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These days, there are a myriad of trading and investment brokerages saturating the Malaysian market. So much so that it can get overwhelming trying to find the “perfect” platform that feels like it’s made just for you.  Perhaps you're an investor who... Is just starting out. Has years of experience in investing. Would like some guidance from your chosen platform. Wants a simple, direct way to trade. Well, no matter the kind of investor you are, in this article, we’ve got you covered. We’re going to compare  three of the most commonly used brokers in Malaysia – moomoo MY, M+ Global, and Interactive Brokers  breaking down what makes each tick.  Getting to Know: M+ Global, moomoo MY & Interactive Brokers moomoo MY Moomoo MY  is a subsidiary of Futu Holdings Limited , a leading fintech company in China. Launched in Malaysia  in 2024, moomoo MY offers  a user-friendly platform with features such as commission-free trading, advanced trading tools, and access to global markets. With a focus on the younger generation of investors, the platform aims to provide a seamless investing experience.  Additionally, the broker is a Capital Markets Services License holder and is regulated by the Securities Commission ( SC ) Malaysia. It is also a Capital Market Compensation (CMC) Fund Protected whereby eligible investors may claim up to RM100,000 on eligible Malaysia securities/related assets should an unlikely event occur. M+ Global M+ Global  is an investment trading platform launched  in 2023 by one of the most renowned stock brokers in town - Malacca Securities Sdn Bhd . With a diverse range of investment products including stocks, ETFs, and mutual funds, M+ Global emphasises  simplicity and transparency, offering competitive fees and comprehensive research tools to help users make informed investment decisions. M+ Global fully licensed and regulated by SC as Malacca Securities Sdn Bhd is the parent company of Malacca Securities is a participating Organisation of Bursa Malaysia Securities Berhad . Interactive Brokers (IBKR) Interactive Brokers  (IBKR) is a renowned global brokerage firm founded in 1978 . Offering access to over 135 markets in 33 countries, IBKR provides  a wide range of investment products, including stocks, options, futures, and forex. With low fees and advanced tools, IBKR is popular among active traders and institutional investors worldwide. Unfortunately, IBKR isn't regulated  by SC Malaysia because it operates under U.S. regulations. Malaysian accounts are automatically set up with Interactive Brokers LLC in the U.S., not allowing us to choose a specific entity. This means any issues that may occur would fall under U.S. jurisdiction. Now that you have a little background on each of these brokers, let’s get into the stuff that really matters – what is being offered by these platforms and how they compare to serve your different investment needs. Comparison #1: Investment Products and Market Access First up, let’s delve into the investment products and market each broker offers. Whether you’re interested in global exchanges like Wall Street or local opportunities in Malaysia, understanding what securities these apps provide is key. moomoo MY M+ Global Interactive Brokers Investment Products Stocks ETFs Warrants  REITs Stocks Warrants ETFs IPOs Bonds Over 10 products including stocks, ETFs, options, futures, bonds, and forex. Market Access Malaysia & US Malaysia, US & Hong Kong 150 markets including those in the US, Canada, Europe, Australia, India, and Singapore. My Review Simply based on these two categories, I found moomoo MY  and M+ Global  to be particularly welcoming for beginner investors . They offer a straightforward  array of investment options like stocks, ETFs, and REITs, which I believe aren’t too complicated for anyone just starting out. Both platforms maintain simplicity  by mainly focusing on markets in Malaysia, the U.S., and for M+ Global, Hong Kong as well. This simplicity is crucial for novices who would likely prefer to ease into the investing world  without being overwhelmed by too many choices. On the flip side, Interactive Brokers  is a powerhouse suited for the more advanced traders . The platform's extensive offering of investment products and access to an impressive 150 global markets offer a broad reach , perfect for those looking to employ complex trading strategies and explore investment opportunities across various international landscapes. Comparison 1: Cost Structure Next, let's examine the cost structure including must-know fees, margin and conversion rates associated with each platform. These are essential factors because they directly impact your investment costs and returns .  What we’re looking for is transparency and competitive pricing, reasonable borrowing costs, and favourable currency conversion rates which are critical in maximizing your investment potential while minimizing expenses. moomoo MY M+ Global Interactive Brokers Fees Account Opening   Free Platform Fee RM3/order or USD0.99/order. Tools & Resources Fee Free Account Opening   RM11 Trading Fee  US$3/trade or 0.10% of trade value  (whichever is higher). Tools & Resources Fee Free Account Opening   Free Trading Fee  0.05% - 0.10% of trade value  (depending on chosen plan). Tools & Resources Fee Extra charges apply  (depending on chosen plan and tools/resources) Margin Rate 6.8% 8% 6-8%  (depending on chosen currency) Conversion Rate MYR accepted. MYR accepted. MYR is not accepted.   The conversion rate depends on your chosen bank. My Review After comparing the cost structure of these three brokers, the “perfect” broker for you comes down to the type of investor you are – an active trader or a passive one.  Active traders , who may buy and sell a particular stock several times a day to dollar cost average  their investments, will find M+ Global  and Interactive Brokers   cheaper  over time. That's because both these platforms combine all your day's trades of a particular stock into one and charge you a single fee . For example, if you split RM5,000 worth of a stock's trade into 10 different entries of RM500 each, M+ Global and IBKR would charge you around RM5 in total because they treat it as one transaction. On the other hand, moomoo Malaysia  charges RM3 or USD0.99 for each trade . So, using the same example, you'd pay RM30 for those 10 trades since each one is charged separately. This makes moomoo more costly for those who trade a particular stock very frequently . However, if you’re a more passive investor  or  don’t have the time  to make multiple transactions in a day, it’ll make more sense for you to use moomoo Malaysia  as their platform fee is very competitive.  For instance, say you plan to buy RM5,000 worth of AAPL shares  in one transaction. With moomoo, the charge would only be RM3 or USD0.99. In comparison, M+ Global or IBKR would charge you around RM5 for the same buy.  Comparison 2: Features, Tools and Resources When evaluating any brokerage or investment platform, having a wide range of functionalities like features, tools, and resources is crucial. This variety ensures that you have access to all the necessary mechanisms to manage your portfolios effectively. moomoo MY M+ Global Interactive Brokers Features and Tools Market Monitor Trend Projection Company Analysis Heat Map Industrial Chain Institutional Tracker Investment Themes Market Overview Sector Overview ETFs Tracker Trending Stocks List Top Stocks List Watchlist IBKR GlobalAnalyst Reporting Suite Trader Workstation Resources and  Learning Materials Comments Section News Updates Paper Trade Learning Section News Updates Featured Topics Livestream IBKR Campus Technology Features in Focus Traders' Insight My Review Taking a close look at the functionalities offered by these brokerages, I find that M+ Global  and moomoo  are ideal for investment newcomers , while Interactive Brokers  is a better match for seasoned investors . Moomoo MY  being a more fintech-leaning  platform, is packed with a wealth of intuitive features  like the Market Monitor and Trend Projection, coupled with all kinds of resources  in the Learning Section and the Paper Trade tool. These ensure that even those  new to investing  can grow their knowledge and confidenc e to navigate the stock market.  However, I recognise that the extensive features and resources offered by moomoo could be a bit much for some. That's where M+ Global  steps in to provide a simpler alternative . By offering a more streamlined selection of functionalities , it effectively  minimises the risk of feeling overwhelmed  by too many choices, making it an approachable platform for those taking their first steps into investing  or maybe those who prefer getting straight to the point  of buying and selling their stocks. Meanwhile, Interactive Brokers  once again proves to be the ultimate toolkit for advanced investors . The depth of its analytical tools, such as the IBKR GlobalAnalyst  and Trader Workstation , offers a level of detail and customization  which suits more complex investment strategies that experienced investors are likely to dabble in. On top of that, the educational resources available through IBKR Campus  would certainly come in handy when keeping up with specific market trends and refining investment approaches.  BTW, are you looking for even more  stock market analysis & tools for your investment tradings? Introducing, Seeking Alpha . Seeking Alpha  is an investment research platform  that offers articles, financial analysis, insightful market commentary, and a community of investors for you to exchange ideas and strategies with when it comes to investing. From  detailed stock analysis and ratings  to earnings call transcripts and dividend information , the platform ensures that you have access to all the data you’ll need to make an informed investment decision.  Additionally, Seeking Alpha’s real-time news updates  will keep you abreast of market movements as they happen, while its portfolio tracking tool  allows for effective management of your investments.  