Step 1: Set a goal

As obvious as it may sound, setting a goal is a top priority before you decide on other things. In this context, you should decide on where you want to go before you can even begin estimate how much you should save up for things like tickets, accommodation, food, budgeting and other things. Once you’ve decided on a goal, it will be much easier to work towards it; rather than changing your mind (along with your budget) every few days.

Step 2: Know your expenditure

Since money is so important, you should pick up the habit of tracking your expenditure. Find out where you are spending your money on. Many a times we get our full month’s worth of salary by the start of the month (oh happy days), only to find out that we don’t even have enough to survive till the end of the month a few weeks later. WHERE HAS MY MONEY GONE TO? That’s the common question. Once you’ve started tracking your expenses, you might find out that you’re smoking too much of your money away monthly, or you buy new things that you can completely leave without. Time to have a look at your expenses and do something about it. It can be either by downgrading your internet plan, cancel your gym membership (exercising outdoors is free anyway), or even carpool to work and save on that gasoline.

Step 3: Save money whenever possible

Saving money is actually quite easy. See those little coins lying around your house or your car because they are just too insignificant in today’s economy? Those can be worth that 10 Ringgit in your wallet if you’ve collected enough of them. Time to look for them and put it into a jar!

You can also set a specific amount aside daily; say 5 Ringgit a day perhaps? You can even challenge your travel buddies to a saving competition to see who can save up the most in a few months’ time. A little competition definitely helps in motivating people to save money.

Step 4: Sell your stuff

Let’s face it; all of us have at least one or two unwanted or unneeded item lying around the house gathering dust. It could be your out-of-fashion old clothes, or even books that have been read over and over. Why not consider selling them?

Selling pre-loved items not only gets you that much needed extra cash, it also helps in making extra space in your shelves or wardrobe magically appear.

However, do not be tempted to refill those spaces with new things unless you REALLY need it.

Step 5: Do odd jobs

Remember when we were kids, we would wash our dad’s aquarium for 5 Ringgit? Or the time you wash you mom’s car for 10 Ringgit. When you’re short on cash, it’s time to offer your service, skill or expertise for some extra income. While it’s true that not everyone has the time for a second job, you can however choose to do something small and yet, enjoyable. Be a tuition teacher, football coach or swimming instructor for children, all for a small fee. What are you waiting for? Never try, never know!