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Day: April 14, 2023

ABCs of Personal Finance

Business Owner / HR? Do Payroll, Go

The first time I met the Founder of Effon was maybe 8 years ago. I could not remember the exact year but it does not really matter. I remember these though in that meeting. He has a vision. He speaks fast. He tells you what he wanted to do very enthusiastically. He listens, analyses and quickly puts in plan if that’s what was needed. Most importantly, he is really conscious of managing costs so that the company could keep growing with limited funds. This is how he has managed to grow to become a typical payroll software many SMEs know and use today. If you are NOT yet using this Online Payroll System, it’s best you quickly contact them and try it out. Trying for free is FREE. (click here)

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Financial news: Only 19% EPF contributors have sufficient savings to live above poverty line after retirement

If we take these two and we combine the info, then RM2,208 divided by 4 persons meant that this household has RM552 per person in the household. Fortunately it’s a household, so whether rental / home loan repayment is just one person and not all. Meanwhile cooking at home will lessen some of the burden versus eating outside. Nevertheless, it’s not a good life and Statistics Department classified any household with RM2,208 as living under poverty line.

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a wallet and white ceramic mug filled with coffee on a table
ABCs of Personal Finance

Personal Finance 101: 4 Pillars for Financial Success

There are no universally agreed definition of financial success. Suffice to say, financial success for someone may be that his debts are under control and that his networth is positive (total assets minus total debts). It could also mean that every year, his wealth is growing faster than his debts. In other words, financial success can be achieved by anyone and it’s very different from becoming a billionaire for example.

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