Tips To Keep Save Your Money From Yourself

Tips for How To Keep Your Money Safe From Yourself

Some people recognize that their biggest obstacle to saving money each month is themselves. If you think that this is part of the reason why you can’t seem to save any money, here are some strategies and tips to try out to keep your money safe from yourself. 

•  Have your bank remove access to your savings account from your bank card and your online banking. 
• If you have to go into the bank to get the money out, you will be far less likely to spend it. Going into the bank to make a withdrawal will give you more time to think about a purchase before you go ahead with it. 
• If you live with a partner, and your partner is clearly a better saver than you are, consider giving your partner control of your savings. 
• This will make it harder for you to spend your money. 
• Invest your money in an investment or with a company that you have to contact and request a withdrawal from. 
• It will usually take a number of days to get your money out of an investment company like this. That will give you extra time to think about your decision to spend this money. If by the time you get the money out, you decide that you shouldn’t spend the money, send it back. When you withdraw money from investments like this, your investment advisor or investment representative might ask you why you are withdrawing the money, this might create another barrier to keep your money safe from your impulses. Some common investments that require you to ask someone to take your money out include term deposits, mutual funds, etc

8 Simple Ways To Save Money

8 Simple Ways to Save Money

Sometimes the hardest thing about saving money is just getting started. This step-by-step guide for how to save money can help you develop a simple and realistic strategy, so you can save for all your short- and long-term savings goals. 

 1 Record your expenses 

• The first step to start saving money is to figure out how much you spend. Keep track of all your expenses—that means every coffee, household item and cash tip. 
•  Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Use your credit card and bank statements to make sure you’re accurate—and don’t forget any. 
•  Tip: Look for a free spending tracker to help you get started. Choosing a digital program or app can help automate some of this work. 

 2 Budget for savings 

• Once you have an idea of what you spend in a month, you can begin to organize your recorded expenses into a workable budget. 
• Your budget should outline how your expenses measure up to your income—so you can plan your spending and limit overspending. Be sure to factor in expenses that occur regularly but not every month, such as car maintenance. 
•  Tip: Include a savings category—aim to save 10 to 15 percent of your income. 

 3 Find ways you can cut your spending 

• If your expenses are so high that you can’t save as much as you’d like, it might be time to cut back. Identify nonessentials that you can spend less on, such as entertainment and dining out. Look for ways to save on your fixed monthly expenses like television and your cell phone, too. 
• Here are some ideas for trimming everyday expenses: 
• Use resources such as community event listings to find free or low-cost events to reduce entertainment spending. 
• Cancel subscriptions and memberships you don’t use—especially if they renew automatically. 
• Commit to eating out only once a month and trying places that fall into the “cheap eats” category. 
• Give yourself a “cooling off period”: When tempted by a nonessential purchase, wait a few days. 
• You may be glad you passed—or ready to save up for it. 

4 Set savings goals 

• One of the best ways to save money is to set a goal. 
• Start by thinking of what you might want to save for—perhaps you’re getting married, planning a vacation or saving for retirement. Then figure out how much money you’ll need and how long it might take you to save it. 
• Here are some examples of short- and long-term goals: 
•  Short-term (1–3 years) 
• Emergency fund (3–9 months of living expenses, just in case) 
• Vacation 
• Down payment for a car 
•  Long-term (4+ years) 
• Down payment on a home or a remodeling project
• Your child’s education
•  Retirement 
• If you’re saving for retirement or your child’s education, consider putting that money into an investment account such as an IRA or 529 plan. 
• While investments come with risks and can lose money, they also create the opportunity for growth when the market grows, and could be appropriate if you plan for an event far in advance. 
•  Tip: Set a small, achievable short-term goal for something fun and big enough that you aren’t likely to have the cash on hand to pay for it, such as a new smartphone or holiday gifts. Reaching smaller goals—and enjoying the fun reward you’ve saved for—can give you a psychological boost that makes the payoff of saving more immediate and reinforces the habit. 

 5 Decide on your priorities 

• After your expenses and income, your goals are likely to have the biggest impact on how you allocate your savings. 
• Be sure to remember long-term goals—it’s important that planning for retirement doesn’t take a back seat to shorter-term needs. 
•  Tip: Learn how to prioritize your savings goals so you have a clear idea of where to start saving. For example, if you know you’re going to need to replace your car in the near future, you could start putting money away for one now. 

