Saturday, September 13, 2008

Strectching Your Ringgit

Here are some practical do’s and don'ts.

*keep up with others. Your relatives just spent
RM 100,000 on renovating their house. Good for them. Your best friend just bought 200,000 shares in a public-listed company. Congratulate him, but you don’t have to do the same. Be mindful that pride and greed often precede many a financial downfall.

*Patience can be a money-saver. If you are planning to upgrade your cell phone, computer, digital or video camera, don’t. Wait for hand-me-downs from others.

*Cut down on eating out. Nothing beats home-cooked meals for better nutritional value and savings.

*Go for cheaper alternatives. A RM 200 watch serves the same purpose as a RM 2,000 one.

*Be prepared to make small adjustments to your lifestyle. For example, take fewer holiday trips abroad, or travel economy class and stay in budget hotels.

*Buy bulk or economy-size. Do your maths before you make a purchase.

*Look for special offers and sales. If you enjoy reading, check out publishers’ warehouse sales.

*Keep just one credit card to curb excesses in spending. It’s a good idea to collect privilege cards like those issued by hypermarkets,departmental stores, book chains, and restaurants. They allow you to accumulate points that you can exchange for gifts or cash vouchers.

*Keep a record of every purchase you make, and total the figures at the end of the month. You will be amazed at how much you have spent.There’s no need to make big sacrifices or put a lid on our favourite pastimes.We can still have our cake and eat it-minus the icing.

Source:The Star Monday August 11,2008


Dina said...

that's a very useful do's and don't s list.

Hotmama said...

Hi dina, yup its very helpfull.Me also want to practice it.