Thursday, February 6, 2025
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10 Simple Ways to Save Money Every Month in Malaysia and Singapore

Saving money doesn’t have to mean sacrificing all your comforts or enjoyment. With a few small adjustments to your daily habits and smart financial planning, you can set aside more for your goals. Here are 10 practical tips to help you save money every month in Malaysia and Singapore.


1. Track Your Spending

Before you can save, you need to know where your money is going. Use apps or spreadsheets to monitor your expenses.

  • Apps to try:
    • Malaysia: Money Lover, My Tabung.
    • Singapore: Seedly, Spendee.

Pro Tip: Categorize your expenses into “Needs,” “Wants,” and “Savings” to identify areas for improvement.


2. Automate Your Savings

Set up an automated transfer to your savings account every month. Treat it like a mandatory bill to ensure consistency.

  • High-interest accounts:
    • Malaysia: Maybank MAE, CIMB FastSaver.
    • Singapore: DBS Multiplier, OCBC 360.

Goal: Start with 10% of your monthly income and increase it gradually.


3. Cut Down on Unnecessary Subscriptions

Audit your subscriptions regularly to cancel those you no longer use, such as streaming services, gym memberships, or delivery subscriptions.

Example: If you’re using only Netflix, do you also need Disney+ and Amazon Prime?


4. Cook at Home

Dining out or ordering food delivery frequently can eat up your budget. Try meal prepping or cooking at home more often.

  • Malaysia: Opt for local wet markets for fresh produce at affordable prices.
  • Singapore: Shop at NTUC FairPrice or Sheng Siong for budget-friendly groceries.

Bonus: Pack your meals for work to save on lunch expenses.


5. Take Advantage of Discounts and Cashback

Look out for discounts, promotions, and cashback programs when shopping.

Pro Tip: Combine discounts with loyalty programs to maximize savings.


6. Use Public Transportation

Driving a car can be expensive due to fuel, tolls, parking, and maintenance. Opt for public transportation where possible.

  • Malaysia: Use the MRT, LRT, or Rapid KL buses.
  • Singapore: Leverage the MRT and buses with EZ-Link cards for discounts.

Bonus: Walk or cycle short distances to save even more.


7. Plan Your Purchases

Avoid impulse buys by creating a shopping list and sticking to it. For big-ticket items, wait for sales periods like:

  • Malaysia: 11.11, 12.12, and Ramadan sales.
  • Singapore: Great Singapore Sale (GSS) and year-end promotions.

Rule: Follow the 30-day rule — wait 30 days before buying non-essential items to decide if it’s truly necessary.


8. Switch to Energy-Efficient Habits

Save on utility bills by reducing energy consumption:

  • Use energy-efficient appliances.
  • Turn off lights and unplug devices when not in use.
  • Opt for natural ventilation instead of air-conditioning whenever possible.

Bonus: In Singapore, check for rebates under the Utilities-Save (U-Save) program.


9. Buy Preloved or Refurbished Items

Instead of buying everything brand new, consider preloved or refurbished items.

  • Where to shop:
    • Malaysia: Carousell, Mudah.my.
    • Singapore: Carousell, Cash Converters.

Good finds: Furniture, electronics, and even branded clothing.


10. Take Advantage of Tax Reliefs

Don’t leave money on the table. Both Malaysia and Singapore offer tax reliefs and rebates.

  • Malaysia: Claim deductions for education, insurance, medical expenses, and lifestyle purchases (e.g., books and fitness equipment).
  • Singapore: Explore schemes like the Workfare Income Supplement (WIS) and tax reliefs for CPF contributions.

Pro Tip: Consult a tax advisor or use online calculators to maximize your claims.


Saving money doesn’t have to be overwhelming. By implementing these small changes, you can build healthy financial habits and work toward your goals. Start with a few of these tips, track your progress, and watch your savings grow month by month.

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