Link Roundup #21: 10 Things to Know This Week

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 🙂

1. Malaysia Hits Deflation for First Time Since 2009 Global Crisis – Bloomberg 

The deflation IS JUST FOR JANUARY 2019. As someone on Ringgit Oh Ringgit FB rightfully pointed out, one month’s stats is not a trend made. Plus, the deflation only occurred because Transport category fell so much (-7.8%).

But still, while we’re on the topic, I wanted know if deflation is good or bad. Learning opportunity and all right. This short video is the easiest way to learn about the effect of deflation.

I hope this deflation trend doesn’t get out of hand.

2. My girlfriend and I spend less than $150 a month on groceries and eat at home 5 nights a week — here’s exactly what we buy – Business Insider

My monthly groceries bill is RM439.29 (on average, as per my 2018 expenses report). Assuming 25 meals per week or 100 per month (estimation), that’s RM4.40 per meal, on average.

Look, groceries is one aspect of my budget that I splurge a little bit on. I buy (mostly) good, healthy ingredients. I thought I can’t reduce the amount any more, not without downgrading my ingredients.

Not until I read this article. There are many great tips in this article, but one tip in particular jumped out. Guys, I think I can reduce my groceries bill by… removing breakfast. Call it intermittent fasting if you want, make it sound fancier a bit. It may even help with my weight management!

What do you do to eat well on a smaller groceries budget?

3. ‘Don’t feed the monster!’ The people who have stopped buying new clothes – The Guardian

You already know that fast fashion is bad for the environment. Nothing new there. Millennials are already leaving fast fashion in droves anyway. Many of you, myself included, now curate simpler, smaller, higher-quality wardrobes. Related: Save Money on Fashion: 5 Steps I Use to Optimise My Clothing Budget

But what if you really, really like clothes but absolutely refuse to buy new ones at all?

Of all the ideas in the article, I really like the community clothes exchange. Clothes swap parties should be a thing. It could even be a business idea! Think about it,  RM20 entry fee (covers venue cost, F&B etc) and participants can bring all of their unused-but-in-good-condition clothes to swap with other clothes. All leftover clothes can be kept for the next round. Good idea no?

4. 7 ways being single could help you save more money – Ladders

Sharing for the truth of #3 – You have more time to hustle. Yup singles do tend to have more time.

Unless, of course, if you and your partner with ways to work on money-making projects together?

5. So, You’re Retired but Don’t Have Enough Money to Be Retired. Now What? – Barron’s

I’ve always kinda assumed that people who don’t have enough money for retirement are people who neglected to work hard and make money during their careers.

That’s not the case. Sometimes, one could retire with a healthy sum but the retirement money simply dwindles at a faster rate than they thought..

The author of the article talks about the shame and humiliation that comes with downgrading her lifestyle, a decision she rationally (and rightfully) made to make her retirement money last.

Despite all we can do to prevent being in a similar situation, this might happen to you and me. All it takes is a stroke of bad luck. Remember that many scammers do target retirees, and their methods get more and more sophisticated by the day.

IF that happens, I can only hope that my downgraded lifestyle will still be able to bring me joy in my retirement years.

6. TIME FOR HAPPINESS: Why the pursuit of money isn’t bringing you joy — and what will – Harvard Business Review

Brilliant article originally shared on Mr Stingy’s FB page. Some amazing new concepts in here, like time affluence and time poverty. Briefly, someone who is time-poor find that they lack the time to do what they want to do each day. Instead, they do what they think they have to do to make themselves happy, which is work in exchange for money.

If you find that this describes your situation, click on the article, read it, and especially focus on the ‘how to start (reduce your time poverty)’ section.

7. 50 Ways to Live Life on Your Own Terms – Ladders

8.  I Lost Something In My Pursuit For Financial Independence – Elizabeth Tai

‘I have a confession to make.

In terms of money management, I’ve come really far. In 2008, I had a six-figure debt and was living paycheck to paycheck. I didn’t have enough savings to pay my bills for a month if I lost my job.

Now, I have enough to last a year (or two) without a paycheck. Back in 2008, my network was probably in the negative. Now, it’s positively positive.

It took a lot of sacrifice, grit and discipline to get where I am today.

But I think I lost something along the way.

I think I have lost the courage to live life the way I want.’

Love this article by Elizabeth, who bared her soul with us. Thanks for the transparency.

9. The Modern Trap of Turning Hobbies Into Hustles – ManRepeller

This article was shared by Nicole from I’m Funemployed’s FB page. After reading it, I felt better. I now feel like I’m ‘allowed’ to do something just for the sheer joy of it. I don’t have to monetise everything I enjoy doing.

10. Yes, You Can Make Money Playing Video Games. Here Are 7 Ways to Do It – The Penny Hoarder

That’s it for this round, catch you next time! Want to submit a link you thought was great? Reach out to me on FB or Twitter.

To read past link roundups, please click here.