Tag

malaysia

4 Investments I Want To Try (But Haven’t)

Here are some types of investments that I have: mutual funds/unit trust, gold and crypto.

This article is all about investments I don’t have yet, but always been curious to try. I may or may not proceed with one or any of them in the future. It’s just to show you what I’ve done about them so far, and why I didn’t proceed with them yet.

#1 – ETFs (Exchange-Traded Funds)

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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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Link Roundup #9: 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. We Put Klang Valley’s Ride-Share Apps In A Head-To-Head Price Test – Vulcan Post

Surprising fact no 1: There are (at least) five active ride-sharing apps operating in the Malaysian market. Five!

They are: Grab, MyCar, MULA, EZCab and Dacsee. LOVE this article comparing the prices plus waiting times for each of them. I’m already a Grab and MyCar user – I think I’ll install EZCar too because the price looks pretty good.

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Malaysians Share How They Save Money on Coffee

Every week, I do a little mini-forum in the Ringgit Oh Ringgit FB page. Recently, I asked what people do to save money on coffee.

The answers blew me away – you people really love your coffee huh? Some of the answers were so creative and informative, I had to compile them here! Here’s what Malaysians do to save money on that cup of joe, divided into two sections, free and reduced-cost. 

Free Coffee

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[SPONSORED] How to Create a Blog that Doesn’t Suck & Generates Income

According to a website report, Ringgit Oh Ringgit blog is A- grade, or ‘very good’. I have As for SEO, Usability, Social and Security aspects. Only Performance aspect is not great, but that’s because my page size is big (due to the ads).

At the time of writing, Ringgit Oh Ringgit has been around for 2.5 years, more or less. Figuring out how to create a blog in the beginning was hard; I just wanted to write shit, and I didn’t know there are many other aspects I have to know and consider.

As I was adamant to generate income from this hobby, I had no choice but to learn as I go along. Here are some things I wish I knew earlier. This article is for you fellow bloggers and companies doing content marketing as a lead generation strategy.

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[SPONSORED] 4 Lesser-Known Tips to Get The Best Credit Card in Malaysia (For You)

Choosing the best credit card in Malaysia is like choosing dates on Tinder. Sometimes, you accidentally ignore the good cards (fast left swipes). Sometimes, the cards themselves beg for your attention (superlikes). And sometimes, the cards you want are not available to you (they didn’t swipe right for you..).

It can be a frustrating search process. You thought you have a lot of choices, but why is none of them suitable? But eventually you’ll find that perfect match for you, and you’ll never imagine life without them. Amirite, Tinder couples reading this?

Tinder analogy aside, credit cards really are great financial tools. I use them to earn points, shop (online and offline), make instalments on larger purchases and top up e-wallets (usually for the discounts). If you can practice these habits that make you a responsible card user, I’d recommend you to get one. They can help you build a good DSR score, too – good if you’re planning to buy a house in the future.

Here are some lesser-known tips I can offer you.

Tip #1 – Always start with the process of elimination

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The Comprehensive Personal Finance and Support Guide for LGBT in Malaysia

Let’s face it: Malaysia is NOT a good place for LGBT individuals to freely express themselves. But no one can choose where they’re born at, can they? Discrimination is sadly common, usually justified by religion.

If you disagree with ‘the LGBT lifestyle’, I ask for your empathy. This is not a ‘guide to be gay’ article, this is a ‘what to do when you need help’ article. Know the distinction. Don’t kick people when they’re down. No religion teaches that.

This article answers the following questions (in order):

  1. My family kicked me out after they find out I’m gay / lesbian / bisexual / trans / queer. What can I do?
  2. I need to check my STD / HIV / AIDS status and find out where to find information about medical help, treatment and support
  3. My colleagues at work are bullying me because of my sexual orientation / gender identity. I need the job. What can I do?
  4. I need to talk to someone. What are my options?
  5. My gender does not align with the sex I was born with. How can I transition and what kind of expenses can I expect?
  6. I can no longer/do not want to stay in Malaysia. What can I do?
  7. I am in a committed, if unrecognised relationship with my partner. If anything happens to me, how can make sure she/he can inherit my money and properties?
  8. I don’t have immediate problems but would like to prepare myself financially, in case anything happens. What can I do?
  9. I’m LGBT individual / ally with financial means. How can I help?
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Reviews of All The Ewallets in Malaysia I’ve Tried

As a finance geek, I enjoy trying out new fintech products, including ewallets. It’s fun exploring what kind of perks and cashbacks each of them offer.

