Plan out how much you’re allowed to spend: have a basic budget plan such as rough estimation on allowed daily expenditure Don’t be financially dependent on other people. Instead, spend less or find a way to earn more. Use saving tactics such as enrolling for loyalty programs, opting for energy savings electrical appliances and recycle … Continued
Thanks to medical advancements and better quality of care, people are living longer and happier. However, with the current pandemic, many are facing a new set of challenges – losing the source of income, depleting savings, medical inflation, and more. It is important that you start paying attention to your financial planning for retirement. With … Continued
What should you do when you receive your paycheck? Congratulations, you have just received your first paycheck! You may want to splurge on new clothes, shoes, or a fancy dinner. But, wait a minute! Overspending is not how you spend your paycheck like a boss. To spend your paycheck like a boss is not just … Continued
Setting aside 20% of your income as savings may sound difficult if you don’t plan your expenses well. So how do you do it? The biggest problem we have when it comes to finances is the lack of financial planning. It’s important to do some self-reflection and look at our finances to figure out how … Continued
Let’s explore the basics of Islamic finance and bust some misconceptions. “Islamic financing is only for Muslims?”, “Islamic finance is old-fashioned.” “Islamic finance is so complicated, that’s why I prefer conventional finance.” These are some misconceptions that the public still have today. In reality, Islamic finance is actually a credible alternative to the conventional financial … Continued
Whether you are just starting out or getting closer to your golden years, here are 3 retirement tips to ensure that you won’t outlive your retirement savings. Diversify your investments – EPF recommends a minimum amount of RM228,000 by the time you’re 55, which gives RM950 in monthly expenditures over 20 years. Strive to supplement this … Continued
Is it important to keep my savings in EPF if I do not have money to survive now? This year has been undoubtedly challenging! With widespread job losses and salary cuts, it’s no surprise that many Malaysians would want to withdraw their retirement savings earlier. When you find yourself making that decision, it is important … Continued
Tips to manage your finances. Creating a financially secure life can feel like a daunting task, but the management of personal finances plays a significant role when seeking financial freedom. It’s never too late to get started.
Income tax reliefs from your contributions I came across this post that shared how you can claim income tax relief from your contributions. Depending on the type of coverage, you can claim up to 100% of your contributions. Now I know that getting coverage not only protects my future, it also helps to protect my … Continued
