As someone who keeps gold and regularly checks the price, I thought I’d cover the gold price movement in the last decade. Here’s what happened to gold prices between 2008 until mid-2018. Think of this article as an explanation of the 10-year historical gold price chart below.
For the benefit of this article, I’ll use price of gold per gram, not per kilo. Most people track the price that way anyway (unless they’re from the US, in which case they use ounces).
If you’re keen to collect something, why not collect gold coins and gold bars? They tend to appreciate in value in the long run. If you get bored of your collection or need money, you can resell it and get back what you paid (and perhaps more than that). You can’t say the same for most other collections.
In this collaboration post with buysilvermalaysia.com (which actually sells a lot of gold too despite the name), we would like to share some interesting gold coin and gold bar designs for your visual pleasure. Your inner pirate will appreciate this.
A great list of money-making ideas. Some of them are not applicable to us Malaysians (do we even have mock jury duty jobs?), but most of them are possible.
I have personally done at least 11 of the ideas in the list, and in the process of doing one more – publish an (e-)book (the update). How many have you done, and what are you planning to do next to get more money?
Want to know a secret? Everyone makes mistakes during our investment journey. Sometimes we pay too much in fees because we didn’t know better, sometimes we try to time the market and it didn’t work, and sometimes we trust the wrong people and get sucked into some shady Ponzi scheme.
I made plenty of mistakes myself, like the many, many times I tried to time the market but it went on the opposite direction (WHEN WILL I LEARN?!?). But this article is NOT about those kinds of mistakes. I don’t mean losing money when the market is not in your favour. Fluctuations in price and value is normal and even expected for some types of investments, like properties, gold/precious metals, things like that.
This article is about the times where I lost ALL of the money in the investment. Here they are, compiled in one post.
I spent RM21,407 in October 2018. It sounds like a lot (it is), but almost three-quarters of that was a gift to my parents. I’m sponsoring their umrah trip.
When I was growing up, I heard how my parents – then newlyweds and financially struggling – saved a portion of their salaries every month. They told me the bottom of their car had a hole in it, and they didn’t even buy a bed until much later and simply slept on a thin mattress on the floor. They saved aggressively so my dad could afford to send his mom, my late grandmother, to hajj.
My parents have already completed the hajj, but they constantly talk about going back to Mecca so sponsoring their trip has always been in my bucket list. In October 2018, I transferred over RM15,580 so both of them could go for their umrah next year, in January 2019, under Tabung Haji. My mom was so touched, she cried. I feel happy knowing that my money can give them this kind of happiness.
What do you save up for your parents? Is there something you know for sure they’ll appreciate?
First off, I want to say that most players in the financial ecosystem are important*. Not even going to deny it. Like banks for example – they provide tons of job opportunities, safekeeping of funds, access to financial services and overall contribution to the country’s financial health.
*most are important except the Ponzi people and other scammers. I pray they will miss all the connection flights in their lifetime
But let’s go beyond the friendly, approachable image the financial industry like to portray to the world. Here are 4 things you should know about the financial ecosystem we live in.
#1 – Banks use the money you deposit to make more money