{"id":17578,"date":"2022-02-28T19:00:00","date_gmt":"2022-02-28T11:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/how-to-reduce-financial-burden-stress.html"},"modified":"2026-03-26T16:00:17","modified_gmt":"2026-03-26T08:00:17","slug":"how-to-reduce-financial-burden-stress","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/money-tips\/how-to-reduce-financial-burden-stress.html","title":{"rendered":"11 Practical Hacks To Reduce Your Financial Burden And Stress"},"content":{"rendered":"\n

Everyone is now dealing with financial burden, problems, stress or struggles during this current COVID-19 pandemic situation. If you\u2019re one of them, learn how these 11 practical hacks can help you overcome and reduce the financial difficulties you\u2019re facing.<\/strong><\/p> \n

Money is the one thing that we all work hard for, yet always seem to never have enough. Though money can\u2019t buy us complete happiness, it\u2019s still an important tool to help us achieve goals that we aspire in life.<\/p> \n

Our struggles with money is particularly evident in today\u2019s COVID-19-inflicted economy, which has caused many to lose their primary source of income. Therefore it is imperative, now more than ever, for us to manage our finances prudently to ensure that we save for a rainy day.<\/p> \n

To help you relieve your financial burden and navigate the somewhat challenging world of money management, we\u2019ve compiled a list of financial hacks you might want to consider in a bid to stretch your Ringgit to the maximum.<\/p> \n

1. Schedule your savings<\/h2> \n

One of the most tempting times of the month is when we see that nice, fat, paycheck land in our accounts. We instantly feel the need to spend on the cash, but hold up! It\u2019s time to change that bad habit.<\/p> \n

Split your paycheck between multiple accounts by scheduling your transactions so that a higher percentage of your paycheck ends up in your savings account every month. This will remind you that you\u2019ll only be allowed to spend on a certain percentage while the rest goes into savings or investments.<\/p> \n

2. Grow your own food<\/h2> \n

Cut the long-term purchasing costs by growing your own produce and basic ingredients like ginger, garlic, chilli, among others. Of course this hack depends on whether you have a functioning lawn to begin with. Additionally, the growth of your produce depends on other factors such as sunlight, water, soil and fertilisers, which when added all together may seem like a lot of work for the faint hearted.<\/p> \n

But this fix works well for Malaysians in particular, who use a lot of basic ingredients and vegetables in their dishes. We found a local blogger<\/a> who agrees with us. This local news outlet<\/a> thinks it\u2019s worth the effort too.<\/p> \n

We recommend growing your own food because it will generally contain fewer pesticides and fertilizers, and is also greener and more environmentally friendly than its counterpart. The only flipside is that it may be slightly more expensive. But think of it as a long-term investment for the overall health and well-being of you and your family.<\/p> \n

3. Make the most of your spending by using credit cards<\/h2> \n

Take full advantage of the benefits that come with credit cards such as rewards<\/a>, cashback<\/a>, and airmiles<\/a>. (Well… maybe keep the travel rewards for when the pandemic is a distant memory.) Many banks and e-commerce companies offer huge discounts or attractive cashback options<\/a>.<\/p> \n

If you\u2019re wondering where to get a headstart on credit cards, you can consider browsing through some of the credit cards available on CompareHero here<\/a>. Shopping online is also much safer, faster and more rewarding in today\u2019s new normal.<\/p> \n

Though credit cards offer many great benefits, it must also be managed wisely. Besides paying credit card bills on time, making a budget for your credit card spending, and checking credit scores constantly, here are other tips on how to use credit cards responsibly<\/a>. As long as you maintain high discipline and remain cognizant of paying the monthly bills before the due date, credit cards can be very beneficial for you.<\/p> \n

An alternative are e-wallets, which have mushroomed in Malaysia over the past few years. In an effort to encourage cashless payments, the Malaysian Government is offering a one-off RM30 e-Wallet credit for qualified Malaysians as part of their e-Tunai Rakyat initiative.<\/p> \n

When you claim it with GrabPay,<\/a> you can enjoy vouchers and discounts worth up to RM3,000. Touch \u2018n Go also offers rewards like cashback and cash vouchers<\/a> when you spend on their platform. Other recommended e-wallet platforms include Boost<\/a>.<\/p> \n