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Have you ever had a disagreement with your partner about money? They say that financial issues are the leading cause of divorce.  The Department of Statistics Malaysia (DOSM) showed that divorce cases rose by 43.1% in 2022 during the COVID-19 pandemic . And while money can't buy happiness, it can certainly wreak havoc on your relationship if not managed properly. But how do we navigate talking about finances without potentially blowing a fuse in the relationship? Today, we’ll share some tips with you on how to talk about money with your partner  so you can successfully set financial goals as a couple.  Why Money Chats Matter  Initially, you may feel compelled to keep personal financial matters private—you stick with your own finances while your partner handles their own account. This might work for some; however, no matter how long you’ve been in a relationship, having an open conversation about finances is still important for a healthy romantic relationship. According to a Bread Financial study , 44% of couples responded that they wish they had more similar financial mindsets as their partners, while 20% prefer having different financial mindsets. Baby Boomers (54%) believe they are the most financially compatible with their partners, while Millennials (23%) claim the opposite. Think of it this way: You and your partner are a team. You can only reach your goals if both of you are on the same page. Sure, you may have different strategies, but in the end, your end goal is the same. And discussing finances together isn’t just about budgeting  or saving . It’s also about aligning your life goals and doing strategic financial planning  to reach your end goals. Figuring out the nitty-gritty of budgeting and expenses together can feel really overwhelming. So, here is a simple guide on how you can talk to your partner about your goals.  How to talk to Your Partner About Goals Begin by listing the financial goals that you have. Split them into two categories: Team Goals:  These are shared aspirations that both you and your partner share, such as buying a dream house, travelling, and investing in your children's or future children’s education. Individual Goals:  These are aspirations that fall under personal goals like starting your own business, joining a marathon, or anything that’s close to your heart. Whether your personal goal involves your partner or not, it’s alright to have them even when you’re in a relationship. Writing down these goals helps in visualising them and understanding each other’s aspirations better. It also sets the stage for an open discussion about your dreams and how to achieve them together. When you and your partner sit down to discuss money, there are a few ground rules you should follow: Rule 1: Listen Without Judgement Listen to your partner’s goal without judgement. Avoid ridiculing or running the guilt trip on them for having their own goals. Your partner’s goals and aspirations are part of their identity, so it’s important for you to respect them. Not giving your partner a safe space to share their dreams may make your partner resent you, which could harm your relationship in the long run.  Rule 2: Reassure Your Partner During your discussion, be sure to reassure your partner that they are still your priority. Clearly communicate that you want them to be a significant part of your life and that sharing your dreams with them is a way to deepen your connection. Your partner might feel apprehensive about some of your ideas, but you can balance your excitement with the reassurance of your commitment to them.  Be sure to share your goals and values with each other so that you can both settle on a common goal.  How to Set Financial Goals Together Step 1: List Your Goals in Detail Grab a pen and paper and list your goals in detail. Include what each goal means to you both as a couple, and as an individual. For example, a personal goal you might have is wanting to wear a Rolex watch because it makes you really proud of yourself. The goal of this exercise is for both of you to understand each other's core values and discover what motivates you and your partner to pursue these goals.  Step 2: Prioritise Which Goals Matter  The next step involves both of you deciding which goals to prioritize. Narrow down to three goals to focus on in the near future: one for both of you and one for each individual. For your team goal, it could be saving up for your wedding or buying a new home to start a family in. For the individual, it could be buying a watch or joining a club. Tip: If some of your partner's goals seem a little off track, now is the time to discuss the feasibility of achieving those goals. If you have any concerns about any of the goals, practice active listening and try to express your concerns to your partner in a respectful manner. Share your thoughts on why you believe the other goals are more important now. Remember that the goal of this conversation is to bring you together so that you can foster unity and work towards a common goal to strengthen your relationship.  Step 3: Identifying and planning Once you’ve narrowed down your priorities, talk about the resources you need to achieve your goals.  For example, if you are trying to plan a vacation together, you will need to decide on your lodging, possibly transportation or airlines, and your itinerary, which could include shopping, cafe hopping, or visiting tourist attractions.  Don’t forget to take into account non-financial factors such as applying for annual leave, and which month is best for your trip. For example, your partner may have a family tradition of celebrating Christmas together every year, which is a must-attend family event for your partner but may not be as important to you. The bottom line is that both of you will need to find a middle ground that you’ll both be happy with. Step 4: Evaluating and Prototyping The next step is to evaluate and prototype the scenario in which you both enjoy the goal or imagine how it might play out. You may discover that the resources are not worth the investment for those objectives. However, you may discover that those things are far more important than you previously thought.  Don’t skip out on this step because it will help you figure out whether it is really something both of you might want to work on. Assess the importance and feasibility of the objectives. Determine whether the resources spent on these goals are worthwhile and if they are consistent with your core values. Step 5: Review and Adjust Your Strategy   The final step in this process is to review and adjust your strategy. Repeat Step 3 for each of your other goals, and keep in mind that this will not be a one-time discussion. It could be an ongoing conversation as you both grow in your relationship. Be patient, and take your time to understand each other's perspectives. Additionally, this is not a one-size-fits-all approach, and know that it’s alright if your strategy or goals change over time.  For example, my partner and I had planned to buy a house, but after going through the process, we decided we wanted a property that we could personalise and truly make our own. So instead of rushing to buy an apartment or house, we decided to focus our efforts on investing  in the hope that we can accumulate sufficient funds to buy our dream home. To add on, we are also in a stage of our lives where we want to explore our hobbies and do some travelling, we’d rather channel our financial resources to these things than rush into buying a home. As a result, we came to a point where we could maintain our happiness and financial health. It helped us to understand that while a beautiful home is something that we want, it’s not urgent enough for us to own it right now. And there are other goals that we could go for instead.  Conclusion So if you have the time, I encourage you to take the time off this weekend to talk about finances with each other. Talking with your partner about money is a continuous process of self-discovery and mutual understanding. It helps you become close with each other as well. Remember that it’s about finding what’s truly important to each of you and how you can support one another in achieving those dreams. You may even find yourself rediscovering your priorities.  Subscribe to our   financial newsletter  for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

Market volatility is inevitable, and with the Fed keeping interest rates higher for longer, potential economic shifts are expected. While volatility is a natural part of the investment landscape, it can pose potential risks to your portfolios. However, with a bit of strategy, you’ll be able to brave the market storm to preserve your long-term goals. In this article, we’ll explore the basics of futures trading along with some practical tips for you to get started. What are Futures? According to Investopedia, futures are “financial agreements that obligate parties to buy or sell an asset at a predetermined date and price.” But what does this mean? Imagine futures as having confidence in the future price movement of an asset. Let’s use Gold as an example. If you’re confident that the price of gold will go up, you might look at a gold futures contract to purchase it at today’s price. Then, as the gold price increases over time, you can sell it at a higher price when the contract expires. On the other hand, if you think the price of gold will go down, you might look at a gold futures contract that agrees to sell it at today’s price in the future. You can then buy it back at a lower price, therefore making a profit. If you’re still confused, don’t worry. Let’s take a look at these simple scenarios: Scenario 1: Prediction of Price increase in Gold value Suppose a jewelry manufacturing company needs gold six months from now. The manager is uncertain about future gold prices but is satisfied with the current price. To avoid risk, the manager enters into a futures contract with another risk-averse supplier, agreeing to trade a specified amount of gold at the current price in six months. After three months, the price of gold rises. The seller can now sell the futures contract (not the actual gold) at the higher current price, thus gaining from the price difference. Financial markets provide enough liquidity for traders to trade these contracts at any time. Scenario 2: Incorrect Prediction where Price of Gold falls The same jewelry company and supplier agree to trade gold in six months at the current price. However, after three months, the price of gold falls. The buyer must still purchase the gold at the original higher price, resulting in a loss as they could have bought the gold cheaper at the new market price. Benefit: Accurate prediction results in acquiring more valuable gold. Risk: An incorrect prediction results in a loss due to trading gold at a higher price than the market value. Experienced investors use futures for hedging to manage risk, while many retail investors use them for short-term speculation to profit from price changes. Strategic Futures Trading Bear in mind that navigating the futures market requires more than just predicting market trends; it requires a strategic approach to risk management. So, here’s what you can do to skillfully approach futures trading: 1. Get acquainted with market dynamics You’ll have to take a very holistic approach to comprehending the market dynamics of your chosen asset. This includes supply and demand factors, geopolitical influences, and economic indicators. Awareness of what causes volatility in the futures markets of interest is very important. 