Monday, May 18, 2015

Why You Should Start Paying Your PTPTN Study Loan


For those PTPTN borrowers who had graduated and started earning an income, and still have not started paying your PTPTN study loan, I shared below the reasons which prompted me to start paying my PTPTN study loan:

1) No Free Money
I always believe there is no free lunch and no free money. We need to pay back based on what we had agreed in the offer letter. PTPTN is still very kind to offer scholarship for those with excellent result. Last year, PTPTN also offered up to 20% discount for those borrower who wish to make full settlement for their study loan. If you still wish for free money, then try you best to obtain a Bachelor Degree with First Class Honour. Else, we still need to pay back our PTPTN study loan.

2) Prove That You Are Someone with Responsibility 
Most PTPTN borrowers are tertiary students from IPTA and IPTS. Prove that we are graduates with high responsibility.

3) To Ensure Continuation of PTPTN 
Think about the financial support for our younger siblings or our children. If most PTPTN borrowers did not pay back their study loan, where will our future generations get their financial assistance to support their tertiary education?

4) To Avoid Hassle In Future
With the offer letter we signed, PTPTN has the right to take action when PTPTN did not received the payment as per scheduled in the offer letter. Since last year, PTPTN has started to 'black list' borrowers who refused to pay back their study loan. As for me, I wish to have a peace of mind and not to be troubled with study loan matter. Thus, I choose to pay my PTPTN study loan.

I hope what I share above is convincing enough for you to start your PTPTN study loan repayment journey.

photo credit: Loan via photopin (license)

Saturday, May 16, 2015

A Change Of Lifestyle

A few days ago, I read this article from The Malaysian Insider. I feel envy of this young couple for daring to take the big challenge and big change of their lifestyle - from corporate executive to organic farming.

I strongly believe this is not as easy decision to make, especially at such a young age, 27 years old. Most youngsters at this age still in their 'partying phase'. But, I really support them for this decision and hope that their organic farm will be well know soon.

I myself come from farming background. My father own a huge orange orchard, where my siblings and me spent most of our childhood. And till now, I still take leave from my work and spend my days with my parents at their orchard. Every time when I go to visit my parents' orchard, I would feel very happy and looking forward for the trip. Till today I still feel amazed to see vegetables and plants growing from the soil. 

So, I can understand when I read that the young couples really looking forward to start their days at their organic farm. Seem like life become more purposeful for them.

Are you willing to make such a drastic change to your lifestyle?

Monday, April 27, 2015

Forth Week After GST Implementation

Two weeks ago, I went to a bakery to look for sweet potatoes bread. Few months back, I remember the price was RM5.50/loaf. I was surprised to see the new price tag RM6.80/loaf (inclusive of GST). No wonder, there's quite a lot of sweet potatoes bread left... I decided not to buy the sweet potatoes bread too. Not because I can't afford it but I strongly disagree with the way some businessman running their business. 

Last weekend, hubby and me went to one of the local kopitiam for kolo mee and tea-c. The kolo mee still the same price, RM3.00/bowl. The kolo mee operator complained that she absorbed some of the additional cost such as soy sauce and raw kolo mee. I think if she increase the price by RM0.20, as a consumer, I still can accept it. For the tea-c, hubby and me were surprised that the price had gone up to RM1.50/small cup from the RM1.20/small cup. An increment of 25%!

Today's lunch, I went to one of the local restaurant which I used to go at least once a month. From the menu, I saw that the food's price all increased by RM0.50/plate. On top of that, this restaurant still charge 6% GST! No wonder I saw there's so much less customers compare to before... I am planning to reduce my visit to this restaurant... Again, not because I can't afford it, but because I believe, as a consumer we need to be smart. 

I have more to share but let's save it for my next post...

Thursday, April 23, 2015

KWSP@EPF Full Withdrawal Stays At 55

This week, the hot topics for many Malaysian is on the 'Enhancement Initiatives of EPF Scheme'. Among the initiatives is to raise the full withdrawal to 60 from the current 55. From 21 Apr till 5 May 2015, KWSP@EPF is inviting its member to contribute their opinion through the online survey by logging in to i-Akaun. Since I am an i-Akaun user, so, last night I took some time to log-in, to further understand the enhancement scheme. 

