Easy Saving Money Methods For Beginners

Introduction

Having a big amount of saving at the end of the year might be the bis bonus for everyone. In some conditions, peoples nowadays also having a big difficulties on how to begin the saving money for emergency fund or maybe for the end year vacation every year. Here we will share to our readers on the easiest methods to start make a saving everyone regardless of your purposes. Perhaps, to create an emergency fund at least 6 months of your montly salary!  Let us go through this “Easy Saving Money Methods For Beginners” article.

Why Peoples Struggle To Save Money

There are few reasons on why peoples nowadays very hard to have at least 6 months of their monthly salary as their emergency fund. In this article we will share the commons three reasons on why saving money failed for almost all fresh graduated out there.

Low Income

We are all realised that there are still many companies outside there to offer the minimum or even low renumeration packages for the fresh graduates to begins their life as a worker upon graduation. The trend of the salary in many fields escpecially in engineering in Malaysia since 2000s until present day, are not much different.

With the increase of the living cost, educations fees, fuel price, and etc, this will lead the freshies out there struggle to achieve their goal to have emergency fund.

High end or Wealthy Appearance

Having a high class lifestyle that not suit with your economy conditions, almost become commons for freshies nowadays. Eventhough it is normal to look good, great or to look successful person among your family and friends when you first receive your first salary on your first job upon graduation from university, it is not necessary to overrated others persons that you are successful person. In fact, no body cares about it at all.

Success is something that you gain and impress is something you earn from your achievement in office, towards your community and among your family members. It is something that you cannot try hardly to proof or force impress to others. In easy words, success is not to show off but it will speaks for you without forcing yourself to proof on it.

Remember, the goal is to become successfull and rich person, not to look successful or to look like rich people infact, you have no saving in your bank account.

Awareness

Knowledge is the key to everything that you eager to achieve. Those rich persons in the world will rather to spends their money to invest in knowledge and improving their skillsets. When it turn to money saving topics, to begins your first step to achive at least 6 months salary of saving, knowledge is the must. Then there will be a courage for you to start.

Awareness on what will happens if you are got fired from your position, what will happens if you all of sudden fall sick and need long treatment at the hospital and so on, are fundemental things or reasons why peoples out there able to save money for emergency fund at least 6 months of their monthly salary. It is becaus they already know and they have awareness on this. Hence, emergency saving is a must for them at the first place.

Colours Money Strategy

This colours money strategy is the easiest way for beginners to take their first step to save money. In Malaysia, there are more than three colours represents the bank notes. As example, RM1 with blue colour, RM5 with green colour and RM10 coloured with red.

First step is to decide which colour or amount you willing to sacrifice on weekly or monthly for your saving jar for emergency money fund. Put them in other bank account or physically money box. Do this for at least 4 months without failure. Once done, you move to another colour for another 4 months without failure and do this without failure until the end of the year. Here is the simple calculation if you save RM1 for 4 months, RM5 for another 4 months and RM10 for the last 4 months before year end.

RM1 x 4 Weeks = RM4
RM4 x 4 Months = RM16 (From January – April)

RM5 x 4 Weeks = RM20
RM20 x 4 Months = RM80 (From May – August)

RM10 x 4 Weeks = RM40
RM40 x 4 Months = RM160 (From September – December)

Total RM256

Alternatively, you may decide to keep only one colour for your money saving strategy throughout the year. The example as below if you chose to save RM10 on weekly basis.

RM10 x 4 Weeks = RM40
RM40 x 12 Months = RM480

Total RM480

Coins Collector

Second strategy in this Easy Saving Money Methods For Beginners article is to collect as many coins as you could. Put them in another money box. Regardless of what condition whenever you have coins money in your hands, put it aside and save them into money box for one year.

Conclusion

Saving money is easy when we have the courage to do it and a good knowledge on how to make this happens. To aim the big amount of saving, it should always begins with a small awareness and small amount as we climb the hill or stairs one by one without failure.

We hope this article Easy Saving Money Methods For Beginners might helps you to begins your first step money saving.