Tips for Opportunistic Buyer :)

Assalamua'laikum wbt & Good Day,

One quarter had passed for 2018 and Hola! 

This is the second entry on the third week of the first month in second quarter of 2018. 

Did your tongue feel twisted while reading the statement above? HAHA #lamejoke

I am currently very excited for my next short vacation to Indonesia in less than 10 days’ time. Never thought that I will be traveling to Indonesia for the third time after my first visit to Padang in 2014 and Jakarta last December.

 For this time, I think I would like to share on financial related matters.

I acknowledged that I am not a very  customer oriented person and that is where I always find it hard to start any business. However, I believe that I am a good strategist and opportunity identifier. Hence, after reading few financial management books, I can conclude that I can use another platform to ensure all my expenses are done smartly without jeopardizing the quality of the items or services that I desire. 

Frans Josef Glacier, South New Zealand.

Here we go!

1. I usually plan upfront for my travel and do my groceries based on that planning. As much as I can, I want to leave minimum amount of items in my refrigerator during my traveling period. On top of price, I really look in details on the expiry date of items that I would like to purchase and instill the mindset of "Better buy less items than it becomes expired later".

2. I subscribe to all kind of membership for items that I usually buy and do not mind to pay for the fee. However, for items that I rarely bought, I am fine to subscribe myself to be the member as long as it is free. I closely monitor my points and immediately convert the points before it expired.

3. For fuel, I closely monitor the promotion of PETRONAS gift card at LAZADA. This year, I had saved almost RM 50 from it. By purchasing this gift card, I got a lot of benefits in maximizing my purchase through the following:

a) Credit card points as I usually pay any online purchase using this method. 

b) Air Asia Big Points - do make sure you key in your BIG Membership No. at the end of your purchase. This point later will benefit you whenever you want to purchase any Air Asia flight. :)

c) Cash Back - by clicking LAZADA through Smart Saver, I am entitle for few percentage of cash back. You can register yourself HERE. Just use your IC No as username & password during sign up & first time login. You can change the details thereafter. 

d) MESRA Points - purchase of fuel at PETRONAS using gift card also enable you to collect  MESRA points which can be converted to cash whenever you purchase any items at PETRONAS Station.

Can you see how opportunist I am? HAHA!

4. For long lead items or items that do not have any expiry date, I usually buy in a reasonable bulk amount during any special sales. 

The view from Casablanca to Marrakesh via train.

5. For any other online purchase excluding gift card, I usually make my purchase via ShopBack to enable me to get cash back from all my online purchase. ShopBack  got plenty of online stores inside and offer rewarding amount of cash back which will be credited to our bank account once we hit a minimum available balance of RM 10. You can register yourself HERE and start browsing the site. I even request for Grab through ShopBack as any complete ride will enable me to get 20 cents. At least, something is always better than nothing. #opportunistbuyer

6. As for traveling, I usually search through Skyscanner.net and select on my preference based on the price & traveling duration. 

7. For any offline purchase, I always browse through any special offer from any credit card/ debit card provider and do my purchasing using that card to get the rewards.

I hope this sharing will benefit you and let us (who have minimum entrepreneurial skill) maximize our purchasing benefit by utilizing every available avenue. Lets be financially smart & savvy!  :)

Have a nice day. Wassalam~

Wealth Management: Way to Start

Assalamua'laikum wbt & Good Day,

 

It is good that today's youngsters have better financial insight as compared to previous generations. Most of them who are mostly Muslims have registered their account at Tabung Haji (TH), one of the boards in Malaysia that responsible in assisting the Muslim citizens to perform their pilgrimage. As of the date this post was drafted, the minimum amount that must be deposited into TH account is 1300 MYR in order to book our queue for pilgrimage with the most basic assistance.

 

However, there are many news keep on viral today whereby TH fund reserve bank is currently is at negative level. In a simple word, it indicates that TH might not be able to pay the dividends to millions of its depositors like previous years. However, there is still no concrete statement from any official parties who supposedly accountable to manage all the funds inside TH.

 

Sultan Omar Ali Saifuddin Mosque, Brunei Darussalam

 

Frankly speaking, I was deeply frustrated when I first read about this rumours. However, knowing that we cannot trust rumours so much although our instincts believe otherwise could be the best way to divert our attention in order to mitigate the risks associated with our savings.

 

On top of this, the government just release the new 2016's budget whereby the employees now have the options to either opt for 8% or 11% contribution to their Employee Provident Fund (EPF). I will not touch on these options as I believed that different people will definitely has different needs. But as for myself, I still stick to the current 11% deduction for the sake of tax benefits.

