Saving money can be difficult sometimes but there are ways you can save with minimal or no effort at all. In our daily lives, we should look for ways to capitalise & save even a small amount of money. It is just like our parents or grandparents walking into the morning market to ask for a discount from the vegetable sellers. It is the same concept.
What Are The 10 Ways You Can Save Money With Almost No Effort?
1. E-wallet
GrabPay offers Grab Points where you can use to redeem a gift card or discount. Usually, I will be using the points for a discount on my next purchase. The more points you have, the more discount you can get. GrabPay does offer cashback randomly during certain campaigns. E-wallet such as Touch’nGo GO+ offers daily interest between 1.39%-1.47% per annum. Since I made my deposit with them on 1st April, my total earning is RM0.12 with an average balance of RM100. It is honestly better than nothing & it requires no effort.
2. Cashback & Reward Points Card
There are often many cashback & reward points cards in the market. It is commonly used by some individuals where they use to pump petrol on the weekend for higher cashback. Of course, they have certain limitations for the cashback. Personally, I am using Hong Leong AirAsia card where I am able to earn Big Points. Too bad we are currently in a pandemic & it is not fully utilised. Prior to the pandemic, I have redeemed a flight to Vietnam for free & for now, I have accumulated over 70,000 Big Points.
3. Gift Cards & Vouchers
There are many online stores that offer gift cards that you purchase below the actual value. You can use your Grab Points to redeem as well. For example, with the purchase of RM80, you are getting RM100 worth of voucher. There is plenty of websites and platforms that are offering such deals that you can check out.
4. Negotiate
Some people label this as being cheap but who are they to judge? Negotiation is part of our daily lives & it is a fair trade between a buyer & a seller. Whenever I make any purchases especially on electrical items, I will be asking for a discount. Recently I have sold my iPhone 8 Plus where I advertised at Facebook Marketplace for RM1200. I scheduled a meet up with a prospective buyer and after checking on the condition, he asked if I can sell it at RM1050, we ended up settling at RM1100. That’s RM100 savings for him.
5. Raiz
It is an investment platform that will turn your spare change into an investment. You can read more details on Raiz at this link. It is an investment platform that I highly recommend to help you invest your spare change.
6. Cut Down Certain Expenses
There are many ways to cut down on those expenses. Since we are looking at saving with minimal effort, let’s explore the easy ways. Now look into one of your eating out expenses, try to either convert it into a more economical meal or cook your own once in a while.
7. Saving Account With Interest
I used to think that all banks will offer interest for your savings account but I was wrong. My CIMB Saving account offers low interest where I will get between RM0.03-RM0.20 a month. Both my Maybank & Hong Leong saving accounts do not have any interest in their savings account.
8. Keep Spare Change
You can try by keeping those spare notes such as RM1 or even coins. Over the years, you will be surprised by the amount you are able to save. My brother used to save his coins in his protein tub & he saved almost RM600 from all his coins saving.
9. Survey
This is something that is often done by many of us. Surveying for the best deals or offers will also allow you to save some money.
10. Buy During Sales Period
Some items will be discounted during the sales season. During Shopee month-end sales, I am able to buy 2 electric toothbrushes for RM160 instead of the original price of RM250 for 2. I remembered having to wait until 12 am to purchase it as the offer was only between 12 am-2 am.
Conclusion:
These saving methods are something that we do in our daily lives whether we realise it or not. Some of us may do it in more extreme ways & some may not even realise we are doing it. Guess it is part of human nature and something we may have learned from our elderly. No matter how much we save, it is important to know the right way to manage it. You can find a suitable platform to invest & diversify your money based on your risk appetite.
OSS!
You can also check out my latest YouTube video on What Can You Invest With RM1000:
