Everyone has their own goals and aspirations. Some prefer to take it easy first and then work hard, while others choose to boldly challenge themselves and save more money while they're young.
A 21-year-old Malaysian man shared his story on "Dcard MY," revealing that he has managed to save RM500,000 and even bought a house at a young age. However, he attributes his financial success to hard work and frugality, expressing his confusion over his peers' spending habits.
The original poster (OP) noticed that his classmates would exhaust their parents' allowances, as seen from their Instagram Stories filled with indulgences such as hot pot dinners, barbecue parties, visits to cafes, buying iPhones, and attending concerts.
In contrast, the OP maintains a frugal lifestyle. He has not replaced his phone in six years, avoids purchasing electronic gadgets, cooks his own meals or eats economy rice, rarely uses air conditioning throughout the year, and refrains from travelling. He even turns down invitations from friends to indulge in activities like barbecue and karaoke.
Having previously worked in e-commerce selling health electronic products, the OP has focused on studying and investing diligently, accumulating savings exceeding RM500,000 and acquiring a house.
He shared his money-saving tips, revealing that he allocates over 90% of his income to investments such as ASM (unit trust), FD (fixed deposit), and EPF (Employees Provident Fund). He has minimal material desires and has never spent money on luxuries like Starbucks or Hotpot.
The OP expressed reluctance to spend his hard-earned money, believing that having savings provides a sense of security. He values only things that appreciates and his health, showing no interest in depreciating assets like cars.
Apart from housing loans and tuition fees, the OP's monthly expenses, including transportation and living costs, generally do not exceed RM600. He finds it perplexing to see peers spending their parents' money without a second thought.
This post sparked discussions among netizens, with opinions ranging from being moderate in spending to allowing oneself to spend part-time earnings, especially if it's hard-earned money.
In response to inquiries, the OP explained that he manages to keep his expenses low by not owning a car, using affordable public transportation, and maintaining a disciplined approach to spending.
For those struggling to save money, the OP recommends high income, maintaining a consistent lifestyle, and diligently tracking expenses to reduce unnecessary spending. The key, he suggests, is to have strong willpower.
