Monday, May 23, 2011

Financial Independence

Hey-o peeps!

This morning I teman my bestie go to job interview.


I think that's the name of the company.

She leaves me after I wished her good luck.

Sampai-sampai je ya Allah. Panas nak mampos!

Ada air cond. Tapi tak on. Takkan aku nak suruh the employees nak on kan.

Segan kot.

S'okay. It's cool. There's a man suddenly appear and say, "Hello. Please, help yourself with the drinks."

Itz okay dude. Mak bestie aku da bagi air tadi. Kenyang dah.

Moments later, the same guy kind heartedly switch on the air-cond~ Oh, god bless you mister. XD

After feeling fresh with my sweat all dried up, my eye caught something interesting.

A book made by the HSBC Bank.

It is about 'Financial Independence'.


Financial Independence!? WTH!?

Izit the same as Malaysian Independence?

Haha. No.


First and foremost, Financial Independence is not to be mistaken with us having high income. It is basically, about spend less than you make.

There are 4 points that should be taken consider.

1.    Set Goals

Yep. Set your goals. Short term goals and long term goals.

Short term goals are the basics like saving deposits, pay off credit card bills which will support the long term goals.

The long term goals are buying a house and/or saving up money for early retirement.

Like me [a student], if i were to buy a motorbike Yamaha LC (long term),

Nice.. This is what I want..
I have to settle my PTPTN debt first (short term).

2.    Keep Wealth Flow

One word. Investment.

By investing your money, your future is confirmed.

In addition, writing a Will can help to channel your wealth to your family.

3.   Security by Insurance.


There are two types of insurance; whole life insurance and endowment insurance.

    -  Whole life insurance : money accumulated of fixed payment and will receive pay after the issuer's death.
    -  Endowment insurance : money accumulated  of fixed payment and will receive pay after the issuer's death, or the maturity of the insurance, or whichever comes first.

Aku baru belajar bende ni sem lepas. LOL

By having an insurance for you and your family, you have the protection from any losses

Plus, bestie aku pun penah cakap yang aku perlu dan mesti dapatkan insurans. Memang tak dapat nak dinafikan.

4.   Building nest egg for children

Teach. Child. To. Save.

Yes. Teach personal finance at young age. 

How? Simple. Train children to save a percentage of money earned by gifts and part time work. Invest those.

InsyaAllah, no sweat and tears shed when they start college.

Also, taking up insurance police that builds up cash value when the child is very young is a good start.


Aiya. Take small steps every day loh.

Because rome was not build in a day, neither did Malaysia gain independence overnight.

Set goal, know what you want, work towards it.


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