7/09/2025

ON SUNDAY September 7, 2025 theSunday Special IX

Step 6: I learned to say “I FDQ¶W D̆ RUG LW´ DQG QRW IHHO embarrassed) I Q 0DOD\VLDQ FXOWXUH GLVFXVVLQJ PRQH\ can be taboo, especially when one is VWUXJJOLQJ ¿QDQFLDOO\ %XW , KDG WR VWRS WU\LQJ WR ³ORRN RND\´ DQG VWDUW EHLQJ RND\ I said no to expensive lunches with FR ZRUNHUV , VNLSSHG PDWFKD ODWWH UXQV , unsubscribed from a few online services. I started being honest about not being able WR D̆ RUG FHUWDLQ WKLQJV ± QRW EHFDXVH , ZDV poor, but because I had priorities. A WXUQLQJ SRLQW ZDV ZKHQ DQ DFTXDLQ tance said, “You’re so disciplined, I should do the same.” It reminded me that bound aries, not budgets, are what protect your long-term happiness. Step 7: I increased my income on the side Budgeting can only go so far. If your expenses are already lean, increasing income is the next frontier. I VWDUWHG WDNLQJ IUHHODQFH ZULWLQJ JLJV RQ ZHHNHQGV 6RPH PRQWKV , PDGH DQ H[WUD 50 2WKHUV RYHU 50 ,W wasn’t always glamorous, but it helped speed up debt repayment and boosted my savings. A FFRUGLQJ WR D )20&$ VXUYH\ PRUH WKDQ RI 0DOD\VLDQV UHVRUW WR JLJ ZRUN WR VXSSOHPHQW WKHLU LQFRPH RIWHQ WR SD\ R̆ ORDQV RU VXSSRUW GHSHQGHQWV ( xtra income also gave me breathing room to explore investment options later.

Step 8: I learned the basics RI LQYHVWLQJ ZLWKRXW JHWWLQJ scammed) 2 nce I had almost no “bad” debt left and at least three months of savings, I tiptoed into the investing world. I started small with Amanah Saham Bumiputera (ASB) before gradually moving on to bigger LQYHVWPHQWV LQ WKH IXWXUH RQFH , FDQ D̆ RUG them. I W¶V WHPSWLQJ WR EHOLHYH LQ WKLQJV OLNH TXLFN UHWXUQV DQG FU\SWR K\SH EXW , NHSW UHPLQGLQJ P\VHOI VORZ JURZWK LV EHWWHU than fast regret. “If it sounds too good to be true, it XVXDOO\ LV ´ ZDUQHG 6\HG 0RKG )DX]L “ 6WLFN WR UHJXODWHG LQYHVWPHQWV HVSH cially if you’re just starting.” T KH 6HFXULWLHV &RPPLVVLRQ 0DOD\VLD¶V website has a list of approved digital investment platforms for beginners if you’re interested in exploring investment options. S WHS , UHGH¿QHG ZKDW ³ULFK´ meant Debt-free does not mean “loaded”. It PHDQV \RX KDYH FRQWURO 2QFH , KDG almost cleared my obligations, I was able to start saving for travel, retirement and someday owning a home. But I also started spending more intentionally. To me, richness now means being DEOH WR EX\ ERRNV ZLWKRXW JXLOW WUHDW P\ SDUHQWV WR GLQQHU RU ZDNH XS ZLWKRXW stress about overdue payments. It’s not instant, but it is possible I FRXOG VD\ , WXUQHG P\ ¿QDQFHV DURXQG LQ VL[ PRQWKV ,W DFWXDOO\ WRRN VL[ \HDUV (and counting), one tiny, persistent step at a time. There were relapses. There were PRQWKV , VOLSSHG %XW , NHSW VKRZLQJ XS for myself, and that consistency made all WKH GL̆ HUHQFH If you’re currently staring at a wall of GHEW DQG IHHOLQJ OLNH D IDLOXUH UHPHPEHU ,W¶V QRW D UHÀHFWLRQ RI \RXU FKDUDFWHU LW¶V D chapter of your journey. You’re not alone and you can DIY your way out, too. They also provide free online resources, such as e-books and planners, to help you better manage your debt on your own, if you prefer to do it yourself. Sometimes, the most significant flex is not how much you earn but how well you manage what you have.

