When I was a child, I often heard people talk about saving money, but I never really understood how to start. In this post, I’ll share how I started saving money.
Things finally changed after I came back from the UK. I wanted to travel more and see new places, and I realized that saving money was essential. I also learned that starting to save only when you’re older isn’t always enough.
For example, in 2010, a bowl of noodles cost RM10, but by 2020, the same bowl cost RM20. So the RM10 you saved in the past might not be worth as much in the future. I’m thankful that technology has made it easier to discover different ways to make and save money. It’s not just about saving from your salary anymore—there are many new options to explore.
How I Started Saving Money Through Investments
One thing I’ve learned is that you should always understand any investment before putting in your money. I’ve shared some fund-saving plans on RED before, and many people found them helpful, so I wanted to share them here too.
In Malaysia, there’s a good investment option called Amanah Saham Nasional Berhad (ASNB). It’s a national trust fund, and trust funds generally give higher returns than regular savings accounts. In recent years, ASNB funds have returned about 5% to 6% annually.
ASNB offers different types of funds, mainly divided into fixed price and floating price. Today, I want to focus on the fixed-price ASM Trust Funds, which include ASM, ASM2, and ASM3. The unit price for buying and selling is always RM1.00. Investors earn annual dividends, usually around 5% to 6%.
The good news is that you can now apply and invest online. The only downside is that these funds can sell out very quickly.
How I Started Saving Money with Freelance Income
Even if you have a full-time job, you can look for freelance work to earn extra income and learn new skills. For example, if you enjoy photography, you could offer photo shoots in your spare time.
Freelance jobs let you control your schedule and work only when you have time. You can find freelance opportunities easily online. I’ve been searching on platforms like Upwork, Freelancer, Fiverr, and Workana.
If you have any freelance ideas or experiences, I’d love to hear them!
Saving Money in a Separate Bank Account
I have accounts in two different banks, each for a different purpose. At first, I didn’t think it was necessary to have multiple accounts. But now I’ve seen the benefits.
One of my accounts is rarely used, and it’s in a bank far away from my home. I use this account just for saving money. Because it’s not convenient to access, it helps me avoid spending the money impulsively. It’s become a good habit that has really helped me save more consistently.
Saving money takes discipline, and it’s important to control unnecessary spending. That’s how I’ve managed to save and start building a better financial future.
Do you have any tips or experiences about saving money? I’d love to hear them!
🌸 For more cozy content, here’s my post on simple joys in daily life.
✈️ Want something travel-themed instead? Read my solo trip to London experience.
🍿 Looking for Movies Plans? Read this The Best Disney Movies I’m Planning To Watch Soon
Thanks so much for reading.
Have a beautiful day.
— Jerserry 🌸
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