Cutting Down ‘Extra’ Cost is another way of saying becoming more concern about every penny spent. And this is the most difficult part. How do I ensure that every penny spent is recorded? From this I would not only know the details of each transaction but… I could also identify the pattern of my own outflow. Now that I know what is the main barrier, I could find the most suitable tools that can actually work with me. I’ve decided to keep track of all my daily outflows on my Blackberry (finally, I’ve decided to use it for something sensible rather than just social networking). Then, every weekend I would transfer the data to my Excel Spreedsheet on my notebook. And these data can further be interpreted in various means.

After nearly three weeks I’ve been tracking records of expenses, I figured out how to eliminate those ‘extra’ cost incurred. They are as follow:

Avoid Using Maybank-Zing Card

The service charge for auto-reload via credit card is RM 2 for every transaction. On average, my Zing Card is auto-reload three times monthly. That would cost me RM 6 monthly on average.

Avoid interest or service charges on credit cards

Try to self-limit my expenses via credit card. This will enable me to make full payment of the bill every month and hence avoid any interest or service charges incurred. Currently on average, the amount of my service charges for two credit cards is RM 50 per month.

Unsubscribe to RM 3 for cellular bill detail transactions

Eversince the local Telcos have introduced the itemised online bill, it’s time to say goodbye to regular ”mail bill”. With this, I am not only save RM 3 per month but also contribute in saving trees. ^_^

Do not use different ATM cards on different ATM machines

Did you know that if you make withdrawals from your ATM card at different ATM machines, it will costs you RM 1 per transaction? For example, a Maybank ATM card holder make withdrawals at CIMB ATM Machines. Have you ever notice it? As for me, I normally made five transaction per month on average and this would cost me RM 5 per month.

Reduce utilities consumption at home

There are several ways to reduce your utility bills at home. For example, if your home would be vacant during office hours, try increase the thermostat of your refrigerator. Turn it a couple degrees over since nobody for the next 8 hours or so would be at home to open the fridge. Another example is to charge your cellphones, ipod, or any portable devices that you frequently use while you’re in the office. There are a lot of other examples and you can just google it. If you can save RM 10 per month on your utility bills, that would have been good enough. *wink*

Unsubscribe to RM3 Caller Tunes

Don’t be foolish to pay for 45 second music that you won’t be able to hear. This is totally unnecessary. Unsubscribe immediately! This can save you RM 3 per month.

Avoid Using Touch ‘n Go card on shopping mall car park

To certain people, this is pretty convenient.  I know the feeling because I’ve been using it a lot. And RM 0.20 service charge seems a little negligible. Just celah gigi, right? However, if there are 15 transaction per month, that would cost you RM 3 and now it no longer seems like celah gigi.

Shampoo your own hair

I usually go for a haircut once a month. If you go to salon and if you’re intended to get a normal haircut, do not get trick to get your hair shampooed. They will make excuses for you to say ‘Yes’. Extra service means extra cost. But you have the right to say ‘No’. By saying ‘No’, I can save RM 15 per visit.

So, in conclusion,

• I can save RM 95 per month.
• I can save RM 1,140 per year.
• I can save RM 31,920 until I retire.

Maybe this is why I wanted to run my own company. Plus, the thought of having the flexible time to enter the office at any time also contribute to my eagerness to open up my own company. I thought, running my own business is great! But then it got me thinking, what kind of business would I run? I need to think smart and hard.

“What kind of business? What to sell? What to offer? Who would buy?” These sorts of questions have been looping in my mind for several days and couldn’t find the right one. I also didn’t know where to start. Off course there are several ways to start a business, but I wanted to chose the right path. The one that has higher chances to success without any major bumpy roads along the way. And this (choosing the path) I have to be extra cautious. I need to do a lot of research, research, and research.

Photo by Lutviah. Edited by Neomick.