And investors went crazy. Like moths to a flame, the (price) action attracted a lot of attention. This phenomenon isn’t unique to stocks; the same thing happens to other commodities, too – you’ve seen the long lines at gold jewellery stores when gold price broke RM300/gram.
(P/s – Never think you’re immune to FOMO, best to stay humble. Having an ego and thinking you’re more rational than the crowd could will be your downfall.)
So… you want to start exploring stock investing in Malaysia, but don’t know where to start. Here are 7 articles, to read *in order* that will help you in your stocks investing journey.
“Wow, so lucky you do wedding planning during Covid-19. Can save cost!”
Generally speaking, that’s true. Not denying the cost-saving aspect of it. My wedding, scheduled in Nov 2020, will be significantly downsized.
Additionally, I have extra money to re-allocate towards the wedding as my tunang event, which was scheduled during MCO, got cancelled.
I don’t know how much everything will cost yet, but I doubt it will reach RM50-70k originally planned.
If I’m honest, I am… 80% happy and 20% sad about all this. Happy because, yeah the cost will be lower than projected. But I can’t ignore the 20%, which comes from OH I DON’T KNOW PEOPLE DYING AND BREADWINNERS LOSING JOBS AND INCOME AND STUFF. And also, seeing deals I can’t take advantage of.
Nowadays banyak wedding-related deals. Venue, photography, baju etc. Understandable, they do it for cashflow reasons
But no matter how good the deal is… I can’t take now because all plans up in the air 🙁
So I thought I’d write a post about it, to both organise my thoughts and also find people in the same boat (in my experience, writing about it attracts people in the same predicament). I’d like to share how it was like to plan a wedding when you have Covid-19 rudely interrupting the process.
Note: This is written from the woman’s perspective. I’m not responsible for a few expenses, like rings and mas kahwin and stuff. You can check out BalkoniHijau’s wedding survey for the guys’ perspective.
Being an adult is accepting, and preparing for at least one major expense per month.
You can’t escape it. If it’s not paying taxes (my biggest expense in July 2020), it’ll be something else – home maintenance, car repair, replacing broken appliances, buying ‘smart’ upgrades (like a nice mattress so you’ll get a good night sleep, or noise-cancelling headphones to work better), medical treatment, whatever.
Once in a blue moon, you’ll get through a month without incurring a major expense, but later you’ll find that some months will incur multiple major expenses, so it averages out.
I’ve read somewhere that the only way to break this cycle is when:
you’ve successfully upgraded all your essentials to high-quality versions, so they break less and therefore need replacing less often
you put the payment on an instalment plan. You’re still paying, just not in one BIG chunk. Obviously this is cheating because you still end up paying the same amount
you can afford to pay for longer terms instead of shorter (ie paying for 5 years of driving licence instead of renewing annually). But yeah this is still delaying, not eliminating
I wonder if there are other ways to stop the major ‘Misc Needs’ or ’emergency’ expenses. How can one even FI/RE if we have to deal with this wildcard, forever? If ‘just budget it in’ the best answer?
Obligatory disclaimer: This article is for SHARING purposes only! NOTHING in here is a recommendation, so don’t say ‘Oh Suraya say must do like that’ HELLO I NEVER SAY THAT, LATER I BABAB ONLY YOU KNOW
When Mr Stingy posted his How I Invest My Own Money article, where he gave the complete breakdown of his investment portfolio, I knew I wanted to write out my own version as well.
Ringgit Oh Ringgit is pleased to be one of the official media partners for Cakna Kewangan Summit 2020, the Malay-language personal finance event which will run for 3 days, from 13-15 June 2020.
Some sponsors/partners you might be familiar with include PTPTN, Bursa Malaysia, UOB KayHan, INSKEN (Institut Keusahawanan Negara), MFPC (Malaysia Financial Planning Association) and (for some reason) Kelantan state government.
Let me give you two good reasons to attend Cakna Kewangan Summit 2020.
I’ve decided. Now, anytime anyone new to investing asks me about which investments to get, I’m going to say ‘get the set-and-forget’ ones. Take this investment tip: Unless you have a natural passion (or desire to learn about) stocks and properties and other research-heavy investments, go for the investments you can automate.
Why? Because the challenge is not about picking an investment. There are a lot of good options. The challenge is adding more money to it on a regular basis, usually monthly, over the long term.
Without automated investments, most people will start an investment… then ‘forget’ to contribute to their investment portfolio on a regular basis. And by not adding, the money will never grow as fast as you want.
I know because I’m talking about myself. Despite being an investor for over 10 years now, transferring money out of my banking account to my investment account still hurts each and every time. Therefore, it’s a good idea to feel the pain once (as you set up the recurring deductions), rather than feeling the pain many times over many years.
In this article, I’ve listed out all the investments that you can automate in Malaysia, that I know of. If there are more, let me know in the comments section.
Do you agree with the way I stereotyped Malaysian investors? Disagree? Tell me in the comments section!
Also please follow the RinggitOhRinggit Youtube channel. I’m currently exploring YouTube as an additional income stream. So help me out by watching and subscribing, I’m trying to hit 1000 subs and 4000 watch hours so I can write about the monetisation process 🙂
Another month where only 4 categories showed up in my expense-tracking app:
Business (RM4,877.69) – mostly paid the balance of book order, and packaging for deliveries
Utilities & Rent (RM1,352.47) – ze living quarters
Misc Needs (RM565.22) – restocked cat food and cat litter, bought office chair, new stand fan and kettle (more on that under Nay section below)
Let’s talk about something. Donations. This has been on my mind, and I just want to let it off my chest.
As you know, a lot of people are having financial hardship. A lot of people are seeking help.
I think… I’ve become increasingly desensitised to the many, many donation calls which appeared in my social media timeline. Nowadays I simply scroll past most of them, opting to take the ‘don’t see, don’t know’ approach.
As time goes on, I know that I will only give my attention and money to the donation calls that are especially gut-wrenching. The ones with emotional pictures and copywriting. They work, you and I know they do, think of the last donation you made. And as NGOs understand how well they work, they’ll use that strategy more and more.
The higher volume means I’ll get desensitised to those soon enough, too.
Feeling guilty for not doing more when I have the means to do so is a constant feature of my life now. I’m aware how much this sounds like virtue-signalling – I’m pissed off at myself too because boohoo kesian Suraya wow she feels horrible, wtf Suraya this ISN’T about you, how DARE you think YOU have it rough when millions, maybe BILLIONS of people will starve. In 2020.
I don’t know, you guys. Does avoidance as a coping mechanism make me a bad person? Is choosing to prioritise my FI/RE journey a bad thing? I hate that I hate wealth inequality, yet choosing to do the exact same wealth preservation strategy the rich are making, by ‘staying invested’.
Bleak thought process? Well it’s a bleak world. I’ll try and focus on the good, but I can’t lalala my way out of this. The journey to understand my own psyche continues. I hope eventually I’ll come to a better way to cope and/or manage resources. This is part of personal finance too.
Definitely worth a read. We may be staying home most of the time, but not all the time. One tip in particular was especially practical: when outside, as much as possible use knees, feet, elbows and knuckles instead of fingertips.