Let us reiterate the importance of being frugal. It plays a significant part in helping you cope in extreme times, but it doesn’t mean you should deprive yourself of the good things in life. It’s about being more creative with your spending. To quote Amy Dacyczyn, “Frugality without creativity is deprivation!” Transportation We no longer use our legs as much as our ancestors as there are various modes of transportation today. So much so, most of us can’t live without a car! A car may be necessary but with the rising cost of petrol, we may have to look for alternatives. Suggestions: • Get rid of your car and get a bicycle! Too extreme? Perhaps, but we need to overcome your reliance on a car. For instance, if you want to get a newspaper or buy food from a stall down the road, try cycling.
• Use public transport. We may not have a world-class public transportation system, but it’s still the cheapest alternative. If you live in the Klang Valley, you can get around the city from as little as RM1. If you were to use the bus and the Light Rail Transit, the most you will pay is RM7 a day. • Drive efficiently. You can find smart driving tips on the Internet. For example, accelerating quickly and speeding consumes more fuel. How and when you fill up your tank also makes a difference.
• Try not to use your car at least once a week. You will not only save money, but also do your part for the environment. Utilities Our country is blessed with natural resources, but that doesn’t mean that we should be wasteful. We should inculcate the habit of conserving energy and preserving our resources for future generations. We can do this by: • Turning off all lights, fans and air-conditioners when you leave a room. • Converting your lights and electrical appliances to energy-saving types. For example, instead of using an electric kettle, it may be better to use a conventional one. • Using rainwater to wash your car and water the plants. Also try to bathe using one pail of water and brush your teeth with one cup of water. Challenge your family members to see who uses the least amount of water.
• Limiting your phone usage. It might be a good idea to switch to a package that offers unlimited calls. If you’re using a mobile, either go for prepaid or have your service provider restrict your outgoing calls if it exceeds a certain limit.
• Sharing your Internet/broadband usage, say, with your neighbour and splitting the cost. You can also do the same for your newspaper subscription. This will not only help you save money, but also promote good neighbourliness. Entertainment/lifestyle It’s possible to get good wholesome entertainment for free or almost free if you’re resourceful and creative. Just because times are bad doesn’t mean you can’t have fun. No matter what your income, make time to relax and do activities that you like. Without fun, it’s hard to lead a healthy life. Suggestions: • Give up your fitness club membership if you’re not using it regularly. Instead, take a stroll in the park, hike or bike and enjoy the fresh air.
• Borrow books or attend seminars or programmes for free at the public library. You can also attend free book readings at your local bookstore. • Check out free concerts, children’s programmes and family activities in newspapers or through tourist information centres or websites.
• If you drink or smoke, now is a good time to fulfil your New Year’s resolutions. Cut down on your consumption and eventually kick that habit. You’ll be surprised how much money you’ll save. • Want to catch the latest movie? Borrow or rent it from friends or your local video store. You can enjoy it with your family and friends in the comfort of your living room.
As we have said before, extreme times call for extreme measures, and what better time than now to re-examine our spending. Refocus our priorities and remind ourselves that we’re merely stewards of all the resources that we have been entrusted with. Use them responsibly for the benefit of generations to come.
AKPK is an agency set up by Bank Negara Malaysia to provide free services of financial education, counselling and debt management programme. Call 1 800 88 2575, or visit www.akpk.org.my or www.speaksens.com.my. Get Money Sense and Celik Wang books and keep a lookout for the Mandarin version at all of its 11 offices nationwide.
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