21 Malaysia-Based Personal Finance Instagrammers You Should Follow

Nowadays, I notice there are
more personal finance websites and blogs around
. My grand scheme to get more Malaysian talk openly about money is working muahahahah!

(okay I cannot take all the credit but some la okay some)

(I’m not perasan they told me one)

You know where else money discussions are spilling over, aside from websites and blogs?
Instagram
. Yes, Instagram, the platform you log on to get jealous over other people’s perfect-looking lives (I’m not wrong).

So you can imagine how pleasantly surprised I was by the emergence this new trend, of Malaysians sharing about personal finance in their Instagram accounts (instead of the usual food, fashion, beauty, travel, etc). I love following them, and find them therapeutic – as I scroll down my feed, my bouts of envy is naturalised by money quotes and reminders to not spend money!

Here are
14
 21 personal finance Instagram accounts that Malaysians should follow. This list is in no particular order.

EDIT: If you are a personal finance Instagrammer, and you’re not listed in this article, please drop a comment with a link to your profile 🙂

#1 –
debtfreemy

What to expect in the feed:

View this post on Instagram

Sep/Oct monthly budget； 💗 Pink colour is my sinking funds 💚 Green colour is my expenses ⚠ I have RM1,600 in BigPay card balance from the China trip. I will use it to support my monthly expenses. —————————————————— #debtfreeMY #debtfreeMalaysia #debtfreecommunity #debtfreegoals #monthlybudget

A post shared by
 debtfreeMY
 (@debtfreemy) on
Sep 25, 2018 at 12:00am PDT

View this post on Instagram

Good month thanks to the China trip money balance. Breakdown source of my money • RM665 (China trip balance in cash form) + RM2370 (September pay) • —————————————————— #debtfreeMY #debtfreeMalaysia #debtfreecommunity #debtfreegoals #babystep2

A post shared by
 debtfreeMY
 (@debtfreemy) on
Sep 25, 2018 at 12:13am PDT

#2 –
debtfreemalaysia

What to expect in the feed:

View this post on Instagram

My October’s Target. Where I want myself to achieve at the end of this month. #DebtFree #DebtFreeCommunity #DebtFreeMalaysia #BebasHutang

A post shared by
 DebtFree
 (@debtfreemalaysia) on
Oct 5, 2018 at 8:52am PDT

View this post on Instagram

SHOULD STOP EATING OUT. =======================. I have make some mistake today. Not excuse for that and should stop doing this frequently. . As we on tight budget this month, we have decided to minimize eat out as this could save us a lot. . But today, I just have lunch and it cost me around 6. Later, I having a late night coffee with my friend. And it cost me 10.

A post shared by
 DebtFree
 (@debtfreemalaysia) on
Sep 30, 2018 at 9:18am PDT

#3 –
budgetbabe.my

What to expect in the feed:

View this post on Instagram

PAID RM292.05 TO MY PERSONAL LOAN. . . I am quitting my job this month. So it’s quite tricky and tough and blurry for me on my financial. Especially for settling my debt and paying my takaful. It’s compulsory for me (to have #takaful or #insurance) . . I just hope that luck will be on my side. . . #debtfreecommunity #debtfreejourney #debtfreemalaysia #debtfreelifestyle

A post shared by @
 budgetbabe.my
 on
Sep 25, 2018 at 10:31pm PDT

View this post on Instagram

Now wtv money i have in my bank, i’ll directly trf to my personal loan debt. . Kais pagi makan pagi je skrg. But it’s ok. . . #debtfreejourney #debtfreecommunity

A post shared by @
 budgetbabe.my
 on
Aug 31, 2018 at 6:52pm PDT

#4 –
makeover.life.debt

What to expect in the feed:

View this post on Instagram

October’s Groceries (wet food only)

A post shared by
 Debt Free NNR
 (@makeover.life.debt) on
Oct 7, 2018 at 2:30am PDT

View this post on Instagram

Finally.. Finally I prepared a budget for September. By all means this will be the only money I will spend and the rest of my income will all go to my debt. I bought groceries for the whole month which I hope will last till October. Dear God,have some mercy on me. I spent the last 3 days of long weekend having migraine which also means I don’t go out and I spent none. Boo for migrain but yeay for not spending any penny. #debtfreejourney #debtfreecommunity #debtfreemalaysia

A post shared by
 Debt Free NNR
 (@makeover.life.debt) on
Sep 3, 2018 at 1:13am PDT

#5 –
savvysaz

What to expect in the feed:

View this post on Instagram

3 months later. Paid RM5,030.85 (4.3%). Stick to the goal, no more new loan. EF currently RM4k, SF RM1200. A gentle reminder to self, I am on my way to financial freedom. Sooner or later, I will be there. 🙏💪 #debtfreecommunity #debtfreemalaysia #debtfreesabah #debtfreejourney #financialfreedom #budgeting

A post shared by
 budget.pay.debt.save.
 (@savvysaz) on
Mar 4, 2019 at 4:48pm PST

View this post on Instagram

My last home cooked lunch for September before taking leave for the family trip tomorrow. I was very sleepy this morning and almost gave up to cook but the reminder of #zerowaste did me a favor. Not only that I need to cook everything I have bought so my budget is intact, the thought of my MIL could not stand the wastage food inside the fridge also help a lot. Lol #debtfreecommunity #debtfreemalaysia #budget #homecooked #financialfreedom

A post shared by
 budget.pay.debt.save.
 (@savvysaz) on
Sep 25, 2018 at 9:34pm PDT

#6 –
dearduit

What to expect in the feed:

View this post on Instagram

The one thing that I’m very grateful for in Malaysia is the cheap rates of medical health care the government hospitals offer. Cause if in private at least RM50 tops just for a consult. #healthcare #checkup #malaysianonabudget #kementeriankesihatanmalaysia #brokemalaysian #budgetmalaysian #budgetmom

A post shared by
 Dear Duit
 (@dearduit) on
Oct 11, 2018 at 5:13pm PDT

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No spend October but with a few adjustment. 🌼Only during work days Monday to Friday So far doing well🤔 Brought my own food and drinks. Snacks! I always waste money on snacks! 7eleven is just below my office and so tempting to purchase! So not stepping in 7e unless desperate. last week I only spend 3 out of 5 days. This week let us see😁 #nospendoctober #budgetlife #brokelife #brokemalaysian #budgetmalaysian #financialplanning #debtfreejourney #brokemom

A post shared by
 Dear Duit
 (@dearduit) on
Oct 10, 2018 at 6:38pm PDT

#7 –
mimirello

(yep, the same blogger behind
Mimirello.com
 website!)

What to expect in the feed:

View this post on Instagram

#cheapdish of the day. Homemade Nasi Goreng. Ingredients: Leftover Rice, Ikan Bilis, Onion, Garlic, 1 Small Tomato, Chives & Egg. Basically whatever random thing in the fridge. Less than 30mins to cook and less than RM2 per meal (with the right ingredients).

A post shared by
 Mimirello
 (@mimirello) on
Oct 9, 2018 at 7:56am PDT

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New Post up! It’s time for a new goal – saving up for a property. Das scary. Read more at mimirello.com . #property #owningahome #personalfinance #saving

A post shared by
 Mimirello
 (@mimirello) on
Oct 8, 2018 at 2:44am PDT

#8 –
dividendmagic

(yep, the same blogger behind
DividendMagic website
!)

What to expect in the feed:

View this post on Instagram

Freedom Fund as at September 2018 Dividend Income (September): RM1,799.63 Dividend Income (2018): RM14,554.34 Dividend Yield: 3.96% Check out my FB page: Dividend Magic

A post shared by
 Dividend Magic
 (@dividendmagic) on
Oct 8, 2018 at 7:38pm PDT

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3Q UPDATE: Freedom Fund as at September 2018 Gross Investment: RM367,168.13 Market Value: RM453,205.61 Dividends (2018): RM14,554.34 Dividend Yield: 3.96% We’re almost touching the 4% dividend yield mark just as we hit the 3rd quarter. http://dividendmagic.com.my/portfolio-freedom-fund/

A post shared by
 Dividend Magic
 (@dividendmagic) on
Sep 29, 2018 at 8:54pm PDT

#9 –
blackbeltmillionaire

(yep, the same blogger behind
Blackbelt Millionaire website
!)

What to expect in the feed:

View this post on Instagram

Remember Grasshoppa. Work Hard & Work Smart. . . . #workhardplayhard #workhard #qotd #motivationalquotes #motivation #success #blackbelt #blackbeltmillionaire #millionaire

A post shared by
 Black Belt Millionaire
 (@blackbeltmillionaire) on
Jun 16, 2018 at 11:10pm PDT

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It’s not about what’s on the outside but it’s about what’s on the inside. Dont spend on what you can afford but spend on what you can afford & save for your retirement. . . #blackbeltmillionaire #millionaire #blackbelt #money #savings #rich #wealth #investment

A post shared by
 Black Belt Millionaire
 (@blackbeltmillionaire) on
Mar 28, 2018 at 12:04am PDT

#10 –
financial_friday

*not technically Malaysian, but used to study/work in Malaysia, so close enough (she’s from the Mauritius)

What to expect in the feed:

View this post on Instagram

I was an international student in Malaysia and I was constantly on the move: from campus accommodation to cheaper and cheaper rented rooms. . . I wanted to get the most out of my small allowance and soon, I was not only moving to smaller rooms, but I was letting go of a lot of stuff. And yet, the more I stayed in this new country, the happier I was. . . Now that I’m back home, in Mauritius, I realised I didn’t need a lot of things. And I realised that a fancy high-maintenance lifestyle will not make me happy. . . That’s why I wanna share this list, which follows my journey in #intentionalspending and #intentionalliving . . And you? What are the material things you realised you could live without, even despite what others would say? Comment below! . . If you want to read more about the ‘why’ and ‘how’ and back stories of all the items I chose, read it on my blog via the link in my personal account —-> @dkwaye . . . #FinancialFriday #personalfinance #minimalism #minimalist #lessismore #bemorewithless #minimalistlife #spendinghabits #spendless #debtfreeliving #howtosavemoney #savemoney #savingmoney #financialfreedom #moneytips #simpleliving #financialplanning #financialindependence #financialadvice #moneysavingtips #moneyadvice #simplelife

A post shared by
 It’s #FinancialFriday!
 (@financial_friday) on
Oct 9, 2018 at 6:48am PDT

View this post on Instagram

Happy Monday guys! Yesterday, I was going through my old #budget notebooks. I used to get those cute #pocketnotebooks which come with blank no-line pages and would list down: . • all my expenses of day every evening before going to bed, • the exact amount I had in my bank accounts at the end of each month and how much I had in cash at the time of writing, • my #savingsgoals – basically how much I planned to put aside for #savings for the month, • my income of course! . It was a tedious handwritten process, but it was so satisfying, seeing my small savings grow and I got to have 100% control my spending 😊 . . Notebooks from @mosseryco . . . #financialfriday #budgeting #budgetingtips #personalfinance #financetips #savemoney #savingmoney #savingsplan #financialplanning #adulting101 #cutestationery #financialgoals #finances #debtfreeliving #financialliteracy #financialadvice #moneysavingtips #disciplineequalsfreedom #budgetplanner #budgetlife #budgetfriendly

A post shared by
 It’s #FinancialFriday!
 (@financial_friday) on
Oct 8, 2018 at 6:49am PDT

#12 –
debtfreesabah

What to expect in the feed:

View this post on Instagram

Happy Sunday guys! Im trying to be more transparent now after considering an advice from a good friend that i get to know thru this journey. As u guys can see, my total debt almost 70k in ringgit. This amount already include the money that i lend from my family. Hopefully i can make this amount down to 50k at the end of this year. Finger crossed! #debtfreesabah #debtfreemalaysia Ps: stop using hastagdebtfree, MLM’s people to trick other.

