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My Simple Ways to Save Money

These are my personal tips on how to save money for your own future. Most of the time I will try to make use of my negotiation skills, finding some discount voucher and coupon, be sensitive with what people said where and which is cheaper. These are the common thing that I am doing frequently in order to make sure that I can have financial freedom in future.

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How Can I Save Money In My Real Life?

Almost every month before I receive my paycheck, i will try to save a portion of it — almost 50% of my income will go to saving. You can try to save your extra funds into different types of saving account, which may earn you some interest.

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Try to play smart often and know more about banking fees! Most of the time, I will try to make free bill pay, or as minimum transaction charges as possible. If can, try to make use of online banking which may save your time and travel from one location to another location.

I always find some new way to make use of credit cards rewards. Some of the people may know how to get the cash back on every purchase that they’ve made but if you are not the heavy spender type then be sure that you pay the credit card outstanding balance off every month. This is to ensure that you don’t pay any interest fees.

No matter what types of product or service you wish to purchase, it’s good to practice yourself to actively search out the deals. You can save a lot of money if you can find a better deal, or request a better deal from your service providers. Recently, I just saved about RM1,200 by purchasing a new car.

If your are planning to buy new clothes this coming Chinese New Year, it’s recommended to buy quality items. Quality items may cost you more up front fees, but they will last longer and generally provide more better results than cheaper items.

If possible, try to find as many coupons and rebates as you can. Sometimes, you can make use of your coupons instead of using own money to buy something.

Use parks rather than joining as club member. I love to go hiking and jogging at parks. The only cost to me is the fuel to drive there.

Take care of things. I treat my personal things very well as this may save me some bucks on changing equipment/product. This includes my mobile phone which I used it for almost 4 years, own notebook for almost 5 years and so on. Things will last much longer when you take good care of them.

Buy insurance such as personal insurance, home insurance, car insurance, and other types of insurance that are designed to save your money. This is to buy your own a protection and don’t need to pay using own money when any bad incident happens on you.

I’m sure there are many more things we can do to save money. If you can do that then you will having financial freedom just like me.

Tags: , , , , January 20th, 2010 Posted in My Saving Plan | 15,452 views

7 Responses to “My Simple Ways to Save Money”

  1. foongpc Says:

    Good tips! I don’t think I save as much as you do, but I will aim to save much higher this year! : )



  2. Jayce Says:


  3. Kris Says:

    Don’t marry or have any kids?? LOL..that is a good tips to save up money :P Kidding..

    Investing (with knowledge of course) and being frugal with spending is the surest way to financial freedom.

    Btw, i am just curious..what new car you bought that allows you to save RM1.2K..mind to share?



  4. Jason Ng Says:

    Hi David,
    Looks like you are saving alot. From your monthly expenses, it seems that you have not invested into any asset class?
    What about your insurance?
    Any mortgage?
    Mind sharing your networth?

    Jason



  5. Lai Seng Choy Says:

    Good job. David.

    You are right. We should pay ourself first before spending. It is a kind of force savings. As for the expenses protion, we should be frugal but not stingy. We pay what it is worth for less, if possible. That is why seeking for good deals become an important exercise in our daily life nowsaday.



  6. Jys Says:

    wow, u save 50% of your salary every month? I salute you man!! hehehe….



  7. Personal Finance Tips Says:

    hi David,thank you for sharing good tips.
    I also have some simple strategies to save money, you can find it here:
    http://financeaz.com/seven-simple-strategies-to-save-money/



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