3 Simple Ways To Overcome Rising Cost Of Living In Penang

Penang is one of the most expensive states to live in Malaysia… And you know it will get worst.

  • Combo meal in a fast-food restaurant – RM13
  • Dinner out in a neighbourhood pub for 2 – RM61
  • Visit to private doctor – RM66
  • Monthly rent for 85 m2 furnished accommodation – RM1500 to RM2300
  • Brand new 1.4-litre continental car – RM143,000

Based on some calculations, you may need between RM9000 to RM11,000 a month to lead a decent life in Penang.

If you are currently earning RM11,000 a month, that’s good.

If not, that’s okay. We have 3 ways for you to make more money to overcome this rising costs of living in the long run.

1. Rent out your extra room

If you have an extra room in your home and no one is using it, consider renting it out to earn rental income. The average rental rate in Penang for a single room is about RM800 to RM1100, depending on the location and convenience as well.

Once you rent out, you can expect to receive additional few hundred dollars every month, which can help you overcome your all the rising costs.

2. Buy and rent a property

If you want your own privacy and don’t want strangers staying in your house, then you can consider buying a property and renting it out. A 1-bedroom condominium can cost anywhere between RM5300 to RM7500 per square metre.

You can rent out the whole unit for RM1500 to RM2300 a month. After deducting the mortgage loan and expenses, you can still keep about RM400 to RM500 a month, which is extra income for you.

3. Trading in Financial Markets

If you don’t have an extra room to rent out, or don’t want to live with strangers, or don’t have a huge capital of $500,000 to buy a property to rent out, then this method is best for you.

You can make a few hundreds to thousands of US dollars a month by trading in financial markets.

Yes! There is a unique trading system where thousands of Malaysians have been profiting from it every single day!

This system will be reveal in a FREE  3-hour live seminar, where you will discover…

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That’s why so many working Malaysians have chosen this method to create additional passive income out of their day job.

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