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Category: ABCs of Personal Finance

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ABCs of Personal Finance

Financial news: Countries with decreased housing prices. Does this mean it’s easier for the people to buy a property?

It’s quite funny, really. When we think prices are moving up, we buy. It does not matter who made us think so. We may also not have any idea if we are already buying at the peak but it will only matter later. The worry is not being able to get anything if we do not buy now. I have friends who bought into the craze of a certain area many years ago and until today, that same little unit is still not fetching the rental which she thought she would. Perhaps just need to wait a little longer.

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ABCs of Personal Finance

Personal Finance 101: Property Investment is no longer necessary

Someone shared that investing into the stock market is easy. He showed many success stories. Someone shared that his crypto-currency is starting to show positive signs again. Someone shared that when it comes to the current situation, it’s best to rent because we could save more money versus buying a property. Renting may be RM2,000 but paying repayment for the same property could be 50 percent higher, or at least 20 or 30 percent higher. Everyone has their say because they may have achieved something positive and thus they are sharing what they know. I just like to ask three easy to answer questions.

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ABCs of Personal Finance

Business Owner / HR? Do Payroll, Go Kakitangan.com

The first time I met the Founder of kakitangan.com 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 kakitangan.com 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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close up of man holding coins in hand
EPF

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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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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paying in a counter using a bank card
Career Related

How’s your salary increment? These employees will get up to 18 pct salary adjustment!

Many friends are working in the banking sector. One in particular has worked in the same bank for over 15 years I believe. She said that when she started, she had 25 peers. Today, she had just around 10. As you can see the banks are also changing tremendously. Online banking growth meant fewer people would be going to the bank. In other words, banks do not need so many people, they also do not need so many branches and last but not least, if they want to thrive, they have to go online and be inside everyone’s smartphone.

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high rise buildings of kuala lumpur
ABCs of Personal Finance

Financial news: S&P Global comments on Malaysian banks amidst tougher conditions in 2023

A friend asked me what will happen to Malaysian bank if even the 16th largest bank in the US, SVP Bank could collapse. I smiled and said that it’s best to look at them separately. There are many reasons why SVP Bank collapsed. The reasons are not present with Malaysian banks. Read here for the earlier article: Moody’s downgraded the US banking system outlook I shall not comment further about Malaysian banks. We look at the comments by S&P Global instead.

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woman in pink dress using laptop computer
Career Related

Act your wage. Earn this much, do this much. Oh…

Act Your Wage says that we should just do as much as what we are paid for. If we are paid to write articles, do not also agree to do some work under the marketing team in the company. Never volunteer for additional work because we are not paid for it. If we are hired to be a finance executive, do not go and join other departments in some recreation projects which will inevitably take away our time from the official work which we were hired for. Is Act Your Wage a correct way to think about work? Read more first. My comments later.

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woman driving a new audi car
ABCs of Personal Finance

Financial News: Car buyers get better deal with abolishment of Rule of 78 (if and when it happens)

” The Rule of 78 is a method used by some lenders to calculate interest charges on a loan. The Rule of 78 requires the borrower to pay a greater portion of interest in the earlier part of a loan cycle, which decreases the potential savings for the borrower in paying off their loan. Do read the full defintion and more explanation here at investopedia.com “

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cash coins money pattern
ABCs of Personal Finance

Financial News: When EPF savings are ‘finished’ 19 years too early

If you have been reading kopiandproperty.com for some time, you may notice that I usually use 15 years as a benchmark for the years we will need money for post-retirement. I always assume we would work until 60 and then live to 75 years old. That’s 15 years post-retirement where our funds, whether inside the EPF or in our bank accounts or even in the form of properties should be enough to cover our expenses when our income has stopped. Now, let’s look at some numbers. Real ones as at currently. One major cause is definitely Covid-19. Fortunately it has passed the most dangerous stage, I hope.

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ABCs of Personal Finance

Personal Finance 101: PN17 companies. Why, What and Who Questions.

What is PN17 company? PN17 stands for Practice Note 17/2005 and is issued by Bursa Malaysia; relating to companies that are in financial distress. Companies that fall within the definition of PN17 will need to submit their proposal to the Approving Authority to restructure and revive the company in order to maintain the listing status.

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