2. Create a trading plan Think of this as a much higher level of the SMART goals, except instead of Specific, Measurable, Achievable, Relevant, Time-bound, it’s going to be a comprehensive trading plan that helps with your trading decisions in a methodical and disciplined manner. It would consist of investment objectives, risk tolerance, criteria for trade entry and exit, and money management strategies (What does that spell out? IRCM?). It not only helps you to stay disciplined and focused but also provides a framework for continuous improvement and learning. 3. Stay informed Financial markets are influenced by various factors, from economic data releases to geopolitical events. Staying aware of these developments and understanding their possible effects on the markets is crucial for making informed decisions. 4. Keep learning The futures trading landscape is complex and constantly changing. Staying educated about market trends, trading strategies, and financial instruments can improve your ability to skillfully navigate market volatility. Who is it for? With that being said, futures trading isn’t for everyone. It requires a nuanced approach, especially considering the complexity of it all. Of course, it still offers great opportunities for hedging and speculation, but it also comes with a higher level of risk compared to more straightforward investment vehicles like stocks or mutual funds. So, if you’re someone who is already trading in stocks or ETFs and looking to diversify your portfolios or hedge against market risks, this is for you. Open your Futures Account Today Speaking of, did you know that you can do futures trading with RHB? Not only that, but if you open a futures account with RHB right now, you’ll get: Zero Brokerage Fees: Enjoy zero brokerage fees up to RM500 on all online buys for the first 60 calendar days after opening your account. This offer runs till August 31, 2024. Exciting Prizes: By logging in and trading, you earn entries into a grand giveaway where you could be the lucky winner to drive home a brand new Perodua Ativa SUV or win amazing vouchers worth more than RM200,000 in total. This offer runs till 31 December 2024. Futures trading with RHB right now would mean no excess fees at the start and potential rewards just for participating. Click here to sign up: https://www.rhbtradesmart.com/campaign/mr-money-tv *This promotion is subject to terms and conditions. The Bottom line If you're curious about futures trading and ready to put in the work to understand it, there's potential to make it work in your favour and RHB has just the right tools to get you started. Just remember, it's all about staying informed, sticking to your plan, and keeping a cool head. And with offers like RHB's, getting started might just be a bit sweeter. Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

When you think of Apple, what's the first thing that comes to mind? Probably the iPhone, right? Well, you're not alone. The iPhone is a big business for Apple, bringing in $383.2 billion-worth of revenue in 2023. That's a lot of money! In fact, in 2022 alone, they sold a whopping 232 million iPhones, 61 million iPads, and 26 million Macs! But Apple's not just about hardware anymore. Services like Apple Music, iCloud, and the App Store are also becoming a bigger slice of Apple's financial pie. In the beginning of 2024, these services brought in more than 19% of Apple's total revenue. That's a significant increase compared to earlier years. It shows that Apple is not just about selling gadgets anymore. But speaking of gadgets, the iPhone is still the king of Apple's revenue. In the early part of 2024, iPhone sales made up a whopping 58.3% of all the money Apple raked in. That's not surprising, considering how popular iPhones are worldwide. Even though other products like the Apple Watch and the iTunes Store are making more money than before, the iPhone remains Apple's cash cow. However, there's a bit of a bump in the road, particularly in China. Apple's iPhone sales there dropped by 24% in the first six weeks of 2024 compared to the same period in 2023. That's a big hit! It means Apple's market share in China went down from 19% in 2023 to 16% in 2024. China is a massive market for Apple, so this decline could be a cause for concern. Now, considering Apple's resilience and consistent outperformance in the market, it's natural to wonder whether investing in AAPL stocks remains a wise decision. The Apple Inc. stock (APPL stock) has been on a tear lately, jumping 52% since the beginning of 2023. This impressive growth comes despite tough economic times and a slight revenue dip in the same year. Why the hype? Well, Apple has a knack for staying strong when others falter. Even when things get rough, Apple manages to outshine its competitors. Just look at its stock performance over the past five years - it's been consistently impressive. But it's not all smooth sailing. Recent challenges could mean bumps in the road ahead for Apple's stock. So, should you consider buying AAPL stocks? APPL's Strength and Future Potential Brand Allegiance Amplification:   People love Apple products, and surveys show that a vast majority of iPhone users plan to stick with the brand for their next smartphone. A study by ZipDo found that a huge 92% of iPhone owners are planning to stick with Apple for their next phone purchase. This means that once people start using Apple products, they tend to stick with them. Apple's luxury branding and ecosystem of services keep customers coming back for more, which is good news for investors. Transitioning from Hardware to Scalable Software Solutions:   Apple's not just about gadgets anymore. They're diving deep into services like the App Store and Apple Music, and it's paying off big time. In 2023, these services brought in a whopping 22% of Apple's revenue, making it the second largest division within the company. With 88 million subscribers jamming out on Apple Music and over 75 million tuning in to Apple TV+, these services are becoming serious money-makers for Apple, giving them a diverse income beyond just selling hardware. Financial Vigor and Flexibility:   With over $166 billion in cash reserves, Apple has plenty of resources to invest in new products and services. Its strong balance sheet also gives it a safety net during tough economic times. Prolonged Growth Strategy:  Despite facing some challenges, Apple remains a solid bet for long-term growth. Sure, there have been some bumps in the road, like declining sales and rumors of iPhones being banned in Chinese workplaces. But Apple's not one to back down easily. They're always innovating and investing in new technologies, like digital services. So, while there might be some tough times ahead, Apple's history of bouncing back and their focus on the future suggests they're still in a good position for growth. Dominant Brand Influence:  Apple is not just any tech company; it's already the world's most valuable company. With a reputation for quality products and exceptional customer service, Apple stands tall as one of the most valuable brands globally. Its name alone commands respect and recognition, giving it a significant edge in the fiercely competitive tech industry. So, it's not just about the iPhones and MacBooks; it's about the trust and loyalty that Apple has earned over the years, making it a powerhouse in the market. Risks and Considerations for Investing in Apple Revenue Vulnerability to iPhone Dependency:   Apple makes a big chunk of its money from selling iPhones. If people stop buying iPhones as much, it could hurt Apple's profits. Revenue Vulnerability to iPhone Dependency:   China is a huge market for Apple, but it's also a tricky one. In the first six weeks of 2024, smartphone sales in China dropped by 7% compared to the previous year. This decline affected major brands like Apple, OPPO, and vivo, which all experienced double-digit decreases in their sales, according to Counterpoint Research. There have also been issues like factory shutdowns and government regulations that could affect Apple's business in China. Valuation Apprehensions:   Some experts are worried that Apple's stock might be too pricey when compared to how much money the company is actually making. As of March 2024, Apple has a market capitalization of $2.626 trillion, which means it's the world's second most valuable company by market value. Market capitalization is just a fancy way of saying how much the whole company is worth. But here's the thing: if a stock's price is too high, it might not leave much room for the stock to grow in the future.  Diminished Growth Projections:   Apple's growth might not be as speedy as it used to be. Experts think that Apple's profits won't increase as much in the future, mainly because smartphone sales are slowing down. According to Counterpoint Research, in 2024, Apple's sales might only grow by around 3%, which is not a huge jump. While things might be a bit tough in North America, there's hope for growth in other places, especially in emerging economies where people are starting to spend more on high-end products, like Apple's. So, even though Apple might not be growing as fast as before, there's still potential for some growth in the future. Heightened Competitive Landscape and Innovation Dynamics:   Other companies are always trying to outdo Apple with new and better products. If Apple can't keep up with the competition, it might lose customers and money. Conclusion Deciding whether to invest in Apple stocks isn't just about looking at the shiny gadgets or the big numbers. It's about understanding the risks and rewards and what's best for your own financial goals. Apple has its strengths, like loyal customers and a strong balance sheet, but it also has its challenges, like dependence on iPhone sales and competition from other tech giants. Before diving into investing in Apple or any other stock, take the time to do your homework. Consider your own financial situation, how much risk you're comfortable with, and whether Apple fits into your long-term investment strategy. Ultimately, investing is a personal decision, and it's essential to make informed choices that align with your goals and values. So, whether you're bullish on Apple or cautious about its prospects, remember to stay informed and make decisions that are right for you. Bonus If you're seeking a platform to begin your journey on stock investment, you could explore M+ Global,  a trading platform by Malacca Securities. With its innovative features and extensive market coverage, including access to renowned markets like the United States and Hong Kong, M+ Global offers an ideal avenue to invest in stocks such as Apple and more. Its user-friendly interface ensures a seamless trading experience, while the option to trade using Malaysian Ringgit (MYR) adds convenience. Moreover, benefit from dedicated customer support with over 200 licensed dealer representatives available to address any queries or concerns.  Plus, for a limited time only until April 30th, deposit RM2,000 and receive 5 free Grab shares ! This is an exclusive offer you don't want to miss. Whether you're eyeing Apple or other top stocks, M+ Global  equips you with the tools and resources to make informed investment decisions. Make sure to use code: T30E . Start your journey towards financial growth and success today with  M+ Global .