A post shared by
 debtfreesabah
 (@debtfreesabah) on
Aug 26, 2018 at 12:11am PDT

View this post on Instagram

Thanks god! I just got my bonus which is doesnt stay long with me because 85% of it goes to car installement. I also got to open a new account, purposely to pay the car’s loan so I doesnt have to visit thw bank everytime I want to pay the loan. Having account with the bank give me the access to see my loan and.. now I can see the actual $$$ that I have to pay. #debtfreejourney

A post shared by
 debtfreesabah
 (@debtfreesabah) on
Feb 14, 2018 at 2:42am PST

#13 –
femmefinance.my

What to expect in the feed:

View this post on Instagram

Part 3 of 2019 goals – Investment . 2018 was a terrible year for stocks. My portfolio plunged into a deep sea of red. . For 2019, I’ll take a more conservative approach. . I’ll focus on growing my SG REITS portfolio for its better than average yield and lower volatility. Having said that, I’ll still need to monitor my REITS closely after a booboo with APTT. This REIT took a nosedive and it’ll be a long time before it recovers. 😪 . I’ve been wanting to invest in Public Bank since 2006, but there was never a right price. 13 years later, the price keeps increasing! No more buckling down this time! . If there are other cheaper blue chip stock alternatives, I’m open to hear your suggestions. . I’ve started investing in gold this year as part of my diversification plan. I put in a small amount not more than RM100 a month. . I’m using Hello Gold app. It’s very easy to use, but there are minimal monthly administrative fees. . If you’re interested to sign up, you can use my referral code: “ANGL0EO6” Or, use this link: https://referral.hellogold.com/?ref=ANGL0EO6 . You and I will get RM5 rebate in gold. Win-win! . I’ve invested in 3 P2P Lending platforms. I plan to slowly consolidate it to 2. Will share my experience on this later. . After leaving a steady job, I now have to manage my cashflow with more scrutiny to stay afloat. Too many commitments to juggle. . I used to put my artwork for sale on Printcious. Gains (not much) from purchases made on merchandise with my artwork help fund my personal CSR agenda to give back to society. . This platform is full of talented artists, and competition is huge! I found this to be challenging and not the best way to raise funds for charity. Also, I stopped making art 2 years ago due to lack of time. . Hence, the need to look for other low risk investment alternatives (FD included) to help me contribute back to society. . I endeavour to be less emotional in cutting losses and nurse my portfolio back to health. . #personalfinancemalaysia #personalfinance #personalfinanceforwomen #financialliteracy #financialfreedom #financialgoals #2019goals #moneygoals #investmentgoals #p2plending #hellogold #bluechips #passiveincome

A post shared by
 Femme Finance Malaysia
 (@femmefinance.my) on
Mar 28, 2019 at 3:34am PDT

View this post on Instagram

Hello everyone. 🙋🏻♀ . I’ve taken a hiatus in writing since 2010. Today, I’ll start afresh. . I’ve been procrastinating too long and decided to take action documenting my personal finance journey. . It has been tough navigating the ropes of marriage, a switch in career, and getting my health on track. . I’ve taken a huge leap of faith by switching career, from a stable but highly stressed corporate job to an unstable and highly stressful entrepreneurial adventure. . When I start from Ground Zero, the only way is upwards and onwards. . I’m grateful for the support I have from my better half in my journey towards a better life together. . Join me on my journey and hopefully we can learn from each other. . Update: … things that *spark joy*… the grammar police in me caught my own typo! The horror!!! 😱 . #personalfinance #personalfinancemalaysia #personalfinanceforwomen #financialliteracy #financialfreedom #financialgoals #womeninfinance #workfromhome

A post shared by
 Femme Finance Malaysia
 (@femmefinance.my) on
Mar 24, 2019 at 6:00pm PDT

#14 –
roostergold

What to expect in the feed:

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[Silver] The #AmericanSilverEagles have landed. x6 (Year 2013) 1 Oz coins in total at RM82.50 @ USD20.40 each. They are quite beautiful & quite possibly the most easily recognised silver coins in the world. Note: Only buy from trusted sellers or make sure you can verify the authenticity of silver/gold products yourself as there are many fakes & scams out there. #GoldStacking #GoldStacker #SilverStacking #SilverStacker #SilverCoins #PAMPgold #PAMPsilver #PAMPlunar #PAMPSuisse #PAMPbar #GoldBar #AwesomeAurum #HuatAh #RoosterGold #Perak999 #Emas9999

A post shared by
 Rooster Gold
 (@roostergold) on
Mar 31, 2019 at 9:01am PDT

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[ETF StashAway] 2019 WEEK 13 Period ending 29-Mar-2019 ETF Capital = RM10,000.00 NAV = RM10,575.75 Total Returns = +5.8% NOTE: Seeing dividend distributions from two Vanguard funds. To achieve the financial projections in the next 5 years, total returns have to be +112.9% @ simple average of +22.5% p.a. It looks like projections are adjusted daily based on current Total Returns. DISCLAIMER: ETFs & Index Funds are generally long term plays i.e. over years & decades. NOT advisable to invest if one is not planning to hold for the medium to long term. #ETF #ETFmalaysia #IndexFunds #IndexFundsMalaysia #StashAway #FreedomFund #FreedomFundUS #RoosterGold #RoboAdvisory #RoboInvesting #FinanciallyFree #FinancialFreedom #DebtFreeMalaysia #🇲🇾

A post shared by
 Rooster Gold
 (@roostergold) on
Mar 29, 2019 at 8:04pm PDT

#15 – suztainably

What to expect in the feed:

View this post on Instagram

Dinner for 2. Chinese Fried Rice (RM6) and Baby Kailan (RM 4.50). Eating at home is so cheap. I have to say the fried rice taste so goooddd. Thanks to @spicenpans for the recipe! My favourite cooking channel. #cookathome

A post shared by
 S U Z
 (@suztainably) on
Mar 23, 2019 at 9:07am PDT

View this post on Instagram

It’s a public holiday today and I spent the morning in the small town of Dengkil near my place with a therapeutic breakfast and grocery shopping. I brought my bags and reused whatever plastic bags i have in my pantry to pack smaller loose groceries. The only additional plastic i have incurred is for the prepackaged corriander seeds. They are hard to reuse and will go into my ecobrick. I feel this is a better choice than travelling kilometers out of my way to get unpackaged corriander seeds. Walking around in the small town, I have also discovered a Chinese Herbal shop selling loose herbs and got myself some goji berries. So happy with this find! A nice surprise is also a small restaurant selling steamed buns which I am unprepared for and I got myself some steamed buns and red bean dessert. The downside of not being prepared is having to use their single used plastic bags. At this point of time, i no longer cringe or stress if I amassed any plastic. I made the intention to dispose them properly/reuse whichever more possible. Our decisions should bring us peace and I am fine with this minor imperfections. This i find is more sustainable for this change of habit. Also, I will be more prepared the next time I come around!!

A post shared by
 S U Z
 (@suztainably) on
May 28, 2018 at 9:06pm PDT

#16 –
my.moolah

What to expect in this feed:

View this post on Instagram

UPDATE: Renewal (for students) can only be done online and it takes 15-30 working days for approval. Yikes. Here’s to a month without 50% off on fares for my public transportation. 😭 I completely forgotten that my student concession card has an expiry date. Noticed my MRT one way fare was RM 1.80, instead of RM 0.80.. then realized it’s been 1 year since I had this card. Will be charged normal rate for another week or so till I get my confirmation letter and submit it. 💸 On a brighter note, online renewal is available, so I don’t have to go all the way to Pasar Seni. #debtfreemy #debtfreemalaysia #debtfreejourney #debtfreecommunity #debtfreegoals #debtfreelife #debtfree #financialfreedom #personalfinance #personalfinancemalaysia #frugal #frugalliving #budgettravel

A post shared by
 my.moolah
 (@my.moolah) on
Feb 28, 2019 at 12:54am PST

View this post on Instagram

Specific goals for the month of January 🤸 I’m currently on semester break till mid February and I plan to work almost everyday. I was thinking there’s no better time to to start on the no spend challenge that I recently discovered and the first four days are going well so far. My attempt at budgeting used to always last for a week and I’d give up, but I’m determined to track all my expenses this time around. As I’m not getting any younger, this year I really wanna focus on my health and start doing home workouts again. I need to read more too. #debtfreemy #debtfreemalaysia #debtfreejourney #debtfreecommunity #debtfreegoals #debtfreelife #debtfree #financialfreedom #personalfinance #personalfinancemalaysia #frugal #frugalliving #100abchallenge #goals #newyearsresolution

A post shared by
 my.moolah
 (@my.moolah) on
Jan 4, 2019 at 1:04am PST

#18 –

What to expect in this feed:

View this post on Instagram

New Post! Link in bio. Data is beautiful. 1. Last month I did a calculation for the ownership cost for my car out of boredom. (Not happy with the results). 2. This month is my second year owning it, I wrote a post about it with some beautiful data. (Still not happy with the results). . Cost of ownership for 2 years is RM24k (what?!) It’s supposedly an affordable car. . #PersonalFinance #PersonalFinanceMalaysia #DebtFree #DebtFreeMalaysia #FinancialFreedom #FinancialFreedomMalaysia #ToBecomeDebtFree #GettingRichSlowly #DebtFreeCommunityMalaysia #MoneyManagement #SmartFinance #AiryLilM #DividentIncome #RinggitSense #Belanjawanku #SlowAndSteady #LuckyBrat #SavingMoney #Step2 #Enlightened https://airylilm.wordpress.com/2019/04/03/k-is-two/

A post shared by
 Airy Lil’ M
 (@airylilm) on
Apr 3, 2019 at 8:21am PDT

View this post on Instagram

Hello Payday! Been following a zero-based budget since Aug 2017. Every ringgit and sen earned has a place. It’s divided into 6 categories. – Mortgage – Loan & Insurance (Car loan, Medical Card, MLTA) – Living (Daily expenses) – Investment (UT, Stocks) – Savings (Traveling, Emergency Fund) – Car (Gas, Monthly Parking) Most of the time I wasn’t able to stick with Living & Savings budget. The others are pretty much fixed. I hope that by updating my progress here it will help to motivates me to stick to my budget. · 1. March Overview [Yay] Was able to stick to my “Living” budget. Even after adding an unexpected expenses (dentist visit), it was within my budget. All goes to funding for my trip. Am seriously planning to shorten my Car Loan term (5 more years) but at the same time would like to grow my investment. I might have to divide and conquer on this. · [Nay] Since January I wasn’t able to put as much money for investment as I have budgeted for because I need to save for my Taipei trip. Next year I’ll plan better (financially) for my trips. Might have to spend a large chunk of my bonus for Strata title because I don’t want to touch my Emergency Fund. I only have 1k for my strata fund. I’m so glad it happens around bonus time and I do have a Emergency Fund for stuff like this but I was planning for it to happen in 2 – 3 years time, that’s why I only have 1k saved for it. · 2. April Budget For April, a large percentage of it goes to “Living” category for Taipei trip because I’m leaving on payday next month. Oh, no! Good news is salary will still be intact once I’m back! · #PersonalFinance #PersonalFinanceMalaysia #DebtFree #DebtFreeMalaysia #FinancialFreedom #FinancialFreedomMalaysia #ToBecomeDebtFree #GettingRichSlowly #DebtFreeCommunityMalaysia #MoneyManagement #SmartFinance #AiryLilM #DividentIncome #RinggitSense #Belanjawanku #SlowAndSteady

A post shared by
 Airy Lil’ M
 (@airylilm) on
Mar 25, 2019 at 7:15am PDT

#19 –
surayaror

Mine 😀

What to expect in the feed:

View this post on Instagram

Anyone else get really happy when it’s time to break open a new #notebook?? . I got a bunch of these Scripta Notes #journals during #bigbadwolfbooksale for RM12 each. They hold up really well for 7 months of heavy use, such a good buy 😍 . In the last notebook, I stuck stickers received from events. You can see #peatix, #wordpress, #projectgutenberg and #centrair there. I think I’ll continue this tradition 😊

A post shared by
 Suraya
 (@surayaror) on
Oct 11, 2018 at 6:00pm PDT

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#selfreminder, because my natural instinct is to #savemoney first before #hustlehard. The #savings from the former have a limit, but the #income potential from the latter is unlimited. . #personalfinanceMalaysia #entrepreneurmindset

A post shared by
 Suraya
 (@surayaror) on
Oct 11, 2018 at 10:07pm PDT

Special mentions!

