- 2 days ago
Many young people today, especially those with families, feel their salary disappears the moment it comes in. Between bills, loans, groceries, and family needs, it’s no surprise that cashflow feels tighter than ever.
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MusicTranscript
00:00This is Gaji Day.
00:01Your quality of life is up here.
00:02And it's going to go sound throughout the month.
00:04That's so lonely throughout the day.
00:05It's going to get cheaper.
00:08I'm not saying, you know, you guys should get an increment
00:10and then save every single dollar of the increment.
00:13I think it's not realistic.
00:14At least you've not gotten to the stage of having to draw from your savings.
00:18Worse is credit card.
00:20And then this is for next month's salary to pay.
00:22I give X amount to my parents, X amount to my grandparents,
00:25and X amount to my siblings.
00:26So that's why I have no money anymore.
00:28Very good.
00:28You're such a kind-hearted person.
00:30I wish I was your sibling.
00:31But if you're struggling, you just have to cut it.
00:38What's up, guys?
00:39Welcome back to The Money Goal.
00:40My name is Ymir, and I have Aisha with me today.
00:43Aisha, how are we doing?
00:44Hello, I'm back.
00:45I'm good.
00:46How are you?
00:46Good.
00:47Okay, so while we're recording this,
00:50Gaji is coming soon, right?
00:52Next week, Monday.
00:54Oh, for you guys.
00:55Yeah, Monday, next Monday.
00:56Gaji, I know.
00:56So sad, okay.
00:57Oh, no.
00:57Okay.
00:58So I was thinking, suddenly, like, wow.
01:02Like, gaji is coming soon.
01:03I'm okay with my gaji.
01:05Like, I put my savings.
01:06I pay my bills all.
01:08Semua on time.
01:10But I've never put a budget on my daily spending.
01:15Like, okay, food or, you know, anything I need.
01:19My toiletries.
01:20There's never a budget.
01:21And I've, so far, luckily, I've never, like, had an issue of running out of money before the next gaji.
01:30Okay.
01:30Okay.
01:31But, with that said, should I be more, you know, organized or, you know, should I plan more with my money?
01:39Because the first day when you dapat gaji, when I dapat gaji, right?
01:44I would go to a mall, suddenly.
01:47Go ham.
01:47The day, I'm going to go to a mall.
01:51Buy a nice dinner.
01:53Maybe shopping a little bit.
01:54Yeah.
01:55You know, watch a movie this weekend.
01:57Because the gaji just came in.
01:58Because the gaji just came in, right?
01:59So, you'll just find that this is gaji day.
02:02Your quality of life is up here.
02:03Yes.
02:03And it just goes down throughout the month.
02:04And then, so, only throughout the day.
02:06Your meal gets cheaper.
02:07It gets cheaper.
02:09By the end, I'm a quality chandler.
02:11Just wait.
02:12For the next gaji, then you'll back up again.
02:13Yeah.
02:14And then you get one more time of a nice meal.
02:16So, it's like, I've never put a budget on food or my toiletries or anything.
02:19So, I'm just wondering if there's a way, like, if I can, night can skip my savings a month.
02:26Because I've been saving the same amount for the past, I don't know, three, four years.
02:30Okay.
02:30I've never night can.
02:32Yes.
02:33My salary has been going up.
02:34And you're sitting here.
02:35Okay.
02:36This is medical lifestyle inflation, guys.
02:38If you guys don't know the definition, this is it.
02:40Your income goes up.
02:41And then your savings just stays the same.
02:43So, it means that your spending is going up, right?
02:46It looks like it.
02:47It has to be, right?
02:47It looks like it.
02:48Yeah.
02:49So, I think it can be improved.
02:52Okay.
02:52I think, first of all, just addressing the savings not going up.
02:56Even though your salary is going up.
02:57I think, how do you decide how much money to save every month?
03:01You save before you spend, right?
03:03Yes.
03:04So, as soon as I get my salary, all my bills are being paid.
