small blessings

Our family is into avocado lately and avocado family is growing. These cuties are sleep companions every night.

I have been trying to advocate savings to my youngest but she doesn't seem to be able to grasp the concept of delay gratification. So when she showed me this article which she cut out from the newspaper on saving money and start saving her pocket money...no words can clearly describe what I felt. I'm really really thankful. And I learnt that some things is really can't be rushed.

2021 last quarter is just 1 day away, what do you plan to do?

One more day and we are entering the last quarter of year 2021. 

For the last quarter, I would want to germinate and grow my money like my plants. Wish me luck as I would like have a breakthrough this year and continue next year.

Germinating lucky bamboo plant

Growing coconut tree

Germinating moringa tree

Germinating mulberry

Germinating air plants

paid 500% less

http://www.forbes.com/sites/cameronkeng/2014/06/22/employees-that-stay-in-companies-longer-than-2-years-get-paid-50-less/

this article really stab me right here...
and I'm still bleeding profusely.
imagine for every year I'm paid 50% less, make that a 10 year multiply.

No one to blame except for myself.
add that with a 'no pay-raise no bonus' year ... I'm depressed. fullstop.

some cheers for year end, or are they not?

I received an email from ocbc bank a few weeks ago.

It says that 

(a) we can get BBWS RM50 voucher for opening any type of savings account

(b) another BBWS RM50 voucher for opening any type of FD deposit 

during the promotion period.

* BBWS : Big Bad Wolf Sales - the biggest and baddest book sales in Malaysia offering new books @ a fraction of retail prices.

Here's the catch : 

(a) min RM1k for opening savings account

(b) min RM5k for opening FD account

(c) max per pax is RM100 voucher per person. 

(d) applicable to selected customer who receive the email. (apparently their criteria for the mailing list is customer who only has credit card with them. They want to bring in your deposits)

But here's the cheers 

(for me la) :

1. Getting RM100 voucher for BBWS is very worth it (if average RM8 /book, I get about 12 books free literally). It's the kind of voucher that's definately not going to be ended up not utilized for me.

2. In term of returns, about 5% for savings account (RM50/RM1000), 

1% for FD account (RM50/RM5000) on top of the existing p.a interest rate. 

Mind you, this is not even per annum rate calculation basis. 

3. the returns in item (2) is given upfront / immediate, upon opening of account (ok la, upon collection and usage of voucher). In other words, we don't need to wait for month end / year end / upon maturity for interest calculation and crediting.

4. There are no bonding / tie in period. Literally, it can mean you can withdraw the money you bank the moment / after you collected the vouchers. But then again, don't think anyone will do so right? FD withdraw prior to maturity will have penalty/ no interest.

5. I just discovered OCBC has a very attractive savings account which they call 'Smart Savers Plan'. It allow adult to earn interest rates like children account provided there are no withdrawal. It's good if you plan to use it for REAL savings and not day to day operating account.

provided no withdrawal, deposit of 

RM0 - RM49.99 interest rate 2.4% p.a

RM50 - RM999.99 interest rate 2.75% p.a

RM1000 above interest rate 2.90% p.a

(refer pic2 below)

help me see...did I miss any catch here? (since I think I'm blinded by the BBWS cash vouchers) 

ps. this is not a paid post. 

the above post is just the opinion of the writer.

 

financial education in primary school 2014, secondary school 2017

Image: FreeDigitalPhotos.net

Better late than never.
Let's not delve into details ... contents, resources, readiness, implementation.
let's just take it as good news to a humble mother for her children to have access to financial knowledge / information in which she has to learn the hard way. 

source of today's happiness : 
http://schooladvisor.my/?p=news%2Ffinancial-education-to-be-taught-in-primary-schools-from-2014
http://schooladvisor.my/?p=news/secondary-students-to-be-taught-financial-management

splurging again

I lied. I said I was not going to buy anymore clothes this year.
The year has not ended but I've bought 5 new ones at one go (yes, you read right 5 at one go).
And I stupidly paid about RM116 so willingly..
This has got to be my most impulsive purchase so far this year. 
My weakness is when they are on 70% and 80% row.
I bought it while ah dear was overseas .. 
didn't want to let him know initially but I ended up telling him that
'I've spent money again buying clothes' which according to him I seldom wear.

