Money Matters & Finance Management Article

Happy Chinese New Year! The time for family reunions, great food, and of course…getting that sweet angpow! It’s a tradition where married adults give red packets containing $$$ to children, teenagers, and unmarried adults. You can actually get a sizeable amount over CNY. How to spend it is a question we ask ourselves every year. As most parents would advise when it comes to angpows, “Spend it wisely!” We’d recommend that as well! However, you don’t necessarily need to let go of treating yourself. Although there is no standard guideline, we recommend spending 80% of your angpow responsibly

Have you been noticing the prices of essential items such as food and fuel increasing? Rising inflation, an increase in the prices of goods and services, is affecting Malaysia today. The threat is expected to lower purchasing power for most Malaysians. During uncertain economic times not only in Malaysia but also the world, it’s important to know how to protect ourselves against inflation. Here are 3 effective ways to do so. ​ Source: Giphy Revise your budget Here are three things you need to look out for in your budget during high inflation: a) Try prioritising paying off debt. It

Almost all of us have taken on debt. Taking debt can help build wealth or increase income over time. Examples of good debt include mortgages, student loans, and small business loans. But debt that becomes challenging to pay off poses a long-term challenge to your finances. According to economists, as of the first half of 2021, Malaysia’s household debts are still at a worrying trend. Here are ways to pay off debt fast without forfeiting your other important financial benchmarks such as a healthy emergency fund or retirement savings.  ​ Source: Tenor Pay off the smallest debts first

Spending is not only a necessity to survive. It can be gratifying to spend on our wants like the latest gadget, nice furniture, or even the car we’ve been eyeing for months. But this gratification can easily turn into unnecessary spending if we are not careful, or even snowball into an empty wallet. Here are 5 practical tips to curb unnecessary spending. ​ Source: Giphy Understanding your triggers A spending trigger is something that tempts you to spend money. For example, a situation, emotion, place, or person. It can come in many forms and be obvious or subtle. If you don’t know you

Being a young adult is a time to be independent, and that also entails financial independence. When young, you may have studied personal finance in school and your experience may be limited. But in the real world, things can get complicated. What we learn may not necessarily translate easily to reality. Here are 8 effective and practical finance tips for young adults. ​ Source: Giphy Apply for a credit card Apply once you have income. It can help you build a good credit score early and gain rewards. A healthy credit score is important because it can improve your chances with loan