link roundup
Link Roundup

Link Roundup #65: 10 Things to Know This Week

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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. The psychological difference between spenders and savers (and what your habits say about your personality) – CNBC

Does any of these sentences apply to you?

  • Spending money stresses you
  • You love shopping an spending
  • You’re frugal and strict about saving

If yes, you might want to click the link above and find out what the psychologist and founder of the Financial Psychology Institute have to say about your personality.

2. Expenses Tracking: 3 Reasons Why It Improves My Finance –

I *swear by* expense tracking (it’s my budgeting style), but Marcus took it to another level – he custom-made an expense tracker. And generously, he’s giving it away as a freebie!

I mean, look at it, this is just some snippets – doesn’t the visualisation looks awesome?! Respect ah.

3. You Don’t Have to Work on Yourself Forever – Vice

A fixation on being the peak versions of ourselves—emotionally, physically, spiritually—is now an ingrained part of daily life. What would happen if you stopped?
I.. I felt this to my core. It’s hard to be present in the moment when one is on a constant state of ‘searching’ for further improvement. By many measures, I am already doing well, so why the unnecessary pressure to be ‘better’?

4. 4 Ways to Stop Attracting People Who Can’t Afford Your Services – Entrepreneur

I have a love/hate relationship with these types of articles.

On one hand, yes they’re right, it really boils down to personal branding, offering a catered solution, identifying a specific target audience and reaching them via well-executed marketing plan.

On the other hand, the huge and existing wealth gap means that the ones who need high-paying clients have the least overlapping identities with their desired target audience. In the end, people buy from those who are similar to them, and those tend to be the ones from the same socio-economic background.

I’ll file this under ‘no one said life is fair; just make the best with what you have’.

5. Rich As I Say, Not As I Do – Of Dollars and Data

personal finance is one of the few industries where you can look successful without knowing what you are talking about.  You can be rich and not know a thing about money management.

I agree with this statement so hard. We as a society really did normalise looking rich as an indicator of being rich, didn’t we? And we also tend to take financial advice from people who ‘look’ rich, even if we don’t know the actual source of their income (selling advice, money game, lottery, inheritance, etc etc)

Putting worth and giving status to someone because they ‘look rich’ is so toxic, especially if they are people who we genuinely look up to, like an entrepreneur or likeable public figure. We want to copy them, in the hopes of becoming similar to them.

This leads to the ‘damned if you do, damned if you don’t’ situation. If you do try to copy them, you’ll get into debt. If you don’t and (rightly) tell yourself to limit aspirational purchases, you’ll live in a constant state of self-denial.

Related read: You have to know all or most possible ways people get money – read the Where Do People Get the Money to Afford Their Amazing Lifestyles? article.

6. #SaveMoneyWithHann: A Personal Finance Q&A – RinggitPlus

I see Hann/RinggitPlus team have made his/their own version of Answering All 45 Questions from #Hann&Suraya: Personal Finance ChitChat (BNM/FEN Collab)!

#Hann&Suraya: Personal Finances ChitChat

7. Why Invest in Bitcoin [2020 Edition] – Mr Stingy

Doesn’t matter if you’re pro or anti-Bitcoin (or even neutral about it). Recommended reading if just to learn about the following theories and concepts, using bitcoin as an example:

  • asymmetric risk
  • inflation hedge
  • currency devaluation
  • asset diversification
  • Sharpe ratio
  • valuation methods

8. [SPONSORED] 5 Fascinating Facts about Takaful/Insurance Industry (#1 is ❤️) – RinggitOhRinggit

The facts:

  1. More married people take up Takaful/insurance as compared to singles
  2. If you have a medical card, your contribution WILL increase
  3. The 7 most fumbled/ misused/ misunderstood term in the industry
  4. 50% of Participants (Certificate Owners) didn’t do nomination (?!)
  5. Using Takaful / Insurance as Retirement and Legacy Planning

Click here to read the full version, as shared by the people who work in the industry themselves – the Great Eastern Takaful team.

9. 7 Tricky Work Situations, and How to Respond to Them – Harvard Business Review

The tricky work situations:

  1.  Someone takes credit for your idea.
  2. You’re asked to stay late when you’re about to leave the office for a personal obligation.
  3. In a pivotal situation, a trusted colleague snaps at you.
  4. You have to say “no.”
  5. You have to give negative or awkward feedback to someone you’re close with.
  6. You need to push back on a decision you believe is wrong.
  7. You need to escalate a serious issue.

Find out what you should say and why it works in the article. It’s a good one.

10. 7 Insane Life & Money Lessons I Learned From Emily In Paris – The Financial Diet

Chelsea Fagan’s ability to articulate personal finance lessons using pop culture as an example is forever something I aspire to work towards to. Such an enjoyable video to watch!

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.

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