Three Doable Strategies You Can Try To Save Money – Allocate some amount of money that you received from your monthly salary might be though enough according someone’s lifestyle nowadays. In Malaysia, almost all fresh graduates received around RM2800-RM3800 per month to start their career upon graduation.
Kongsi Lah! will share some tips for you to try to make at least RM100 per month as for your saving money for emergency in future.
We understand when the pandemic is over, we need to restart and reset back our domestic economy especially for those who were being went through massive retrenchment during the pandemic in 2020-2022. This article is suitable for those who are having difficulties in making emergency saving on monthly basis.
In this article, we will info and share our doable and applicable for everyone especially for beginners to start their saving to achieve financial freedom. We have tried to follow these 3 methods and manage to save almost RM100 per month or even more. Lets get started!
Money Colours
In this strategy, we utilize the varieties of colours and design of every pieces of money. For example, RM1 was printed in blue dominant colours. Hence allocate some amount in pieces to put inside the physical money box. Kongsi Lah! ever tried this by putting 3 (Three) pieces of blue colours money every day in a physical money box without failed.
For RM1 (Three pieces) everyday without failed, you will managed to get approximately about RM90-RM93 at the end of the month. This strategy suitable for everyone especially for beginners. Keep consistently doing this for about 3-4 months, and you will have to expand your saving by using next strategy we share here. Kongsi Lah!
Recurring Invest & Saving
The next strategy is more though and advance. It is one step more to become force saving. Kongsi Lah! will share about two instrument for invest and saving that you can request direct deposit from your debit card on weekly or monthly basis.
Wahed Invest
Wahed Invest in one of the instrument we can recommend to you when you passed the previous strategy. With minimum amount of RM50 per transaction, you can deposit RM50 weekly/monthly according your monthly income. We suggest you to make deposit of RM50 on monthly basis at first, before move to another level.
Wahed Invest is one of robo investment in Malaysia. Again, this is an investment tool not only for saving. Here you can choose your own portfolio from Low Risk, Moderate and Aggressive. For the first time user, we recommend you to choose the low risk at first and see your money will grow within a week of two. For the long term investment, we recommend you this awesome instrument.
Just download the App from Google Play or Apple Store, and register through there. Upon verification process succeed, you are now able to start make recurring deposit on weekly or monthly basis.
Tabung Haji Auto Debit
Tabung Haji become our second choice for this second strategy of recurring invest/saving. This is fully saving instrument you can choose to make deposit on monthly basis. As low as RM50 per month, you may go to your bank where your monthly salary credited to make an auto debit into your Tabung Haji /THiJARI and choose the date as the same date of your payday.
By consistently doing this for 3-4 months, you will managed to get RM150-RM200.
Crypto Currency Exchanger
Last and the least, Kongsi Lah! would like to share one advance strategy to grow your money while saving. In this strategy we use the features of crypto exchanger like Bybit and Binance. This article will focus on invest crypto for long term period of time and not trading crypto. We advised you to skip this if you are advance and expert crypto currency trader.
Staking USD
Staking USD is one of easy strategy to grow your saving. To make it easy, you save your money in USD or ETH or maybe Bitcoin in your ByBit or Binance account, and send the amount of USD or cypto to Earn features or Staking features. This amount will receive interest per annum up to 17%.
Let’s take one example, you buy send USD100 into your Binance account. And send this amount to one of features in Binance which is Binance “Earn”
This USD100 somehow will grow on daily basis based on percentage per annum of certain currency or crypto. Different crypto or currency have different interest. This strategy works for us and we managed to earn at least USD0.10 per day by saving +-USD250 in Binance. It was an awesome features you should try in Binance and ByBit.
USD0.10 per day while you do nothing. Doesn’t sound good? at least your saving is growing and not stand still like what we use to do old those time we save our all money into conventional bank.
We not encourage you to trade your USD or Crypto since trading need skills and some peoples invest for knowledge for many years to do crypto currency trading. Event though for copy trading crypto currency, we not decided to write on this article at this moment. We rather to publish it in different segment or categories in the future.
Invest in Bitcoin
Bonus for Kongsi Lah! readers, we grant you to the world biggest secret in making easy money by invest in Bitcoin. For disclaimer, invest and trading is a different thing. We encourage to invest and let the Bitcoin in your exchanger in 3-4 months before you notice the increament or a significant increase in your balance once Bitcoin reach more that USD70k ++ this year of 2024.
This article wrote in August 2024, we still have another 4 months plus to enter the new year of 2025. Why not give try tp invest in Bitcoin today and we promise you to bring back this article in January 2025.
Also Read : Activities you can do in Penang Island!
Have you gain something by reading this article? Please do not hesitate to drop your comment below and share your thoughts! We are eager to be criticized in order for us to grow in writing a good and quality contents in Kongsi Lah! website.
