Guest post by Azhar

The title is a bit over statement. Actually there is no 1 answer for all our financial problems. Currently I still have consumer debt ( credit card debt )  and housing loan. What is important is managing our money and our life. There are a hundreds of blog, website regarding personal finance some a very good and very informative. As for the FINAL ANSWER on how to manage money and life, the answer is YOU. All the people, advice, information that have a round us is a guide. A guide to understand the fundementals of money and life. An example for me to follow or neglect. My final answer for my personal finance is changing and evolve around me.

Here are a few guideline that I use to manage my personal finance.

Financial Knowledge

My journey on financial knowledge started in 2008. I want to know more about personal financial and financial freedom. My favorite blog that I read ” getrichslowly ” It have answer on most of my questions regarding personal finance. Better look for the 2006 and 2007 entry because there are a lot of original content from the author. In malaysia there a a few site about financial but lack personal touch ( I might me wrong here ). Some of them are ” duitmoney, bebashutang, pakdi etc ”

Spend Less Than You Earn

My goal each month to have positive cash flow. I budget my salary each month to have some money save in the bank or increase my emergency fund. I must tell you not every time I was successful, there are month that I have negative balance. Therefore I am using my emergency fund.

Save 10% of my salary

This tips I take very seriously. It is mention in getrichslowly, books that is written by azizi ali, and also a book entitle Rich man in Babylon.

Avoid debt

All debt is dangerous. The most deadly debt for me is Credit Card debt and Personal Loan. I have no personal loan but I carried a balance on credit card from 2001. Hopefully I will debt free early February 2011 except for my mortgage.

Know your strength and downfall

Everybody have their soft spot. After much searching and analyzing. My biggest enemy that brought me to financial ruin is my greed. My greed for riches have cloud my judgement. I venture into FOREX without knowledge ( breaking rule number 1 )  As for now I just venture to the things I know like ASB. Yes it is slow, but it is me. I want to sleep every night without worrying my investment.

Take Action

I used to be lip service and mind service. Thinking and saying without getting anythings done. It is good to plan, but don’t look for perfection. do what is good for you. Eventhough it is so small that you might not remember today. Eventually it will come to help you. Do something and do it now.

Final answer for personal finance is yourself. Do what is good for you and your family.

Popularity: 23% [?]

Summary from PIDM official website.

All types of depositors, whether individuals or  businesses, are protected. The maximum limit of coverage is RM250,000 per depositor per member institution. This includes both the principal amount of a deposit and the interest/return. The RM250,000 limit provides for 99% of existing depositors to be protected in full. The Malaysian deposit insurance system provides separate coverage for conventional and Islamic deposits.

Deposits eligible for protection

·         Current and savings deposit accounts

·         Fixed deposits

·         Joint accounts, trust accounts

·         Foreign currency deposits

Deposits NOT eligible for protection

·         Deposits not payable in Malaysia

·         Inter-bank money market placements

·         Negotiable instruments of deposit (NIDs) and other bearer deposits

·         Repurchase agreements

·         Unit trusts

There is also separate deposit insurance protection up to the RM250,000 limit for a depositor who holds a deposit under each of the following categories:

a)      Islamic accounts – These accounts are separately protected up to the RM250,000 limit.

b)      Joint accounts – Joint accounts enjoy separate deposit insurance protection provided the records of the member bank disclose the names of the joint account holders.

c)       Trust accounts – For trust accounts, beneficiaries can enjoy separate protection if the trustee discloses the interest of each beneficiary and the amounts owed to each beneficiary on the records of the member bank. Each beneficiary is protected up to RM250,000 separately from insured deposits held in their names.

d)      Accounts of sole proprietorships, partnerships or persons carrying on professional practices (e.g. architects, dentists) – These accounts are also separately protected up to the RM250,000 limit.

Popularity: 13% [?]

Guest post by Robin Williams who is a financial writer covers debt and other personal finance topics.

Credit cards may seem to be the best thing on earth as it helps you purchase anything anytime without the need of cash. However, if you do not handle your credit cards properly, they may become the cause of all your financial worries. Credit cards are known for their outrageously high interest rates and this is the reason why most Americans are drowning in an ocean of debt. If the consumers would have calculated the debt amount through credit card payment calculator, they would not have been trapped in the vicious cycle of credit card debt. There are some ways in which you can lower the interest rates on your credit cards and make your monthly payments affordable. Read on to know about them.

1. Shop around: There are various credit card companies that are waiting to offer you their cards and make business out of you. In the current financial condition, you need to stay aware of the ways in which you can save money keeping in mind the rise in the costs of goods. Thus, to avoid any kind of financial loss, make sure that you shop around and take credit card interest quotes from more than 4 companies. Check out the rates, whether or not they are in accordance with the present market indices. Choose the one that suits your wallet the best so that you do not default on the minimum monthly payments.

2. Check your credit score: Your credit score is the most important factor that is taken into consideration by the lenders before lending you a credit card. With high interest rates, the monthly payments on a credit card will also be huge. Since there may be cases of credit card defaults, the lenders check the credit score before lending credit cards. A good credit score implies good personal finance management and timely and regular monthly payments. On the other hand, poor credit score will make the lenders skeptical about your repayment ability and they may lend you a card but with higher interest rates making it more difficult for you to repay.

3. Negotiate with your creditors: In some cases, consumers may also find it easier to negotiate with their credit card lenders and make them agree to a lower rate. If you’ve been offered low interest rates by a different credit card company, you may tell this as an example so that the lender alters the rate to keep you dedicated to his company. This kind of negotiation may bring positive changes to the interest rates on your cards as lenders may agree to lower the rates for customer retention.

Therefore, if you’re looking for ways to lower the interest rates on your credit cards, you may simply follow the steps mentioned above. Being stuck in huge amount of credit card debts can be a costly mistake in the long run. Low rates will simply reduce your credit card debt burden. Determine your minimum monthly payments on all your cards through a credit card repayment calculator so that you do not miss out a single payment and incur late fees.

Popularity: 16% [?]

Malaysia Base Lending Rate ( BLR )

Malaysia Base Lending Rate 2011 ( Malaysia BLR 2011 )

Malaysia Base Lending Rate 2010 ( Malaysia BLR 2010 )

Popularity: 17% [?]

Base Lending Rate ( BLR ) in Malaysia.  Update 26 December 2010

Last updated: 26/12/2010

This table as for your guidence only. For more accurate infomation you can go to respective bank.

Popularity: 36% [?]

Jadual prestasi Dividen dan Bonus ASB 2010 serta BLR untuk 20 tahun kebelakangan ini di Malaysia ( ASB Performance )

Jadual prestasi dapat memberikan sedikit gambaran mengenai pendapatan tahunan ASB. Diharap maklumat ini dapat membantu anda membuat pelaburan yang bijak dalam ASB.

Sikit-sikit, lama-lama jadi bukit.

Popularity: 17% [?]