6 Pick the right tools 

• If you’re saving for short-term goals, consider using these FDIC-insured deposit accounts: Savings account Certificate of deposit (CD), which locks in your money for a fixed period of time at a rate that is typically higher than savings accounts 
• For long-term goals consider: FDIC-insured individual retirement accounts (IRAs), which are tax-efficient savings accounts Securities, such as stocks or mutual funds. 
• These investment products are available through investment accounts with a broker-dealer. Remember that securities are not insured by the FDIC, are not deposits or other obligations of a bank and are not guaranteed by a bank. They are subject to investment risks, including the possible loss of your principal. 
• Tip: You don’t have to pick just one account. Look carefully at all of your options and consider things like balance minimums, fees and interest rates so you can choose the mix that will help you best save for your goals. 

 7 Make saving automatic 

• Almost all banks offer automated transfers between your checking and savings accounts. You can choose when, how much and where to transfer money or even split your direct deposit so a portion of every paycheck goes directly into your savings account. 
•  Tip: Splitting your direct deposit and setting up automated transfers are simple ways to save money since you don’t have to think about it, and it generally reduces the temptation to spend the money instead.  

 8 Watch your savings grow 

• Review your budget and check your progress every month. Not only will this help you stick to your personal savings plan, but it also helps you identify and fix problems quickly. Understanding how to save money may even inspire you to find more ways to save and hit your goals faster.

Simpanan Emas

Simpanan Emas

baru-baru ni, Mr Ted ada la cakap pasal simpanan emas..

ekceli.. dah lama dah sebenarnya nak beli emas ni..

ye laa... duit semakin lama semakin susut nilai...

RM 50 .. 10 tahun dahulu.. mcm2 boleh dapat..

sekarang... RM 50 sekejap je hilang.. barang kdg2 xnampak.. 

so.. i was thinking... need to have simpanan emas.. 

and in my mind is emas fizikal la..

mana tahu sesak... boleh jugak digunapakai.. 

so.. kali nie kita nak bincangkan soal simpanan emas. 

HARGA

bila bercakap soal harga..

memang untuk nilai emas... harga dia memang sedikit tinggi..

ikut harga semasa.. sekarang dalam RM 238/gram 

sekali dengar memang menggigil nak beli..

tapi.. kalau x beli sekarang.. nanti harga dia naik lagi...

risauuuuuuuu... makin x beli beli. 

berbanding dengan saving biasa... kalau dekat bank.. serendah RM 1 saving dia. kan..

sama la juga dengan ASB & Tabung Haji..

nilai rendah... mostly letak saving kat sana.. 

NILAI

kalau bercakap soal nilai..

rata rata pon tahu... nilai emas lebih bermakna /besar dari nilai ringgit. 

kalau buat simpanan ringgit.. sekejap je habis..

kalau buat simpanan emas... punya banyak proses sikit.. 

tapi.. for saving.. ok la.. berbaloiii la jugak kann.. 

cuma.. dalam saving emas nie... dia xde dividen...

jadinya.. kalau simpan sekali pon... xkan bertambah nilai tu dalam bentuk dividen seperti bank bank lain.. 

tapi.. emas pulak fokus kepada nilai emas semasa..

kalau masa beli.. nilai dia RM 200/gram... 

dan masa nak jual harga dia.. RM 400/gram. 

ade keuntungan RM 200 per gram kat situ.. 

EMAS BANK VS EMAS FIZIKAL

sekarang banyak juga bank yang dah buat saving emas ni..

cuma.. ade 2 jenis saving emas.. 

1. emas bank (non-fizikal) 

trade berdasarkan harga emas...

tapi.. bank tiada fizikal emas untuk diberi kepada kita..

ia akan beri pulangan dari bentuk wang. 

2. emas bank with fizikal 

simpanan emas melalui bank..

apabila dah cukup saving dengan nilai genap kepada syarat minimum gram yang boleh dikeluarkan..

