From an international perspective, it seems like it has been a quiet week. However, there are some pretty interesting news coming out from Malaysia’s government last Friday. We’ll cover some of the highlights below.

Questions for the Financial Advisor

We have partnered with a financial advisor and one of the things we’re doing is we’re going to record us going in depth on questions or experiences that you have. The goal here is to give you useful information that’s tailored as close to you as possible but not have you pay anything for it. Be sure to ask the question or share your experience in our Facebook group That said, here’s the topic for this week:

Do you have medical insurance (a medical card)? If not, why not? If so, do you know the ins and outs of it?

Share in our facebook group post!

From Our Own Site

We’re hard at work creating some super practical things that we know you’ll enjoy. Hopefully we’ll have more to share next week 🙂

Money in Daily Life

Time is more valuable than money

When my best friend died in 2009, one of my biggest regrets was that I hadn’t made time to travel with him.

I cannot do this blog piece justice by trying to summarise it. However, I will take another quote from this blog: If some ninety-year-old rich dude offered you $100 million to trade places with him, would you do it?

Most likely your answer is no. However, are you trading your 20s, 30s, 40s, heck, even 50s to go after that salary increment?

Yes, there is a time to go after that promotion. Accelerate your skills growth early so that you can reap the rewards of it throughout your life. That’s a tradeoff that can easily give you time back in the long run.

Or start a business around your hobby. It can give you the ability to enjoy what you’re doing without having to feel bad about it.

Even better? Are you spending money on things that don’t actually bring you longterm joy into your life?

I suggest you think through these 3 questions as you read through this blog piece.

When Is It Time to Spend More on Something?

I buy lots of small appliances and sporting goods used. I’m just generally very careful about how I spend my money.
However, I don’t go for the cheapest version of everything that I buy. There are many things for which I don’t buy the cheapest version or go the cheapest route.

It’s all about picking your battles. In this person’s case, these are things that he has decided that it would be worth to pay a premium for:

  • Mattress and pillow
  • Maintenance visits to the doctor and dentist
  • Food items
  • Cell phone (for those thinking that this is permission to get the latest iphone or something, here’s what he says: “My cell phone must be sturdy (meaning it won’t break if I drop it from arm height when in a case) and must run the key apps that I use.”)
  • Automobile maintenance
  • Basic kitchen items
  • Automobiles
  • First aid items and medical items
  • Car seats
  • Life insurance (note: insurance as a whole is something I’m starting to see as a way to buy off anxiety of extreme cases; more on that in the near future)

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Grow Your Wealth

How China’s Peer-to-Peer Lending Crash Is Destroying Lives

More than 400 peer-to-peer lending platforms collapsed from June through August, according to Shanghai-based researcher Yingcan Group.

For those who have been looking at doing P2P lending such a Funding Societies, please be aware that it can go completely south. Never invest more than you're able to lose (in this case, having it go to 0).

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.

Local News

Budget 2019 Highlights
This article covers a long list of things that are changing, however here are the main ones that’s relevant for most people:

  • Government to create a Real Estate Investment Trust (REIT) for its airports.
  • Government to impose levy for all passengers travelling overseas via air routes starting June 1, 2019, RM20 for passengers travelling to Asean countries and RM40 for other countries.
  • For companies, non-citizens and non-PR holders, real property gains tax will be increased from 5% to 10%. For citizens and those with PR, real property gains tax will be increased form 0% to 5%.
  • Public transportation users can buy RM100 monthly passes for unlimited trips on RapidKL rail or bus services starting from January 2019. There is also a RM50 monthly pass for those who only use RapidKL busses. This scheme will be expanded to other bus companies in stages.
  • Government to introduce excise duty at 40 cents per litre on two categories of sugary drinks which are manufactured in the form of ready-to-drink packaging, starting April 1, 2019.
  • The Securities Commission has approved the framework for the equity-generation fund platform and P2P lending. To date, a total of RM170mil has been raised by 450 companies from various sectors through these platforms.
  • Financing under the Public Sector Home Financing Board (LPPSA) will be extended from 30 years to 35 years for first-time financing and 25 years to 30 years for second financing (pembiayaan kedua).

What do you think about these new initiatives? Share with us in the Facebook group!