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. Universal basic income seems to improve employment and well-being – New Scientist
Results of the world’s most comprehensive universal basic income test came out, and to no one’s surprise, it resulted in ‘better financial well-being, mental health and cognitive functioning, as well as higher levels of confidence in the future.’
The most important line to me is this one:
The findings suggest that basic income doesn’t seem to provide a disincentive for people to work.
Side note: I wrote a dystopian short story exploring how Malaysia would look like with UBI implementation. It’s not particularly a happy story, but you can read it in Money Stories from Malaysians: Volume 1 book. Purchase here.
In May 2020, I spent a total of RM4799.69, with two-thirds of that across only 2 categories: Donations & Gifts and Rent & Utilities.
Most donations went to Raya food orders (saved my family the trouble to cook on Raya Day 2) and duit raya giveaway. At first I was like hmm I should donate to other causes too (and I did), but then I remembered, charity starts at home.
May 2020 was a very strange month. I think I was out of focus for a good chunk of the month, due to (1) fasting, and (2) still processing the pandemic. Some days I feel like I’m handling it well, some days I just kinda zombie out and just do the bare minimum, professionally speaking.
What would you suggest I do? Advice wanted. I want to ‘snap out of it’ so bad. I want my pre-pandemic mental clarity back.
Everyone says welcome to a new personal finance blogger, Sivasathish! He’s a senior lecturer, a member of the Association of Chartered Certified Accountants (ACCA) and a self-confessed conservative, low-risk, long-term stock investor.
This is is current investment portfolio, which he plans to track and share until 2030. Amazing detail and super clear writing style. Whoever interested in the stocks market can follow.
I like how (1) he repeats again and again that he’s NOT a professional (no stocks guru feel, which I like), and (2) how his students say nothing but good things about him! See the comments section – so full of notes from his students. This type of student-teacher interaction is super endearing 🙂
LOVED this article by personal finance blogger Figuringgitout (DOPE NAME), covering her 10 (ten!) strategies she’ll take, factoring in the pandemic situation. It’s so thoughtful and self-reflective and focused on taking action. Highly recommend you to read.
After you read that, go follow her on Facebook. More followers = more motivation for her to write = more stuff for me us to read muahahaha
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.
“The initiative, which aims to provide better job opportunities for unemployed Malaysians and to reduce dependency on foreign labour, is a stimulus package conceived to help create up to 350,000 jobs over the next five years.
“Don’t be mistaken that we will only create 350,000 jobs. This is only for the Malaysians@Work programme. It will be in addition to the one million jobs to be created by the private sector,” Guan Eng further clarified.”
you start making bad decisions even when you know better,
you may get anxiety, depression and other mental health issues
you may get physical ailments like heart disease, diebetes, chronic sleep problems too
This is one of those ‘pick your hard’ moments. It’s hard – damn freaking hard – to force yourself to earn more money so you don’t get stressed about it anymore. But you can argue that the alternative – STAYING in the current situation without doing anything about it – is also just as hard, perhaps even harder.
The article suggests credit counselling, attending theraphy and seeking healthy coping mechanisms to reduce stress. Do that, you owe that to yourself, don’t give up. I’m rooting for you.
The research on the power of mentorship is pretty clear: People with mentors perform better, advance in their careers faster, and even experience more work-life satisfaction. And mentors benefit, too. After all, “to teach is to learn twice.”
But somehow, our culture kind of promotes animosity between different age groups? The whole #OKBoomer thing made it worse (I understand why it trended; its just, does it do more good or does it do more harm? That’s the question).
In 2020, I do want to unlearn negative stereotypes I had of older folks. We Millennials and Gen Z talk big of being inclusive, so let’s walk the talk. Ageism is a form of discrimination as well.
This article went VIRAL in social media, for good reason – who doesn’t want an extra day off per week?
So I thought I’d use this space to dig a little bit behind the headline. Here’s what I found:
‘Productivity’ was measured in sales per employee, and 40% increase in sales is no joke
They capped in-person meetings to 30 minutes
They reduced operations cost: ‘23.1% less electricity used and 58.7% fewer pages printed over the period’
The experiment ‘also incorporated self-development and family wellness schemes’
Would this work in Malaysia, you think? I don’t know. Obviously Japan and Malaysia’s working culture is different – we work hard of course but they literally invented a word which describes dying by working hard (‘karoshi’).
However, common sense tells me that it wouldn’t hurt to at least try to reduce our meeting time, no?