Often, you are eager to save a few Ringgit at every opportunity so as to afford that new car or the latest smartphone.

What many fail to realise is that there is a difference between spending frivolously and spending wisely. Not total frugality or buying expensive things, but about buying sensibly.

You have to go the extra mile to save yourself needless expenditure. Here are the top seven reasons why spending money can save you even more.

1. Home maintenance

The saying, “A stitch in time saves nine” rings true. If you keep delaying necessary maintenance around your home, things will get worse.

Malaysia is prone to extremely hot and humid weather, thus, a well-kept home not only gives you protection, it also reduces expensive maintenance costs in the future.

Apart from the weather, there are possible structural issues such as a leaky roof, which can quickly spark into a bigger issue.

Therefore, create a checklist of necessary repairs and improvements broken down by time frame like weekly, monthly, half yearly and annually.

For instance, in your monthly schedule, put a reminder to clean your air-con filters, while in the annual one, you can put spring cleaning items like cleaning out your storage room.

Ensure that the repairs scheduled are absolutely necessary and do not let home maintenance companies fool you into spending on unnecessary items.

2. Smart shopping

Malls and shopping outlets have seasonal promotions and sales. If you can wait for the right time, it is quite easy to get the items you need at a good discount.

Make a list of the items you foresee you’ll need. This is your “wish-list”.

Do a survey and keep watch on the places that sell these items. The trick is to delay purchasing until the opportunity arises to buy it at a big discount.

3. Self-preservation

Health is your greatest wealth. No matter how busy you are, never skip breakfast.

There are numerous studies that show a nutritious breakfast improves performance and boosts your immunity.

Skipping a meal can save you money and cut fat, but you need to skip the right one. Don’t eat after dark but do have a nutritious breakfast.

Unfortunately, most people are too busy getting to work in the morning, then reward themselves with a big meal for dinner and even supper.

Here is a trick – wake up one hour earlier, and sleep an hour earlier to solve this issue.

4. Buy in bulk

There are several outlets that offer discounts if you buy in bulk. Some household items like cleaning agents and personal care products can be bought in bulk, since they have a long shelf life.

A trip to the supermarket just because you ran out of toothpaste does not make sense as you will have to bear the transportation and parking costs for such a redundant journey.

Do make a list before you leave the house. Supermarkets are always having sales and you might end up buying a lot of unnecessary items.

5. Membership programmes

Many companies offer loyalty and membership programmes. Using these cards, you can save a lot in buying your necessities.

Financial experts say there are a few membership programs from petrol stations, clothing, supermarkets, pharmacies and a few credit cards that are worth spending your money on.

For shops that you frequently patronise, it make sense to get the membership for rebates and rewards.

Research and deliberate whether it is worth it. Ask your relatives, friends and the companies themselves about their benefits, then weigh in your opportunity cost.

You will find some hidden gems. The trick is to get memberships that suit your spending habits and lifestyle.

6. Educational development

Education is the most important asset that you can invest in your lifetime. No matter what happens, never skip education or it will cripple you otherwise.

University and college tuition can be expensive but that doesn’t mean there isn’t a way to go around it.

A degree or doctorate is only an academic achievement. It can help you land a decent job but it is not a guarantee of success.

You need to learn constantly, especially specialised skills and financial knowledge that’s not taught in schools.

You can save yourself from costly mistakes like being scammed in some fancy investment scheme.

So do spend money on books, online courses, seminars and workshops. These educational enablers not only save you money but also increase your money-making capability.

Don’t forget that you get income tax relief for buying books.

7. Spend on love

“Relationship” does not only refer to your boyfriend or girlfriend, it extends to your parents, spouse, friends and even acquaintances.

Do attend seminars, conferences, social networking events and workshops if you love gaining knowledge.

You will meet lots of great people along the way. Invest a little bit of time to get to know them and you may even create new business opportunities for yourself.

This article first appeared in kclau.com

KC Lau’s first book Top Money Tips for Malaysians has sold thousands of copies. He launched the first online personal finance course specifically designed for Malaysians, entitled the Money Automation System. He also co-founded many other online financial courses including the Bursa Method, Property Method, Founder Method and REIT Method.