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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. 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.

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.

As healthcare costs continue to rise , choosing the right medical insurance or Takaful plan in Malaysia has become increasingly important.  In 2024, the variety and flexibility of policies available make it possible for individuals to find coverage that best suits their needs and financial situations. So here are the top 5 medical insurance and takaful options in Malaysia.  1. Prudential PRUValue Med Medical Card Limits Annual Limit: Not Applicable Lifetime Limit: Not Applicable Coverage and Benefits Based on their brochure , Coverage Age 18 gestational weeks - 100 years Number of Panel Hospitals 93 Investment-Linked Plan Yes My Review I think this health insurance is quite an  all-rounder . It covers most medical expense s more than adequately and has an  investment-linked pla n which is good for those who have a hard time saving on their own and a relatively  broad network of panel hospitals .  The “not applicable” lifetime and annual limit is also quite reassuring because it means that the policy offers unlimited coverage  for medical expenses, subject to other terms and conditions of the policy.  2. AIA A-Plus Health Medical Card Limits Annual Limit: From RM500k up to RM2m, depending on chosen plan Lifetime Limit: No Limit Coverage and Benefits Based on their brochure , Coverage Age 14 days - 100 years Number of Panel Hospitals 94 Investment-Linked Plan Yes My Review Similar to the Prudential PRUValue Med Medical Card, this insurance is also quite an all-rounder . However, a really cool addition that AIA offers is their  Health Wallet  which rewards policyholders with additional benefits  if they stay healthy and essentially go without claiming anything in a year.  One thing to note is that there are four plans you can consider and if you choose their lowest plan, Plan 150, your annual limit and certain coverages will be lower – which is expected.  So, it’s best to understand what kind of plan would be best for you in terms of coverage and budget.  3. FWD Insurance Medi First by BSN Limits Annual Limit: From RM1m up to RM5m, depending on chosen plan Lifetime Limit: No Limit Coverage and Benefits Based on their brochure , Coverage Age 30 days - 100 years old Number of Panel Hospitals 184 Investment-Linked Plan Yes My Review This insurance policy by BSN covers the standard medical expenses, although not by a lot but still a pretty good amount. One thing that I especially like is the Government Hospital Daily Cash Allowance of RM200  which should be able to offset the cost of a regular doctor’s check-up. Among all the medical insurance and takaful on this list, this policy has the most number of panel hospitals  (possibly because it’s BSN and has some ties to the government) which is a great thing, especially if you’re living on the outskirts of town. 4. Manulife Health Saver Benefit + MHSB Booster Limits Annual Limit: From RM1m up to RM2.2m, depending on the chosen plan Lifetime Limit: No Limit Coverage and Benefits Based on their brochure , Coverage Age 30 days - 99 years old Number of Panel Hospitals 93 Investment-Linked Plan Yes My Review This insurance policy has a really high annual limit  even if you choose the lowest plan which is pretty amazing. However, the coverage is not as comprehensive as the previous ones above.  With that being said, I think if you’re considering this policy, it’ll be a good idea to sign up for the MHSB Signature plan as the benefits are notably higher than the other three plans. Of course, this is if it fits your budget. 5. Takaful myClick MediCare Medical Card Limits Annual Limit: From RM50k up to RM100k, depending on chosen plan Lifetime Limit: Not Applicable Coverage and Benefits Based on their brochure , Coverage Age From 30 days Number of Panel Hospitals 98 Investment-Linked Plan No My Review This medical takaful policy covers the very basic medical expenses at a relatively low cost. And since it’s a takaful plan, 38% of the contribution is deducted upfront as the Wakalah fee and it’s not an investment-linked plan.  Personally, I think this policy is good enough if you’re young or just started working but as you get older, getting a more comprehensive plan would be best as the risk of falling sick is higher. Which Medical Insurance or Takaful Is The Best For You in Malaysia? Ultimately, choosing the best medical insurance or takaful in Malaysia depends on six factors: Budget and Affordability Determine how much you can comfortably spend on premiums and consider plans within your budget. Healthcare Needs Assess your healthcare needs based on age, health conditions, family history, and lifestyle. Coverage Scope Look for a plan that covers essential medical services you might need, including hospitalization, surgery, outpatient services, and any specific treatments. Network of Hospitals Consider the network of panel hospitals and whether they are accessible and meet your standards. Additional Benefits Evaluate any extra benefits like health screenings, wellness programs, or international coverage. Policy Terms Understand the terms, including limits, exclusions, claim processes, and renewal conditions. Personally, I think the best choice for you is one that will balance cost, coverage, and convenience according to your circumstances and preferences. 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.

