You watched Squid Game, I watched Squid Game, all of us were morbidly fascinated by the scenes and storyline.
It’s bleak, but the desperate-due-to-debt thing is real, according to actual South Koreans. One of the respondents in the article said he considers himself lucky that he manages to keep his debt under $50,000.
I can’t help but to compare to Malaysia, and wonder if the same thing will happen to us..
Management consulting firm McKinsey estimated earlier this year that the “global wellness market” is worth a whopping $1.5 trillion, with annual growth of 5 to 10 percent. As your social media feeds tell you, wellness has turned into products to be consumed. When did wellness become all about buying more things? How did it become so wasteful?
They make you think that their items are expensive because of quality. That may be true (and maybe not), but its also expensive because they refuse to sell it for cheap.
In fact, it is common practice for these ‘luxury’ companies to destroy unsold products rather than reduce their price. They would rather their products be bought by the rich (or the pretend rich), or not at all.
Have to maintain that ‘not everyone can afford this’ image, right.
Solution Switch: Show that your product is the answer to their problems.
Trust Switch: Become an authority figure
Likability Switch: Befriend your customer
Evidence Switch: Customers need proof, not promises
Generally speaking, I dislike marketing strategies that intentionally seek to manipulate their customers into buying their products. The only way to combat this is to learn about their tactics yourself, so you can make an informed decision before hitting that Buy Now button.
If you have a lot of ‘stuff’ and not a lot of capital, the most suitable passive income strategy for you is #2. You can rent out your car, room, parking space, machinery, entertainment equipment and more Learn more and see other ways to earn passive income in the article.
10) How Are Malaysians Doing Financially? | iMoney x Suraya (Ringgit Oh Ringgit) – AIA
Thank you AIA for having me in this chat, where Farhan from iMoney and I discussed the findings of the Malaysian Financial Health Survey 2021. Unsurprisingly, it could be better – while 86% of respondents reported saving and investing every month, only 50% can survive less than 3 months with no income, while 12% cannot survive for more than a month without an income!
I was happy to be able to give my 2 cents here: individuals are usually blamed for not saving enough money (‘no willpower’), when the bigger issue is more structural in nature (the economy, job opportunities, consumerism culture, etc)
Watch the 20+min video for ACTUAL solutions you can use to improve your financial life below.