Tag

malaysia

10 Malaysia-Based Personal Finance Twitter Accounts to Follow

If you love personal finance as a topic but have not explored Malaysian Twitter yet, do I have a treat for you today.

Following my popular personal finance Instagrammers in Malaysia article, I thought I’d compile the Twitter version pulak. Here are some Malaysia-based personal finance Twitter accounts you definitely should follow. Note that I have intentionally excluded other personal finance thought leaders in Malaysia who don’t use Twitter as their main engagement channel (bloggers, Instagrammers etc). I also exclude Twitter accounts maintained by finance-related companies and media.

This names in this list links directly to their Twitter accounts and appear in no particular order. If I missed out anyone, do let me know (or leave a comment with a link to the profile!)

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Link Roundup #18: 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. This Is What Life Without Retirement Savings Looks Like – The Atlantic

One of my biggest fears in life is being forced to work to cover my living costs when I’m old and in pain. This article interviews people who are exactly in that situation.

Read the article, then note how you feel. For me, it was fear, helplessness and renewed motivation to work my ass off while I’m still young – in that order. If I have this much time to plan, I don’t have any excuse for letting the worst-case-scenario happen to me, do I?

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Link Roundup #17: 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. The e-wallet infinity war in Malaysia – Everything you need to know about e-wallet starts here… – ecInsider

First of all, the article’s accompanying image though hahahahhahahah:

The image kinda describes the e-wallet scene in Malaysia right now – there are so many players that you can’t help to wonder who will ‘disappear’ and who will make it in the end. The author’s predictions, backed with pretty solid arguments – is #5 as listed in its table of contents.

  1. The dawn of the e-wallet infinity war
  2. Does e-wallet provider need a license in Malaysia?
  3. What is BNM’s policy on e-wallet?
  4. Who are the e-wallet providers in Malaysia?
  5. Which e-wallet providers will stay in the long run?
  6. Will Malaysians use e-wallet?
  7. Understanding e-wallet 1-2-3
  8. Why should retailers & etailers care?
  9. How to differentiate Static vs Dynamic QR payment?
  10. Who will win: network-based or card-based e-wallet?

There’s a link in the article, right near the end, which points you to the e-wallets in Malaysia Facebook community. I’ve personally learned a few e-wallet-related money hacks from the group, can recommend *thumbs up*

E-wallet deals also appear a lot in BestDealsMalaysia.com.

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[SPONSORED] What Rich Malaysians Do With Their Money (That You Don’t)

According to the Department of Statistics Malaysia, the T20 in this country received 46.2% of overall income share in 2016, while the M40 and B40 received 37.4% and 16.4% respectively.

rich malaysians

Image credit to DOSM

Looking at the statistics, you can’t deny that rich Malaysians must know something that the rest of us don’t. I mean, the top 20% can’t have gotten almost half of all the income in Malaysia by accident.

I am greatly fascinated by the money mindset that the rich have. Not their lifestyle, mind you – looking rich is not the same as being rich – but their mindset: what they learned from their parents (if they were born rich) or from life experiences (if they worked hard to get there).

Here are some things that I’ve learned about rich Malaysians.

#1 – They buy time

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Budget Update: November 2018

november 2018

Budget Update: November 2018

Spent under RM6k in November 2018. Top 3 categories were Business (no issues there), Utilities & Rent (ditto) and Dates/Travel (… I think I need to talk to the partner).

Anyway, hey, I want to talk about something else in this section. Martech. Do you know this word? It’s short for marketing technology, and companies love it because it helps them rake in more sales. In fact, companies love martech so much that Chief Marketing Officers are now spending more on martech tools rather than human marketers.

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.

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14 Malaysia-Based Personal Finance Instagrammers You Should Follow

Nowadays, I notice there are more personal finance websites and blogs around. My grand scheme to get more Malaysian talk openly about money is working muahahahah!

(okay I cannot take all the credit but some la okay some)

(I’m not perasan they told me one)

You know where else money discussions are spilling over, aside from websites and blogs? Instagram. Yes, Instagram, the platform you log on to get jealous over other people’s perfect-looking lives (I’m not wrong).

So you can imagine how pleasantly surprised I was by the emergence this new trend, of Malaysians sharing about personal finance in their Instagram accounts (instead of the usual food, fashion, beauty, travel, etc). I love following them, and find them therapeutic – as I scroll down my feed, my bouts of envy is naturalised by money quotes and reminders to not spend money!

Here are 14 personal finance Instagram accounts that Malaysians should follow. This list is in no particular order.

