Accelerate your personal finance knowledge with this regular feature on Ringgit Oh Ringgit – the Link Roundup! I promise you’ll find these 10 links informational 🙂
A good summary of what you need to know about Pakatan Harapan’s #Budget2019 / #Belanjawan2019 announcement.
I like most things from Budget 2019, except:
- P2P lending as a way to finance housing. From what I’ve observed so far, P2P lending’s interest rates are pretty high, from 12-18%. Why would anyone want to finance their home ownership via P2P lending, when normal housing loans are just around 4%? Also, apparently investors make their money on the appreciation value of the property. That makes the borrower a ‘custodian’ of the property, instead of for their long-term housing solution? It just doesn’t make sense, but to be fair we haven’t seen the full guidelines of the implementation method yet. So let’s see, but until then I’m highly sceptical.
- Higher budget allocation for JAKIM. They got an additional RM100 million, from RM1.1 billion to RM1.2 billion. Sigh, expect more moral policing next year too I guess. Note: I’m not attacking Islam, I’m attacking Jakim. You can’t deny their actions give the religion a bad reputation, not only nationally but internationally as well.
A lot of people didn’t like the digital services tax. As a Spotify premium subscriber, this affects me too. But you know what? I’ll take the hit. First of all, I’m already paying lower because I’m in a family plan (related: 3 Ways to Get Cheaper Spotify Premium in Malaysia). Secondly, I’m just happy they didn’t increase the personal income tax, after it was lowered last year! This is pretty much the only ‘sacrifice’ I have to make, so OK la, no complaints!
What are YOUR thoughts on Budget 2019?
2. 5 Financial Personality Types That Affect Your Money Habits – I’m Funemployed
LOVE this article! She explained the different financial personality types pretty well, including the investing, spending and saving money styles. There are five main types: The Spender, The Hoarder, The No-Eye-See, The Lalang and The Calculative Bugger.
I can see that I have elements of the Calculative Bugger, the Hoarder and little bit of the Spender. Which type are you?
3. 5 Malaysians Earning More than US$100 on Patreon and What They are Doing to Make Money – Entrepreneur Campfire
I didn’t know there are Malaysians making money from Patreon! What a cool compilation!
In the article, there are 5 Malaysian content creators making more than $100 per month on Patreon, plus 6 more who make less than that (at the moment).
You know, ever since I’ve become a content creator myself, I’ve become a lot more open to paying for online content, which is something I always expected for free last time. I’m still stingy, so it’s a learning process, but I do contribute a (small) monthly amount to the Try Guys on Patreon.
Which content creator do you support and contribute money to? I’m not referring to media portals (although they count too), but more to individual or group content creators.
Agree with everything on the list, especially #9 – they are problem solvers, not complainers!
Look out for people at your workplace who show these behaviours. They’ll go far, mark my words.
5. These Tiny House Kits on Amazon Start at Only $4,690 – Apartment Therapy
Isn’t it amazing that you can now buy HOUSES on e-commerce platforms?? And some can be installed within a day!
If one day I get tired of living in the city, I’d do this: buy cheap land somewhere, install a house, and live/work from there.
It’s not an unattainable dream. We don’t have companies selling house kits yet in Malaysia (not that I know of), but Atiqah is currently in the process of building her Epic Home tiny house. You can check her updates here.
6. 3 Steps to Living Below Your Means – The Motley Fool
I’ve been overspending a lot recently and appreciate the reminders in this article. I HAVE to get around to automating my savings, dammit.
Any of you set up a ‘transfer and forget’ system? Where does it go to, and how much?
This is an interesting article – I’ve never thought of beauty as a form of unpaid labour. In this particular case, I see this movement as more of a reaction to South Korea’s extreme standards of beauty. I mean, over there they normalise plastic surgery what. Women spend a lot to be considered ‘attractive’, which they hoped will help them to get ahead in life. I understand why they’re angry when their money and efforts didn’t show the ROI they want.
After I read the article, I thought of beauty in relation to income. There’s evidence to believe that wearing makeup – or at least grooming – will help you earn more money. For that reason I do spend some amount of money on beauty products.
On the other hand, I read this article with the headline ‘very unattractive people earn significantly more money‘, and I’m confused again, back to square one.
In any case, I have no plans to expand my 5-10 minutes makeup routine. Am suddenly very thankful to Mom for passing me nice genes.
8. How You Duit: Blogger Edition – CompareHero
It’s so nice to be included in the list, thanks again CompareHero! I enjoyed answering the questions, and reading replies from other financial bloggers 🙂 Click the link to read the article.
This is super cool! I think financial incentives are great to promote sustainable energy projects! These will be implemented through two policies:
- Supply Agreement for Renewable Energy (SARE) programme. You can install solar panels in your homes with zero upfront cost, and monthly payments are done every month to TNB
- Net Energy Metering (NEM) mechanism. You can produce solar power to get better rebates from TNB .
At writing time, I can’t see much information about both policies yet, but those of you who are interested to lower your energy costs and be more environmentally conscious at the same time, look out for them!
10. Four Strategies to Help Small Business Increase Customer Retention – Entrepreneur
“According to the Harvard Business School, a minimum of 5% increment in customer retention rate increases profit by 95%. Meanwhile, acquiring a new customer is 25 times more expensive than retaining existing ones.”
That’s a damn good reason for you small business owners out there to focus on customer retention rather than pure customer acquisition only!
To read past link roundups, please click here.