- 3 months ago
Convenience makes life so much easier, kan? From food delivery to valet parking and even calling a cleaner to our house — all to save time… but at what cost?
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00:00I've seen people who grab bills like they say it's a thousand five hundred per month because
00:04it's so easy yeah yeah yeah no it's crazy in a month she spent a thousand um pounds
00:12pounds oh my god but I mean if that's the only thing she spends on like that's the only
00:17no that's not the only thing okay yeah that's a bad thing it doesn't matter it doesn't matter
00:22what you want to spend your convenience money on as long as you keep it within your limits yeah
00:26yeah I think the problem comes when the convenience spending comes at the expense of your saving and
00:31investment then of course you will feel guilty yeah what's up guys welcome back to another episode
00:40of the money goal my name is Ymir and I have Yasmin with me again hello Yasmin hello hello what are
00:46we talking about this time okay so we're talking about convenience oh I love convenience right and
00:50we're not talking about like convenience store we're talking about like time convenience I love
00:55convenience so when I talk about convenience I'm talking about like um at the expense of money
01:02yeah okay so that's you know uh grabbing food or like uh valley parking sort of going into the car park
01:12or um what else um taking the road thrift toll uh yeah yeah yeah yeah taking roads paying someone to uh
01:24do things for you basically yeah anything you know like in JPJ like you have to get like let's say
01:29get a number plate or something okay I need to get international driving license soon
01:33so you can go to JPJ or you can or you can pay a runner they call it a runner who goes to JPJ for you
01:38convenience convenience convenience so expense of money what what are your thoughts on it
01:43I do a lot so what can I say um okay I think a lot of people spend too much on convenience
01:51I've seen people who grab bills like they say it's a thousand five hundred per month because it's so
01:56easy yeah yeah yeah no it's crazy okay because grab is I mean food delivery obviously is going to be
02:03more expensive than going to a shop right um but my overall thoughts about convenience is
02:08number one it is the best way for me at least to spend money I think it makes more sense this again
02:15this is my personal thing I would rather spend money to for convenience than spending money on
02:19material items that I'm going to throw away soon right but I think a lot of people overdo it so a
02:27lot of people have too much convenience everywhere in every aspect of their life that they can't afford
02:31it and that's when it becomes bad yeah right I think convenience in certain aspects of your life is
02:37fine as long as you can afford it as long as you limit it right I mean at the end of the day
02:42what's the point of money if it's not going to make our lives better obviously you don't want to be
02:46broke as well yeah so find that balance yeah um I had a friend um who I I can't I really can't say
02:53who what but um yeah she's just a friend and um we actually calculated um how much money she was
03:02spending on um uh e-healing services okay so like um cabs um and we calculate we calculated in
03:13um in a month she spent a thousand um pounds pounds oh my god sterling so this is not yeah this is not
03:23a year in malaysia so it was not even a thousand ringgit it was a thousand pounds
03:27and and it was purely because it was like a convenience thing um you know going to the shops
03:35or going to uni or going to town or um going to run errands um because the city where my university
03:43was it's really really hilly okay and um but you know despite it being really really hilly our
03:49university we had our campus but like access to the city was really really easy um it just took
03:56some walking because it's hilly but yeah she racked up a huge thousand pounds that's crazy yeah yeah but
04:06and this is not even a major city oh it wasn't london no it wasn't even oh my god that's crazy um
04:12yeah it was I remember we were we were using bolt um because at the time because bolt is european so it
04:18um it reached the uk a lot a lot quicker than because I think bolt just started here in mulia
04:24um but yeah we were using bolt at the time so it's not even uber it's not even grab right yeah it was
04:31bolt a thousand pounds that's crazy I was impressed but I mean if that's the only thing she spends on
04:37like that's the only no that's not the only thing okay yeah that's a bad thing that was one of the
04:41things I think okay when I said that you can use money to buy convenience once in a while I think
04:46the thing that a lot of people fall into is that once one thing becomes convenient I kind of want
04:51everything to be convenient yeah right I'm not gonna spend a thousand pounds on um let's say
04:57like e-healing or cabs and stuff yeah and then like cook for myself all right I'm not gonna do that
05:04because I'm so used to the I just chill someone's gonna do something for me right yeah um personally
05:10I'm really really big on on valet parking okay um that's my vice that's yeah okay that is my vice
05:17um and it's usually because um usually going into car parks like it can really intimidate me
05:25and the parking not the parking but literally like as a woman being in a car park okay that kind of
05:33thing and it's not like every single mall I go to or every single place I go to I valet park
05:37specific places where I know there's history of things okay okay car parks that I'm like you
05:45know what I would rather pay I would rather pay whatever you know um for the valet parking if that
05:51means it guarantees my safety yeah yeah I wouldn't call that convenient no that's a safety thing I mean
05:57it's completely fair okay can you say something worse because I'm gonna tell my convenience spends and
