It seems like everyone’s slowly winding down before the Christmas holidays. The amount of quality content that’s relevant for people outside of the US has dropped quite a bit.

But that also gives you some time to start thinking about how this year has gone and how you would like next year to go!

Question of the week

What were your money goals for this year? Did you make any progress?

Share with us your thoughts!

From Our Own Site

We’re currently going through a beta phase to offer Malaysians the ability to get a personalised financial roadmap created! Right now we’re going through the testing phase with the goal of offering it to everyone in the new year.

However, if you’re interested in learning more about it, leave a comment in the facebook group and we’ll send you the details!

Money in Daily Life

What is personal finance? 4 pillars for limitless wealth

Financial “advice” like “keep a budget” and “cut out lattes” to save money doesn’t work because it solely relies on human willpower. And human willpower is limited. That means we only have so much of it we can devote to one action before it runs out.

This is such a great starting point of understanding the main pieces that go into personal finance. The author believes that there are 4 pillars in personal finance:

  • Saving
    There are a lot of saving advice out there that simply fail because it relies far too much on willpower. However, once you find ways to automate it, you will have a winning formula
  • Investing
    This blog believes that investing is the most important thing you can do today. We disagree (we believe that earning is far more powerful).
  • Earning
    "There’s a limit to how much you can save — but there’s no limit to how much you can earn."
    This blog points out two ways to earn more – negotiate a higher salary and start a side hustle. We're huge fans of side hustles (or passion projects). We'd also add one more way into the mix – speed up your skill development so that it allows you to get promoted and command a higher salary.
  • Spending
    "While there are plenty of people who take spending too far, I argue that it’s not spending that’s led to financial downturns — it’s not being conscious with your spending that can lead to unhealthy financial habits."
    Conscious spending – another way of saying spend less on the things that don't bring you as much happiness so that you can spend more on those that do.

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Grow Your Wealth

Derivatives 101 in Malaysia

Savvy investors can multiply potential gains by capitalising on the leverage effect offered by derivatives, regardless of market movement.

Warning: derivatives will really amplify your gains and losses. It is something we do not recommend you even think of touching until you're already saving 50%+ of your income.

That said, this article just gives you an introduction to some of the more popular derivatives out there.

6 Investing Fallacies and Biases to Avoid

Psychology has influence and power over investors’ investing behaviour and decision-making.

To master any investments, you will first need to understand yourself and the story you may be under the influence of (AKA your psychology). This blog covers 6 of the most common psychology fallacies out there:

  • Sunk Cost Fallacy
  • Hot Hand Fallacy
  • Gambler’s Fallacy
  • Loss Aversion Bias
  • Over Analysis Fallacy
  • Confirmation Bias

Local News / FYIs

Free water for B40 in Selangor only for 2019

Those living in Selangor have enjoyed lower prices for their water bills, but this will soon end in 2019. The Selangor 2019 Budget will see that only the B40 group in the state will receive free water; they must be registered under the E-Kashi programme.

This is more of an FYI.

Sime Darby Property to lower prices of unsold units

This is more of an FYI.

Cool Opportunities

I have decided to show these opportunities to you because I believe that they are some of the best ones out there and in many cases, are ones that I am personally involved with or am looking to get involved with.

Accelerate your money goals by joining accountability groups
Did you know that studies have shown that more than 70 percent of people who have accountability buddies / groups reported completely accomplishing their goals or being more than halfway there compared to 35 percent of those who kept goals to themselves and didn’t even write them down.

That said, we are looking to create accountability groups for you to find people who are in a similar walk of life or have similar money goals so that you can increase the chances that you are successful with your goals. If you’re interested, click here to tell us what you’re interested in!

BigPay – The Best Travel Credit Card for Malaysians?
If you ever travel out of Malaysia and use your credit card, then this is BIG (pun intended). AirAsia has released BigPay, a prepaid mastercard that you can easily top up through the BigPay app and be able to use instantly.

But more importantly, BigPay charges you at the real exchange rate (which means they charge no fees). This is something you won’t get if you were to go to your bank or some exchange counter.

In fact, I plan on only using this when I go to Toronto in December.

Anyway, if you don’t have one yet, you can sign up for free and get RM10 free when you use referral code B7D3YNZPGO.

Talking to an Independent Financial Adviser
A big issue when you work with someone who calls themselves a financial advisor is you do not know if they really have your best interest at heart. That’s one of the main reasons why I never work with any (the other one is that most of them get trained to say what the company wants and thus, do not know of all the other cool opportunities out there).

However, I’ve been talking to an independent financial adviser the last few months and I do believe that not only is she knowledgeable, but also super open to sharing her knowledge.

If you’re interested in talking to her, join our facebook group and ask your questions. She will definitely find time to pop by and answer them.