But perhaps its most valuable asset is the vibrant community of investors  it hosts. The platform offers a space for lively discussions, debates, and sharing of insights that can enrich your investment strategy and decisions. Think of it as Twitter but solely dialled in on investments.  This community aspect is precisely why Seeking Alpha  has become my go-to platform , much more so than others like CNBC or CNN. As an investor, my decisions are largely influenced by market sentiment  rather than deep-dive chart analyses. This means I value a range of expert opinions on a specific stock to inform my own judgment on whether to buy, sell, or hold it in my portfolio. Seeking Alpha has been incredibly useful in facilitating this approach, allowing me to make well-rounded decisions with confidence.  So, I believe, whether you're a beginner eager to learn the ropes or a seasoned investor seeking sophisticated strategies and stock evaluations, Seeking Alpha will certainly equip you with all the tools and resources you’ll need to deepen your market understanding and enhance your portfolio performance.  Comparison 3: Platform UI/UX For any app or digital platform out there, the importance of user interface and user experience (UI/UX) cannot be overstated. This is especially true in the case of a brokerage app and/or platform.  Primarily, this is because the UI/UX directly impacts your ability to navigate markets effectively . A user-friendly interface enables quick decision-making, ensures easy access to essential data, and facilitates smooth trade execution, crucial for seizing market opportunities.   moomoo MY M+ Global Interactive Brokers Ease of Use and Intuitiveness User-friendly design. Intuitive interface. Many features can overwhelm users. With fewer features, it is straightforward and less crowded. Intuitive user experience. Powerful platform. Interface can be complex and overwhelming due to advanced functionalities. Real-Time Data and Speed Quick access to real-time market data.  Fast execution. Provides real-time data efficiently. May experience slight delays during peak hours. Known for its robust infrastructure. Ensures high-speed data transmission and trade execution. Customization and Analytical Tools Wide array of customizable features. Has advanced analytical tools. Provides essential tools and analytical capabilities. Limited customization options. Highly customizable interface. Offers broad range of sophisticated analytical tools. My Review When it comes to the UI/UX of these three brokerages, I find that each platform would suit different kinds of investors. For those who are just starting  their investment journey, moomoo Malaysia  is my top recommendation. It's incredibly user-friendly  and the features and tools that come with the platform are arranged intuitively, making it less daunting for newcomers. Personally, I found its instinctive approach ideal for easing into the trading world, especially for those who need some hand-holding. Meanwhile, M+ Global  is the go-to for investors who appreciate simplicity . It doesn't bombard you with too many features, which I think is perfect for those who might feel lost in more complex platforms. It strikes a nice balance between being helpful and not overcomplicated , offering just enough to get you trading without any hassle. For beginners needing less guidance  or those who prefer a lean trading experience , M+ Global hits the mark. Interactive Brokers  is undoubtedly designed for the seasoned trader . Its platform might be a bit challenging to navigate  at first, but for those with experience, it's a treasure trove of tools and analytics. The customization  and sophisticated analytical capabilities  are impressive , catering to almost any strategy you might have. From my perspective, if you're serious about trading and ready to tackle its steep learning curve, IBKR offers unparalleled depth. Comparison 4: Account Opening Opening an account is your first real interaction with a brokerage, and it can tell you a lot about what to expect later on.  In this part of our broker comparison, we're looking at how simple or complicated it is to start trading with moomoo Malaysia, M+ Global, and Interactive Brokers in terms of what you need to do and how long it takes. moomoo MY M+ Global Interactive Brokers Simplicity and Speed Online account opening. 6 sections  to fill in. Takes  less than 10 minutes  to complete. Platform evaluation within 1-3 working days. Online account opening. 10 sections  to fill in. Takes 20 minutes  to complete. Platform evaluation within 1-3 working days.  Online account opening. More than 10 sections  to fill in. Takes 30-45 minutes  to complete. Platform evaluation within 1-3 working days.  Verification Identity verification via e-KYC. Phone number verification via TAC. Email verification via 6-digit code. Identity verification via e-KYC. Phone number verification via TAC. Email verification via 6-digit code. Bank statement verification  via file upload. Identity verification via photo ID. Phone number verification via TAC. Email verification via 6-digit code. Residential address verification  via file upload. My Review Comparing the different account opening processes for these three brokers, I found that moomoo MY  is the best bet for beginners for its ease and speed, M+ Global  serves well those in the middle ground, and Interactive Brokers  is tailored for the seasoned investors seeking depth and breadth in their trading platform. To me, moomoo MY  stands out for its simplicity , offering a quick and easy account setup  that’s perfect for beginners  or those seeking straightforward trading . With a process that takes less than 10 minutes and minimal verification, it's ideal for investors eager to trade without hassle. Meanwhile, M+ Global  strikes a balance with a slightly longer setup time but remains user-friendly. It adds a layer of security  through bank statement verification, making it ideal for semi-experienced investors who prefer a bit more depth without the complexity of more advanced platforms. For advanced traders , Interactive Brokers  offers a detailed account opening process that aligns with the platform’s need for a comprehensive trading environment. Its thorough verification  caters to professionals seeking extensive market access and a secure, robust platform. Comparison 5: Customer Support When embarking on your investment journey, the quality of customer support can be just as crucial as the features and fees offered by a brokerage platform.  A prompt, helpful, and knowledgeable support team can significantly enhance your trading experience, providing peace of mind in times of uncertainty or urgency. moomoo MY M+ Global Interactive Brokers Accessibility and Availability Live chat, customer service hotline, email. 24 hours on weekdays;  09:30 - 21:30 on weekends and public holidays. Live chat, customer service hotline, email. 24-hour customer support, 7 days a week. Live chat, customer service hotline, email. 24-hour customer support, 5 days a week. Comprehensive Self-Help Resources FAQ section covers necessary queries. FAQ section covers a wider range of queries compared to moomoo. FAQ section is the most comprehensive among the three brokers. My Review When it comes down to the customer support offered by these three brokers, I find that if you're new  to investing, M+ Global  would serve you well. It's easy to reach out for help anytime , and their  FAQ section is detailed enough  to get you started without feeling lost. It's straightforward and user-friendly, ideal for beginners needing quick answers. For the pros , Interactive Brokers  offers an unmatched depth of information in its FAQs and 24/5 support, catering to advanced traders with specific needs. Its comprehensive resources are best suited for those who understand the intricacies of trading  and need detailed information. Which Broker Is The Best in Malaysia – M+ Global, moomoo MY or Interactive Brokers? Initially, when I had the idea to write this article, I thought I would be able to give you guys a direct answer. But when it comes down to it, I find that it’s not so straightforward after all. In my opinion, deciding on the “perfect” broker for you boils down to understanding your own investment style and needs.   For moomoo M Y , the platform is intuitively laid out, meaning you can find what you need without a manual. It’s filled with tools and functionalities that range from basic to advanced, catering to all levels of investors. And, if you're someone who leans towards a more “set-and-forget” style of investing, you'll appreciate moomoo's competitive platform fees. They make it an ideal choice for passive investors  looking to stretch their ringgit further. Plus, moomoo doesn't just leave you to fend for yourself; it offers a wealth of guidance through educational resources and in-depth analytical features, making it a nurturing space for those new to the investment scene. On the other hand, M+ Global   embodies the principle of simplicity. Its investment product offerings are straightforward, the app layout is clean, and the features and tools are exactly what you need, no more, no less. It’s the broker for those of us who aren't looking to make trading a full-time job. You get in, make your trades, and get on with your day , which is perfect for investors who value simplicity and efficiency over the bells and whistles. M+ Global's fee structure is particularly appealing for local active traders , as it consolidates transactions to minimize costs, and the fact that it accepts MYR without any fuss adds to its charm. Finally, Interactive Brokers  is the heavyweight champion for seasoned traders . It’s where the pros go, thanks to its incredibly detailed and customizable resources and tools. Yes, it's used by institutional traders , which tells you something about its capabilities. However, this also means that its platform can be a labyrinth for anyone who isn't trading stocks for a living. The UI/UX is, frankly, not the friendliest, and it can feel like you need a degree in finance to navigate it effectively. But for those in the know, this complexity is a small price to pay for the depth and breadth  of options available, making it a powerhouse  for those looking to take their trading to the next level. Personally, I find the straightforward nature of M+ Global  aligns with my active and rather experienced investment style, which leans towards leveraging market sentiment over intricate charts and analytics. This preference is due to my approach of preferring to make swift decisions  based on the broader market trends and insights, which M+ Global facilitates with its streamlined platform. The ideal broker for me cuts through the noise, providing a seamless and efficient trading experience  that allows for quick action. Ultimately, the quest for the best broker in Malaysia isn't about finding a one-size-fits-all solution but rather understanding which platform aligns best with your individual trading style, needs, and level of experience . Whether you're drawn to the comprehensive tools and guidance of moomoo Malaysia, the simplicity and efficiency of M+ Global, or the depth and sophistication of Interactive Brokers, each offers unique benefits tailored to different investor profiles. The “perfect” broker for you is one that not only meets your current trading needs but also supports your growth as an investor, helping you navigate the complexities of the market with confidence and ease. Which broker do you think suits you best? Reach out  and let us know! Disclaimer This is not a piece of investment advice. All content produced is solely for education and entertainment purposes only. Please consult your financial advisor before making any investment decision. 