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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[…]

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[…]

Valentine’s Day is regarded as a romantic but expensive occasion by most couples, and this is mostly due to retail companies jacking up their prices during the celebration. As soon as February starts, one can expect the costs of flowers, chocolate arrangements and dinner plan to be more expensive than usual. With that said, you do not need to burn a hole in your wallet to celebrate the occasion well. It is possible to have an enjoyable, budget friendly Valentine’s Day with these following tips. 1. Cook The Meal There’s nothing more attractive to a woman than a man who[…]

Myth #1: Financial planning is only for the rich Misconception The general perception of having financial planning is that it is for the wealthy. The middle class and the poor do not have the surplus or the allocation in their financial state to think about financial planning and savings due to their circumstances. A person who is living from paycheck to paycheck would have to think about stretching what little income they have into paying bills and surviving from month to month. The thought about financial planning would not be their priority. Most low-income earners are mindful of the fact[…]

It’s that time of the year, bring out the pen and paper for new year resolutions. If you are planning on making new year resolutions that are financially relevant in 2020, then stay on board and let’s look at the options. Thinking about improving your financial state and to have good financial health for 2020 is a great mindset to have for the new year. On your own, reflect on 2019. Are you happy with how it went? If you could do things differently about your finances and lifestyle in the previous year, what would they be? Now it’s a[…]

A couple of months ago, someone asked this question on one of the Personal Finance groups on social media, “Do you need money to be good with money?” And it made me think… Do I really need money to be good with money? Or should it be the other way round? Is it because I have no money, therefore I should learn to be good with money? Could it be, because I have money and therefore I know how make even more money? Or maybe because I don’t have money, and therefore I am bad with money. OR is this[…]

I grew up in a middle-class income family. Money was certainly not something my mother would coin as easy. If there’s anything I remember about money as a child, it would be her favourite phrase – “You think money grow on trees ah??” in a typical Asian mum fashion. With two working parents, we had enough growing up. It wasn’t luxurious, but we weren’t entirely deprived either. There were enough to eat, we had a decent roof over our heads and the privilege of going to school. There were occasions where my parents gave in when I relentlessly wanted something,[…]

Overspending. Why do people still do it if it’s so detrimental to our financial health? Could it be that temporary high, that euphoric moment and the rush of adrenaline? How many of us are familiar with these feelings whenever we purchase something? But oops, bummer. It all dies down the moment the parcel arrives. That 3rd bag goes into the closet – never seeing daylight again, and you convince yourself you’ll need it – “just in case”. Is this behaviour more common than we think? A study done in 2014 shows that we make 40-80% of our purchases on impulse,[…]

“Never talk about money at the dinner table,” they used to say. For a long time, it was considered extremely impolite to discuss the topic of money with others. This taboo originated from the British. Back then, if you happen to be wealthy and you were freely discussing money, you would come across as gauche and extremely tacky.  If you were financially struggling, on the other hand, talking about money was useless and only creates more stress. Hence, parents were reluctant to expose their children to that burden. Today, the taboo still exists among us. Whether it’s with your family[…]

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