only if it's around the area that you normally go to (ie on your way to work or to somewhere that you normally go to, you get the idea).
20. Say NO to Clothes/ Shoes/ Bags Shopping
Okay, this one wasn't so easy for me as I have this tendency to pick up something every time I go out to the stores. I recently had a look at what I've purchased and realized that I have loads of stuff which I just recently purchase and have not yet worn (some even still had the price tags on!). So every time I feel like buying something, I think about all the stuff that I already have at home. I find that if I spend time to visit what I have and style them, it's as good as going shopping for new stuff.
21. Cooling It Off!
See something you like in the store? Don't purchase it yet. You may find that you would have forgotten all about it by the time you get home.
22. Don't Pay Full Price
I used to work with a retailer. I know what their markups are on the merchandise which are mostly fabricated in China and there is no way that I'd want to pay for those markups. See something you like in the store? Wait for the sale, hey, there seems to be a never ending stream of sales in Malaysia. Missed the last one? No worries, the next one is just round the corner!
FOOD
23. Put on the Apron!
You know what, if I can do this one, so can you. Yes, I don't like to cook but since trying to cut back on my spending, I've been cooking. If you're like me, you'll probably be pleasantly surprised how cooking your own food might not only taste better (as I was!), it's also probably healthier as you have control over what goes into your food. There are lots of recipes online that you can google up. I recently found this fantastically yummy burger recipe online (click here to get it).
24. Leftovers
If you have any leftovers, transfer them into food savers and put them in the fridge. Hey, that's at least one less meal that you have to prepare later! Some food actually taste much better the day after too.
25. Pack lunch for work
Preparing lunch for work saves a tonne of $$$. It doesn't take a lot of time to prepare, just some planning. I normally make sandwiches for work.
CAR
26. Car Wash
Okay, this one, I have to admit, I have yet to do but I'm happy to announce that I have just bought a pack of car wash and wax last Monday. I normally pay RM10 per car wash and instead, picked up the car wash and wax liquid for RM15 and it's going to last me a very looonngggg time!
27. Fuel Up Over the Weekend
I fuel up my wheels over the weekend and make sure that I pay with my Maybankard 2 Amex card since I get 5% cash back subjected to a maximum cap of RM50 per month.
28. Hold Back on Buying New Wheels
I've been holding back from purchasing new wheels for a number of years now. The thought of having to pay for something that I know will depreciate in value while I'm still paying the bank back is difficult for me to accept. I'd rather put the money away into a retirement fund.
29. Drive Less, Walk More
I'm lucky that I'm living in an area where the supermarket and banks are within walking distance to me. I save on fuel and parking fees, contribute less to global warming and get more exercise. Win, win, win.
GROCERY SHOPPING
30. Check Your Pantry/ Fridge First
Before you go shopping, make sure to check your pantry and fridge first to see what you're running out of to ensure that you only buy things that you've run out of/ are running low on.
31. Grocery Shop with a List
Going to the supermarket with a shopping list ensures that I stay with the plan (and not picking up just about anything and everything along the way) and don't forget what I went there to buy in the very first place.
32. Time Your Shopping
I shop during the weekends because my Maybank2 Amex card gives me 5% cash back on all of my weekend purchases (it's capped at RM50 per month though).
33. Avoid Buying Bulk
Yup, I know, I know, I can hear you say, "but buying bulk saves me money!". Yes, that's true BUT only if you use every last bit of it. No point buying in bulk if you only need a bit and then let the rest go to waste. I personally just buy on a need basis.
34. Load Up on stuff you know you will use
Check the flyers and load up on dry goods that have a long shelf life that you know you'll definitely use.
35. Buy Supermarket Brand Names
I don't know about you, but some of the supermarket brand name products are pretty good. I personally like the First Choice Multigrain Bread sold only in Giant and Cold Storage (they both belong to the same mother company --- Dairy Farm) I've also bought Giant's brand name spices. Some of the Tesco stuff are pretty good too (I've tried some of their cookies, olive oil, jam, cereal, chocolate, sardines, chicken curry, wet wipes, aluminium foil and cling wrap in the past).
36. Check Your Receipts
You might find that the cashier made a mistake when ringing in your purchases or maybe the scanned price doesn't match the shelf price or the price on the flier.