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.

Choosing the right investment broker is crucial for beginner investors when starting their investment journey. With numerous platforms available, finding one that offers a balance of user-friendliness, cost-effectiveness, and comprehensive features can be challenging. Interactive Brokers (IBKR)  is a renowned global brokerage firm known for its low fees and advanced tools, but is it suitable for beginners? In this article, we’ll review IBKR’s offerings, features, and usability to help you decide if it’s the right platform for you. What is IBKR? Interactive Brokers (IBKR)  is a Nasdaq-listed online trading platform established in 1978, bringing over 40 years of experience to the industry. The platform offers access to a diverse range of investment products, including stocks, options, futures, and forex , IBKR caters to both individual traders and institutional investors worldwide. Fees When choosing a broker, you want to find one with transparent and competitive pricing that includes reasonable borrowing costs and favourable currency conversion rates to maximize your investment potential while minimizing trading expenses. Account opening: Free Trading Fee: 0.05% - 0.10% of trade value ( depending on chosen plan ).  IBKR Commisions fee structure Tools & Resources Fee: Extra charges apply (depending on chosen plan and tools/resources) IBKR Tools and Features Margin rate: 6-8% (depending on the selected currency) Conversion rate: Because MYR is not accepted on IBKR, the conversion rate will vary depending on which bank you choose.  One advantage of IBKR is that it combines all of your day's trades in a specific stock and charges you a single fee. For example, if you split RM5,000 worth of a stock trade into 10 separate RM500 entries, IBKR would charge you approximately RM5 for all 10 trades. In comparison to moomoo Malaysia , which charges RM3 or USD0.99 for each trade you make, if you attempt the same trade 10 times, you will end up paying RM30 because each trade is charged separately. This benefits active traders who make multiple trades within a day , as your trades can be stacked in a single transaction to save cost . Investment products and market access IBKR  offers a wide range of investment products, including stocks, ETFs , options, futures, bonds, and forex,  with market access  in over 150 markets across the United States, Canada, Europe, Australia, India, and Singapore.  The platform is a powerhouse for advanced traders looking to apply their complex trading strategies and explore international investment opportunities. Features, tools and learning resources IBKR GlobalAnalyst  The GlobalAnalyst  feature allows traders to identify specific global stocks based on price-to-earnings ratios, market capitalization, growth rate , and so on. This tool helps traders find stocks at potentially undervalued prices across the globe , saves time by allowing targeted searches, and simplifies comparison by presenting relevant data in one place. IBKR GlobalAnalyst feature Reporting Suite The Reporting Suite  includes reporting functions that help generate comprehensive reports on trades, positions, performance, risk, taxes, and other topics . This feature enables traders to further customise their reports for highly segmented analysis and export them in text, CSV, and PDF formats. Trader Workstation Trader Workstation (TWS)  is Interactive Brokers' desktop trading platform that provides tools and features for trading stocks, options, futures, forex, bonds, and funds on over 135 markets across the globe. Users can simulate or engage in live trading by logging in with their IBKR account or trying the demo mode. Additionally, TWS offers tools for watchlists, order entry, portfolio monitoring, and more. The platform can be downloaded  from the IBKR website, with no login fee, although some advanced features may require a subscription. Learning Materials IBKR Campus offers a range of educational resources , including the Traders' Academy portal , which hosts high-quality content from both in-house and third-party educators . Beginner investors can greatly benefit from the Traders' Academy, where they can access free courses to understand IBKR's trading tools and build their financial knowledge. The academy provides courses for investors at all levels, covering various markets and currencies, to help them establish a solid financial foundation. Accessible through the Education menu on the Interactive Brokers website or Client Portal, Traders' Academy is a valuable resource.  IBKR Traders Academy is beneficial for beginner investors who want to build their financial knowledge. Additionally, IBKR Campus features Traders' Insight , which provides investors with market analysis and trading strategies from professional traders and industry experts. This feature is essential for advanced traders to stay updated on specific market trends and to refine their investment approaches. You can access Traders' Insight through IBKR Mobile  by tapping the Home icon in the bottom navigation menu , then swiping up to the Learn section . User-experience and platform design on A user-friendly interface directly impacts your ability to navigate markets effectively. It enables quick decision-making, ensures easy access to essential data, and facilitates smooth trade execution, which is crucial for seizing market opportunities.  Interactive Brokers  is a powerful platform packed with a whole spectrum of products and trading tools that sophisticated traders will enjoy. The platform is known for it’s robust infrastructure, which ensures high-speed data transmission and trade execution. However, the interface's complexity can pose a steep learning curve for beginners because its advanced functionalities can be challenging to navigate.  Setting up your IBKR account You can open an account with Interactive Brokers here . There are two types of accounts you can open: a cash account (where you use your existing funds to trade) and a margin account (where the broker lends you money against your securities as collateral). Interactive Brokers sign up page Following this, you'll proceed to complete a more detailed application. The application involves filling in over 10 sections , which should take you around 20 minutes . The platform evaluation typically occurs within 1-3 days. You’ll also need to verify your identity via e-KYC and phone number , in addition to providing a copy of your bank statement . This thorough verification process is geared towards professionals seeking extensive market access and a robust, secure platform.  How to fund your IBKR account Before you start trading, you’ll need to fund your account. Since IBKR  is not registered in Malaysia, the Malaysian ringgit is not supported by the platform. Here’s how you can fund your international brokerage account:  Bank transfer Transfer your funds using your bank’s Foreign Telegraphic Transfer (TT) service  from your local account in MYR to IBKR’s international account. Again, the currency conversion fees will be charged by your bank. Please keep in mind that this is not an instant transfer and that your funds will most likely take a few days to reflect in your account.  Wise transfer You can use a Wise  multicurrency account so your funds can be converted into a supported currency and deposited into your IBKR account. Wise has competitive rates and is a great option for you to fund your account. Instarem Alternatively, you can use Instarem , a cross-border payment service that supports ACH direct debit payments, which is the cheapest option to fund your account. After successfully funding your account, you can start placing orders to enter your first trade . Pros and cons of IBKR Pros Cons Low commission and trading fees Pricing can vary depending on plan Sophisticated and comprehensive tools for experienced traders Extensive tools might be overwhelming to beginners and can be a steep learning curve High-quality educational content for investors at all levels Doesn't support MYR currency Wide range of investment products Doesn't support MYR currency Nasdaq-listed broker with over 2 million users Conclusion If you’re interested in investing, Interactive Brokers  is definitely a recommended and trusted broker. However, it is worth taking note that the complexity of the platform can be quite intimidating and is not the most beginner-friendly platform for new investors. Disclaimer: This is not investment advice. All content produced is solely for educational and entertainment purposes only. Please consult your financial advisor before making any investment decisions. 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.

