MONEY MASTER

As we all know, food is very important part in our budgeting. We cannot be too stingy on our food, allocating too few, we might end up starving end of the month while over allocation and we might ended up gaining few pounds end of the month - which is not something that we wanted. Anyway, we need to make sure we have sufficient allocation on food, and while for some of us who are renting room near to our working area and do not have the luxury to make our own food, there are some who are able to do so - which is good, as you can spend time doing something useful and at the same time reducing the food cost and finally bring down the monthly food allocation which can in turn make the savings or investment allocation higher. For the next few blog post, I will try to post the details of few of the ways to cut the food bills. The following are the brief summary of how you can cut the food bills whenever you are thinking to save for annual vacation, or just trying to cut the amount y...

IN recent years, the level of household debt among Malaysians has been a matter of growing concern, as the statistics show that the average person is way over his head in debt. Based on Bank Negara figures, the typical household borrowing is a shocking 140% of disposable income. That's something to think about, as it means that at least half of Malaysians are struggling desperately with their finances. So, they probably have very little idea of how they can become financially free, let alone wealthy. Incredible, isn't it? Most people we know would like to be free of financial worries and to enjoy a high standard of living, but so few seem to get it right. The journey towards financial success begins by first knowing where you are. Strangely, many people in the middle class find it difficult to answer this question: are you middle class, financially free or rich? In my latest book, Set Yourself Free: How To Optimise Money and Become Wealthy With Minimum Effort and Risk, I have t...

A very interesting article that I read last weekend regarding gold and the monetary system. It's quite long winded, but very informative and I think it's appropriate to share it here since we have been monitoring the gold price for quite some time already. It gives us the insight of gold and how gold are ties to the money value, even how often countries stray away from Gold Standard and then coming back to it, and then moving away from Gold Standard again and back and forth. The writer gives advice that if we do really want to hold physical gold, we should not do it in a rush, gold bug or not. The article is as follow:- KEYNES called it a “barbaric relic” in 1924. Scarce, attractive, malleable and immune to corrosion – gold used to be ideal money before the advent of modern paper money. Today, just like diamonds, gold is also a girl’s best friend. In Asia, it is the masses’ darling. Most Asians are showered with gold when they are born; gold is figuratively given away duri...