Carnival of Financial Planning – Edition #166 – November 19, 2010

Welcome to the November 19, 2010 Edition #166 of the Carnival of Financial Planning.

The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security.

This edition is arranged by subject heading, so that you can browse efficiently. Enjoy!

The SkilledInvestor, Editor

Budgeting and Economics

The Skilled Investor presents How to Save More posted at Personal Financial Strategy, saying, “Budgeting and self-control in consumption is far more important than clever investing. Expenditure control and budgeting works, while “clever” investing usually is counter-productive.”

2 Cents presents What Happens When the Glass Is Too Big? posted at Balance Junkie, saying, “Is the glass half empty, half full, or twice as large as it needs to be?”

Roshawn Watson presents Economists Blame ME for the Slow Recovery posted at Watson Inc, saying, “We are responsible with our money, yet instead of admiration (or even understanding), these efforts garner contempt as the frugal once again get the blame for dismal economic activity.”

Liz M. presents The Emotional Impact of the Economy: Case Study posted at Suddenly Downsized, saying, “A first person look at the emotional impact of the current economic state and some tips on coping with the negative effects of the recession”

Emmanuel Oluwatosin presents Do You Have a Working Budget? posted at Achieve PACE: Take Charge of Your Life and Business, saying, “Do you have a working budget? I am not talking about having a budget that does not go beyond what you have written down on a paper.

You may even be using a budgetting software? But if it does not translate to guiding you to manage your financial resources, you need to take a pulse. You need to review your financial transactions before you hit the wall.”

Financial Planning

Jeff Rose, CFP presents Financial Tips for Women posted at Jeff Rose, saying, “Here are some financial tips that women (and men!) can use to improve their financial situation.”

Dividend Tree presents Building Core Competency for Long Term Survival posted at Dividend Tree, saying, “whether it is running a business or individuals investment portfolio, it is important to build a core competency for long term sustainability. In my case, I focus on good quality companies that consistently pay or have potential to pay growing dividends overtime.

FIRE Getters presents Tools – FireSafe Your Personal Finance Documents! posted at FIRE Finance, saying, “It’s a nice idea to keep our important personal finance stuff in such a way that we can grab hold of it and leave at a moment’s notice. In case we cannot do so, it’d be great to have a back-up at a safe place with an easy access in case of natural calamities or unforeseen disasters ….”

Neal Frankle presents How To Hire A Top Financial Advisor Even If You Don?t Have Much To Invest posted at Wealth Pilgrim: Money Management Advice, Financial Stess Management, Addiction Recovery Plan & Resources, saying, “You can hire a top financial advisor – even if you don’t have much money.”

Joe Plemon presents How Do You Define Wealth? Hope for the Little Guy. posted at Personal Finance By The Book, saying, “Can a non millionaire be wealthier than a millionaire? Depending on your definition of wealth, yes.”

The Financial Blogger presents A Day As A Financial Planner posted at The Financial Blogger, saying, “A look at the work involved with being a financial planner.”

Larry Russell presents No

Load Mutual

Funds posted at Best Index Mutual Funds, saying, “Superior past performance has simply not been shown to be a reliable predictor of superior future performance. However, low costs can lead you to the best mutual funds.

Susan Howe presents Make More Money: How to Supercharge Your Income posted at Get Rich Slowly, saying, “This post is a collection of the best tips from Get Rich Slowly (and other personal-finance blogs) about boosting your income.”

Frank Knight presents Strategic Asset Allocation posted at Best Personal Financial Planning Software, saying, “When you are already there and invested in an asset class, you are following a passive asset allocation strategy. Tactical asset allocation strategy advocates suggest that you can anticipate the crowd, but flow-of-funds studies show that almost all tactical asset allocation fund flows are late money flows that chase performance after valuations have already moved.”

freefrombroke presents Ways To Increase and Improve Your Credit Score Without a Credit Card posted at Free From Broke, saying, “Most ways to improve your credit score involve credit cards but there are a couple of ways you can improve your score without a credit card.”

Odysseas presents Your Kids and Money posted at Wallet Blog, saying, “This illustrates through an interview with personal finance expert Jean Chatzky the ways parents should teach their children about money. Teaching children financial responsibility is not an easy thing, so here are a few tips to get the money conversation going.”"

Financing a Home

Mike @ Green Panda presents Are You Ready To Purchase a Home? posted at Green Panda Treehouse, saying, “What to consider before you consider buying a home.”

Tom @ Canadian Finance Blog presents Owning A Home – Be Prepared For The Expenses posted at The Canadian Finance Blog, saying, “It’s important to consider the expenses of owning a home, not just the mortgage but increased heating costs, possible renovations, home security and home insurance.”