EDIT: If you are a personal finance Instagrammer, and you’re not listed in this article, please drop a comment with a link to your profile 🙂

#1 – debtfreemy

personal finance instagram malaysia

What to expect in the feed:

#2 – debtfreemalaysia

personal finance instagram malaysia

What to expect in the feed:

 

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My October’s Target. Where I want myself to achieve at the end of this month. #DebtFree #DebtFreeCommunity #DebtFreeMalaysia #BebasHutang

A post shared by DebtFree (@debtfreemalaysia) on

#3 – budgetbabe.my

personal finance instagram malaysia

What to expect in the feed:

#4 – makeover.life.debt

personal finance instagram malaysia

What to expect in the feed:

 

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October’s Groceries (wet food only)

A post shared by Debt Free NNR (@makeover.life.debt) on

#5 – savvysaz

personal finance instagram malaysia

What to expect in the feed:

#6 – dearduit

personal finance instagram malaysia

What to expect in the feed:

#7 – mimirello

personal finance instagram malaysia

(yep, the same blogger behind Mimirello.com website!)

What to expect in the feed:

#8 – dividendmagic

personal finance instagram malaysia

(yep, the same blogger behind DividendMagic website!)

What to expect in the feed:

#9 – blackbeltmillionaire

personal finance instagram malaysia

(yep, the same blogger behind Blackbelt Millionaire website!)

What to expect in the feed:

#10 – financial_friday

personal finance instagram malaysia

*not technically Malaysian, but used to study/work in Malaysia, so close enough (she’s from the Mauritius)

What to expect in the feed:

 

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I was an international student in Malaysia and I was constantly on the move: from campus accommodation to cheaper and cheaper rented rooms. . . I wanted to get the most out of my small allowance and soon, I was not only moving to smaller rooms, but I was letting go of a lot of stuff. And yet, the more I stayed in this new country, the happier I was. . . Now that I’m back home, in Mauritius, I realised I didn’t need a lot of things. And I realised that a fancy high-maintenance lifestyle will not make me happy. . . That’s why I wanna share this list, which follows my journey in #intentionalspending and #intentionalliving . . And you? What are the material things you realised you could live without, even despite what others would say? Comment below! . . If you want to read more about the ‘why’ and ‘how’ and back stories of all the items I chose, read it on my blog via the link in my personal account —-> @dkwaye . . . #FinancialFriday #personalfinance #minimalism #minimalist #lessismore #bemorewithless #minimalistlife #spendinghabits #spendless #debtfreeliving #howtosavemoney #savemoney #savingmoney #financialfreedom #moneytips #simpleliving #financialplanning #financialindependence #financialadvice #moneysavingtips #moneyadvice #simplelife

A post shared by It’s #FinancialFriday! (@financial_friday) on

 

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Happy Monday guys! Yesterday, I was going through my old #budget notebooks. I used to get those cute #pocketnotebooks which come with blank no-line pages and would list down: . • all my expenses of day every evening before going to bed, • the exact amount I had in my bank accounts at the end of each month and how much I had in cash at the time of writing, • my #savingsgoals – basically how much I planned to put aside for #savings for the month, • my income of course! . It was a tedious handwritten process, but it was so satisfying, seeing my small savings grow and I got to have 100% control my spending 😊 . . Notebooks from @mosseryco . . . #financialfriday #budgeting #budgetingtips #personalfinance #financetips #savemoney #savingmoney #savingsplan #financialplanning #adulting101 #cutestationery #financialgoals #finances #debtfreeliving #financialliteracy #financialadvice #moneysavingtips #disciplineequalsfreedom #budgetplanner #budgetlife #budgetfriendly

A post shared by It’s #FinancialFriday! (@financial_friday) on

#12 – debtfreesabah

personal finance instagram malaysia

What to expect in the feed:

#13 – surayaror

Mine 😀

personal finance instagram malaysia

What to expect in the feed:

Special mentions!

Aside from the above, I also want to feature some people in the zero waste movement who are leading by example. They prioritise DIY culture, consuming less and buying local & natural. We can learn a lot from them, and save a bunch of money in the process, too!

