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When you purchase something on the spur of the moment, that’s impulse buying. The moment you decide to buy a jumpsuit after passing a store that shows great discounts, know that you are making an impulse purchase. It is not easy to avoid impulse buying. Impulse buying doesn’t have to be about expensive shiny items. It can be as small as grabbing a chocolate bar that wasn’t on your grocery list. You’re making impulse purchases whenever you suddenly decide to buy things without a plan to do so. Impulse urge is almost subconscious and can be very dangerous. Have you[…]

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.[…]

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[…]

We encounter countless risks throughout our lifetime. Although risks can be intimidating, there are ways to manage and deal with them accordingly. Investment, like everything else, involves a certain degree of risk. You are exposed to different forms of risk when you invest. Even not investing at all has its own risk. An investor should be able to tolerate some amount of risk to build wealth. The risk of investment refers to the potential for losses instead of projected return on investment. The expected profit is never guaranteed when it comes to investment. That’s why having an understanding of the[…]

Experiencing setbacks is part and parcel of life and it’s no different when it comes to our finances. Be it a major financial setback like a layoff or a minor setback like an unexpected car repair, both can hit us emotionally and psychologically if you’re not financially well-prepared. If you find yourself dealing with any financial setback, consider following these steps below to get you back on track.  Assess your current situation Having an emergency fund worth at least 6 months of your expenses will be a big help during this dire time. But what if your savings is not[…]

Money can be an uncomfortable topic to talk about even among couples. There is a fine balance to keep when discussing financial matters as it can make or break your relationship. As unpleasant as it is for some couples to discuss their finances, managing your money as a couple is important – especially if you are planning for the future that involves children, college funds, and retirement plans. 1. Set A Time and Occasion to ‘Have the Talk’ It is easy to keep putting off uncomfortable discussions, especially when both parties would much rather avoid having the conversation. This could[…]

Keen to turn your hobby into a money-making venture? There are ways to do it if you can spare some extra effort and time to turn your pastime activities into generating some extra money. Monetizing a hobby is quite popular in this era of digital marketing and online businesses. Etsy is a prime example of a successful platform that helps individuals monetize their hobbies. If you have been thinking about turning your hobbies into a second income, then these tips might be able to help you. 1. Plan Do your research and set up a business plan. Find out how[…]

They said that building wealth is pretty straightforward. You just have to earn more, save more or invest more. But if growing wealth is that simple, why are many of us still living from paycheck to paycheck? If you notice that in every movie, there will always be that one antagonist who tries to mess everything up. In our world of finance, there are several common enemies that are eating up a chunk of our wealth much faster than we can imagine. These enemies will stop your money from growing even after all the hard work. Here are the 6[…]

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