Here's One Of THE QUICK­EST WAYS To Clear Your Debt

New Straits Times - - Klassifieds -

As­sum­ing that you are cur­rently earn­ing a salary of RM2,200, it means you are spend­ing al­most all of your in­come with only RM200 left for in­ci­den­tals. Once you have iden­ti­fied your spend­ing cat­e­gories, the elim­i­na­tion bud­get re­quires you to re­move one of these cat­e­gories, start­ing with the least im­por­tant one.

Based on this bud­get you can start by re­mov­ing the cafes and snacks cat­e­gory. This means you have to stop spend­ing on any­thing re­lated to cafes and snacks, so you can save about RM100 a month.

Once you have suc­cess­ful elim­i­nated this cat­e­gory, you should go through your bud­get again to iden­tify the next cat­e­gory to elim­i­nate. Give it a few months to get used to re­mov­ing one cat­e­gory be­fore you start on the next one.

If you de­cide to re­move the en­ter­tain­ment cat­e­gory next, you will have to re­frain from spend­ing on movie tick­ets, mu­sic sub­scrip­tion, books and other forms of en­ter­tain­ment.

Keep re­mov­ing cat­e­gories un­til your spend­ing be­comes less than your in­come.

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