03:07And then I transfer whatever I needed to transfer.
03:10The only thing I budget for is for my car.
03:13So, it's a loan.
03:14Yeah, it's a loan.
03:15And also the petrol and touch and go, whatever, that I need for that month.
03:20Like parking or I plan ahead.
03:22And I put aside like $500.
03:24The petrol slumps out.
03:25Okay, okay.
03:25That's good.
03:26Okay, but how do you decide how much that you should save though?
03:29So, this was decided three, four years ago.
03:30Yes, it's always been the same.
03:32So, creator also have never changed.
03:34So, I will always put aside like $500 for my car.
03:37For like petrol, insurance, so much.
03:40But that's enough lah.
03:41It's enough so far.
03:42Yeah.
03:42Your car is fine though.
03:43But I guess your savings.
03:45Savings lah.
03:45It was just a number that you decided, okay lah.
03:47This is it lah.
03:47Yeah.
03:48Like $500.
03:48Like good enough lah.
03:50For the past five years.
03:52Okay, okay, okay.
03:53I think, I mean, you are already doing well, right?
03:56In the sense that you are saving first and everything.
03:58But of course, you want to save more lah.
03:59As your income goes up.
04:00Okay, this is what we don't want to get into.
04:02Lifestyle inflation.
04:03I think a lot of people fall into this.
04:05Myself included.
04:06Where you earn more, you spend more.
04:08You earn more, you spend more.
04:09I think it doesn't make sense when, you know, you're earning $4,000 a month.
04:13You're saving $500.
04:14And then suddenly you earn $10,000 a month.
04:15And you're still saving $500.
04:16I think it doesn't make sense, right?
04:17You got to save more.
04:19So, the secret to doing that is instead of establishing an arbitrary number to save every month.
04:27Whether it's $200, $300, whatever it is.
04:29Decide on the percentage that you want to save.
04:30Okay.
04:31Right, so maybe not your gross salary lah.
04:33So maybe let's say percentage of your net salary you take home after EPF and tax.
04:36Right?
04:37So let's say you think you're comfortable with 10%.
04:40Let's say lah.
04:41Okay?
04:42So you're earning $4,000.
04:43You'll save $400.
04:45Right?
04:45The good thing about using a percentage is when your salary goes up, your savings goes
04:50up.
04:50Your savings goes up, right?
04:51Because you're using a percentage.
04:52You have to save more.
04:52Yeah.
04:52So when you earn $5,000, 10% is now $500.
04:55So I can't use that money.
04:56You can't.
04:56You can.
04:57You earn an extra $1,000.
04:59You're only saving 10% of that.
05:00An extra $100.
05:02It's just that you're making sure that your savings is also going up as your salary goes
05:06up.
05:07But it feels like I'm putting aside more money.
05:11You are putting aside more money.
05:12It doesn't just feel like that.
05:13It's real.
05:13But you still get to enjoy your extra cash lah.
05:17You know?
05:17It's not like...
05:18I'm not saying, you know, you guys should get an increment and then save every single
05:22dollar of the increment.
05:23I think it's not realistic lah.
05:24As we earn more, we should improve our quality of life.
05:27I think it makes sense.
05:27Right?
05:28Order more delivery or whatever it is.
05:30If you can afford it, right?
05:31Go for it.
05:31But just need to save more.
05:32Yeah.
05:32So I think that's the first thing you probably need to do.
05:34Just to make sure, you know, save a percentage of it.
05:36And then about being more organized, I guess you don't want to, you know, first day dapat
05:43gaji, you eat fine dining or steak and then last week before fine dining, you have to
05:48eat nasi bujang or something.
05:50Oh no, that's so sad.
05:52Yeah.
05:53So I think this is going to be a bit more organized.
05:55So you see right now, you only split it into like, let's say just petrol.
05:59Just transport, right?
05:59Just transport.
06:00Transport.
06:00That's an obligation.
