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Category: ABCs of Personal Finance

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ABCs of Personal Finance

3.88 pct profit rate per annum sounds good, right?

Have you signed up for any digital banks yet? We have three choices already. Which one is your favorite?

My aunt was telling me that she’s getting 3 percent returns for her savings in GXBank. She was encouraging me to also open one account too. Look at the image below. This is a pretty good rate since our typical normal savings in the bank if it’s not under fixed deposit will get lower than 1 percent. GXBank was the first digital bank to start operating in Malaysia and it’s a subsidiary of GXS Bank (a joint venture between Grab Holdings and Singtel) and consortium partners such as Kuok Group.

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ABCs of Personal Finance

Personal Finance 101: If we get retrenched, are we prepared and ready?

If we look at the world we live in today, disruptions are happening every day. Companies learnt that the way they used to operate may have to change and they will have to adapt. In this process of new change, many changes will happen. This includes creation of new roles which is critical and also the reduction of old roles which is no longer needed.

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ABCs of Personal Finance

Forex investment with a 2 percent return every month?

Dear kopiandproperty.com readers, I want to tell you again. If the returns from an investment can be as good as 1 percent per month, that’s 12 percent per year. If the returns really can be as lucrative as 12 percent per annum, where do you think all our banks, many of our listed companies with extra cash reserves and maybe even our Employees Provident Fund (EPF) would invest their money?

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ABCs of Personal Finance

Do you know which generation saves the most money?

I think I am able to save some money every month. However, I should try to save more and stop buying too many things which I may not need. I have fully paid for my car around 9 years ago and my wife’s car around 3 years ago. So, for now, we do not pay a single sen for car installment. I intend to maintain this for as long as I could even though I am also planning to buy replace my car’s wife next year. I already informed her, so I think this will proceed. In order to do that successfully, I need to save more before then. What about you? Which generation are you and do you save enough money?

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emergency signage
ABCs of Personal Finance

4 Tips On Building Up an Emergency Fund

Do you have any emergency fund which is ready and could be utilized anytime needed? Nope, emergency fund is not our credit card. The interest is far too high for it to become an emergency fund and it will just cause the whole situation to become worse. Usually. people say at minimum, 3 months of salary amount should be kept in the bank as our emergency fund. Some however declared that 6 months would be a better number since 3 months may not be enough to find a new job.

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gold bar lot
ABCs of Personal Finance

Why is gold price rising when interest rates are decreasing?

People used to say that when the interest rates are lowered because it wants to encourage growth, it will also cause people to take out their money from the bank and perhaps investing into other financial instruments to earn dividends. Some of these people may invest into gold and this will push up the demand, thus pushing up the price of the gold too. Is this true?

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ABCs of Personal Finance

Private sector (profitable ones) should give higher salaries

It’s good news for the civil service as announced by PM Anwar Ibrahim recently. Double-digit salary increase was announced. Here’s that latest article:

Higher Salary Means More Money for Spending! (click to read)

After increasing the salary of the civil servants, there is now an advice to the private sector to follow too. I wonder what would be the response from the private sector since there is now an advice. Do read on:

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EPF

EPF’s distributable income gives me a smiling face

EPF has a total of over 8.6 million ACTIVE members and this includes me. So, anything positive about EPF is something positive for me and all the active members too. I mean if the member is inactive but they have funds in the EPF, they will be happy too since they will also be receiving higher dividends when the EPF is doing well. Last year was a good year and this year it seems that things are even better too. Let’s read on to understand what is happening in the first half of 2024 where incomes are concerned. Good news!

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silver sedan parked in parking lot
ABCs of Personal Finance

When parking rate is more expensive than the hourly pay, one would have to work harder

I have always loved to note down the parking rates in the different countries I visit. For example, it’s as high as AUD12 per half an hour in Sydney that I have seen. Thus, I think many would be tempted to just take the public transport instead. Else, one would have to earn a lot more just to cover the parking rate charges every day. Imagine working whole day for RM100 and then having to pay RM48 for parking in some malls where you work? Crazy isn’t it?

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beige concrete house under cumulus cloud
ABCs of Personal Finance

Property Investment 101: 5 things NOT to do for property investment

Overpriced property is always in the market. Somehow some of these overpriced properties could still continue to rise in price because people just love to buy them. I say overpriced because the rental could NOT even cover the interest payment for the repayment yeah. I also do not personally think we should calculate yield based on constructing additional rooms. In other words, if we need to build additional rooms in order to get a positive yield, then this property is overpriced. Find the ones which you have compared, benchmarked and know that the price is okay.

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Career Related

RM5,000 – RM6,000 for a fresh engineering graduate? Definitely a wow.

Well, many companies will lose their best freshly joined engineering graduate to the company which is offering RM5,000 – RM6,000 yeah. Then again, not everyone would fit into the requirements for the RM5,000 – RM6,000 role. Usually, these roles would be in research and development because the result from their work could be used to help the company earn a lot more money. This is different from a quality engineer who is focused on cost efficiency. Savings is great but earning a higher profit is the only way one will have a higher pay yeah.

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word win made with dice
ABCs of Personal Finance

If I win RM23 million, what would I do?

Do you buy Toto? If you are, all the best to you okay. With my wish, if you win, please treat me coffee and cakes.

As for me, I do not buy Toto 4D regularly. I buy only when there are some significant events. So, maybe one year I would probably buy 2 times, at most. If I remember very correctly, I won once thus far. Something like RM250 or whatever small amount. I also usually just buy RM5 just for fun. So, the following news about RM23 million will never happen to me. Haha. So, what would I do if I won RM23 million? Let’s read the news first.

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