We are approaching the second half of the year & I am sure everyone is still as motivated to stay on course in your financial journey. Sometime last year, this was the time where things started to loosen after 3 months of tough MCO. The good news is, most of us are getting vaccinated or already have been vaccinated & I am confident that in 1-2 years to come, we get to travel around again.

Previously, I have written on 4 Ways You Can Save Money From Your Daily or Monthly Spending but with the MCO situation, there are even days that I didn’t even spend a single cent. Currently, I am thinking of ways that I can tweak this concept to make it more applicable during this pandemic, and then it hit me, why don’t I make it into a challenge to see how much can I actually save & use it to invest?

I call this challenge BBM Jar Investment Challenge. What is this challenge about & how can it help you & me?

To start this challenge, first I will find a bottle or a jar where I can keep my money and add a label on it so that I can be reminded of the challenge. Next, I will be setting aside my money in terms of cash daily into this jar. I plan to set aside RM1-RM50 each day & I will determine my daily amount by using “Spin The Wheels App”. You can find it on your phone app & you can set each probability too. I set RM1 as the highest probability & RM50 as the lowest probability. At the end of each month, I will be calculating how much money I have in the jar & this amount of money will be allocated towards my investment.

Based on my current investment, I have a choice between StashAway, Raiz & HelloGold since these investment platforms are the ones where I can have minimum investment. If you are having other investment options, you can also opt to invest in them. I plan to try this challenge for 12 months to see how effective it is & I will be reviewing this again after a year.

Since it is a simple concept of saving money, I hope some of you guys can try it along with me to see how much can you actually save just from this challenge. This challenge not only helps to create a good habit in saving & investing but also helps create awareness to see how much we can save & invest after 12 months. If you are in it, do use the hashtag #BBMJarChallenge so we can be updated on each other’s progress.

Below is an easy step to start #BBMJarChallenge:
Step 1: Prepare a jar & label it accordingly
Step 2: Select your investment platform (Preferably with a minimum investment amount of RM10)
Step 3: Spin the wheels & save your money daily (As low as RM0.10 to as high as you like)
Step 4: Calculate the amount at the end of the month
Step 5: Invest in your preferred investment platform
Step 6: Repeat the current process for 12 months
Step 7: Review your investment amount & return after 12 months

OSS!