5 Unusual Tricks to Help you Save Up

Saving money is not always as easy as it first seems, and all those good intentions and budgets can fly out of the window without you even noticing – so why not try some more unusual money saving tips? Here are five of our best tips to help you save up!

1. Never pay with coins
   That’s right, take out all those coins weighing down your purse or wallet and put them in a piggy bank or jar instead. That 10 Sen coin isn't worth much on its own, but once you start saving up all your coins, it can add up to a considerable sum. Avoid the temptation of dipping into your coin fund by storing in it a tin with just a coin slot at the top. If you have to get out a can opener to access those coins, you’re more likely to wait until it’s full before you open it!
   
   
2.  Never say NO to a freebie
   Whether it’s free shampoo and soap from a hotel or free condiments from a restaurant, stock up! These free products are just as good, but with the added bonus that they cost you nothing. It also means that you get better value on your hotel room and meal out, so it’s a win-win situation.
   
   
3. Sleep on it
   Make a deal with yourself: Don’t buy something the first time you see it. Shopping can be a dangerous experience for those wanting to save up, and sometimes all that temptation can get too much. So avoid all that hassle and post-shopping regret by not buying anything the first time you see it or try it on. Go home, sleep on it, look at your finances and your budget and decide whether you really need it, or whether you can survive without it.
   
   
4. Find a partner who’s good with money
   If your partner is always overspending, borrowing money from you and forgetting to pay their bills, chances are you’re not going to be that good with money either. We’re not saying you should break up with your partner if they’re not good with money, but you should definitely sit down together and discuss your expectations when it comes to finances – money is the number one cause of arguments in relationships, so don’t let it ruin yours too.
   
   If you’re still single, on the other hand, why not add “good with money” to your list of criteria? A smart spender will encourage you to save, and will help you to get back on track if you fall off the saving bandwagon.
   
   
5. Save the environment and your money at the same time
   You've heard it a thousand times before: switch off the lights when you’re not in the room, reuse paper, bottles and everything possible… It’s all great for the environment, but there’s another key reason to save energy and reduce, reuse and recycle: it saves you money!

Exclusively for Finance Malaysia Blog, this money saving tips is brought to you by comparehero.my, Malaysia's leading comparison portal.

Why Gold and Silver? Why Online Store?

Are you first time gold and silver buyers? Why don't you invest in these popular metals? If you did so, you have had a wonderful investing experience after 2008 global financial crisis. But, do you really understand these metals? Were they really precious (especially now)?

Traditionally, gold and silver were one form of exchange. Because of the invention of fiat money, they were being turned into some short of "back-up" currency, in case our fiat money system go burst. It's natural when things go wrong, gold and silver tends to appreciate in value. In other words, people hold precious metals to preserve the value of their assets.

3 Reasons Why Gold and Silver...

1. Still hot in demand, especially by emerging affluent Chinese. Traditionally, Chinese loves gold. They bought it for events such as new born baby, new year, wedding and even funeral ceremony.
2. Strengthening USD ??? Yes. It's a correct reason also. Why? Because of news that US going to stop QE3, USD is strengthening so much. But, we must not forget that Europe is still printing money. Then, how about Japan who jump into the bandwagon of money printing?
3. Simply for portfolio diversifying purpose. As a rule of thumb, 10% of our investment portfolio should allocate to precious metals like gold and silver. When everything goes haywire, precious metals tends to react reversely positive.

Alternative Distributing Channel...

Other than the commonly seen channel like banks and goldsmiths, have you ever think about online purchase? Why?

1. Normally, it's cheaper because it does not need to open a shop and employ security guard.
2. Convenient. You can view and select with the pleasure of your time, comfortably at home.
3. Safe delivery. It's depend. But, I will feel safer if it delivers to my doorstep, instead of going to purchase at goldsmith. Do you know someone might be following you?

Of course, some of you may skeptical about the reliability of the online store. You may try it with small purchase first (test the water before diving in). On this matter, one of the most popular online store in town was SilverMalaysia.com which already features in major dailies with wide media coverage. You may open an account, then explore further.

* Finance Malaysia Blog DO NOT holds any form of liabilities regarding the recommendations. Investors are advised to read and understand the terms and condition thoroughly.

3 Tighter Rules for Property Sector? (Sept 2013)

Prior to Budget 2014 (to be tabled next month), speculation has rift up on a few proposal to tighten the rules, especially on property sector. Following the outcry from public stating the alarming high property prices, measure should be taken to tackle the issue before bubble was formed.

