E-wallets have been popular locally and globally. The adoption of digital payments or e-wallets has been encouraging, as Bank Negara Malaysia (BNM)’s Payment Statistics stated. Along with suppressing the need to use your physical wallet, e-wallets have also helped us save money in numerous ways. How exactly does an e-wallet help you to save money? Find out the answer below!

  1. Track your expenses

There are many reasons why e-wallets garner such popularity at such a fast pace; one of those is because you can monitor your money with ease. Digitalizing money provides heightened security, convenience, and speed compared to physical cash. 

Covering the very basics of personal finance, e-wallets help you keep track of every money you spend. You’ll no longer need to manually log your deals in an app when you make a purchase since all the work is done for you automatically. This also means that you don’t have to spend time and energy trying to remember your expenses and welcoming fuss-free and smart expense tracking.

  1. Make it part of the money-saving plan

The hardest thing about saving money is getting started. But, with e-wallets, you can now save money by developing a realistic and straightforward strategy and making it part of a money-saving plan. How, however? You can top up with a specific amount limit based on your monthly budget.

As the owner of the e-wallet, you can determine the amount of money to load into your e-wallet. By topping up your e-wallet with an amount limit based on your monthly budget, you can reign in your spending. You should try this if you have a particular problem with spending such as shopping and eating out. 

Discipline is the key here. Make sure that you don’t cave in by topping up with more cash if you’ve spent all the money in it before the month ends. If you acknowledge that you’ve hit your budget limit, you can start reducing your indulgences and save money more wisely.

  1. Enjoy discounts and cashback

You can take advantage of cashback or discounts on e-wallets and make it as how to save money. Usually, there is a time limit for cashback promotion, so make sure that you use it in time. As a part of a brand’s marketing strategy, discounts and cashback can help save your hard-earned cash in general. E-wallets offer many discounts and cashback to get the ball rolling on getting users aboard.

Using e-wallets, it’s easier to earn points and win some cashback. Whenever there is competition in the market, e-wallets are all fun and games in the discounts arena to benefit consumers. Enjoying attractive discounts and cashback from significant players like Boost, GrabPay, and Lazada Wallet is how you can quickly and conveniently save money with e-wallets.

For some of you, the idea of cashback may sound too good to be true, but it does exist. So, watch for your notifications to see if your chosen e-wallet offers discounts. With this, you can make a purchase, and the seller will pay a part of the price back to you, getting you to save while spending at the same time.

  1. Pay your bills on time

Paying bills on time isn’t as easy as it may seem, but it’s an important skill to learn and one of the ways to save money. You will fall behind with payments if you don’t pay bills on time, which can leave you in debt and affect other aspects of your financial life. 

While it’s possible to miss the “Please Pay Before” date on your monthly bills because of your hectic schedules to juggle, you have to step up your game. To avoid forgetting the number of assignment deadlines to meet, e-wallets can be your savior. E-wallets will help you avoid any late payment charges or penalties.

Known as one of the most efficient payment methods, an e-wallet can also help you save money easily. Implementing those money-saving tips above will give you many advantages, both in spending and saving arenas. So let’s start saving money with an e-wallet and adopting better financial habits!

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