Post-moratorium Common Cents

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Post-moratorium Common Cents

As Malaysia enters our 9th month of the pandemic, the economy remains in murky waters with the number of cases hovering at alarming levels. While many have adapted to the ‘new normal’, some might be starting to feel the pinch with the 6-months (or the honeymoon period as some put it) moratorium coming to an end.

Indeed, times are tougher than ever now. So here are 4 tips that might help you be a little more frugal during these difficult times.

1. Spend on needs, not wants. Do you really need to get that new car, bicycle, handbag, or pair of kicks? Unless it’s an absolute necessity, be honest and ask yourself if you can survive without it. The money you save by spending only on what you need will go a long way over time.

2. Get rajin with coupons/discount codes. 11.11 is coming up! Similarly, your favourite food delivery or ride sharing platforms are always offering great discounts provided you do your homework and are diligent enough to redeem them.

3. Instead of trying impress others, invest in yourself. Many people constantly spend money to keep up with the Joneses. Invest in an online course instead of that expensive car. The returns you get from upskilling will take you places.

4. Be happy with what you have. Money shouldn’t dictate how much you enjoy life. Making a weekly list of things you’re grateful for can give you much needed perspective in uncertain times.