06:01Nothing else.
06:02Yeah.
06:02Transport savings.
06:04Yeah.
06:05Okay.
06:05So I guess, now do you track your expenses?
06:07Do you know?
06:08I don't.
06:09Okay.
06:09Okay.
06:09I guess you could if you wanted to.
06:11As long as my card doesn't decline and I feel like I'm a green.
06:15Not credit card.
06:16My debit card lah.
06:17Okay.
06:17Okay.
06:18But debit card getting declined is very bad though.
06:20Tiba-tiba no money.
06:22Oh, no more cash.
06:23Yeah, yeah, yeah.
06:24So I guess something that you could try, at least like for now lah, it's a bit tedious
06:30but some people do it, they will split their budget into different categories.
06:33So some people have seen, I say I've seen because I don't do it myself, but I have seen
06:37people do it, they're very disciplined with their spending.
06:40So they will say, okay, every month, a thousand ringgit goes to the food budget, 500 ringgit
06:46goes to transportation, like you said, right?
06:48500 ringgit goes to entertainment, whatever I want to do, sports, whatever it is, and then
06:52X amount goes to savings.
06:53So they split it in that way, so that at least when you eat your fine dining meal, and you
06:59set a budget of a thousand, if you're taking out 200, you're like, oh my god, that's 20%
07:03of my monthly food budget on just one meal.
07:05Yeah.
07:06Right?
07:06Yeah.
07:06So that is one way that people do these kind of things lah, just to be a bit more, like
07:10you said, organised, to make sure that you don't overspend on any particular category.
07:15At least you've not gotten to the stage of having to draw from your savings to pay expenses,
07:20or worse is credit card, and then this is for next month's salary to pay.
07:25Yeah.
07:25At least you're not getting debit, but you just want to make sure that you don't get to
07:28that stage lah.
07:29Okay, but what if, because I've seen a lot on social media kan, people when they get
07:35their gaji, sometimes it lasts only like 15 minutes, or like two weeks, and then suddenly...
07:39Yeah, sure, sure, no way 15 minutes.
07:41If you go on social, there's a few lah, yeah.
07:45Okay, okay.
07:45As this one tweet I saw, she wrote that her gaji usually only lasts her two weeks, and
07:56then for the next two weeks until her next gaji, she'll be struggling.
08:00So for these people, right, like I mean, yeah, your gaji, you have to pay all your bills, that's
08:06what they did, and then they don't have any more left for the...
08:11Yeah.
08:11Yeah.
08:12So for this situation, what do you think, you know, what advice or tips or whatever could
08:18help?
08:19Because for me, right, okay, even though I don't plan, sometimes, you know, at the end,
08:24because I spend too much early in the month, and then at the end of the month, I can still
08:29eat whatever I want, just not as lavish as like awal-awal bulan.
08:34But these people kan, two weeks dah habis.
08:37And then they're really...
08:38And then they're really like stuck.
08:39They can't even, maybe probably, can't even afford nasi bujang.
08:42Yeah.
08:43And these are the people that would have no savings, because after two weeks, I have
08:47to draw for my savings.
08:47Correct, yeah.
08:49Or worse, like I said, they get to that lah.
08:51Because takkan I don't eat for two weeks, right, I have to eat something, right?
08:54Yeah.
08:55So, there's...
08:57Whenever it comes to cash flow issues, there's always only two solutions.
09:00One is you increase your income, one is you cut your cost.
09:02Okay, so I say that because I don't want to say that everybody needs to just cut their
09:07cost.
09:07Because if your salary is 1,005, what's the minimum salary now?
09:11I think like 1,007 or 1,008, right?
09:13If that is your salary, honestly, it's very hard to tell you you need to cut down more
09:17costs.
09:18Because 1,007 is already extremely low, right?
09:23So, in this salary, you really have to look at ways to up your income lah.
09:25Either by finding another job, or, you know, starting something on the side.
