Valentine’s Day is regarded as a romantic but expensive occasion by most couples, and this is mostly due to retail companies jacking up their prices during the celebration. As soon as February starts, one can expect the costs of flowers, chocolate arrangements and dinner plan to be more expensive than usual. With that said, you do not need to burn a hole in your wallet to celebrate the occasion well. It is possible to have an enjoyable, budget friendly Valentine’s Day with these following tips. 1. Cook The Meal There’s nothing more attractive to a woman than a man who[…]

Myth #1: Financial planning is only for the rich Misconception The general perception of having financial planning is that it is for the wealthy. The middle class and the poor do not have the surplus or the allocation in their financial state to think about financial planning and savings due to their circumstances. A person who is living from paycheck to paycheck would have to think about stretching what little income they have into paying bills and surviving from month to month. The thought about financial planning would not be their priority. Most low-income earners are mindful of the fact[…]

A couple of months ago, someone asked this question on one of the Personal Finance groups on social media, “Do you need money to be good with money?” And it made me think… Do I really need money to be good with money? Or should it be the other way round? Is it because I have no money, therefore I should learn to be good with money? Could it be, because I have money and therefore I know how make even more money? Or maybe because I don’t have money, and therefore I am bad with money. OR is this[…]

I grew up in a middle-class income family. Money was certainly not something my mother would coin as easy. If there’s anything I remember about money as a child, it would be her favourite phrase – “You think money grow on trees ah??” in a typical Asian mum fashion. With two working parents, we had enough growing up. It wasn’t luxurious, but we weren’t entirely deprived either. There were enough to eat, we had a decent roof over our heads and the privilege of going to school. There were occasions where my parents gave in when I relentlessly wanted something,[…]

Have you ever sat down and wondered, how are insurance quotes calculated? Perhaps you had a discussion with a friend and discovered that their life insurance quote is lower than yours even though their policy covers the exact same thing yours does. You’re confused. Are there certain aspects in your life that resulted in such high insurance quotes? Knowing what goes into the cost of life insurance is valuable information. This little bit of knowledge could help you understand how life insurance quotes work and give you insight into some factors that could save you more money down the line.[…]

Overspending. Why do people still do it, if it’s so detrimental to our financial health? Could it be that temporary high, that euphoric moment and the rush of adrenaline? How many of us are familiar with these feelings whenever we purchase something? But oops, bummer. It all dies down the moment the parcel arrives. That 3rd bag goes into the closet – never seeing daylight again, and you convince yourself you’ll need it – “just in case”. Is this behaviour more common than we think? A study done in 2014 shows that we make 40-80% of our purchases on impulse,[…]

Investment-linked products – what are the pros and cons? Is it true that consumers get the best of both worlds by having their life insurance coverage and investments managed for them? Or, is it better to invest separately and stick to regular life insurance? As consumers, we have to consider the pros and cons before committing to a plan. Before we delve deeper, we have to first understand what are investment-linked products or in short, ILPs. Investment-linked products are the hybrid of life insurance and investment plan. In other words, it means you’re protected under insurance coverage, and at the[…]

We each have a certain set of beliefs or attitudes towards a lot of things in life – politics, sports, religion, education, and even money. Your money attitude is how you shape your beliefs about money; what it means to you, and what it represents. How do you feel about money – are you greedy about it or are you bitter? And how much does money influence your non-financial decisions? Money attitude is your way of thinking about money If you’re a little unsure about your money attitude, we have just the exercise for you. Find a secluded spot and[…]

We, as social beings, are obsessed with personality tests. We enjoy reading in depth analysis of our character, seeking advice on how we should handle certain aspects of our life like relationships and career, and to see that we’re not alone in this wide world. Personality tests help most of us navigate through life smoothly as well as help aid us in our character growth.  This applies to financial personalities, as well. Financial personalities is as self explanatory in its title. It’s how your personality traits affect how you manage your finances, your beliefs about money, and your financial goals.[…]

Scams and Malaysia. As the years go by, scams are become more sophisticated, subtle and smarter since the ones responsible often combine new technology with old tricks to get people to send money or give out personal information. It is unfortunate that a lot of Malaysians are falling for it, as discovered by Telenor Group in 2016.  To help prevent future scams, we’ve provided the guidelines on how to spot these red flags, what to do to prevent falling for their schemes and actions to be taken if you become a victim.  The Basics: What is a Scam? A scam[…]