Financial Health

We take steps to live a healthy lifestyle and minimise our risk of serious illnesses, but none of us can completely prevent them. According to the Department of Statistics Malaysia, terminal and critical illnesses exceed 40% of all deaths in Malaysia in 2020, highlighting their ever-present threat across the country. In insurance, the terms critical illness and terminal illness are often used. But what are they, and why are they so important to be aware of not only when it comes to our health and wellbeing, but also in terms of insurance? We will also explore why it’s important to get insured

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

We’ve all heard “save more, spend less” for a healthy wallet. There are obvious things that drain our wallets like rent or vacation, and then there are the little expenses. If the little expenses frequently go unnoticed, they will eventually cause a surprise when you check your bank balance. ​ Source: Garfield Eating outside food too often It can be difficult when Malaysian food is so good! However, we should try to fully utilise the hundreds of Ringgit spent on groceries. Use them for cooking. If dining out becomes a daily routine, even regular dine outs can quickly add up. With food

Your net worth refers to the difference between your assets and liabilities.  It provides a big picture view of your current financial situation - think of it as a financial report card that allows you to evaluate your current financial health, and helps you figure out what you need to do to reach your financial goals.  ​ Source: Money Life Wax How to calculate your net worth You can do this in three easy steps.  Step 1:  Add up the total value of all your assets.  Your assets are resources that have economic value with the expectation that they will provide

Your financial health refers to the state of your finances - it’s an overall look at how well-prepared you are for unexpected financial emergencies.  Like your physical health, your financial health is essential for a happy and successful life. And just like how you shouldn’t ignore symptoms of a potential illness, you shouldn’t ignore symptoms of poor financial health.  These are 4 of the most common red flags to look out for:  ​ Source: Ahseeit You have little or no savings for emergencies One of the fundamentals of good financial health is having an emergency fund.