Two weeks ago, we teamed up with Guinness for an incredible live event, where we dove deep into workplace dynamics and offered career advice tailored for new employees and fresh graduates. From relationship-building strategies to managing expectations with your boss, this session was filled with actionable tips that you can apply right from day one on the job. Here’s a summary of the key points discussed: Building Trust in Your First Month on the Job For fresh grads, the emphasis was on establishing trust as the foundation for a strong relationship with your boss. To kickstart this, one critical approach is to make a positive impression within the first month: Showcase Who You Are : Use the shortest time possible to demonstrate both your professional skills and your personality. Don’t be afraid to let your bosses & colleagues know what kind of person you are because at the end of the day, they’ll trust someone they know rather than not. Engage with Your Boss : Fresh grads tend to be quiet and reserved, but open conversations with your boss can make a world of difference. Help them understand your thought process and build trust by sharing how you approach tasks. Be Transparent About Weaknesses : Don’t hide your areas of improvement. Instead, ask quality questions and focus on learning from feedback. In contrast, try to avoid boasting about what you ‘can’ do as well! Imagine yourself in a situation where you’ve constantly mentioned something you can do but end up failing. It will only decrease the trust people have in you. Bond Beyond the Office : Sharing a drink (responsibly!) can improve workplace relationships significantly. When alcohol is involved, we tend to lower our guards and be more open to expressing ourselves. These are the best times to get to know your boss as a person and understand their values. Navigating High Expectations Without Prior Experience A common concern is dealing with bosses who expect self-sufficiency and results usually expected from seasoned professionals. Here’s how we suggested managing this: Clarify Expectations : Avoid basing your perception solely on what colleagues say. Sensationalized information often spreads through office gossip, so focus on feedback directly from your boss. Manage Expectations Proactively : Nearly 80% of success in the workplace is about managing expectations. If you’re assigned a project, inform your boss early on where you may face challenges and seek their guidance. In the end, it also covers yourself if you fail because you’ve already informed them of your challenges ahead of time. Seek Resources : Don’t hesitate to ask what resources or support you can access to improve the process and meet expectations. Without the necessary resources and support, it will be a tough road to thread in your journey of growth. Knowing When to Reassess Your Fit in the Organisation Another question tackled when it’s time to reassess working hard to please your boss or fit into the organization: Align Goals : Within your first five years, it’s vital to explore what kind of professional you want to become. Evaluate if the company’s objectives align with your personal career aspirations.  Question the Value of Your Role : If your current role doesn’t help you grow into that person, it may be worth reconsidering your position. If it does, and you’re simply facing challenges, assess whether the goal is truly unattainable or if it’s something you need to persevere through. Handling Bosses Who Don’t Recognise Your Work One of the last questions discussed was how to interpret a boss who doesn’t acknowledge an employee’s independent achievements: Understand the Motivation : Sometimes, bosses may feel threatened by employees who outperform them or display strong problem-solving skills. This can be more common in corporate settings where competition is high. Corporate vs. Startups : Unlike startups that value and cultivate talent to solve problems, some large corporations might breed a sense of competition. In these environments, bosses may worry about their position rather than nurturing talent. These were just a few of the insightful questions we covered that night. Attendees enjoyed even more off-camera discussions, which provided exclusive insights for those who joined us live! If you missed out, don’t worry! We recorded & edited the session on YouTube for those of you who feel FOMO ! So drop by our channel to watch the video, and give us a like & subscribe to stay notified on future events. Plus, if you comment the number of times we say our tagline, “Sip Sip Hooray!” , you stand a chance to win a FREE exclusive omakase dinner! Click here to let us know if you’d be interested in future events—don’t miss the chance to be part of our next exciting discussion!

Gold has been a reliable asset throughout history and regained importance as both a safe-haven asset and an investment tool . But why is it so valuable? With geopolitical tensions, inflation, and the shift toward de-dollarisation , gold is used for hedging, its growing relevance in futures trading, and it’s still considered a reliable store of value , even with the rise of cryptocurrency . Kelvin Ho, the Head of Derivatives at Affin Hwang Investment Bank, shared his insights on this subject matter with Peter (founder of MrMoneyTV) in a recent video on our channel , titled Malaysian Investment Banker Reveals The Future of GOLD , where they talked about gold’s evolving role in the financial world, especially in today’s economic climate. The Role of Gold in Today's Geopolitical Landscape Undoubtedly, gold’s value has surged due to inflation, geopolitical tensions, and de-dollarisation. Kelvin highlights how central banks are increasingly stocking gold to hedge against the weakening US dollar, demonstrating gold’s continuing role as a reserve for wealth protection. Gold Beyond The Physical: Futures Trading Gold has also moved beyond just a physical asset. Kelvin explains how gold futures trading allows investors to hedge ( meaning:   a way of protecting oneself against financial loss or other adverse circumstances ) against market volatility , offering a way to lock in prices for future transactions, making it an attractive option for those seeking to balance risk in unpredictable markets. Gold's Predictive Power In the past, gold prices have risen during times of instability, like wars and pandemics, making it a key indicator of global economic health . Kelvin points out how this trend continues, with gold acting as a safe-haven asset in times of crisis , reflecting investor sentiment toward market risks. Gold vs. Cryptocurrency: A Fair Comparison? During this conversation, gold was compared with cryptocurrency, highlighting how gold’s physical, tangible nature makes it more reliable. It’s mentioned that, unlike crypto, gold doesn’t depend on technology , making it a secure store of value , especially in the face of uncertainties like power outages or regulatory changes. Gold in Investment Portfolios Gold still remains a vital hedge for investors looking to protect their portfolios. By incorporating gold into investment strategies, investors can mitigate potential losses during market downturns, making it an essential asset for diversifying risks in today’s volatile economic environment. Final Thoughts: Gold in Malaysia Matters Now More Than Ever Given today’s global uncertainties, gold stands out as a trusted, stable asset for investors and governments alike. Whether through central bank reserves or futures trading, its importance in finance continues to grow, offering security in an unpredictable world . Hungry for more knowledge? Check out this video on our YouTube channel for more in-depth insights into how gold can play a crucial role in your financial strategy . 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.

