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A credit card is a great credit facility to have, and it can be especially helpful during emergencies. But when using this facility goes unchecked, it can become dangerously addictive to the user. It is nice to have such a spending tool at your disposal, but most users are under the impression that the credit limit on the card is free cash; it is not. The credit limit provided by the bank is basically how much you are allowed to “borrow” on the card. Here are five signs to identify a credit card addiction. 1. Hiding Their Credit Card Bills[…]

We start budgeting to ensure that we always have enough money in advance for the things we need or would like to do. However, once in a while, have you ever find yourself running out of money even though you’ve created a budget plan? Many people do not realise that they’re making crucial mistakes in their spending plan which eventually ended up costing them more. These mistakes often seem small and perhaps not even seem like one which leads you to overlook. Are you on a budget? Let’s identify if you possess any one of these common budgeting mistakes. Being unrealistic People[…]

Covid-19 is a worldwide concern, and on a national scale it is no exception. Since Malaysia has implemented the Movement Control Order, #StayAtHome has become a trending hashtag among social media users. This order has left some of us with unpaid or half-paid leave and that is something to be worried about especially for those who have been living from paycheck to paycheck. How can you afford to pay bills or stock up your kitchen with 2-weeks worth of food supply in this dire time? Be it a movement control order or any other unexpected circumstances, you won’t have to[…]

Picture this: you’ve been queuing forever for your things, and as you finally approach the head of the queue after seemingly YEARS of waiting, you hear 3 horrifying words: “Sorry, cash only.”  How inconvenient! You scoff. Who even carries around cash nowadays? In the age of Paylah, Paywave, Grabpay and a plethora of other virtual payment options, carrying around cash could even be considered a faux pas in this generation.  And there’s certainly no reason to! Even our hawker centers are moving towards cashless options and all for good reason: virtual payments are safer, more convenient and even more effortless.[…]

Another sign of adulthood that no one’s ready for is no doubt paying taxes. In Malaysia, filing for income tax is compulsory by law. The amount of tax that you need to pay varies depending on your annual chargeable income. But how do you know whether you are eligible enough to file for income tax? Am I taxable? Let’s take a look at your employment income. If you are earning more than RM34,000 per year which equivalent to RM 2833.33 monthly after EPF deduction, then you can consider yourself taxable. That’s the figure given by Inland Revenue Board (IRB) of[…]

No thanks to the Covid-19 pandemic outbreak, Malaysia has been put under partial lock down under the Movement Control Order. Under this order, many of us will be working from home and avoid going outside unnecessarily. You are fortunate if your company is still paying you during this difficult period. However, many people are financially affected either from layoffs or forced to go on unpaid or partially unpaid leave. On top of that, the world’s long stock market bull run sees its first collapse after 12 years, causing many to see red in their portfolios. The prime sector affected is[…]

The Covid-19 outbreak has resulted in many Malaysian workers to start working from home and minimise public gatherings. In other words, you will be spending most of your time staying at home to avoid contributing to the spread of disease. But hey, the more time you spend at home, the bigger the energy consumption. During this period of time, your electrical bills might be slightly higher compared to your normal weekdays. You must be thinking on the ways to save electricity during your prolonged period at home. But before that, let’s get to know the average usage cost of your[…]

Debt can be damaging if it gets out of control. Hence why you should be able to manage your debt wisely. Note that poor debt management will lead you to great financial strain in the future. However, debt can be good or bad depending on how you use it. But before that, how do we distinguish between the two? Good Debt When you take out a loan to purchase something that will increase in value overtimes, it’s different from borrowing for quick gratification. So you’re in debt for an investment? Yes! Debt can be an investment if you use it[…]

Find yourself emptying the coins from your pockets or rummaging through the coin box in your car for spare cash every other month? You may be living beyond your means when you constantly find yourself stressed out over money. It’s barely halfway through the month but you’re already stocking your kitchen with instant noodles. Sometimes overspending may also be a sign of underlying emotional stress which causes people to comfort themselves through ‘retail therapy’. Our lifestyle choices dictate our spending habits. The way you choose to spend that extra dollar bill in your wallet is a choice. It would not[…]

Finally, after years of battling endless exams, teenage acne and crippling anxiety from the fear of being shunned by your peers, you’ve crossed the line into adulthood. You’ve just landed your very first job, one of the lucky few from your cohort to do so, and so soon after graduation. The rollercoaster is over, the intensity of your problems will soon pitter out because finally, you’re in the clear. Compared to the angst and grief of your teenage mutant (not quite a ninja) turtle years and the desperate frugality of college life, adulthood is going to be a breeze…right?  If[…]

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