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Category: ABCs of Personal Finance

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ABCs of Personal Finance

Personal Finance 101: You bought the car because it has HIGH resale value?

Someone told me some brands of car have a higher resale value. He mentioned that Japanese branded ones are better than the Continental brands. I think he is right. We just need to note that most buyers of these continental brands did not buy them for higher resale value. They bought those cars because when they drive it, they could feel it being more stable, maybe. They bought the cars simply because it has a premium image to it versus others which could have a reliability image instead. However… we should not be buying a car based on higher resale value.

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man leaning on a railing reading a book
ABCs of Personal Finance

PTPTN. When we owe someone money, we MUST pay or be “encouraged’ to pay it back

If I take up a home loan and I did not pay on time, the bank is very likely to take further actions including even auctioning off my home to get back the money to pay for the loans. If I did not pay my credit card debts, at the end of the day, I may be declared a bankrupt by the financial institution. If I borrow money from my friend, I better repay the debt or I may lose this friendship and also all our common friends since this friend will tell everyone else that I did not pay back the borrowing.

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shallow focus photography of keys
ABCs of Personal Finance

Personal Finance 101: We should aim at minimum RM600,000 if our intention is not to own any property

These days, there are many personal finance experts in the market. Some do video, some write and somehow for many of them, their advice is always to skip property investment. Erm… Let me tell you this fact yeah. If someone says they are a personal finance expert and are giving personal finance advice about all other investments except for property investment, then it’s important to note the numbers below which will without any doubt affect anyone without a property of their own.

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woman wearing white top drinking beverage from white ceramic mug while lying on sofa inside well lit room
ABCs of Personal Finance

Are we living comfortably? Look at Median Age, Median Income, Median Rental.

This is why if we like to understand if people are living comfortably, do not look at just the average income and then converting that into some other currency (Like from SGD to RM) and then laughing at the country where the currency is weaker. The fact is that average income would include the income of a senior manager and a cleaner and averaging them both tells nothing about both of their lifestyle and comfort. So, our focus is median income.

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ABCs of Personal Finance

Property Investment 101: Calculating the ROI on your property investment when you sell

I was happily listening to YouTube music for free when an ad with a PAID video started and it was someone sharing why we should invest into the stock market and avoid property investment. He (the person in the video whom I do not know who) said property investment return is low and it’s also slow and thus when we think of property, it should just be for own stay purpose.

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man laid back on a couch holding a smartphone and card
ABCs of Personal Finance

Fresh graduates should not have a credit card?!

Actually, my long time friend told me many years ago that when we graduate, it is highly likely that we would not be able to save much for the first few years. He is partially right. If we are in a low paying job, chances are we would not be able to save much and worse thing is, the banks will approve a credit card to us and this helped to push us even deeper into debt. How to have savings, right?

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woman jumping wearing green backpack
ABCs of Personal Finance

Twin-WOW. Self-contribution is high, EPF dividend is high.

In my WhatsApp group, this was posted. I meant the image below showing EPF dividends over many years. I think the whole Malaysia, especially all the working people already know this happy news. When analysts say it is going to be higher than 6 percent for FY 2024, I already feel that it’s going to be over 6 percent. Final result? 6.3 percent. Below is the file shared in the WhatsApp group.

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two yellow flowers surrounded by rocks
EPF

EPF’s dividend is going to be quite a wow it seems

This piece of news did not come from me. The prediction must come from some analyst with lots of data which he / she could refer to in order to make such a prediction. I do not have such resources. How high is high and what is considered a wow? Well, FD rates are probably 3.5 percent. The potential EPF dividend rate is forecasted to be over 75 percent higher! That’s definitely a wow and worthy of a celebration, right? We cannot take out the money before we retire but it’s still our money. The more the merrier.

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persons foot on brown wooden door
ABCs of Personal Finance

Ladies… perhaps a gift for your guy? (hoping my wife sees this too…)

Hands up, who has gone and ‘invested’ time, money and effort in video arcades when this was a trend? It was not as brightly-lit. Some of my favourite games include Samurai Showdown… My favourite character is Charlotte. Superspace Fortress Macross where I could go until the end with my partner in crime, Mr. V. Just need maybe RM1 at most. Haha. Yes, we were that good then.

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person holding white scroll
ABCs of Personal Finance

Personal Finance 101: Degree is necessary or just skip the degree?

Someone pointed out to me that if they study and complete a degree, their starting pay may be just RM2,500. Maybe lower if the company somehow believes that they can still get great people by paying lower and maybe higher if the company has good margins and wants to attract quality applicants to propel the business growth higher.

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a sick girl wiping her nose with tissue
ABCs of Personal Finance

Private investigator checking if your sick leave is real?

When I read this news, I thought this must be some online humor. Then again, it’s not April Fool’s Day yet. So, I went to google and below are all the different media links to this piece of actual and real news. Briefly, there are companies who do not believe their employees are really sick, so they hired private investigators to check out these cases of employees taking medical leave. Are you worried now every time you apply for sick leave? Better stay home and not go anywhere yeah.

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shallow focus photography of brown wooden handheld baskets
ABCs of Personal Finance

Save on dining out and go travel to Japan? Here’s the possibility.

Recently, there was a report which was everywhere saying that Malaysians spend RM1,200 per month on dining out. So, I calculated what I spend and well… it’s quite true! Haha. Why do I say so? Plus what happens if we could save 50 percent of what we spend on food every day for just one year? Yes, travel to Japan!

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