Top of main content

Free up funds

A girl is looking up and smiling on the street; image used for HSBC Malaysia free up funds article page.

Sometimes we may not earn enough money to cover our expenses.

And we may have to borrow money to pay the bills. For others, even if we are living within our means, finding the capacity to start saving for a healthier financial future can be a challenge. If this sounds familiar, consider the following creative ideas to free up some funds:

Reduce your expenses

Identify ways to reduce your expenses or costs. You will find this a lot easier if you talk about it with a partner or loved ones. If your friends, family and those close to you are aware of the changes that you are trying to make, there’s a much better chance that you will see them through. Could you cut the number of times you go out each month? How about your impulse buying and online shopping? How much could you save each month by cutting back on a few luxuries? What are some fun activities or hobbies you could do for free instead?

If these changes don’t make enough of a difference, take a look at your other expenses. Could you reduce your food bill by better meal planning or shopping at a discount supermarket? Have you compared car or home insurance rates recently to see if you could be paying less?

Change your habits

If you can be flexible with your daily or weekly schedule, then you can often find plenty of ways to free up funds. How about going to the cinema at a less popular time, when ticket prices are cheaper? Could you schedule your meetings to a little later in the day, so that you can travel off-peak? How about making your lunch, rather than buying it at work? Could you work remotely, or from home, either some or all of the time?

Sell unwanted possessions

Selling items that you do not need, or no longer use, can be a very effective way to free up funds (and it also can help you to reduce unwanted clutter). There are specialist online retailers, as well as auction sites like eBay, where you can sell your unwanted items. There are buyers out there for CDs, DVDs, games and consoles, and there’s a strong market for good quality clothes that you no longer wear. Many people discover that they really enjoy selling stuff they no longer need at boot fairs, quite apart from the valuable income it can generate.

Use credit cards to have better control over expenses

Credit and debit cards make payments easy, and contactless payments are even simpler. But don't worry, you can still effectively control your spending by following our advice:

1. Choose a credit card without any annual fee

2. Make sure the credit card gives you extra rewards points on your frequently spent items to improve your overall financial health

3. Set a spending limit on your credit card

4. Set recurring repayments to your credit card balances via HSBC Online and Mobile Banking

How to set a recurring payment for your credit card:

Online banking Mobile banking
  • Step 1: Log on to online banking via www.hsbc.com.my
  • Step 2: Select 'Pay and Transfer' 
  • Step 3: Select the account you wish to pay from and the credit card you want to pay. (Note: If you're paying your own HSBC credit card, select 'Your accounts or someone you've paid before' in the 'To' field.) 
  • Step 4: Enter details and confirm. (To set recurring payments, select 'yes' under recurring).
  • Step 1: Log on to the HSBC Malaysia Mobile Banking app. 
  • Step 2: Select 'Move Money' then 'Pay and Transfer'. 
  • Step 3: Select the account you wish to pay from and the credit card you want to pay. Enter all other details and continue. 
  • Step 4: Verify details and confirm.
Online banking
  • Step 1: Log on to online banking via www.hsbc.com.my
  • Step 2: Select 'Pay and Transfer' 
  • Step 3: Select the account you wish to pay from and the credit card you want to pay. (Note: If you're paying your own HSBC credit card, select 'Your accounts or someone you've paid before' in the 'To' field.) 
  • Step 4: Enter details and confirm. (To set recurring payments, select 'yes' under recurring).
  • Step 1: Log on to online banking via www.hsbc.com.my
  • Step 2: Select 'Pay and Transfer' 
  • Step 3: Select the account you wish to pay from and the credit card you want to pay. (Note: If you're paying your own HSBC credit card, select 'Your accounts or someone you've paid before' in the 'To' field.) 
  • Step 4: Enter details and confirm. (To set recurring payments, select 'yes' under recurring).
Mobile banking
  • Step 1: Log on to the HSBC Malaysia Mobile Banking app. 
  • Step 2: Select 'Move Money' then 'Pay and Transfer'. 
  • Step 3: Select the account you wish to pay from and the credit card you want to pay. Enter all other details and continue. 
  • Step 4: Verify details and confirm.
  • Step 1: Log on to the HSBC Malaysia Mobile Banking app. 
  • Step 2: Select 'Move Money' then 'Pay and Transfer'. 
  • Step 3: Select the account you wish to pay from and the credit card you want to pay. Enter all other details and continue. 
  • Step 4: Verify details and confirm.

5. Check your credit card e-statements to see where you spend most of your money

How to view your credit card e-statements:

Online Banking Mobile Banking
  • Step 1: Log on to HSBC Online Banking and select 'View Statements' on the quick links.
  • Step 2: Under statement selection, select the 'Statement Type' and "Credit Card Account" you wish to view.
  • Step 1: Log on to your HSBC Malaysia Mobile Banking app.
  • Step 2: Select the credit card account you wish to view and select 'View Statements'.
Online Banking
  • Step 1: Log on to HSBC Online Banking and select 'View Statements' on the quick links.
  • Step 2: Under statement selection, select the 'Statement Type' and "Credit Card Account" you wish to view.
  • Step 1: Log on to HSBC Online Banking and select 'View Statements' on the quick links.
  • Step 2: Under statement selection, select the 'Statement Type' and "Credit Card Account" you wish to view.
Mobile Banking
  • Step 1: Log on to your HSBC Malaysia Mobile Banking app.
  • Step 2: Select the credit card account you wish to view and select 'View Statements'.
  • Step 1: Log on to your HSBC Malaysia Mobile Banking app.
  • Step 2: Select the credit card account you wish to view and select 'View Statements'.

A smart tip to free up your funds is to utilise every single offer you find

Financial wellbeing

A little girl and her parents are looking at the mobile happily; image used for HSBC Malaysia protect what matters article page.

Protect the things that matter the most to you

A woman is looking at her mobile phone; image used for HSBC Malaysia manage existing debt article page.

Smart ways to reduce what you owe

A woman is sewing clothes; image used for HSBC Malaysia getting financially fit article page.

Find out about what being financially fit means