 

Sultan Omar Ali Saifuddin Mosque, Brunei Darussalam

 

Whenever any issues like these arise, having a solid financial planning is extremely important. Or else, we tend to base our judgment by following the majority preference without considering the pros and cons with our own current financial states and needs.

 

I would love to share the books that I have read in order to strengthen my basis while doing my own financial planning. My suggestions may not fit into everyone, but I believe you may consider to have these books in order to enrich your knowledge on financial planning.

 

1. The Millionaire in Me by Azizi Ali

 

This book teach us on way to manage our money but still become an employee.

 

2. Rich Dad Poor Dad by Robert T Kiyosaki

 

This book has opened my eyes that being highly educated in formal education system may not bring us to financial freedom; but financial knowledge do.

 

3. Cashflow Quadrants by Robert T Kiyosaki

 

This book told us about four types of individual based on the way they earn their money and ways to make money works for us instead of the other way around.

 

 

Brunei International Airport, Brunei Darussalam

 

4. Believe in Your Dreams and Grow Rich by George Leong

 

This book taught us a practical ways in managing our earnings or incomes and the necessity of having a good financial planning since early age.

 

And for Muslims, I would suggest you to read Mukmin Professional written by Ustaz Pahrol Mohd Juoi before you read any of books mentioned above in order to strengthen your basis on why we as a Muslim must strive to be the best in anything that we do, whereby in this case, it is by being a good rich Muslim.

 

Have a nice day :)

 

Wassalam.

 

 

Being Rich: A Perspective

Assalamua'laikum wbt & Good Day,

The hikes in living cost nowadays is quite alarming. Somehow, it is coincidentally happened that the numbers of crimes are increasing too; based on my personal reading. And there are few crimes being highligted whereby the reasons of doing the crimes that involved money were due to the need of maintaining living sustainability. And from these cases, it triggered my mind; how human are willing to do anything whenever they are in deep desperation.

Entrance to the Blue Mosque, Sultanahmet, Istanbul, Turkey

I am so in love with money. However, I am not materialistics. I am very sure about that. If I love money, and I am materialistics, why I always prefer night market items instead of high class and branded ones? Why I prefer to prepare my own meals instead of having it at prestigious restaurants? I can do that, but since I believe in the power of giving and moderation, I always look and learn on opportunities to make more money by not neglecting the syara'.

It was once upon a time when I were listening to Prof. Muhaya talk and I feel that the things she said was incredibly true. 

"We only can give what we have. We definitely cannot give what we do not have."

And this statement is not referring to physical belongings only. It can be love, respect, kindness and everything, you name it! And somehow, it change the way I think. In order to help more needy, I have to own the money. In order to gain respect, I have to respect others too. It is definitely true that what you give, you get back.

Blue Mosque, Sultanahment, Istanbul, Turkey

Based on my personal belief, in order to gain more money, we must first have at least the basic understanding of ways to manage the money that we have in the most prudent ways. How could we can gain more money if when we have less, we cannot manage it well as well? 

That is the main reason why I equipped myself with knowledge on wealth management before I started with wealth creation. And somehow, I still keep on learning these two subjects until today as life always required us to be dynamics and open to changes. 

But since we have limited time to contribute and enjoy our life, we have to master the way to manage our time in the most systematic way first. Do not procrastinate. Keep moving forward although we are still learning. After all, learning is a process. It never dies.

Internal view of the Blue Mosque, Sultanahment, Istanbul, Turkey.

One of the story captured my mind while drafting this post. 

A chicken feels envy to the cow because people love that cow more than chicken since the cow provides them with milk everyday although chicken give whole body to the people once they are slaughtered and becomes meat. And the cow gives a very simple answer to the chicken;

"I contribute to them while I am still alive, 

but you only can serve them once you are gone"

Have a nice day :)

Wassalam.

The Critical First Year

Assalamua'laikum wbt & Good Day,

Hola peeps!

Another new year. Most of us will definitely have new aims. However, aims will be just aims; if there is no actions come with it.

I am in the midst of reading one of Robert Kiyosaki's books and guess what?

I have learned that between mission, leadership and team, mission is the most important.

Hence, it tells us that whatever it is, mission is the thing that keeps us going. Lets strengthen our personal mission.

Galata Tower, Istanbul, Turkey

After all, I would love to share few things regarding wealth management. How does our sacrifice in the first year upon being hired will definitely strengthen our personal financial state.

Lets me share the way I did it.

I have started my journey as an employee to one of Malaysia's big companies in September 2012. Since then, I never make any financial commitment. I just simply divide my earning based on my previous post regarding the way I demarcated my income. 