The Bubbling Biz...

Among the measures being proposed were:

1. Non-other than Real Property Gain Tax (RPGT)
   
   
   
   
2. Higher Stamp Duty:
   ~ 5% of purchase price for 3rd property
   ~ 7.5% for 4th property
   ~ 10% for 5th property onward
   
   
3. Loan-to-Value ratio reduce to 60% for 3rd property onward
   
   

While the above info need to be ascertained further, some banks already implemented their in-house ruling. What's that? It was to limit the maximum term for refinancing of property to 10 years. Yes. Sooner or later, all of the banks will follow.

* Please note that the above 3 rules need to be ascertained further. Stay tune!

Work Ethic of 70s, 80s, 90s

Different generations have their own view on working. You like it or not, working is part of our live. No work = No life. However, this equation has since changed to "Working = No life". Do you agree?

Generally, those born in 70s were perceived to be loving their job. They work hard mainly because of 3 meals/day. For them, a secured life means having a stable job with stable income. They believe that with every efforts you put in, that will reward you back later. As such, over time (OT) is nothing for them.

As a responsible 70s, losing their job is a serious matter they tend to avoid. That's why they usually found another job first, before resigning.

How about 80s?

Other than chasing for stable income, those 80s working adults will also look into the job scope, opportunity for promotion, or working environment. They will take initiative to find for better job. Hence, job hopping is very common for them.

Notably, 80s are reluctant to sacrifice their quality of life because of work. So, don't expect them will OT without paying extra.

Free and easy 90s?

Just because almost all of them are graduates, 90s always hoping to find a "reasonably good pay" kind of job. However, employers reluctant think in contrast. This is why many fresh graduates still unemployed, while employers facing difficulties to find suitable candidates.

Other than salary, they also emphasize on working environment and their interest. Otherwise, will they resign? Yes. They don't care and will resign straightaway, maybe, because of their wealthier parents. Why want to force themselves into job? They can become boss and entrepreneur anytime.

What do you think?

How Much You Need To Save If You Ever Want To See Your Kids Graduate?

In an age where the common degree has become a pre-requisite and not so much an advantage, ensuring that you have enough to see your children through a reputable university has inadvertently become one of the most important responsibilities you’ll face as a parent.

Unfortunately, knowing how much to save for your kids’ tertiary education is not an easy question to answer.  In fact, it is downright complex in view of the vast differences in costs from degree to degree, university to university, and country to country.  And even for those who do have a number in mind, there is still the question of when you should start saving, using which savings / investment vehicle.

If you have been wondering about your financial capabilities to finance your kids’ tertiary education, or you have been seeking a workable method to save a sizable study fund for your children; allow iMoney to shed some light on this matter with their latest infographic:

Courtesy of iMoney.my

Lesser Amount can be Withdrawn for EPF Members Investment Scheme effective January 2014

Are you an EPF member who withdraw money out for investment scheme? Then, this is a very important news to you.

Effective January 2014, the minimum basic savings required in Account 1 was revised upward. This will affect all of YOU who withdrawn certain amount from EPF account 1 for eligible investment purpose. Higher limit means lesser money you can withdraw from EPF in the future.

How much will be increased?

Based on the chart below, the percentage increased can be as high as 64%. Generally, the increasing amount was at least 50% once you're age 27 onward.

How to calculate how much can I withdrawn from EPF account 1?

What's the different or impact?

Depending on your age and how much savings in account 1, the impact varies by members. For better explanation, please see example below:

Finance Malaysia hopes this post can enlighten you on EPF members investment scheme withdrawal. You may share this to your friends. Thanks.

Funnies From China

By Guest Blogger Salvatore Dali

Originally posted in www.malaysiafinance.blogspot.com

English is a hard language when its not your mother tongue ... things get lost in translation sometimes. In Malaysia it happens, in particular when we get zombies trying to do the English subtitles for movies. These are from China, in now way am I singling them out. Japanese ones are funny as well ... there are also the ones from India, Indonesia, Thailand ... but one at a time.






Some guys (assholes) should really go to the second room.




Hey, might as well be honest while you are at it!




The police/army are so considerate.


We certainly need this sign in Malaysia ... car showrooms and Pavilion.


Awww ... shucks.




I will definitely try that!!!


What an awesome gift for some of my friends the next time I travel to China.