If you’re aiming to break free from the ordinary path and build (real) wealth , it’s crucial to avoid common pitfalls.  Many believe that becoming wealthy is all about working hard and saving money , but it’s more nuanced. The truth is, you need the right mindset, habits, and strategies about building wealth. In this article, we’ll explore seven general mindsets you should avoid if you want to achieve financial success and build wealth. It’s not just about making money—it’s about making smart choices and investing in yourself and your future. 1. Working Just For Money Many fall into the trap of taking well-paying jobs that offer no growth opportunities. This is when it’s important to see the long-term picture to build wealth —building skills and equity, not just earning a pay cheque. To put yourself on the right track, it’s wise to learn some high-income skills like sales copywriting, project management, or website development that make you a valuable asset over time. 2. Buying A Luxury Lifestyle It’s easy to be tempted by flashy cars and expensive holidays, but most people living this way aren’t truly wealthy. They often end up piling on debt just to appear “rich.” Instead of buying depreciating assets like cars, invest in appreciating assets like stocks, real estate, or cryptocurrency. These investments grow in value, which is key to building real wealth over time. 3. Doing Everything Yourself The saying goes, “If you want to go fast, go alone; if you want to go far, go together.” Even successful entrepreneurs like Elon Musk started with a supportive network. Collaboration is key here —it’s completely okay to leverage your team members’ skills to boost your growth. If you’re working side hustles, consider how you can delegate tasks to others who are better suited to handle them, rather than exhausting yourself unnecessarily to get something you’re unfamiliar with, done. 4. Having Too Many Inputs It might seem smart to gather many opinions when you want to build wealth, but too much advice can overwhelm you. You wouldn’t know exactly which advice to take in. How do you find clarity? Start by defining a clear goal and focussing on the advice that truly helps you reach it. Embrace quality over quantity by seeking insights from experts in specific fields rather than cramming your mind with advice from a wide range of influencers. 5. Being Ego-Driven Arrogance can be a wealth killer. If you assume you know everything, you’re likely missing out on learning new trends or technologies that could help you create more value. Staying humble and open to learning helps you grow. Remember, what you know is just the tip of the iceberg . True success lies in understanding there’s always more to learn. 6. Passing the Blame Ultimately, you’re responsible for your own growth and financial situation . In other words, make it a personal value to take responsibility for your actions. Instead of always blaming external factors when things go wrong, focus on what you can control — your willingness to learn and acknowledge mistakes . Shifting to a growth mindset can help you overcome obstacles and keep moving forward past mistakes. 7. Staying Static While it’s understandable our comfort zone feels safe , it can become a prison if you stay in it too long. Staying static won’t allow you to find new opportunities that can transform your financial life.  How about giving yourself a challenge by taking more (manageable, calculated) risks and be open to exploring untapped markets or industries?  At the same time, expanding your skill set and gaining new experiences can broaden your perspective on building sustainable wealth. It's Not Just About Money to Build Wealth Building wealth isn’t just about money. It’s about developing the right mindset, skills, and network. By keeping these pitfalls in mind, you are setting yourself up for success in your financial life, and you are on track in building long-term wealth that surpasses yourself .

During a time of rapid decolonisation by the former British Empire, the Malaysia Agreement 1963 (MA63) was signed between the UK and Malayan government to form Malaysia . It was meant to bring Malaya as well as Sabah (formerly known as North Borneo) and Sarawak into a union with promising futures together .  While Sarawak has made strides in recent economic growth, neighbouring Sabah unfortunately still lags behind, facing numerous challenges to grow their economy, despite having an abundance of natural resources in their backyard . This divergence highlights some critical issues worth exploring as fellow Malaysians. In this article, I will break down the economic disparities, the daily cost of living struggles, and what efforts are being made to boost Sabah’s economy, including recent government initiatives and potential investments. Two Vastly Different Economies After MA63 61 years since MA63 was signed, in 2023, Sarawak’s GDP per capita stood at RM72,411 compared to Sabah’s RM31,147 —reflecting a significant gap between the neighbouring states’ economic growth. This gap isn’t just a number —it affects the daily lives of Sabahans.  As the cost of living rises, many find themselves struggling to make ends meet. The economic disparity is evident in various aspects of daily life, from food prices to housing costs, especially for those at a lower and even middle income level. High Costs, Low Wages in Sabah People thought the daily life in Sabah was affordable, but it can be (relatively) expensive.  For example, a bowl of fresh fish meehoon soup or kolo mee via food delivery can start from RM12 to RM18. On top of that, housing prices have surged, with a 1-story terraced house costing around RM510,000 and rents reaching RM1,600 per month in some areas.  Yet, the average monthly income for general workers is between RM1,600 and RM1,700. This mismatch between costs and wages places a heavy burden on the average Sabahan family, making it a challenge to cover basic necessities easily while trying to save more for future plans or big life milestones. Lack of Infrastructure Development While Sabah is a popular tourist destination, locals face significant infrastructure issues . Underdeveloped roads make commutes longer and more expensive , affecting everyday activities like getting to work or school, especially for those living in rural areas of Sabah. For students, reaching educational institutions in larger towns or cities is a struggle, limiting their access to better opportunities. Similarly, workers find it difficult to pursue better job prospects located in distant areas due to high commuting costs and time.  This lack of infrastructure not only inconveniences them but also slows down economic growth by limiting access to education and employment opportunities, key factors for bringing impoverished communities out of poverty lines. Sabah’s Economic Struggles Beyond infrastructure, there’s a further shortage of highly skilled jobs in Sabah.  As the Sabahan economy relies heavily on low-skill jobs in commodities, manufacturing, and ecotourism industries, it leaves little room for career advancement.  This lack of career opportunity has led many young, aspirational Sabahans to seek better prospects in Peninsular Malaysia or even overseas, contributing to a brain drain that further hinders the state’s much-needed economic development. Over-Reliance on Commodities As mentioned earlier, Sabah’s economy heavily depends on commodities like cacao, palm oil, and oil and gas exports. While these industries add to the state’s GDP, they haven’t grown fast enough to match the needs of Sabah’s 3.74 million people as of 2024.  This reliance on a narrow economic base limits the state’s potential for internal development and makes it vulnerable to fluctuations in global commodity prices due to the Sabah state’s heavy reliance on the commodities industry. Tourism: A Booming Industry Tourism (ecotourism specifically) is another key industry in Sabah , attracting 1,761,651 tourists as of July 2024. While this influx of visitors is great for local businesses, the wealth generated doesn’t trickle down to the average citizen evenly.  Despite receiving many tourists into their lands, many Sabahans don’t feel the benefits in their everyday lives. The industry alone hasn’t been enough to drive substantial economic growth or significantly reduce poverty in general. The Importance of Infrastructure However, for Sabah to truly unlock its potential , significant investment in infrastructure is necessary . Improved roads, schools, and hospitals could create a more conducive environment for businesses , leading to more job opportunities.  The current state of public utilities and infrastructure is also holding the state back, making it difficult for businesses to operate efficiently and reducing the quality of life for residents. Recent Government Efforts Nevertheless, the current Chief Minister of Sabah, Datuk Seri Hajiji Haji Noor, recognises these challenges and is focussing on attracting foreign investments in technology and renewable energy into Sabah.  The goal is to diversify Sabah’s economy away from its sole reliance on commodities, creating more high-value jobs that have better pays. This shift could enhance the spending power of Sabahans , improving their overall quality of life and boosting economic growth domestically. New Investments on the Horizon There’s hope on the horizon with potential investments in Sabah’s tech sector too! Recent news reported that the US-Asean Business Council and Chinese investors have shown interest to do so, which could help diversify Sabah’s economy, creating more high-skill jobs, and improve the GDP per capita.  If these investments materialise, they could provide the economic boost that Sabah needs to move towards a more balanced and sustainable growth model. Sabah’s Push for Autonomy Prime Minister Anwar Ibrahim has recently committed to fulfilling promises under MA63 for Sabah , including transferring regulatory power over gas supply and appointing state representatives to the Inland Revenue Board. While this is a positive development, the journey to gaining full autonomy is not without its challenges.  Sabah’s demand for 40% revenue from the federal government is still pending, and there are concerns about needing royal assent and navigating political considerations. However, this push for autonomy signals a promising shift toward greater state control over resources, which could be pivotal for Sabah’s economic future. Sabah’s Resource Management Although MA63 promised Sabah to have control over its natural resources, much of this control has been handed over to federal agencies . Gaining it back could allow Sabah to fully leverage its natural assets for economic growth.  More financial autonomy means the potential for investing in infrastructure projects that can benefit everyday Sabahans, improving their quality of life. Sabah’s GDP Outlook Investments in technology and renewable energy could be game-changers. With interest from the US and China , Sabah has the chance to broaden its economic capacity, moving beyond its current reliance on commodities and tourism. This diversification could pave the way for more high-skill jobs and a more robust economy. Promising Sectors & Economic Transformation Looking ahead, the signs are promising . Anwar’s commitment to MA63 and the interest from foreign companies in technology and renewable energy suggest that Sabah could be on the brink of significant economic transformation. If successful, these efforts could turn Sabah into a hub for green energy and tech innovation, driving further economic growth. Hope for the Future In summary, while Sabah faces significant challenges, there are also ample opportunities for growth . The steps being taken toward greater autonomy, attracting foreign investments, and diversifying the economy are all moving in the right direction . If Sabah can tackle its infrastructure issues and create more high-skill job opportunities, the future looks bright.  After 61 years since the MA63 was signed, it’s time for Sabah to fully realise its economic potential. Let’s remain hopeful for Sabah’s journey towards progress and prosperity! 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.

