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You’ve just clocked out from work, and you’re on your way to the closest shopping mall to grab dinner before you call it a night. Upon entering, you’re greeted by bold, grand, and extravagant decorations in nothing but RED. That could only mean that Chinese New Year is approaching, and it’s time to start shopping for all your needs this season. What you should buy for Chinese New Year Red in Chinese culture is associated with loyalty, success, and happiness. With that said, it is advisable to shop for anything red! Have you been eyeing a certain red cheongsam for the celebrations? Go get it! Red decorations for the house is also a must! These can include red lanterns, couplets for your front door, and even impressive paper cuttings! The most common decoration that most people have in their house is a 福 ‘fu’, which is a chinese character that signifies good luck and happiness. With that said, you should pick one up while you’re doing your Chinese New Year shopping. This decoration item is usually placed upside down, believing that good fortune will descend down onto your homes! You should also remember to do some shopping for when you have to 拜年 ‘bai nian’, or also known as visitations. Visitations are a vital part of the Chinese New Year festivities as it is a time to not only spend time with your loved ones, but to also share the blessings of good fortune with them. Just make sure you don’t gift 4 of the same items as the number 4 is carried with a bounty of bad luck! Have you noticed that the fourth floor in buildings are labelled as “3A” instead? You may think that shopping for Chinese New Year has a strict set of do’s and don’ts, but Chinese culture is also one to not take lightly. Here are a list of items that you should not purchase as well during this festive season. What you should NOT buy for Chinese New Year A little interior designing brings joy to some, and if you’re thinking of spicing up your home for Chinese New Year and want to buy some new decorative items, here are some that you should stay away from as they may bring you more bad luck than good ones! #1 Mirrors Everyone loves a good Chinese New Year OOTD. I personally love seeing my friends and family in their new cheongsam or samfu! However, if you were thinking of spicing up your living space with a new mirror, maybe it's good to give it a second thought as mirrors tend to not only break easily, but breaking things in itself is already a bad omen. #2 Fresh cut flowers A fresh bundle of blooms not only looks pretty, but it also adds a pop of colour for the house. And if you’re hosting an open house this year during Chinese New Year, it’d be a nice centrepiece on the dining table. However, fresh cut flowers are typically for funerals, especially yellow chrysanthemums and flowers that are white in colour, and they represent death. Instead, opt for fake flowers and create your own bespoke centrepiece! #3 Pears If you’re on a grocery run to prepare a wok-hei cook up this Chinese New Year, or even thinking of gifting pears during your visitations, avoid buying fruits such as pears because in mandarin and cantonese it sounds like 离 “Li” and “Lei” which means to have someone leave you, or for a relationship to come to an end. Breakup season was so last year, we don’t need another one when the year has just begun. #4 Books Are you a massive book worm and wanted to get yourself this new novel you saw go viral on TikTok? It’s Chinese New Year, go out and enjoy your time with your loved ones and collect as many red packets while you can! That novel isn’t going to run away and it can wait to be purchased after the festivities are over… Books sound like 输 “shu” (lose) in mandarin, and purchasing books for Chinese New Year signifies that you could be losing fortune. I for one would want all the fortune I can get this Chinese New Year. #5 No sharp objects I don’t think there is anyone in this world who enjoys getting backstabbed by someone who they hold close to their hearts. And while I think most people are aware of this, purchasing sharp objects such as knives or scissors actually signifies the cutting of wealth and relationships. #6 Shoes Shoes in Cantonese sound like a sigh, as it is pronounced as “hai”. Many believe that purchasing shoes during the festive season will lead you to sighing all the time, and who likes to hear that attitude? Do not buy four (4) of the same things In mandarin, the number four sounds similar to the word “death”. As mentioned earlier, you should not buy items amounting to the multiple of fours. As you rush off to your Chinese New Year shopping spree, remember that the choices you make can impact the fortunes of the coming year, and remember to be cautious when considering items like that could potentially bring unwanted energies and superstitions into your life. Wishing you a prosperous and joyous Year of the Dragon! We hope it will be filled with auspicious beginnings and cherished moments with loved ones. 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.

Our society is always changing, right? We’re no longer seeing those old school ideas about men and women. All those rigid boundaries are fading and it’s making room for a more dynamic blend of gender roles. But this shift doesn’t erase the unique biological and physical differences between men and women - as the old saying goes, “men are from Mars, women are from Venus.” Harvard Health highlights an overlooked reality: men often face more chronic illnesses and shorter life spans compared to women. Prudential pays attention to these kinds of things! That’s why they created PRUMan and PRULady - specialized gender-specific critical illness plans. These plans are not just insurance; they’re finely tuned to cater to the distinctive needs of both genders. Now, let’s shine a spotlight on what makes PRUMan and PRULady stand out. Robust coverage up to 260% for Bouncing Back and Living It Up Face a diagnosis with confidence, with a guaranteed 100% payout and up to 60% for your recovery journey. Plus, for an early sign of cancer, like Carcinoma-in-situ, they provide a 50% lump sum payout. And they’re even throwing in fertility care coverage – yup, up to RM 15,000 per life! Cheers to Your Victories: A Bonus for Every Win with PRUMan and PRULady Imagine scoring that long-awaited promotion at work! Friends and family are cheering, and guess who's joining the celebration? PRUMan and PRULady, handing you a cash reward. The best part? Life’s full of these big moments – marriage, homeownership, parenthood, and retirement. Bag up to 3 rewards, each worth 3% of your basic sum assured (BSA). Full-On Well-being, Inside Out! Prudential cares about the good stuff – not just major life events, but your overall well-being. Struggling with mental health or battling acne? PRUMan and PRULady offer coverage up to RM 5,000 per life to deal with these. Because feeling good means taking care of yourself, inside and out. Cheers to Your Golden Years: Bonus Bonanza! Hit 60, and it's party time! PRUMan & PRULady are throwing in a cash reward – 5% of the total premium paid. The fun continues at 65 with another 5%. And the cherry on top? At 70, you get 100% - in total you’ve racked up 110% of all your premiums back. That’s more dough for living it up in retirement! Ready to kickstart your wild, free, and carefree journey with PRUMan and PRULady? They’re more than just plans; they’re your ticket to financial freedom and solid support. Click here to dive into the awesomeness! 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.