Aside from the above, I also want to feature some people in the zero waste movement who are leading by example. They prioritise DIY culture, consuming less and buying local & natural. We can learn a lot from them, and save a bunch of money in the process, too!

#20 –
zerowastemy

What to expect in the feed:

View this post on Instagram

For my 200th post, I’m bringing you back to what I feel was my first “official” step to zero waste. My reusable coffee cup! What was your first step?

A post shared by
 Elena
 (@zerowastemy) on
Oct 16, 2018 at 3:35am PDT

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Current read: Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist, Kate Raworth. This should be essential reading for every economist, student, human. . . An excerpt: “Economic theory has long portrayed a “clean” environment as a luxury good affordable only for the well-off. … growth will (eventually) clean [the pollution] up. But there is no such law: ecological degradation is simply the result of degenerative industrial design. This century needs economic thinking that unleashes regenerative design in order to create a circular – not linear – economy, and to restore humans as full participants in Earth’s cyclical process of life.” . . We can no longer ignore the fact that economic “growth” led by our consumption and need (greed) for endless stuff (fashion trends, latest gadgets, dollar store knick knacks) has had a very negative impact on our planet. Scientists now warn of potential irreversible environmental damage affecting us, all of us, by 2030. Impacts include more severe droughts, heavier rains, coastal flooding, wildfires and heat waves. Will you take action to reject this insane model of a linear economy in favour of a more circular one? We can all do something small to ensure we still have a liveable planet in 2030, 2040, 2050. Take public transport instead of driving; shop local produce; refuse that straw, plastic bag, coffee cup and free gift; forget that sale – shop your best friend’s closet; eat less meat; start a compost. What will you do to reduce CO2?

A post shared by
 Elena
 (@zerowastemy) on
Oct 15, 2018 at 1:49am PDT

#21 –
iquitwaste

What to expect in the feed:

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I made a new simple face scrub: locally grown brown sugar, local raw honey from stingless bees, juice of keffir lime and ground ginger (both I got from the market). Use it once a day before going to bed. I don’t know if it removes make up cuz I don’t use make up 😊 My small way of reducing my impact: we all have limited emissions credits, by making my own product from a few natural locally sourced ingredients I have a sustainable alternative to a plastic-packaged, centrally manufactured with many dubious chemicals shipped in from different places, heavily packaged and shipped out finished product; which gives off waste in the form of toxic suds wastewater and plastic microbeads down the drain, and a plastic tube or bottle that probably will never get recycled and end up in the ocean. And let’s look at emissions: a commercial manufacturing facility consumes huge amounts of energy (industry is in the top 5 of largest emissions sources), and then logistics of shipping out finished products (transport is also in the top 5). Take back our individual emissions credits. By making and consuming things as close as possible to their natural state and locally sourced, we are giving the finger to big industries and putting ourselves and our planet over their profits 💚

A post shared by
 Smita Jairam
 (@iquitwaste) on
Oct 17, 2018 at 6:26am PDT

View this post on Instagram

It still bothers me when I see many urban Malaysians insisting on buying and consuming imported food, fruit and vegetables; especially in affluent cities. We are so uber-blessed to live in a land of abundance, fresh fruit and vegetables growing all year round: greens, gourds, tubers, roots, herbs, flowers, fruits, everything that is needed to nourish us. Imported fresh fruits and vegetables have to be air freighted and wrapped in layers of plastics to maintain their freshness when they reach their destination. All that plastic waste and emissions are contributing to Mama earth’s deterioration. The transport sector is one of the biggest emitters of greenhouse gases and what are they transporting: people, goods and food! It’s especially ridiculous because here in Malaysia we maintain our culture of regular farmer’s markets that happen in every city and every town. Kuala Lumpur has accessible morning and night markets in different suburbs. In East Malaysia, they are called tamu and are held regularly. On our road trip this past weekend, we stopped in many small towns and headed straight to the tamu to buy local goods, including food. We don’t need fancy “exotic” trendy superfood fruit and veg grown 15000km away. It’s not healthy for our bodies if it’s killing our planet. Photo by @dean1sm

A post shared by
 Smita Jairam
 (@iquitwaste) on
Oct 15, 2018 at 7:08pm PDT

Do you know of any other personal finance accounts in Malaysia we should follow?

Strictly curated by people, not brands or companies 😉 And must talk about personal finance in the majority of their posts.

If you know of any other Malaysians maintaining personal finance instagram accounts, share with us in the comments section!


25 Personal Finance Subreddits For You To Find ‘Your People’

Personal finance is so… so… BROAD, isn’t it? We come from all kinds of backgrounds and have all types of interests and go through all sorts of life circumstances. Looking for specific answers can be tough.

To make it more complicated, sometimes you don’t know what you don’t know – not even the search term for it. I have suggested Reddit as a resource page before, but the sheer amount of available information can be enough for some people to go, ‘nope’ and close off the tab.

That’s a shame, because one of the best ways to learn about personal finance is to
learn from the Reddit community
. The most useful information get the most upvotes – so you get to save time by reading only the best of the best as determined by those personal finance subreddit community members themselves.

Even though
r/PersonalFinance
 has a lot of members and contributors, I wouldn’t really recommend it and some other subs to Malaysians as many topics are specific for the US crowd. The
r/MalaysianPF
 community, on the other hand, would be great if it wasn’t, um, dead.

BUT. There are other personal finance subreddits that you can explore. They will help you save, spend, invest and manage your money better – for a variety of occasions. Here are 25 of them.

27707
 / Pixabay

Personal finance subreddits and what they’re for

r/BikeCommuting.
Tips for people who use bicycles as their primary mode of transportation. Great for those of you  contemplating buying a bicycle to get to work/school/shops and reduce transportation cost. Plenty of bicycle recommendations.
Link

r/BudgetFood, r/EatCheapAndHealthy, r/CheapMeals, r/MealPrepSunday, r/SlowCooking.
 Subs compiling recipes for meals that don’t cost a lot of money. Not much Asian meals, but helpful for food combination ideas. Combine with meal-prepping and bring food to work – cook in bulk to save money as well as time. The slow cooking sub uses slow cookers, but you can easily adjust for rice cookers, something most of us already have. Links:
 r/BudgetFood,
r/EatCheapAndHealthy
,
r/CheapMeals
,
r/MealPrepSunday
,
r/SlowCooking

r/BuyItForLife
. Recommendations for high-quality products. In the context of this sub, high-quality doesn’t mean they have to be expensive. The idea is to buy things that last a long time, so you save money and time looking for replacements. Ranges from clothes, tools, furniture and more. Many of the products are hard to find in Malaysia, but you get to learn what makes it good quality.
Link

r/DIY and r/SomethingIMade.
 A place where people post DIY projects and ideas, with slight humblebragging. It’s great to browse through if you like arts and crafts and/or handy with tools. Some people practice leatherwork, woodwork, metalwork and more, get really good at it, and turned it into a side business. Links:
 r/DIY
,
r/SomethingIMade

r/Entrepreneur
. LOVE this sub! A great mix of tips, inspirational posts, guides, business ideas, business growth ideas, and more. When I feel like I’m not growing my business, I visit here. It has never failed me yet.
Link

r/FinancialIndependence.
For people who want to get out of the rat race and get back the most precious thing – the control of their time. Great if you ever dream of early retirement (who hasn’t), and ready to make specific steps and yes, sacrifices towards it. They share strategies to achieve the lifestyle that you want.
Link

r/Flipping.
 Flipping is when people search for low-priced items (via clearances, thrift-shopping) with the intention to re-sell them for profit. An interesting way to generate side income for some people.
Link

r/Frugal
. Master sub for getting the most value for your money. Great resources and sharing by community members. Highly recommended.
Link

r/FrugalBeauty
. When you wanna look good but hate that some companies charge waaay too much for essentially a few cents’ worth of chemicals.
Link

r/Gardening, r/Hydroponics, r/Aquaponics
. The gardening sub is full of pictures of members’ gardens, ranging from full on farms to tiny balcony plants. Best for those with green thumbs. If you’re not as great, check out hydroponics (growing plants with water). Aquaponics is a system to grow plants and keep fish at the same time. Links:
 r/Gardening
,
r/Hydroponics
,
r/Aquaponics

r/Minimalism.
 Tips and ideas to reject consumerist culture and achieve the clutter-free life, which helps us to focus on more important things like our passions and loved ones.
Link

r/Shoestring, r/OneBag
and
 r/Backpacking
. Tips to travel on a very low budget, including where to go, flight hacks and much more. The Onebag community is interesting – they’re all about maximising things you bring on your travels so you never have to bring excess items ever again. Links:
r/Shoestring
,
r/OneBag
,
r/Backpacking

r/TinyHouses
. Part of the small house movement, where they view big houses as wasteful because it encourages unnecessary spending. It’s true – the more space you have, the more maintenance you have to do, the more furniture you have to buy and generally the more space you feel you need to fill.
Link

r/VanDwellers.
Because I romanticise this lifestyle, sigh. A sub for people who lives and travels in vans, cars and other types of automobiles. I like the idea of travelling to beautiful destinations and always having accommodation with me.
Link

r/Vegetarian.
 One of the best way to quickly cut back on spending is to cut back on meat. This sub makes it fun to try out new recipes. It’s also funny to see how white people get overly excited about tofu and tempeh.
Link

r/ZeroWaste.
 An environmentally-conscious sub that promotes buying in bulk and bringing own water bottle, among others. And they save money at the same time. It’s amazing how little trash some of them generate. I must learn more from this subreddit.
Link

Tips to make the best of these personal finance subreddits

Step 1:
 Don’t worry about reading ALL of them. Let your own interests guide you. Pick a sub that sounds the most interesting, then click on the link.

Step 2:
 You’re automatically in the ‘Hot’ section in the subreddits. That means there are some conversations going on at the time. Browse through.

