Sticking to a Savings Plan – 4 Ways to Monitor, Manage, and Multiply Your Finances

Whether you’re navigating the adult world as a single professional or as a working married man or woman with kids, saving is likely at the top of your list of goals. That’s because your future financial security and the comfort of your family depend on how well you’re able to set aside funds. While money is hard to earn, it’s easy to spend, so you may have found that sticking to your savings plan hasn’t worked out so far. If you’re wondering what you can do to maximize your finances and grow your savings account, these 4 tips should start you off on the right foot. Explore Interest Schemes – Lots of people tend to look over the interest earning options offered by banks when clients open accounts. But there’s a great deal you could be missing out on if you skip the fine print. Interest basically means the money you put in your account will earn a certain percent depending on the amount inside, which ultimately means you can grow your money simply by setting it aside. A savings account with higher interest rates means you can earn more over time for the money you put in. Be Specific – Often, people tend to set vague goals that are difficult to stick to. Simply saying “save more” could mean saving just some spare change every month, and that won’t do much for your goals. Learning to set specific goals will help you set aside more substantial amounts that will bring you closer to your objectives. For instance, telling yourself to set aside $20 every week will make it...

Millionaire Mentality – 6 Ways of Thinking that Set the Wealthy Apart

According to a report published in 2014, Kuala Lumpur trumped all other cities worldwide when it came to the number of millionaires. With over 13,800 high net worth individuals residing in the city, Kuala Lumpur managed to surpass even western localities that were expected to top the ranks. When asked, these millionaires claimed that they owe their success to the different wealth management products in Malaysia as well as their own clever and quick thinking. These numbers prove that becoming a millionaire in Malaysia is nothing short of a very likely possibility, but it still depends on how well you manage your finances and play your cards. Experts say that to be rich, you have to think rich. Are you thinking like a millionaire? Find out how the minds of the rich tick by reading this list. Don’t Spend, Invest – If you were handed a large sum of money that you could spend however you want, what would you do with it? Many of us will answer that we’d buy this and that, but millionaires would do otherwise. Instead of spending money on things that won’t generate returns, shift your mentality to investing so your money can earn you more. Dabble in All Industries – When we find an industry we love working in, we tend to stay there. But look into the cash flows of the rich, and you’ll see money coming in from all directions. Explore your horizons and dabble in different industries to keep your finances safe. This way, you’ll know if one fails, you’ll always have different sources of funds to keep your finances...

What Foreigners Need to Open a Malaysian Bank Account

If you’re a foreigner living in Malaysia, or planning to come over soon, then you’ll be glad to know that it is fairly easy to open a Malaysian bank account. Most banks in Malaysia do not set overly difficult terms and conditions for foreigners wanting to start bank accounts, whether they are savings accounts, current accounts, fixed deposit or investment accounts. There can be several reasons why a foreigner would want to start a Malaysian bank account. Some of the most common reasons include:  – Migrating here as an expatriate worker  – Retiring here under the Malaysia My Second Home (MM2H) programme  – Desiring to buy a house in Malaysia  – Pursuing tertiary education at a local college or university Applications from foreigners are subjected to certain terms and conditions. You would first need to show a valid international passport. Additionally, you’ll have to have a residency permit to show to the banks. In the absence of a residency permit, a reference from your Malaysian employer of Malaysian contact is required. This is to add to the credibility of your identity. Usually, foreigners that have a work permit or proof that they are here under the MM2H programme will have an easier time applying for a bank account. Identification requirements are subject to the policies of the banks. Some banks allow you to open an account merely with a passport, while others require more visas like a work or residency permit. As a general rule of thumb, if you’re able to produce the following documents, you’ll stand a higher chance of being successful: A valid international passport 2. Documents...

SME Sentral Malaysia – Servis & Pembiayaan Perniagaan Untuk SME

SME Sentral is the first business ecosystem in Malaysia that includes various services that are specific to the SME sector. The services offered are to help in developing SME companies that have either just started their operations or companies that want to expand their existing business. SME SENTRAL merupakan satu ekosistem perniagaan yang pertama seumpamanya di Malaysia yang merangkumi jenis-jenis perkhidmatan yang khusus bagi sektor SME. Perkhidmatan yang ditawarkan adalah untuk membantu perkembangan syarikat SME samada yang baru beroperasi mahupun yang mahu memperluaskan perniagaan mereka. Success Tools: Surat Sokongan Kewangan (Financial Support Letter) Surat sokongan kewangan yang membuktikan SME mempunyai keupayaan kewangan yang kukuh dan meningkatkan kredibility Syarikat untuk mengendalikan pelbagai setiap urusan perniagaan/permohonan dengan cermerlang.     Perlindungan Inbois (Credit Insurance) Skim Insuran Takaful Perlingdungan atas invois kredit. Kurangkan risiko hutang lapuk untuk perniagaan SME. Bekalan Kredit (Supply Credit) Surat Akujanji (Undertaking Letter) kepada Pembekal dan Subkontraktor Perlindungan Sub-Kontraktor (Sub-Con Trust) Mendapat bayaran terus melalui Pemberi Kontrak melalui Assignment Bayaran Bank Guarantee (BG) Jaminan Bank yang dikeluarkan oleh Bank Komersil. Letter of Credit (Surat Kredit) Surat Kredit Bank (Bank Letter of Credit) kepada pembekal. Pembiayaan Bekalan (Supplier Financing) Membiayai kontrak bekalan terus. Tunaikan Inbois Anda (Cash Your Invoice) Menukar Inbois/tuntutan bayaran kepada tunai (Jual Inbois).   Address: Suite 2A-22-2, Level 22, Blok 2A, Plaza Sentral, Jalan Sentral 5, KL Sentral, 50470 Kuala Lumpur. Telephone: 1-700-81-8012 Email: info@smesentral.com Web: http://www.smesentral.com/ Social Media: SME Sentral Youtube Channel | SME Sentral Twitter | SME Sentral...