09:28But I know that most people who have this issue, they don't really have an income problem.
09:34Maybe their income is not the highest, right?
09:36Obviously, we all want 20,000, 30,000 a month, but they're on maybe 5,000.
09:40And they still feel stuck.
09:41So, this is when you need to review your costs lah.
09:43I think one thing is a lot of people get stuck because of loan payments.
09:46They have to pay too much in loan payments.
09:48And that one, honestly, you have no choice.
09:49Because loans, you really cannot do anything about it.
09:52You can restructure your loans, go to AKPK.
09:54That's a whole other thing lah, right?
09:55But loans, you have to pay off.
09:56So, that one, again, you are paying for mistakes that you made in the past.
10:00All you can do now is really just struggle through it.
10:03And then, make sure that you don't do it again lah.
10:05Okay.
10:06That's one thing.
10:07But I've also seen people where they really have areas to cut.
10:13Where they look at, you know, they list out all the expenses because they want people to help.
10:17And then, it's like, telco bill, 300 a month.
10:20I'm like, what are you doing, right?
10:21300 a month on your telco bill.
10:22Or they have, like, okay, this one, I guess, a bit controversial, a bit debatable.
10:28But I've seen very recently on Reddit, someone was like, oh, I give X amount to my parents,
10:33X amount to my grandparents, and X amount to my siblings.
10:35So, that's why I have no money anymore.
10:38Honestly.
10:38And the person even said, the siblings don't need the money.
10:43The siblings didn't ask for the money.
10:45But because they feel the responsibility as an older sibling to provide.
10:49Again, very good.
10:51You're such a kind-hearted person.
10:52I wish I was your sibling.
10:54But if you're struggling, you just have to cut it.
10:56You just have to cut when you can.
10:58Focus on yourself first.
10:59Put yourself first.
11:00Exactly.
11:00Exactly.
11:01How are you going to help your...
11:02I mean, maybe your siblings are doing fine, right?
11:04Maybe they're just, like, taking your money and buying an iPhone,
11:06and then you have to eat nasi bujang for two weeks, right?
11:08And that's why you have to track your expenses.
11:10Otherwise, you won't know where you're overspending.
11:13But I think looking at it, a lot of people actually do have areas to cut.
11:17Do you suggest people, if you want to shop, shopping,
11:21do you suggest people save first for the money that you want to use for shopping?
11:26Or you can just go...
11:28I think this one really depends on your income.
11:30Really?
11:30Okay, if you're not on a high income, then you have to save first.
11:32It's a big purchase, right?
11:34Like, travelling, save first.
11:35Exactly.
11:36Yeah, you have to.
11:36If your food budget a month is RM500 only,
11:40then obviously you have to save first.
11:41But if, let's say, you're on RM20,000 salary,
11:44your food budget a month is RM2,000.
11:46Let's say, because you're earning a lot,
11:48you put RM2,000 a month for food.
11:49That's crazy.
11:50Then you can just...
11:50I mean, if you want to buy something, just buy it.
11:52Your food budget, you can reduce it from RM2,000 to RM1,000.
11:55And you'll...
11:55Okay.
11:56So it really depends on your income.
11:58Okay.
11:58Yeah.
11:59Okay.
12:00So I feel like you've answered everything that I want to ask.
12:04So we have questions from...
12:06Other people.
12:07Yes, other people.
12:08That's interesting.
12:09Okay.
12:10Hopefully they're a bit more irresponsible than you,
12:12so that we have more entertainment.
12:14Oh, the first one is just like me.
12:16Okay.
12:16Okay.
12:17Every payday, I'd rush to a mall with my friends.
12:20We'd eat Korean barbecue, buy new sneakers, and order coffee like crazy.
12:25By the second week, my meals were back to Maggi Goreng at the Mama.
12:29Sometimes just plain roti chanai for dinner.
12:32Yeah.
12:32I feel you sometimes.
12:34Yeah.
12:34I realised I was living two lives.