Step 3:
 If you want to read the top posts of the sub, which I highly recommend, click on ‘Top’. A good place to start if you just want to read the best parts.

Step 4:
 Rinse and repeat for the other subs you find interesting. I can almost guarantee you’ll learn something new in each of them.

(optional)

Step 5:
 Make a Reddit account. Now you can also upvote, make new post and reply comments

Step 6:
 Help contribute your own personal experiences to
r/MalaysianPF
 and make it less dead.

Conclusion

Reddit’s awesome. I hope you find ‘your people’ there, like I did.

Any other personal finance subreddits that you like? Please comment below 🙂


11 Malaysia-Based Personal Finance Twitter Accounts to Follow

If you love personal finance as a topic but have not explored Malaysian Twitter yet,
do I have a treat for you today.

Following my popular
personal finance Instagrammers in Malaysia
 article, I thought I’d compile the Twitter version pulak. Here are some Malaysia-based personal finance Twitter accounts you definitely should follow.

Note that I have
intentionally excluded

other personal finance thought leaders in Malaysia
 who don’t use Twitter as their
main
 engagement channel (bloggers, Instagrammers etc). I also exclude Twitter accounts maintained by finance-related companies and media.

This names in this list links directly to their Twitter accounts and appear in no particular order. If I missed out anyone, do let me know (or leave a comment with a link to the profile!)

#1 –
Farid Bahrudin

What to expect in the feed:

Dah ada eCCRIS
https://t.co/VlqZUDj2BY

Kena daftar dulu dekat BNM Link Kuala Lumpur untuk dapatkan pin 6 digit.
pic.twitter.com/HNprtD758A

— Farid Bahrudin (@faridbahrudin)
December 21, 2017

Hasil simpanan RM100 setiap bulan selama 18 tahun. Ni tidak termasuk duit lain yang diterima anak (duit raya).

Tabungan Pendidikan sendiri sebagai alternatif kepada PTPTN.
pic.twitter.com/118u6B2MsZ

— Farid Bahrudin (@faridbahrudin)
December 7, 2018

#2 –
Kewangan Graduan

What to expect in the feed:

Jika anda mencarum dalam KWSP (caruman berdasarkan gaji bulanan seseorang pekerja). Ada caruman pekerja dan caruman majikan.

Semak dan ketahui setiap caruman ada dalam akaun KWSP.

Ikuti cara-cara ni untuk semak caruman anda:

— Kewangan Graduan (@kewangangraduan)
January 6, 2018

Kesepakatan syariah dalam pelaburan ASB

– kesepakatan fatwa keharusan pelaburan ASN dan ASB telah dicapai semua majlis fatwa negeri
https://t.co/uRuaACkjrh

pic.twitter.com/f4dYdYvkiQ

— Kewangan Graduan (@kewangangraduan)
January 6, 2019

#3 –
Farah Adira IFP

What to expect in the feed:

Imbas balik 2018. Ini prestasi pasaran ekuiti global bagi beberapa negara termasuk Malaysia, sehingga hujung tahun 2018.

Sumber: Bloomberg, iFast Compilation

Returns in MYR term
pic.twitter.com/VJldRvmpt3

— Farah Adira IFP (@farahadiraIFP)
January 6, 2019

Kalau ikutkan,

bayar penuh dgn diskaun 20% lagi untung.

Jumlah ujrah= 15k x 1% x 6tahun = RM900

VS

Diskaun = 15k x 20% = RM3k

hilang potensi? tak. sebab kenapa?

ada lebihan RM200 sebulan, ada option untuk invest.
https://t.co/bz6hLMpDm8

— Farah Adira IFP (@farahadiraIFP)
December 4, 2018

#4 –
Faiz Wahab
 /
FaizWahab.com

What to expect in the feed:

Main kutu cara hipster!

Ini adalah thread

— Faiz Wahab (@faizwahab)
January 9, 2019

12 tanda anda menguruskan kewangan dengan baik
pic.twitter.com/sQlW9B72Hu

— Faiz Wahab (@faizwahab)
October 21, 2018

#5 –
Amaluddin Mahmood

What to expect in the feed:

Thread: Kompilasi tweet berkaitan pengurusan kewangan dan pelaburan.

Khususnya untuk yang baru nak bermula.

— Amaluddin Mahmood (@_amaluddin)
June 28, 2017

#6 –
Urban Hartanah

What to expect in the feed:

“Nak buat rumah atas tanah sendiri?”

haa baca ni dulu. hadamkan. reply bila thread dah tamat utk tidak mengganggu. RT dan sebarkan
pic.twitter.com/HKfT6cKZYx

— Urban Hartanah (@twthartanah)
February 27, 2017

Mah Sing bakal memecah tradisi industri hartanah apabila bakal menjadi pemaju pertama jual rumah melalui platfrom e-commerce ; Lazada.

Mekanisma mereka juga pada pandangan tim UH, agak user friendly.
pic.twitter.com/MwZTSt8RgQ

— Urban Hartanah (@twthartanah)
November 29, 2018

#7 –
Che Muhammad Faiz

What to expect in the feed:

Client minta ajar cara screening stocks. Jauh? Call je. Give service to my client.

Antara peserta seminar tempoh hari yang menjadi client saya

🙂
#BursaMalaysia

#TradewithCheFaiz

pic.twitter.com/aKacT3Vl4H

— Che Muhammad Faiz (@chemfaiz)
January 5, 2019

Keputusan saham yang aku beri pada client bermula 25/12/18-4/1/19.

Unit belian: 30,000

Tempoh: 1hari-7hari pegang

Masih ada hold beberapa saham.

Trade dengan ilmu
#TradewithCheFaiz

#BursaMalaysia

pic.twitter.com/L7bqn8V5Ir

— Che Muhammad Faiz (@chemfaiz)
January 4, 2019

#8 –
Norizan Sharif

Note: Rather than ‘personal finance’ per se, Mr Norizan’s tweets are more mindset and personal growth-focused.

What to expect in the feed:

KAWAN YANG KITA KATA PANDAI “BODEK” BOS TU

– buat baik dengan semua orang

– tanya perkara yang dia tak tahu

– ramai kawan, besar network

– bercakap dalam mesyuarat

– tak burukkan syarikat

– update progres kerja

– tak gossip staf lain

– fokus kerja dia

– datang awal

– capai KPI

— norizan sharif (@nobisha)
January 10, 2019

Boss is always right
pic.twitter.com/mcWHH1PlkQ

— norizan sharif (@nobisha)
January 5, 2019

#9 –
#FinancialGory

What to expect in the feed:

Benarkah mahal untuk memiliki medical card insurans/takaful?
pic.twitter.com/HWL1WUFLXn

— #FinancialGory (@FinancialGory)
October 20, 2018

Dua jam sebelum tunggu kick off, dapat soalan ASB vs ABF mana satu lagi bagus.

Selain daripada dua dua ada pros and cons, ASBF juga ada risiko menjadikan kita penghutang berbanding pelabur. Take a baby step. Jangan kejar sangat. Invest in your time as well to learn.
pic.twitter.com/u4wXCuGYnr

— #FinancialGory (@azraeimuhamad)
January 13, 2019

#10 –

What to expect in the feed:

Common sense dah jadi benda rare zaman sekarang terutama bab duit. Check common sense berikut, Korang dah ada ke semua ni? perasan tak ramai member takde benda-benda camni. RT supaya dia baca ni. JOM DISCOVER!
pic.twitter.com/8cCsreghbQ

— Twt Bajet (@twt_bajet)
January 27, 2019

[THREAD] Ini pendapat Admin mengenai bankrap di usia muda. Tidak adil untuk kita terus bash dan menyalahkan golongan bankrap tanpa kita mengetahui lebih lanjut. Soalan pertama, Adakah kita dah baca artikel ini ataupun kita bagi pendapat berdasarkan tajuk sahaja?
https://t.co/wuEWK3wU2Y

— Twt Bajet (@twt_bajet)
January 29, 2019

#11 –
AnnaDot

What to expect in the feed:

Baru je semalam calculate cost retirement dengan inflation assumption 3.5% setahun. Tiba-tiba hari ni ternampak average 3.64% ☹

Baca:
https://t.co/ySfAqvPrgg

pic.twitter.com/fEXKxoiSF5

— AnnaDot (@rafidahfarhana)
October 17, 2018

It’s OK to be a housewife or househusband. But always find a way to build up your retirement saving. When your child is grown up, he/she can be independent and take care of him/herself. But there is no guarantee he/she is able to take care of our old self; financially. Get it?

— AnnaDot (@rafidahfarhana)
January 23, 2019

Alright, that’s all folks! These are the people I personally follow on Twitter – I’ve learned a lot from them, so make sure you follow them too! Also, I’m VERY certain there are more awesome personalities with Twitter accounts out there that talks about not just personal finance, but also self-development and business tips. If they (or you) are not included in, please leave a comment so we can check it out 🙂

Further reading:

14 Malaysia-Based Personal Finance Instagrammers You Should Follow

Some Malaysian personal finance personalities under the
Recommended personal finance websites
 may also maintain active Twitter accounts

My Twitter feed at @surayaror
 often include personal finance thought leaders (Malaysians and international) too


8 Malaysia-Based Personal Finance YouTube Channels to Follow

I’ve compiled
Malaysia-based personal finance Twitter accounts
 to follow, and
Malaysia-based personal finance Instagrammers
, so now its personal finance Youtubers and Youtube channels’ turn!

Note that I have
intentionally excluded

other personal finance media and figures in Malaysia
 who (1) don’t use English as a medium, (2) don’t publish videos on a regular basis, and (3) is too product-focused.

This names in this list links directly to their Youtube channels and appear in no particular order. If I missed out anyone, do let me know (or leave a comment with a link to the profile!)

#1 –
Suyin Ong

Watch these videos:

#2 –
My Personal Finances

Watch these videos:

#3 –
Mr Money TV

Watch these videos:

#4 –
KCLau.com

Watch these videos:

#5 –
CF Lieu

Watch these videos:

#6 –
RinggitPlus

Watch these videos:

#7 –
iMoney

Watch these videos:

#8 –
Hu$tlr

Watch these videos:

Did I miss anyone? Probably, yes. I’m sure there are more awesome channels on Youtube out there that talks about not just personal finance, but also self-development and business tips. If they (or you) are not included in, please leave a comment so we can check it out 🙂

Related:

12 Malaysia-Based Personal Finance Twitter Accounts to Follow

21 Malaysia-Based Personal Finance Instagrammers You Should Follow

Ringgit Oh Ringgit YT channel
 (there’s only one video as of time of writing – I’m working on it!)


The ‘Just-In-Case’ Things PIDM Plans For [SPONSORED]

Have you ever thought of how ‘offence’ and ‘defence’ look like, within the personal finance context? Society at large likes to over glorify Offence moves because, well, it’s exciting.

Let me show you some examples:

Starting a new side-business is
Offence
. Having enough savings that are enough to keep your family afloat even if the venture fails is
Defence
.

Taking the initiative to ask for a raise is
Offence
. Having valuable skill sets and sizable savings, just in case it didn’t work out is
Defence
.

Dipping your toes in high-risk investments or trading activities is
Offence
. Having the majority of your net worth still locked up in low-to-medium risk long-term investments is
Defence
.

Makes sense, right? If you’re lucky, your Offence will pay off. But if you’re not, well that’s what Defence is for.