Ah, Valentine’s Day in Malaysia. A day when love is in the air, and the pressure to spend is everywhere. But fear not, whether you’re single, tangled up, or somewhere in between, we’ve got you covered with some financial planning tips and budget-friendly date ideas to keep both your heart and wallet full. Here's the comprehensive list, jump to the section that most applies to you! (We weren't joking when we said 'every stage of your love life'). For the Singles: You’re not single; you’re just in a committed relationship with your finances. Congratulations, you two are perfect for each other! Now in order to keep this relationship well and healthy, we have a few suggestions for you. Allocate some money to personal development, wellness, or discover new hobbies and passions, like: 1. Gym Memberships Invest in your physical and mental well-being with a gym membership. Here are a list of options for you to choose from: Pro tip: Considering your finesse skills, you can actually bargain your gym membership costs. Be in control of the love you’re pouring into yourself emotionally and financially. If you feel like there’s something lacking, it’s a sign that it might be time for a change. 2. Self-development Take part in activities that stimulate and enrich your mind, like: Pro tip: Bring your friend along or make new friends there! This Valentine’s Day, splurge on the one who truly deserves it: you. For Situationships: If defining the relationship is more complex than Add Maths, maybe it’s best to keep V-day lowkey. Movie night at home, perhaps? It’s easy, affordable and free of any relationship-defining implications. Pro tip: Take advantage of V-Day and finally ask where the relationship is going, but you have to be ready for the answer, otherwise don't ask! For New Relationships By new relationships, we mean like a 2-3 months long. If you're only three dates in, then maybe you should skip out on V-Day. But if you've already DTF (defined the relationship) plus said the L word and all of that, here's what we suggest: Pro tip: Talk about your expectations for V-Day to make sure you're both on the same page! For Struggling Relationships If your love life needs CPR, forget your wallet! It's time for genuine, heartfelt gestures. Small gestures usually speak volumes. Think back to what made two get together in the first place and put those memories to paper. Consider making a scrapbook with pictures of significant moments you and your partner shared together to reignite the spark. For Committed Relationships In a committed relationship and feeling like your partner might not be seeing the big, flashing "I'm ready for more" signs you have up? Don't worry, we got you! Here are some ways to make your intentions clear, without making your partner run away: Finally, for the Married There's only one thing parents want on Valentine's Day. Alone time in the bedroom to finally get some good quality sleep. What were you thinking? Happy Valentine's Day from Mr Money Tv! There you have it — a Valentine's Day survival guide for every type of relationship in Malaysia, from the blissfully unattached to the happily tangled. Remember, whether you're swiping right, dropping hints for something more, or just trying to catch some Z's away from your kids, the best V-Day is the one that makes you happy!

If there's one thing we’ve been emphasising on Mr Money TV, is that we are in an era where financial stability is essential, and the need for a second stream of income has become more than just a desire; it's a necessity. The global economic landscape is fraught with uncertainties, and relying solely on a single income source can leave one vulnerable to financial shocks. In this pursuit of financial resilience, investing in companies listed on stock markets can provide a viable pathway to passive income generation and long-term wealth accumulation. The Malaysian stock markets offer a diverse array of investment opportunities catering to varying risk appetites and investment horizons. Two prominent segments within Malaysia's stock exchanges are the ACE Market and the Main Market, each tailored to accommodate different types of companies and investors. Understanding the nuances of these markets is crucial for making informed investment decisions that align with one's financial goals and risk tolerance. The Main Market: Steady Growth and Established Players The Main Market of Bursa Malaysia serves as the premier platform for larger, well-established companies with a proven track record. These companies typically exhibit lower perceived risk due to their long-standing presence and robust operational frameworks. Investors often gravitate towards the Main Market for its stability and the assurance of investing in companies with a history of delivering consistent returns. Criteria for listing on the Main Market are stringent, requiring companies to meet rigorous financial standards, including minimum market capitalization, profitability, and corporate governance benchmarks. Such criteria serve as a safeguard for investors, instilling confidence in the reliability and transparency of companies listed on this prestigious platform. Moreover, the Main Market offers superior liquidity, facilitating smoother trading activities and minimizing price volatility, thereby enhancing investor confidence. The ACE Market: Nurturing Emerging Ventures Amidst Higher Risks In contrast, the ACE Market caters to small and medium-sized enterprises (SMEs) seeking capital infusion to fuel their growth trajectory. These companies typically possess limited operating history and may operate in nascent industries or innovative sectors. While the ACE Market provides a vital platform for emerging ventures to access funding, it also entails higher inherent risks for investors. Listing requirements for the ACE Market are comparatively more lenient, allowing early-stage companies to access capital markets despite their limited financial performance or operational history. However, this leniency comes with a trade-off, exposing investors to greater volatility and uncertainty regarding the future prospects of ACE Market-listed companies. Despite the potential for higher returns, investing in ACE Market shares necessitates a higher risk tolerance and a thorough understanding of the dynamics inherent to early-stage ventures. Personal Perspective: Navigating Between Risk and Reward In my investment journey, I've found myself inclined towards the stability and reliability offered by the Main Market. While the allure of higher returns in the ACE Market is undeniable, I prioritize minimizing risk and preserving capital over chasing speculative gains. The stringent listing requirements and established reputation of companies on the Main Market instill a sense of confidence, aligning with my investment philosophy of seeking sustainable growth over the long term. Striking a Balance for Financial Growth In conclusion, the ACE Market and Main Market in Malaysia present distinct avenues for investors to diversify their portfolios and pursue passive income generation. While the Main Market offers stability and liquidity, the ACE Market beckons with the promise of higher returns albeit accompanied by heightened risks. As investors, striking a balance between risk and reward is paramount, aligning our investment decisions with our financial goals and risk tolerance. By leveraging the opportunities afforded by both markets judiciously, we can embark on a path towards financial growth and resilience in an ever-evolving economic landscape.