Jessica Bosari presents Is Refinancing Smart for Those Over 50? | billeater.com posted at Billeater, saying, “Special considerations for those over 50 thinking about refinancing.”

Financing Education

MoneyNing presents Should We Shield Our Kids From The Economic Reality? posted at Money Ning, saying, “Would you want to talk to your kids about your financial situation, or should you hide everything from them so they can have a happy upbringing?”

Praveen presents Is The Education Market The Next Credit Bubble? posted at My Simple Trading System, saying, “How educational loans appears to be a bubble like mortgages.”

Sustainable Life Blog presents How to Payoff your Nelnet Student Loan posted at Sustainable Life Blog, saying, “A step by step guide to help you pay off student loans held by Nelnet.”

Income

FMF presents Market Timing Doesn’t Work. Yes, It Does. No, It Doesn’t. Yes, It Does. posted at Free Money Finance, saying, “Does market timing work as an investment strategy? Depends who you ask…”

Ken presents Tips For Choosing A Home Based Business posted at Spruce Up Your Finances, saying, “valuable ideas on how to select a home based business and what to avoid”

FMF presents 5 Ways To Either Make A Fortune Or Lose Your Shirt posted at Free Money Finance, saying, “Five risky pursuits that could make you wealthy.”

Investing

Mike McFate presents Today?s Trading Strategy: Bearish on Energy Sector posted at CompanyInvest.com.

The Financial Blogger presents Where Is Your Money Being Stored? A Few Viable Options posted at The Financial Blogger, saying, “A look at where you can store your money.”

Dividend Tree presents Dividend Investing and Businesses with Moat posted at Dividend Tree, saying, “In general, companies with moats in their business are very good dividend growth providers. However, the opposite may not be true.”

Ryan @ CML presents 6 Options Trading Basics Every Investor Should Know posted at Cash Money Life, saying, “These are some basic stock options strategies that every options trader should know.”

Praveen presents Caveat

Emptor: If An Investment or Opportunity Appears Too Good To Be True,

Beware! posted at My Simple Trading System, saying, “Beware of investment opportunities that seem to be

too good to be true.”

DGB presents Best Canadian Dividend Stocks posted at The Dividend Guy Blog, saying, “Our look at the best Canadian dividend stocks.”

Intelligent Speculator presents Why I love trading posted at Intelligent Speculator, saying, “Why I love to trade stocks.”

Pat @ DNW presents Take Responsibility for Your Investment Returns posted at Do Not Wait, saying, “A post urging you to take care of your finances asap.”

Mike @ Green Panda presents Don’t Be Intimidated By Money Management posted at Green Panda Treehouse, saying, “A post outlining the dos and donts of personal finance.”

Arjun Rudra presents How To Manage Risk, Increase Income and Maximize Returns with Mohsin Bashir, CFA Of Highwater Capital Management posted at Investing Thesis, saying, “How To Manage Risk, Increase Income and Maximize Returns With Mohsin Bashir, CFA Of Highwater Capital Management”

ComplexSearch presents How to Use a CD Ladder for Your Emergency Fund posted at Deals & Tips, saying, “Using Certificate of Deposits to prepare for emergency funds will require you to use a ‘CD Ladder.’”

Silicon Valley Blogger presents Is Your Retirement Investment Portfolio Tax Efficient? posted at The Digerati Life, saying, “How tax efficient is your retirement savings account?”

Mike McFate presents How to Make Money When the Market Goes Down posted at CompanyInvest.com, saying, “Most people only take advantage of 1/2 of the market. How to make money when the market goes down”

Tom @ Canadian Finance Blog presents Questrade Straight A Trading Contest plus Promo Code for $50 In Free Trades posted at The Canadian Finance Blog, saying, “A review of Questrade, including a promo code for Canadians to get $50 in free trades.”

Arjun Rudra presents Discussing Investing In Income Producing Assets Like Bonds And Dividend Stocks posted at Investing Thesis, saying, “Discussing income investing using preferred shares and dividend stocks.”

Dividends4Life presents 13 Dividend Stocks Providing A Growing Income posted at Dividends Value,

saying, “How much money will you need for retirement? This a very difficult question to answer. There are many factors and assumptions that go into estimating the income that will be needed in retirement.

However, one certainty is that if you only invest in fixed income instruments, you will need more than if your investments provide you a growing income.”

Tushar Mathur

presents Can’t Control the Markets? Try controlling the Costs posted at Everything Finance, saying, “The financial markets are prone to unpredictable periods of turbulence. That can make investing feel a bit like a roller-coaster ride. The disappointing results may have left you feeling concerned over your financial future. You’re not alone.”

Consumer Boomer presents How to Build a CD Ladder For Maximizing Return posted at Consumer Boomer, saying, “When you ladder your CD investments, you can maximize the potential earnings. Here’s how.”