Here’s one more Offence/Defence you should know: Thriving financial ecosystem which constantly shifts to adapt to new situations is solidly
Offence
. Protecting consumers in case any of the risk-taking activities didn’t pay off is
Defence
.

PIDM is the Defence for that particular situation
.

If PIDM Didn’t Exist, a Short Story

Let me paint you a picture of what *might* happen if PIDM didn’t exist.

You are the typical, contributing member of society. You go to work, you pay your bills, you care for your family.

Like everyone else, you keep the majority of your money in banks because it’s safer and banks can be trusted. Millions of other Malaysians also use their services and plus they have been around for decades, their reputation is solid. You might even keep some of their stocks (directly through the stock market, or indirectly through mutual funds or unit trusts).

You are confident that you’ll be able to access your own money whenever you want. In fact, the idea of NOT being able to access and use your own money didn’t even cross your mind. Why would it? Something like that never happened before. Not here, not in Malaysia.

An unforeseen incident happens. The bank you’re using informs you that they’re very sorry for the inconvenience, but they’re closing down.

Oh no!, you think. But no matter. I’ll simply withdraw my money and put it elsewhere. Life doesn’t change, only my bank does.

Sorry, we don’t have your money, says the bank. We’ve gone bankrupt. We don’t have enough cash to give back. We’re truly sorry.

That can’t be, you say. You have my money! Give it back!

Any inconvenience is regretted, says the bank.

(This might be the point that you learned that yes, while the bank does keep all your deposits, they don’t simply keep the cash lying around. They lend it out to borrowers. They make investments. Your deposits exist in their records, but may not be available for all depositors to make immediate withdrawals at the same time. This is just how banking works.)

This alternate reality isn’t that far off from true reality. Banks can and have gone bankrupt.
This long list
 compiles banks that were acquired or bankrupted in 2007-2009 alone, during the Great Recession.

When these banks failed, people felt very let down. They lined up in the streets to try to get back their money from bank branches. Bank employees lost their livelihood. In some cases, senior executives and ministers were prosecuted.

But we have PIDM in Malaysia. PIDM is exactly the defence mechanism that is in place *IF* a bank fails.

What PIDM Planned For

The financial consumer protection system is one of PIDM’s purposes, as mandated under Akta Perbadanan Insurans Deposit Malaysia (PIDM Act). They are the Government agency that is pure Defence in nature. As one of Malaysia’s financial safety net players alongside Bank Negara Malaysia and the Ministry of Finance, PIDM is part of the reason why Malaysia’s financial ecosystem is strong and stable.

What PIDM show you:

What PIDM didn’t show you: The work that goes behind the scenes to ensure that PIDM is well-prepared to undertake a bank failure, no matter how remote it would seem right now.

(In this way, it’s similar to medical insurance. You take it, but not having to use it is the
best case
 scenario)

So What Exactly Will Happen IF a Bank Fails?

97% of depositors will get their money back in full, promptly.

The speed is important, and that is part of PIDM’s work. Their job is to ensure that you, the depositor, can go on with your banking activities with minimal disruptions.

With PIDM’s protection in place, your money will be refunded without the need to submit any claims; the process is automatic. According to the PIDM Act, PIDM is obligated to do this no longer than three months from the date of the winding-up order (But PIDM said they have the means to reimburse you much earlier than that. Just wait for official announcements from PIDM
when
 if the time comes.)

How about the remaining 3%, you ask? These are people who have more than RM250,000 in
each
 applicable deposit account. They’ll be fine, don’t worry about them.

(Jk jk. They can file a claim to recover unprotected sums. But yes if this is a problem for you, please read this article outlining
the scope of PIDM’s protection
 so you can optimise your finances for maximum PIDM protection.)

The grand total you need to pay for this amazing service? The huge sum of…
free
. No charge to you. PIDM member banks and insurance/takaful companies contribute to PIDM’s protection fund so if anyone tells you of any PIDM charge is a scammer (tell your parents/grandparents this, they might not know!). See some examples of posts/words/images used by scammers in PIDM’s
Financial Consumer Alert
 page.

Never forget Defence

Going back to the Offence/Defence analogy. As I said, we as a society over glorify Offence a lot.

Sometimes it can be downright
harmful
 – stories like ‘I used my credit card to start a new business and it worked out!’ or ‘I quit my job with no savings and it worked out’ is really bad IMO. For every one person who successfully ‘worked it out’,
many others went bankrupt and had to sell their homes and cars
.

So, if you haven’t, start thinking of
Defence
 whenever you attempt an
Offence
. If whatever you’re attempting works out, good. If not, hey you’ll avoid the worst-case scenario.

As for PIDM – thank you for the Defence work. In the nicest way possible, I hope we never get to use whatever you planned, in case of a member bank failure. Amin.


[SPONSORED] What Does PIDM Do and Why Should YOU Care?

When Perbadanan Insurans Deposit Malaysia – PIDM for short – contacted me about doing a paid collaboration, I was confused. Unlike other sponsored post inquiries I get, PIDM has no products or services to sell. If anything, their services are (1) free and (2) automatic.

Then they told me their reasons. They’re to:

Promote awareness
 on PIDM’s protection services so that people are assured that their deposits, takaful and insurance benefits are safe;

Inform which
financial products are protected
 to prevent scams by unscrupulous parties, and;

Let people know what they should do IN CASE their
banks, takaful and insurance companies go bankrupt
 (stay calm, see #3).

So apparently – and I didn’t know about this before – there are people out there who scam your family and friends because they don’t know about PIDM?? That is horrible! And this is why PIDM wants to tell the public who they are and what they do!

So I said yes, and together we created this plain-English article about what PIDM does.

#1 – First of all, the Top 5 things about PIDM’s protection that you should know

There are
two protection systems
:
Deposit Insurance System
 (abbreviated to DIS) and
Takaful and Insurance Protection System
 (TIPS). The former protects your deposits in the bank, while the latter protects your takaful or insurance benefits.

Again, both DIS and TIPS are
(1) free and (2) automatic
. You don’t have to pay anyone. You don’t have to do anything.

This is meant to
protect you
 in case the banks, takaful and insurance companies you use go bankrupt. Not that the scenario is likely to happen, but IF it does, your money and takaful and insurance benefits are still safe no worries.

Your
deposits are insured up to RM250,000
 with banks in Malaysia. IMPORTANT: Different account structures can be
protected separately
. Go ahead and open different account types to get the max protection amount of RM250,000 for each account. See the example below:

Your
takaful and insurance benefits are protected up to RM500,000
 (for death, permanent disability, critical illness, loss or damage of property), up to
RM10,000 for disability and annuity income per month
, and
100% of expenses incurred for medical expenses
. See some example calculations
here
.

#2 – You DON’T have to pay for PIDM’s protection

Now that you know, walk away from any company or organisation that shill ‘PIDM protection services’. Better yet, notify to the relevant authorities (Bank Negara Malaysia, the police, consumer associations, etc) so they can investigate and if necessary, take action.

#3 – When do you actually need to contact PIDM?

You can contact these fine folks if you need information about what they do, ask what kinds of products are covered or not covered (or see #5), and more.

You DON’T need to contact PIDM if IF the bank/takaful/insurance company you use go bankrupt. Here’s what to do instead:

Step 1: Stay calm – you don’t need to go to your bank/takaful/insurance company.

Step 2: Wait for PIDM’s announcements on how, where and when payment will made (in the case of a bank going bankrupt).

Step 3: Follow the instructions as per the announcements.

Step 4: Get your money back, live your life as usual.

PIDM will reimburse your deposits as soon as possible to ensure that you will have uninterrupted access to your funds.

#4 – Is your bank and insurer a PIDM member?

A big part of understanding PIDM’s protection is knowing WHO members of PIDM are. If they’re not a member, the products that you have with those financial organisations are not protected.

Here’s the
list of member banks
.

And here’s the
list of insurer members
.

Protip: A quick way to check if the company is under PIDM is to look out for the membership sign below at any of their branches.

#5 – Everything that is NOT covered under PIDM (even if your bank/takaful/insurance is a PIDM member)

Your funds are not protected if:

A) They’re deposited into non-member banks, like:

Investment banks

Overseas branches of member banks

Development financial institutions and cooperative banks (like Agro Bank, BSN, etc)

All non-bank financial intermediaries such as provident and pension funds, co-operative societies, housing credit institutions and building societies which are not supervised or regulated by Bank Negara Malaysia (EPF, etc)

B) You use these types of financial products and services:

Deposits not payable in Malaysia

Interbank money market placements

Negotiable instruments of deposit (NIDs) and other bearer deposits

Gold-related investment products and accounts

Unit trusts, shares, stocks

Repurchase agreements

C) By the way, these takaful and insurance benefits are not protected too:

Takaful certificates and insurance policies denominated in foreign currencies

Loss of profit, pecuniary loss incurred due to acts of dishonesty by employees and damage payable for professional negligence

Investment portion of investment-linked takaful certificates or insurance policies

Note: Just because they’re not covered under PIDM, doesn’t mean they don’t have their own protective measures, too.

#6 – PIDM-approved money hacks

So by now you know that some types of deposits and takaful/insurance benefits are protected by PIDM, and some are not. Here are some tips from PIDM on maximising your protection.

Always ask
 your bank or takaful and insurance agents if the financial product you are getting is protected by PIDM. Banks are obligated to tell you if a product is protected. When in doubt, contact PIDM.

Open multiple types of accounts
 to get protection up to RM250,000 each. Spread your savings across different banks, split them into conventional and Islamic accounts, open joint accounts – all these will work.

Even if you have more than RM250,000 in one bank, you can still
file a claim
 to the liquidator to recover your money IF your bank/takaful/insurance provider goes bankrupt.

Reminder that the ‘if’ really is a big ‘IF’ because banks/takaful/insurance companies going bankrupt is pretty unlikely. But, you know, ‘trust in God, but tie your camel’ and all.

Last Words

Now that I know more about PIDM, here’s what I’m going to do with the information:

Keep using more than one bank, just in case;

Make sure my main savings accounts are always, always with PIDM-protected member banks;

Not going to panic in case one of them goes bankrupt;

If I have more than RM250,000 in deposits (I don’t, but InsyaAllah), I’ll open different types of accounts to get every inch of that money protected;

Factor the max amount protected for insurances I pick into consideration;

Report anyone who sells ‘PIDM protection services’, because those are probably scams, and I hate scams.

Aside from that, can I just say what an awesome security measure this is for Malaysians? Nice job, Malaysian government. This part, I like.

What do YOU know about PIDM before reading this article?


3 Productivity Tips Women (and Men) MUST Know

On 1st November 2020, I had the extreme pleasure to collaborate with one of my favourite Malaysians,
Ainie Haziqah
 in her Sunday Nights with AH live session. Aside from being the Managing Partner at law firm Nurainie Haziqah & Co, she also co-founded
Happy Bank NGO
 AND
Girl2Leader Malaysian chapter
 AND
Human Aid Selangor NGO
 AND
KitaLearn
 AND
Wanita Muda Negara
.

View this post on Instagram

A post shared by Suraya Zainudin (@surayaror)
 on
Oct 29, 2020 at 3:09am PDT

Our chosen topic was Productivity Tips for Women, and even though I feel inadequate to talk about this topic next to her, I know I can at least contribute a little bit. At the very least, I know I scored 65 out of 105 in the Pozen Productivity Test, a 21-question survey based on seven habits of productivity:

developing daily routines

planning your schedule

coping with messages

getting a lot done

running effective meetings

honing communication skills

and delegating tasks to others

(To be fair, some of the questions are not applicable to me so that reduced my score a little bit – I don’t work in a team, don’t attend regular meetings and have no subordinates to delegate work to. You can find our your productivity score and take the test yourself
here
.)

