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In search of the art of making more money

Archive for November, 2007

Tips to saving moolah - #003

Sunday, November 25th, 2007

Go digital with your bills
You might not notice it, but some of your service providers actually charge you to send you your monthly bill or statement. If you go through the fine print, you might just find it. For me, it was my monthly mobile phone bills. My service provider, Maxis, actually charged me RM5 to send me a printed bill monthly. Not much, sure, but it is still moolah that I can save, right? Also, the less paper you use the more you’re helping to save our environment. There’s just one thing I need to warn you about though. Even though the physical paper bill stops coming to your house, you should always check your electronic bill as you would the physical one.

Cost of switch? Nil. I just logged on to my account online and requested that they send me the statement via email instead.
Savings? RM5 monthly
In the long run? RM5 x 12 months = RM60 annually

I used to think that I could not possibly find a single sen more from where I was already spending it. I was wrong. Heh. All I needed to do was look at it from a different angle. (Now as always, I’m not the type to go and give you advice that I myself have not done before.)

Malaysian 1 sen coin to be phased out

Thursday, November 15th, 2007

I’m one day late with this news, but better late than never, eh? The Malaysian government announced yesterday that by 01 April 2008, the ubiquitous 1 sen coin would no longer be legal tender. This effectively means that the consumer has about five months to get rid of whatever 1 sen coins they have lying around in their pockets, purses, cars and houses before it becomes a worthless copper coin. The Bank Negara says it will save RM18 million yearly on production of 1 sen coins with the implementation next year.

However, consumers are informed that ALL payment totals will be either rounded up or rounded down depending on the final total. I wonder whether the consumer will benefit from this move or will businesses stand to gain more? In the long run, I think businesses will stand to gain in the long run as I’m sure that prices of a lot of goods will be ‘restructured’ to take advantage of this situation. This is even more incentive for me personally to save more because this ‘penny saved’ can never be earned again in the future!

Tips to saving moolah - #002

Thursday, November 8th, 2007

Ditch your pay TV subscription (or lower it)
More and more middle class homes have pay TV subscriptions nowadays, with hundreds of channels at your fingertips, compared to the days of old when there was only two or three channels to choose from and having a television set was a real big thing. I got along just fine in my childhood with three terrestrial channels to watch and the only time cartoons were on were the weekends. Then came pay TV - in my case, the now defunct MegaTV and later Astro. We signed up for pay TV against the mild protests of my mum, which was pacified with the introduction of Hong Kong movie/serial channels. As always, it took a pay increase by the service provider (Astro) to wake us up.

Ever the voice of prudence, my mum suggested that we ditch it completely. I protested. We reached a happy (for now) compromise by dropping the Asian, news, cartoon and movie packages but retaining the basic package together with the sports and learning packages. That cut our monthly bill by around 40% immediately. And we found that we really didn’t need all those other channels after all. We might go ahead and cut down even more packages if I can find a cheap alternative for watching all of my favorite series.

Cost of switch? Nil. I just had to place a call in to the service provider and the change was effected instantly.
Savings? RM105 - RM60 = RM45
In the long run? Assuming 1 year duration on average = RM540

I used to think that I could not possibly find a single sen more from where I was already spending it. I was wrong. Heh. All I needed to do was look at it from a different angle. (Now as always, I’m not the type to go and give you advice that I myself have not done before.)

Tips to saving moolah - #001

Thursday, November 1st, 2007

Besides making more moolah, another way of finding more moolah in your pocket is to save it. Any tips on saving moolah on this site will be marked with the same title as shown above and a serial number.

I used to think that I could not possibly find a single sen more from where I was already spending it. I was wrong. Heh. All I needed to do was look at it from a different angle. (Now as always, I’m not the type to go and give you advice that I myself have not done before.)

Stop buying the daily newspaper
I used to think that the daily papers was a necessity. When I traveled by commuter train, I could get a free copy of The Sun but when I switched to driving my car, I ended up buying The Star daily because my office building didn’t have the free paper giveaway. Then when the prices of newspapers increased, I thought, hey, I can do without this. I don’t need to know everything that’s going on in Malaysia right now and don’t you think the papers print mostly bad news anyway?

Nowadays, I just go online and read the headlines that interest me. I’m not denying that there’s something very retro about hearing the newspaper pages rustle and actually feeling it in your hands but think of it this way - you’re also saving the environment this way because fewer trees have to be cut down to produce newsprint.

I’ve also tried to convince my father to do the same and while he’s managed to do so on weekdays, he never fails to buy the papers on weekends (even though he could read it online like I do). I don’t nag him for it because it’s already a savings that we don’t bring back two copies of the same day’s news.

Cost of switch? Nil. It just took a change of routine.
Savings? RM1.20 (weekdays) x 20 days + RM1.50 (weekends) x 8 days = RM36
In the long run? Assuming 1 year duration on average = RM432