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. 10 Risky Investments to Avoid… Unless You Can Afford to Lose Everything – The Penny Hoarder
This is a great list of risky investments. Part of the investing process is not just learning what to do, but also what not to do before you have enough knowledge and financial safety net.
Initially I didn’t agree with Gold/Silver (no #9), although yes they do have a point. Keeping them as coin collection or jewellery CAN be dangerous – you’re one robbery away from losing it all.
2. Psychologists have finally figured out why your toxic colleagues climb to the top at work – Fast Co
TL;DR – they have better social skills than you.
I like this part of the article:
The researchers suggest that you too can help stop toxic career climbs (!). If you’re a manager, the trick is to pay attention to team performance (not just task performance), and to separate job performance from good impressions, particularly in jobs that involve attracting attention and interest, such as leadership and sales, where toxic personalities can thrive.
Apparently, in the world of Truly Rich, the ultimate status symbol is… being obscure. It is enough that their network knows who they are, not the general public.
4. 6 Unexpected Sources of Retirement Income – Fool.com
No #2 may not be applicable for Malaysians (or is it?), but I still find this listicle a good read. The sources of retirement income ASIDE from savings are:
- Your home
- Your life insurance
- Your closet or basement
- Your car
- Your skills
- Your hobbies
May we all never run into money problems in our old age, Amiiin. I can’t imagine being financially stressed at that age.
Weekly allowance. Such a simple but powerful concept, and worth experimenting with. I haven’t had an allowance in a while – the last time I had one, I was still in school!
To be clear, the weekly allowance in discussion here is not the same as your usual budgeting and expenses. This is purely for discretionary expenses, like dining out or shopping.
Anyone here give yourself an allowance? How do you like the system?
..the (big oil) industry sold the public on an idea it knew wouldn’t work — that the majority of plastic could be, and would be, recycled — all while making billions of dollars selling the world new plastic.
The PSAs encouraging us to recycle. The tri-coloured bins. The recycle logo on packaging. All making us feel like we are responsible consumers, when we’re not.
7. The case for never buying new clothes again– Fast Co
So you already know how fast fashion is really bad, both in encouraging slave labour and for the environment.
And you already know how the solution is (1) buying less new stuff, (2) wearing what you have for longer, and (3) buying used.
Here’s another thing you can do. Visible Mending. What is means:
This is more than darning a hole. It’s a protest movement and an art form and a fashion statement. To stitch or sport a VM is to declare independence from the sickness of consumer culture with a beautiful scar and a badge of honor: “Look, I kept this out of the landfill!”
Let’s all mend more 🙂
8. The trick I used to cut my grocery bill by $100 a week: buying mostly frozen – Business Insider
If you’re always throwing away fresh produce because they go bad before you have the chance to cook them, then maybe buying frozen is the answer.
Personally, I always keep frozen berries, crabstick and chapati in my freezer. Lately I’ve been buying frozen chicken breasts too. It’s been a good decision!
9. Bitcoin Q&A: How Can Bitcoin Holders Earn Passive Income?
Video blurb: For someone who is holding bitcoin, what are the options for putting that bitcoin to work and earning some passive income? Besides the first option of simply holding, how else can you put your bitcoin to use? From investing in businesses, to DeFi, Andreas walks through the risks and rewards of different options.
10. FinCEN files: Global banks moved US$2 trillion in illicit funds despite warnings, leaked documents said to show – Strait Times
Another year, another set of leaked documents that show how a different set of rules exist for the rich and corrupt. This time, we see suspicious activity reports (SARs).
Among the types of transactions highlighted by the report: funds processed by JPMorgan for potentially corrupt individuals and companies in Venezuela, Ukraine and Malaysia; money from a Ponzi scheme moving through HSBC; and money linked to a Ukrainian billionaire processed by Deutsche Bank.
To read past link roundups, please click here.