The topic of productivity is not a new one, but here I want to emphasise these are tips that
women
 should know. Generally speaking, you have less time to work with for personal development, because society imposes the burden of
unpaid care work to you
– you do 70% of it. Your work in childcare, elderly care and housework is regarded as free, invisible, and not compensated in monetary value.

As much as I want to say ‘don’t do it’, I know that caring for others gives you (and me) is sometimes unavoidable and may even give a lot of joy and fulfilment, so like it or not we have to be smart with our time (and our choice in spouse).

#0 – Unseen productivity boosters

Before we get into the meat of the topic, I want to bring up one fact which many people forget: privilege boosts productivity levels.

It is NOT REALISTIC to compare your productivity output to someone who:

Has a person/a whole team working behind the scenes (domestic helper; driver; personal assistant; employees etc)

Has a supportive spouse and/or domestic helper who takes over household responsibilities and caring duties when needed

Has no or minimal caring duties (healthy parents; healthy, responsible and self-sufficient children)

Lives near to work or works from home (no commute = more time!)

Has invested a lot of money in time-saving and long-lasting gadgets and equipment

Personally, I think my productivity has a lot to do with the fact that I am childless, blessed with healthy parents and
work from home
. Ainie has a team.

What I’m trying to say is… don’t compare, your best is good enough. After all, comparison is the thief of joy.

Okay, with that disclaimer, let’s go the first productivity tip,

#1 – Note-taking

Note-taking habit is my #1 productivity tip. I swear by it – I can’t live without it! The feeling of dumping information on paper so it no longer takes up space in your head… unbeatable. I save so much time and frustration when I can quickly retrieve information!

I write all sorts of things in my notebook. Aside from the money stuff (related:
17 Things to Include in Your Money Journal
), I also maintain a groceries system to
avoid food waste
, write out article outlines, pour my heart out in mental health checks (both using
free-writing
 method; highly recommend) and more.

I’m aware that note-taking isn’t a particularly revolutionary tip, but I have additional protips:

Buy undated planners
. Yearly or dated planners are hard to re-use, and if you ‘fall off the wagon’ (as we often do – no worries life happens), you won’t waste pages. Also, you won’t know how many pages you actually need. Personally, I go through 1 full notebook every 9 or 10 months.

Stationaries junkies and note-taking junkies aren’t necessarily the same crowd.
 If you have no patience or obsession for stationaries (like me), then don’t force yourself to make ‘pretty’ notes. Take notes that work. I use ONE multi-colour pen and stuck a bunch of post-its at the back of the notebook, to differentiate notes and to cover mistakes, respectively.

Use hardcover notebook
. This is non-negotiable for me. So much easier to write on than softcover. It is also a must for everyone who is ganas with their belonging!

View this post on Instagram

Snapping some pages of my well-utilised @summorieco notebook (received as gift! I’m too cheap to buy premium notebooks!) for my and your reference. Some notes I make include: . 🔹My goals and its trackers 🔹My top character strengths 🔹Groceries and food I made from them + ideas of what to make and what ran out 🔹Tracking food and calories 🔹Article ideas and editorial calendar 🔹Fave quotes 🔹Lessons from workshops, events, online content . My handwriting, note-taking and journaling method is not pretty, but it works, at least for me 🙂 . #plannermalaysia #notebookMalaysia #howiplan #malaysiablogger #contentcreatormalaysia #planneraddictmalaysia

A post shared by
 Suraya Zainudin
 (@surayaror) on
Jan 2, 2020 at 11:23pm PST

#2 – Protect your flow state

Short, focused work in flow state > long hours filled with distractions.

Science backs it up: Flow is described as a state of
complete immersion in an activity
; you can get a LOT done if you reach this state. I know it sounds like a woo-hoo thing, but it’s true. And flow is not just for work either – it’s any activity, including learning, networking and even resting.

People use all sorts of strategies to eliminate distractions in order to achieve flow state, from the practical ‘put phone on silent’ all the way to enforcing intentional time limit (like
Pomodoro Technique
) to ‘
wake up at 5am
 (do work while everyone else is asleep)’. The tips that work ranges, because everyone’s distractions are different.

For some people, especially caregivers, distractions are not possible to completely eliminate. However, here are some tips compiled by some parents:

Hire a babysitter or enlist help from family members, if available and possible

Instruct children to ONLY come to you during specified times, unless of course if blood is involved. I’ll backlink this when I find it again, but I recall this one mother using the family meeting method – bring up everything during once-a-week family meetings, which quickly gets sorted/delegated

Wear crazy hats and/or earphones to signal you’re working and cannot be disturbed (again, unless blood is involved)

#3 – Automate, Optimise, Outsource, Eliminate

If you can automate, optimise, outsource and eliminate housework, do it. Some ways include:

Get gadgets: Robot vacuum cleaner, washer/dryer, etc

Hire regular house cleaning and/or laundry service

Do meal-planning and meal-prepping: plenty of videos on Youtube showing you how to do bulk-cooking once a week

Getting groceries delivered

Practicing minimalism so you have less to clean/maintain/fix in general

Voluntarily choose the childfree lifestyle (not for everyone obv; I’m pro-whichever situation where the children are wanted and loved)

Men, you might want to take this part seriously.
These chores tend to be invisible to you
, and you don’t do your fair share. A lot of women – especially working women – feels resentment over the unequal contribution of housework. Resentment breeds contempt, which is the
biggest predictor of divorce
.

Having said that, women should know that men face problems that you don’t know about, because they won’t tell you about it. It’s hard for men to break away from the ‘I’m a man so I must suffer in silence, never show weakness’ mentality.
85% of stonewallers in a heterosexual relationship are men
.

I don’t know about you, but this gives me the motivation to work hard so I can comfortably afford to automate, optimise, outsource and eliminate where possible. If my relationship still doesn’t work out, then I know I gave it a fighting chance.

How do YOU protect your time, focus and energy?

What productivity tip works for you? Which ones doesn’t? What is your biggest barrier to focused, uninterrupted work? Let me know in the comments!

Watch our full talk here (includes Ainie’s personal productivity tips!):

View this post on Instagram

Guest : Suraya Zainuddin, Founder of RinggitOhRinggit.com

A post shared by
 Ainie Haziqah
 (@ainiehaziqah) on
Nov 1, 2020 at 5:34am PST


13 Things to Do During Restricted Movement Order in Malaysia

Restricted Movement Order just started, but I admit I’m already restless.

But… I refuse to complain about it. Whatever I’m facing is minor – so minor – compared to what the frontliners are facing. Staying home is the least I can do.

In this article, I compiled some things we can all do during the Restricted Movement Order.

#1 – Work from home

As you know, the Restricted Movement Order demands people who are not part of essential sectors to just stay home and do their work from home. We just have to assume we ourselves are infected and limit our exposure to other people so we don’t infect them.

Easier said than done though. I was already working from home before this, and the transition is minimal, if any, and I still find myself unable to focus on the work.

I don’t know how people get any work done. Am constantly anxious and distracted and glued to my phone

— Suraya Zainudin (@surayaror)
March 20, 2020

But hey, like aka work goes on. That’s why I published this article anyway.

#2 – Enable your spouse to work as well

You have work to do. Your spouse have work to do as well. Enable them.

Fact: divorce rates increased after the lockdown in China. Want to avoid? Do your part in cooking, cleaning and childminding.

#3 – Find out new COVID-19 updates

I’m getting my updates mainly from social media (primarily Twitter and Facebook). How about you?

Am learning so much about:

Local updates (number of new cases, new instructions, financial assistance and support etc)

Global updates (number of new cases, vaccine development, how different countries are handling the situation etc)

What billionaires are doing and AREN’T doing (Read:
What are the top 100 billionaires doing to help with the Coronavirus crisis? by Brek Throo
)

(Awaiting a similar post with Malaysian twist)

And also, how useless and nonessential many ‘important’ people are

When this is over, let’s remember that it wasn’t the CEOs and billionaires who saved us. It was the janitors, nurses, grocery, and food workers.

— Mohamad Safa (@mhdksafa)
March 19, 2020

Of course, while I’m getting all these updates, I’m also having fun seeing netizens bash wealthy individuals. You know, the tone-deaf, didn’t-check-their-privilege ones who wonder why people are *not* social distancing when its sO eAsY, while they’re self-isolating in their big houses.

If you like posts like these, follow my Twitter
@surayaror

#4 – Be part of the #KitaJagaKita movement

Please donate generously to the many organisations helping those who are most affected by COVID-19!

If you can’t help via financial or time donation, you can also help via promoting and sharing the website:
https://www.kitajaga.us/

#5 – Be part of Caremongering Malaysia – Community Response to COVID-19

Help to buy and drop off groceries, medicine and other supplies to the elderly and people with limited mobility near you.

Join at:
https://www.facebook.com/groups/653716671867349/

#6 – Check up on your friends and family

Social distancing is weird since we humans are inherently social creatures. But we gotta do what we gotta do.

Spare a thought for the extroverts. I think they’re finding it harder than the introverts and they need you now more than ever

View this post on Instagram

We’re all in this together.

A post shared by
 Introvert, Dear
 (@introvertdear) on
Mar 14, 2020 at 1:09pm PDT

#7 – Take care of your own mental health

See, I’m young, healthy, financially stable (ish), and I’m still anxious af. Can’t imagine how other people are going through all this. Trying to be positive is harder than usual, and I’m a natural optimist.

I don’t know about you, but I’ve downloaded a couple of meditation apps, and going through mindfulness playlists on Spotify.

I’m also free-writing. That’s journaling without thinking about what to write. It’s nice to just get it all out, I highly recommend it.

#8 – Take advantage of paid entertainment now provided for free

Or you can go the other route and entertain yourself as the world is falling apart. For example, Scribd is giving free access at
https://www.scribd.com/readfree

And iflix

View this post on Instagram

Tak perlu isi borang 😉 Kami bagi akses iflixVIP tanpa sebarang caj kepada semua! Gunakan kod tertera dan tebus sekarang di iflix.com/redeem #iflixVIP #iflix #perintahkawalanpergerakan #Covid19 #Coronovirus #Lockdown

A post shared by
 iflix Malaysia
 (@iflixmy) on
Mar 18, 2020 at 9:00pm PDT

Please share more in the comments section 😀

#9 – Learn stuff

If you have the mental capacity to learn high-demand skills like programming and content marketing, go ahead.

If not, you can also learn more practical stuff like how to cook frugal meals.

Personally, I’m taking some time to do stuff I’ve always wanted to do, like downloading TikTok. (For purely marketing reasons I assure you).

#10 – Read the books you already bought but haven’t read

You heard me.

Related:
What’s On My Bookshelf: What I Read and HIGHLY RECOMMEND

#11 – Finally start your website

Who wants to (finally) start a website? Now’s a good time as ever to do it. You can do:

A blog – lots of people looking for things to read/consume. Related:
6 Personal Finance Blog Ideas, Absolutely Free for You to Take

(For businesses) A website for your business

(For freelancers and self-employed) A website that acts as a work portfolio – time to step it up. A professional website may help you get clients

You just need hosting/domain + website design theme. It should cost you roughly RM800ish (for 3 years) + a few hours in setup time.

