Top 10 Daily Habits That Is Making You Broke. (Survey Using 100 Malaysians) | WMA 富道学院

Top 10 Daily Habits That Is Making You Broke. (Survey Using 100 Malaysians!)

It’s that time of the month, you got your salary and decided to treat yourself to a meal, a good cup of coffee, and buy another pair of blue denim. But before you know it, you’re left with hardly any money for the remaining days of the month. begging no money GIF Don’t fret yet. You can control these inclinations and inculcate financial discipline. I spoke to 100 Malaysians across various fields and sectors and here are the 10 habits that we are all guilty of doing that is causing a  huge pothole in our wallet.

1. Dining out way too many times.

It is okay to dine out once in a while but everyday is gonna make a giant hole in your wallet. Based on the survey, more than 90% of Malaysians spend at least RM 20 on food everyday which is roughly RM600 every month! So, say goodbye to brunch, yamcha, mamak, coffee, takeaways, dinner dates and such and start cooking at home. Needless to say, it’s way healthier too.

2. Smoking.

Based on the survey, on average Malaysians are smoking 10 cigarettes a day. By this you’re not just doing the greatest disservice to your health, but also wasting more than RM3,000 in a year! And that’s excluding the medical costs in the likely event of a major health scare. So, STOP SMOKING!

3. Paying for Astro but not watching it.

100 out of the 100 people I spoke to, said they have subscribed to Astro and pay monthly but only 30% are watching shows regularly. So, if you’re someone who’s mostly glued to internet contents, you’d be well-advised to reconsider your expensive cable subscription. This way you’ll not only take advantage of a dozen cheaper streaming services out there but also stop paying extra for the scores of channels you don’t watch.

4. Upgrading electronic gadgets regularly.

60% of Malaysians says the change the phone or buy a new gadget every 6 months! Well, new smartphones and laptops hit the market every day, and you can’t deny they are very attractive and cool but that doesn’t mean you need to keep upgrading your gadgets to the latest trend. Put in some research and buy a quality device, and stick to it for a long time. And did you know you can get them repaired as well if something goes wrong? Just saying.

5. Purchasing groceries when you’re hungry.

Shopping for groceries when you’re hungry is like entering a money trap! You’ll end up buying a lot of products you don’t need. Keep in mind to have a meal before you make a trip to the supermarket. You’ll only focus on getting the essentials instead of exploring the aisles. Also, don’t be fool by deals like  “Beli 2 Dapat 1 Free” offers or “50% off in Second Item” and such. In all probability, these products are close to the expiry date. Plus most of the time, these products are priced higher than the actual cost of it.

6. Buying treats at the cinema.

It’s almost like a norm to snack on overpriced popcorn and sip on a pricey soda whilst watching a movie at the theatre. But is it necessary? No. Instead, you can eat a delicious meal at home before going to the theatre. This reduces the desire to spend on munchi. But, do not sneak in home food to the cinema, that’s breaking law!

7. Indulging in too many beauty products.

More than half of the women I spoke to said the spend at least RM 400 every month on skincare and cosmetic product alone. Skincare is essential but you do not need 6 type of lotions when they all serve the same purpose. The best way to cut down costs is to find a simple routine and choose products that are affordable, and most importantly, the ones you actually need. Avoid buying a product that’s unnecessarily pricey, unless it’s going to make a noticeable difference or has been prescribed by your dermatologist.

8. Going for premium fuel.

Your car will run fine on regular RON95. Buying premium RON97, unless your car engine is optimised for its use or it has been explicitly recommended for by the manufacturer, is a waste of money.

9. Selecting express shipping.

Waiting for your online order can be frustrating. But choosing express shipping costs extra money. Opt for standard shipping, unless you actually need something urgently. Plus, most online deliveries are quit fast and on time anyways, so be patient!!

10. Installing paid apps and going for in-app purchases.

For almost every paid app, there’s a free and legal version available online. Research the options that are available and choose the best free app there is. Also, resist the urge to buy coins to beat that tough level. It may seem less in the beginning but these expenses tend to snowball.   SOLUTION/ RECOMMENDATION: TO LEARN MORE ABOUT WEALTH MANAGEMENT AND TIPS TO A HEALTHIER AND WEALTHIER LIFESTYLE DO CHECK OUT WMA.