One of the first financial tools most of us will get once we start working is a credit card. And these days we are spoilt for choice with countless credit cards offering numerous benefits and rewards. Among the most popular are cashback credit cards. These cards return a portion of what you spend, directly reducing your monthly bill. So, here are the top 5 cashback credit cards in Malaysia with a monthly minimum income as low as RM2,000! P.S. I've also left a little review and pro-tip for each credit card so you'll know exactly what you'll be getting! #1 Standard Chartered Simply Cash Credit Card Features e-Commerce Purchase Protection up to USD200 Fees and Charges Eligibility Minimum Income: RM36,000/year or RM3,000/month My Review I think this card is great for big spenders. With up to RM60 cashback every month, it's one of the highest among this entire list. And not to mention, you can also bypass paying the annual fee when you spend a minimum of RM12,000 a year; so, one big purchase and your annual fee is waived (unlike other cards which may require you to spend every month to have the fees waived). On that note, just because you get cashback doesn’t mean you should spend excessively. It's a common misconception that more spending means more rewards. But remember, the cashback is only a fraction of what you spend. So, stick to your budget and spend within your means. The goal is to earn cashback on necessary and planned expenses, not to spend just for the sake of earning rewards. #2 RHB Cash Back Visa Credit Card Features Fees and Charges Eligibility Minimum Income: RM24,000/year or RM2,000/month My Review To me, this card is quite an all-rounder because regardless of how much you spend and what you spend on, you will still get a percentage of cashback. So, by the end of the month, you can expect to get up to RM10 "deducted" from your overall bill. But of course, the more you spend, the higher the cashback lah. Here's a pro-tip: To truly benefit from cashback, avoid carrying a balance on your card. This is because interest charges can quickly negate any cashback earned as it keeps compounding with each month your bills go unpaid. One way you can stay on top of your bills is by setting up automatic payments or reminders to ensure you always pay your bills on time to avoid late fees and interest. #3 UOB One Card Features Fees and Charges Eligibility Minimum Income: RM24,000/year or RM2,000/month My Review Pretty similar to the RHB Cash Back Visa Credit Card, this UOB card is quite versatile as well. I also heard that it's relatively easy to have your application approved therefore, in a way, this card is "easily accessible". The only downside would be the annual fee. Unlike most credit cards, this card doesn't waive the first year's annual fee and there are no fee waivers for subsequent years. So, just be ready to fork out RM120 every year lah. In conjunction with World Financial Planning Month this October, here's a tip to ensure you're getting the most out of your credit card: Make sure you regularly review and update your card. This is because there are constantly new offers and promotions emerging so you’ll want to review your card's benefits at least once a year to ensure you still have the best card for your spending habits. #4 AEON BiG Visa Gold Card Features Complimentary access to Plaza Premium Lounge (3X per year) Up to RM200,000 Travel Insurance coverage Rewards Fees and Charges Eligibility Minimum Income: RM36,000/year or RM3,000/month My Review This card is as good as it comes. Not only is the minimum income relatively low but the cashback and additional rewards are quite impressive too! Issued by the household-named grocery store, AEON, this card offers competitive rewards if you frequently shop there. Not to mention, you can easily get your annual fee waived as it only takes 12 swipes annually (which I’m sure can be achieved if you go grocery shopping at least once a month). One advice I have for those who have two or more credit cards is to optimize your spending habits according to categories. In other words, use the card that offers the highest cashback in a specific category. For example, the AEON BiG Visa Gold Card would be a great card for grocery shopping and petrol transactions; whereas the Standard Chartered Simply Cash Credit Card is great for dining out. So, if you were to get both, I would suggest you use them for those respective categories to get the most out of your cashback credit cards. #5 Alliance Bank Visa Signature Credit