In this day and age, it is crucial to recognise the importance in building an investment portfolio. Why, you may ask? Today’s economic landscape shows that having multiple streams of income is not just a luxury, but a necessity. Just like many countries, Malaysia is navigating through economic uncertainties. Fluctuating markets and constant evolution of consumer behaviours are leading individuals to realise the importance and significance of securing their financial future. Building an investment portfolio gives us the opportunity to mitigate risks that come with relying solely on one source of income. I personally have a second source of income from investing in the Malaysian stock market. Growing up in a household where both my parents are chartered accountants, it has been engraved in our heads that having a sense of security with money is crucial. And let’s be real, the stereotypes for accountants are that they are not willing to be risk takers. This is why our investments have always been conducted more traditionally— through stock brokers. At the age I’m at now, I have peers who are getting into investing and broadening their investment portfolio. However, most of them do it on their own through digital platforms or apps instead, which got me thinking if I should consider making that switch too. I have also been pondering on the thought of expanding my portfolio by investing in the United States stock market. However, I have not been able to find a platform that makes it easy to navigate around. Upon my personal research, there are many applications out there to choose from, but one particular platform that stood out to me is M+ Global. M+ Global is an integrated trading platform based in Malaysia (started by Malacca Securities) that provides you access to markets in the United States and Hong Kong as well. This platform patches the gap for investors to conveniently diversify their investment portfolios and take advantage of the many opportunities in an array of markets. Users are able to perform and execute trades, monitor market trends, as well as manage their investments efficiently all on M+ Global. Sounds pretty easy and straightforward, huh? Not only does it facilitate the needs of both experienced and new traders, but it also provides you with the necessary tools and resources to make informed investment decisions. You can refer to this article on a comprehensive review on M+ Global here, including a step-by-step guide to creating an account! With that said, are you also interested in building an investment portfolio but you’re unsure where or how to start? Today may just be your lucky day, because I’ve discovered a little secret that I would love to share with you. You can get a cash voucher upon signing up with M+ Global! With the Chinese New Year festivities approaching, Malacca Securities is ushering in abundance with their “CNY Angpau Rush Campaign''. In conjunction with celebrating their 60th anniversary, Malacca Securities is spreading prosperity by giving away an auspicious total of 168,888 angpaus. You heard me. 168,888 angpaus. From 9 - 14 February 2024, new users of M+ Global can claim an angpau containing a cash voucher that is worth up to USD 88.88! All you have to do is sign up for an account and remember to type in this invitation code: T30E. It does not stop there, fellow traders! You can also claim an additional angpau with a discount voucher by sharing the campaign on your social media pages via the CNY Angpau Rush Activity page. Do ensure that your M+ Global app has been updated to the latest version. My personal opinion between trading via an app vs. going through a stockbroker In my opinion, trading through an app and going through the traditional way with stockbrokers offers a list of benefits that are distinguishable, and it really depends on your trading styles. After using M+ Global for some time now, I understand that some investors may prefer the convenience and cost-effectiveness of using trading apps, while others may value the personalised advice and expertise offered by stockbrokers instead. Which will I pick? I am currently keeping my long term relationship with my stock broker, and will be utilising M+ Global for my international trades in the United States and Hong Kong instead. That way, I get the best of both worlds. Since I’ve already been an existing user of the M+ Global app, I’m also eligible to claim my angpau. All you have to do is go to the Activity page > Open Angpau in the M+ Global app. And for those who are beginning on their journey to trade, fasten your seatbelts because M+ Global has just the tools you need to accelerate your trading potential and embark on your investment journey with confidence! Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

The Employee Provident Fund (EPF) or Kumpulan Wang Simpanan Pekerja (KWSP) is Malaysia's primary retirement savings platform for salaried individuals. However, what about those who are self-employed or working on a freelance basis? Are they left out of this critical financial safety net? The answer is no, thanks to the introduction of i-Saraan, an initiative by EPF to cater to the self-employed and those without fixed incomes. This article delves into the i-Saraan program and how self-employed individuals or freelancers can benefit from it. What is EPF i-Saraan? According to EPF, ​​i-Saraan is a voluntary contribution initiative that offers an opportunity for self-employed members without fixed incomes and employees of the gig economy to obtain exclusive government incentives for retirement purposes, subject to the established requirements. When you register for an i-Saraan account, it is pretty much the same as having a regular EPF account. You will have both Account 1 and Account 2 as well as receive the same dividends as members who are salaried employees. And just like a regular EPF account, you will not be able to withdraw the funds once you’ve deposited them into your account. What are the benefits of i-Saraan? Annual Dividend Enjoy annual dividends on top of your retirement savings. For the past 10 years, the average dividend rates have been 6.035% for the conventional account and 5.43% for the Syariah account. Special Incentive Following government terms and conditions, the government will give an additional 15% incentive of the total contribution capped at RM300 in the current year. According to EPF, the Special Incentive Payment will be credited into Account 1 of the Member two times namely: a) For the period of January to June contribution, the incentive payment will be credited into the Member's Account after July; b) For the contribution period of July to December, the incentive payment will be credited into the Member's Account after January of the following year. Tax Exemption Subject to Inland Revenue Board (IRB) terms and conditions. Death Benefit Subject to EPF terms and conditions. What’s the difference between i-Saraan and Self-Contribution? Both are essentially the same whereby it’s a form of voluntary contribution to EPF. However, the difference is that i-Saraan is catered specifically for those who are self-employed or freelancers whereas Self Contribution allows members who are salaried employees to contribute additional funds into their EPF account. Who is eligible for EPF i-Saraan? Farmers/Fishermen/Taxi Drivers Small Business Owners/Hawkers/Night Market Traders Babysitters Commission-receiving agents (e.g. insurance agents, real estate agents) Freelancers (e.g. those who receive payment for services including deejays, singers, actors, fitness instructors, and consultants) Business Owners (sole proprietors/partners) involved in the trading of goods and services Online Business Owners Professionals with their own practice (e.g. accountants, doctors, lawyers) Housewives Pensionable Employees How to contribute to EPF i-Saraan as a freelancer or self-employed individual? Requirements For EPF i-Saraan ​​Malaysian Citizen Below 60 years of age Registered EPF Member Self-employed individuals​​ (who derive income from their own work and are not an employee) Opted to contribute under i-Saraan Payment Limit For EPF i-Saraan Minimum: No limit (subject to payment channel). Maximum: RM100,000 per year. How To Register For EPF i-Saraan? 1. EPF Website Registration: i-Saraan Online Registration 2. EPF Counter or Self-Service Counter: Visit your nearest EPF office. Fill in the Borang Permohonan Caruman Sukarela i-Saraan [KWSP 16G (M)]. Bring your MyKad. 3. Mobile App Download the KWSP i-Akaun app. Register as an EPF member. Register for i-Saraan through the app. How To Deposit Funds Into EPF i-Saraan? KWSP i-Akaun mobile app Internet banking BSN (registered bank agent) via electronic payment or cash Bank agent counters (BSN, Maybank, Public Bank, RHB Bank) EPF Counters Mobile Team/Mini Outreach Team FAQ About EPF i-Saraan 1. Can I request a refund of my i-Saraan Contribution? You can't do that at all. Each and every amount of i-Saraan Contribution paid into EPF is valid and final. As a result, members are obligated to check that the payment details are accurate before completing the transaction. 2. Is it allowed for me to contribute more than the maximum amount? No, you can't do it. Contributions that exceed the maximum limit will be refunded to members. 3. What happens if I make an i-Saraan Contribution payment after the age of 55? All contributions received after the member reaches the age of 55 are deposited into Akaun Emas and can only be withdrawn after the member reaches the age of 60. Why is it important for you to start saving for your retirement? For freelancers and self-employed individuals, the journey to financial stability can often be challenging, with income streams that might fluctuate and lack the conventional safety nets provided to salaried employees. Saving for retirement is paramount, ensuring you can maintain a comfortable lifestyle even when regular income ceases. The introduction of EPF's i-Saraan offers a beacon of hope. Not only does it provide a structured way to save, but it also offers a slew of benefits all aimed at magnifying your retirement savings. Initiatives like these underscore the importance of starting early and leveraging available resources to secure a financially stable future, regardless of your employment status. In a world where the gig economy and freelance work are becoming increasingly prevalent, tools like i-Saraan are not just helpful; they're essential. Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

