On July 23rd, Prime Minister Tun Dr Mahathir Mohamad launched the National Strategy for Financial Literacy 2019-2023 and ignited a thought-provoking discussion between Roshan Kanesan and Robert Foo on Wednesday’s Ringgit and Sense Podcast. Themes of the podcast include financial literacy, financial planning and EPF’s e-Member Investment Scheme but for contextual sake, let’s take a look into the financial situation occurring in Malaysia. Knowledge is Critical How do we expect to manage our money well and make the best financial decisions if we have no sources or information to base our decisions on? It is a dangerous path, one committed[…]

Are you sitting there at your full-time job, wondering how to increase your daily cash flow? Whether you are in need of a part-time job or want to be freelancing, you’ve come to the right place. In this day and age, with social media and marketplaces like Lazada, it’s easier to have a side income even while having a full-time job. No doubt property and other types of investments can make you money, but here are five solid ideas to increase your cash flow today. Side Hustle #1: Selling Stuff Join millions of people as they spark joy organizing their[…]

Make your money grow but choose the best way to do it. Most leading personal finance experts prefer to advocate the route of improving their earning power instead of saving money, so which do you think is the best way to grow your wealth? One can argue that it is better to have a combination of both good earning power and setting money aside for a nest egg. If you are looking to explore ways to how best to grow your wealth, then looking into the fundamentals is a good way to start.  The Old-Fashioned Approach The conventional way of[…]

E-commerce scams are now found everywhere online, and as we live in an age where the majority of us prefer online shopping rather than walking into a store, we should educate ourselves about the online scams that are so prevalent to avoid being scammed. An e-commerce scam is an online scam that occurs on a website requires you to input personal and payment-related information. Gone were the days where a physical credit or debit card was required to commit fraud, technology has advanced far enough that all a fraudster needs to commit the online scam are you inputting your details[…]

“You have to be rich to be poor”, this is a saying that rings true as it is expensive to be poor. A poor person is part of the endless cycle of forking out money for essentials and bills while having no improvement to their lifestyle as it is just too expensive to save, invest or make any sort of financial improvement towards their quality of life. A poor person will find things that cost “normal” for a middle income person to be too expensive for them as they are fighting tooth and nail just to survive to pay for[…]

Practising frugality is often mistaken as being a cheapskate; there are vast differences between the two. The mentality of being economical, reducing waste and getting the best value for what you are spending is being frugal. The mindset of being cheap is the overwhelming desire to not spend money for anything; people who are cheapskates have an obsessive desire to hold on to their cash. A miserly person’s character is very different from a frugal person, and you would find that you would prefer the company of the frugal person rather than a cheapskate. A frugal person has good budgeting[…]

Are you managing life with jumping from one paycheck to the next and feeling tired of living with the uncertainty of not knowing if your bills can be paid in the next month? It’s a stressful way to live, and no one should accept that life needs to be so financially unbalanced. Scrambling to make ends meet every month, juggling the payment of different bills and living in constant fear of a financial emergency can take a toll on anyone. The good news is that it’s not impossible to get out of the rut of living from paycheck to paycheck,[…]