6 reasons to invest in peer-to-peer financing

We all have life goals we want to achieve but truth is, most 9 to 5 jobs don’t pay the bills. When you calculate the cost of rent, food, transportation, you might realise you barely have anything leftover to support your weekly brunches. Fret not, the apocalypse has not begun just yet. Here are some interesting ways you can save or earn more money so you don’t have to give up your visits to see your favourite barista.

1. Sharing the load 🙌

We currently live in what is called a subscription economy. From Netflix to Spotify - we have access to an infinite library of movies, music and more. However, these individual subscriptions can take a huge bite out of your wallet when stacked up. Instead of signing up for a personal account, why not opt to pool together with your friends or family to reduce the cost.

For example a single Netflix account costs RM33/month but for an additional RM18/month you can have up to 4 Netflix users under one account, which brings it down to RM13/month per person! That’s cheaper than your average frappuccino FYI.

2. Do the (Side) Hustle 🏋️‍♂️

It sounds like a major drag but you can make a quick buck or two by just working an extra hour a day on a freelance job. This is especially easy if you are skilled in a trade that you can flex from anywhere as long you have WiFi, e.g. writing, graphic designing, proofreading etc. In fact there are online platforms that are designed to hook you up with potential clients such as Fiverr.com, GetCraft.com, You.my to name few.

You can also turn your passions such as photography into a passive income by selling your photos on stock image websites like Pixerf.com and iStock. Hint: The industry is especially in need of a wide catalogue of Asian/local models.

3. The 30 Day Rule 🗓

Raise your hand if you’ve ever felt personally victimised by a Zalora Pay-Day Sales email that conveniently appears in your inbox right when your salary rolls in. #StayStrong The 30 day rule is a simple but effective method to transform impulsive purchases into informed purchases.

Here’s how it works: Whenever you see something you would like to buy - don’t. Make a note of it in your journal or notebook (include date, website, price). Do not take any action on the impulse item for 30 days. You can use this time to scout if anyone has it cheaper and to read reviews of the item.

Once you’ve had a month to ponder whether you actually need the item, it’s time to make your decision. If you still believe you must have it, then go ahead and buy it, as long as you can afford to pay for it right away. If you no longer feel quite as excited about the item, then skip it.

The fact of the matter is there are numerous ways you can save/earn extra money if you want to. You can also use apps such as BigPay to keep track of your spending habits. Our in-app expense analytics instantly shows you exactly how much you’re spending, on what, and where!

Ps: You can earn RM10 every time you refer a friend and they successfully activate their BigPay card.