easicircle Publish time 30-4-2020 03:53 PM

5 Simple Ways to Manage Your Financial Better

Edited by easicircle at 5-5-2020 05:21 PM

How to manage your finances more efficiency. First thing first you must have a proper plan. If you fail to plan, you are planning to fail! Your financial well-being will determine your financial management how well you manage your money.

Managing Financial Risk

Ensuring your financial risk by effectively manage those risks. Financial risk is something that you should prioritize. The easiest way you may be thinking that not so called important by protecting yourself and what you have with insurance. Protect what you have not just only buy insurance for your health but for your property and income as well. Financial risk is something that cannot be completely ignored.

Save First, Spend Later

The right way to spend your monthly salary is by allocate a portion either for emergency fund or saving at the first place. Start to do a list for all commitments that you have to pay monthly and keep on track. It would be better if you try to create and use any automated saving or investment. This kind of habit may lead you to your financial goal. Never wait till the end of the month to save what's left your income.

Remove Unnecessary Expenses

Love to hangout outside, eat out so often or just a cup of coffee at Starbucks almost every day? It may cost you a lot. For example, dining out or take out can be costly even it may be huge time-saver for busy person but the expenses can be tremendous. If you still paying for gym membership but how often do you really use this service? If the answer is less than once a week you better cancel it, you're likely throwing away money. Remember, the idea is to learn how to manage your finances well by taking everything you send into account.

Grow Your Money

If you want to be financial security, build your habit in having a good plan and get closer to your goal. Start to invest and have a retirement plan as your long term financial goals. Figure out what kind on investment fund you should invest for starting at the lower risk but highly return.

Pay Off Debt

Have a plan and be able to pay off debt is huge achievement, as we know debt is a big obstacle for many when it comes to reaching financial goals. That's why a strategic approach for debt elimination needs to set up to help you pay it off quickly. Try to settle debt with highest interest rates such as credit card and other debts then consolidate them in order to help you eliminate bad debt even faster.

dioenqnp Publish time 17-6-2020 08:16 PM

Great to know all this stuff, especially for those who really like to spend money with credit cards.

KathyWong Publish time 18-11-2020 09:29 AM

Rionne replied at 17-11-2020 01:48 AM
You can use free accounting software malaysia for this. I accidentally found this site on the Intern ...

Thank you for the information, i just applied the 60 days free accounting software license :)

hommokuwada Publish time 5-3-2021 11:34 PM

1. Kesihatan. Top priority. Kalau tak sihat, obese, sakit, mental down dan boleh kena buang kerja dan business susah nak manage.

2. Belanja dibawah kemampuan. Tak ada ertinya kalau gaji RM100K sebulan tapi belanja dan komitment juga RM100K sebulan.

3. Kredit kad maintain satu jer dan minta bank limitkan kepada RM2000 sahaja untuk emergency. Kalau boleh tak pakai kredit kad lagi bagus

4. kena tahu apa liability dan apa aset. Contoh; kereta ialah liability.Owning a house pun kebanyakan kes di Malaysia adalah liability. Nak explain panjang malas la nak taip banyak-banyak. :)

5. Jangan ikut orang, jangan ikut culture; contoh macam ornag melayu banyak habuskan ke motor dan kereta. Jangan ikut.Tahan telinga dan buat derkk jer walaupun kena kutuk. Ikut cara Warren Buffet, kalau semua orang pergi kanan, ko pergi kiri.

makankuihku Publish time 20-3-2021 02:29 PM

yes kena ada planning ! start with a plan dulu .. walaupun time tu kita takde any excess cash .. masa tu kita boleh tengok lifestyle and spending habit kita tu boleh fulfil ke apa
yang kita nak achieve .. sustainable
ke tak cash flow kita tu ..

hommokuwada Publish time 17-4-2021 04:23 PM

1. Kesihatan top priority. Makan kena berpada. Excercise mesti. This is a way of life. Bukan sekadar 2-3 bulan atau setahun atau lepas dah capai berat ideal terus stop. Makanan di Malaysia bukan mcm makanan routine di Jepun atau Korea yang tak ada santan, minyak etc. Bila dah overweight atau obese, makan teralu banyak jadi duit banyak dibelanjakan. Kalau dah sakit lagi banyak duit kena belanja. Nak diet juga perlu banyak duit especially kalau diet protein makan ayam daging dan ikan. mahal.

