KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
Money usually comes with two elements; income and expenses. Income and expenses are different but at the same time similar. Some might wonder why the element can be different but at the same time similar. Previous posts stressed on the way to increase the income. But what is the purpose of increasing the income when we cannot control our expenses? It comes to nothing, right? If we made 2k, and we used up 1.8k, we still have 200 left. The 200 left can be used to increase the income if use to invest properly and accordingly. But if we made 100k, but we used up 100k, we have nothing left. And if we made 3k, but we used up more than 3k, we not only have nothing left and we owe others money. So it does not matter whether a person is earning 1k, 2k, 10k, 100k, etc. The person must have wisdom in spending his or her money. Else even if he or she is earning 100k per month, the money will end up fast. Where as if he or she has the wisdom on spending money, even with lower income, he or she will end up getting more in the future as the money that was invested previously will continue to generate income. The moral of the story is to use within our means and spend wisely. So, it does not matter whether we are getting high income or low income. Our expenses can be used as an alternative to income. The less we spend on unnecessary, the more we will have to invest, which resulting to more income.
I think most of us know the importance of saving money. The more appropriate question would be the steps required to take. I like it the way you put it about alternative. While many of us could not earn the 5 figure salaries, it is possible for us to increase our income if we made a habit of savings our priority. I would love to know more about the practical steps.
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