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Earning your first salary is often an exciting moment. After years of being financially dependent on families or loans, getting your first big salary is incredibly exhilarating. You are no longer confined to waiting for others to provide you money since you make your own! If this is the first time you’ve ever gotten a salary then chances are, you can’t wait to spend it. Understandable. You’ve earned with it your own effort and hard work, so splurging on yourself or your loved ones is expected. However, the way you spend your first salary could also be a tell-tale mark[…]

Of all the necessities in our life, it’s safe to say we put a lot of priority on food. Food is essential – it fuels our energy and it helps that they’re delicious (most of the time, at least). We physically cannot live without food which is understandable why majority of us spend a lot on it. But, should we really overspend on food alone? According to research, Malaysians who earn minimum wage spend nearly 40 per cent of their salary on groceries. So, if the minimum wage in Malaysia is RM1,100, that means these people are spending almost RM400[…]

As a generation focused on living in the moment, millennials are prone to making big mistakes with their finances. We spend too much time on online shopping, streaming websites, viral restaurants etc. But no worries, because these are the money missteps this generation is making and here’s how to combat them! 1. Not Setting Up an Emergency Fund Life is often unpredictable which is why emergency funds are important! When unexpected situations occur – medical issues or a job loss – it is crucial that we have a fallback account to rely on as an extra measure. But millennials are[…]

Have you ever been in a situation where just last week, you had all the money in the world but today, your wallet is as empty as the day you bought it. Did you scratch your head, head shaking in confusion, wondering where on Earth did your money go? Have you ever been so frustrated in yourself because when will you ever learn how to manage your money properly? FEAR NOT! We have a solution for you and this solution is called JARS Money Management System, a 6 jars method! The 6 jars method requires you to split your income[…]

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[…]

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