06:01you know sound really bad compared to that okay I mean same I mean okay from a safety perspective
06:06yes I do you know I go for valet parking but there are certain occasions where I know I'm running
06:12late okay and like I really gotta you know so I don't even go into the car park I go straight into
06:18wait so that's your main convenience spending yeah parking yeah valet oh my god you're gonna be
06:23so bad is my vice like I don't mind going to pavilion okay and paying what I need to pay okay
06:30I am the opposite I would never pay for valet parking I think okay this is one okay I think I'm
06:36being lazy no no no I don't think so I just I've always thought in my mind that there are certain
06:41things that no matter how much money I have I won't spend on it okay but maybe maybe if I have like
06:4615 million bucks I would pay for valet but okay but nowadays I would never pay for valet sometimes I
06:51look at it it's like oh 10 bucks valet that's that's not so bad yeah but I still don't do it
06:55recently I went somewhere I parked with my mom to go to the nine-speed mart and a guy came out
07:00it's like that's 10 ringgit I'm like no I'm gonna park outside the road it's like principles and
07:04principles um but what I would spend money on convenience wise I love spending money to buy
07:10time um so I have a cleaner that's one for sure I think that's I know some people say oh t20 things
07:18just clean for yourself I know I can clean for myself for sure um but one I have the budget for it
07:22and two I don't like cleaning right so I have a cleaner who comes every week she does four hours
07:26um irons my clothes and stuff of course I can do it but that is not something I would rather do
07:32uh I would rather like spend my time doing other things save in other areas and then spend my money
07:38here so right cleaning is one um another one is public transport so I used to take public transport
07:45to work uh I used to take LRT I have no excuse because my place I'm living in now I can literally
07:49walk to LRT okay and then my office is walking distance to LRT as well so I can't make any
07:54excuses like oh it's so far anything but I used to do my 50 um this was back when I just started
08:00self-employment so I wanted to cut down on cost so I took my 50 literally 50 ringgit a month
08:05unlimited public transport so it's really good deal yeah that is good deal yeah super good deal
08:09I think for Malaysian super good um how about subscriptions oh subscriptions okay you have a lot
08:15I have YouTube premium okay um but I think that's so common I think that's so common YouTube
08:20premium I wouldn't say so I mean Aisha didn't have YouTube premium she didn't yeah she said she
08:25doesn't have YouTube premium I think that's a convenience ban because I hate watching ads
08:28oh yeah exactly that's the thing right I have Spotify premium as well yeah which I feel like
08:33is super common those are the main two culprits yeah those are the main two right yeah you know I
08:38gotta pay a little extra not to watch the ads but like I think it in the grand scheme of
08:43things like it's worth it it's worth it yeah absolutely and I think this is the
08:47important part right where you say your convenience span is valet parking whereas I would never do it
08:53so it shows that everyone is different right and there's this guy I think his name is like
09:00Ramit or something like that in the US he's a personal finance influencer as well and he basically
09:04says you need to spend on things that you love the things that will make you happy right and what
09:09makes you happy I think it differs from person to person right some people would rather pay for
09:12valet parking some people would rather pay for a cleaner to come clean their house maybe at the
09:16end of the day we're spending the same amount but we're spending on two different things that we
09:20both personally prefer right and I think that is the key thing right you guys can really like I don't
09:24think anyone or maybe some people would judge you but it doesn't matter it doesn't matter what you
09:29want to spend your convenience money on as long as you keep it within your limits yeah I think that's
09:34the main thing like spending within your means I suppose exactly yeah so you would set your budget
09:38right for all your needs every month like I need to pay this this this 50 30 20 rule whatever it is
09:44and then when you have money left over then you decide okay now they have some extra money I want
09:49to spend a bit on so budget your convenience I suppose exactly right I see exactly exactly so you don't go
09:56overboard right yeah so like when is paying for convenience worth it and when does it become like
10:00a money job again I think this depends on person right like you prefer valet I don't I okay for me
10:06what I like to spend what would be an example of a money trap that's like convenience too much
10:11right that's the money trap too much too much checking everywhere yeah yeah I think these are
10:18things that a lot of people get trapped into yeah where you know everything you know I think if you
10:23work from home especially you never go out of the house then you start getting everything delivered
10:27to you easy yeah it's almost too easy because like especially because it's like an app like on your
10:31phone right like it's literally at your fingertips like yeah it's just way too I mean yeah the app is
10:38very it's so user-friendly and it's so convenient it is convenient I guess right so yeah that's yeah I
10:45guess that's a money check in a way in a way I'm sure there are other examples just can't really think
10:49of it now but that I mean this is an example of what people can fall into and like how do you
10:53decide like which tasks are like worth outsourcing so for you the things that I don't like to do
