Dream of living in the big, magnificent city such as Kuala
Lumpur but short on funds? Fret not! Here are several methods to cut down your
expenses and live with less than RM1000 on a monthly basis.
1.
Insurance
Paying
for insurance is optional, but it is an important investment to make in the
long-term. Whether it is for home loan, car, medical, health, life or
educational purposes, investing in insurance will provide a safe outlet for you
and your family to recover huge costs once catastrophe strikes. As an example,
you can get Prudential Medical Insurance
for as low as RM100 per month with a claimable lifetime limit up to RM500, 000.
Cost = RM100
2.
Bill payments
This
is the largest perpetrator of all costs of living. Utilities such as phone,
electricity and water do not come free in life. With a reduced usage of these
items, you can save a lot on extra costs and expenses. A basic 3GB mobile phone
plan only costs RM48 per month, and a 500 kWh TNB
electricity bill incurs cost of RM
174.87. Meanwhile, a typical SYABAS water bill
in an average household is between RM50 – RM60.
Costs = RM48 + RM174.87+ RM100 = RM322.97
3.
Groceries
It
is difficult to make ends meet with RM1000 if you choose to eat out every day.
Consider cooking at home or prepack food for the whole day to reduce food
expenses. Mamaks and hipster coffee places can cost up to RM20 per visit,
leading to huge unnecessary expenses on meals and drinks. Make time to buy
groceries from your local supermarket and choose affordable items within
budget. With a mere RM60 per week, you have a month’s supply of food for your
own consumption. Not only will you enhance your cooking ability, it is a
healthier option compared to eating outdoors.
Cost = RM60 x 5 = RM300
4.
Transportation
If you possess your own
transport, petrol and maintenance costs prove to be burdening. Look out for a petrol credit card from your local bank that provides you with maximum
benefits each time you refill your tank. It is definitely cheaper and more
convenient to pay by card rather than in cash. In fact, you get massive petrol
points to redeem rewards with a credit card that suits your needs. One RM50
tank refill can last up to a week depending on frequency of usage, the sum in 5
weeks will be a total of RM250.
Cost = RM50 x 5 = RM250
Cutting expenses on insurance, bills, groceries while
using Malaysia’s best credit card for petrol, you can live in the city for RM972.97. Especially with the minimum wage of RM900 for private
sector workers implemented in Peninsular Malaysia and RM800 in Sabah and
Sarawak, living under RM1000 is do-able. A handful of Malaysian citizens are
also said to live below the aforementioned figure, therefore, you can do it
too! Living within your means without the expense of comfort is highly
recommended for fresh graduates and those who earn minimum wages.
Start today!
http://ck5354.blogspot.my/2016/05/live-comfortably-with-less-than-rm1000.html
