How to save money as an international student in Malaysia
Living and getting around in Malaysia is relatively cheap, but if you're a student, you're likely to often think about how you can save up for travel, activities, and, why not, buy more books. Here are some tips to make the most of your student life in Malaysia.
Student card
The Malaysian student card, aka KADS1M, is free and available to all students in the country. Distributed by the Ministry of Commerce, Cooperatives and Consumer Affairs, this card will allow you to benefit from reductions on meals, clothing, leisure, books, health, restaurants, transport and plane tickets. The card allows you to save 5% to 60% on your expenses in more than 2,600 different points of sale.
To qualify for KADS1M, you must open an account at KADS1M Bank Rakyat, then fill out an online form and wait for a response that will allow you to retrieve your card. There are also other cards giving the right to discounts for students, such as the ISIC card (International Student Identity Card).
This offers more than 47,000 deals to students in Malaysia and around the world, but it is not free. The ISIC card is available in two different forms: one at RM42.40 and the other, more prestigious and advantageous, at RM84.80. It may be worth it!
Resources at the University
Each university in Malaysia provides its students with access to different educational resources and portals, which can be used for free. So instead of visiting public libraries and paying membership fees, you can go to your university library and use the internet for your research as much as you want. Don't forget to make the most of your institution's free conferences, training and events.
Online surveys
Taking online surveys is an easy way to earn money as well as spend your free time with a different activity that might help other people in the future. There are many online platforms that offer great compensation for your collaboration. Why not use them in your spare time? In the end, you will get rewards in cash or in the form of coupons and vouchers for different brands and stores.
Mystery shopper
As a mystery shopper, you will be paid for reviewing and rating products and services from different industries. Thus, you will be assigned to test a product or service and assess its quality. It could be anything: a visit to a retail store, a cup of coffee, a movie in a cinema, dinner in a restaurant, etc. You will of course always be reimbursed for the money spent. At the same time, you will be paid for the work you have done. In general, you can earn money and vouchers. In this way, in addition to financial compensation, you can enjoy free benefits on leisure products or services.
Shopping in town
First of all, it should be noted that it is worth shopping in the local street markets. There are plenty of them in Kuala Lumpur: Petaling Street, Kasturi Walk and Chow Kit Market are the biggest of them. You will find a variety of fresh products, clothes, accessories, jewelry, and much more for much lower prices than in supermarkets and shopping malls.
Moreover, local street markets make the Malaysian destination very attractive for tourists and will introduce you to the authentic culture in Malaysia. You can also download the Smart Shopper mobile application for your supermarket shopping. This app helps you compare grocery prices among different supermarkets and gives you the best prices in a second.
Finally, you can take advantage of sales during certain times of the year. Some dates have become essential for shopping fanatics in Malaysia like the Lunar New Year (January or February), the Lazada Birthday Sale (March 27), the end of Ramadan, or the Christmas period. As Malaysians are generally superstitious with numbers, several unusual dates coincide with discounts and special offers in stores. For instance: September 9 (9/9), October 10 (10/10), November 11 (11/11) and December 12 (12/12). Some sales events even allow you to save up to 75% on the price of certain products.
Online shopping
Online shopping has become very popular in Malaysia and is booming. There are many online stores with a wide variety of products offered at discounted prices. Keep in mind that some retailers offer attractive terms and online offers like free shipping, rewards on a loyalty card, etc.
You can also find online platforms that give away free coupons, discount codes and promotions on products and services from different brands. Do not forget to check if you can benefit from them before making a purchase on an online site. Also, do not forget to read the terms and conditions carefully to be well aware of the sales contract.
Cashback
If you are unfamiliar with the concept of cashback, here are some tips for you. There are many Malaysian credit cards that offer cashback for particular products or services. Check where you can use yours and buy to recoup some of your expenses.
You can also quickly get money while shopping on specific websites, which offer such cashback conditions. In general, you receive a percentage of 4% to 10% of your expenses for clothing, food, travel tickets and services. They cover different big known online stores such as ZALORA Malaysia, ASOS, Sephora, Hermès Malaysia and Lazada.
Cash or Credit Card
According to the Malaysian Insolvency Department, as of December 2021, more than 23% of the Malaysian population under the age of 34 declared bankruptcy. For students, therefore, it is common to face difficulties in managing their money and their spend wisely.
The best solution for this is to use cash. Only use a credit card when it's crucial, because getting into the habit of using a credit card can lead you into significant debt. When financial resources are virtual, it is difficult to realize how much a person is actually spending. Plan your budget and pay cash whenever possible.
Free leisure activities
With a rich cultural heritage, influenced by Asia and Europe, Malaysia offers plenty of entertainment and leisure activities, and the good news is that most of it is free. Start by joining a guided walking tour organized by Kuala Lumpur City Hall. It allows you to get acquainted to shops, to the local architectural heritage, culinary traditions, and history of Malaysia. There are plenty of galleries that you can visit for free.
The most popular leisure spots in Kuala Lumpur are Bank Negara Museum and Gallery, Galeri Petronas and Wei-Ling Gallery. You can also enjoy peaceful spots at the lake or at the Perdana Tropical Botanical Garden, and KLCC Park. Many theatres, cinemas and clubs offer discounts for students. Even if it is not always mentioned, it doesn't hurt to ask. Please note that due to the COVID-19 pandemic, health restrictions remain strict in Malaysia, but the government has been gradually softening these measures since the end of 2021.
Eating out
In Malaysia, a dinner menu is more expensive than a lunch. We recommend checking out foodie mobile apps for great deals, like Burpple and Eat Drink KL. You can read reviews and spot discounts and good deals for certain restaurants. You can also find meal vouchers and promotions on other websites.
Getting around Malaysia
The GoKL bus service is very useful if you are traveling within the Central Business District of Kuala Lumpur. They are free and quite convenient, as bus stops are located near shopping centers and entertainment venues. They also provide passengers with free Wi-Fi. There are plenty of other means of public transport to get around Malaysia like buses, trains, ferry, taxis.
Getting around by bike is the cheapest, but the bus is also relatively cheap in general. It can be quite difficult to find a reliable taxi in Kuala Lumpur. Therefore, more and more inhabitants of the capital prefer to use Grab (transportation application similar to Uber) instead. In addition to being cheaper, this service has many other benefits compared to traditional taxis, which often do not use their meter. Also, if you are planning a round trip to a neighboring country like Singapore, for example, buy your two tickets in Malaysia, as the same ticket bought outside the country costs much more.
Working part-time
A good way to make money while studying in Malaysia is through part-time work. Some universities may offer timetables suitable for working students, check with yours. But even if this is not the case, university studies generally offer a lot of free time. Taking the opportunity to do odd jobs can help you improve your budget a little. Moreover, there are many opportunities for those wishing to work in Malaysia, and young people have no trouble finding something to do, whether it's internships or odd jobs such as a waiter, barista, host, intern, or driver for Grab if you own a car.
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