Wednesday, September 20, 2017

Cost of A Nanny @ Baby Sitter In Kuching


Having a baby is a big decision for many of us. With a baby, come many responsibilities and many changes as well as adjustment in our life. Well, there will be  many sacrifices as well. Nevertheless, the happiness and joy that a baby will bring to a couple's life, is unexplainable and immeasurable.

A baby also come with high financial commitment. For me, the biggest part of the financial commitment goes to child care. I pay my baby sitter RM650 per month for taking care of my baby while hubby and me at work. Some of my local friends in Kuching are paying RM600 to RM700 per month. There are also co-workers who shared that their relatives take care of their babies with monthly fee of RM250-RM350. My colleagues in KL are paying between RM800 to RM1200 per month for child care. But, most important is we trust the baby sitter will take good care of our baby.

Feel free to share in the comment how much you are paying for your childcare services.

photo credit: Scottish Government images Baby Box Bairns via photopin (license)

Thursday, July 6, 2017

Cost of A Confinement Lady In Kuching



I must apologise for being inactive for the past 2 years. The reason behind is I am now a mum of a sweet 1 year old. I must also say that I missed blogging terribly. But, somehow, my mind become blank even though I have a lot to share. 

So, let me start with sharing a simple post of cost of confinement lady in Kuching. I've started to ask around for confinement lady during my first trimester. Heard about some scary sharing from friends and internet on poor attitude of confinement lady which caused new-mum more headache. I was lucky because my bro-in-law's relative is a confinement lady. We arranged for a short meeting with the confinement lady and placed my booking fee. The charges was RM3800 + an angpao for the confinement lady. She turned out to be a helpful and kind confinement lady who took good care of me, my baby and  my hubby for one whole month. From sharing with friend, relatives and other confinement lady, the charges for one whole month service by a confinement lady range from RM3800 to RM5000 + an angpao. For my confinement lady, the angpao is up to me, there's no specific amount. For some other confinement lady, they might put a specific request, for example RM200. I met other new mums who shared that they pay half of what I paid for a day-time confinement lady, meaning the confinement lady only take care of mummy and baby during day time.

Anyone who's interested to contact my confinement lady, feel free to send me an email.

photo credit: Renate Bomm Cumpleaños de hoy via photopin (license)

Thursday, June 29, 2017

Food Price Hike Part 2


In 2015, I posted about food price hike in Kuching. Recently, I noticed 2 of my favorite bun (also know as pao locally) stalls also increase their price. The first one is my favourite steamed white bun stall, in which last year I paid RM1.70 for my favorite meat bun. Few months later, the price increased to RM2.00, then recently it is RM2.40. The second one is my favorite baked meat bun, which was RM1.80 per piece. Then, the price increased to RM2.00, followed by Rm2.20 and now is RM2.40 per piece. Within 1 year, the price increase by about 30%.

For the baked meat bun, the owner had earlier shared with me she is having a hard time due to price hike in all her ingredients such as cooking oil, butter and meat filling. She has no choice but to gradually increase her price to maintain the operation. One good point is that her baked meat bun still has the same quality and quantity.  I noticed there are other stalls which increase the price and reduce the size of their buns.

It is a bit scary because within 1 year, the price increase by 30%. Wondering what will happen if the cost of raw ingredients keep increasing like now.

photo credit: Đam Mê Ẩm Thực CÁCH LÀM BÁNH NGÀN LỚP VỚI PHÔ MAI VÀ MỨT MƠ NƯỚNG – BAKED BRIE IN PUFF PASTRY via photopin (license)

Tuesday, February 21, 2017

EPF@KWSP - EPF Declares 5.7 Percent Dividend Rate For 2015

On Sunday, EPF@KWSP declared a 5.7% dividend for the year of 2016. Compared with last year, in which the 2015 dividend was 6.4%, 2016 dividend percentage has dropped about 0.7%. 

Of course I am hoping for higher dividend, but I am happy with EPF@KWSP 2016 dividend rate. Last year has been a challenging year globally and locally. So, I am grateful for 5.7% dividend rate.

I logged-in to my EPF@KWSP i-Akaun on the same day and my 2016 dividend has been updated in my statement. 

You may read the new here on The Star Online or on EPF@KWSP website

Wednesday, December 21, 2016

How to Stick To Your Budget

 

The budget that you set for yourself should be realistic. It's not something you can do overnight, it’s a process you have to get used to on a regular. Your budget should not feel as if you're keeping money away from you but a means to secure yourself a better future. Once you are finished creating a budget, following through is the next step. Read on below to find out how to stick to your budget.

1. Use Visual Reminders
Visual reminders helps you see the bigger picture which is, investing in your own future. Whether it's a photo of your dream car, a place you want to travel to, a house, anything else that you are saving up for. It can also be as simple as a piggybank where you keep loose change and maybe loose bills as well. Seeing how much you are able to save or what you are saving up for can help you focus on sticking to your budget.

2. Make it a Game
Depending on your budget plan, you can accomplish your desired amount of money saved by challenging yourself. You can set to save x amount of money per day, week, or month. There is that rush when you don't want to lose, especially to yourself; and that rush when you are able to achieve a goal.  You'll be surprised how much you can save if you see budgeting as a game.

3. Take Your Budget with You
You may have it all figured out in your head but it makes a huge difference when you plot it on paper or a computer. Another way you can follow your budget is writing it down. By doing this, you can cross check all purchases, bills, debts, etc. against it anytime and anywhere. Reviewing it weekly or monthly can also help you stay on track and from falling through the cracks

4. Don't Deprive Yourself
In the end it still boils down to realistically planning your budget. You can drastically cut your budget to reach your goal faster but it can lead to budget burn-out. If you feel deprived, you are more likely to overspend. Allot an amount for fun stuff each month (i.e. eating out, watching movies). You work hard for your money so it's just right that you spend wisely on yourself as well.

