We have received a very interesting email from our reader, Voon who plans his spending based on his current income. Voon kindly shares his strategy in surviving daily life with the rising cost of living. We would recommend reading his systematic way of spending money.

Voon & His Ang Pow

I’m 23 years old and I had learned a lot and benefits from the Money Tips e-book. Financial skill is very crucial to us as we’re using money throughout our lives, disregarding personal finance will get us into trouble big time.

Just sharing one of my way of effective saving monthly salary without overspending and getting into debt. For example, my salary is RM 2,000.00 , I prepare myself  with several packets of ang pow with different labels.

Then, I divide my RM 2,000.00 into several categories and put certain amount of money into these ang pows accordingly. I have calculated and separated the money into categories as per info graphic below:

Voon & Ang Pows

Whenever I receive my salary, immediately I will divide my money into these categories. With this method, I know how much budget I have for my daily usage. When there is a friend gathering, I will use my Occasion money.

Buying books from popular? I got RM 200.00 budget.

Buy a life insurance? I only can afford RM 200.00.

My mouse and keyboard is broken, I will need to buy it with my RM 100.00 budget.
Lastly, the saving part I can buy an endowment or consider putting it into fixed deposit.

How Would You Do It?

Of course there is no one way or one budget to fit all. Please share your insights of what Voon has practiced and you are encouraged  to share your thoughts in the comments.

    2 replies to "How Can You Live With RM2,000 of Salary Without Getting Into Debt?"

    • […] ???????????????????????????????????????????10% ?????????????????????10%? ???? ??????????60% ?40% ? 60% ????????????? […]

    • Pokemon

      How do i manage My Salary with Rm 1500 per month?

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