Want to Save Money? Here are 4 Easy Tips


Saving can be tough in this current environment, but that doesn’t mean you should give up on building a financial back up for you and your loved ones.

While growing your savings surely takes a large effort, there are some simple ways to start on the path to financial security.


1. Get on top of your budget

There’s little chance you’ll be able to save much money if you’re not keeping good track of your cash. Therefore, it’s important to create a budget — and stick to it.

When it comes getting your budget started, kick things off by looking at your income and expenses. Once you’ve established your income —your salary and other types of money gains — figure out what you’re spending that money on. This includes fixed costs like rent and food as well as optional spends such as entertainment and non-essential shopping.


2. Cut your expenses where you can

There’s no point in just knowing where you’re spending your money – that’s only half the battle. The key is cutting spending so you can allocate more money to your savings. Although depending on your situation during the current economic environment, it may be a much harder time than usual to do this.

Some common strategies include seeking out better deals on your regular payments — things like phone bills. It could also pay off to switch to cheaper brands of clothing and food or cut down on under-utilised subscription services like Netflix.


3. What about investing?

The Raiz Philosophy is to invest small amounts regularly, even in falling markets as this can help you to ride out the downturns in the market and is one of the keys to having a healthier balance over the long run. This principle is known as Ringgit Cost Averaging.

Compounding happens when you let the returns on an investment build up so that you are earning a return on your return. Given enough time to work its magic, it provides the potential to reach a stage in your life where your money is working hard enough to provide a substantial part of your income.


4. Build an emergency fund

Building your savings should be about achieving your financial goals, but don’t forget to also prepare for when times get tough – the current coronavirus pandemic for example. This is where an emergency fund can be super helpful. Click here to learn about the 3 steps to build up your emergency fund.

Depending on your situation, you may need to build a big emergency fund or one that just needs to get you through a few weeks without a regular income.


Whatever you may need money for down the track, it makes sense to prepare for a financial back up in order to soften the unexpected bumps along the road.


Don’t have the Raiz App? 

Download it for free in the App store: 




Important Information 

The information on this website is general advice only. This means it does not consider any person’s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product. 

The information on this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information. 

Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz. 

The past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.

The advertisement has not been reviewed by the SC.