One of the common complaints by Malaysian is the increasing cost of living. Many necessities, from groceries, clothes, book to properties and vehicles are experiencing a price increase.
However, there is always a silver lining in every cloud. There are still certain ways for Malaysians to practice smart spending and save their earnings. Here we outlined 4 useful money saving tips:
1.Save RM180 per month with the 30-days unlimited travel pass
This unlimited travel pass within 30 days RM100 and RM50 for rail and Rapid KL service was officially announced during Budget 2019. This pass help to ease the burden of frequent public transportation users. The pass, which can only be accessed via MyKad, MyTentera, and MyKid, provides 30-days unlimited pass for MRT, LRT, monorail, Rapid KL bus, Rapid Transit bus and MRT feeder bus services.
According to Minister of Transportation Anthony Loke, “Commuters using rail and bus services from Kajang to their place of work in KLCC now pay about RM280 a month or RM6.40 for a one-way trip. If they subscribe to the travel pass, they can save nearly RM180 per month”
This pass can be easily obtained at all Mass Rapid Transit (MRT) and Light Rapid Transit (LRT) stations, as well as four bus hubs at Bandar Shah Alam, Greenwood (Gombak), Sri Nilam (Ampang), and the Kajang Terminal.
2.Enjoy more discounts with membership programmes
Membership programmes are often looked down upon. Most of us do not want to sign up for membership programmes because we fail to see the advantages, although we shop at the same store multiple times per month.
By signing up with a membership program, we will be entitled to special discounts, amazing deals, and freebies. For example, Sushi King offers 10% discounts to all it’s members. Those who sign up for the Watson’s VIP membership programme get to enjoy discounts up to 15%, freebies, and point redemption gifts. AEON Big also has an interesting membership programme whereby members can redeem cash rebates.
Membership programmes are definitely beneficial and can lead to financial savings, especially in the long run.
3.Free meals for deserving school children with RMT
RMT stands for Rancangan Makanan Tambahan or Additional Meal Programme which provides free meals during recess for underprivileged primary school children. This programme is specially reserved for Malaysians which income falls below the Paras Garis Kemiskinan (PGK) Nasional or National Poverty Line.
|Household Income (RM)||Per Capita (RM)||Household Income (RM)||Per Capita (RM)|
|Sabah and Labuan||1,170||250||710||150|
The objective of RMT is to provide aid for lower income citizens and prevent stunted growth and malnutrition. Application for RMT can be made at the respective primary schools. For 2019, the government has allocated RM289million for this programme, of which RM250million will be used to provide RM2.50 worth of food for students in the peninsula while RM3.00 for those in Sabah, Sarawak and Labuan for 190 days, which is the minimum number of school days.
4.Enjoy special discounts with payments via E-Wallet
Earn more and pay less when you go cashless. There are varieties of safe and reliable e-wallets in Malaysia, including GrabPay, Boost and FavePay. The popularity of these e-wallets are on the rise due to their user friendliness, wide varieties of merchants, and special discounts.
For example, GrabPay users get to enjoy RM10 discount when purchasing KLIA express tickets while Boost users top up minimum RM30 for any telco for a chance to get 100% cashback (this information is accurate as of the date of writing this article)
There are lots of exciting discounts and cash rebates from various e-wallets. To find out more, just check out their website or social media pages. E-wallets allow you to get the best things in life without jeopardizing your bank account.
While the middle and lower income group are facing the growing cost of living, there is still hope for personal financial stability and savings by utilizing government aid, loyalty programmes, and special offers.
Follow our blog for more money saving and personal finance tips. This article is prepared by Direct Lending – a fast, simple and safe online personal loan platform for civil servants and private workers in Malaysia.