Want to make RM50K?
This is not a get rich quick scheme."Cost cutting by increments works better than slashing categories of spending," writes financial author Ellen Rosemen.
Consider how these minor adjustments in a couple's spending add up.
Skip one triple grande latte a week. Annual savings = RM350
Subscribe to your favourite magazines instead of buying them at the newstand. You'll often save 50 per cent or more. Annual savings = RM150
Instead of buying the latest best seller, get it from the library. Annual savings = RM120
Cut out 3 movie visits a year. Annual savings = RM60
Take one less shirt a week to the cleaners for laundering. Annual savings = RM70
Eat fast food 2 times less a month. Annual savings = RM70
Now, take that savings ( about RM950 a year) and invest it. Let's say you do it year after year and get interest rate of 5% : In 25 years you'd have almost RM50K. Not a bad return on an investment of a few spending tweaks.
