KUALA LUMPUR, Oct 16 (Bernama) -- Bursa Malaysia closed lower on Friday as buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks as well as real estate investment trusts (REITs). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points, or 0.98 per cent, to 1,607.76 from Thursday’s close of 1,623.70. The benchmark index, which opened 1.13 points higher at 1,624.83, moved between 1,602.98 and 1,626.34 throughout the session. On the broader market, gainers outnumbered decliners 597 to 470, while 518 counters were unchanged, 1,258 untraded and 33 suspended. Turnover rose 3.13 billion units worth RM3.27 billion from 3.06 billion units worth RM3.03 billion on Thursday.
Previously on Universal Rule of Personal Financial Management:-
#1 - Spend Less Than You Earn
#2 - Earn More
#3 - Never Depend On Single Income
The rule of personal financial management #4 is more on the mistake that most people made when deciding on the insurance premium that suit them, and most of the time people either over-insure themselves or pay an excessive premium for insurance because they do not know how to optimize their money. For example, consider two insurance products for a person at age 35: term insurance for RM500,000 will cost RM1,625 per annum, whereas a whole life policy will cost RM14,225 per annum.
We have to understand that the idea of getting insurance cover to protect our loved ones from financial hardship in case of an untoward event; which is the reason why we should go for the lowest possible premium and then investing the difference between the two premiums to optimize our money.
Many have chosen the wrong premium mainly due to greed, as well as lack of knowledge in the insurance product that they were about to purchase. While the objective is clear which is to protect the loved ones from financial hardship in case of something bad happen, but many will treat insurance as part of the investment.
Overall, insurance cover is needed to protect our loved ones from financial hardship, should something bad happen to us. Having said so, one should truly understand the policy before signing up for the policy and most importantly not to over insured or paying too much in insurance premiums because eventually insurance will just serve as a type of protection.
#1 - Spend Less Than You Earn
#2 - Earn More
#3 - Never Depend On Single Income
The rule of personal financial management #4 is more on the mistake that most people made when deciding on the insurance premium that suit them, and most of the time people either over-insure themselves or pay an excessive premium for insurance because they do not know how to optimize their money. For example, consider two insurance products for a person at age 35: term insurance for RM500,000 will cost RM1,625 per annum, whereas a whole life policy will cost RM14,225 per annum.
We have to understand that the idea of getting insurance cover to protect our loved ones from financial hardship in case of an untoward event; which is the reason why we should go for the lowest possible premium and then investing the difference between the two premiums to optimize our money.
Many have chosen the wrong premium mainly due to greed, as well as lack of knowledge in the insurance product that they were about to purchase. While the objective is clear which is to protect the loved ones from financial hardship in case of something bad happen, but many will treat insurance as part of the investment.
Overall, insurance cover is needed to protect our loved ones from financial hardship, should something bad happen to us. Having said so, one should truly understand the policy before signing up for the policy and most importantly not to over insured or paying too much in insurance premiums because eventually insurance will just serve as a type of protection.
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