37. Don't Shop on an Empty Stomach
This is sooo true. I recently went shopping on an empty stomach and found myself buying a lot of stuff! Make sure you have food before you shop.
38. Shop at Places that have Free Parking
I normally go to Tesco because I get free parking when I shop there.
39. Avoid Trolleys
If you're shopping for one, avoid the trolley and instead reach for the basket as trolleys are a marketing ploy to get you to buy more than you intended to. When the basket gets heavy, you know it's time to head for the cash register.
BILLS
40. Pay Bills during the Weekends
I get 5% cash back by using my Maybank2 Amex card (subject to a maximum of RM50 cash back per month though).
41. Pay Bills Online
The beauty of online banking is that you can pay your do future payments for your bills. No more queuing up, paying your bills late, having to pay for checks or paying for stamps to send your payments.
42. Check Your Bills
Astro was still billing me even when I had terminated their services! Make sure you check your bills to make sure that something like this doesn't happen and if it does, get on the phone with their customer service rep to rectify the problem.
COFFEE/ DRINKS
43. Starbucks
Don't pay full price. Use your Maybank Amex to buy any Starbucks drink and you get another one of the same or lesser value for free (this promotion is good till 31st October, 2011). Click
here to see the promotion.
TOILETRIES
43. Cut the Tubes
When you get to the end of your to toothpaste tube, don't throw it out without first cutting open the tube. You'll find that you probably have another 4 to 5 uses still. The same goes for anything else that comes in a tube (ie conditioners, cleansers, body lotion, hand cream, etc).
44. Upside down Bottles
I turn the body lotion bottles upside down when they are near the end to get to most of the product in a bottle.
45. Add a Little Water
For things like shampoo and conditioner, I normally would add a little bit of water to the bottle, close it and then shake it in order to get every last bit out!
NEWSPAPERS
46. Don't buy newspapers
You can always read the news online. I only recommend buying the Saturday newspapers for the appointment pages if you're job hunting as there might be ads advertised in there which are not available online.
47. Read Free Newspapers
Free copies of The Sun are delivered to my condo every week day.
KITCHEN
48. Don't buy garbage bags
I reuse the plastic bags that I get from grocery stores instead of garbage bags.
49. Use half of what you normally use
I pour some of the dish washing liquid into an empty pump bottle and mix it with equal amount of water. Let's face it, we sometimes use way to much detergent when doing the dishes.
50. Reuse Kitchen Towels
I sometimes use kitchen towels to dry my pans when I have just washed them and want to use them to cook immediately. I don't throw the kitchen towels out. I save them to wipe the spills off the stove surface after I'm done with my cooking.
REWARD PROGRAMMES
51. Credit Card Reward Programmes
My Maybankard2 cards come with reward programmes (every RM1 spent = 1x Treat points for my Mastercard and every RM1 spent = 5x Treat points for my Amex) so I make sure that I utilise my Amex card as much as I can in order to earn more points which basically translates to more rewards.
52. Reward Yourself
Rewards programmes are great if you frequently shop at certain places. I'm a member of Bonuslink,
One Card and
Tesco Club Card. I also have a card for a juice bar that lets me collect points when I make a purchase. I have used rewards points from
Bonuslink as well as my credit card to get stuff and vouchers for the stores that I frequent. I've just traded some of my
Bonuslink points for a RM40 voucher from Nandos. Prior to that, I traded some of my credit card points for vouchears from Popular, Carrefour and Ayamas.
You've got to check if there is an expiry date on your rewards points (
Bonuslink points are good for only three years) so you've got to make sure that you reward yourself before the points expire. My
Tesco Club points as well as my
One Card points don't have expiry dates --- they're the best since you'll always have them there when you need to use them and not have to worry about them expiring.
53. Sign up for Rewards Programmes
I'm a member of Bonuslink and Tesco Club Card and I make sure that I collect points when I shop at any of their stores/ affiliates.
54. Time your shopping
Shop on days when you can earn more points on your card. For instance, Parkson, an affiliate of Bonuslink, gives 5X points on Bonuslink members pre-sale days.
WORKING OUT
55. Forget the Gym
Why pay expensive gym membership when I can use the gym in my apartment complex for free? What I normally do nowadays though is I workout at home with a gym ball, a yoga mat and an elastic band. There are loads of great workout clips on YouTube that can give you ideas on how to structure your workout.
