Finances

One of the much talked about topic of the day when our PM revising the 2016 Budget again just after 3 months from tabling it late last year, the EPF contribution of employees will be reduced by 3% to 8% (from current 11%). The new revised rate which will take effect for the period between March 2016 till December 2017 , was to put more money into your own pocket, and hoping that you will spend it to rejuvenate the half dead economy. By doing so, you're contributing to the economy and back to the coffer of government via GST. What do you think ? Sounds good, if you really want to loosen abit your cash flow. Anyway, it won't make a big difference either. For example, if you're earning RM3,000 salary monthly, the 3% extra pocket money was RM90 only. Spending it on a lavish dinner? "However, from tax planning perspective, we must not forget that our EPF contribution entitles you for up to Rm6,000 tax relief (EPF + Life Insurance premium). In other words, lesser EPF contri...

Chinese New Year is around the corner. Are you still rushing and queuing at banks just to change new notes to prepare "ang pow"? Relax... With the advancement of technology, Maybank this year rolled out a series of CNY special treats with innovative banking experiences. ATM also can change NEW notes ??? Yes. Hassle-free. You don't have to go to banks during banking hours purposely. Right now, you can just go these 88 locations nationwide to change for new RM10 and RM50 new notes. Please take note that the service is only available from 18 January till 9 February 2016. (it's still sad for me to change for smaller notes...) A new way of sending Ang Pow... e-Ang Pow !!! It's a blessing by giving ang pows to loved ones and prosperity will continue following you. Tired of folding ang pow physically, how about giving it online? How to do it? All you need is an Android device with Maybank2u Mobile App , and of course you must be a Maybank customer. Once the transact...

Want some investment which is very short term? And, can give you decent return? You should continue to read this newly launched fund by UOB Asset Management .  The fund seeks to provide investors with capital appreciation and achieve the Trigger Level in the short term by investing in a portfolio of equities and equity-related securities. What's TRIGGER EVENT ??? A trigger event occurs when the trigger level is achieved or exceeded for 3 consecutive business days at any point in time. In order to achieve the objective, the manager will primarily invest in equities and equity-related securities with SHORT TERM growth potential, which are listed or traded on Asia Pacific markets. The balance of the fund's that is not invested will be invested in fixed income securities, money market instruments and/or held in deposits. What kind of approach will be deploy for this fund ??? The manager employs fundamental and bottom-up analysis as an integral part of its equity investment...

It’s no fun being broke when the season to be jolly rolls around. So to avoid that from happening, let’s start organising Christmas plans earlier so your 2016 celebration can be a happy occasion ! Follow these easy ways below ! (Image Credit:  www.comparehero.my ) Start Early Set aside some money for Christmas now! Sure it may seem like Christmas is months away and but time flies and before you know it will be that time of the year again. If you don’t get started with sorting out your budget and finances , you won’t be feeling very merry when Christmas rolls around this year. So the first step to ensure you have more money for this year’s Christmas is to actually start setting aside some money and planning out your finances. Have A Game Plan Start making a list of who you want to get presents for and what you think they may like best. Then look out for deals or bargains on the items that you’re planning to buy throughout the year. This will also help you to avoid getting gifts on i...