Monday, March 30, 2009
Friday, March 27, 2009
Wednesday, March 25, 2009
"Earth Hour is an annual international event created by the WWF (World Wide Fund for Nature/World Wildlife Fund), held on the last Saturday of March, that asks households and businesses to turn off their non-essential lights and electrical appliances for one hour to raise awareness towards the need to take action on climate change. Based on an idea successfully executed in Thailand in 2005, it was pioneered by WWF Australia and the Sydney Morning Herald in 2007, and achieved worldwide participation in 2008"
Monday, March 23, 2009
a) Recycle of all recyclable products
b) Reuse of paper/envelopes
c) Negotiate for lower price when asking for quotations
d) Switch off all electronic equipments (air-cond, lighting, computers, printers, scanners) when not in used
e) Use emails for communication to save on phone call or fax charges
f) Reduce on unnecessary printing or copying
g) Educate all staff the importance of cost saving
The above ideas not only will significantly reduce office expenses, but will also bring in extra cash for your office and most importantly environmentally friendly.
Do you have any more cost saving ideas for your office? Do share with me.
Tuesday, March 17, 2009
"Despite the financial meltdown, the EPF recorded the highest ever earnings of RM20 billion in gross income for 2008. This represented an increase of 9.36 per cent over the previous year’s gross income of RM18.29 billion.
Tan Sri Samsudin Osman, EPF Chairman said, “While the year 2008 was challenging due to the unprecedented global financial crisis that has impacted economies worldwide, EPF’s investment portfolio for the year performed better at the gross income level compared to 2007. However, due to the sharp decline in the equity markets, a large provision had to be made resulting in a marked reduction in net income.” "
The dividends will be credited to its members’ accounts on 23rd March 2009, next Monday.
You may read related news on NST online too.
Monday, March 16, 2009
Today I am feeling good as I terminated 4 of my credit cards. Three of them, I never used them before. One of them, I terminated it because I hate to see the administrative charges of RM6 when I use the card for less than RM50/month. Furthermore, I didn't see the cash rebate incentive for this particular card. And it's very inconvenient for me to make my credit card payment as this bank has limited payment counter, only 2 cash deposit machines in Kuching town. And these 2 machines were located at the same location.
Well, at first I thought I can just terminate my credit cards by sending my termination request through email. I was wrong. Upon sending my emails to the related banks, within 2 working days, 3 of the banks replied with a termination form. I had to fill in the termination form, provide them the reasons for my termination and also I had to punch a hole in the middle of the microchip on my credit card, and cut through the magnetic swipe strip on my credit cards. I completed all as requested and had sent the termination form and the cut-through-credit-cards to the banks. On the termination form, the banks stated clearly that, they reserved the right to charge RM25 per card if the credit card were not returned to the bank upon termination.
Only one of the credit cards company accept my request through email. The customer service of this bank called me 3 days after they acknowledged receipt of my termination request. Still the customer service asked me for the reason of the termination and advised me to continue using the credit card. Of course I rejected his offer in a nice way. He said he'll process to deactivate my account and advised me to destroy the card on my own.
Perhaps you're wondering why I applied for the credit cards even when I didn't use them. For all of my credit cards, except my PB credit cards, I was forced to sign on the credit card application form. Ok ok, not forced. Actually the credit card consultants came to our office and talk, and talk and talk till I have no choice but to support them by applying for their cards. In some cases, the credit card consultants were friend of my friends or colleagues. So, they just asked me to do them a favour (They need to hit sales target). Other reasons would be because of the attractive free-gifts, petrol rebate and free for life membership.
Anyway, I promised myself not to simply sign up anymore, unless I really want the credit cards. I hate this trouble to terminate the credit cards.
Thursday, March 12, 2009
The Bon Simpanan Merdeka 2009 has 3-year tenure. The interest will be bank-in to investor's saving account on monthly basis.
Do you know anyone (senior citizen) who's interested to invest in Bon Merdeka 2009? You can read more details here.
Updates on 13 Mar 2009: Apologise for the late updates. The bank officer called to inform that Bon Simpanan Merdeka is fully subscribed. You can refer to the news here. But, the good news is there will be another series of Bon Simpanan Merdeka which will be released soon.
Wednesday, March 11, 2009
Monday, March 9, 2009
1) Upon receiving your salary, make it a habit to withdraw a portion of it and directly deposit it to another saving account. Preferable a saving account without ATM card or cheque book. So, that it won't be easy for your to withdraw the $$$ when you have the desire to spend it away. If you find it hard to start with 10% of 20% of your salary, try with smaller amount. As the time goes by, you will find yourself to be able to save more and more. But, you must make sure it's your first priority before you spend away your salary. This method work best if you are someone with high level of discipline.
2) Arrange an auto-debit with your bank to automatically transferred a certain amount of $$$ (on a selected date) into another saving account.You can choose to do it monthly, quarterly, half-yearly or annually. The best way would be on monthly basis. Because the main idea is to save a portion of your monthly income. Personally, I find that this is the best method as it is natural for human being to be forgetful to perform the same task as the time goes by. Better to leave this task to the bank system.
3) Try to ask your employer or human resource department if it is possible to directly pay a portion of your salary to another saving account. This method is almost the same with the first method. The difference is your employer will do it for you, instead of you do it yourself. Before you get to see the $$$ in your bank account, your employer already help you to transfer it to another account. Because you didn't get to see the $$$, you won't have the desire to spend it away.
4) I would consider investment as a way to pay myself first. If you've an extra of RM500 or RM1K, why not starting a unit trust fund? And arrange for a standing instruction (SI) with the unit trust company to invest a fixed amount of $$$ in your fund, on a monthly basis? You'll be surprise to see how much you've saved as the time goes by.
So, when are you planning to start to pay yourself? Now? Or next month? It's never too late.
Tuesday, March 3, 2009
It is never easy to train our mind to pay ourselves first. But, you should at least try to. Here are 5 good reasons why you must pay yourself first:
1) You earned the $$$, You deserved it. You only receive the $$$ after a month (or an average of 160 hours) of hard work. It's precious. You gotta save some of it under your name. You can use it to build your emergency fund, as monthly savings or even preparing for your retirement fund.
2) Put yourself at first priority compare to the rest of creditors. By practicing paying yourself first, you will treat yourself as one of the monthly creditors. The main difference is, you will maintain the $$$ under your name and keep it safely (in an interest bearing account) rather than transferring it to someone else account. Furthermore, it usually won't work if you wait till you finished pay the rest of the creditors, then keep the balance. Most likely, there is no balance left.
3) You must prepare yourself for unexpected situations like out of job or not being able to work or earn $$$. Now that you're healthy and fit, and able to earn $$$. Have you ever think of the situation where you are not able to bring home any $$$? What will happen to you and your dependents? The weather won't always be sunny. You must prepare yourself for the rainy days.
4) It is your baby step in financial planning. Once you start to pay yourself first and see the $$$ growing after a few months, there is a kind of special energy that will encourage you to be more alert towards financial matter. You will get hooked into saving more $$$.
We deserved a good portion from our hard earned $$$. Start now - upon receiving your salary, make sure you pay some $$$ to yourself. Start with small amount and when you get more comfortable, increase the amount. If you didn't pay yourself, who else would?