Frank Vertin presents Best Index Funds posted at Index Mutual Funds, saying, “Top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.

The Skilled Investor presents Stock Market Timing posted at Personal Investment Management, saying, “Always stay invested to earn risk premiums. You must have your money invested and at risk to get risk premium returns. Jumping out and in or “timing the markets” doesn’t work.”

Intelligent Speculator presents Why I do not use intra-day stops posted at Intelligent Speculator, saying, “My rationale is explained in the article.”

Frank Knight presents Muni Bond Retirement Software, posted at Best Financial Planning Software, saying, “Municipal bond investments and your state and federal marginal income tax rates: Some investors hold municipal bonds in an attempt to reduce their tax burden. This article discusses the relationships between tax-exempt municipal bonds, bond market returns, marginal tax rates, and investment asset tax location.”

Mike Piper presents International Bond ETFs and Funds: Should You Own Them? posted at The Oblivious Investor, saying, “Does it make sense for U.S. investors to own international bond ETFs or funds?”

Tomas Escent presents Stock Trader Automation posted at Nerds on Wall Street

Steve Alexander presents Will Scrutiny over Menthol Cigarettes Snuff Lorillard? posted at MagicDiligence – Optimizing Joel Greenblatts Value Stock Strategy, saying, “Lorillard is the maker of Newport menthol cigarettes, the second most popular brand in the United States. The company is very profitable, produces a lot of cash, pays a good dividend, and buys back stock. But is it cheap enough given FDA scrutiny around menthol smokes?”

Managing Debt

Madison DuPaix presents Student Loans: The Effect of Extra Payments posted at My Dollar Plan, saying, “Don’t discount the effect that even a slight prepayment on your student loans can have.”

Silicon Valley Blogger presents DIY Debt Reduction Programs: 3 Affordable Ways To Beat Debt posted at The Digerati Life, saying, “Ways to fight debt.”

Big Cajun Man presents Found Money Trap posted at Canadian Personal Finance Blog, saying, “Found money should go on debt no matter what!”

Joe Plemon presents How to Avoid Christmas Debt Without Becoming a Grinch … 12 Great Tips posted at Personal Finance By The Book, saying, “Piling up debt in order to celebrate the birth of Christ doesn’t add up. These tips will help your Christmas season be a true celebration.”

Roshawn Watson presents Why Is Debt Really Decreasing? posted at Watson Inc, saying, ”In the first quarter of 2008, our debt to disposable income peaked at a staggering 131%. This means for every dollar we earned, we spent $1.31. As of March, our debt as a share of our annual income is presently 122%. If you think this change indicates that we have collectively been so scarred by the “Great Recession” that we are now behaving fiscally responsible, think again. There is a surprising and sad reason why our debt has gone down. Hint, it has nothing to do with frugality.”

Tim Chen presents WalMart MoneyCard vs Western Union MoneyWise: Prepaid Debit Card Showdown posted at NerdWallet Blog – Credit Card Watch, saying, “You’ve probably seen the WalMart MoneyCard at your local WalMart, offered in partnership with Green Dot Financial. While it’s definitely one of the better deals out there, it’s not the best deal.”

Geoffrey Schmidt presents 101MoneyTalk.com – Pay Off Debt Fast posted at 101MoneyTalk.com, saying, “This article shows the reader the fastest way to pay off debt.”

Ryan @ CML presents What is a Good Credit Score? posted at Cash Money Life, saying, “Do you know the credit score range most lenders consider to be a good credit score?”

Jane Sanders presents How to Get Debt Collectors to Leave You Alone posted at Debt Management, saying, “Anyone who has been the target of a debt collector knows how relentless they are when they smell money. Non-stop calls, letters, voice mails, and high pressure persuasion are just some of the tactics they use to get you to pay up. Fortunately, as a debtor, you have rights under the law and there are strict guidelines that debt collectors are required to follow. Never forget that you are in control of the situation. Without a legal judgment in their favor, there is nothing debt collectors can do to force you to pay.”

The Smarter Wallet presents Are Debt Counseling Services The Way To Debt Relief? posted at The Smarter Wallet, saying, “On debt counseling services.”

CreditShout Kevin presents How To Deal with an American Express Financial Review posted at CreditShout, saying, “If you’re an AMEX cardholder, you may have gotten a letter saying that you have been selected for a financial review (aka we need to make sure you are in good enough financial shape to keep your AMEX card), here is how to deal with this dreaded situation.”

Miscellaneous

Michael Pruser presents Best Ways to Make Money on Craigslist posted at The Dough Roller

Michael presents Holiday Travel Deals, Consequences, Verizon Promo Codes posted at Consumerism Commentary

Frank Knight presents Roth ConversionRetirement Planning Software posted at My Financial Freedom Plan, saying, “Whether to invest in a Roth IRA or Roth 401k versus their traditional retirement account alternatives is one of the most complex personal financial decisions. Roth accounts do not make sense financially for most people. They are a good deal, for a minority, but you need to do the analysis.

