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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[…]

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[…]

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[…]

Making mistakes is part and parcel of life. But a mistake associated with purchasing insurance is a mistake we cannot afford. Purchasing the wrong insurance policy with insufficient coverage or even overlapping coverage can hurt us financially in the long run. It will cost us precious time and money when it can be avoided altogether. Below is the list of common mistakes you could make when buying insurance. Let’s check them out. Not making any comparison Most of the time, people will avoid making comparisons for the insurance coverage that they’re going to purchase. It’s such a hassle they said. The[…]

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[…]

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[…]

Here’s the question. What do you think is the best investment for your money? For all it’s worth, you invest in all the different investment instruments known in the market. It ranges from conventional fixed deposit accounts to unit trusts, REITS and shares, to more recent tech-led investments such as robo-advisory and bitcoins. In fact, investors from all over the world are in pursuit of that investment which can give them a handsome and guaranteed return. Now, that’s a dream venture that most people are looking for, hence all the pump and dump schemes you see on the news. After[…]

Money and happiness. For most of us, we live in a make belief world of if-onlys. If only I had a better car, if only I can travel, if only I can afford better clothes…We believe that once we can afford these things, only then we can be genuinely satisfied with our lives. But is there a basis to such a belief? Researchers and experts have long debated and discussed the true factor to happiness. And along with it, is how happiness is related to money. It’s inevitable. In our society, money is important. We need money to eat. We[…]

How can you relate a soccer analogy with investments? Easy. You can relate it for your asset allocation.  Successful asset allocation accounts up to 91% of a person’s financial success. What is asset allocation? It’s basically how you put your asset strategically into the different asset classes. This way you can optimize your return and minimize your risk. Using the Soccer Analogy, we’ve broken down the best way for you to allocate your assets. Whether you’re a retail or enlightened investor, you definitely need to check this out! Retail Investor As a retail investor, your Goalkeeper is your insurance or[…]

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