Student Info & Guide

5 Tricks to Learn from Millennials to Save Money

by StudyMalaysia.com on January 16, 2018 | Top Stories, Useful Tips

5 Tricks to Learn from Millennials to Save Money - StudyMalaysia.com

By default, most millennials don’t have much savings yet as they’re relatively young. And because of that, they have various ways to save money on a tight budget. Here are 5 tricks we can learn from them to save money.

1. Use The Right Apps

Millennials are quick to scout good deals because they have the right apps on their smartphones. First up is Fave, THE app you should have to enjoy the best deals and discounts for dining, travel, spa, travel, fitness and more. Carousell is another popular app with millennials because it helps them to sell off their unwanted items hassle free. While Eatigo is an app which will let you search for restaurants that offer discounts when you make your reservation through the app.

2. Be Smart With Transportation

Ride-sharing options such as Grab and Uber are the go-to public transportation because of its convenience, and the much cheaper and fairer pricing compared to taxis. Grab also has the GrabRewards catalogue where you can choose to redeem your GrabRewards points for free juice, movie tickets, ice-cream, get discount vouchers and more. The catalogue is often updated so there’s always new items you can redeem.

Adding to the list of cheap transport options is bike sharing. oBike bicycles parked everywhere are a common sight these days, especially in Kuala Lumpur and Petaling Jaya. Using it is convenient, just download the app to unlock a bike, and you’re ready to ride.

3. Share To Save Money

Sharing a Netflix account is common with millennials, because you get to enjoy movies and shows on the go and also save money. Netflix’s basic plan is RM33 which allows you to watch shows on 1 screen. But if you get the premium account which allows you to watch on 4 screens, you enjoy a cheaper monthly payment. At RM51, it would only cost RM12 a month if you split it among 4 users.

Love music? Use Spotify Premium for Family account, which costs RM22.40 a month. It works out to about RM3.73 per person per month if you have a large family of six, which is the maximum users allowed for the family account. But you need to have the same address in order to make use of the Spotify Premium for Family account. If you live in a house with a bunch of friends, you can also make use of this package.

4. Stay Up To Date

Entertainment is among the high expenses for millennials, but they are also known to be savvy even when having fun. Keeping up with the latest happenings also means millennials are always in the know of latest sales, promotions, early bird and special price and more.

5. Packing Your Own Lunch

While many millennials’ favourite past time is to check out the latest cafés and restaurants, when it comes to their daily meals, some millennials prefer to pack food from home simply because it’s cheaper. And besides, home packed meals are also healthier, which is another important life factor to this generation.

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