Step-by-step guide in
The Exact Steps I Use to Earn Money from Blogging
 (it says blogging but will work for other types of websites too).

Dm me if you get stuck, I can do (virtual) handholding 🙂

#12 – Do online shopping

You’re already doing this anyway aren’t you. I heard that online sales went up, especially for categories like fitness equipment, stuff for home office setup and childrens’ toys (and adult toys too – interpret that however you wish).

All I can say is, bless
Mr DIY
 for still opening their online store.

#13 – Support small businesses

If you can online-shop (and offline-shop with precaution) with small businesses, please do so. It’s already hard for them to compete with big businesses in normal times. I can imagine its much harder for them now, without cashflow, minimal cash reserve and limited manpower to spend on marketing efforts.

Personally I’m also affected. RinggitOhRinggit is also a small business. I was planning the launch of 2 books but have to delay until a better time.

I want to launch Money Stories from Malaysians Volume 2 and Cerita Duit Orang Malaysia Jilid 1 but I don’t know if this is a good time 😥

— Suraya Zainudin (@surayaror)
March 18, 2020

I’m aware its not just me. Other authors are affected as well

Sorry to say, coming from a reliable source, people are not really willing to spend on books on a time like these. But please support bookstores and authors!!

— theRealGem (@dewgem)
March 18, 2020

But its okay. Business can wait. I was also reading somewhere that it’s okay to not be productive during these times, its okay to just merely survive. Some people won’t. Literally.

What are you during Restrictive Movement Order period?

Tell me what you’re up to. What other activities are you doing? Let me know in the comments section.

As always please help me share my articles 🙂 It’s an easy way to support an independent content creator.


[SPONSORED] What Actual Retirees in Malaysia Say About Retirement

In my previous
sponsored post about retirement
, I talked about the importance of saving up for retirement, because the fact is that the majority of Malaysians don’t have enough money to support their golden years.

Who best can show you the reality of retirement, than actual retirees in Malaysia? Here are 3 retirees, and what they’re doing now to financial support themselves.

The original article appears here
. Read it. It contains more details of these retirees.

Mr Moothy. Age: 65. Spent EPF money for family. Returned to workforce.

Mr Moorthy bought property, but had to liquidate it to help his children’s finances. Because of a parent’s love, he had to return back to the workforce.

The consequences of not saving for ourselves can affect our parents.

Mr Haris. Age: 57. No EPF savings (self-employed). Still working.

Mr Haris is self-employed, and still works to support himself and his dependents. This scares me, as I am self-employed as well, which means I don’t have the ‘paksarela’ 11% deduction every month.

If you’re self-employed, channel a percentage to EPF savings anyway. And have some
passive incomes
 to help you.

Mrs Cheng. Age: 74. Survives on late husband’s minimal pension. Depends on daughters.

Mrs Cheng stays with her daughter. Her financial position can be summed up in two words: filial piety. It’s not uncommon for us as Asians to expect this.

This is a poor strategy though. What if you don’t have children to depend on, by choice or by force?

Conclusion

Are you on track to retire without money worries? Go to
the original article
 and find out more about the reality of being retirees in Malaysia, and more about Mr Moorthy, Mr Haris, and Mrs Cheng’s life.

This article was written in collaboration with
CompareHero
. To stay up to date with the latest news on personal finance in Malaysia, please follow
CompareHero Facebook Page
.


[SPONSORED] Retirement in Malaysia – Will You Fight or Flight?

Earlier this month, I was contacted by
CompareHero
, who wanted my opinion on retirement in Malaysia. This is what I said:

“Not being able to afford retirement is scary to me. I can’t imagine how unbelievably stuck that must feel. I don’t want to be 60 and in pain but have to push myself to go to work every single day just to be able to pay for medical bills.

This is why I am a big fan of EPF, PRS and achieving financial freedom. And if the maths say I must start now, in my 20s, then I guess I must start now. Maths doesn’t lie!”

Link to original article
.

Here are some things that I learned from the article.

EPF Basic Savings for retirement has increased from RM196,800 to RM228,000

According to the latest revision in 2014, to take info account higher cost of living and longer life expectancy, the amount that an individual now need in their EPF Basic Savings is now RM228,000.

You can benchmark your EPF savings progress

RM228,000 at 55 years old feels like a long time away, but you can check your progress towards this amount based on the image below.

Check your EPF statement (I know some places have that easy EPF printers where it’ll print out your statement with just IC). Are you on track?

The easiest way to keep on track is to maintain 11% deduction instead of 8%. The difference is pretty big – see example below with RM3500 monthly salary.

Most people don’t have enough EPF savings

The current statistics about Malaysians’ average savings are quite sad. According to the image below, only 1 in 5 of you will have enough savings to retire (but only enough to last 5 years! Assuming you retire at 55 and live until 75 years old – the
average Malaysians’ life expectancy
 –
you only have enough money for 5 out of 20 years
).

Significantly, almost 7 out of 10 Malaysians over the age of 54 years old have less than RM50000 in savings. Assuming RM1000 a month, that will last just slightly over 4 years!

Are you on track to retire comfortably in Malaysia? Go to
the original article
and find out if you can actually survive on RM1000 a month and how EPF works.

This article was written in collaboration with
CompareHero
. To stay up to date with the latest news on personal finance in Malaysia, please follow
CompareHero Facebook Page
.


[SPONSORED] 5 Sessions You’ll Want to Attend at SCxSC20

My fellow fintech nerds, where you at? Securities Commission Malaysia’s annual fintech event is back, and this year they’re taking it virtual!

SCxSC Fintech Conference 2020 or
SCxSC20
for short, held in partnership with Rakuten Trade and MDEC will be happening completely online from 5 to 7 October 2020, for the steep price of FREE.

Like the previous years, the schedule is filled with thematic sessions under the fintech umbrella. This year, the four verticals are: Innovative Technology, SC Digital Initiative, Fintech Entrepreneurship and Fintech Literacy.

Some of the sessions are *really* cool, I thought I’d list them here, schedule them into your calendar. Here are five sessions that you’ll want to attend at SCxSC20.

#1 –
Investment Behavior In Turbulent Times

How we behave as an investor during market uncertainty? Heck yes I want to learn that.

Date
: 6 October 2020 (Day 2)

Time
: 9.30-10.30 am

Category
: Fintech Literacy

Speaker
:
Jeff Kreisler, Editor-in-Chief, PeopleScience

#2 – Crypto Conundrum in Islamic Finance

This one goes for y’all who’re like, ‘but is crypto halal’? Cryptocurrencies in the context of Islamic Finance-type content is rare! Also, what is the conundrum? I want to find out!

Date
: 6 October 2020 (Day 2)

Time
: 2-3 pm

Category
: SC Digital Initiatives

Speakers
:

Datuk Dr Mohd Daud Bakar, Chairman,
Shariah Advisory Council of Securities Commission Malaysia and Bank Negara Malaysia

Mohamed Elgari,
Shariah Advisor & Former Professor of Islamic Economics King Abdul Aziz University

Dr Ziyaad Mahomed,
Asst Prof  / Associate Dean and Director of E-Learning and Executive Education, Head of  Islamic Social Finance

Basheer Ahmad, Senior Manager, Markets, Dubai Financial Services Authority

#3 –
Beyond Reality: VR, AR and Gamification in Finance

The way I see it, these are attempts by the financial services’ industry to make finance fun. How *do* they include VR, AR, AI and all these technologies in finance? That’s what they’ll present in this session.

Also: Stay back for the panel right after this session. I’ll be moderating it 🙂

Date
: 7 October 2020 (Day 3)

Time
: 9.30-10.10 am (10.10-10.40 am panel session)

Category
: Innovative Technology

Speakers
:

Chris Tew, VP Sales Asia Pacific, Artificial Solutions

Pedro Moura, CEO & Co-Founder, Flourish Savings

Mark Warrick, Chief Design Officer, Thought Machine

Dave Ferguson, Co-Founder, Groove Jones

#4 –
The Role of Fintech in Responsible Investing

Most people are fundamentally good, and we select investments and financial services that reflect our values. Attend this to know the global standard of responsible investing. The more aware you are as an investor, the more you can ‘vote with your money’, so to speak.

Date
: 7 October 2020 (Day 3)

Time
: 2-2.30 pm

Category
: SC Digital Initiatives

Speaker
:
Chris Brycki, Founder & CEO, Stockspot

#5 –
eBerkat: Enabling Micro Finance Digital Products to the Underserved

Because you can learn more about
eBerkat
, MDEC’s digital services platform for B40 and Micro SMEs. Micro SMEs include people who do side businesses… so that’s you (or Future You), yes?

Date
: 5 October 2020 (Day 1)

Time
: 2-3 pm

Category
: Fintech Literacy

Speakers
:

Ronnie Tan, CEO & Managing Director, GAX MD

Ankur Jakhwal, Regional Director, Aspirasi (Axiata Digital Capital)

Wilson Beh, Co-Founder, PolicyStreet

Other sessions at SCxSC20

These are my personal must-attend sessions list for SCxSC20 event this year, but there are more sessions that you may want to attend as well, especially if you’re working in the fintech industry.

For example, you might want to go to these sessions as well:

Navigating the “New Normal”: How has fintech fared through Covid-19 crisis?

Brave New World: Conceptualising the Future of Modern Financial Architecture

Data Portability: Impact & Opportunities

Are We A Fit-for-Future Workforce?

Evolving Financial Services: Accelerating Industry Digitisation

(and a must-attend session for those working in fintech startups) Meet with the Regulators

Click
here
 to register and to view timings of other sessions. Again, all sessions are absolutely FREE to attend.

My recommendation

If you’re interested in fintech aka financial technology at all – as someone contemplating joining this high-growth industry in the future or even as a casual user – you should absolutely attend
SCxSC20
. Last year the ticket was RM100 if not mistaken, and who knows if they’ll start charging again next year,
if
 when the pandemic is under control.

I keep telling you to save money and learn as much as possible. With this opportunity you can do both. Jom.


5 Interesting Info I Found in the Securities Commission Malaysia Website

Some time ago I wrote about how I got bored one day and decided to check out (and write about) the
Bank Negara Malaysia website
.

I got bored again, so here’s an article about me clicking around Securities Commission Malaysia website pulak.

(Huh, this can be an ongoing series. I can write about other financial institutions’ websites, why not)

Similar disclaimer here. None of the screenshot-ed images below are mine, they’re taken from the website. Securities Commissions Malaysia team reading this, please don’t sue me *laughs nervously*

First impression of the
Securities Commission Malaysia website
 – nice and clean layout. Good job website team! (bodek jangan tak bodek)

I’m going to cover the home page section by section because it’s damn long.

Securities Commission Malaysia home page

Clear top bar navigation. The website is available in English and Malay

Rotating slides to share new updates (fuller section:
Media Releases and Announcements page
)

A search bar. Ask Aliss? Who’s Aliss?

