As I sat down with Rafiz Azuan Abdullah, the CEO of PIDM or Perbadanan Insurans Deposit Malaysia and asked my questions, it occurred to me that this man is truly at peace with doing a thankless job.
If you’re unfamiliar with what PIDM does, they are basically a government authority that provides protection for your deposits, as well as takaful and insurance benefits in the unlikely event a PIDM member institution fails.
For example, let’s say Bank X somehow goes bankrupt and you have RM10k saved there. As Bank X is a PIDM member bank, PIDM will make sure you get your RM10k back immediately.
Something exciting happened recently. On 23 July 2019, Tun M launched the National Strategy for Financial Literacy (2019-2023).
Korang. A national strategy. For financial literacy. Isn’t this amazing? I’m all for it. This is great, we needed this.
So I was browsing through the document (thanks Vincent for sending to me!) and thought, hey! There are so many financial education initiatives, many of which I didn’t know about! I should share this on RoR!
So here you go. Every single financial education initiatives under members of Financial Education Network (FEN), as of writing time.
In this article, I’m going to give you a condensed but concise pros/cons list of five of the most popular investments in Malaysia: fixed deposits, mutual funds/unit trust, stocks, gold and properties/land. I’m also going to give you the tried-and-tested strategies that work well with each type of investment.
Why these five? Simple – because the overwhelming majority of us will start our investing journey with one of them first.
Spoiler alert: the best books to learn about investing will never teach you about getting rich fast and making quick money.
Instead, they almost always focus on playing the long game, discussing the right mindset and building a strong foundation in understanding fundamentals, like how the economy works.
At least, that’s what I learned when I asked for best book recommendations specificto investing in a personal finance group. It was kind of a humble pie moment – I thought I read a lot, but I’ve only read one out of the 10 books on this list!
For your (and my) benefit, I’ve compiled the recommendations here, along with their video summaries. Here are some best books to learn about investing, suitable for beginners as a starting point all the way to experts to use as refresher material.
If you found this article from Google search, I’m guessing you’re either (a) desperate for money, (b) looking for easy money, or (c) both.
(although to be fair no one is NOT looking for easy money. )
If you’re (a) – desperate for money – my sympathies. This article is exactly for you. I can only imagine the mental stress you’re going through. Maybe you need money to pay rent this month. Maybe your car or house is about to get possessed by the bank. Maybe a sudden, unexpected medical bill wiped out your emergency savings.
And all the financial articles you read online… weren’t exactly helpful. Now, correct me if I’m wrong, but ‘don’t get into the situation in the first place’ is a horrible thing to say to someone who’s going through the problem.
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.
Confession: I entered the zero waste world a few years ago for its money-saving potential.
It’s been great. The communities are helpful, warm, encouraging. I had fun testing and trying out new lifestyle changes inspired from members of the zero waste community, sustainable living community, low impact community and so on. Among others, they encouraged me to:
include more plants and grains in my diet,
use a menstrual cup,
carry my reusable water bottle when going out,
keep used coffee grounds to use as fertiliser,
significantly reduce my fast-fashion shopping,
and even helped me stay smoke-free (no more cigarette butts waste!)
I know. I didn’t believe it at first. Just stared at that text for a long time, digesting what just happened. And that’s not the only donation I received too. Including this amount, I can safely say that I’ve recovered all upfront costs, and then some.
To show you my gratitude, I would like to break down the details and behind-the-scenes of selling online in Malaysia in this article. My product is a book but you can apply the knowledge to anything else. Hope it’ll be useful for you, for your own ecommerce shop (now or future).
#1 – Calculating cost price – Beyond the printing cost
THIS. Finally someone said it. This is why I never identified with the FIRE community.
Don’t get me wrong, I love the idea of FIRE (financial independence, retire early), I really do, but what they say and do can be too much. The FIRE community idolises FIRE gurus like Mr Money Moustache and Jacob Lund Fisker of Early Retirement Extreme, who promote extreme frugalism as a way of life.
That would be fine. You-do-you and all. But it *is* annoying when some male members of the community complain about how hard dating is for them. They want wives who find their extremely frugal life appealing – the unwashed clothes and all. They label women who want a little bit more in life as ‘gold diggers’, and thinks the majority of women are ‘shallow’ because we like pretty things.