Everyone has their own personal methods or style of saving their money. This is understandable as each person’s income and expenses vary and no one is the same.

There are so many ways to save money and you can get an abundant of tips just by reading the information found in this website. Have you ever stop to think back on who taught you to save? Is it a self-learned habit? Perhaps your parents were the one to instill this habit when you were young?

My saving habit is partly self-learned through trial and error. Yep, making mistakes is sometimes necessary in order for us to learn and move on. My parents especially my mother is largely responsible for teaching me about saving money. Her teachings are by example and by recounting her own personal experiences with money. The obvious one that stands out is her account of stretching her meager earnings for daily expenses and savings.

My mom's story

Back in my mother’s younger days, when I was still in diapers, she had RM0.20 to spend on breakfast and lunch. More often that not, it meant foregoing either breakfast or lunch. She would use the money to buy a cup of coffee and a bun (Chinese Pau) for her daytime meal. Out of that 20 cents, she would have 5 cents left to be put away. Part of her earnings also went towards helping to support her younger brother through school and towards saving for a rainy day.
My own saving habit really started in secondary school where I would jot down my daily spending in a small note book. The purpose is to track where my money was going and how much I had left. To this day, I have maintained the habit of keeping track of my spending which now includes the entire family’s spending.

As you can see, my saving habit rests upon knowing where my money is going. If I can control how I use my money and how much is being spent, this prevents unnecessary spending. Most of my money goes towards necessities or needs instead of wants. Therefore, every month means having a positive cash flow to be put aside for a rainy day.

I did not even use a budget system as this method alone was good enough to ensure money never ran out at the end of each month. Looking at the big picture, controlling your spending is the easiest way to save money. Then invest the money wisely and at the end of the day when you are ready to retire, you will have something to support you.

Read other articles by Jacquelyn at WParent.com on parenting matters and Tips4Everyone.com on solving marriage problems.

    11 replies to "What are Your Saving Habits?"

    • Woon Lip Fuey

      You are right, you just brought up another problem for me – discipline
      Recently, I found out that I have a big problem of this.
      The schedule I set for myself I can’t even follow, especially when my final is near.
      I abandon everything and just pay fully attention on my final because I did retake a semester, it scared me always, I don’t want it happen again, but this is quite irrational for me to abandon the discipline right?
      No matter how, thanks for guiding Jac.

    • Jacquelyn

      Hi Woon,

      Money management takes a lot of discipline and planning. Everybody must do it to ensure a financially secure future. Making mistakes are common and you are not alone in this respect. A person has to learn from past mistakes and continue to focus on his financial goals. It is a challenging journey for most people.

    • Woon Lip Fuey

      I had a good habit of saving when I studied at secondary school,
      I save a lot of money but however, something happen in my life that cause me hate saving anymore, make me feel that saving is meanless, no matter how much I save, It lost at all without expectingly, why we want to tide up our spending? Maybe I had used a wrong way to save money, in the end the money flow away. I just feel like I didn’t own it, make me disappointed.
      For this moment, I kinda find that the important of money management, I don’t call it saving because I think saving is only a very small part in money management, my opinion is we should manage our money(income or wang belanja) to some part.
      Such as…
      20% for saving
      20% for investing
      10% for reserve
      50% self spending
      But I think this is quite impossible for me to implement it, just… at least done 20% saving, get back the habit of saving..
      Any mis-define please correct and guide me…thank you…

    • Bankers Exchange Services

      November 1031 Exchange Carnival…

      Welcome to the November 18, 2009 edition of 1031 exchange.

      KCLau presents What are Your Saving Habits? posted at KCLau’s Money Tips, saying, “Everyone has their own personal methods or style of saving their money. What is yours?”…

    • Financial Samurai

      In the finance industry, there is a mantra of SPENDING all your salary but saving your entire year end bonus.

      Since people’s year end bonus generally accounts for 20-80% of their entire full year salary, it’s a pretty good idea.

      Darn, I miss Malaysia!

    • […] presents What are Your Saving Habits? posted at KCLau’s Money Tips. Blogger Jacquelyn describes how the humble notebook can […]

    • Daniel Chew

      I believe in paying myself first. Its easier to manage my money with what I have left after I invested the rest.

    • RockYourVote.net

      Good Saving Habits…

      Everyone has his or her own way of saving money. What is yours?…

    • victoria

      I think the title “What is your savings habits” should be :
      “What ARE your savings habits”.

      Just a note.

      • KCLau

        Thanks for your constructive feedback

    • mtsen

      ya, I support this idea, make it into an ASS – Automated Saving System is even better …

Comments are closed.