These days, dividends have emerged as a cornerstone for building passive income. Particularly in Malaysia, where the economic landscape is rich and varied, dividends present an attractive avenue for investors to earn regular income without active involvement.  This article explores the nuances of generating passive income through dividends in Malaysia, providing a comprehensive guide for both novice and seasoned investors. We will delve into specific companies known for their lucrative dividend payouts, discuss strategic investment approaches, and offer insights into navigating the Malaysian dividend market effectively. Understanding Dividends  Dividends are portions of a company's earnings, distributed to shareholders  as a reward for their investment.  They are a key component of stock investment returns , particularly for those looking for regular income streams. Usually, companies in stable industries with consistent earnings often distribute dividends regularly. The Malaysian Dividend Stocks Landscape Malaysia's vibrant economy hosts a diverse range of companies known for attractive dividend yields. Key sectors include finance, utilities, telecommunications, and plantations . Notably, Malaysian dividends are often tax-exempt for individual investors, adding to their allure. Notable Dividend-Paying Companies in Malaysia 1.Malayan Banking Berhad (Maybank): As one of the largest banks in Southeast Asia, Maybank is known for its strong dividend track record. 2. Tenaga Nasional Berhad (TNB): Malaysia’s leading electricity utility company, TNB, has been a consistent performer in terms of dividend payouts. 3. Digi.Com Berhad: A major player in the telecommunications sector, Digi.Com offers impressive dividends, reflecting its robust financial health. 4. Nestlé Malaysia: Part of the global Nestlé group, Nestlé Malaysia is renowned for its stable dividends, backed by strong brand presence and consumer loyalty. For more examples of high-performing dividend stocks, here’s a list of the top 10 dividend stocks in Malaysia for 2023. How To Start Earning Dividends In Malaysia Step 1: Opening a Brokerage Account Opening a brokerage account is your first step towards investing in dividend stocks in Malaysia. With a range of reputable brokerage firms available, choosing the right one can significantly impact your investment journey.  Here are 5 things to consider when choosing the right brokerage  for your investments: Fee Structure Understand the fees charged for trades, account maintenance, and any other services. Lower fees mean more of your money goes towards investments. Investment Options Ensure the brokerage offers a wide range of investment products , including the stocks and funds that align with your dividend investing strategy. Platform Usability and Tools A user-friendly platform with robust tools  and resources can make your investment process more efficient, especially for beginners. Research and Educational Resources Good brokerages often provide r esearch reports, market analysis, and educational resources  to help you make informed decisions. Accessibility and Convenience Consider how easy it is to access your account and execute trades , whether online, via a mobile app, or in person. Some examples of brokerage firms in Malaysia include: Maybank Investment Bank Berhad CIMB Investment Bank Berhad Rakuten Trade Hong Leong Investment Bank Berhad Kenanga Investment Bank Berhad The right brokerage can make a significant difference in your investment experience and success. Take the time to compare and evaluate different brokerages based on these factors to find the best fit for your dividend investing journey in Malaysia. Step 2: Research and Investment Selection Once you have a brokerage account set up, the next critical step is to research and select the right investments for your dividend portfolio. This step is crucial in determining the success of your dividend income strategy.  There are some key factors to consider when deciding on a dividend stock, here’s 5 of them: Dividend Yield This is the percentage of a company’s share price that is paid out in dividends annually. A higher yield  can be attractive, but it’s important to balance yield with stability and growth potential. Payout Ratio This measures the proportion of earnings a company pays to shareholders  in dividends. A payout ratio that’s too high may not be sustainable, while too low a ratio could mean the company is not returning enough profits to shareholders. Financial Health Assess the company’s overall financial stability. Look at its debt levels, revenue growth, earnings consistency, and cash flow . Healthy finances suggest a sustainable dividend. Industry Stability Some industries are more stable and predictable , making their companies more reliable for consistent dividends. Utilities, consumer staples, and healthcare are typically considered stable sectors. Track Record A history of consistent and preferably rising dividend payments  is a good indicator of a company’s commitment to shareholder returns. Some tools and resources you can use for investment research include: Financial news sources  like Bloomberg, Reuters, and local financial news portals. Stock analysis platforms  like Bursa Malaysia’s market data portal. Corporate earnings reports  that give insights into a company’s financial performance and strategic direction. The process of researching and selecting dividend-paying stocks requires utilising the right tools and resources. Remember, successful dividend investing is not just about high yields; it’s about sustainable, reliable returns over time. Step 3: Portfolio Diversification After selecting your initial dividend-paying stocks, the next essential step is portfolio diversification. This process involves spreading your investments across various stocks, sectors, and possibly other asset classes, to minimize risk and optimize returns .  Here's how you can effectively diversify your dividend investment portfolio : Across Sectors and Industries Invest in companies from different sectors  like banking, utilities, consumer goods, and technology to avoid overexposure to one industry . Geographic Diversification Consider investing in dividend-paying stocks from different countries or regions  to hedge against country-specific economic downturns. Asset Class Diversification Besides stocks, consider other asset classes  like bonds, REITs (Real Estate Investment Trusts), or even dividend-focused ETFs (Exchange Traded Funds). Diversification is a key strategy in building a robust dividend-earning portfolio. This approach not only protects your investments but also positions you to capture growth from various angles , leading to a more stable and potentially profitable investment journey. Remember, diversification isn’t just about having a large number of stocks; it’s about having the right mix that aligns with your financial goals and risk tolerance. Strategies to Maximise Dividend Stock Returns in Malaysia Dividend Reinvestment Reinvesting dividends means using the dividend payouts to purchase more shares of the stock or other dividend-paying stocks instead of taking the cash. This strategy uses the power of compounding  to accelerate the growth of your investment portfolio. For example, suppose you receive dividends from a company like Petronas Chemicals Group Berhad. Instead of taking this as cash, you use the dividend to buy more shares of the same company,  increasing your stake and potential future dividends . Monitoring and Rebalancing It’s important to periodically assess your investment portfolio  to ensure it aligns with your financial goals and risk tolerance.  Economic conditions, company performance, and sector dynamics can change, necessitating adjustments in your portfolio. This involves adjusting the proportions of different investments in your portfolio .  For example, if one stock has grown significantly and now dominates your portfolio, you might sell some of it to reinvest in other areas to maintain a balanced risk profile . Strategic Stock Selection Beyond high dividend yields, look for stocks that have the  potential for capital appreciation  or growth dividend stocks. These are typically companies with solid growth prospects , even if their current dividend yield is moderate. To do this, focus on companies with a history of sustainable business practices , steady earnings growth , and a commitment to increasing dividends  over time. My Thoughts On Investing in Dividend Stocks In Malaysia Personally, I think earning passive income through dividends in Malaysia is an attainable goal with the right approach. The key to success lies in the strategic selection of stocks  from companies with a strong track record of dividend payments and financial stability.  Moreover, by practising the strategies discussed, not only does it maximize returns but it represents a disciplined approach to investment that can serve investors well in various market conditions. These strategies encourage a  focus on long-term growth and sustainability  rather than short-term gains, aligning well with the principles of sound financial planning. So, with the right approach and commitment to ongoing learning and adaptation, you can potentially enjoy a stable and growing income stream, contributing significantly to your financial security and independence. As with any investment venture, it requires diligence, patience, and a clear understanding of one's financial goals and risk tolerance. 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.