#13 – zerowastemy

personal finance instagram malaysia

What to expect in the feed:

 

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Current read: Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist, Kate Raworth. This should be essential reading for every economist, student, human. . . An excerpt: “Economic theory has long portrayed a “clean” environment as a luxury good affordable only for the well-off. … growth will (eventually) clean [the pollution] up. But there is no such law: ecological degradation is simply the result of degenerative industrial design. This century needs economic thinking that unleashes regenerative design in order to create a circular – not linear – economy, and to restore humans as full participants in Earth’s cyclical process of life.” . . We can no longer ignore the fact that economic “growth” led by our consumption and need (greed) for endless stuff (fashion trends, latest gadgets, dollar store knick knacks) has had a very negative impact on our planet. Scientists now warn of potential irreversible environmental damage affecting us, all of us, by 2030. Impacts include more severe droughts, heavier rains, coastal flooding, wildfires and heat waves. Will you take action to reject this insane model of a linear economy in favour of a more circular one? We can all do something small to ensure we still have a liveable planet in 2030, 2040, 2050. Take public transport instead of driving; shop local produce; refuse that straw, plastic bag, coffee cup and free gift; forget that sale – shop your best friend’s closet; eat less meat; start a compost. What will you do to reduce CO2?

A post shared by Elena (@zerowastemy) on

#14 – iquitwaste

What to expect in the feed:

 

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I made a new simple face scrub: locally grown brown sugar, local raw honey from stingless bees, juice of keffir lime and ground ginger (both I got from the market). Use it once a day before going to bed. I don’t know if it removes make up cuz I don’t use make up 😊 My small way of reducing my impact: we all have limited emissions credits, by making my own product from a few natural locally sourced ingredients I have a sustainable alternative to a plastic-packaged, centrally manufactured with many dubious chemicals shipped in from different places, heavily packaged and shipped out finished product; which gives off waste in the form of toxic suds wastewater and plastic microbeads down the drain, and a plastic tube or bottle that probably will never get recycled and end up in the ocean. And let’s look at emissions: a commercial manufacturing facility consumes huge amounts of energy (industry is in the top 5 of largest emissions sources), and then logistics of shipping out finished products (transport is also in the top 5). Take back our individual emissions credits. By making and consuming things as close as possible to their natural state and locally sourced, we are giving the finger to big industries and putting ourselves and our planet over their profits 💚

A post shared by Smita Jairam (@iquitwaste) on

 

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It still bothers me when I see many urban Malaysians insisting on buying and consuming imported food, fruit and vegetables; especially in affluent cities. We are so uber-blessed to live in a land of abundance, fresh fruit and vegetables growing all year round: greens, gourds, tubers, roots, herbs, flowers, fruits, everything that is needed to nourish us. Imported fresh fruits and vegetables have to be air freighted and wrapped in layers of plastics to maintain their freshness when they reach their destination. All that plastic waste and emissions are contributing to Mama earth’s deterioration. The transport sector is one of the biggest emitters of greenhouse gases and what are they transporting: people, goods and food! It’s especially ridiculous because here in Malaysia we maintain our culture of regular farmer’s markets that happen in every city and every town. Kuala Lumpur has accessible morning and night markets in different suburbs. In East Malaysia, they are called tamu and are held regularly. On our road trip this past weekend, we stopped in many small towns and headed straight to the tamu to buy local goods, including food. We don’t need fancy “exotic” trendy superfood fruit and veg grown 15000km away. It’s not healthy for our bodies if it’s killing our planet. Photo by @dean1sm

A post shared by Smita Jairam (@iquitwaste) on

Do you know of any other personal finance accounts in Malaysia we should follow?

Strictly curated by people, not brands or companies 😉 And must talk about personal finance in the majority of their posts.

If you know of any other Malaysians maintaining personal finance instagram accounts, share with us in the comments section!

Link Roundup #13: 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. Report: Rising household expenditure driven by food inflation – MalaysiaKini and Research: Malaysian households earning RM2,000 may have only RM76 left after expenses – The Malay Mail

Different headlines by different news publications reporting from the same source – ‘The State of Households 2018: Different Realities‘ report by Khazanah Research Institute.

There are lots of data inside both articles, but here’s what you need to know: the poor spend a much bigger portion of their income on expenses, leaving them without much safety buffer (if any) for emergencies.

With Budget 2019 coming up, I expect lots of financial support given to this income group (as it should).

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DividendMagic Taught Me How to Read Financial Statements and Buy Stocks

If you’re into Malaysian stocks, you must have heard of Leigh from DividendMagic, the 28-year old financial blogger. Leigh’s investment of choice is dividend investing, and in his blog he freely (and anonymously) share the stocks he keeps (and sells) and how they perform over the years.

I told Leigh how stocks have always been intimidating for me, and asked if he could teach me how to read financial statements so I will know what information to look out for in that long-ass document. He said yes 🙂 With his permission, I’m sharing what I learned with you people too!

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