Ewallets in Malaysia  – The Current Scenario

There are many companies trying to enter and compete in the ewallets scene in Malaysia. Last I checked, BNM listed 31 e-money issuers. I’m sure that list will keep growing in the next few years.

In time, I think we will see a few clear winners in this ewallet race, like what happened with Alipay in China. But for now, potential customers like you and me can have fun and enjoy being courted by these companies. Some of them are pretty generous with their welcome or referral bonuses – good for us!

Here are reviews of all the ewallets in Malaysia that I’ve tried out so far, and what I like about them. I have excluded banks and crypto ewallets from this list.

#1 – Lazada Wallet Review

Best for: Regular Lazada users

What I like about it:

  • Super fast refund on order cancellations. Your money comes back in a few minutes only, as opposed to hours/days it takes with other types of payment methods.
  • Easy to top up with credit card or online banking. Super seamless.
  • No need to download an extra app. Integrated in Lazada app itself
  • Sometimes they have extra cashback and offers if you buy stuff on Lazada using the Lazada wallet. I received RM20 voucher this way (this particular campaign have since expired)

#2 – BigPay Review

Best for: Travel junkies and AirAsia users

What I like about it:

  • Comes with a gorgeous-looking powder-blue Mastercard-branded debit card. You have to top up RM20 into your account first before they send the card to you, but the card itself it free (RM20 will appear in your account)
  • The app’s UI is really good. Very clear instructions. Security features are great
  • According to a FB commentor, the debit card’s overseas exchange rates are damn good and similar to XE.com rates! That’s a HUGE plus!
  • No processing fee if you use this card to buy AirAsia flights (RM4-RM16 in savings!). Note: If you want the card for this feature, make sure to apply 3-5 working days before so there’s enough time for card delivery
  • Can collect BigPoints, which you can use to redeem for AirAsia flights
  • Can transfer money to friends for free
  • Many fees are waived for now (later on, they will charge RM2.50 monthly fee if you don’t use the card at least once in a month. Not a huge issue tbh, Mastercard is accepted everywhere so it’s easy to use)
  • Apparently the app is designed to be Mint-like. Purchases will be categorised for you. Haven’t tried this feature yet.
  • GENEROUS sign up and referral bonus! Get extra RM10 credit if you use my referral code INLALP7ZLE (I get RM10 too!). To download the app, find BigPay in PlayStore (Android) or Appstore (iOS)

EDIT:

Received a hack from a kind commentor and want to share it with you!

You can combine the BigPay card with the Public Bank Quantum credit card to earn 5% cashback. How:
– top up the amount in BigPay debit card with the credit card
– use like normal, anywhere Mastercard is accepted!
– PROTIP: reload on Monday to get ADDITIONAL 5% cashback. One time only, and need to sms Public Bank. Go check Public bank for details of this particular promo

ALSO! This is a great card to buy stuff from overseas (that’s not priced in RM). You’re charged XE.com rates, which is amazing! Cards from normal banks NEVER give that kind of rates

#3 – Fave Pay Review

Best for: Fave users (for non-users, it’s like Groupon but no minimum number of buyers to unlock deals)

What I like about it:

  • Built-in the Fave platform and app, no need to download separately.
  • Always have ongoing cashback promotions and offers. Many promo codes.
  • The app can search places near you that give you extra promotions and cashback. The cashback deals are generous; between 5-30%. Sometimes when I’m out and about I’d open the app and pleasantly surprised by the offerings near me, lots of smaller shops I wouldn’t have tried otherwise.
  • Accepts AMEX!
  • Referral bonus. Get RM5 off your first purchase if you sign up via this link (I get RM5, too!)

#4 – Boost App Review

Ewallets in Malaysia

Best for: Buy discounted vouchers!

What I like about it:

  • Lots of discounted vouchers available, including for Steam, Lazada, Zalora, 11th Street, MBO, Redbox, Grab, Mobile prepaid top up and more. Many are discounted by 10-20%!
  • Effectively better than Shopback for some purchases. Example – I can buy RM50 Lazada voucher for RM45 from Boost and save 10% rather than get just 1% cashback from Shopback
  • Can transfer money to friends for free
  • Kinda meh about this, but they do have pay-with-QR-code feature
  • Integrated with Fave
  • Referral bonus. Enter my invite code sur8oko and get RM5 cashback after first payment or RM10 purchase. Find Boost App in Playstore (Android) or Appstore (iOS)

Those are the ones I’ve tried so far, but there are more ewallets coming in!