12:36Rich for seven days and broke for the rest of the 23.
12:38The question is, what's one habit you can use to make your gaji last the whole month
12:45instead of just the first week?
12:47Yeah.
12:47Honestly, I mean, if this is the life you want, then go for it, right?
12:51I mean, maybe some people just really want to.
12:53I mean, whether it's healthy or not, whether it's good or not, I guess that's a secondary
12:55thing.
12:56But okay, to be a bit more serious, right?
12:58Yeah.
12:58Like I said, you need to set your, let's say, food budget.
13:01In this context, it's food.
13:03You're talking about food, right?
13:03So, allocate your food budget every month.
13:08Let's say it is RM900.
13:10So, if you do RM900, divide by 30 days, that's RM30 a day.
13:14Okay, that's not bad.
13:14And then you split it into, let's say, lunch, dinner, 15 each, right?
13:18So, you do it that way.
13:20You think about it.
13:20Okay, I have RM30 a day.
13:21I have RM30 a day.
13:22Of course, you cannot follow it exactly lah.
13:24Some days, maybe you spend less.
13:25Some days, you spend more, right?
13:27Maybe some days, 40.
13:28Some days, 20.
13:28Okay, it balances itself out.
13:31But if your food budget is RM30 a day,
13:33and then you're going KBQ and you're buying coffee
13:35and the bill is RM200,
13:37at least you will know that,
13:39oh no, my budget is RM30 a day.
13:42Today, I spent RM300.
13:43That's 10 times over.
13:44But at least, you know,
13:45at least there's that realisation that you know, right?
13:47Whereas I feel a lot of people,
13:48maybe including this viewer,
13:50they don't have a food budget set.
13:52So, they don't know how much they should be
13:54technically spending a day.
13:55So, they just spend lah.
13:56Just spend lah.
13:57And then I see how it goes.
13:58Yeah, so I think that is the way for you
14:00to make sure it lasts longer.
14:01Just be more aware of what you should be spending.
14:03You don't have to follow it every day,
14:05but at least you're aware when you overspend.
14:07Okay, we have another one.
14:09Another story.
14:10This is about shopping.
14:11Okay.
14:12The 11-11 payday.
14:14Oh, looking forward.
14:15Oh, sorry.
14:16It's supposed to be the...
14:18Okay, so my salary came on the 10th of November.
14:21Oh, okay, very late.
14:23Okay.
14:23On 11-11, sales hit.
14:27For five years to get a salary.
14:28I filled my cart, air fryer, headphones, skin care,
14:31even things I didn't need.
14:32By the end of the night,
14:33RM2,000 gone.
14:35Half of those items are still in boxes.
14:37When December came,
14:38I couldn't even pay my car installment on time.
14:41How can you stop yourself for impulse spending
14:43during sales and keep your finances in check?
14:47That's tough because then you can't afford 12-12 sales.
14:50Okay, first of all, how do you...
14:52What's your way of, you know,
14:54spending money for shopping, for leisure?
14:57Like...
14:58Like, you nak beli your golf cart...
15:00Yeah, okay, okay, okay.
15:01And then pergi main golf, semua...
15:03I think I've said this in an episode before.
15:07But things that you can add to a cart,
15:09I think perfect.
15:09Add it to a cart, just leave it.
15:10Guys, really, 11-11 sounds good,
15:12but 12-12 sounds good as well.
15:14Then there are double digits here.
15:15It's closing every month.
15:16Exactly, it's every month.
15:17It's every month.
15:18It's not like a...
15:20It's not even a once-a-year thing anymore.
15:21Last time, I think,
15:22it used to be like year-end sale,
15:23Boxing Day sale.
15:24That's why it's also really rushed, right?
15:25Like Fridays.
15:26Yeah, yeah, yeah, yeah.
15:27Okay, last time that worked that much.
15:28So, just leave it in your cart
15:30and think about it, right?
15:32Think about it,
15:32whether you really want it or not,
15:33whether you can really afford it or not.