In the dynamic world of investments, the allure of daily returns is compelling. Think of Touch ‘n Go GO+ where your funds will accrue daily interest or StashAway Simple, which works the same way. Speaking of investments, Moomoo has recently made its debut in Malaysia, bringing with it an exciting opportunity for free money. If this is up your alley, dive into the details below to discover what MooMoo has in store for you - and it's a lot! The one thing in common for both of these products (Touch ‘n Go GO+ and StashAway Simple) is that their primary investment vehicle is Money Market Funds (MMFs). These funds invest in highly liquid, short-term instruments, such as treasury bills and commercial papers, offering investors a unique blend of low risk and high liquidity. What makes MMFs particularly appealing is their ability to provide returns on a daily basis, making them an excellent choice for investors seeking stability alongside immediate income. Now that you have a better understanding of the mechanism behind these sorts of investments, let’s delve into the top 3 investments with daily returns, that are highly liquid and low-risk in Malaysia. 1. Touch n’ Go GO+ What Is Touch n’ Go GO+? According to TNG, GO+ is a Touch ’n Go eWallet feature which allows the balance in your GO+ account to earn potential returns. The underlying fund for GO+ is Principal e-Cash – a Shariah-compliant Money Market Fund managed by Principal Asset Management Berhad that aims to provide investors with liquidity and income. However, do note that it is neither capital guaranteed nor capital protected by PIDM. Benefits of Touch n’ Go GO+ Easy and fast to open the GO+ account Seamlessly reload into your Touch ‘n Go eWallet balance via Quick Reload Payment Earn daily returns Make cash-out requests anytime you like Daily Return Rate of Touch n’ Go GO+ 3.45% p.a. Minimum & Maximum Deposit for Touch n’ Go GO+ Minimum Deposit: RM10 Maximum Deposit: RM9,500 Fees Involved in Touch n’ Go GO+ Zero sales, cash-in or cash-out charges. Management fee: Up to 0.45% per annum. Trustee Fee: Up to 0.03% per annum. The daily returns you receive are after all deductions of all fees and charges. How To Open A Touch n’ Go GO+ Account? Download the Touch n’ Go mobile application and open an account. Click on the Upgrade Now icon in Touch 'n Go eWallet. Complete account verification (Submit your ID and personal details) Update your personal details on Touch 'n Go eWallet. Receive verification that your upgrade is successful, and begin to Cash In to GO+. 2. Versa Save (Versa Cash/Versa Cash-i) What Is Versa Save? According to Versa, Versa Cash and Versa Cash-i (Syariah-compliant fund) are their low-risk savings funds. The funds are strategically allocated to provide competitive returns on par with Fixed Deposits, with the freedom to cash out anytime. Versa Cash invests in a specific Money Market Fund called AHAM Enhanced Deposit Fund which only invests in low-risk assets – short-term deposits in multiple Malaysian banks. Unlike Fixed Deposits which only offer basic interest, Versa Cash offers interest that is compounded daily. You can also withdraw anytime with all the interest earned and with no penalties! However, do note that the fund is not protected by PIDM but is regulated by the Securities Commission Malaysia. Benefits of Versa Save (Versa Cash/Versa Cash-i) No lock-in periods: Access your savings anytime with the flexibility to cash in and out without penalties. Low and transparent fees: Enjoy zero fees with no hidden charges. Competitive returns: Expect returns that are on par if not more than Fixed Deposits rates in the market. Daily Return Rate of Versa Save Versa Cash: 3.82% p.a. Versa Cash-i: 3.28% p.a. Currently, they are offering a net return rate promotion of up to 4.3% p.a. for both products under Versa Save. Minimum & Maximum Deposit for Versa Save (Versa Cash/Versa Cash-i) Minimum Deposit: RM10 Maximum Deposit: None Fees Involved in Versa Save (Versa Cash/Versa Cash-i) Zero sales and redemption fee. Management fee: 0.30% p.a. Trustee Fee: 0.05% p.a. How To Open A Versa Save (Versa Cash/Versa Cash-i) Account? Download the Versa mobile application. Take a quick Suitability Assessment Test to find out the type of investor you are. Verify your Versa Account through your mobile number and eKYC. Confirm personal details. Select “Versa Save” and choose either Versa Cash or Versa Cash-i. Make a deposit and start earning daily! 3. StashAway Simple What Is StashAway Simple? According to StashAway, StashAway Simple is an ultra-low-risk cash management portfolio. The underlying fund of StashAway Simple is the Eastspring Investments Islamic Income Fund. Unlike fixed deposit accounts that require a minimum lock-up period, you can withdraw from StashAway Simple at any time. In addition, your Simple portfolio is made up of ultra-low-risk assets but is not insured. Benefits of StashAway Simple No limit on the amount that can earn the projected rate No investment, insurance, or salary requirements Prepare for short-term liquidity needs Daily Return Rate of StashAway Simple 3.8% p.a. The StashAway Simple portfolio earns returns in three ways. Monthly Dividends: You’ll earn monthly dividends and they’ll be paid out each month. Capital Appreciation: The value of your funds in StashAway Simple will increase as the underlying fund appreciates in value. This updates daily from Tuesday to Saturday, excluding public holidays in Malaysia. Quarterly Rebates: StashAway receive rebates from the underlying fund manager and returns 100% of them back to you. The rebates make up approximately 0.175% of the projected return. You’ll see them credited into your portfolio after the end of each quarter. Minimum & Maximum Deposit for StashAway Simple Minimum Deposit: RM1 Maximum Deposit: None Fees Involved in StashAway Simple Annual Fee: Free Underlying fund manager net fee: 0.115% (embedded in the projected rate) How To Open A StashAway Simple Account? Download the StashAway mobile application. Create an account and verify your identification. Open a “StashAway Simple” portfolio and start earning! Should You Invest Your Money in Money Market Funds Versus Other Investments? Deciding whether to invest or save your money in Money Market Funds (MMFs) in comparison to other investment vehicles can be a bit like choosing your favourite ice cream flavour – each has its own appeal and it really depends on your taste or, in this case, your financial goals and risk appetite. Let's compare Money Market Funds with two other popular options: Fixed Deposits and Stock Market Investing. Money Market Funds like Touch ‘n Go GO+, Versa Save, and StashAway Simple are like the vanilla flavour of investments – they're straightforward and reliable. They give you daily returns, which is like getting a small scoop of ice cream every day. They are highly liquid, meaning you can withdraw your money easily, and they're low-risk. However, the returns are usually lower than what you might get from riskier investments. Fixed Deposits, on the other hand, are more like a chocolate flavour – a classic choice. They offer stability and a guaranteed return, but your money is locked away for a set period. You won’t have the daily returns like with MMFs, but often the overall return can be quite competitive. However, if you need your money back before the term ends, you might face penalties. Stock Market Investing is like a rocky road – it can be thrilling but bumpy. The potential returns can be much higher, but so is the risk. Your investment can grow significantly, but it can also drop just as quickly. Unlike MMFs, the stock market doesn’t offer the same level of liquidity or stability. So, should you invest in Money Market Funds? If you value stability, need regular access to your funds, and prefer a lower-risk option, then yes, MMFs could be a great fit for you. They offer the peace of mind that comes with knowing you're earning a little bit every day, and you can pull out your money whenever you need it. However, if you're looking for higher returns and are comfortable with more risk, or if you don't need immediate access to your cash, exploring fixed deposits or stock market investments could be more up your alley. In the end, it's all about what works best for you. Whether it's the daily rewards of MMFs, the stability of fixed deposits, or the exciting potential of the stock market, there's an investment flavour out there for everyone. Don't forget the cherry on top! Moomoo's launch in Malaysia introduces an exciting and much anticipated opportunity for Malaysian investors looking to diversify their portfolios. If you haven't heard of Moomoo, it's a platform that lets users buy and sell stocks, options, ETFs, and other financial products from around the world. With Moomoo coming to Malaysia, it offers many tools that are easy to use for both beginners and experienced investors. But the important part here is you can't have a big launch without big rewards, right? So, here's the deal: Sign Up & Deposit: By simply signing up and depositing RM 500, you're rewarded with an RM 100 cash voucher. Go Big or Go Home: But if you deposit RM 8,000 not only do you secure another RM 100 cash voucher but also a FREE APPLE share worth RM 900. Time Frame: This offer is only available from 26th February 2024 to 31st March 2024, giving you enough time to get into the investing scene. Additional Perks for Opening an Account with Moomoo: 1. Enjoy a 180-day $0 commission fee period for trading on both the US and Bursa stock markets, essentially lowering the barrier to international and local market entries for you. 2. Gain access to premium market data with 60 depth levels for US stocks and 5 depth levels for Bursa Malaysia stocks. Talk about empowering you with in-depth market insights! To get started and unlock these rewards, simply use this exclusive link: tinyurl.com/flmm24 Wait are you waiting for? Download the Moomoo app from the App Store or Google Play now and start exploring your investment options today! Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

The recent announcement of the pilot test for the Progressive Wage Model (PWM) Policy by Economy Minister Rafizi Ramli is a significant development, particularly for businesses like mine in the micro, small, and medium-sized enterprise (MSME) sector. In this article, I’ll reveal what I think of it, some reservations I have and also compare Malaysia’s proposed Progressive Wage Model Policy to Singapore’s – which our government has taken inspiration from. Rafizi Ramli’s tabling of the Progressive Wage Model Policy Just last week, Economy Minister Rafizi Ramli tabled the Progressive Wage Model (PWM) Policy in parliament which marks a significant step in addressing wage disparities and enhancing the Malaysian workforce's skillset. Scheduled to begin with a dry run from June to September 2024, this voluntary pilot program will involve 1,000 micro, small, and medium-sized enterprises (MSMEs) companies, with a focus on those having workers earning between RM1,500 and RM4,999 to resolve any teething or operational issues before the official roll-out. Participating employers will receive financial incentives from the government for up to 12 months, amounting to RM200 monthly for each entry-level employee and RM300 for non-entry-level workers. The incentives are contingent upon employers submitting documentation for their staff’s participation in government-certified training programs, enhancing skills and productivity.