Recently, Peter and Frankie visited a new project called Berkeley Uptown Residences  in Klang (not Damansara Uptown’s Uptown Residences). This new development offers a fresh take on living in an area known for its rich history and active commercial life. Located Near to Boston Restaurant and Sri KDU International School One of the first things they noticed was how well-located Berkeley Uptown Residences is. It’s  close to familiar landmarks like Sri KDU International School and Boston Restaurant , making it a great spot for families and young professionals. The area is both convenient and well-established, offering a balance of comfort and accessibility. What makes Berkeley Uptown Residences special is how it blends the old and the new. The project revitalises the nearby commercial areas while keeping the local charm intact. This balance of modern homes in a familiar neighbourhood is what sets it apart. Forward-thinking Facility Design at Berkeley Uptown Residences The facilities are another big highlight. With swimming pools, sports courts, and spaces for kids, the development provides more than just a place to live. It’s designed for a community-focused lifestyle. Plus, the smart home system  allows residents to control their homes remotely, adding a modern touch to everyday living. Peter and Frankie were also impressed with how well the space is used. The homes are not only stylish but practical, ensuring that every bit of space is functional . Modern Convenience Meets Established Neighbourhood Charm In short, Berkeley Uptown Residences offers a great mix of modern convenience and the charm of an established neighbourhood, making it a standout project in Klang. Still interested in this new project in Klang? Watch our full video on MrMoneyTV’s YouTube channel  to learn more about what Berkeley Uptown Residences 2 has to offer. 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 recent episode of AreWeOK , Peter (aka MrMoney) and Dr. Ong Kian Ming explore the incredible work of Teach For Malaysia, a Malaysian non-profit organisation with a mission to bridge the education gap in underprivileged communities across Malaysia , with a special guest invited to the show being the CEO of Teach For Malaysia , Chan Soon Seng. Teach For Malaysia's Mission in Empowering Underprivileged Students Education isn’t just about getting good grades or passing exams—it’s a powerful tool for change, and Teach For Malaysia is using it to empower students  who have the odds stacked against them . Placing the Right People In The Role Soon Seng highlighted how the organisation recruits passionate individuals to teach  in under-resourced schools, where the need is greatest . These teachers aren’t just educators—they’re mentors, role models, and, in many cases, the key to opening up opportunities for underprivileged children who otherwise might never dream of a brighter future. Challenges Faced in This Pursuit However, it’s not without its challenges. This conversation also raised the daily struggles faced by both teachers and students, from a lack of basic teaching materials to the emotional weight of dealing with societal expectations. Despite these hurdles, Teach For Malaysia’s mission remains unwavering—each success story is a step toward a more equitable education system . Catalyst for Social Mobility Progression They have also discussed the positive ripple effect education has on underprivileged communities. When students from disadvantaged backgrounds thrive, their families and the larger society benefit. Education becomes the catalyst for positive change in many ways, and this video reminds us why it’s so vital to support these efforts. Curious to learn more? Tune in to the full video  on AreWeOK's YouTube channel as they dove deeper into how you can get involved, from supporting the cause to simply spreading awareness on their effort to change lives of underprivileged communities through education. 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.

Money worries are something we all have, especially with the unpredictable market and rising inflation. It is not surprising that many people are experiencing financial stress in their personal lives. Financial stress can manifest itself in a variety of ways, including physical and mental fatigue, distraction at work, and decreased productivity. According to PWC , financially stressed employees are nearly five times as likely to admit personal finance issues have been a distraction at work.  Think about the massive productivity hit! While it's not up to employers to solve all their employees' problems, poor morale and low productivity are not the best for business. In this article, we’ll dive into how employers can play a role in improving their team’s financial well-being.  Why Should Employee Financial Wellness Matter to Employers? If you’re running a business, you know that worrying about money can be very detrimental. It affects a person both personally and professionally at work. As an employer, employee financial wellness matters because it directly impacts your organisation. When employees are financially stressed, they’re less focused, more distracted, and often less motivated. If your employees are facing financial stress, you’ll notice the following in your workplace: 1. A Drop In Productivity  Another study  showed that 70% of employees with low financial well-being were categorised as low performers . Employees spend nearly three hours per week dealing with financial worries during work hours. This distraction can equate to a part-time job, leading to substantial productivity losses for employers. 2. Lateness to Work Additionally, financial stress also contributes to employees arriving late to work. Employees facing financial stress end up being 34% more likely to arrive late to work , which can disrupt team dynamics and overall productivity throughout the day. 3. Frequent MCs and Absenteeism Employees with money worries also tend to miss 3.5 work days a year, almost double that of people with financial wellness. On the other hand, employees who are financially secure are less likely to take time off due to stress-related issues. This results in fewer disruptions and a more consistent workflow. 4. Higher Turnover Rate AKPK  reported that 91 percent of employees with high financial well-being were loyal to their companies , compared to 89 percent of employees with poor financial well-being who were actively seeking new jobs. Naturally, when people are unable to meet their financial obligations (retirement savings, school loan repayments) on the salary your company offers, they will actively seek opportunities from a company that pays a higher salary.   5. Presenteeism Your employees may also display another form of unhealthy work attendance, known as presenteeism. In some cases, employees work despite being sick, which may result in higher health care costs for your company later. The average annual cost of health-related absence and presenteeism per organisation in Malaysia is estimated at RM2.7 million . Additionally, this can also lead to an unhealthy work culture, poor working conditions, and decreased productivity. How to Include Financial Wellness in Your Company Package 1. Educate Employees on the Importance of Financial Literacy Did you know that while 74% of Malaysian working adults are keen on learning more about personal finance , only 48% of companies actually offer these financial courses? By providing financial literacy resources—like workshops, seminars, or even online courses on topics such as budgeting, saving, investing, and managing debt—you’re helping your employees take control of their financial future. When your team has the tools to make informed financial decisions, they’re less stressed and more focused at work. It’s a win-win for everyone! 2. Offer Earned Wage Access for Financial Wellness Beyond financial literacy education, consider offering employee benefits that promote financial wellness, like earned wage access. With the rising cost of living, 28% of full-time employees report always running out of money between paychecks . Having the option to withdraw earned wages before payday can be a real game-changer for both your employees and your business. Earned wage access (EWA), also known as instant pay, is a financial service that allows employees to access a portion of their earned salary before their scheduled payday.  79% of employees have expressed a greater willingness to switch to employers offering EWA . By giving your employees the financial flexibility to cover unexpected emergencies or monthly expenses, you provide them with the assurance and peace of mind they need to manage their finances better. When employees feel supported in this way, they’re less stressed and more focused, leading to better productivity and job satisfaction. 3. Simplify Your Payroll with Setgaji's Flexible Financial Solutions Now, if you’re wondering how to make this happen without causing cash flow headaches, Setgaji  has you covered. Setgaji  is a financial wellness platform designed to simplify the process, offering a streamlined payroll system that takes care of your payroll costs upfront, letting you repay them later. This means you can offer early-wage access without any financial strain on your company. With Setgaji , you also have the flexibility to customise withdrawal limits for each employee. And the best part? It’s a paperless, hassle-free solution that gives your staff instant access to their earnings anytime, without adding extra admin work or costs for your organisation. Setgaji  is all about making financial wellness easy for both you and your employees. Conclusion Investing in employee financial wellness isn’t just about offering a pay cheque; it’s about fostering a work environment where employees feel secure, supported, and valued. Benefits that truly address employees’ needs can make a big difference in attracting and retaining top talent. By offering financial wellness perks, you’re not just helping your employees—you’re also building a stronger, more loyal team that’s ready to stick with you for the long haul. Start taking steps today to improve financial wellness in your organisation, and you’ll likely see the positive impact it has on your team and your business. To gain deeper insights, watch the full video on MrMoneyTV 's YouTube channel . 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.