Only in August 2013, I started my mortgage. I bought a single storey corner house that cost me extra 80, 000 MYR from the suitable price of house that I shall bought in that particular time. For your information, the safest price of house that we shall buy is equivalent to total of five years of our gross monthly income. 

Bosphorus Strait; a view from Galata Tower.
This strait separates the Asean Turkey from the European Turkey.

During my first year of working, I save almost 20% of my earnings without fail. I will straight away transfer the money to any of my accounts that have hard access to it in the event of I need to withdraw the money. And Alhamdulillah, with the power of accumulations, I can smile after one year. Only after that, I saved less as compared to my first year due to mortgage commitment and I need to set away few percentage of my earning for traveling. By the way, I only start traveling abroad after working for 14 months :)

Basically, our first year of working is critical. We shall try our best to at least to have a saving that is equivalent to three months of our salary. And of course, despite of saving some of our earning, allocation for distribution shall not been jeopardized; as that is one of the sources for barakah.

However, shall we missed doing that during our first year of having a steady income, it is not too late to start now. The most important thing is to have a good discipline and be consistent. 

The view of normal roads in Istanbul, Turkey.

There are more and more financial advisors that are willing to share the best methods to save our money in more interesting ways nowadays :) Just subscribe to anyone of them at Facebook and just consistently follow the ways that we are more comfortable with.

Have a nice day :)

Wassalam.

Inventory Management: When & How to Shop Wisely?

Assalamua'laikum wbt & Good Day,

It is not wrong for us to fulfill our material desires as part of self rewards. In spite of being a frugal lady, I still allocate few amount of my money to buy things that I love; handbags, sandals and of course, flight tickets. However, since this post is about inventory management, I'll not touch about flight tickets.

As an active traveler that is not born into a silver spoon family, I strongly believe that I can't get all I want at once. Hence, I need to prioritize my need and desire based on my important resources: time, money and energy. That is why, I rarely have my lunch and dinner out as having it by preparing it by myself is more economical, healthy and indirectly enhance my cooking skills.

King's Park, Perth, Western Australia

In lieu to above factors, I need to plan wisely my groceries shopping. On top of groceries, other stuffs that I need to frequently buy and make it readily available at home are self-care products and dairy products. Sandals and handbags may not fall under this frequently buy items, but in order to keep my motivation alive, I will reward myself with these items at least once a year.

For groceries that I frequently need and use, I usually buy it based on the special offer and the expiry date. For items with early expiry date, I just buy it according to my needs, but for items that still have long time to expire, I will buy it based on my availability in the town where I reside. However, for self-care products that usually expire 3 years after it was manufactured, I will buy it up to the next one year usage during my birthday months as I will get extra 5 time points at my first purchase within my birthday month. 

Oh, becoming a member to any groceries market or any malls that you usually go to buy your stuff is necessary as well! Do understand the terms and conditions in order to allow ourselves to fully utilize the benefits of being a member. In the environment whereby every items seem to be pricy, we have to be really frugal and make use of any benefits or advantages that exist. However, as for myself, I do buy from small market or shop for items like eggs, raw meat, fish, vegetables, spices, onions and garlics as part of my personal social responsibility to help local people. 

Jewel Cave, Augusta, Western Australia

In summary, below is the way I plan my personal inventory in order to fully maximize the benefits upon joining any membership at any malls, supermarket, pharmacy and etc:

1) Daily cooking helps: small local market.

2) Dairy products: buy as much as possible during offer if the expiry date is still long way to go based on my availibility at the town where I reside.

3) Self-care product: one year ahead of stock and buy during my first purchase within my birthday month.

4) Handbangs/ sandals: during my birthday month upon receive an email from the shopping mall on my special birthday gifts. Usually, they give a very good special offer. 

5) Books: fully utilize the RM 1000 entitlement for tax exemption in a year.

6) Clothes: I give myself a condition whereby my clothes cannot be more than three wardrobes in my house. If I wish to buy a new one, I must make sure I have choose any old clothes that is still in good condition to be given to the needy. 

Have a nice day :)

Wassalam

Earning Demarcation

Assalamua'laikum wbt & Good Day,

Time seems to fly so fast nowadays. We are reaching the end of 2015. As far as I concern, the most important target for myself this year is to reach my financial target. Alhamdulillah, it's unlocked :)

I have to say that wealth management is something serious and necessary to be learned as I can see many of my closest acquaintances are being trapped under rat race. Not only acquaintances, my family and relatives are also part of the rat race victims. Why it is so important to really conscious about our own financial?

Hot Air Balloon, Goreme, Cappadocia.

