We can hardly deny that spending our money is much easier than saving them. Payday often “motivates” some working class to go on a spending spree for the purpose of rewarding themselves after a hectic month.
Little do we know, our spending habits may have contributed to the failure of being able to save enough money. Just recently, on her TikTok account, a financial planner, Hilyati shared six habits of some working class that open doors to more financial issues.
Are you ready to find out if you (unfortunately) are able to tick off any of these checklists?
- Daily dose of (fancy) caffeine
Back then, it was the good old Kopi O’ from the iconic and legendary Kopitiam that would satisfy your daily caffeine craving. However, times have changed.
It’s not uncommon to spot some students who barely make any money holding a cup of fancy coffee in their hands. If you can’t spot one in real life, you’ll probably find one in the Insta stories of your friends. Generally, a cup of Iced Latte would cost about RM12-Rm15, and some places charge even higher than that.
“As students, they’re happily purchasing expensive coffees. Life has to be stylish”, Yati sarcastically commented.
- Credit card debts
In love with something but can’t afford to buy it? In fear of regret if you don’t get yourself that fancy clothes, shoes or any random attire? Look no further than the saviour – credit card.
People are aware that credit card debts are due every month after you have received your paycheck. Unfortunately, such a mentality is what slowly seals our fate as the debts tend to increase without us realising it.
If you’re a keen user of credit cards, you might want to trace your spending habits!
- New movie is out!
Movie enthusiasts, especially, will find the opportunity to catch the latest flicks in the theatre for an immersive experience. While there’s nothing wrong with that, it might be an issue if you’re not tracking the flow of your money, especially if you have the habit of visiting the cinemas every week.
A newly released movie cost about RM20 per ticket. If you need some snacks to munch on while having your eyes glued to the big screen, a set of popcorn and a carbonated drink come at the price of roughly RM18.
That means a total of RM38 for just a movie session.
- Smoking
Smoking and vaping not only contribute to health issues but also financial issues. The price for a pack of cigarettes is more expensive than ever, and if you’re an avid vaper, you need to frequently replace the pods and refill the e-juice.
Have you ever thought about saying goodbye to the habit and saving money? Imagine what you could’ve bought with the money spent on the “cancer stick“.
- Online delivery to the rescue!
Lazy, or not in the mood to cook? Or can’t drag yourself out to buy some meals? Not all heroes wear capes. We’re now pampered with the options of takeaway food at our fingertips.
Simply select what you crave and the capeless heroes will deliver it to your doorstep. Of course, they don’t come for free as delivery charges are applicable. The charges can be expensive especially if you’re far from the place and that happens to be your only option.
With the reliance on online delivery becoming a habit, it’s only a matter of time before your money runs out.
- I need to reward myself
There’s nothing wrong with rewarding yourself. After all, it’s your hard-earned money and you deserve a break. But what if you excessively reward yourself before you prioritise your savings?
This makes us wonder, have we used the excuse of “stressful work” too much that we need to reward ourselves beyond our means?
“If you have barely enough at the end of every month, you’re still going to be stressful. The same cycle continues.”
Fellow working class, how much do you manage to save on a monthly basis? What are your tips on consistent savings? If you happen to tick off some (or all of) these lists, do you think it’s time to track your spending?
Also read: M’sian Economists Say That Minimum Wage Needs To Be Around RM2.5k-RM2.9k To Afford Price Hike