` However, it’s noteworthy that workers from multinational and government-linked companies are exempt from this scheme. Rafizi also announced an allocation of RM30 million for the program, targeting entry-level graduates, semi-skilled Malaysians, and companies disadvantaged in the current labour market​​. He emphasized that it was the government's responsibility to ensure that each ringgit allocated effectively improves the labour market, pay structure, and, crucially, the skilled talent in the economy​​. What is the Progressive Wage Model Policy and how does it work in Malaysia? According to CNA, Malaysia’s PWM takes inspiration from Singapore’s Progressive Wage Model. It is implemented and identified in specified sectors, where a multi-year salary increment schedule is set out for workers in tandem with skills acquisition on their part. Essentially what this means is that as workers develop and acquire new skills, their wages are scheduled to rise accordingly. How exactly it will work in Malaysia is unsure yet as more fine-tuning will be required once the pilot test commences. However, if we were to reference Singapore, here are a few things we can expect. According to the Ministry of Manpower in Singapore: The Purpose of PWM To increase the wages of workers in Singapore by enhancing workers’ skills and improving their productivity. Similarly in Malaysia, the PWM would serve the same purpose. Additionally, Rafizi mentioned that the policy will not only upskill workers and provide them with higher salaries, but it will also increase their purchasing power (something crucial during these times of higher cost of living) which gives a multiplier effect on the broader consumption and private investments landscape in Malaysia. Tripartite Development The model in Singapore is developed collaboratively by unions, employers, and the government to uplift lower-wage workers. I think we can expect the same to be done in Malaysia. According to Human Resources Online, it’s said that the government will work closely with employers' associations to encourage the participation of employers from all sectors by expanding access to digital platforms to obtain information related to the Progressive Wage Policy, including the participation procedure and its advantages. The government will also look to engage in face-to-face and online information sessions to raise awareness among employers and employees about the importance and advantages of the Progressive Wage Policy. Employer Compliance and Beneficiaries In Singapore, the PWM is mandatory for employers, including those hiring foreign workers, to meet PWM requirements for local employees. It targets Singapore citizens and permanent residents employed full-time or part-time under a contract of service. According to the proposed Progressive Wage Policy in Malaysia, the implementation of the Progressive Wage Policy is not mandatory and will not be part of any new Act. Companies interested in adopting the Policy can be voluntarily registered through the online application system. Only 'Progressive Wage Employers' will be considered for incentives and must meet the specified conditions. Multinational companies are not included in the category of eligible companies to receive incentives since the company can afford to pay wages on a competitive level and can attract and retain talent compared to MSMEs. Government-related companies are also not covered since most of the employees are paid a more competitive salary and some companies accept allocations from the government. Sector Expansion PWM in Singapore covers sectors like cleaning, security, retail, in-house cleaning, landscape maintenance, food services, administrators, drivers, and waste management. So far, the plan in Malaysia is to only include entry-level and non-entry-level employee groups of companies who volunteer to be a part of the Policy. What are the benefits of the Progressive Wage Model for Malaysian employees, employers and MSMEs? The potential impact of the Progressive Wage Model on Malaysians is multifaceted. 1. Enhanced Living Standards for Low-Wage Workers By increasing wages in tandem with skill development and productivity, the PWM has the potential to significantly improve the living standards of low-wage workers. This uplift in income can lead to a better quality of life, enhanced financial security, and reduced poverty levels. 2. Skill Development and Career Progression The PWM encourages workers to engage in skill development programs, which could lead to better career opportunities and job security. This emphasis on skills training can make the workforce more adaptable and resilient in the face of changing economic landscapes. 3. Boost in Overall Productivity With a more skilled workforce, companies can expect to see a rise in productivity. This increase in efficiency can contribute to the overall growth of the economy, potentially leading to more job opportunities and higher wages across various sectors. 4. Economic Inclusivity The PWM aims to narrow the income gap, promoting a more inclusive economy where growth benefits a wider segment of the population. By targeting MSMEs, which comprise a significant portion of the Malaysian economy, the policy has the potential to enact broad-based economic improvements. 5. Unlock Business Growth Potential The PWM offers a robust avenue for business growth by fostering a skilled and productive workforce. By attracting and retaining top talent, businesses can benefit from increased loyalty and market performance. This aids in long-term strategic positioning and sustainability for businesses. PWM Policy: My Perspective As A Malaysian MSME Business Owner Personally, as someone who runs an MSME business, the Progressive Wage Model (PWM) strikes a chord with me. I like how this initiative links wages to the skills and productivity of employees, and it’s not just about ensuring higher pay; it's about cultivating a workforce that's more skilled and thus more productive. In my experience, a team with better skills not only works more efficiently but also contributes significantly to the growth of the business – something good for me and other business owners out there. Recently, I found that to ensure an employee stays driven and loyal, there are two great motivators: higher wages and career progression – both of which are being addressed by the PWM. Yet, in the current minimum wage system, finding a balance between fair compensation, maintaining the company's financial health, and investing in the skill development of my team presents a complex puzzle. My company is somewhat still in its infancy, it is a start-up after all, so it’s difficult for me to offer highly competitive wages (like GLCs and MNCs) to attract the top talents. Of course, this is not to say that my team isn’t getting fair wages, in fact, I do try to pay them higher than the market rates but I still find it hard to strike a balance between sustaining the financial stability of my business while also investing in upskilling my team. While I wholeheartedly support the spirit of the PWM, I do have some reservations. For instance, the financial incentives offered (between RM200 and RM300 per employee) are a step in the right direction, but I wonder if they are sufficient to make a meaningful impact. Furthermore, the success of such a program in the ever-evolving landscape of micro, small, and medium enterprises (MSMEs) hinges on its flexibility and adaptability to diverse business needs and environments. So, as we anticipate the outcomes of the pilot phase, I remain cautiously optimistic. If implemented effectively, the PWM has the potential to herald a new era of workforce development and economic sustainability, which is incredibly exciting. However, we must remember that this is a collective endeavour. The feedback from both businesses and workers will be indispensable in sculpting a model that genuinely resonates with and addresses the intricacies of our economic landscape. In the end, the PWM isn’t just a policy change; it’s a potential turning point in how we value and invest in our workforce for the betterment of our economy and society. Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

In a world where education increasingly transcends geographical boundaries, studying overseas has become a coveted ambition for many Malaysian students. It promises not only academic excellence but also an enriching cultural experience. However, the prospect of pursuing education abroad brings with it a significant financial consideration. For Malaysian families planning this educational journey, understanding the comprehensive costs involved is crucial. This article delves into the various expenses Malaysian students can expect when studying abroad—from tuition fees to living costs—and offers a detailed financial roadmap to help families navigate this transformative but financially demanding venture. 1. Tuition Fee Tuition fees vary greatly depending on the country and institution. According to the QS World University Rankings the average annual tuition fees for international students are approximately: United States: $25,000 - $50,000 (approx. RM104,250 - RM208,500) United Kingdom: £10,000 - £38,000 (approx. RM55,000 - RM209,000) Australia: AUD 20,000 - AUD 45,000 (approx. RM60,000 - RM135,000) 2. Accommodation Accommodation costs can range widely. On-campus housing is often more expensive but convenient. Off-campus options might be cheaper but could include additional transportation costs. For example, in Australia, on-campus accommodation can cost around AUD 110 - AUD 280 per week (approx. RM330 - RM840). However, off-campus options can cost roughly about AUD 95-215 per week (approx. RM285 - RM650). 3. Allowance Living expenses would include groceries, utilities, and personal spending. According to GoStudy, international students can manage living expenses at USD 500 - 700 (approx. RM2,382 - RM3,335). 4. Insurance Health insurance is often mandatory for international students. In the UK, for instance, the National Health Service (NHS) surcharge is around £470 per year (approx. RM2,585). Other types of insurance, like travel or personal property insurance, can also be considered. 5. Phone Plans Mobile plans vary, but international students can expect to pay around AUD 20 - AUD 50 per month in Australia (approx. RM60 - RM150). 6. Travelling Flights to and from Malaysia can be a significant cost, especially during peak periods. A round-trip flight from Kuala Lumpur to London might cost around RM3,000 - RM5,000. 7. Eating Out Eating out can be expensive, depending on the country. In the UK, for example, a meal at an inexpensive restaurant might cost around £15 (approx. RM83). 8. Transportation Public transport is generally efficient and affordable in many countries. In the UK, a monthly bus pass can cost around £55 (approx. RM303). 9. Other Expenses This category can include books, supplies, clothing, entertainment, and other personal expenses. It’s wise to budget an additional 10-15% of total expenses for these unforeseen costs. Total Cost Estimate Considering all these factors, the total annual cost for a Malaysian student studying abroad could range from RM250,000 to RM350,000 per year, depending on the country and lifestyle choices. Financial Planning Tips Start Early: Begin saving as soon as possible to spread the financial burden over several years. Education Loans and Scholarships: Explore education loans from financial institutions and scholarships offered by universities and external organizations. Investment Plans: Consider education savings or investment plans that offer good returns and are specifically designed for funding higher education. Budgeting: Teach your child about budgeting and financial responsibility to ensure they manage their allowance wisely. Exchange Rates: Keep an eye on currency exchange rates as fluctuations can significantly impact your budget. Navigating the Waters of Overseas Study Costs for Malaysian Families Figuring out the financial complexities of overseas education for Malaysian families is a venture filled with both excitement and financial challenges. From my perspective, the key lies in meticulous planning and understanding the diverse range of costs involved — from tuition fees to the nuances of daily living expenses abroad. Ultimately, while the idea of managing overseas study costs might seem daunting for Malaysian families, it's definitely within reach with the right approach. It's about striking a balance between ambition and practical financial planning, turning the dream of an international education into a feasible and rewarding reality. Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.