2. Hidup dan belanja seperti di bawah kemampuan walaupun gaji besar. Hidup seperti baru lepas graduate dan baru dapat kerja. Duit lebihan simpan dalam ASNB atau EPF. Tak guna gaji 1 juta sebulan belanja 1 juta juga sebulan. Lebih baik belanja sebulan dalam RM3K mcm biasa walaupun gaji RM20 - 30K sebulan. Matlamat ialah untuk keluar dari rate race dengan secepat mungkin. Kena ingat by the time masuk mid 40s, badan dan minda dah penat kerja. Lagi teruk kalau kerja tu tak best.

3. Berkait dengan nombor 2, kena dapat pasangan hidup yang sama tujuan dan matlamat. Dapat yang kaki boros atau jenis degil nak show off sana sini, masak la...

4. Berkait dengan nombor 2 juga. Pilih kawan yang sesuai dengan matlamat. Jangan layan dan ikut perangai orang especially perangai orang melayu yang akan kutuk kita guna hadis "melayu":-

a. Simpan duit banyak-banyak bukan boleh bawa ke mati. Nanti anak bini joli lepas mati.

b. Anak-anak lepas dah kerja pandai-pandai la nak hidup

c. Apa kelas bawa myvi

5. Disiplin.

Tak semestinya makan gaji tak boleh jadi millionaires. Kena sabar dan disiplin.

easicircle Publish time 5-7-2021 05:26 PM

hommokuwada replied at 17-4-2021 04:23 PM
1. Kesihatan top priority. Makan kena berpada. Excercise mesti. This is a way of life. Bukan sekadar ...

Terima kasih kerana berkongsi info bermanfaat.

Mikaella Publish time 6-7-2021 04:51 PM

hommokuwada replied at 17-4-2021 04:23 PM
1. Kesihatan top priority. Makan kena berpada. Excercise mesti. This is a way of life. Bukan sekadar ...

I like this {:1_132:}

i think Malay dish is not really that bad sebab Japanese & Korean pun banyak guna tepung & high calorie sos diorang.. cuma diorang makan kuantit sikit. Nasi lemak, nasi dagang & nasi kerabu semuanya bagus sebab natural food tapi cuma sesuai untuk orang dulu-dulu je... sebab diorang kerja petani/nelayan/penoreh getah yang setanding penggunaan tenaga seperti buruh. orang yang kerja ofis mana nak sesuai makan macam tu...

Mikaella Publish time 6-7-2021 04:55 PM

hommokuwada replied at 17-4-2021 04:23 PM
1. Kesihatan top priority. Makan kena berpada. Excercise mesti. This is a way of life. Bukan sekadar ...

setuju sangat kesihatan top priority. makanan yang bagus seperti supplements, buah, karbo kompleks & protein memang mahal... yang murah tepung-tepung & noodle yang menggemukkan, huhu

tapi sebab iols prioritise healthy first, i don't mind to spend. Iols dah lama tak makan buah-buahan biasa, cuma buah-buahan low sugar iaitu blackberi, kiwi, dan avocado. protein pun kena cukup kalau tak nanti rambut gugur, huhu... since berat iols 48kg, so kena makan 48g protein jugak sehari. 150g dada ayam rasanya cukup itupun bakar je dalam oven - alas dengan baking paper so tak pakai minyak. takut gemuk, huhu

mieyrasfea Publish time 5-2-2023 04:32 PM

Investing in one's future, such as contributing to a retirement plan or investing in a diversified portfolio, can help grow wealth over time.

khukhu Publish time 5-2-2023 05:25 PM

Understanding one's income and expenses is the foundation of effective financial management. Keeping track of spending and creating a budget can help individuals identify areas where they can reduce expenses and increase savings.

bbi25 Publish time 5-2-2023 06:10 PM

Building and maintaining an emergency fund is important for unexpected expenses or periods of unemployment.

cle256 Publish time 5-2-2023 08:56 PM

Regularly reviewing and updating one's financial plan and staying committed to sticking to it can help ensure that individuals stay on track towards financial stability and security.

koko12 Publish time 6-2-2023 12:30 PM

Having a clear understanding of debt and developing a plan to pay it off is another important aspect of financial management. This can include paying off high-interest debt first and negotiating with creditors to reduce interest rates.

licaca Publish time 16-2-2023 04:37 PM

Monitor your finances regularly and adjust your budget and investment strategy as needed to stay on track towards your financial goals.

maxjp Publish time 12-6-2023 07:14 PM

very good thank you for share this perspective , its aplicable and very usefull

fpginsura Publish time 26-6-2023 02:30 AM

remove un necessary expence is the most logic advice

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