Tag

millennials

Link Roundup #23: 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. 4 things millionaires have in common, backed by research – The Ladders

What millionaires have in common:

  • Many are self-employed
  • They choose their careers strategically
  • They’re not geniuses but they have a strong work ethic
  • They’re cheap (read: frugal)

I highly encourage you to read the article because this is not some opinion piece, telling you some inspirational bullshit. The article is backed by research and every other sentence will make you rethink your whole life, like this one: ‘you’d need to earn 2.5 times as much money to be as happy as someone who is self-employed.

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1 question you need to ask after receiving financial advice

Hands up if you have ever typed anything along these lines in Google Search:

  • ‘How to cope with cost of living’
  • ‘How to make a budget’
  • ‘How to reduce spending’
  • ‘Ways to increase income’
  • ‘What is the best credit card’
  • ‘Where can I get a loan’
  • Or some other variation of these

May I just say that the first page of Google results were designed to be there in the first place – someone lovingly crafted an SEO-optimised article, especially for the incoming Malaysian traffic. Oh, Malaysians, especially our generation, will be flocking these articles, desperate for help to counter the rising cost of living.

The articles are likely short and filled with bite-sized information. The advice given are, for better or for worse, generic, and usually ends in ‘yes you too can save money/make extra income with these methods, try it now!’. Then perhaps they will plug in a product or a service.

How do you know if you are receiving good advice or not?

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