How To Hack Your Expenses The 'Kiamsap' Way

Don't be ashamed; these things happen to the best of us sometimes.

So, if you’re so broke right now and you need a way out, then you're in luck!

Follow these steps and we guarantee that you'll have more than enough money left by the end of the month.

GENERAL

1. Have a no-spend month Finance journalist Michelle McGagh had a no-spend year. She saved £22,000 (approximately RM120,000). Basically, a no-spend month means you don’t spend on anything except the essential expenses such as bills, insurance and groceries. Define what you can’t go without and forgo the rest.

2. Stop confusing needs and wants “I neeeed the new iPhone!” No, you don’t. You want it. Newsflash: you won’t die without it.

3. Save the leftovers At the end of every day, if you have any RM1 or RM5 notes in your wallet, take them out and put them in the piggy bank.

4. If you can’t afford it, quit it Smoking, drinking, gambling, partying and artisanal coffees; sometimes these habits break the bank.

5. Two’s company Get two bank accounts. Mark one for income and bills. Mark the other for savings.

6. Automate your savings You’ll save even before you start spending.

7. Desperate measures Freeze your credit cards and hide them in the freezer. Really compulsive shoppers should cut up their credit cards.

8. Do it yourself Whether it’s fixing torn seams or unclogging the toilet, you could save thousands by doing your own repairs.

9. Check receipts and scan registers We would like to think every Malaysian has this down pat.

10. Check automated monthly recurring payments You might be paying for subscriptions you barely use.

BUDGETING 11. Create a budget You can create really cool budgets with a bullet journal, Microsoft Excel and apps like Spendee and You Need a Budget.

12. Withdraw a set amount of cash Use only that to pay for expenses for the rest of the month.

13. Adopt the envelope method At the start of each month, withdraw cash to cover all the spending categories. Put a set amount into an envelope for each category. Once you’re out of cash in, say, the “Entertainment” category, you’re done spending on entertainment until the next month rolls over.

14. Record every single sum you spend At the end of the day or at the amount of spending, record it. You’ll be more cautious of how much you spend if you acknowledge it.

BILLS

15. Break up with your bank If your bank’s maintenance fees are way too high for you, it’s time to say buh-bye!

16. Unplug Pulling the plugs whenever you aren’t using your housing appliances will lower energy usage and your electricity bill.

17. Cancel newspapers and magazine subscriptions Buy only what you really need.

DISCOUNTS & DEALS

18. Use discount coupons and vouchers From bank and credit card discounts to “We’re sorry we delivered your pizza late” vouchers, we’re not lacking in bargains. Shopback gives you cash back every time you spend money.

19. Promotions Take advantage of birthday freebies, happy hours, ladies nights etc.

20. PTPTN relief According to the 2017 Budget, loan holders get 15% off if they pay the balance off all at once. There are other discounts too.

21. Use shopping apps such as Entertainer and Fave to get discounts But avoid this if you're a shopaholic because you may be tempted to spend more just to feel like you actually get your money's worth

22. Use company benefits You could be covered in so many ways, such as insurance, petrol coverage, discounts on company and affiliates’ products or properties.

23. Keep your eyes open for giveaways and contests Freebies Land Malaysia and Giveaway Contest in Malaysia update you on all giveaways in the country.

FOOD

24. Eat out less We hate to say it, but food costs a bomb. Even roti canai costs at least RM1.20 these days. So, stay in and cook up a storm.

25. Cook your leftovers Use whatever’s in the fridge and create new recipes. You can also take it easy on yourself and use Supercook.

26. Go vegetarian every other week You'll save so much on groceries brcause veggies cost a lot less. 1kg of chicken breasts – RM11.87, 1kg of beef – RM24.21 but 1kg of potatoes? Only RM 3.98. Do the math.

27. Bring your own stuff Pre-packed lunch/dinner/drink/beer and you can still spend time with your friends and co-workers

BODY28. Free exercise Stop paying RM120/month gym fees. Go jogging at a park or go swimming in the local pool. If you have a gym in your school/condo/workplace, use it.

29. Get a low-maintenance hairstyle Rid yourself of the need to maintain your perm or dyed hair. If you have short hair, you’ll also use less shampoo and blow-dry your hair less often.

30. Get a free haircut Hairdressing academies such as Snips International require live models for their students’ graduation hair shows. So, you can volunteer yourself as tribute.

COMMUNICATION31. Switch telcos Don't get tied into a contract because this prevents you from getting a better deal. If your telco is charging you RM100 for 10 GB while you only really use 1 GB a month, you’re giving your money away.

32. Free communication methods are your new best friends Forget SMSes; Skype, Whatsapp, Viber, Telegram, Facebook, Twitter and Instagram chat will help you cut down on your phone bills. Thank goodness for the internet.

ENTERTAINMENT 33. Befriend your library Be like Belle. Get free books. Many libraries also have surprisingly large DVD collections.

34. Go to book exchanges Book exchange spots are sprouting up all over the Klang Valley from KL Book Exchange to Subang Parade to The Curve.

35. Netflix and chill You don’t have to throw out your newly bought LED TV but you can cut your pay TV subscription. Get iflix or share a Netflix plan with your friends.

36. Share a Spotify account with your family Better yet, just listen to free music for on YouTube or radio stations.

HOUSING

37. The more, the merrier If you're renting a whole apartment just for yourself, consider getting some housemates.

38. Move back in with your parents Renting in KL is just too much. And with low pay and loans to pay, times are hard. Don’t judge, okay?

SHOPPING39. Shop at your local pasar Whether it’s the pasar pagi or pasar malam, you can always get better prices there.

40. Shop at less expensive supermarkets Instead of shopping at a high-end supermarket where a box of cherries can cost RM80, choose supermarkets that are friendlier to your wallet such as Giant, Tesco, and AEON BIG.

41. Use generic brands Well-known brands usually cost a lot more than generic brands. Compare the ingredients. If the ingredients are 90% similar, use the generic brand.

42. Don't buy things at full prices Buy things during sales and warehouse sales: year end/New Year’s Eve, CNY, mid-year, clearance sale, Raya sales, Deepavali sales. Bookmark Everyday On Sales for updates on all sales in Malaysia.

43. Go preloved From apps such as Carousell to charity shops such as Kedai Bless to Buy and Sell Facebook groups, you can get nearly anything for a fraction of the original price.

44. Compare prices Online or offline, always compare prices.

45. Borrow, borrow, borrow Instead of buying something brand new, borrow what you need from your friends and family members.

46. Do a clothes swap Need new clothes? Don't buy, shop from your friends’ closets instead. The swap could be temporary or permanent. You set the rules.

47. Shop at Pasar Percuma As the name suggests, all the items are free. But do express your gratitude to the giver.

48. Bring water everywhere If you’ve been buying mineral water (minimum RM1.80 at convenience stores) daily, you’re wasting at least RM657 a year.

SOCIAL49. Have less expensive date nights Google “cheap/free date ideas”. You’ll see at least 30 ways to save your Ringgit. Play Monopoly. Have a movie marathon at home. Build a fort in your garden. Go hiking.

50. Everybody loves free events Community games, swing dance sessions, arthouse film screenings and art festivals; there are countless events you can attend FOC.

51. Be a hermit If you really want to save up to 70% of your income, be a homebody. Stay home and you could see your expenses go down by as much as RM300-RM1000 a month.

TRANSPORT

52. Use public transport more often Lesser cars on the road is a good thing. Less traffic for the rest of us. *winks* Good for our environment too.

53. Carpool and split the expenses We heard you can share rides using Grab nowadays.