After more than a decade of trying to get a Bitcoin ETF approval, the US Securities and Exchange Commission (SEC) on 10 January 2024 finally approved 11 Bitcoin ETFs that track the price of Bitcoin. This is a game-changer for the cryptocurrency industry and investors celebrated this announcement in a rally that saw Bitcoin rising past $47,000 following the approval. But what does this mean if you’re a Malaysian investor? In this article, let’s explore the implications of this ground-breaking announcement and get a better understanding of how these ETFs will work. What Are ETFs? ETFs are pooled investments, like a mutual or unit trust fund, but trade on stock exchanges, like a stock or bond, and track a specific index, sector or asset class such as gold. Unlike traditional mutual funds, they can be bought and sold throughout the day. An example of a well-known ETF is the Vanguard S&P 500 ETF. How Will Spot Bitcoin ETFs Work? According to CBS, a spot Bitcoin ETF allows investors to gain direct exposure to Bitcoin without holding it. Unlike regular Bitcoin ETFs, in which Bitcoin futures contracts are the underlying asset, Bitcoins are the underlying asset of a spot Bitcoin ETF. Each spot Bitcoin ETF is managed by a firm that issues shares of its own Bitcoin holdings purchased through other holders or through an authorized cryptocurrency exchange. The shares are listed on a traditional stock exchange. Where To Buy Spot Bitcoin ETFs From Malaysia? The ETFs will be listed on Nasdaq, NYSE and the CBOE. So, for us Malaysians, as long as you have a trading account like M+ Global or Interactive Brokers that gives you access to trade on US exchanges, then you should be able to buy a spot Bitcoin ETF. Should You Buy Bitcoin Outright Or A Spot Bitcoin ETF? Well, it depends on your specific investment goals, risk tolerance, and preferences. If you value direct ownership, control, and potential for higher returns, buying Bitcoin outright may be suitable for you. On the other hand, if you prioritize convenience, regulation, and diversification, a spot Bitcoin ETF could be a more appealing option. This is because spot Bitcoin ETFs allow investors to gain exposure to the price of Bitcoin without the complications and risks of owning Bitcoin directly. Bitcoin ETF Approval: Implications for Malaysian Investors Indirect Exposure For those of you who have been wanting to get your hands on Bitcoin but may be a bit hesitant due to security or other reasons, you now have an indirect route to invest in Bitcoin through US-listed Bitcoin ETFs. By purchasing shares in these ETFs, you can gain exposure to the price movements of Bitcoin without having to navigate the complexities of cryptocurrency exchanges or wallet management. Diversification Opportunities Bitcoin spot ETFs also offer diversification opportunities for Malaysian investors. Rather than putting all your investment capital into a single asset class like stocks or bonds, you can include Bitcoin as part of your diversified investment portfolio. This can potentially help spread risk and enhance long-term returns. Price Impact As more investors gain easier access to Bitcoin through ETFs, there is potential for upward pressure on Bitcoin's price. Institutional investors, in particular, may view these regulated investment products as a safer way to enter the cryptocurrency space, potentially driving demand. So, for those of you who are already invested in Bitcoin, you may very well see huge returns on them – should you choose to sell! Final Thoughts: Bitcoin Spot ETFs Approval from US SEC The approval of 11 Bitcoin ETFs by the US SEC marks a significant milestone in the world of cryptocurrencies. While the immediate impact may be more pronounced for US investors, Malaysian investors can also benefit from these developments. They now have the opportunity to gain exposure to Bitcoin through regulated and easily accessible investment vehicles. However, it is essential for Malaysian investors to navigate the regulatory landscape carefully and consider the potential risks associated with these investments. As the cryptocurrency market continues to evolve, as an investor, you should stay informed and make well-informed decisions to capitalize on the opportunities presented by Bitcoin ETFs. 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.

2024 seems to be the year our government finally moves towards a targeted subsidy system instead of the overall blanket subsidy system it has been practising for years. Among those targeted subsidies is electricity. In this article, let’s find out everything you need to know about the latest electricity targeted subsidy in Malaysia. The Big Announcement On December 22, 2023, the Energy Commission announced a revision in electricity tariffs effective from January 1 to June 30, 2024. This change is due to the Imbalance Cost Pass-Through (ICPT) mechanism, part of the Incentive Based Regulation (IBR) framework. The ICPT allows TNB, the utility provider, to adjust electricity tariffs in response to fluctuating fuel and generation costs. These adjustments occur every six months and can result in either rebates or surcharges. What Does This Mean for Consumers? For domestic users consuming up to 600 kilowatts per hour (kWh), a 2 sen rebate per kWh remains in place. Those using between 600 kWh and 1,500 kWh will not face any surcharge, but users above 1,500 kWh will continue to be charged a surcharge of 10 sen per kWh. For instance, usage of 1,500 kWh would lead to an electricity bill of RM738.20. Non-domestic users in sectors like commercial, low voltage industrial, specific agriculture, water, and sewerage will see a continued surcharge of 3.70 sen/kWh. Other non-domestic categories will incur a surcharge of 17 sen/kWh. The Broader Impact Of The Electricity Targeted Subsidy in Malaysia This tariff adjustment means that about seven million domestic consumers in Peninsular Malaysia won't see changes in their electricity bills. The commission notes that roughly 99%, or 8.2 million domestic users, will continue to enjoy government subsidies. However, non-domestic users will continue to bear the surcharges. How Does ICPT Work? The ICPT charge applies to each kWh consumed, varying based on monthly electricity usage. It's calculated by multiplying the monthly consumption in kWh by the ICPT rate (sen/kWh), then added to or subtracted from your bill. What If You Have A Solar Panel At Home? Customers with solar systems, including Net Energy Metering (NEM) and Self-Consumption (SelCo), are not exempt from ICPT. The calculation for them is based on their imported consumption from the grid, especially during non-solar generating hours. What I Think Of The Electricity Targeted Subsidy In Malaysia Personally, I think the government's approach in revising electricity tariffs is a necessary step towards a more sustainable and economically viable energy sector. The tiered system for domestic users seems fair, as it encourages energy conservation among higher-income households (typically the T20), who are more likely to use energy-intensive appliances. However, I believe there should be more incentives for renewable energy adoption. While it's understandable that solar panel users are subject to ICPT, offering additional benefits or subsidies could accelerate the transition to greener energy sources. This approach would not only benefit the environment but also reduce the long-term energy costs for consumers. As consumers, we need to adapt to these changes proactively. This could mean becoming more energy-conscious, investing in energy-efficient appliances, or even considering renewable energy sources like solar panels. Our choices can significantly impact our electricity bills and the environment. For more information, visit the TNB website. 