Let’s be honest—budgeting and managing finances is an ongoing task that requires constant attention. While it’s crucial to be mindful of big purchases, it’s often the small, everyday habits that quietly drain your wallet. These money leaks can add up quickly, making it harder to save or meet your financial goals. In this article, I’ve listed down 15 common habits that might be eating into your budget without you even realising it. No matter your financial situation, identifying and eliminating these unnecessary expenses can help you save more for the things you really need—or truly want! Note:  This isn’t about cutting out all your small pleasures; it’s about being aware of where your money goes so you can make more informed choices. After all, a little indulgence now and then is perfectly fine—everything in moderation! 1. Buying Bottled Water Staying hydrated is essential, especially in Malaysia’s heat. But if you forget to bring your own water bottle, you’ll likely end up buying bottled water. While it might seem like a small expense, it adds up over time. At RM2.50 a bottle, you could be spending RM75 a month or RM900 a year! So, make it a habit to carry a reusable water bottle whenever you head out. 2. Missing Credit Card Repayments Skipping out on your credit card payments will cost you a lot of fines and penalties. Credit cards are known to have the highest interest rates, up to 18% p.a. That means the larger the amount left unpaid, the higher the interest charges. If left unchecked, you could find yourself in credit card debt very quickly. If you have trouble keeping track of your deadlines, then set a reminder earlier than your payment deadline to avoid paying the late interest fees.  3. Unused Gym Memberships Many of us sign up for gym memberships with the best intentions, only to stop going after a few weeks. If you’re not using your membership regularly, cancel it and explore free exercise options like jogging or home workouts on Youtube instead. 4. Fast Fashion Shopping Buying cheap, trendy clothing might feel like a good deal, but it adds up over time, especially when the items quickly go out of style or fall apart. Invest in a few quality pieces that last longer and save money in the long run instead. 5. Withdrawing Cash from Out-of-Network ATMs Withdrawing money from out-of-network ATMs might cost you RM1 here or RM2 there, but it adds up fast. Stick to your bank’s ATMs to avoid these unnecessary fees or better yet, switch to using a digital e-Wallet like TNG or MAE app instead.  6. Unhealthy Lifestyle Habits Smoking and excessive drinking not only harm your health but also your wallet. Malaysians spend approximately RM15.85 billion each year on smoking  and tobacco substances. Additionally, Malaysians also end up spending an estimated RM16 billion annually  on treating smoking-related illnesses, such as cardiovascular diseases and lung cancer. Not only are these habits damaging to your finances, but also your health!  7. Buying Lottery Tickets (Toto) While the allure of hitting the jackpot at Toto seems tempting, the odds of winning are extremely low. The chances of winning the Supreme Toto 6/58 game  jackpot are approximately 1 in 40,475,358 and regularly purchasing lottery tickets is more likely to result in financial loss rather than a substantial gain. 8. Not Comparing Prices While it may take slightly longer than usual, comparing prices of items like clothing or groceries in different locations might help you save a few extra ringgits along the way. I get it; not everyone has the luxury of time to window shop, but thankfully we live in modern times, you don’t even have to leave your homes to check prices these days. In fact, you can use apps that show you prices in different stores, such as Hargapedia  or SmartShopper .  9. Traffic Offences Speeding is one of the most common traffic offences in Malaysia and can result in hefty fines, depending on how much you exceed the speed limit. For instance, speeding more than 40 km/h above the limit comes with a hefty saman (fine) of RM300 for all vehicles, with no discounts for early payments! To avoid these costly penalties, always drive within the speed limits, park legally, and avoid using your phone while driving. Staying on the good side of the law not only keeps you and others safe on the road but also keeps your wallet from running dry.  10. Frequently Dining Out  With food prices in Malaysia rising by 2% , frequently dining out—especially for work lunches—can take a serious toll on your bank account. Packing your own lunch is a smart way to cut your monthly food expenses in half. For instance, instead of spending RM200 a month on eating out, you could reduce that to just RM100 by bringing your lunch from home half the time. Not only will you save money, but you’ll also enjoy the added health benefits of preparing your own meals.   11. Sending ALL Your Clothes for Dry Cleaning Not all your clothes need to be sent for dry cleaning. Dress shirts, blouses, trousers, skirts—these can usually be washed in the machine on a gentle cycle with cold water. If an item is very expensive, delicate, or you're unsure, it's safest to dry clean. But for many everyday clothes, washing at home can save you a lot of money and keep your clothes looking great for longer. Just be gentle and avoid the dryer when possible. 12. Keeping Unnecessary Subscriptions Do you really need all those streaming services and premium subscriptions? If you’re subscribed to Netflix, Amazon Prime, or other services that you barely use, consider cancelling them. You can always resubscribe if you really miss them, but in the meantime, you’ll save a significant amount each month. 13. Skipping Your Medical or Dental Checkups Neglecting your regular medical or dental checkups can cost you in the long run. Your health should always be a priority, and addressing symptoms early on can save you a lot of money—and pain. For example, if you notice unusual tooth sensitivity, don’t just ignore it! A prompt visit to the dentist could prevent a small issue from turning into a costly root canal, which can be nearly three times more expensive. Similarly, delaying a doctor’s visit could result in a hefty medical bill down the line. 14. Paying Yourself Last This one is a huge deal-breaker. When you don’t pay yourself first—setting aside a portion of your income for savings before anything else—you risk spending your entire pay cheque on expenses and wants. By consistently saving a percentage of your income first, you can build an emergency fund, invest for the future , and ensure your financial security. Make paying yourself first a non-negotiable habit, and watch your savings grow. 15. Having Too Much Cash Holding excessive amounts of cash can be detrimental to your financial health. Traditional savings accounts offer you minimal interest rates, often lower than the inflation rate. This means that your cash is effectively losing value rather than growing. Additionally, cash sitting idle in your bank account means missed opportunities for growing your wealth. Keep only what you need for daily expenses and emergencies. If you prefer to keep some cash liquid, look for high-yield savings accounts  that offer better interest rates than traditional savings accounts. (Learn how to invest RM100 every month !) Conclusion These small habits are often overloooked but they can slowly drain your finances if you’re not careful. Identify and elimiate these money leaks, so you can better manage your budget, save and work towards your financial goals. Being mindful of where your money goes doesn’t mean you have to cut out all the things you enjoy—it’s about making intentional choices that align with your long-term financial well-being. Start addressing one or two of these habits, and you’ll be surprised at how much you can save over time! 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.

