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How Do Round-up Savings Work?

Updated: Jul 13, 2022

By Sabrina Loh

When you were a kid, do you remember how you’d take your spare change from your pocket money and put it in a coin jar?

When that jar was full, you’d meticulously count every single cent, surprised at how much money you managed to save just from coins alone.

That’s essentially how round-ups work, except there’s a cashless version of it now.

What are round-up savings?

Round-up savings are based on the principle that small amounts of money can add up to big savings over time.

Let’s say you order a kopi ais for RM2.50. If you round that up to the nearest dollar, in this case, RM3, you’ll have 50 cents remaining in change that you can put towards savings.

While 50 cents may not sound like much, this adds up to RM182.50 over the course of a year. That’s just from kopi ais alone!

Let’s take a look at another example — You order a roti canai every day for RM1.15. Round that up to RM2 and you’ll be putting 85 cents away towards savings.

In a year, that adds up to RM310.25. Just from roti canai!

Combined with your round-up savings from kopi ais, you’ve saved a total of RM492.75 in a year without even trying.

And that’s not even the full amount of how much you could effortlessly save if you apply the round-up technique every time you spend. You can round up for almost everything you can think of, like groceries, petrol, clothes, dining out, and more.

Why you should round-up:

It’s automatic

If you struggle to save money, rounding up is a great way to save without any conscious effort. Every time you spend, your total charge is rounded up to the nearest dollar. Before you know it, you’ve saved some serious coin.

It prioritises saving

Retirement or things like buying a house can seem a long way off for some people, and there’s always the temptation to spend. Round-ups prioritises saving effortlessly, every single time you spend.

It takes the pain out of saving

We get it. Saving money can sometimes make you feel deprived. But when you round up, the amount is so small on each transaction that you won’t even feel a pinch.

Round-up with BigPay

Round-ups help you to save more as you spend in the easiest way possible.

Your payments through the BigPay card will be automatically rounded up to the nearest Ringgit or Singapore dollar, and that spare change will be put in your Stash, a brand new feature that lets you organise your money by keeping things separate from your BigPay wallet balance.

Create a Stash in your BigPay app and use that as your personal space to save money and budget.

It’s also a great way to protect your money because you can’t accidentally spend what’s in there, unlike what’s in your wallet (we’ve all been there 🙈).

Round-ups is automatically activated the moment you create a Stash. Don’t worry, you can turn it on or off whenever you want. Learn more here.

Start saving more today by rounding up your payments through Stashes by BigPay!

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