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 ever-evolving landscape of digital governance, Malaysia has taken a significant stride with the introduction of Pangkalan Data Utama (PADU), its new Central Database Hub. This initiative marks a critical phase in the country's digital transformation journey, focusing on enhancing data accuracy and policy decision-making. In this article, we will explore the intricacies of PADU, its operational mechanisms, the registration process, and the implications it holds for Malaysians. What is PADU? Pangkalan Data Utama (PADU) is Malaysia's latest step in digital transformation, addressing the need for comprehensive and accurate data in policymaking. Developed collaboratively by the Ministry of Economy, the Department of Statistics (DOSM), and the Malaysian Administrative Modernisation and Management Planning Unit, PADU consolidates data from over 400 government agencies. It aims to offer a detailed overview of national household income, thereby enhancing the accuracy of targeted subsidies and social protection programs​​​. How does PADU work? PADU functions by integrating data from various government sources to create a more accurate and detailed household income assessment. This system is crucial for fair subsidy distribution, allowing the government to tailor its programs based on household disposable income. PADU's advanced data analysis helps identify households eligible for subsidies, ensuring effective allocation and prevention of misuse​​​. Who is eligible to register for PADU? PADU registration is open to Malaysian citizens and permanent residents aged 18 and above. The process is voluntary, encouraging public participation for a more comprehensive database​​​. Is there a deadline to register for PADU? Yes, there is a registration window. PADU's registration period is from January 2 to March 31, 2024. This timeframe allows individuals to verify and update their socioeconomic information conveniently​​. Is it compulsory to register for PADU? Registration for PADU is not compulsory. However, existing government records might be outdated, which could affect your eligibility for future aid or subsidies. Economy Minister Rafizi Ramli emphasizes that the decision to update information on PADU is at the individual's discretion​. What will happen if I don’t register for PADU? If you choose not to register or update your details in PADU, your existing information will remain unchanged. However, outdated information might impact your eligibility for government aid or subsidies, such as the upcoming RON95 petrol subsidy program​​​. How to register for PADU? Registration for PADU involves a two-step process: Step 1: Provide basic personal information (full name, MyKad number, postcode, and mobile phone number) Step 2: Complete an Electronic Know Your Customer (eKYC) verification via a web browser. For rural residents without internet access, manual registration is available through government outreach teams, DOSM’s state offices, and Pusat Ekonomi Digital (PEDi) centres​​​. Should you register for PADU? With the recent news of some vulnerabilities in PADU’s system, I personally think that I’m going to give it some time before registering for it. And since the deadline is not until March, I think that’s more than sufficient time to let the system smooth out and let the hype die down a little. I will still be registering for it (and I recommend you do the same) not only because of the subsidies but also because I believe that this central database hub can pave the way for other digital advancements which will further enhance the future of policymaking in Malaysia. 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 real, saving money is boring and not the most gratifying thing out there. Yes, it’s a good habit to save money but it gets mundane. Every time you get your paycheck, you separate a percentage that goes into your savings – it’s robotic and almost feels like you’re paying a bill. But what if I told you that there’s a way you can spice things up? To make it a challenge! If you’ve been on personal-finance-TikTok for a while now, you’ve probably come across a few of these savings challenges. Well, in this article, I want to talk about the 100 Envelope Challenge and how you can save up to RM10,000 in just over three months! Let’s dive in. What is the 100 Envelope Challenge? The 100-envelope challenge is a way to gamify saving money. Each day for 100 days, you’ll fill each envelope with money corresponding to the number on the envelope. After just over 3 months, you could have up to RM10,000 saved. How to do the 100 Envelope Challenge? 1. Label 100 envelopes from 1 to 100. 2. Randomly select an envelope every day and do this until all envelopes are filled. The number on the envelope you choose is the amount of cash you should stick inside of it. For instance, you'd put RM3 inside envelope #3 and RM98 inside envelope #98. By the end of the challenge, you should have just over RM5,000. Now, you can make this even more exciting (and save more money) by multiplying the amount you save by 2x. For example, you’d put RM10 inside envelope #5 instead of RM5. So, whatever the number on the envelope, multiply by 2, then save that much in the envelope. By the end of it, you should have over RM10,000 in about 3 months! Benefits of the 100 Envelope Challenge Encourages Consistent Saving This challenge promotes the habit of saving money regularly, a fundamental aspect of financial wellness. Fun and Engaging The random selection of envelopes adds an element of surprise and fun to the saving process. Flexible and Adaptable You can adjust the challenge to suit your financial situation. For example, if 100 days is too short, spread it over 200 days, choosing an envelope every other day. Or, you can even halve the amount you put in the envelope if your finances call for it. Visual and Tangible Progress Physically putting money into envelopes provides a more tangible sense of progress compared to digital savings. 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.

With 2023 coming to an end, I’m sure most of us are coming up with our New Year’s Resolutions. Personally for me, one of those resolutions includes getting my finances in check! So if you’re like me, here are 7 financial resolutions for 2024 that you can do to win with money. #1 Create A Budget Usually at this point of the year, many of you might have received your annual bonuses or have a clear idea of your salary increment for the upcoming year. So, there’s no better time than now to start planning your budget for 2024. Here are 5 quick steps to create your budget: Step 1: Gather Financial Information Begin by collecting all your financial data. This includes your current salary, expected increment, bonuses, other income sources, monthly expenses, debts, and savings. Step 2: Use a Budget Planning Spreadsheet Tools like a budget planning spreadsheet are instrumental in organizing your finances. You can start by duplicating our provided template. This spreadsheet should have sections for income, fixed expenses (like rent or mortgage payments), variable expenses (like groceries and entertainment), debts, and savings. For a more detailed explanation of how to use this spreadsheet, you can check out this video we made. Step 3: Input Your Data Fill in the spreadsheet with your financial information. Be as detailed as possible when listing your expenses and income to ensure a clear picture of your financial situation. Step 4: Set Goals for Positive Cash Flow The primary objective of budgeting is to ensure positive cash flow – where your income exceeds your expenses. This enables you to manage debts effectively, save for emergencies, and still have funds available for personal enjoyment. Step 5: Regular Review and Adjustments A budget is not static. Regularly review and adjust it as your financial situation changes or as you meet certain financial goals. #2 Ensure Your Emergency Fund is Healthy Maintaining a healthy emergency fund is a cornerstone of sound financial planning. It serves as a financial safety net for unexpected expenses, offering peace of mind and financial security. The size of your emergency fund can vary based on your personal circumstances, including your monthly expenses, income stability, and lifestyle. A good starting point is RM1,000, which can cover minor unexpected costs. After that, you can gradually increase your emergency fund to cover 3-6 months’ worth of living expenses. This amount is generally recommended to provide adequate coverage in case of significant financial disruptions, like prolonged illness or unemployment. #3 Plan For Inflation The biggest concern for most Malaysians this year has been the rising cost of living. Everything is just becoming more and more expensive! This is why, for 2024, we need to start considering the impact of inflation on our finances especially since it can reduce the purchasing power of our money. Here are some ways you can hedge against inflation: 1. Choosing the Right Savings Accounts Opt for savings accounts that offer interest rates at or above the inflation rate. In Malaysia, a savings account should ideally offer at least 3% per annum to keep pace with inflation. This helps maintain the value of your savings over time. 2. Investing in Money Market Funds Money market funds like TNG Go+, StashAway Simple, or Versa Cash often offer returns greater than 3% p.a. These funds invest in short-term financial instruments and can be more resilient to inflation compared to traditional savings accounts. 