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belanjawan2019

Link Roundup #14: 10 Things to Know This Week

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. #Budget2019: 25 Highlights From Pakatan Harapan’s First Budget In Power – Says.com

A good summary of what you need to know about Pakatan Harapan’s #Budget2019 / #Belanjawan2019 announcement.

I like most things from Budget 2019, except:

  • P2P lending as a way to finance housing. From what I’ve observed so far, P2P lending’s interest rates are pretty high, from 12-18%. Why would anyone want to finance their home ownership via P2P lending, when normal housing loans are just around 4%? Also, apparently investors make their money on the appreciation value of the property. That makes the borrower a ‘custodian’ of the property, instead of for their long-term housing solution? It just doesn’t make sense, but to be fair we haven’t seen the full guidelines of the implementation method yet. So let’s see, but until then I’m highly sceptical.
  • Higher budget allocation for JAKIM. They got an additional RM100 million, from RM1.1 billion to RM1.2 billion. Sigh, expect more moral policing next year too I guess. Note: I’m not attacking Islam, I’m attacking Jakim. You can’t deny their actions give the religion a bad reputation, not only nationally but internationally as well.

A lot of people didn’t like the digital services tax. As a Spotify premium subscriber, this affects me too. But you know what? I’ll take the hit. First of all, I’m already paying lower because I’m in a family plan (related: 3 Ways to Get Cheaper Spotify Premium in Malaysia). Secondly, I’m just happy they didn’t increase the personal income tax, after it was lowered last year! This is pretty much the only ‘sacrifice’ I have to make, so OK la, no complaints!

MalaysiaKini has a handy tool to check how #Budget2019 will affect you personally. I can recommend it. Take it here, or click the picture below. Good job creators Lee Long Hui and Sean Ho!

link roundup

What are YOUR thoughts on Budget 2019?

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Link Roundup #10: 10 Things to Know This Week

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. Share your suggestions for #belanjawan2019 – Ministry of Finance Malaysia

Wanted: your suggestions! Saw this tweet from the Ministry of Finance – decided to share here for wider reach!

The 12 categories are:

  • Cost of Living
  • Education and Training
  • Public Sector Reform
  • Technology and Innovation
  • Entrepreneurship and Business
  • Access to Financing
  • Income and Employment Opportunities
  • Rakyat Welfare and Well-Being
  • Healthcare and Healthy Lifestyle
  • Housing, Infrastructure and Public Safety
  • Social Justice and Equitable Development
  • Environment and Sustainable Development

For more information, view the Belanjawan 2019 page (English version).

You can submit your suggestions on Twitter (click here to see the current #belanjawan2019 discussion on Twitter), but I suggest you submit directly at the Belanjawan 2019 main website at this page.

If you have suggestions on how the nation should spend its money, remember to give them by 30 September 2018, because YB Lim Guan Eng will present it on 2 November 2018!

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