Really this time, no more buying clothes till a year later.
This time it's going to take whatever I have to stop myself.

track to track I'm on track ...

Since April this year, I've again started to track my expenses daily.
It's true that they say 'you won't know where your money go until you start tracking them' 
and so I resorted to the conventional way of tracking my expenses in a physical log book (yes, I know I can do more with excel but it just doesn't work for me)
What prompted me to start was the fact that not only my savings is not growing, it is depleting pretty fast.


After the 3 months tracking & to my horror, I've been spending money like drinking water. 
Unconsciously I've been siphoning money out of my account. 
Unconsciously I've been using money to compensate whatever that's missing in my life.
Unconsciously I've been very not careful with my spending.


So I made myself put a brake to my urge to spend.
And today's the 5th day ... so far I'm still ok. 
Hopefully this will last but I'm not too sure about it. I'm bad in this. 

my monthly investment : the crazy & desperate version

Yup, the RM1.20 / month investment I've been working on for the past few months.
Why still using this method? 
Cause it will still yield same result (hopefully).
The calculation : 
Each sms cost RM1, so if I want to 'invest' in 9 'stocks' for that particular month, I need to fork out RM9.
whereas this method, I need RM0.60 stamp x 2 envelopes (different magazine) = RM1.20.
Yes, I have to resort to petty petty things like this to help me survive the ever increasing costs...haha. 


Well, if you ask me, I'll continue doing this until one day the company gives me a call and say "Pleassse STOP sending in. You're NOT going to win ANYTHING so don't waste your postage fee" ... 
well, at least they are going to tell me. If I'm sending sms, all I receive is an automated message thanking me for participating. The sms won't say ""Pleassse STOP sms in. You're NOT going to win ANYTHING so don't increase your hanphone bill"  

SARA sara u...bagus?

Skim Amanah Rakyat (SARA) 1Malaysia (which offer 32.16% return p.a.) is being opened to public today 30/1/12. The subscription will extend for a year or upon full subscription (most likely finish within hours)

32.16% p.a. mind you! and so far I can't seem to see any catch!

According to the PNB president & group CE

• Investment limited to RM5000 / household
• Investor will receive RM134 dividend every month for 5 years

Here's how you can participate

• Invest with own money
• Invest with bank's money/loan (this is the interesting part) : dividend received RM134 - monthly repayment to bank RM84 = profit RM50 per month. But the beauty is, remember you didn't fork out a single cent and you didn't had any opportunity cost of putting your own RM5k inside.    So, we get RM50 per month out of nothing?

Perhaps these are the catches (the eligibility) :

1.	Malaysians aged between 18 and 58 years;
2.	Applicants must have a combined gross household monthly income of between RM500 – RM3,000;
3.	Applicants must not be declared bankrupt throughout the loan funding period;
4.	Applicants and / or spouse(s) must not be a beneficiary of other Government special schemes managed by Amanah Saham Nasional Berhad (ASNB) i.e."Program Pembangunan Rakyat Termiskin (PPRT)", "ASB Sejahtera" and "ASW2020-Bandar";
5.	Applicants and / or spouse (s) do not have any investments in ASNB unit trusts, OR, if there is, applicants and /or spouse(s) (household) have a combined aggregate investment totaling RM10,000 or less in all ASNB products;
6.	Only one household is eligible to obtain the loan funding; and
7.	Approval on applications is also subject to other terms set by the financial institutions. **** DEFINITION OF HOUSEHOLD****Eligible household refers to individuals with gross household monthly income of between RM500 and RM3,000 including the following categories: Married - a combination of gross income of the husband and wife; and Single mothers or fathers - individual gross income. Taken from SARA 1Malaysia official website How to start? Prepare main & supporting documents required These 4 banks offer loan  Maybank, CIMB, RHB and Bank Simpanan Nasional Something you may want to know though The distribution of funds is opened to all Malaysians based on the allocation of Amanah Saham 1Malaysia (AS 1Malaysia)I, i.e. Bumiputera – 50%; Chinese – 30%; Indian – 15%; Others – 5%. Personally I think if we are eligible, why not invest?  The stake at risk is RM5k and it's not even our own money (if taking loan). Come to think of it, nothing to lose except maybe a little time, effort and minimal cost. ** ps. btw, we know of the 'OBVIOUS' but I'm just sharing from purely point of financial view. I don't care about the motives/the games/whatever