3. Diversifying Investments Diversification is key in protecting your investments from inflation. Consider a mix of stocks, bonds, real estate, and other assets. Stocks, for instance, can offer returns that outpace inflation over the long term. #4 Pay Off Your Debts Paying off debts is a challenge that requires commitment, strategy, and sometimes lifestyle adjustments. While it may seem daunting, with a well-structured plan and determination, it's entirely possible to become debt-free. Personally, it took me two years to clear my debt and a lot of sacrifice from my family. My wife had to rejoin the workforce and as a family, we tightened our belts, making sure clearing our debt was the first priority. There are two main methods you can use to approach debt management – the Avalanche Debt Repayment Method and the Debt Snowball Method. You can find out more about these methods through this article. #5 Watch Out For Buy Now, Pay Later Apps (BNPL) With the rise of buy now, pay later (BNPL) apps like Atome, Grab PayLater, and SPayLater, getting your hands on a high-ticket item is easier than ever. And while these services offer the allure of immediate gratification without the upfront cost, they also come with financial implications that need careful consideration. So, for 2024, you’ll want to resist the temptation of BNPL and avoid picking up debt, even if it seems like a good deal because at the end of the day, you’ll be hurting your future finances. #6 Keep On Investing Whether you're already an investor or considering beginning next year, your investment journey is a vital component of a comprehensive financial strategy. If you’ve already been investing, perhaps 2024 can be the year you learn even more about it. However, if you’re only at the beginning of your journey, a good start is to educate yourself about the basics of investing. This includes understanding different asset classes, risk tolerance, investment horizons, and the concept of diversification. Here are some articles you can check out to learn more about investing. #7 Find Your “Why” Discovering your "Why" in financial planning is about understanding the deeper motivations and purposes behind your financial decisions. This introspective approach not only offers clarity but also guides your financial behavior towards more meaningful and sustainable choices. And that’s exactly what we want for 2024! Here’s how you can find your "Why" in various aspects of financial planning: 1. Saving Goals Ask yourself why you are saving money. Is it for retirement, a child’s education, a major purchase, or just for a sense of security? 2. Investment Choices Consider why you've chosen your current investments. Do they align with your risk tolerance, financial goals, and investment horizon? 3. Spending Patterns Reflect on your spending habits. Are they driven by needs, wants, or external pressures? 4. Debt Management Evaluate the reasons behind your debts. Are they a result of necessary expenses, lifestyle choices, or lack of planning? 5. Retirement Planning If you haven't started planning for retirement, identify the reasons. Is it due to a lack of resources, understanding, or prioritization? 6. Emergency Fund Level Assess whether your emergency fund is sufficient for unexpected situations. Is it enough to cover at least 3-6 months of expenses? 7. Insurance Coverage Review your current insurance policies. Do they provide adequate coverage for your life circumstances? 8. Financial Prioritization Analyze why you prioritize certain financial goals over others. Do these priorities reflect your long-term objectives and personal values? Why It’s Important To Plan Your Financial Resolutions For 2024 Planning your financial resolutions for not only 2024 but every year is important for several reasons, and it can have a profound impact on both your short-term and long-term financial health. A well-planned financial strategy helps in building a buffer against unexpected events like job loss, medical emergencies, or economic downturns. This is especially true since the economic landscape is constantly evolving. Inflation rates, market trends, and interest rates often change, impacting our purchasing power and investments. Consequently, planning your finances allows you to adapt to these changes proactively, ensuring your financial stability. And of course, financial stability can directly impact the quality of your life. By planning your finances, you can ensure that you have the means to enjoy your life now while also securing your future. 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 of 2023, Malaysia’s household debt is valued at RM1.48 trillion – an amount that is more than our federal government debts. That’s almost one in three Malaysians, according to the BNM Financial Capability and Inclusion Side survey (FCI 2021). So, if you have debt, you’re not alone and with the right strategies, it's possible to overcome it. In this article, we’re going to explore the three most effective methods to pay off your debts, helping you regain financial freedom. #1 Avalanche Debt Repayment Method The Avalanche Debt Repayment Method is a debt reduction method that involves paying off debts with the highest interest rates first while making minimum payments on the rest of the debts. The idea behind this method is to save money on interest charges in the long run and pay off your debts faster, provided that your current financial situation permits it. How you can do this: List all of your debts Start by making a list of all your debts, including the outstanding balance, interest rate, and minimum monthly payment. For example, Credit Card A: RM1,000 balance, 18% interest, RM50 minimum payment Personal Loan B: RM5,000 balance, 10% interest, RM100 minimum payment Car Loan C: RM10,000 balance, 4% interest, RM200 minimum payment Order debts by highest interest rate Once you have listed all your debts, order them by interest rate, from highest to lowest. This is the order in which you will prioritize paying them off. Using the same example, you would order it like this: Credit Card A: 18% interest Personal Loan B: 10% interest Car Loan C: 4% interest Make minimum payments on all debts While focusing on paying off your high-interest debt, make sure to continue making the minimum payments on all your debts to avoid late fees and negative marks on your credit report. Using the same example, you would still make the minimum payments like this: Credit Card A: RM50 Personal Loan B: RM100 Car Loan C: RM200 Pay extra towards your highest-interest debt Allocate as much extra money as possible towards your highest-interest debt. This strategy will allow you to pay off your high-interest debt faster, reducing the amount of interest you pay over time. It will look something like this: Credit Card A: RM50 + RM300 (extra payment) Personal Loan B: RM100 Car Loan C: RM200 Repeat the process Once you've paid off your highest-interest debt, move on to the next highest-interest debt and continue paying extra towards it while making minimum payments on the others. Repeat this process until all of your debts are paid off. #2 Debt Snowball Method Although the Avalanche Debt Repayment Method is a smart approach to paying off debt, it may not be suitable for everyone, as individual financial situations vary. If you find it difficult to make minimum payments on all your debts, an alternative strategy called