Practical Money Tips by MR.DOLLAR

There are many ways that you can take control of your money such as by lowering your budget, paying off debt, and increasing your savings. If you want to take control of your financial life, here are some practical money tips by MR.DOLLAR:

Take your financial situation in your own hands

Believe that you can improve your own financial situation. The first thing that you can start with is by setting up an Emergency Fund. Set your goals small at RM300 and when you’ve hit the goal, you can increase it as you go. But remember that you are in control and don’t place it on external factors. You cannot avoid unexpected events, but you can plan and save for it.

Have No Spend days

What are No Spend Days? It simply means days where no money is spent outside essential bills and grocery budget. Money is only spent only on needs and not wants. So cut down on your expenses, try to give up some of your wants and you’ll be surprised by how much you can save by giving up that daily Teh Tarik or Starbucks Coffee! One of the best ways to track No Spend Days is by using a calendar.

Focus on Savings

Save even if it’s only a little bit every month. Depending on your income, there is usually some expenditure that can be done away with. Here are two examples: The first example is if you save RM20 each week, that amount accumulates to be more than RM1000 in a year’s worth of time. The second example is if you save RM1 each day, that amount accumulates to be RM1000 in less than 3 year’s worth of time. The amount of time might take longer but this example just shows how it is possible if you keep focused and commit to it.

Budget and Shop Smart

Shop smart and try to find the best deals around you. One of the categories where your budget can vary is through your household or grocery budget. MR.DOLLAR is the perfect place for you to shop for your essentials because at always RM2 or RM5, you can always easily budget your expenses.