I think everyone can feel the pressure of inflation nowaday. I do not quite believe what the Malaysian government's figure about inflation rate. It is always estimated about3-3.5%.
If you earn about RM4000-RM5000 a month and you have a lot of installments to make monthly, I think you bearly can survive with this salary.
I anticipate the inflation will be creeping up in coming months or even years to come due to higher global demands on commodities. I think this is mainly due to rapid growth of Chinese and Indian economies. The theory is simple, people in China and India are becoming more wealthy, they will buy more and they demand more. Due to inadequate supply, you will be seeing the inflation rate to be rocketing in these countries soon!
OK, for us in Malaysia and Singapore, you must make full use of every dollar you have, so how do we make our money become bigger and increase our purchasing power??
Rule 1 : Never buy using credits
Never buy your daily neccesities using credit card. Credit card is the monster of all evils. It will eat away your income. Imagine how much bank is making with 18% per annum in interest from your credit card.
Rule 2: Plan before you buy
Have a list before you go for shopping. You tend to buy more if you do not think before stepping into a shopping mall. Shopping malls have all kinds of ways to make you buy if you do not plan before you go!
Rule 3: Buy when there is discount
I once come across a shirt selling for only RM25 as compared to the usual price of RM75 when there is big sale. If you buy some brandy name like ' Adidas', ' Nike', ' U2' etc, no matter you buy it in January or a few months later ( although you think it may be out of fashion later), the most important thing is do not over spend and give your hard earned money to someone else!!
Your money belongs to you, you have to think twice before you spend it!!
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