Card Features Complimentary RM80 e-hailing to Airport (2X per year) Fees and Charges Eligibility Minimum Income: RM48,000/year or RM4,000/month My Review The minimum income required for this card is the highest among the rest on this list but the highlight of it is that the cashback rewarded is UNCAPPED! Just by spending as little as RM1 on most transactions, you can already start getting cashback on your overall bill. But of course, you’ll want to understand the terms and conditions that come with the card. So, whether you’re getting this card or any of the credit cards above, you should do your research and determine if the card you’re getting suits your needs and lifestyle. Already have a credit card but it’s not a cashback card? Don't worry! You can also take advantage of it by following this comprehensive guide. Which Cashback Credit Card Is The Best For You in Malaysia? At the end of the day, it all comes down to your spending habits, lifestyle and personal needs. Maybe an extra incentive when choosing the right card for you is to look out for other benefits like loyalty points, travel benefits, or complimentary insurance. Personally, I prefer using a cashback credit card in Malaysia because I can reap the benefits “instantly” when my bill is due. In comparison to a rewards credit card, I’ll just be accumulating points and never redeeming them (because I don’t have time to keep up with the rewards being offered). If you’re still unsure about credit cards, here are some common FAQs that may help you along this journey. 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.

Want to invest in big name stocks but can’t afford to take out a huge chunk of your savings to do so? Then you might be interested in fractional shares. Fractional shares allow you to purchase pricey stocks and ETFs for less. They offer the same benefits as whole shares, including the right to receive a proportion of any dividends per share that may be paid by the company. This might be a great option if you’re a beginner investor looking to dip your toes into investing or if you’re a trader looking to diversify your portfolio without investing all your savings in a single company. In this article, you’ll learn about fractional shares, how they work, and how you can get started on fractional trading. Let’s dive in! What are fractional shares? Fractional shares are parts of a whole share of a company's stock. Instead of buying an entire share, you can purchase just a portion of it, allowing you to invest smaller amounts in high-priced stocks. Think of a whole share as a pizza. Instead of buying the whole pizza, you can buy just one or two slices. Similarly, with fractional shares, if a full share costs $100, you can invest $20 and own a fraction of that share. This way, you can start investing with smaller amounts and still own a piece of high-value stock. Real-Life Example: Apple Stock Split Let's use a real-life example with Apple. In August 2020, Apple announced a four-for-one stock split. Before the split, if you owned 1 share of Apple worth $400, after the split, you would own 4 shares, each worth $100. Despite the split, the total value of your Apple stock remains unchanged ($400), but you now hold more shares, each priced lower. For fractional shares, if you owned half an Apple share worth $200 prior to the split, you would now own one share worth $50 each. The overall value of your holdings remains $200. This makes investing more accessible, allowing you to own a portion of high-priced stocks without spending a large sum of money upfront. The Pros of Fractional shares Lower Entry Barrier Fractional share trading lets you invest in small sums of money, which makes it a great option for beginner investors looking to start their investment journey without forking out a large investment upfront. This will help you get into the market sooner and start benefiting from compounding returns. Do More with Less With fractional shares, you can diversify your portfolio and spread your investments across a broader range of assets. Diversifying your portfolio is a fundamental principle in building a robust portfolio to mitigate your risk of losses if one of your shares starts to dip. Fractional investing allows you to invest in multiple shares, often for as little as $1 to $5 each. Essentially, even with a small investment, you will have a wider range of stocks than you might otherwise have. Monthly Investing Fractional trading is ideal for monthly investing because you can start investing without