Among the questions asked is whether the member agree or disagree to raise the current full withdrawal age to 60 years old. Of course I disagree because I think at 60, I will be too old to enjoy my retirement fund. Other than this, KWSP@EPF also shared a few options to maximize its members' retirement fund. The survey consist of a few sections with clear explanation and example on some of the questions asked. I spent about 30mins to complete the survey. I find that it is important to further understand the meaning of the question ask by clicking on the explanation and examples provided. Because, a sentence might not be able to give a clear picture of the actual meaning of that question. At the end of the survey, member is given an opportunity to leave a comment.

Overall, I would say KWSP@EPF had done a great job in creating the online survey to gather feedback from its member. And as at today, more than 50K member had responded to the online survey.

Based on the survey, today, Prime Minister had also announced that KWSP@EPF full withdrawal stays at 55. You can read the article here.

I would still strongly encourage you to participate in the survey. 

Wednesday, April 8, 2015

First Week of GST Implementation

Today marks the first week of GST implementation in Malaysia. This is the hottest topic at the moment. Within this week, hubby grumbled a few times about some coffee shop who had increased their price. As for me myself, I noticed some cafe and kopitiam also had increased their price of foods. And on top of the new price, some also impose GST 6% on the bill. It is obvious that some of the shop operators are taking advantage of GST implementation to increase the price of their food. At one of the kopitiam, hubby asked the shop operator why the tea-c which was priced at RM1.30 before is now RM1.50 (15% increment)? The shop operator replied, it was because the price of evaporated had increased. Hubby shared with me some simple calculation. Let's assume, a can of evaporated milk which cost around RM3 can produce 10 cups of tea-c, then the new price of the evaporated milk would be RM5! That is ridiculous! 

A friend who had a bowl of kolo mee (Kuching local noodle) during the weekend complained that the price had increased from RM3.00 to RM3.50. That is almost 17% increment!

I am wondering if we can complain to KPDNKK for the 2 cases above...

That's just 2 stories from me for the first week of GST implementation.

Isn't it GST supposed to reduce the burden of the rakyat?

Monday, March 30, 2015

Pre GST Shopping Rush

I noticed people started talking about pre Goods and Services Tax (GST) shopping weeks before it's implementation on 1st April 2015. Since last Friday, traffic started to get congested and I saw many people went shopping around Kuching town. Among the goods sought after were electrical items, furniture and daily necessities such as toothpaste, detergent, toilet papers, baby diapers, shampoo, coffee powder, chocolate drinks, milk powder and canned food. 

Over the weekend, local tv news reported many shoppers crowded the shopping malls with both hands and trolley full with items. Local newspapers also reported on mad shopping.

Yesterday, when I myself went for weekly grocery shopping at a nearby supermarket, I was surprised to see many shoppers and the car-park was full. As for me myself, I only bought those items I need. No stocking as hubby and me don't usually consume a lot of daily necessities. For those with huge family size, I think it's wise to make bulk purchase for daily necessities as 6% savings of items purchased before GST would mean quite a lot for them. Just make sure to plan and purchase items as needed and make sure to use the items before the expiry date.

Wednesday, March 18, 2015

PTPTN: 20% Discount For FULL Study Loan Repayment

In one of my previous post, I shared on the process and procedure on how to make full PTPTN loan repayment. I also shared that I was given 20% discount when I told the PTPTN officer I wish to make full settlement for my PTPTN study loan.

So, for all PTPTN borrowers who wish to save some money, you may proceed to any PTPTN counters by 31 March 2015 to enjoy 20% discount when you make full PTPTN loan repayment. You may read the news here. My advice would be - do not turn up last minutes on 31 March 2015. Plan and visit PTPTN counter the earlier possible. Some times, it can be a very busy and packed day at PTPTN office especially with important due dates like 31 March 2015.