Latest from SC section – we can see that they post new updates fairly regularly, 3 updates within 2 weeks

An ‘investor alert’ section, a rotating section showing you some scam entities

Roles of Securities Commission Malaysia – Regulate; Develop; Protect

A banner to
InvestSmart
 initiative – one of the
19 Financial Education Initiatives in Malaysia You Should Know

Left side – Regulatory highlights

Right side – Most-viewed documents (list goes on longer – had to halve the image)

Quick link to
Analytics section
 (find whatever data you want here)

Tweets from Securities Commission Malaysia

Contact Us section

Careers section

And (finally) Related sites

Alright, with that done, I’m going to share with you some interesting information I found while
leisurely
 clicking around the website. I just want to know what information is in there. Here’s what I found:

#1 –
How
Securities Commission Malaysia regulate

Under the Regulations tab, you can find out
how
 Securities Commission Malaysia regulate, ie show private financial companies who’s bawse.

That’s all well and good. Nice to know there are all these guidelines. Like I said, I’m doing this for fun so I’m not going too deep into the documents.

I found an interesting section here though. If you click Enforcement, there is a ‘
Have you seen these people
‘ page, showing pictures, IC no and last-known addresses of Persons Wanted by the SC and List of People Sought to Assist in Investigation.

Woaaaahhh. People with bounty hunter fantasies, you know what to do.

#2 – Malaysia Co-Investment Fund (MyCIF)

Securities Commission Malaysia’s Malaysia Co-Investment Fund (MyCIF) is a fund where MyCIF will invest in P2P and ECF campaigns ‘based on a 1:4 ratio, in which MyCIF will invest RM1 for every RM4 successfully raised from private investors on the MyCIF participants’ platforms’, with maximum contribution of RM500,000.

(So basically its to promote companies to raise funds from investors via P2P and ECF platforms. Go to #3 if you don’t know what these are)

(Note: ONLY invest from
recognised market operators
)

Interested to explore MyCIF? You can access it from Development> Digital> click on Malaysia Co-Investment Fund (MyCIF), or through
this link
.

#3 – Videos page

I love this page! The video quality is amazing! Highly recommend you to check it out. Access it via Development>Digital>Videos, or simply click
here
.

At writing time, there are videos on:

Digital Asset Guidelines

SCxSC 2019 Highlights (our main annual fintech event)

Peer-to-Peer explainer videos

Equity Crowdfunding explainer videos

Related: My article on
Funding Societies Malaysia
, one of the recognised P2P operators in Malaysia

#4 – The List of Unauthorised Websites / Investment Products / Companies / Individuals page

As you continue your investment journey, you will come across lots of ‘investment opportunities’. It’s not a bad idea to bookmark
this page
 (Investor Empowerment> List of Unauthorised Websites / Investment Products / Companies / Individuals)  so you can quickly do your due diligence.

You can also inform them of dodgy activities. Contact them at  603-6204-8999 or email at
aduan@seccom.com.my
.

On that note, you can also check if the person/company you’re dealing with is actually who they say they were in the
Lisenced and Registered Persons page
. There is a Public Register of Lisence Holder some more.

#5 – Related sites section

…These are organisations worth knowing about. You know some of them, but there are even financial organisations and services which I had NO idea about. In the slides section, there are links to:

Bursa Malaysia
 – check out
Bursa Marketplace’s Mirror, Learn & Trade Platform

InvestSmart
 – Lots of learning materials for investors here

PPA/PRS
 – Private Pensions Administration / Private Retirement Scheme

FIMM
 – Federation of Investment Managers Malaysia

SIDREC
 – Securities Industry Dispute Resolution Centre (‘We help resolve disputes between investors and SIDREC Members’)

OICV-IOSCO
 – International Organisation of Securities Commissions (TIL there is such a thing!)

CMC
 – Capital Market Compensation Fund Malaysia (still figuring out what they do)

Capital Markets Malaysia

BIX Malaysia
 – Bond and Sukuk Information Exchange (surprisingly colourful page)

Ministry of Finance Malaysia

Bank Negara Malaysia
 – check out my
5 Interesting Info I Found in the Bank Negara Malaysia Website
 article 😀

Last words

I actually love Securities Commissions Malaysia a lot. Everyone I’ve met there has always been not just professional, but also kind and helpful. Internally I don’t know how la, but as an outsider, I only have good things to say about them.

View this post on Instagram

Thank you to Securities Commission for having me as moderator and speaker during #SCxSC19! It was my absolute honour to moderate the digital investment session and speak in the digital marketing session . The topics this year are the most progressive one yet. I’m so grateful to the people behind Securities Commission Malaysia who curate sessions related to Islamic finance, digital assets (crypto!), serving the undeserved and ethical finance, cybersecurity, new fintech platforms (roboadvisory, p2p lending, equity crowdfunding) in a way that is transparent, inclusive and diverse (they took steps to have more women speakers!) Never been more hopeful of the future of finance in Malaysia tbh . As Tarah Wheeley, AI and cybersecurity expert said during her session – at the end of the day, humans are the ones who build these fintech tools. Let’s support those who serve, rather than harm, humanity . #fintechmalaysia #securitiescommissionmalaysia #securitiescommission

A post shared by
 Suraya Zainudin
 (@surayaror) on
Oct 23, 2019 at 1:47am PDT

I’m going to end this article here. My last question, directed to anyone in the know, is this: Who’s Aliss? Pls I need to know.


I Am Self-Learning DeFi (Decentralised Finance). Here’s Why.

I’ve been a crypto fan since December 2015, but very new to the world of DeFi (Decentralised Finance). Before we begin, let me start with this admission: I don’t quite understand DeFi yet – it’s very technical and still hard for me to wrap my head around.

However, in the spirit of ‘
writing it out makes you learn better
‘ and ‘you don’t have to be an expert to write about user experience and journey’, I accept this challenge. I truly believe DeFi is an important topic for everyone to at least be aware of, even if now is not the right time for you to explore it. I’m also going to share how my journey into DeFi looks like, so you’ll know what to more or less expect when you are ready.

How DeFi works

Decentralised Finance or DeFi is
financial services built on top of distributed networks with no central intermediaries
. Here are some examples:

(source: Slide 16,
DeFi in 2020

At the core of it, DeFi is… code. Financial transactions go through when the conditions are met, full stop.
The same set of rules apply to everyone who uses it
 – this can be good or bad, but absolutely transparent – the codes are published and improved upon by community members
by a consensus mechanism
 (the method differs; some use proof of work, some use proof of stake. Click
here
 to learn more)

I won’t go too much into how the technology behind decentralised and distributed networks works (click the image below to see the technical differences, if you’re into that kinda thing). Suffice to say, DeFi is very different from the traditional financial system, which has always fallen under the Centralised Network model.

Image credit: https://blockchainengineer.com/centralized-vs-decentralized-vs-distributed-network/

Don’t get me wrong. The centralised financial system has advantages – for example, if I lose my funds or get scammed, I can submit a report.
My deposits are also protected and insured by PIDM
.
 It is completely fine to stay within the traditional financial system if you like this assurance
.

Additionally – and this is important –
the learning curve to use DeFi platforms is pretty high f
or people who don’t have (1) financial and/or (2) coding/tech background, neither of which were skills taught in school. You have no choice but to self-learn how everything works.

That brings us to the next part,

My journey in self-learning DeFi

This is how my self-learning journey in DeFi looks like so far (highly simplified):

Learn about
bitcoin
, the cryptocurrency that started it all
Learn about ether, the cryptocurrency used in
Ethereum Network
. Ether is not just a store of value; developers use it to build DApps, or Decentralised Applications. To fully explore DeFi, you need ether because most DeFi platforms are built on Ethereum Network – buy
here
.
Learn how
Ethereum Network and smart contracts
 work. I’m not a coder so I’m super lost here but if you are, definitely check out the
ETHKL community group
 – they organise meetups and stuff. Super friendly people and generous with their knowledge, love them. NEVER ASK THEM ABOUT ETH PRICE, ONLY THE TECH, OR I SLAP YOU

Play around various no-code platforms built on blockchain, including Steemit (think Medium but on blockchain) and that time
I created SurayaCoin
 (no value btw, just for fun)
Learn about
stablecoins
, ie cryptocurrencies that are pegged to a more stable currency (as we know, cryptocurrencies are volatile). USDT or USDTether is easy to understand – 1 USDT = 1 USD.
I’m still confused about how Dai works
Lost a bunch of money in the process
. Uncharted territories carry more risk. REMEMBER: Always use play money, not survival money
Lucky enough to see some gains just by hodling, not trading (Read:
Ranked: Lowest to Highest Return on Investment
).
Read
CoinGecko’s How to DeFi book
 (buy it
here
)

Explore available DeFi platforms and ngl a bit disheartened that many platforms look like they’re not syariah-compliant (for example, you can make money by lending your ETH, but profiting from interest is Riba’, aka haram money)
Dipped my toes in liquidity mining (they call this farming) with A LOT of guidance – shoutout to Jason Chew, moderator/ambassador of
Aavegotchi Malaysia
! Note: Aavegotchi itself is a game but exploring it teaches you so much about DeFi ecosystem

Played Harvest Moon all my life. Never knew I'd eventually become a DeFi farmer 👩🏻🌾
https://t.co/dl2DoYgta9
— Suraya ringgitohringgit.com (@surayaror)
January 30, 2021

This is where I’m at now, as of the time of writing. I’m still learning. The journey isn’t over.

But why learn it at all?

My motivation to learn about DeFi

To be blunt, my motivation to learn about DeFi is the belief that capitalism (in the way it is playing out now) is screwing all of us common folks, aided by the traditional financial system.

Related:
4 Things You Should Know About The Financial Ecosystem We Live In

This isn’t new information, it’s been going on for ages. Traditional finance rewards the rich with better access to capital and rates – that’s why you see the rich getting richer and the poor getting poorer. Over time, wealth, and by extension, power, is concentrated in the hands of a few.

The wealth part doesn’t actually bother me that much. Many business owners did create and distribute wonderful products and services which make our lives better. One should absolutely profit from innovation and providing value to society.

The part that does bother me though is the way
the top 1% ignores how their decisions negatively affect the bottom half, who have no choice but to live with the outcome
. Some examples:

Uncontrolled and unsustainable growth contributing to worsening air, water and sound pollution – so we have to ‘invest’ in things that cancel them out: expensive air purifiers, water filtration systems, etc
Living at places further away from the workplace as we are priced out from sky-high properties in the city, thus spending more time, energy and money on commute
Employees being retrenched, have their salaries cut and every inch of productivity squeezed out of them, by business owners who are
already
obscenely rich
The rich and well-connected using overly-complicated financial products which can literally cause economic crisis when things go wrong, but get almost no repercussion (hello 2008 Financial Crisis)

Important: This is not a ‘rich people should do this or that’ article – who cares what I think, I’m a nobody. This is simply an observation of the way things are. Feeling helpless is an understatement.

But then DeFi comes along, with democratisation of finances as its core value.

DeFi, for me, is a way to reduce my reliance on traditional finance, which is heavily influenced by the top 1%.

DeFi, for me, is using technology to take back ownership of my financial life, even for a little bit.

DeFi, for me, is a way to feel less scared of the future, as the concentration of wealth and power continues.

So that’s why I’m learning DeFi. And why I’m telling you about it. Consider this your awareness stage, so you’re not thrown into the deep end if you do need to use it in the future.

And you know, *if* I make a few bucks along the way, all the better. Here’s hoping the airdrop game in 2021 will be good as well – I watched enviously as
DeFi early adopters get airdrops worth thousands of dollars throughout 2020
.

Are you are learning DeFi as well? Which platforms? What is YOUR motivation? I’d love to hear from you – leave a comment below!