the need to commit larger sums of money upfront. This makes it easier to stick to a consistent investment strategy over time. Dollar-cost Averaging Fractional shares allow you to take advantage of dollar-cost averaging. Dollar-cost averaging lets you invest a set amount of money at regular intervals, regardless of the stock's price at the time. You invest the same amount regularly, which helps you buy more shares when they're cheap and fewer when they're expensive. Fractional shares make this easier because you can always invest your full amount, even if you can't afford a whole share. This helps you save money over time and makes your investing smoother in the long run. The Cons of Fractional Shares Limited Availability Not all stocks or ETFs are available for fractional trading, so it’s best that you do your research depending on which investment platform you’re trading on. No Voting Rights Fractional shares might not come with the same stock ownership privileges as whole shares, such as voting rights in shareholder meetings. This means you may not have a say in company decisions, unlike whole share owners. Liquidity Selling fractional shares may take longer compared to whole shares, as fractional shares don’t trade as frequently. This could potentially impact your ability to exit positions quickly, especially during times of market volatility. Psychological Impact While fractional shares make investing more accessible, it's essential to be mindful of overimpulsive decisions. Just because a stock is affordable doesn't necessarily mean it's a good investment. The relatively small investment amounts may lead to hasty decisions, which could accumulate over time and affect your overall investment performance. Where Can I Buy Fractional Shares? There are plenty of brokers that offer fractional share trading. moomoo has recently rolled out its fractional trading feature. With moomoo, you can buy or sell fractions of stock and ETFs starting from as little as $5 or a minimum order size of 0.0001 share. However, it's worth noting that fractional trading on moomoo is currently available only for certain US stocks and ETFs. moomoo offers fractional share trading with 0% commission fees. This means you can trade fractional shares without incurring additional costs such as settlement fees, SEC fees, or trading activity fees. So, you can enjoy the freedom to invest in fractional shares of your favourite stocks and ETFs without worrying about extra charges. How to Buy Fractional Shares If you are new to investing and want to start with fractional shares, look for a broker that provides fractional share trading. moomoo, for example, is an excellent investment platform for beginners that makes trading fast, simple, and accessible. Here’s how you can get started: 1. Research and Choose Your Stocks Take some time to research the stocks or ETFs you’re interested in. Look for companies with strong performance histories or those in industries you believe in. Consider reading up on their financial health, market position, and future prospects. You can use the “Industrial Chains” feature on the moomoo app to get a comprehensive understanding of popular industries and related stocks. To access it, click on the Market tab, then navigate to US > Industrial Chain. 2. Open an Investment Account Not all brokerage platforms support fractional shares, so choose one that does. If you haven’t already, you can open your investment account here. 3. Deposit Funds After your account is set up, deposit funds into your investment account. Fund deposits typically take a few business days to process, but moomoo's FPX Express Deposit feature allows you to transfer funds in as little as 5 minutes. 4. Start Buying Fractional Shares Navigate to the Markets tab on the moomoo app and ensure you’re on the US Market section. Then, tap on Fractional Shares to see the list of available stocks. Decide how much money you want to invest, whether it’s $5 or a higher amount, and place your order. 5. Monitor Your Investments Following your fractional share purchase, monitor your assets, evaluate your returns, stay up to date on market developments, and make any necessary portfolio adjustments. Conclusion Buying fractional shares makes trading more accessible to new investors and traders alike, as it allows them to enter the market with a lower entry barrier to become familiar with investing and to diversify their portfolios without requiring substantial capital. 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.