Alamak! It’s two weeks until payday, and you’re already low on cash?! Where did all that money go? If this sounds familiar, you’re not alone. It’s easy to lose track of where your money goes. Managing expenses can be a hassle—sometimes, it even feels like a full-time job. Budgeting apps are a great tool to help you stay on top of your spending. Let’s dive into the top five budgeting apps that can help you manage your money effectively. 1. Wally Wally is an AI-powered budgeting app that helps you keep track of your finances. It automatically tracks income, spending, pending bills, budgets, and just about everything financial. You can sign in with your email address, set savings goals, create daily budgets, log expenses and income, track expenses over time, set bill reminders, and more—all presented in a timeline feed or calendar. The app allows you to sync all your accounts and payments with over 15,000 banks in 60 different currencies across 70 countries. While the app is mostly free, it offers additional in-app features you can purchase, like a customised budget tool, handling foreign accounts, and additional currencies. Subscription Fee: Free (with in-app purchases) Platform Availability:   Google Play 2. Money Coach  Money Coach boasts a 4.6 rating on the Apple Store. It’s a comprehensive budgeting app that offers personalised guidance and a suite of tools to make managing money easier. The Quick Entry feature lets you create a transaction shortcut in just 2 seconds. Other key features include automatic expense tracking with auto-categorisation, customised budgets for various spending types, savings goals, and access to educational resources on personal finance. T he app also connects directly to your bank accounts to automatically import and categorise transactions , so you'll have a complete view of your expenses and savings across checking, savings, credit card, and investment accounts. A bonus point for this app is that it automatically syncs data across your iPhone, iPad, and Apple Watch at the touch of a button. Subscription Fee: Free with in-app purchases. Subscription offers additional bonus features from the early development team. You have the option to test them with a free trial; after the trial period, a monthly subscription fee is required to continue using the app and its services. Platform Availability: App Store 3. YNAB (You Need A Budget) If you’re serious about your financial goals, then you can learn to do money differently with the YNAB app . This award-winning budgeting app helps users achieve their financial goals using a zero-based budgeting approach . Y ou can organise your finances by linking your bank accounts, credit cards, and loan balances, all in one place for a centralised view of your finances. The app then guides you on how much of your income should go towards various categories such as goals, savings, debt, and expenses. For those looking to increase their financial literacy, YNAB includes financial education resources like free live classes offered by financial experts. Subscription Fee: 34-day free trial, followed by a monthly subscription of $14.99*/month (approximately RM65/month) Platform availability: Google Play  | App Store 4. Wallet: Budget & Money Manager (BudgetBackers) Wallet stands out as the best overall free app. It has the high ratings both on the App Store ( 4.6 ) and Google Play ( 4.7 ). The app is designed to help users save, plan, and manage their finances all in one place. A unique feature of this app is its use of AI to generate automatic daily spending tracking and provide weekly spending reports. Another major plus is that the developers, BudgetBackers, do not sell customer data to third parties, so you don’t need to worry about your privacy. Subscription fee: Free  Platform availability:   Google Play  | App Store | Web App 5. Bill Organizer Budget Planner (TimelyBills) Never miss a bill again with Bill Organizer Budget Planner (TimelyBills) . This app is one of the top-rated, reliable bill reminders and budget planners out there. It’ll automatically remind you to pay your bills and keep you on track to pay off your loans. It also acts as your personal financial advisor to ensure you stay within your budget. You can see how much you need to save for retirement with the built-in retirement calculator. You can even download your expense reports into PDF and Excel formats to document your finances. Subscription Fee:  Free  Platform availability: Google Play  | App Store   Disclaimer: All prices listed are accurate at the time of writing; however, prices may vary at the time of purchase.  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.

Bitcoin is often perceived in two distinct ways: some see it as digital gold , a stable store of value, while others treat it like a tech stock that is prone to market fluctuations. As of late, Bitcoin has been particularly volatile , with prices plunging to around $48,000 before rebounding to the $61,000-$62,000 range. This rapid movement has left many investors concerned about the stability and future of their crypto assets. Why is Bitcoin's price falling? The recent drop in Bitcoin’s value , along with declines in the broader equity market, can be traced back to several macroeconomic factors :  1. Weak economic data Weak economic data from the U.S., such as disappointing job reports and high inflation , has contributed to a shift in market sentiment. Investors have become more risk-averse, leading to declines in speculative assets like cryptocurrencies. 2. Interest Rate Hikes The Bank of Japan's surprise announcement of interest rate hikes has also weighed on Bitcoin and other crypto prices. Higher interest rates make holding cash more attractive relative to riskier assets. The U.S. Federal Reserve has also been raising rates aggressively to combat inflation, which has put downward pressure on Bitcoin . 3. Shift to Risk-Off Sentiment As a speculative asset class, cryptocurrency is especially sensitive to changes in market sentiment. When economic conditions deteriorate, investors tend to shift to a "risk-off" mode , selling riskier assets like Bitcoin in favour of safer havens like the U.S. dollar. This shift in sentiment has contributed to the recent crypto market downturn. 4. Leverage and liquidations Many crypto traders use leverage to amplify their gains. However, leverage also magnifies losses. When the market moves against leveraged positions, it can trigger rapid liquidations, driving prices even lower. The use of leverage has intensified the recent price drops in Bitcoin and other cryptocurrencies. Bitcoin’s Market Fundamentals and Future Despite Bitcoin’s recent market turbulence, some investors remain optimistic, seeing the dip as an opportunity to buy. The fundamental reasons for investing in Bitcoin —such as its potential as a hedge against inflation and its limited supply—are still strong. However, it’s crucial to recognise that Bitcoin’s market dynamics are still heavily influenced by sentiment and macroeconomic factors, making it difficult to evaluate using traditional financial metrics. There has also been discussion about the possibility of countries adopting Bitcoin as a strategic reserve, a concept that has already been embraced by some companies. While technically feasible, this idea introduces new risks and challenges, particularly in managing the security of such assets. Bitcoin’s Price Outlook Looking ahead, Bitcoin’s price may continue to rise, particularly if positive developments in the global cryptocurrency market coincide with the upcoming U.S. election. Historically, Bitcoin has shown a pattern of reaching new highs after surpassing previous records. However, investors should remain cautious, as geopolitical events could significantly impact Bitcoin’s price. For more in-depth insights on the current state of crypto, I decided to ask Tokenize Malaysia’s  CEO why Bitcoin prices haven't pumped to the moon! Watch the full video here .  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.