My post won't be too academics to discuss on this matter based on professional research. I just want to bring all the readers to reflect back based on our daily observation on the way we are being raised up and taught. We were advised to be excellent in academics, went to the top universities in the world, secured a good job and finally earned a good salary. And all of this will be equaled to happiness!

Do you think that is the right thing to do?

Well, I leave it for you to think. Being traveled across 9 countries without piggy riding any business or company related purposes have changed my view about things that matter the most in our temporary life in this world. Yes, without securing a good pay job, it is quite impossible for me to do this. Securing a good pay job is kind of important nowadays, but working solely for the sake of money is totally a major mistake.

While performing our job as required by the company that hired us, keep on equipping ourselves on wealth management knowledge is ultimately important. If not, regardless how big our salary is, it will never been enough. I would like to thanks all the book authors that I've read on this matter, and I can simplify that one thing we must strive to achieve financially is that we are always at the position whereby we have nothing to loose; in the event of anything happen to our employer or company.

Evening ATV Ride, Goreme, Cappadocia

As a beginning, I would love to share the simple basic to divide our salary but of course, it is depends on you either to put it into practice or not. I always believe that different people will always have different priorities.

1. Minimum 10 % from our net salary (after SOCSO/ EPF/ TAX/ ZAKAT deduction) must go to our own saving. It is highly recommended to utilize any methods or facilities given by our company to do the auto-deduction for our saving.

2. Maximum 40% is for our mortgage. If we are to rent the house, make sure it does not reach 10% of our net salary and hence the remaining 30% goes to our saving. The reason why I put 40% for mortgage is to allow us to maintain our daily lifestyle. After we put so much sweat in gaining the money, of course we do want to spend it as part of self-rewards on top of to pay all the bills right?

3. Minimum 5% must go to distribution. Regardless what religion that you believe in, giving and helping those in needs is basically important. It is a huge liability if we just strive for richer life in this world but never invest for the benefits of our hereafter. Of course if we can distribute more than 5% of our earning, it will be much better. But remember, we must sincere in order to please Allah swt or our Lord :)

4. The remaining 45% is for our life sustainability. It includes the bills, foods, groceries, car maintenance, house maintenance, self-care, takaful or insurance and of course, do not forget our parents :)

After all, all the best in achieving our financial target. Remember, we must strive to put ourselves in a situation whereby we have nothing to loose.

Avoid bed debts, spend some times to equip ourselves with wealth management knowledge and do help the needy. We will never go poor by giving. 

Have a nice day :)

Wassalam.

Intuitions: How Reliable It Is?

Assalamua'laikum wbt & Good Day,

Whenever I do any online personality test online, the results always portrayed that I am intuitive kind of person. There are few times I did follow my intuitions and thanks Allah, it is for the sake of goodness.

It's happened when I just scrolling down Mudah apps just to search for any good sub-sale prospect when I finally become a friend to one of housing agents. I just told him to notify me whenever there's sub-sale house that meet my budget requirements and yes, he did!

When I first come to check that house, it is such an overwhelming feeling seeing how tidy the house is although in the eyes of others, that kind of house should not be bought by someone like me. And again, I would like to thanks Allah for giving me such awareness to be a totally frugal lady, on top of the hunger to gain more knowledge regarding wealth management and creation for the betterment of ummah.

Deal accepted and agreed. Then I started to calculate my DSR if I didn't let go the house that I've bought as early as during my 11th month of working. It is more than 50%, and it indirectly means that I have to choose either one. After thinking in the pros and cons, I chose to let go my first house as it is quite big as well for someone who haven't think of having her own family yet (at that moment).

Oh, I have came across different story! Forgive me. Back to intuitions thingy, I chose that sub-sale house because my neighbor will be housewives as well! And on top if that, one of my closest neighbors is Mirian too :)

I just figured out that thing after I agreed to buy that house. Alhamdulillah, although both of my neighbors are not yet Muslims, they are as kind and as good as practicing Muslims.

I am one of AirBnb hosts! Feel free to stay with me :)
Open to ladies only. 

I have a worst herpetophobia. I remember there is one night I helplessly called her and she was too worry when hear my voice. But upon knowing that the issue was due to existence of lizard at my wet kitchen, she laughed. But one touching thing about her is she offered me to install a lizard trapper at my house and she will help me to throw the trapped lizards! But, I somehow rejected the offer. Seeing a lizard is total nightmare. I preferred to use preventive spray to solve the issue.

The lesson learnt here is never deny the power of intuitions. Most of the times, our heart didn't lie. Just follow our heart whenever we are in great doubt, but never skip Istikharah prayer. Do make Istikharah Prayer as part of our daily routine.

Have a nice day :)

Wassalam.