Journey of a Kampung Investor in search of financial freedom
Inflation increasing daily but salary never increase in proportionate with inflation. It’s time to take some major steps on how you going to save RM700 a month directly or indirectly.
Handphone bill
Do not use prepaid. It’s more expensive usibg prepaid unless you only spend RM30 and below a month on phone calls.
Subscribe to postpaid plans which can cater to your needs.
Amount Save: RM50
Not all secondhand items are not good. Some items, it is better buying it secondhand rather then new as you will get the most value for your money. Below i have listed 6 things that will make you save money buying it secondhand rather then new.
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As you can see i spend roughly RM 400 a month on eating while my fellow friend Seng Choy from Financial Planning DIY spends roughly around RM 700 just on eating. We can clearly see that eating takes a big chunk out from out income.
Let me share a few basic saving tips where you can try and use to save some money on eating :-
I am pretty sure most of us spend a big chunk of money monthly just for eating. Some of us eat to live while others live to eat. For me, i eat to live.
Below is how much i spend on eating every month :-
I have been doing online banking roughly around 5 to 6 years ago. At that point of time, i recommended my aunties and uncles to use online banking as it’s easier and faster way to handle some simple banking issues but they didn’t seem to take it seriously.
Bringing your date out on a lavish dinner or buying expensive gifts is always easier said then done. Of course if your parents are multi millionaire, then i have nothing more to say. It does not mean you can’t go out on a date and being happy if you can’t spend lavishly right?
Saving money that you have earned is always in a person mind. There is no right or wrong on how much one must save. It’s adviceable to allocate 30% to 35% of your hard earned money to your savings for rainy days.
Let me share the basic tips on where you should allocate your savings to.
Have an emergency fund
This fund is used when the economy takes a dives and you loose your job unexpectedly. This fund size should at least equal six months of your current income. This will enable a person to find a job within that period of time.
Personally : My emergency fund size is roughly 8 months of my current income. Anyway, as a free lance blogger i don’t need much of an emergency fund for loosing a job but might need the emergency funds for other purposes.
Standard Chartered introduced their latest Islamic All in one account called Saadiq Saver. Initially i had Standard Chartered eSaver savings account. I closed that account to open Saadiq Saver.
The Saadiq Saver is an All in one account because it provides :-
Seems like i am beginning to love oversea bank more this days! Although the title of my post says differently but that’s only the title!
Good news for those of you looking for a trading account where you can trade equities in Malaysia. RHB Invest is not currently forfeiting the RM 10 registration fee for new account holders till the end of 2008.
I guess the main reason for this is because the remisiers are finding hard to cari makan. Hope with the RM 10 discount this will encourage more people to invest in our already stale KLSE.
Save RM 10 better then nothing right? ^^
Anyway there are basically 3 elements i really like about RHBInvest :-
Let me share a product which i personally subscribed where we can save another 7% on our petrol in Malaysia.
As we know, the government had dropped the petrol price till RM 2.55 from a super hike of RM 2.70 per liter.
My friend came across a product by Standard Chartered and he shared with me and i think it’s best for me to share with all off you out there as we can save an extra 7% on petrol.
Yeah, i mean it! Another 7% discount with acceptable terms and conditions. This product is by Standard Chartered and it’s called the e$aver Account.
As we know, the recent petrol hike is really killing the moderate income citizens in Malaysia. I am in that bracket. A 41% increase on petrol isn’t really helping. I am sure more Barang Naik will come after this petrol hike.
So i would love to share 5 savvy ways to combat petrol hike.