(rata-rata bank amik 10gram minimum) 

kita boleh tukar kepada emas fizikal..

atau kita boleh simpan lagi... dan tukar dalam nilai gram yang lebih besar..

so.. kita cenderung yang mana..

kita pilihhh.. 

cuma harus diingat..pelaburan emas bukan pelaburan jangka masa pendek.

ia ambil masa.... 

so.. kalau boleh.. ada saving biasa..

kemudian bila ada lebihan.. buatlah saving emas.. 

Financial Plan

Financial Plan

What is financial planning? 

• Financial planning is an ongoing process that will reduce your stress about money, support your current needs and help you build a nest egg for your long-term goals, like retirement. 
• Financial planning is important because it allows you to make the most of your assets, and helps ensure you meet your future goals. 
•  Financial planning isn't just for the wealthy: Creating a roadmap for your financial future is for everyone. 
• You can make a financial plan yourself, or you can get help from a financial planning professional. Due to online services like robo-advisors, getting assistance with financial planning is more affordable and accessible than ever.

Financial Planning Steps : 

1. Start by setting financial goals 

• A good financial plan is guided by your financial goals. 
• If you approach your financial planning from the standpoint of what your money can do for you — whether that's buying a house or helping you retire early — you'll make saving feel more intentional. 
•  Make your financial goals inspirational — what do you want your life to look like in five years? What about in 10 and 20 years? Do you want to own a car, or a house? Are kids in the picture? How do you imagine your life in retirement? 
• You start with goals because they will inspire you to complete the next steps and provide a guiding light as you work to make those aims a reality. 
• Financial goals planner 
• Wondering where to save or invest for your goals? 
• Financial goals planning tool will help guide you toward the right accounts, based on your goal, time horizon and other factors.

2. Track your money, and redirect it toward your goals

• Get a sense of your monthly cash flow — what’s coming in and what’s going out. 
• An accurate picture is key to creating a financial plan, and can reveal ways to direct more to savings or debt pay-down. 
• Seeing where your money goes can help you develop immediate, medium-term and long-term plans. 
• Developing a budget is a typical immediate plan. 
• NerdWallet recommends the 50/30/20 budget principles: 
• Put 50% of your take-home pay toward needs (housing, utilities, transportation and other recurring payments), 
• 30% toward wants (dining out, clothing, entertainment) and 
• 20% toward savings and debt repayment. 
• Reducing credit card or other high-interest debt is a common medium-term plan, and planning for retirement is a typical long-term plan.

3. Make sure emergencies don’t become disasters 

• The bedrock of any financial plan is putting cash away for emergency expenses. 
• You can start small — $500 is enough to cover small emergencies and repairs so that an unexpected bill doesn’t run up credit card debt. Your next goal could be $1,000, then one month’s basic living expenses, and so on. 
• Building credit is another way to shock-proof your budget. Good credit gives you options when you need them, like the ability to get a decent rate on a car loan. It can also boost your budget by getting you cheaper rates on insurance and letting you skip utility deposits.

4. Tackle high-interest debt 

• A crucial step in any financial plan: 
• Pay down “toxic” high-interest debt, such as credit card balances, payday loans, title loans and rent-to-own payments. 
• Interest rates on some of these may be so high that you end up repaying two or three times what you borrowed. 
• If you’re struggling with revolving debt, a debt consolidation loan or debt management plan may help you wrap several expenses into one monthly bill at a lower interest rate.

5. Invest to build your savings 

• Investing sounds like something for rich people or for when you’re established in your career and family life. It’s not. Investing can be as simple as putting money in EPF and as frictionless as opening a brokerage account (many have no minimum to get started).

6. Build a moat to protect and grow your financial well-being 

• With each of these steps, you're building a moat to protect yourself and your family from financial setbacks. 
• As your career progresses, continue to improve your financial moat by: 
•  Increasing contributions to your retirement accounts. 
•  Padding your emergency fund until you have three to six months of essential living expenses. 
•  Using insurance to protect your financial stability, so a car crash or illness doesn’t derail you. 
• Life insurance protects loved ones who depend on your income. Term life insurance, covering 10-year to 30-year periods, is a good fit for most people’s needs.

A financial plan isn’t a static document — it's a tool to track your progress, and one you should adjust as your life evolves. It's helpful to reevaluate your financial plan after major life milestones, like getting married, starting a new job, having a child or losing a loved one.