Financial Tips

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

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