From Our Own Site

Money 101
How much do you think you would need to make in a year be able to backpack one month in Thailand, Laos, Vietnam and then go to Estonia for another month?

I was able to do it making RM 48,000 (or RM 4000 / month) and still be able to live a pretty decent life during that whole process.

The reason that was possible was because I understood the fundamentals of money. And now you can too.

This program has been in the works for over 12 months now and it’s finally ready to be shared. It’s also what I believe to be the foundation of personal finance and what I believe everyone should have access to which is why it’s free.

Anyway, I do hope you go through it and share your thoughts 🙂

BigPay Malaysia Review
Now that I’ve been able to use my BigPay card for the past month, I can finally do a review. And the results are all pretty positive.

How to stop spending money on the boring to spend more on the exciting
One of my fundamental beliefs with life and money is that you need to spend as little time and money on things that you do not enjoy in order to spend the most time and money possible on the things that you do enjoy.

And those things you do enjoy should ultimately be somehow connected to your ideal life you’d like to live.

Weekly Summary – September 26 2018 1

From traditional media

Lim: 'We want all developers to reduce prices'

The finance minister has spoken. It seems like he has called out the developers to lower their prices or risk losing the SST tax cut that they have been given. I’m sure we’ll see them start making moves ever so slightly which is definitely good news if you’re looking to buy. But then again, if you were, you probably already have a lot of “promotion” offers with the amount of unsold property here in Malaysia…

From local Malaysian bloggers

Malaysians Need Financial Literacy

The rate of bankruptcy in Malaysia is rising because are not able to manage our finances. This is especially true for many fresh graduates that have just started their working careers and earning an income. Spending all that you earn (or sometimes more than you earn!) without thinking for the future sucks you into a whirlpool of debt that threatens to drown you.

Who can disagree with the fact that people are not able to manage their finances is the reason for the increase in bankruptcies?

It’s an issue throughout the world.

However, I don’t think that “managing finances” is the root of the issue. Instead, the root is from a lack of clarity on the life that we ultimately want to live. For example. If you knew that your ideal life consists going to see the fjords in Norway next year, would you go out and buy a new car this year if you have a car that works perfectly fine?

fjords in Norway
This or a new car that you really have a use for?

Oh, and a shameless plug, we just released our free money 101 program.

How to Apply for a Credit Card for Foreigners in Malaysia

For those who are finding it hard to get a credit card, this article might help. It’s nice and short so I’ll let you read it yourself.

Top 5 Mistakes People Made in Stock Investing

  1. Investing without a plan
  2. Investing becomes a game of chance
  3. Buy high, sell low
  4. Not treating stocks as a business
  5. Not starting small

I have personally been through all of these situations and I can tell you that it really hurts. Particularly with point 5. If you’re starting out, I highly suggest you put in an amount you’re going to be okay to lose and treat it as the price for education. Hopefully it’ll be less than what you had to pay for your school tuition.

Weekly Summary – September 26 2018 2

Ideas From Around the World

It’s Not About The Money, It’s About The Lifestyle

I think we get so caught up in wanting more all the time that we don’t step back to see the overall picture. Or even realize that we have it in our power ALREADY to craft a life we love before hitting our financial goals!

This author wrote this post after reading and reflecting the newsletter she received from another author. I won’t post the whole newsletter in here but this is a pretty important concept.

That’s what I want to talk about in this season of Adventure Tuesday: the idea of creating vs. consuming. I want to talk about how we, as humans, are consumers. We consume non-stop around the clock, and it impacts our mindsets, our health, our money and our relationships.
But we, as humans, are also creators. You might not think you create anything physical (and maybe you don’t really, aside from the meals you eat). However, you are a creative problem-solving human being, and that means you have a little more control over your life than you might currently believe.

We too, believe that money should be used to fuel our aspirations, for us to live our ideal lives. But having the money isn’t enough. It only gives you more options to create the life that you want. You still have to actively make the time for it.

So given where you are today, is there a way for you to start incorporating parts of your ideal life into the life you have now?

Saving for Tomorrow vs. Living for Today

The whole “save for tomorrow or live for today” dichotomy just seems silly to me. I live for today every single day of my life, and I save for tomorrow pretty hard, too. […]
I live for today every time I put down some relatively unimportant task and instead go to the park with my kids and toss a frisbee around with them. […]
I don’t need a flashy trip to live for today. I don’t need a huge house to live for today. I don’t need to do something dangerous to live for today. I have a ton of things in my life right now that are well worth living for today. […]
To put it simply, I save for tomorrow so I can live for today with almost no worry.

This piece really puts a lot of things in a different perspective. Here at MMM, one of our main messages is to get your money to create your ideal life. But we don’t really go into the ideal too much. Maybe it’s something you’d like us to explore more? If so, let us know in the facebook group!

How to use the Envelope System to save hundreds per month
This is a great system that I believe that many people had used to become rich. The only thing I’d change from this article is instead of having an envelope for each discretionary spending (one for eating out, one for bars, one for movies etc), I’d suggest keeping it to 5: one for your daily expenses (rent, bills, debt, groceries etc), one for fun (shopping, cafes, etc), one for skill growth (to speed up the amount you earn), one for your bucket list and one for buying back time.

This would make using the system much easier.

What You Can Control

One of the biggest challenges of personal finance is how much of it seems like it’s completely out of our control. We can’t control the personnel decisions of our boss. We can’t control whether cancer will strike us or our family members. We can’t control the weather. We can’t control the ups and downs of the stock market. We can’t control whether or not our car starts in the morning. […]

At the same time, there are many things in our life that are controllable, but it is sometimes difficult to do so. We want some particular item. We desire someone. We dream of a particular career. Those things are at least somewhat within our control, but getting there from here is prohibitively difficult, or else the reverse is true and controlling and tamping down that desire is really hard.

Spending time on things that you cannot control is not only a waste of your time, but such an energy drain. I’d rather focus on doing what I can so that I can make sure that those things that cannot be controlled do not happen again.

In other words, I’d rather focus on becoming so good at my job that other companies are lining up for me, allowing me to choose my boss. I’d rather focus on making sure I’m providing the best, healthy, delicious meals for my family so the chances of any diseases striking them are reduced. I rather create a scenario where I can be happy with however the weather decides to be that day. I rather create passive streams of income that can keep me comfortable regardless of the stock market’s performance. I rather get a grab / uber instead of trying to get a car to start.

Weekly Summary – September 26 2018 3

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.

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 themself 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.