CompareHero.my is dedicated to raising financial literacy in our country and to helping everyday Malaysians make smarter and well-informed financial decisions in life.


Friday, April 22, 2016

When Should You Get A Personal Loan And Not A Credit Card?


If you’re looking out for some extra cash, both personal loans and credit cards can be great financial tools to help you get the funding that you need. But the first thing is for you to be clear on what you’re taking a personal loan or getting a credit card for. Essentially since you are borrowing money that you don’t have yet and that can lead to some serious financial repercussions.

However there are times when a personal loan trumps a credit card and here’s what you need to know before you choose which one you want.

1) Personal Loans Have Lower Interest Rates Which You Can Use For Larger Purchases
If you need to borrow a large lump sum of cash which you can’t pay off quickly, you should get a personal loan. This is because personal loans offer lower interest rates that most credit cards For example, the interest can vary from 4% to 9% p.a. for personal loans versus 8.88% to 18% p.a. for credit cards. Think about it, if you can’t pay the money back immediately, you’re going to be looking at some very hefty interest charges on your credit card.

2) Personal Loans Can Be Used To Consolidate Debt
A personal loan can be a means for you to get a fresh start on your finances. By consolidating your debt with a personal loan that offers a much lower interest rate than paying multiple loans and credit cards at the same time, you get to simplify your debt and regain control of your financial situation. While you CAN do this with a credit card (0% balance transfer, cash advances and etc.) you might want to consider the following facts first.

3) You Can Only ‘Borrow’ As Much As Your Credit Card LimitMost credit cards have a credit limit which is set for you by the bank based on your credit history and your level of income. So depending on what your credit limit is that’s only as much as you’re going to be able to use to fund whatever it is you want to do with the money. And that’s not to say that personal loans will instantly loan you the money, as the banks will still evaluate your debt service ratio to ensure you can pay them bank before they disburse the loan.

4) Credit Cards Require Much, Much More Discipline
Imagine this: you’ve made your purchase and now you’ve spotted something else that’s caught your fancy. You’ll just add it on to the credit card’s bill and pay it all off later, right? Wrong! Just because you aren’t literally handing over cash for something, doesn’t mean you’re not spending it.  From a psychological perspective, a personal loan makes you feel the pinch more than when you’re out and about freely swiping a credit card. After all that’s cash that you’re taking out of your account, whereas with a credit card, you’re just adding debt by spending money that you don’t have. And make no mistake; if you let your credit card spending get out of hand, you face the risk of falling into major debt.

There you have it! Those are the reasons why a personal loan can be a better financing option than getting a credit card. Why not check out this free personal loan comparison tool by CompareHero.my to find the best personal loan deals in Malaysia today?

Saturday, February 27, 2016

Gen Y: Three Simple Tips To Improve Your Financial Responsibility


In the Malaysian society, there are vast opportunities for job employments and innovative business start-ups for Gen-Y. You just need know how to follow the money. With that being said, it should be a breeze to stash away your funds right? No! There are hidden bills, costs, expenditures and the declining rate of the ringgit currency (RM) doesn’t help either. The hope of earning your first million before your thirties may slowly fade away. The transition towards adulthood may be exasperating, especially for young adults who have not mentally prepared themselves for the financial responsibilities that awaits them. But fear not! Here are 3 tips to be the financially-savvy Gen-Yer that you are meant to be.

1) Increase earning power
Getting a job with good growth prospect can push forward your earning power. Once you have a steady income, the more you can afford to spend. Learning is never-ending, so remember to constantly pick up new experiences and knowledge throughout your job tenure. It is important to fit your goals and values to the business direction. Not only will your job satisfaction increase, your performance at work will also show a significant improvement. This increases the chance of a job promotion too! On the other hand, if you are looking to be an entrepreneur, a start-up is a proven method to push up your ability to make money. However, bear in mind that starting up your own business is a 24/7 job that requires drive, passion and skills. It will not be easy but the benefits reaped are definitely worthwhile.

2)
  Own a credit card

According to socialmarketing.org, William J. Schroer mentioned that one in nine Gen-Yers owns a credit card co-signed by a parent. The significance of credit cards is highlighted in this world full of technologies. Without it, many people suffer paying huge expenses by cash. You need to know your spending habits to be a financially responsible adult. For example, you prefer to redeem weekly rewards after swiping your card. Getting the best rewards credit card in Malaysia to gain points and enjoy rewards for each transaction you make. Besides earning reward points, reward credit cards give you great cashback too! Disclaimer: Do keep track of your daily spending to avoid swiping your card too frequently.
3) Take measured risks

What does it take to be financially independent? You need to define your own goals and achievements. 90% of the Gen-Yers are assumed to have savings account since a young age. Despite so, keeping money in the bank does not guarantee financial success. Step outside of your comfort zone and invest in valuables you deem worthy such as properties, gold, shares and education. Yes, you heard it right! Education is a long-term investment that gives you a well-rounded aspect in life. Quoting Nelson Mendela, he reiterates that ‘education is the most powerful weapon which you can use to change the world’. Do plenty of research before taking the risk and you are destined for financial success! With these pointers in mind, create your own set of objectives in life and put your plans into action. If you want to invest, never put your eggs into one basket, diversify your investments and get a good financial mentor. If you a searching a credit card that provides you with rewards and gifts, get a rewards credit card that gives you the best of both worlds – saving money while you spend! That is all it takes to be a financially stable Gen Y adult. What are you waiting for?