Malaysia, with its strategic location in Southeast Asia and rapidly growing economy, has long been a hotspot for property investments. Among its many regions, the Klang Valley stands out as the crown jewel, becoming the go-to location for both domestic and international property investors. So, here are the top 5 properties with the highest capital appreciation and rental yield that you can invest in this year. Top 5 Property Investments in Klang Valley #1 The Estate, Bangsar South Sources: EdgeProp, Land.plus, iProperty #2 Novum @ Bangsar South Sources: EdgeProp, Land.plus, iProperty #3 South Brooks @ Desa ParkCity Sources: iProperty, EdgeProp #4 The Park Sky Residences, Bukit Jalil Sourcers: iProperty, EdgeProp #5 Sri Desa, Kuchai Lama Sources: iProperty (1) (2) My Criteria For Property Investments There you have it, these are my top 5 picks of some property investments within the Klang Valley you can consider for your own portfolio. To me, my decision to invest in a property depends on its capital appreciation, rental yield, and overall property appeal. In terms of capital appreciation and rental yield, for most of the five properties, the capital growth rate is well beyond the average of 6% - 8% and they also provide a good rental yield of up to 8% when the average rental yield these days is only around 4% - 5%. On the other hand, when it comes to the overall property appeal, there are a few common features that these five properties share. 1. Transport-Oriented Development (TOD) When I take a look at these 5 properties, it achieves my topmost criteria – the property's location relative to Transport-Oriented Developments (TOD). All five properties are located relatively near to some form of public transportation. And when properties are close to public transportation, especially LRT and MRT stations, it is able to command higher demand. Think about it - who wouldn't love to have a train station right around the corner? It's super convenient, especially when you don't want to get stuck in horrendous traffic jams or simply don’t have a car to drive. 2. Highway Connectivity Another non-negotiable for me is how well-connected a property is to major highways. The good thing about these five properties is that they have easy access to highways like the Federal Highway, LDP, and NKVE. To me, this means future buyers or renters will have reduced commute times and hassle-free connectivity to other parts of Klang Valley and beyond. If that’s not a good selling point then I don’t know what is! I truly believe that properties with good highway connectivity tend to have a competitive edge in the rental market and also show promising capital appreciation over time. 3. Matured Commercial Area More often than not, a mature commercial environment encompassing malls, offices, and other amenities like educational institutions and hospitals, increases the attractiveness of a property. This is why, the top 5 properties I’ve chosen are in areas that are located in bustling business and/or entertainment hubs. In my opinion, it's not just about convenience; it's also about the vibrant urban life and the multitude of employment opportunities these hubs bring with them to the properties nearby. So, investing in such areas assures me of a steady rental demand and over time, a great deal of capital appreciation. 4. Fantastic Place Making Property investment trends these days are not just about brick and mortar; they're about experiences. That is why I'm always on the lookout for modern properties that champion 'place-making' or in other words, engaging community spaces for its residences. Properties like The Estate and The Park Sky Residences are developments where residents can find pockets of relaxation, communal spaces for interactions, and even recreational facilities within their premises. So, I always give bonus points to properties with neat communal areas, gardens, or even a fun play zone. It's these little touches that make a place feel like home and attract people to rent or buy. Not to mention, with so many facilities, rental rates can be increased which further ensures better yields. 5. Big Property Size While compact homes have their market, I've found a consistent demand for properties that are spacious, especially those exceeding 1,500 square feet which is why a good majority of the properties on this list are on the more generous side when it comes to space offering. From my point of view as a property investor, I’ve noticed that families, in particular, prioritize roomier homes for maximum comfort. Moreover, spacious units provide flexibility in terms of interior design and layout adjustments, allowing tenants or homeowners to customize their spaces according to their preferences, a factor that many appreciate. So, in my opinion, an investment in sizable, “bigger” properties almost always guarantees a better return within the Klang Valley. I hope these pointers helped you make certain decisions the next time you’re considering buying a property for investment purposes. Oh! One more thing, recently, I also came across a new development that fits into my criteria for property investment and that is Bon Kiara in Solaris, Mont Kiara. The property itself is located in a prominently mature area where there are malls like 163 Retail Park, 1 Mont Kiara and various offices as well as businesses. If you’ve been to the area a lot, you’ll also notice that it’s a high-demand location among expatriates who live in the nearby condominiums. Personally, I own a property in Mont Kiara so I can safely say that you’re able to demand a higher rental price because most of the people there are able to afford it, especially if the property looks as luxurious as the upcoming Bon Kiara. Other aspects like highway connectivity and place-making are also quite impressive as the Solaris or Mont Kiara as a whole is well-connected, easily accessible and pedestrian-friendly. 