Step 2: I adopted the “Zero-Based Budget” method Instead of budgeting based on rough estimates or past expenses, I began assign ing a role for every single sen I earned each month. They mainly consist of student loans, car loans, credit card repayments, and instalments for laptops and phones. This method, popularised by American ¿QDQFH FRDFK 5DFKHO &UX]H IRUFHV \RX WR SODQ LQVWHDG RI VSHQGLQJ ¿UVW DQG WKLQNLQJ later. It gave me structure, and more importantly, clarity. I started using a budget app, but you FDQ MXVW DV HDVLO\ GR WKLV ZLWK D QRWHERRN and highlighters. Step 3: I built an emergency fund – RM100 at a time I I \RXU EDQN DFFRXQW VFUHDPV HYHU\ WLPH \RXU FDU EUHDNV GRZQ RU \RXU FDW VZDOORZV a rubber band (true story), you need an HPHUJHQF\ IXQG %HIRUH , WDFNOHG WKH ODUJHU GHEWV , VHW DVLGH 50 LQ D VHSD rate account. Then I gradually increased it to one month’s expenses, then three. S \HG 0RKG )DX]L 6DLG +XVLQ $.3.¶V )(:5& 6HFUHWDULDW 6WDNHKROGHU 0DQDJH PHQW Ṙ FHU VDLG HYHQ VPDOO EX̆ HUV KHOS you stay out of debt. “It’s a myth that you need thousands VDYHG EHIRUH \RX¶UH VDIH (YHQ 50 can stop you from reaching for a credit card when life throws you a curveball,” he said.

S WHS , SDLG R̆ GHEW XVLQJ WKH ‘snowball’ method There are two primary strategies for pay LQJ R̆ GHEW 7KH DYDODQFKH PHWKRG SD\ - LQJ R̆ GHEW ZLWK WKH KLJKHVW LQWHUHVW UDWH ¿UVW DQG WKH VQRZEDOO PHWKRG SD\LQJ R̆ GHEW ZLWK WKH VPDOOHVW EDODQFH ¿UVW I chose the snowball method because I needed emotional momentum. (DFK WLPH , SDLG R̆ D ORDQ HYHQ LI LW ZDV MXVW 50 LW IHOW OLNH D ZLQ 7KDW VHQVH RI SURJUHVV PRWLYDWHG PH WR NHHS JRLQJ 0\ JRDO LV WR FORVH P\ FUHGLW FDUG account, shred the card, and celebrate (on a budget). A FFRUGLQJ WR 'U 0HJDQ )RUG D 86 based financial therapist, behavioural ZLQV PDWWHU MXVW DV PXFK DV ¿QDQFLDO ZLQV )RU PDQ\ FOHDULQJ D VLQJOH VPDOO GHEW EXLOGV FRQ¿GHQFH WR IDFH WKH ELJJHU RQHV Step 5: I negotiated everything ) rom phone bills to credit card interest rates, I started calling service providers DQG DVNLQJ D VLPSOH TXHVWLRQ ³,V WKHUH D way to lower this?” S XUSULVLQJO\ LW ZRUNHG DIWHU VRPH H̆ RUW ZDV PDGH , VZLWFKHG WR D EXGJHW friendly mobile plan based on my personal XVDJH :KHQ , FDOOHG P\ EDQN WR UHTXHVW D ORZHU FUHGLW FDUG LQWHUHVW UDWH WKH\ R̆ HUHG a six-month promotional rate that shaved R̆ 50 LQ FKDUJHV 2I FRXUVH WHUPV and conditions apply in these cases. L HVVRQ ,W GRHVQ¶W KXUW WR DVN

Behavioural wins matter just as much as financial wins. For many, clearing a single small debt builds confidence to face the bigger ones.”

START small. Track everything. Be kind to yourself. And if all else fails, consider consulting a licensed financial planner or a credit counselling service, such as AKPK, for personalised help. The organisation’s debt management programme is free of charge. Take advantage of that.