15:35If you put it...
15:36Some people will feel like,
15:37ah, what if I don't buy it now?
15:39And then next week...
15:40Mahal.
15:40Yeah, it becomes more expensive, right?
15:42Just wait for 12-12.
15:43There'll be another voucher.
15:44I promise you there'll be another voucher.
15:45Give it a few days.
15:47Exactly.
15:47Think about it.
15:48Think about it, yeah.
15:49But having said that,
15:50essentials, I buy on
15:51double-digit day sales.
15:53Oh, really?
15:54You save so much money.
15:55Okay, essentials,
15:56I'm talking about things like...
15:57Upadjiji, shampoo,
15:58sabo, and all that.
15:59Or just, I buy a lot when I need to.
16:01Oh, really?
16:01So, if I'm running out of salt,
16:03when I'm running out of salt,
16:03I'll just buy like...
16:04If it's a really good sale on 11-11,
16:06I'll just buy like five.
16:07Like your skincare all lah.
16:09Oh, you don't use skincare.
16:11Senang kan jadi, guys?
16:13I mean, water is my skincare.
16:14It's so easy.
16:16Yeah, essentials, I will buy.
16:18Double-digit day.
16:19Right.
16:19It's just so...
16:20I mean, you know you're gonna buy it anyway.
16:23Parents,
16:23I have colleagues who are parents,
16:24diapers.
16:25They say this is math.
16:26No idea how much diapers are.
16:27Formulas, diapers,
16:28upad, or whatever, right?
16:29You can't relate lah.
16:30Yep, yep.
16:31But according to them,
16:32they save a lot of money.
16:33I think it's smart.
16:34Right?
16:34It's smart to take advantage of these sales
16:36for things that are
16:38a need lah.
16:39Essential.
16:39Don't lie to you guys.
16:40Don't lie to yourself.
16:41iPhone is not a need.
16:43Don't rush.
16:43Think about it.
16:44Put it in your card.
16:45These days, there's so many sales.
16:46I think they are just
16:47cannibalizing themselves.
16:48Which is good for us.
16:49It's good for us.
16:50Yeah.
16:50For like me,
16:51I would always save
16:52for whatever I want.
16:54Okay.
16:55So...
16:55So you don't get FOMO?
16:56I don't really.
16:57Because the things I want
16:59kadang-kadang pun
16:59is not the same
17:00as what my friends want.
17:02Example,
17:02I want something
17:02that is RM300, right?
17:04I give it like
17:05three months
17:06to simpan first.
17:07Wow, okay.
17:08Like a hundred a month.
17:09And then?
17:10And then I decide
17:12if I want to buy it.
17:13But...
17:14Sometimes, kan?
17:15Bila dah sampai
17:16that three months
17:16and I already have the money
17:17sometimes I'm not.
17:19Perfect.
17:20I have that three.
17:21Keep a book.
17:21Keep a book.
17:24Keep a book.
17:24That's right.
17:25I think that's what's
17:26what a lot of people...
17:27The thing is
17:28if you're not saving more,
17:29it means that you are
17:30spending more for sure
17:31when your income goes up.
17:32Correct.
17:32Yeah, yeah, yeah.
17:33And if you spend more...
17:34Cannot deny that.
17:35It means that
17:36when you retire,
17:37you'll need more money.
17:38Betul.
17:38That means your retirement funds
17:40are not going up
17:41as much as it should be.
17:42So that's why
17:43you are living comfortably now
17:44but I care for the future
17:45or future planning
17:46can be improved.
17:47Which is where
17:48the percentage thing comes in.
17:49So that is what
17:50you'll be working on, right?
17:51Okay, yep.
17:52Sure.
17:52See you next week.
17:54Okay.
17:54Next week.
17:56Alright, I hope you guys
17:57enjoyed this episode
17:58with me and Aisha today.
17:59We'll see you guys
18:00in the next one.
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