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 the daily hustle gets too mundane, it's our hobbies that offer a comforting escape. But what if your leisure pursuit could also supplement your income? Here are 13 hobbies that can potentially put more ringgits in your pocket. 1. Batik Painting If you take a trip to Pasar Seni, you can see store after store offering batik painting classes. So, embrace the traditional art and either teach batik painting classes or sell your creations at local markets and tourist spots. 2. Food Blogging If there’s one thing Malaysians can collectively agree on is that our food is the best in South East Asia. Therefore, with Malaysia's diverse culinary heritage, sharing recipes or reviews online can lead to sponsorships or ads. Just look at Ceddy or KLFoodie! 3. Photography This hobby is pretty common and it’s one of the most highly-demanded services when it comes to freelancing. You can offer your services for wedding photography, street photography or even professional photoshoots. The options are endless! Otherwise, you could also capture Malaysia's picturesque landscapes and vibrant street life, and then sell prints of them. 4. Cooking Classes Cooking is a life skill that everyone needs to master so there will always be a market for it, especially if you’re thinking of teaching local cuisine cooking classes. Consider offering lessons in making traditional dishes like nasi lemak or rendang. I’ll be the first to sign up for it! 5. Jewellery Making If you’ve always had a way with arts and crafts, you can look at making jewellery pieces! To make it even more unique, you can craft handmade jewellery inspired by Malaysian culture and sell it online or at pop-up markets like Sunny Side Up or Kedai KL. 6. Reselling Vintage Items Thrifting has become a really trendy option for shopping these days. If you take a trip to Taman Paramount, you’ll see an entire row of stores that curate and cater to the growing thrifting market. To do this, you can start by scouring local flea markets like the one in Kota Damansara for unique finds and reselling them online or in bigger thrifting stores like JBR Bundle. 7. Musical Performances Take your shower singing session onto the streets! Put on a 1-2 hours basking session in Jalan Alor or even perform at local cafes and events. You may not earn that much but at least you’ll be able to share your talent with the crowd. 8. Pet Sitting Always had a soft spot for our furry friends? Consider pet sitting then! You’ll not only get to have a fun time with cute fur babies but you also get to make some extra pocket money! Perhaps you can offer services to busy professionals in your neighbourhood or even work with Petbacker. 9. Tutoring A bit tedious as a hobby but it’s definitely worth considering as a side hustle, especially if you have a way with teaching. Offer language lessons like Bahasa Malaysia, English, or any other language you're fluent in to expats or maths and science to students. You can charge as much as RM150 or more even if it's an online class! 10. Digital Art Have you got an eye for graphic design? Create illustrations for local brands or authors. You can also take on commission jobs from your friends, family or even online! 11. Baking One of the most common online businesses these days is baking. You can start from your home kitchen and if you do well, who knows, you may even open up a bakery! To carve out your unique selling point, you can offer baked goods like traditional kuih or a local twist on modern pastries. 12. Home Stays or Cultural Experiences I’m certain you’ve seen those Airbnb experiences that encompass visits to local tourist attractions and even arts and crafts classes. You can do the same! If you’re big on meeting new people and have a love for sharing our local culture, you can offer tourists a genuine Malaysian living experience. Get them to live with you, if you’re comfortable, and take them to your favourite makan spots to let them experience the true Malaysian life. 13. Freelance Writing Have you always had a way with words? You can look into freelance writing as a side hustle! Offer your services to online brands or even put up a job ad on Fiverr! Should You Make Money Off Of Your Hobbies? Monetizing your hobbies has always been a contentious topic. Some are for it while others prefer to keep it as a leisure activity to relax. Whichever side of the fence you're on, there is no right or wrong. However, if you're serious about making money off of your hobbies, remember that consistency, quality, and authenticity are key. Dive into what you're passionate about, understand the local market's needs, and see how you can transform your hobbies into a venture that can not only bring you joy but also make you some extra money on the side. 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.