the Debt Snowball Method might be more helpful. The Debt Snowball Method involves paying off debts in a specific order, starting with the smallest balance first. This can provide a sense of accomplishment and motivation as you see your smaller debts disappearing one by one in a systematic approach. However, one thing to note is that the Debt Snowball Method may not be the most cost-effective strategy in terms of overall interest paid, as you may end up paying more in interest than if you paid off debts with higher interest rates first. How you can do this: List all of your debts Make a comprehensive list of all your debts, including credit cards, loans, and other outstanding balances. Note down the total amount owed, the minimum monthly payment, and the interest rate for each debt. For example, Credit Card A: RM1,000 balance, 18% interest, RM50 minimum payment Personal Loan B: RM5,000 balance, 10% interest, RM100 minimum payment Car Loan C: RM10,000 balance, 4% interest, RM200 minimum payment Order debts by smallest balance Arrange your debts in ascending order based on their outstanding balances, from smallest to largest. Ignore the interest rates for now. Using the same example, you’ll want to arrange it like this: Credit Card A: RM1,000 Personal Loan B: RM5,000 Car Loan C: RM10,000 Make minimum payments on all debts Ensure all the minimum payments of your debts each month listed are covered. If you can't, try to adjust your budget by cutting back on expenses, increasing your income, or both. Using the same example, you should be making minimum payments for these: Credit Card A: RM50 Personal Loan B: RM100 Car Loan C: RM200 Focus on the smallest balance If you have extra money after making the minimum payments on all debts, put the extra towards the debt with the smallest balance. Focus your efforts on paying off this smallest debt as quickly as possible. For example, if you have extra money of RM950, you’ll want to allocate it towards the debt with the smallest balance while still making minimum payments on all other debts. It will look like this: Credit Card A: RM50 + RM950 Personal Loan B: RM100 Car Loan C: RM200 Snowball the payments Once the smallest debt is fully paid off, take the money that was previously allocated to it (the minimum payment plus the extra money) and "snowball" it onto the next smallest debt on your list. This means you'll now be paying more than the minimum payment on the second smallest debt. Repeat this process for each subsequent debt, rolling over the payments from the previous debts onto the next ones. So, as you pay off each debt, the amount you can allocate towards the next debt will grow. This creates a snowball effect, where the repayment power increases with each debt you eliminate. Overtime, your debt repayment should look like this: Credit Card A: RM0 Personal Loan B: RM100 + RM50 (previous minimum payment) + RM950 (assuming you have extra) Car Loan C: RM200 #3 Debt Consolidation Loan If you are juggling multiple debt payments with varying interest rates and due dates, a debt consolidation loan might just be the most practical option for you. This method involves taking out a new loan to pay off various debts and consolidating them into a single loan with a potentially lower interest rate. So, with only one loan to manage, it becomes easier to keep track of your debt. This simplification can reduce the likelihood of missed payments, which are crucial for maintaining a good credit score. Most of the time, these loans will also have a fixed repayment period so you know you won’t be burdened with endless compounding interest over time. To be eligible, applicants typically need to have a stable income and a good credit history. Some banks may also have minimum and maximum loan amount requirements. Additionally, the application process involves submitting financial documents like pay slips, employment details, and information about your existing debts. 3 Tips To Pay Off Your Debt Tip 1: Pay them off ASAP if you can Although the three methods above would help significantly in paying off your debts over a period of time, if you can afford it, it is good to pay off these debts all at once. Tip 2: Pay extra attention to your credit card debt Credit card interest rates in Malaysia can be very high, often exceeding 15-18% p.a. This is why it is crucial to pay off credit card balances in full and on time to avoid incurring high interest charges. If you cannot afford to pay off the full balance, try to pay more than the minimum amount to reduce the interest charged. Sometimes, the credit card provider or bank may offer to convert your credit card debt into a fixed-term personal loan, which lowers your interest rate. You can consider this. Tip 3: Take the fees into consideration Although the interest rates for personal loans are much lower compared to credit cards, do note that these interest rates are relatively higher compared to mortgage and hire purchase loans. Additionally, beware of the fees when applying for a personal loan. These fees include processing fees, late charges fee or penalty fees, which can add up to your cost of borrowing. 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 wait is finally  over!  Malaysia’s first digital bank, GXBank  by Grab, is now available  to the public. It’s such a big deal that in less than two weeks, it has managed to rack up over 100,000 users . But is the hype a fab or simply a fad? And should you make the switch over? Well, here’s my first impression and review of GXBank Malaysia. Getting To Know GXBank by Grab GXBank  is Malaysia’s first digital bank  and among the five successful digital bank licence applicants approved  by Bank Negara Malaysia (BNM). It is a subsidiary  of Singapore’s GXS Bank – a joint venture between Grab and Singtel, along with a consortium of other Malaysian investors, including the Kuok Group. As a licensed bank by BNM and a member of Perbadanan Insurans Deposit Malayisa (PIDM), deposits up to RM250,000 are protected by PIDM per user. Prior to their launch, a beta test was conducted in September this year, where 20,000 early users provided feedback to improve the platform including creating ‘Pockets’ – the app’s savings goal feature. What Sets GXBank Apart From Traditional Banks (Maybank, CIMB, RHB, etc)? Well, some of its unique features  include: #1 Being fully digital Kind of a no-brainer, this digital  bank exists fully on their app . Other than their main office, GXBank will not have any physical bank branches nor ATMs .  Now, this may raise some concerns. How will users withdraw physical cash? What if you’re facing issues with your account and there are no counter/bank branches you can visit?  Let’s address the issue of withdrawing physical cash first. According to GXBank chief executive , they will be introducing a debit card  sometime in January 2024 where users will be able to use every ATM  connected to the MEPS shared ATM network to withdraw money from. Best part is, GXBank said  they will  waive the RM1 surcharge  you’ll get when you use other bank’s ATMs. Now for the issue of having no physical counters/banks, if users are faced with a problem regarding their account, they can simply reach out to GXBank, 24/7 through online means. The banking platform has set up an in-app live chat, customer service hotline, and support email to ease user-provider communications. So, everything from opening an account to any transactions will all be fully digital.  #2 Savings Account with 2% p.a. daily interest This is definitely one of their most attractive features – a savings account that accrues daily interest of 2% p.a.  with a pretty low deposit. Think Touch n’ Go GO+ account,  it works the same way. GXBank will deposit the daily interest into users’ accounts if it’s at least RM0.01. With that in mind, the minimum  you’ll need to start earning its daily interest is RM60.84 . In comparison to traditional banks, most will require you to have a relatively high available balance to earn any sort of interest. Even then, the interest rate is quite low at < 2.5% p.a. Its savings account will also have no minimum balance and lock-in periods  required. #3 ‘Pockets’ feature to encourage savings As suggested by their beta testers, GXBank has a ‘Pockets’ feature that encourages goal-intended savings . And just like its savings account, users will be able to enjoy the same 2% p.a daily interest. So, whether you want to start an emergency fund or a vacation sinking fund, you can do it with ‘Pockets’. Currently, MAE by Maybank also has a savings feature – ‘Tabung’ but what sets GXBank’s ‘Pockets’ apart is the potential to earn daily interest.  #4 GXBank debit card with unlimited 1% cashback As previously mentioned, GXBank is planning to introduce a debit card  in January 2024. Just like any other debit card, you can use it to spend and withdraw money. However, what makes GXBank’s soon-to-launch debit card so cool is that users will be able to earn unlimited 1% cashback every time they pay for something.  Technically, this means you could potentially untung  4% in interest/savings simply by using GXBank (if you were to get the debit card). #5 Zero fees! Whether it is ATM withdrawals, intrabank funds/DuitNow transfers or even foreign currency exchange transfers, GXBank will not be charging any fees. Say goodbye to hidden chargers and sneaky fees! #6 Seamless GXBank-Grab ecosystem These days, living within the same ecosystem makes everything more convenient and seamless. Think about it: if you’re a die-hard Apple user, the likelihood is that you’ll want (or maybe already have) more than one Apple device. You can just AirDrop files or get Siri to do things for you! With GXBank and Grab, it’s the same thing – you’ll be living within one ecosystem . So, if you’re a heavy Grab user, switching over to GXBank may just make everything so much smoother! Of course, the most obvious perk would be earning more GrabReward points . BTW, if you were to open a GXBank account now, you’ll get to enjoy some awesome deals including:  RM20 cashback  when you deposit RM100 or more. RM8 instant cashback  when you link your DuitNow to GXBank. Up to 6x GrabUnlimited subscriptions  worth RM29.40 (RM4.90/month x 6). My Review of GXBank Malaysia GXBank: Account opening I’ve read some articles of people saying it takes them longer  than the advertised 4 minutes to open an account but for me, it really  only took more or less 4 minutes to do it.  It was  super fast  and the process was already one I was familiar  with – the standard finance/investment app account opening including eKYC, personal details, OTP, contact information, employment details, tax residency, as well as declarations and agreement. GXBank: Account funding Since it’s a digital bank, I can’t go to any counters to bank in my initial deposit. Then that leaves me with either transferring funds from my existing (traditional) bank account  or making my GXBank account the bank account for my salary to come into. I opted for the first option. Also, I wouldn’t advise any of you to make your GXBank account your “salary account” cause it’s still too premature for that (explained more later). Anyway, I deposited RM100 into my GXBank account to get the RM20 cashback (which I got instantly ). This process follows the standard FPX payment . GXBank: Account functionality At the time of this article, there are only three features available  – Add Money, Send Money and Saving Pockets. I can also get Insights like Fund Received, Funds Spent and Interest Earned. Honestly, for now, I’m not impressed . I can’t pay for anything cause there’s no DuitNow QR code feature. So, I can’t scan or even show my QR code. I suppose the point is to use my Grab app’s QR code but even then, I have a problem with it and this leads me to my next point. GXBank: Not very “seamless” GXBank-Grab ecosystem One of the reasons I opened a GXBank account this early on is because I thought I’d be able to benefit from the GXBank-Grab ecosystem. Alas, that wasn’t the case. I’ve already linked my GXBank account to my Grab account but for some reason, I can’t figure out how to fund my GrabPay Wallet using GXBank.   Not sure if it’s just a glitch on my end but there’s no option to fund my GrabPay Wallet using GXBank. I’m still using my existing and previously linked bank accounts to fund my Wallet. Perhaps, you guys can let me know if it’s the same for you? Reach out to me on Instagram , I would love to hear from you. GXBank: App design Just like the Grab app, the GXBank app  design is very clean and straightforward . Everything is just a touch away and the UI/UX is super intuitive .  If you’re already familiar with other financial/investment apps like MAE or M+ Global , you’ll have no problem adapting to the GXBank app.  Should You Make The Switch To GXBank? Personally, I think it’s still too premature for that. GXBank is still in its infancy so they’re still in their early days.  The only incentive to switch over now is the deals you get and the accruement of daily interest – even then, Touch n’ Go GO+ is offering higher interest at 3.56% p.a.   Perhaps when more features come out and their debit card is rolled out, then you can consider opening an account. Either way, I’m already on it and I don’t regret it lah.  I’m excited to see how GXBank and the overall digital banking industry will evolve in the future. Maybe there will come a time when we’ll be able to apply for car/house/personal loans, credit cards or even insurance through these revolutionary apps. 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 2023 draws to a close, the window to enjoy tax relief for YA2023 is narrowing. For those of us paying our yearly taxes, we have just about a month to take advantage of various exemptions available under this year's assessment before our tax filing in 2024. So what are some of the “last-minute” purchases we can make now? Here’s a list of the 18 income tax reliefs you can still claim for 2023 in Malaysia. Individual Spouse: RM4,000 Disabled Person: RM6,000 Study Fees: RM7,000* Children Unmarried child under 18: RM2,000 Unmarried child over 18 Registered childcare/kindergarten fees: RM3,000 Disable child: RM6,000 Lifestyle: RM2,500* Purchase or subscription of books, journals, magazines, newspaper and other similar publications (in the form of hardcopy or electronic) for the purpose of enhancing knowledge Purchase of personal computer, smartphone or tablet Purchase of sports equipment and gym memberships: RM500* Internet subscription Medical: RM10,000* Self, spouse or child suffering from a serious disease Expenses incurred on fertility treatment Vaccination: RM1,000* Intervention program for learning-disabled child below 18 years old: RM4,000* Breastfeeding equipment: RM1,000* (once in every 2 YAs) Supporting equipment (if a disabled person): RM6,000* Contributions Employee’s contribution to SOCSO and Employment Insurance System: RM350* Life insurance and EPF: RM7,000* Private Retirement Scheme (PRS) and medical and education insurance: RM3,000* Deposit for a child into the Skim Simpanan Pendidikan Nasional (SSPN) account: RM8,000* Others Electric vehicle charging facilities: RM2,500* *Maximum relief Tips for Income Tax Filing and Relief for 2023 in Malaysia Now that you know all the things you can claim for income tax relief, here are some tips you can keep in mind when you’re filing your income tax next year for YA 2023 in Malaysia. #1 Make your purchases before 31 December 2023 Usually, at this time of the year, most of us will be scurrying to make last-minute purchases to be eligible for tax relief in YA2023. So if you’re one of them, please remember to do it before 31 December 2023! For example, if you’re planning to buy a new phone and you delay the purchase until January 2024, you will lose out on the claimable lifestyle relief for 2023 and only claim it inYA2024, which is in 2025. #2 Keep your receipts and invoices To make your tax filing smoother and just for documentation purposes, keep your receipts and invoices. You can print them out (if they’re e-invoices or e-receipts) and store them in a folder or you can just do this digitally. #3 Be honest with your claims It’s best not to overclaim or “max out” your tax relief if you didn’t actually make any purchases or contributions. Just be honest with your claims and make sure they’re backed by receipts/invoices because you’ll definitely not want to face the penalty by LHDN should they find out. 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.

