My Take on Saving: Finding the Right Balance

At some point, you start thinking beyond the next paycheck. For me, that moment hit in my mid-20s—when I realized managing money isn’t just about budgeting, but making sure future me won’t be stressed. I still want to enjoy life, but a little planning goes a long way.

We love our overpriced coffee, weekend café-hopping, and the latest trends—whether it’s splurging on trending heels, buying expensive Baju Raya, or signing up for multiple streaming subscriptions. But as I’ve started working, I’ve realized that money isn’t just about spending—it’s also about preparing for the future.

Back when I was studying overseas on a scholarship, saving wasn’t really on my mind. Half of my allowance went straight to rent—super expensive. Any extra? Well, I’d save a little, but mostly for traveling. That was my idea of ‘saving’ at the time—experiences over bank balances. While I don’t regret those experiences, I’ve come to understand that financial security requires a more structured and disciplined approach.

Now that I’m working, I’ve started making small adjustments to be smarter with my money. Cutting back on RM15 coffee five times a week saves me RM300 a month—money that could go into savings, investments, or even a short getaway. I also use the My50 public transport pass, a government-subsidized initiative that provides unlimited travel for just RM50 a month, saving me a lot compared to driving. Instead of upgrading my gadgets every time a new one comes out, I stick with what still works, and I’ve also started being more mindful about spending on trending fashion, especially brands that go viral on Instagram.

While it’s tempting to keep up with the latest styles, I’ve realized that not every purchase is necessary. Choosing quality over hype helps me save without completely missing out on things I enjoy. These small changes add up over time, making a real difference in my finances.

On top of my normal savings, I also took up ASB Financing (ASBf), which works as an investment loan with fixed monthly repayments. This commitment ensures that I set aside a fixed portion of my income every month, making saving a structured habit rather than an afterthought. By doing this, I’m not just relying on whatever is left at the end of the month—I’ve already committed to investing in my future.

I have to admit, my approach to money wasn’t something I figured out on my own. My mom has always been my idol when it comes to financial management. She worked as a banking clerk before retiring, and to this day, she remains one of the smartest people I know when it comes to managing finances wisely. She didn’t just talk about saving—she took action. She set up ASB 3 Didik accounts for her children early on, ensuring that we had a foundation for financial security before we even understood what it meant. Her discipline and foresight shaped my understanding of personal finance, and now that I’m earning my own income, I see the value of financial planning more clearly than ever.

As an economist, I should encourage people to spend, because consumer spending is a crucial driver of economic growth. It fuels businesses, supports jobs, and keeps the economy running. But at the same time, excessive and unplanned spending can lead to financial stress, debt, and instability on a personal level. That’s why the key is balance—spending wisely while also securing your financial future.

I won’t pretend I have everything figured out—no one does. I still indulge in little luxuries, still make impulsive buys sometimes, and still struggle to resist a good deal. But I’ve learned that financial security isn’t about being perfect; it’s about being intentional.

For me, that means setting up savings that future me will thank me for, while still enjoying the things that make life fun. Some months I save more, some months I don’t—but I keep going. Because honestly, the peace of mind that comes with knowing I’m not living paycheck to paycheck? That’s worth way more than any fleeting trend.

I encourage young people to start thinking about savings early. Don’t burn through your paycheck just to keep up with your friends or trends—it’s not worth it. At the same time, life isn’t just about hoarding money. Go out, have fun, make memories—just do it wisely.