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It is possible to not have a credit history especially if you’re still young. However, it is not a good situation to be in. Having no credit history at all may be hard for you to get your loan approved in the future. Banks have little to no reason to trust you with their money since you just starting off the working world. When it’s time to buy a car or own a house, having a healthy credit history is crucial. A credit score shows how good you are in managing money and highly reliable in almost all financial transactions.[…]

Upon taking out a home loan, most banks will typically advise you to take out mortgage insurance to secure your house. Mortgage insurance helps to protect your family from losing the house to the creditors should something undesirable happen to you before the loan is fully paid off. Purchasing a home loan insurance enables your family to continue staying in the house while the balance loan amount is settled by the insurance provider. The two types of mortgage insurance available in Malaysia are Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA). But for the first time home[…]

For many of us, employment is our main source of income. However, there are also significant costs that come with it. Being employed comes with a cost and expense that you’d not necessarily have if you’re a freelancer or if you’re working remotely. Let’s take a look at what an employee typically spends to be employed. As the saying goes, “it takes money, to make money”. Daily meals Food is the basic necessity of life. So, of course, it would cost you. The cost of buying breakfast, lunch and dinner every day can easily add up and cost you a[…]

When it comes to financial planning, there’s no such thing as too late or too early as everyone at their age could start planning their finances. The way to manage it might not be the same for everyone, as not all of us are at the same financial stage in life. Let’s take a look at how you can plan your finances at different life stages. The 20s (Building Foundation) Investing at a young age is not as easy as you are just starting to build your life and career. But remember, even though it is not easy, that is[…]

Insurance is essential in protecting our life from any potential risks that could ruin our financial wellbeing. Be it life insurance, travel insurance or health insurance, all these different types of insurance policies are there to protect you and your loved one in the event of a mishap. Among the many insurance products in the market, health insurance is a must-have policy to include in your financial plan. Health insurance will be a big help in reducing your financial burden of having to pay the hospital bills and the medicine cost that continue to rise. Malaysian are blessed with public[…]

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