Ewallets in Malaysia I Want to Try

#1 – Touch N Go

I’ve used Touch N Go cards, sure, but I haven’t downloaded their app. But I will after they revamp their app – CIMB has a major stake in TnG, and last I heard TnG  have a joint venture with Ant Financials (the company behind Alipay). So let’s see what they’ll offer when they finally revamp it.

EDIT: I downloaded the Touch N Go app. A bit underwhelming – can’t even register and top up my cards. Waiting for future updates.

#2 – GrabPay

To be fair, I already use GrabPay for Grab rides, but not the version they’re planning in (near?) future, the version where you can use it to make in-store payments and maybe even offer insurance and micro-lending.  GrabPay partnered with Maybank kot. I have high hopes.

EDIT: I regularly top up money in GrabPay using credit card (to get credit card cashback + points), and use that to pay for my Grab rides. Earning higher Grab Reward Points this way, which I can redeem for Grab rides.

#3 – WeChat Pay

I don’t use WeChat, but I know it’s insanely popular among Chinese users (and young Malay kids for some reason). Hong Leong Bank partnered with WeChat Pay so I’ll be following the news for this development.

EDIT: I downloaded WeChat during the Money Packet promo, where they gave out between RM3.88-RM88.88 randomly. Didn’t manage to get anything. Their server crashed, probably because many Malaysians tried to get the money too lol

Ewallets in Malaysia I Haven’t Tried

If you’ve tried any of these ewallets (Source: FintechNews Malaysia), I’d love to hear your reviews. Are they good? Worth trying out?

  • VCash
  • KiplePay
  • HotWallet
  • MCash
  • PrimeKeeper
  • SamsungPay
  • VeCash

Any other ewallets in Malaysia that should be in this list?

Conclusion

I have two thought processes here about this topic: ewallets for cashless society and ewallets as credit card replacement/competition

Ewallets for cashless society

I know there are lots of talk about ewallets being integral towards a cashless society.

Cashless is good, sure. However I’m still a big fan of using cash for payments though. Something about physically handing cash makes me sayang it more, so I am more mindful when I spend.

My personal rule is to use cash unless there are financial incentives to using digital payment methods. If it doesn’t give me discounts, cashback or loyalty points, I will keep on using cash. I don’t care about QR codes, tap and pay systems or whatever other fancy things – they’re secondary to its money-saving ability.

Ewallets as credit card replacement/competition

What I regularly do before I want to buy something is check:

  • Do I actually need this product/service?
  • (If the answer is yes,)
  • Are there credit card discounts available?
  • Can I buy it from Shopback for the cashback? (Related: Shopback Tips: How I Made Over RM2000)

Now with these ewallets, I feel like I have my work cut out for me – I would check them too in case there are discounts there.

This is not even including future ewallets that’s going to enter the market. When TnG, GrapPay and WeChat Pay comes… hooo boy.

What’s your take on this whole ewallets thing? What do YOU use?

Link Roundup #2: 10 Things to Know This Week

Accelerate your personal finance knowledge with this new regular feature on Ringgit Oh Ringgit – the Link Roundup! I promise you’ll find these 10 articles informational 🙂

1. Consumer Reports Tested 73 Sunscreens, and This Formula Got a Perfect Score – Byrdie

You already know how important it is to wear sunscreen, but not all of them are created equal. Some formulas give next-to-nothing protection even if applied – a big money waster, if you ask me. The honour for the perfect sunscreen formula apparently goes to a product called Anthelios Clear Skin Dry Touch Sunscreen, produced by the company La Roche Posay. It costs $20 for 50ml, so I don’t think I’ll get it (even if it’s available in Malaysia).

BUT there are near-perfect formulas that are a lot more affordable! Anyone know where I can get these in Malaysia? Share in the comments section!

  • Sport Sunscreen Lotion SPF 50 by Equate ($5 for 237ml);
  • Quik Gel Sunscreen Broad Spectrum SPF 50 by Bull Frog ($9 for 147ml);
  • Water Babies and Ultra Guard by Coppertone ($7 for 237ml);
  • Pure & Free Baby Mineral Sunscreen by Neutrogena ($11 for 88ml).
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What Malaysians Found Out After GE14

This is a commentary post on GE14. Not about who won – although I am elated about that – but about things that was suddenly unearthed after the results came in. Wherever possible, I added a personal finance element (gotta keep to the theme of this website), but some of them are just musings about what we just experienced.

Special thanks to post-GE14 TwitterJaya. I wouldn’t have been able to give these observations if not for them. Where possible, I’ve added the link to the original poster.

What Malaysians Found Out Post-GE14, In No Particular Order

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