56. Walk More
I normally listen to my phone when I go out to do errands on foot. It lets me kill two birds with one stone --- I get my errand done and I get to work out without feeling like I'm really working out!
LIFESTYLE HABITS
57. No Spend Day
Try observing a No Spend Day at least once a week. You'll be surprised how much you'll save by just not spending in one day.
58. Journal It
I journal everything that I spend on a spread sheet on Excel. It's amazing how seeing it on a spread sheet controls your urge to spend unnecessarily.
59. Give yourself a daily budget
Set a daily budget and see how much you can save at the end of the day/ month.
60. Bring your own water
I used to buy water when I got thirsty. With a little planning, I fill up my own reuseable bottle with water at home and take it with me when I go out.
RECYCLE
61. I take aluminium, tin, plastic, paper and cardboard down to the recycling center in exchange for cash.
62. Paper
I use both sides of printed paper when I'm printing.
63. Paper Again
I also use the other side of printed paper as a note pad.
REPURPOSE
64. I use what I already have around the house before I go out to buy more. I reuse takeout food containers as trays in the refrigerator to keep things like sauces from spilling.
65. Before you throw something out, take a good look at it and think about how you can repurpose it.
You know that bottle of conditioner that didn't feel so great on your hair? Well, I use mine to shave my legs instead and it's lots cheaper than having to go out and buy shaving cream. You can do the same with the expired body lotion/ cream.
Shampoo that you get from the hotels can be used as a body wash (that is if you find it too nasty to use on your hair) when you go to the swimming pool/ waterpark or when you go travelling.
The body wash that looked better while you were in the shop rather than when you were in the shower can be poured into pump dispenser bottle and diluted with some water and viola! you have hand wash!
The hand cream that you don't really like can be used as body lotion or foot cream. Slather it on before you go to bed.
The face moisturiser that you no longer fancy using on your face because you found a better moisturiser for you face can be used as a hand cream instead.
Got nail polish you no longer use? You can use them to paint your keys so that it would make finding the right keys quicker (particularly if the keys are all about the same size and you've got a bunch of them!).
BEAUTY
66. Foot Spa
I do my own foot spa treatments for a fraction of the cost. There are lots of videos on YouTube.
67. Oil Blotters
I buy my oil blotters from Daiso (yeah, the everything is RM5 shop). The last time I bought oil blotters, I got 300 pieces of oil blotters for just RM5!
68. Cleanser
I happened to try a Rice Bran cleanser which I purchased from Daiso (at only RM5) and was pleasantly surprised to find that I liked it!
HAIR
69. I no longer use hair dyes as I normally colour my hair dark brown or black anyway. Instead, I have swapped my hair dye for henna which is not only ammonia peroxide free, but also costs only a fraction of the hair dye color!
CLOTHES
70. I mend my clothes to get more miles out of them.
GEEK
71. Save the Trees
I try as much as possible not to print on paper if I can. Instead, I try to save as much info as I can in soft copy on my external hard drive.
72. Learning
Is there anything that you wish you knew how to do? Before you pull out your wallet, consider learning it off the web first. I learned to use Adobe Ilustrator, Photoshop and refreshed my 10 years of unused AutoCad knowledge from YouTube. You can find some pretty amazing instructional videos there.
73. Free Software
There are many free softwares available on the web for FREE. So before you go out and purchase any programme, make sure to search online to see if you can get the software or compatible programme for free.
74. Share
I download free chic litt books (in PDF) online and that saves me a tonne of $$$.
PHONE CALLS
75. International Calls
I use Skype for international phone calls. Why pay telco prices when I can do it over the net for nothing more than the price of the broadband service which I'm already paying for anyway.
76. Mobile Phone
I subscribe to a prepaid plan that allows me to purchase air time as I need.
77. Mobile Phone Reward Points
Don't forget to take advantage of your mobile phone service provider's reward points. I use the reward points that I have accumulated to trade for free air time or sms.
78. Time Your Top Ups
Top Up when there is a promotion. A few days ago, I got a message from my telco saying that they would give me RM10 free if I topped up RM60. One word of caution though: only act on this deal if you need the credit. Otherwise, give it a miss. I have taken up on this deal in the past when I needed the credit but I'm giving it a pass this time around as I still have quite a bit of credit left on my account.