It’s SHOPPING SEASON once more! December is finally here and that means SALES, SALES, SALES! From online 12.12 promotions all the way to year-end annual sales in malls. We certainly can’t get enough of it. Back in the day, it was easier to keep track of sales and promotions – you’d just walk into a mall and see promotional sales in front of shops – but now with the advent of the internet, it may almost feel like too many sales (or are there no such things?) So in this article, I’m going to highlight the 7 best 12.12 Promotion Sale you’ll definitely not want to miss out on this shopping season in Malaysia. 1. Klook In line with their theme of Conquer Your Adventure With Klook, they have four main promotions this year-end. Sitewide Sale (6 Nov - 1 Jan) Get up to RM175 Off sitewide. Weekend Hotel Sale (Every Friday - Sunday in December) Get 12% Off for all hotels in Malaysia weekend in December. Minimum spend of RM300, capped at RM50. 12.12 Sale (11-13 Dec): Deal 1: 12% Off sitewide Deal 2: Buy 1 Free 1 Theme Parks Deal 3: 50% Off tours and experiences 11% Off sitewide (13-10 Dec): Limited to Aeon credit card users with discount capped at RM50. 2. Machines Not exactly a 12.12 sale but Machines are offering some special deals this month. Airpods: Save up to RM110 Apple Watch: Save up to RM700 iPad: Save up to RM300 iPhone: Save up to RM850 MacBook: Save up to RM600 3. Shopee 12.12 Birthday Sale Of course, how can I forget Shopee’s annual 12.12 Birthday Sale! Promotions include: 12PM Super Seringgit deals 15% Cashback hours (8pm) 12.12 Early Bird vouchers: 95% vouchers + free shipping 12.12 Only vouchers and deals RM12 Knockout deals (12pm & 10pm on 12 Dec) 12.12 Christmas deals Year-end clearance sales 4. Lazada 12.12 All Out Year-End Sale Another contender for the biggest 12.12 sale is Lazada! This year, their theme is Lazada 12.12 All Out Year-End Sale. This year, their promotions include: Savings with up to 90% Off vouchers RM 9 Off every RM90 spent Mesti Beli promos from LazMall brands like Puma, Apple, Dyson and more 5. Zalora 12.12 Sale I don’t know about you guys but I always like to start my new year with at least one brand-new set of clothes. Something about “new year, new me”, y’know? And with end-year sales, it makes shopping that much sweeter! Zalora’s 12.12 Sale is happening from 9-14 December. You can get: Discounts of 50-90% Off Cash vouchers to claim Gift recommendation deals starting from RM30 70% Off for last-chance items 12.12 Mission Quest Mania: Join the quest and win prizes worth up to RM100,000 Zalora VIP: 24-hour early access (8 Dec, 12am) Up to 90% Off + stackable 5% Off during special hours 6-9% cashback deals Guaranteed 3% cashback on every order Unlimited free shipping 6. Watson 12.12 Sale-Bration Time to stock up on all your drugstore needs this month! Get up to 70% Off this 1-15 December with Watson’s 12.12 Sale-Bration. Shop by Brands: Get up to RM18 Off Get up to 50% Off for healthcare, personal care, skincare, cosmetics, lifestyle & home Supreme Savings: Up to 70% Off Limited-time vouchers to be claimed 24-hour flash deals 12.12 Season of Gifting: Up to 50% Off To make the pot sweeter, if you check out with Atome from 5-14 Dec, you can get RM20 off with a minimum spend of RM200. Limited to 130 redemptions daily. 7. Dyson 12.12 Sale Been eyeing that Dyson vacuum cleaner or AirWrap for a while now? Well, you’re in luck! Dyson’s 12.12 sale is giving up to RM1,200 worth of savings and gifts. Dyson AirWrap: Save RM450 (Usual price: RM2,899; 12.12 sale: RM2,449) Dyson Vacuum (V11 Absolute): Save RM1,200 (Usual price: RM3,899; 12.12 sale: RM2,699) Dyson Purifier Cool: Save RM400 (Usual price: RM3,599; 12.12 sale: RM3,199) Dyson Corrale: Save RM600 (Usual price: RM2,599; 12.12 sale: RM1,999) Other exclusive offers + additional RM100 off Stay Financially Smart This 12.12 Promotion Sale Season in Malaysia End-year promotions and 12.12 sales can tap into that side of our brain that impulsively buys things, tempting us with seemingly irresistible deals and discounts. However, it's crucial to stay financially smart during this period. So, here are some tips to help you make the most out of the sales season without compromising your budget: 1. Set a Budget: Before the sales begin, decide on a budget. This will be your spending limit, helping to keep impulsive purchases in check. 2. Make a Shopping List: Identify what you truly need or have been planning to buy for a long time. Stick to this list to avoid unnecessary purchases. 3. Compare Prices: With so many deals available, take the time to compare prices across different platforms. Sometimes, what seems like a great deal might be cheaper elsewhere. 4. Use Cashback and Reward Programs: Take advantage of cashback offers and reward programs that can provide additional savings. 5. Research Big-Ticket Items: For more expensive purchases, do your research. Read reviews and check the product specifications to ensure it's a worthwhile investment. 6. Don’t Get Swayed by Flash Sales: Flash sales can create a sense of urgency, but don’t let this pressure you into buying something you don’t really need. 7. Keep Track of Your Spending: Throughout the sales season, keep track of your expenditures. This helps you stay within your budget and assess your spending habits. Remember, a good deal is only beneficial if it aligns with your needs and financial goals. 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Did you know that Malaysia is one of the top-ranking countries on the Global Islamic Economic Indicator (GIEI)? This means we have a respectable size of the Halal Economy particularly for Islamic finance, halal food, Muslim-friendly travel, and media and recreation sectors. In this article, let’s dive into the world of Islamic finance, particularly Halal or Shariah-compliant investments. What Is Shariah Investing (Halal Investing)? Shariah investing is an investment approach that adheres to the principles and guidelines of Islamic law. It is a form of ethical investing that aligns with the values and beliefs of Muslims and avoids activities that are considered prohibited (haram) or unethical according to Islamic teachings. What Are The Key Principles of Shariah Investing (Halal Investing)? 1. Prohibition of Riba (Interest) Riba, or interest, is prohibited because it is seen as a tool that facilitates unequal exchange. For example, in a riba system, a wealthy individual can lend money and earn interest steadily without engaging in any productive activity, potentially exploiting the financial needs of others. In contrast, Shariah-compliant investments promote profit and loss sharing and shared risk. This means that investments in businesses involved in conventional banking, lending, or interest-based financial instruments are not permissible. 2. Prohibition of Gharar (Uncertainty or speculation) Gharar, or uncertainty/betting, is prohibited because it fosters transactions based on speculation rather than tangible assets. For instance, investing in businesses with ambiguous contract terms or unclear pricing strategies would be considered engagements in Gharar. Investments in speculative derivatives, gambling, or uncertain contracts are not considered permissible. Therefore, Shariah-compliant investors should ensure that trading contracts with companies or brokers are clear and concise. 3. Prohibition of Maysir (Gambling or betting) Maysir or gambling, is prohibited as it is based on luck and uncertainty and not on real economic productivity. For example, engaging in transactions that are highly speculative, akin to betting on stock price movements without underlying assets or analysis, would be viewed as indulging in Maysir. 