Interactive Brokers? Too complicated. Rakuten? Too limited. So, what can you use to trade US stocks? Let me introduce you to the newest kid on the block, M+ Global. A Comprehensive M+ Global Review (Mplus Global) Malaysia What is M+ Global (Mplus Global)? M+ Global is a global trading platform based in Malaysia with access to markets in the United States and Hong Kong. You’ll get to invest in stocks, warrants, ETFs, IPOs, bonds and many more with just a touch of a button. Started by Malacca Securities Sdn. Bhd., they have had 60 years of experience in our local investment landscape. They are also listed as a participating organisation under Bursa Malaysia as well as licensed by the Securities Commission Malaysia since 1963. So, you can say that they go way back (and are very trustworthy). Fees Account Opening Fee: RM11 Trading Fee: US$3/trade or 0.10% of trade value (whichever is higher). For reference, check the table below. Types of Accounts Malaysia Market 1. Cash Account When an investor opens a M+ Global Cash Account, they’ll be automatically opening a direct Central Depository System (CDS) account. This means the investor will own the stocks, and have access to corporate actions (such as dividend payments, rights issues, or bonus share distributions) and when the investor sells stocks, the funds will be directly deposited into their account. 2. Islamic Cash Account The Islamic Cash Account allows investors to engage in compliant investments according to Islamic principles. The account is established based on Islamic financial principles, avoiding interest-based transactions and investments related to non-Islamic businesses. 3. Collateralised Account In other words, M+ Global offers the option of opening a margin account through their Collateralised Account. Through this account, investors will be able to borrow money from the broker (in this case, Malacca Securities) to buy securities. Essentially, you deposit some money and the broker lends you the rest. However, do note that although margin trading has the potential to amplify gains, it also has the potential to amplify losses. So, do be wary of this if you choose to trade on margin. The investor will only need to pay for the purchase of those securities two working days after the transaction date (T+2). US & HK Market 1. Share Financing Margin Account Similar to the Collateralised Account for the MY market, when you open a share financing margin account, you'll be borrowing funds from Malacca Securities to buy US and HK securities. It's worth noting that, a margin account may bear interest and has no settlement deadline until a Margin Call is received. If the account's risk level reaches a certain threshold, the broker has the right to liquidate the securities in the account. Account Opening (Existing User from M+ Online) If you already have an account with M+ Online, you can now link it to your new M+ Global account for free. Here's how you do it in just 6 simple steps: 1. Click on the registration page. 2. Log in to the M+ Global application. 3. Select the account type. 4. Declare your tax residency. 5. Read and agree to the account opening agreement and relevant disclosures. 6. Provide an electronic signature. All that is left is to wait for your account approval before you can trade the world. How To Open A M+ Global Account: A Step-By-Step Guide (New User) I opened an account the other day and it literally only took 5 minutes! It’s so, so quick and easy to open. Follow these next few steps and you’ll be on your way to trading all the US stocks you want. 1. Fill in your Contact Information Click here and start filling out your contact information like your phone number, email address, and username. Make sure to use our invitation code: T30E. 2. Choose your preferred Market and Account Type If you’re new to investing, you can select Cash Account under the MY Market. Check that you also select the US Market and HK Market so that you’re able to trade in those markets. And if you'd like, you can also turn on the Share Margin Financing Account for the US and HK markets. 3. Proceed to Identity Verification Fill in your full name (as per NRIC), and MyKad number and proceed to their eKYC (snap pictures of the front and back of your IC as well as record a 2-4 seconds video selfie). Their verification will take less than 30 seconds to complete so it’s quite instantaneous. 4. Fill in your Personal Details Provide all details requested for this section such as your full name, gender, race, address, and marital status. 5. Provide your Employment and Spouse Details Similar to the previous section, fill in the details of your employment and if you have a spouse, fill in their details as well. 6. Verify your Financial Profile For this section, you’ll want to provide details on your preferred banking account that will be linked to your M+ Global account. Keep in mind that you’ll also have to provide proof of your bank statement which can easily be obtained through your email. Simply screenshot your bank statement and upload it in the requested section. 7. Determine your Investment Risk Profile In this section, you’ll be required to take a basic risk assessment. This is just to better understand what kind of investor you are, the investment goals you have in mind and the investing timeframe. This will not affect the choice of securities and markets that are made available to you. 8. Fill in your Tax Residency Typical to all trading platforms, you’ll need to provide your tax residency as well as your Tax Identification Number (TIN) for this section. 9. Declarations & Agreements and Disclosures Check all the boxes that apply to these two sections. 10. Confirm your registration Simply provide your digital signature and make the RM11 account opening fee to confirm your registration. Finally, wait 1-3 working days for your evaluation to process. And that’s it! 10 steps, 5 minutes, KAOTIM! Pros and Cons of M+ Global Competition may be tough for M+ Global with other more well-known brokerages out there like Interactive Brokers and Rakuten but I can confidently say that this new kid on the block has what it takes to take on all of them. So, here are some of the pros and cons of using M+ Global. Pros 1. Trade using MYR As M+ Global is based in Malaysia (and in some ways, made for Malaysians), you’re able to trade US and Hong Kong stocks with MYR. In under 3 minutes, you can fund your account in our local currency using FPX. So, there's no need to go through the hassle of opening an overseas account, funding it, linking it to the brokerage and undertaking all of those frills. 2. Over 200 licensed dealer representatives Facing trouble while using the platform? Just reach out to their customer support team! They’re available 24 hours a day to assist you in any way. In comparison, all this while as a Malaysian we've only had the option of using overseas brokerage so getting assistance is quite difficult, especially if we take into account the timezone difference. However, with M+ Global, since it's locally based, help is readily available whenever you need it. 3. Real-time access to the market Get real-time access to NASDAQ, NYSE and HKEX prices and data. This way, you’ll get to observe the changing market conditions and decide if you’d like to trade instantly on the security. 4. Offers Shariah-compliant filtered stocks M+ Global has partnered with IdealRating Inc, to offer a comprehensive list of Shariah-compliant investments for our Muslim friends. Simply click on the button that says “Shariah” and you’ll get to see all the US and HK securities which are compliant. For your information, IdealRatings Inc. has a global presence, serving clients like JP Morgan and Bloomberg. 5. User-friendly and comprehensive The entire account opening process can be done digitally in less than 5 minutes. Their app is also very intuitive, clean and simple to use. At the same time, they offer various tools like a watchlist, news and quote marketplace. Cons 1. Unable to buy fractional shares If you’ve used Interactive Brokers (IBKR), you’ll know of their feature to buy fractional shares. Fractional shares allow investors to own a portion of a share, enabling more accessible and affordable investment opportunities. Unfortunately, M+ Global doesn’t have this feature… yet. However, the platform has plans to offer US fractional shares in the near future. Looks like we’ve just gotta stay tuned for it then. 2. Limited market access At the time of writing, M+ Global only offers access to the US and Hong Kong markets. Other markets like Europe, Canada, and the Asia Pacific are still not available; so hopefully it’ll be added on soon. 3. It’s still new M+ Global just launched this year so it’s still too new to tell or have a proper user review. There are also several features that haven’t been made available like fractional shares (as mentioned previously), Hong Kong IPOs and option trading. So at least that’s something to look forward to. Our Verdict I’ve played around with their app for a few days and have deposited a fair amount of funds in the app. Honestly, I have to say, the platform is very intuitive and easy to understand. I can get information like the market overview, sector and top stocks performance, specifically diving into each stock's financial analysis easily without having to Google search for anything. The best part is that I can create a watchlist of all the stocks I want to keep an eye on, label them according to their sector, for example, and then track them to the indices I prefer. I also get to receive the latest market news as well as curated news based on my watchlist. Free Palantir Stock For First RM2,000 Deposit Currently, M+ Global also has an offer to receive 1x Palantir stock if you deposit RM2,000 into their account. Conclusion Overall, if you’re new to investing, I highly recommend M+ Global because their platform is genuinely so easy to use and you don’t have to worry about converting your money or any of that. I hope this M+ Global Review helps especially if you're based in Malaysia. Again, click here to sign up for M+ Global and don’t forget to use our invitation code: T30E. Disclaimer This is not an 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.