10:57yeah how about um laundry do you go to a no laundromat I use the washing machine so I use the
11:03washing machine and I dry it in the balcony but when it rains a lot right uh or when I have too
11:09much laundry that I can't fit it all outside there then I would go to a dryer okay but but you're doing
11:14it yourself yeah yeah right okay oh yeah I wouldn't send it to a adobe yeah yeah yeah that's what I was
11:20wondering I would do it for a suit like dry cleaning stuff okay no that's a friend because
11:24I have no choice right yeah you've got no dry cleaning in your house right okay another trap
11:28someone could fall into just send everything yeah to the adobe right yeah because it's it's
11:33essentially done for you easier they'll iron and fold your clothes even yeah but can you also like
11:38enjoy can you enjoy convenience without feeling like guilty once you budget it you can do everything
11:45else guilt-free that's why I always say when you budget things right you make sure you set aside
11:48your savings and investments first and then you set aside your needs because that's what you need
11:52everything else honestly spend it however you want if you want the convenience of sending all your
11:58clothes to the laundry and you don't mind cutting down on food right you go to a kopitiam or wama
12:04every day and eat cheap then you can do it guilt-free right you've got your savings sorted you've got your
12:08needs sorted the rest is completely up to you yeah I think the problem comes when the convenience
12:14spending comes at the expense of your saving and investment then of course you will feel guilty
12:19yeah yeah there's nothing you can do about that of course yeah of course okay all righty let's get to
12:24the first story which is hi I used hi hello okay first story I used to order food delivery almost
12:36every day it felt easy just a few taps and dinner arrived but one month I checked my bank statement
12:42and realized I had spent over a thousand two hundred ringer just on delivery fees and marked up meals
12:46that was more than my groceries for two months now I still order occasionally but I set a rule
12:52weed days are for home-cooked meals weekends are my treat yourself days it's cheaper healthier and I
12:57still get to enjoy convenience without overspending yep how often do you think it's okay to use food
13:02delivery because before it becomes a financial problem I think some people would argue that food
13:07delivery is kind of like the same as like cooking for yourself um in terms of like when you add up
13:13like the cost yep but you definitely spend more because the shops will mark up the price on the
13:18food delivery app just oh yeah yeah yeah yeah but again this depends on individual right if you're
13:25earning three thousand a month I would say you have nearly no business um ordering every day I know
13:30it's harsh but yeah it's not really your thing if you're on fifty thousand a month then do whatever
13:35you want by all means get delivery from Ipoh if you want to get your what you don from your
13:40Japanese restaurant exactly yeah so I think this really depends on your personal situation number
13:45one your income and then number two how you budget your money like I said you can spend other areas
13:49and then you have to cut down on this or you can save everywhere else and on buying food
13:54all righty okay next story I don't own a car so I use ride hailing everywhere my friends kept
14:02telling me I was throwing my money away and I should just buy a secondhand car but when I did
14:06the math down payment loan installments patrol parking tolls and maintenance yep I realized I'd spend
14:12even more yep using ride hailing actually made sense for my lifestyle since I don't travel every day
14:17what's smarter financially paying for a ride hailing or investing in a car does it depend on your
14:22lifestyle yeah oh yeah I was gonna say while you're reading that before you talked about second
14:26part I would say for some people ride hailing is actually cheaper yeah yeah yeah for sure so I think
14:31I guess friends would just have the perception that you're loaded and you're throwing money away
14:37instead of buying a car because the norm is to have your own car and just drive everywhere but if
14:41you've done the math and it's cheaper then yeah it doesn't matter what people say I mean it depends
14:46right like if if you're staying in like Satya Alam and you're like working in Puchajaya and you're
14:51taking like a taxi you know then of course then yeah yeah really really expensive but if you're
14:57staying in PJ and you're working like a pong I think you're all right yeah especially if you have
15:02public transport around you and you only use like ride hailing when you need to go to places without
15:07public transport then I think it can actually net off cheaper overall yeah only a car is not cheap
15:12yeah it is not a story for another day maybe another topic because it's a commitment right
15:16it is it is it is yeah and a lot of people buy too much car anyway yeah yeah yeah okay already well
15:22before we wrap things up do you have any like key takeaways all right I think first of all convenient
15:27spending don't feel bad about it I think so should spend money to make them happy that's the purpose of
15:32money after all the key is just don't overdo it so budget it decide for yourself what you want to
15:39spend that money on and you can't be everything right so make sure you still have your savings
15:43sorted your investment sorted your needs all paid for and then it's completely up to you it doesn't
15:48matter what people say some people might say this is a waste of money that is a waste of money but
15:51if it's worth spending for you then by all means go for it no I absolutely agree cool nice talking to
15:57you again Yasmin hope you guys enjoyed this episode of the money goal see you guys in the next one
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