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Category: ABCs of Personal Finance

man showing distress
ABCs of Personal Finance

What Happens If You Die Without a Will in Malaysia?

I was the chairperson for another full-house event by Comfori. It’s their “Malaysia Property Law Conference 2024.” (image below) I learnt a lot from the speakers and one particular speaker’s topic stands out as something that I really think couples should do in advance, especially if we already have children. As I listen to some of horror stories, I think many of these could be avoided if we have written a will. No one could predict unforeseen circumstances.

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man in black button up shirt holding smartphone
ABCs of Personal Finance

Too much debts! Ticking time bomb for Malaysia.

It’s important to note that even if we are able to pay our home loans on time, our car loans on time, our Buy Now Pay Later on time, it may not be true for everyone else. Some may struggle to pay home loans on time, car loans on time and some pay just one time for their BNPL scheme. The reason? They already have many other BNPLs which they were also paying before they signed up for this latest one.

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group of people watching on laptop
ABCs of Personal Finance

So many news about T15. Who are they, really?

This is the news article: focusmalaysia.com This is the statement inside the article: “THE ultra-wealthy group, or T15, with household incomes exceeding RM13,000, is expected to no longer receive the RON95 fuel subsidy.” Additionally, it is estimated that only 3% of the population, or nearly one million people, fall into the T15 group. Full article here: focusmalaysia.com

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gold bar lot
ABCs of Personal Finance

Opportunity to buy gold at a super heavy discount? Who is the seller?

If I am offered something at a heavy discount, I would ask why is the item on offer. Perhaps it’s the perfume, they always give big discounts when the expiration is 12 months away. Perhaps it is the leather shoe, they always give discounts because unless the shoe was super well taken care of, it has a lifespan and they better let it go before cracks happen. Perhaps it is last year’ car. You will get good discount if you buy a 2024 model in 2025. I mean there’s a REAL reason for something to be discounted.

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a woman in plaid blazer using her laptop and mobile phone
Career Related

Can you ask for a higher pay or you need someone to ask on your behalf?

Every now and then some of my friends would tell me that their employers are treating them badly. Chief reason is the employer does not wish to pay them good salaries. When I asked them why are they still working there if they feel that the employer is not treating them right? Some said they are still happy there, some say they could not find another role giving them the pay want and some say that other potential employers are also offering a similar pay and thus not worth for them to resign.

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quote box ontop of stack of paper bills
ABCs of Personal Finance

Five more taxes coming. One of it to make us stay healthy… Savvy?

We could not run away from taxes. Well, unless of course we have a business and we could afford experts to help us navigate so that we pay exactly only on the ones we have no way to escape from. Else we have to be experts in navigating through things which has taxes and stay away from them! How do we stay away?

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close up photo of golden rings
ABCs of Personal Finance

Gold is coming back… Ready to grab some and how high could it go?

Sometimes they say US$ is a safe haven when there are uncertainties since this is the largest reserve currency in the world. We just need to understand that when it comes to value of money, it’s a perception. However, there is one metal which always do well when it comes to uncertainties. That metal is GOLD. With the current wars happening in Middle East, it seems that people are again looking at gold as a safe haven for their assets. Thus, the gold price has been moving upwards and is in very active trade currently.

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commercial airplane maintenance at sunset
Career Related

Higher pay is always more attractive. This industry has a huge shortage…

Would you like to know which industry or which role has a huge shortage? Rule of economics, when there is a shortage of supply, prices would go up because there are just not enough and thus the supply would go to the part who is willing to pay highest first. Thus, when there is a shortage of talents for one particular industry, it’s likely that the people working in this industry will be paid higher than others and thus, it is attractive to enter. Which one is that? Read on.

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red volkswagen beetle parked at road side near pedestrian lane
ABCs of Personal Finance

The longer we keep that car, the more money we have, correct?

How long do you drive your car before you trade it in for a new car? Perhaps it’s after the car loan ends? Maybe between 7-9 years? My ex Japanese boss used to marvel at me when he saw my speedometer showed 6 figures. He says, that’s unlikely to happen in Japan. Of course, it’s also because in Japan, he stayed in a city which is 200km away from Tokyo and took the bullet train to work, thus, he does not drive to work daily. Yes, he travels close to 450km daily just to go to work in Tokyo from his city! Daily! 🙂

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gold colored diamond engagement ring
ABCs of Personal Finance

Getting a wife and earning money at the same time. Wow. Illegal though…

I have friends with non-Malaysian wives. I also have friends with non-Malaysian husbands. I think it’s perfectly fine because love conquers all mah. Okay, honestly, many would also speak of stories where the marriage is for money because the other half could be from a billionaire family. I am very sure not all of these stories are real and some are just because people are jealous. I have very wealthy friends who are humble and I have ‘not-so-rich’ friends who continue to pretend and definitely not humble.

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diverse teenager friends in colorful clothes
ABCs of Personal Finance

With current property prices, can future generation afford a property?

There are always news saying that the next generation may not be able to afford their own property. Maybe one reason is also because people are getting married later, so their partner could not help in the mortgage payment until much later. I was fortunate as my wife was working when we bought our first property together.

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