The other day I was listing out all the financial tools that I personally use for money management in my notebook, and the list got kinda long.
That got me thinking – all of you must have your own money management system, right? Even if it’s in your head, even if it’s messy. You know, more or less, that the money in account X is for daily use and the money in account Y is earmarked for, say, retirement.
So here you go – an article compiling all the financial tools I use for my own money management. Please don’t @ me if any of them sucks for you – they’re just the best option for my situation right now – I’m not loyal to any of them and happy to switch to better solutions as and when it suits me. Also please don’t take anything here as investment advice.
The financial tools are arranged in this order:
International money transfers/payments
Other accounts with money inside it
Just to maintain some sort of neutrality, this article itself is free of referral links, but related articles and embedded social media posts may include links.
When I typed in ‘make money in Malaysia’, Google presented me with 570 million results.
570 million! In contrast, ‘invest money in Malaysia’ showed ‘only’ 37 million results!
So it’s obvious that many of you are interested in this topic. Many articles will give you good suggestions on how to make money – some gave part-time ideas, some gave side income ideas (what you can try), some gave ways to make money online, etcetera.
But none of them tells you what one person has tried in their personal capacity.
Here’s my attempt to do just that. Here’s everything I’ve ever done to make money in Malaysia (and beyond), from my childhood to now adulthood.
In November 2018, I attended a digital marketing bootcamp where I learned about the many types of martech tools. For example, chatbots which reply to people who type ‘pm’ in Facebook posts. Platforms connecting companies with influencers. Automated video creation tools. And more – I’m barely scratching the surface here.
Martech is fascinating to me for a few reasons:
It’s quite fun to go to a company’s website/platform and see what kind of martech tools they are implementing. Last time, they used to prioritise collecting emails. Now, I’ve received promotional updates via Facebook Messenger too! (I hate this btw, so invasive, any company that does this will not get my money)
Which martech tools can *I* use for my own websites? I’m constantly trying out new ones, hoping to find the perfect free+good combinations. Many martech services use subscription-based models, and they can get pretty pricey.
Learn about martech. If you’re a business, it’ll help you make/save money. If you’re a consumer, you’ll be more aware and therefore less susceptible to strategies companies use to part you with your money.
Want to know a secret? Everyone makes mistakes during our investment journey. Sometimes we pay too much in fees because we didn’t know better, sometimes we try to time the market and it didn’t work, and sometimes we trust the wrong people and get sucked into some shady Ponzi scheme.
I made plenty of mistakes myself, like the many, many times I tried to time the market but it went on the opposite direction (WHEN WILL I LEARN?!?). But this article is NOT about those kinds of mistakes. I don’t mean losing money when the market is not in your favour. Fluctuations in price and value is normal and even expected for some types of investments, like properties, gold/precious metals, things like that.
This article is about the times where I lost ALL of the money in the investment. Here they are, compiled in one post.
Good news for Selangor babies or long-term residents over 10 years tying the knot! What an interesting incentive!
FYI, they don’t give cash outright. They give something called the Sijil Simpanan Premium, which you can sell back or keep if you wish. But hey! As good as free money! Can recover your wedding expenses a bit, or go towards house down payment or baby funds.
Hands up if you follow Instagram influencers and bloggers who travel all the time. One day they’re in Paris, the next they’re in Greece, eating olives or whatever. So jelly, no?
Yeah, that lifestyle does look great. But what they don’t share as often is the cost and stress of maintaining that lifestyle. If you have a steady remote-working job, great, but you’ll spend lots of time in your room – you still need to finish your work. If you have irregular income, you’re going to stress about money and won’t be able to fully enjoy your travel.
I still think the best way to travel is to save up enough money for it beforehand. And have multiple passive income streams so working becomes a choice rather than a necessity.
As someone who keeps gold and regularly checks the price, I thought I’d cover the gold price movement in the last decade. Here’s what happened to gold prices between 2008 until mid-2018. Think of this article as an explanation of the 10-year historical gold price chart below.
For the benefit of this article, I’ll use price of gold per gram, not per kilo. Most people track the price that way anyway (unless they’re from the US, in which case they use ounces).
One thing I noticed about people who are passionate about cryptocurrencies and blockchain technology is their ideologies and values.
They tend to be the same people who rank transparency, efficiency and financial inclusiveness high in their belief system. Not all of them (some just got in it for the moneh), but many of them. And for that reason, I support the industry.
In the interest of promoting the cryptocurrency and blockchain in Malaysia, I have compiled Malaysia-based companies, associations and groups you should know.
Note that this list is not exhaustive – I might have missed some – but the popular ones with active members are here. If you know of any more, please comment and I’ll add it in.