Sometimes, we tend to get caught up in the moment and spend money on things that we don’t need. As Malaysians, moments like these often happen to us. When you actually sit down and think of the many other ways you could have used the money you recklessly spent, you'd realise how dumb the whole situation is. So think twice before you commit to these unnecessary ways of wasting money.
1) It’s New, That’s Why I Buy!
Are you one of those people, who buy things just because they are new? New phone, new car, new jeans or new pair of shoes? Companies create new things to entice you, but it doesn’t mean that you have to rush and queue to buy it if you already have one that’s working perfectly well.
2) OMG, it's 70% Off!
There’s a reason why these discount signs are so huge - to attract people from a distance. Everyone likes a good deal and to most Malaysian, a good deal is when you save money by actually spending it. It’s fine if it’s something that you need, but don’t force yourself to buy something you don’t need just because it’s on sale.
3) Clearance Sale!
You know how it is when you enter a shop and there’s a section with a “Clearance Sale” sign hanging over it? If you do, then you probably are one of these people, who rush over to see what is on display. Remember, don’t buy things your household doesn’t need. Also, things on clearance sale are most likely not in good shape, which is why the shop is getting rid of it in the first place. Think about that next time!
4) Buying Other People’s Crap
Do you look forward to attending a garage sale just to buy things at cheap prices? Garage sale is when someone you know sells their things at cheaper prices. It usually happens in situations where the person is moving away or just wants to get rid of some of the stuffs. Again, no need to buy if you don’t need it! Also, it’s called other people’s “crap” for a reason!
5) Possessing Too Many Credit Cards
Lesson no. 5 in ways on how to not spend unnecessary money is to use credit cards wisely. Think before you decide to add more credit card to your wallet. Don’t get too tempted by what banks advertise, look for banks that don’t charge you for services you don’t deserve to be charged for.
6) Forgoing The Discount Cards
These days, shops offer their customers the chance to sign up for loyalty cards. Always sign up, especially if the cards are free. Sounds like cheapskate but forgoing the free discounts or perks is a waste. Think about it.
7) Eating Out
Unless you are constantly on the road, there’s no reason for you to be eating out all the time. You are wasting money on gas and on food that you could have cooked by yourself in a healthier and cheaper way. Don't be lazy, just cook something!
8) Investing In Properties
It used to be some kind of fashion before to invest in properties. Well, with the bad economy these days in Malaysia, the properties section has suffered the most. So many houses, flats and apartments are lying empty. So think again before you invest in properties, unless you are prepared to hold property instead of cash for a long period.
9) Paying for Memberships When You Are Not Even Going To Use It
We are often told how cheaper it would be if we just become a member (or by paying up front). Unless, you are sure that you are going to use it regularly, don’t waste money your money. Just like some people who think that they need a gym membership, they usually end up going not even once a month.
Do you find yourself spending money on subscriptions you don’t even need? Like subscribing to cable TV, when you are not even home all the time or magazine subscription when you can read it on the internet. Think before you subscribe, why waste money on a monthly subscription fee?