10 Ways to Save More Money

Do not save what is left after spending, but spend what is left after saving. – Warren Buffett

I recently bumped into my high school friend. He is currently a very successful property developer in Malaysia and Singapore.

He told me that how much you get at the end of the day does not depend on how much you earn but rather than how much you save!

Save Money and Invest More!

There are 10 quick ways for you to save more money!

1) Don’t spend on your ‘expensive’ Coffee/Tea

No brand name is needed. I am so amazed that people nowadays can spend 10 or even 20 dollars just to drink a cup of coffee. Can you imagine how much you can save a month if you just live without all these expensive coffee and tea! Just think of how much you can make after 10-15 years later if you were to save this extra money.

2) Avoid using your credit card

If you do not have so much money to spend, keep your credit card! Don’t spend your future money by swapping your credit card. Never have the idea that you will get away with ‘spend-and-pay’ later! A lot of people manage to accumulate credit card points for air travel. If you are not disciplined enough to settle your credit card bill every month, DON’T swap your card!

3) Pay your debt and save interest

Pay your debt with the highest interest rate first and save your interest. The credit card has the highest interest in the World after loan shark!

4) Buy second-hand thing

Don’t you think it is a good idea to buy a second-hand car? Let the first owner pays all the taxes and you get the benefit to drive the car with only 2/3 or 1/2 of the usual price!

A small amount makes a huge difference!

Even a small amount of money makes a huge difference thanks to compounding interest. 1-5 dollars a day can change your life after 10-15 years!

5) Stop smoking

If you can quit smoking, you gain health and save more money. Kill two birds with one stone!

6) Cook your own meals rather than eating out

Try to cook your own meals or pack your food to the workplace. You will be spending 50-80% less if you prepare your own food. And I love cooking!

7) Plan before you buy

Plan before your buy. Never go to a shopping mall without a list. You will end up buying unnecessary items! Shopping malls got ways to make you spend more.

8) Use fuel-saving vehicles

No point driving a 3L or 4.5L car on city road when it is illegal for you to speed more than 100 km/h. If you want to drive BIG car with HUGE horse power, join Formula 1, you will get money more than 100 times or even 1000 times your vehicle value if you win a race!

9) Stop buying lottery

Save that 1 or 2 dollars every month and give up your hope of becoming an instant millionaire. You have a better chance to become a millionaire if you start saving money today rather than betting your money in a casino or buying lottery

10) Stop your regular subcription

Stop paying your expensive phone subscription and switch to a prepaid phone. Use skype, whatapps call, or even Zoom if you are going to engage a long conversation with your friends. If you don’t read the magazine you subscribe, STOP IT NOW!!