4. Prohibition of Haram Activities Investments in businesses involved in activities considered Haram according to Islamic principles are not allowed. This includes companies involved with alcohol, gambling, adult entertainment, pork, tobacco-based products and non-halal food products. FAQ About Shariah Investing (Halal Investing) Q1: How do I know if a company is Shariah non-compliant? According to Bursa Malaysia, companies will be deemed as Shariah non-compliant if they are involved in the following core activities: Financial services based on riba (interest). Gaming and gambling. Manufacture or sale of non-halal products or related products. Conventional insurance. Entertainment activities that are non-permissible according to Shariah. Manufacture or sale of tobacco-based products or related products. Stockbroking or share trading on Shariah non-compliant securities. Other activities deemed non-permissible according to Shariah. Q2: Can Muslims invest in non-Shariah-compliant investments? Yes, you can. It is not against the law and it all comes down to personal choice. Q3: Can a non-Muslim invest in Shariah-compliant investments? Yes, you can! Note that your options will be pretty limited, sometimes even non-existent as securities like warrants, futures, and options trading are prohibited in halal investment. Now, onto the best part of this article. List of Shariah-Compliant Investments in Malaysia (2023) 1. Tabung Haji (TH) What Is It? Tabung Haji is a financial institution established to assist Muslims in saving and investing to fund their Hajj pilgrimage. It also facilitates various financial services and products that adhere to Islamic principles. Malaysian Muslims who want to go on Hajj, HAVE to open a Tabung Haji Account. How Does It Work? Hajj Pilgrimage Tabung Haji provides a platform for you to accumulate funds for your pilgrimage through savings and investing. Once sufficient savings are accumulated, Tabung Haji will assist in arranging and facilitating the pilgrimage, taking care of logistical elements such as flights and accommodation. Investment You can also invest in Shariah-compliant assets through Tabung Haji. These assets generate profits, which are later distributed as dividends to the depositors. Minimum Deposit Needed? Minimum Initial Deposit: RM10 Minimum Account Balance (to qualify for Hajj registration): RM1,300 What Are The Returns Like? It varies, year-on-year but the average returns over the past 10 years is 4.66%. In 2022, the returns were 3.10% after zakat (wealth distribution through charity). How To Open Tabung Haji Account? Over the counter at Tabung Haji branches Bank Islam Bank Rakyat 2. ASNB Funds What Is It? ASNB offers a variety of unit trust funds which are largely Shariah-compliant, aiming to foster investment and savings among Malaysians, particularly the Bumiputera community. There are three funds you can choose from - ASB, ASM, and ASN. To get a better understanding of each, read this article! How Does It Work? Just like your typical unit trust fund, ASNB operates by pooling money from various investors into a single fund, which is then managed by professional fund managers. Investors hold units in the fund that represent their share of the holdings and earnings. Though most of its funds are invested in non-Shariah-compliant assets, it received harus fatwa from the National Fatwa Council which makes it a halal investment. Minimum Deposit Needed? Minimum Initial Deposit: RM10 Maximum Investment: RM300,000 What Are The Returns Like? The returns for each fund (ASB, ASM, ASN) vary year-on-year. However, historically, the returns for ASB and ASM are usually >4%. ASN on the other hand, provides returns between 1-4%. How To Invest in ASNB? 1. Download & install myASNB app. 2. Register for an ASNB account. 3. Login into account. 4. Choose any of the funds you’d like to invest in. 5. Buy units by using FPX via bank account. 3. Islamic Unit Trust Funds (by Private Fund Management Companies) What Is It? Similar to ASNB Funds, these funds function just like a normal unit trust fund except the investments are made into Shariah-compliant securities, such as equities, sukuk (Islamic bonds), and Islamic money market instruments. Where To Invest in Private Islamic Unit Trust Funds? Here’s a list of some of the fund management companies that offer Islamic unit trust funds. Public Mutual Berhad CIMB-Principal Asset Management Berhad Maybank Asset Management Kenanga Investors Berhad RHB Asset Management Sdn. Bhd. Affin Hwang Asset Management Berhad Eastspring Investments Berhad AmInvest For more details on Islamic unit trust funds, check out FSMOne. Minimum Deposit Needed? It varies according to which fund management company you go to but typically, the initial deposit required is RM1,000. What Are The Returns Like? Varies according to the fund chosen. How To Open An Account? Visit the website of your chosen fund management company and open an account that way. 4. Bursa Malaysia-i What Is It? Bursa Malaysia-i is a sector of Malaysia’s stock market where you can invest in Shariah-compliant assets like stocks, ETFs, REITs and sukuk (bonds). Products offered: i-Stocks: Invest in local companies that are Shariah-compliant, including during IPO (initial public offering) i-ETFs: Invest in a basket of Shariah-compliant securities. i-REITs: An easier alternative to property investment, earn a stable income stream and distribution yield through Shariah-compliant REITS. ETBS (Exchange Traded Bonds and Sukuk): Invest in halal fixed-income securities issued by the government or companies. How To Start Investing in Bursa Malaysia-i? Open CDS and a Shariah-compliant trading account with an Islamic brokerage. Register & activate Bursa Malaysia-i Account. Start trading! Here’s a list of Islamic brokers you can open an Islamic trading account with, in Malaysia: Affin Hwang Investment Bank Berhad AmInvestment Bank Berhad BIMB Securities Sdn Bhd CGS-CIMB Securities Sdn Bhd Hong Leong Investment Bank Inter-Pacific Securities Sdn Bhd Kenanga Investment Bank Berhad Malacca Securities Sdn Bhd Maybank Investment Bank Berhad MIDF Amanah Investment Bank Berhad Public Investment Bank Berhad RHB Investment Bank Berhad TA Securities Holdings Berhad UOB Kay Hian Securities Sdn Bhd KAF Equities Sdn Bhd 5. Shariah-Compliant Fixed Deposits (FD) What Is It? Unlike the usual fixed deposits in the market, an Islamic Fixed Deposit adheres to Islamic law which makes it Shariah-compliant. Instead of accruing interest, your deposit is invested in halal, or permissible, ventures, with profits shared with you based on a pre-agreed ratio. An easy way to tell if a fixed deposit is Shariah-compliant is by making sure the FD name ends with “-i”. Where To Invest in Shariah-Compliant Fixed Deposits? Simply go onto RinggitPlus, and look up Islamic Fixed Deposits. Minimum Deposit Needed? It varies according to the bank and duration of investment. What Are The Returns Like? Varies according to the fixed deposit chosen. How To Open An Account? Typically, you’ll just have to open an account with your chosen bank and request to open an Islamic FD account. 6. Shariah-Compliant Money Market Funds What Is It? A Shariah-compliant money market fund pools investors' money to invest in short-term, liquid, and halal (permissible) financial instruments, such as sukuk (Islamic bonds) and Islamic bank deposits, avoiding interest (riba) and unethical industries. Profits are distributed to investors based on a predetermined profit-sharing ratio, aligning with Shariah guidelines on investment. What’s The Difference Between Fixed Deposit and Money Market Fund? A fixed deposit has a lock-in period (3 - 12 months) and a penalty for early withdrawal. Meanwhile, a money market fund has none of those. The best part is, the returns are about the same at 3-4%. Where To Invest in Shariah-Compliant Money Market Funds? So far, only TouchN’Go GO+ is Shariah-compliant. Minimum Deposit Needed for TouchN’Go GO+? RM10. What Are The Returns Like? You’ll earn daily returns and as of the time of writing, returns are 3.41% p.a. How To Open An Account? Download the TouchN’Go app. Click on GO+. Complete Account Verification. Update your personal information. Deposit RM10. Start earning! 7. Physical Assets Besides the above financial instruments, you can also invest in gold and property as long as you stick to the principles of Shariah. Halal Gold Investment You can invest in physical gold like gold bars, coins or even jewellery. Besides that, there are even e-gold and gold investment accounts like Maybank Islamic Gold Account-i. Property Investment Generally, property investment is halal so long as it is not obtained illegally or unethically according to Islamic laws. One thing to look out for is the financial products used to purchase the property. You’ll want to take up Islamic loans and takaful instead of conventional loans and insurance. Conclusion We hope this helped clarify some things about halal investments or Shariah-compliant investments for you. As always, make sure to research and learn more about a financial instrument before putting your money into it and if you’re still unsure, there’s no shame in reaching out for professional advice. Subscribe to our financial newsletter for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.