MoneyNing presents Can You Be Rich and Miserable? posted at Money Ning, saying, “It is easy to feel miserable no matter how much money you have, but do you get more upset when you see someone who has a load of money but can’t find happiness?”

Pasadena Financial Planner presents Vanguard Index Funds posted at Top Mutual Funds, saying, “Compares Vanguard’s actively managed mutual funds and Vanguard’s passively managed index mutual funds. Vanguard investors should read and understand this study.”

J. Jeff Rose, CFP presents How To Get a Free Credit Score (kind of) and Credit Report Through Quizzle.com posted at soldieroffinance.com, saying, “Given an unruly credit market, it is essential to have some understanding of your current credit situation. The easiest way to do is that is to request your credit score and report.”

nissim ziv presents What makes you different from the other candidates? What makes you unique? posted at Job Interview Guide, saying, “What makes you unique and different? How do you stand out in a crowd? You need to be prepared with a succinct and a self-assured personal statement about yourself, for if you are, you will be able to differentiate from the other candidates. You should be able to convince the interviewer that you are the most appropriate applicant for the job.”

Retirement Planning

Joe Plemon presents 5 Roth Conversion Myths posted at Personal Finance By The Book, saying, “The new rules are straightforward enough, but the application brings on questions and misunderstandings.”

Jeff Rose, CFP presents Should You Invest in Roth IRA or Thrift Savings Plan? posted at Jeff Rose, saying, “There are dozens of different “types” of retirement savings plans from which to choose. Here are some important facts that you need to know that can help you make this important choice.”

Ryan @ MFN presents How to Take a Thrift Savings Plan Loan posted at The Military Wallet, saying, “The Thrift Savings Plan is similar to a 401k, but for government workers and military members. The rules for loans are similar to 401k loans.”

Consumer Boomer presents Do You Really Need a Million Dollars to Retire? posted at Consumer Boomer, saying, “To determine how much you need to save for your retirement you need to start asking yourself some of these important questions.”

Walter W. Fouse presents Top 10 Large Cap Funds posted at Best Mutual Fund, saying, “This table of low cost top 10 S&P 500 mutual funds has been organized with the lowest cost index fund first. Nevertheless, each of these S & P 500 index funds is among the least costly on the market.”

Super Saver presents Retiring Early is Still Possible posted at My Wealth Builder, saying, “The key enabler is a plan that uses a 3% withdrawal rate.”

Jeff Rose, CFP presents Social Security Spousal Benefits Rules: Retirement Income For the One You Love posted at Jeff Rose, saying, “Calculating your Social Security Benefits is an important part of the financial planning process. This article will help give you a good understanding of your monthly benefits.”

Larry Russell presents Roth IRA Calculator posted at Retirement Planning Tools, saying, “Trying to decide about a traditional IRA to Roth IRA conversion without first having a comprehensive lifetime financial plan in place makes absolutely no sense. Without such a plan, you cannot figure out whether or not you are likely to achieve the tax savings in retirement that would warrant paying higher taxes now.”

Risk Management and Insurance

Barb Friedberg presents Does Your Child Need Life Insurnace? posted at Barbara Friedberg Personal Finance, saying, “Insurance for a child stirs up some controversy. Read the details and decide if your child needs life insurance or not.”

Jules Wells presents Investment Risk Questionnaire Investment Software, posted at Financial Answers saying, “There is a way for you to get a much better assessment of your risk tolerance than you would from a simple conservative versus aggressive financial industry investor questionnaire.”

Super Saver presents Why My Car Insurance Premium is Really Low posted at My Wealth Builder, saying, “I pay $267 a year for my car insurance. There are two types of reasons for my insurance being low: situational factors and price discounts.”

Big Cajun Man presents Self Insured Company Disability Plans posted at Canadian Personal Finance Blog, saying, “Sometimes insurance is not as safe as you might think (in Canada at least)”

Savings

KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets.”

Ryan @ MFN presents 2010 Veteran’s Day Free Meals and Discounts posted at The Military Wallet, saying, “This is a list of current free meals and discounts for military veterans – a great way to show your Patriotism and save some money!”

Ray @ Financial Highway presents Will You Have a Frugal Holiday Season? posted at Financial Highway, saying, “Are consumers really ready to spend more money come this holiday season? Maybe not. Perhaps frugality has caught on a bit. Maybe it will become a new holiday tradition.”

Taxes

Darwin presents US Deficit Panel Recommendations: Cuts, Cuts, Cuts posted at Darwin’s Money, saying, “The US Deficit Panel shocked the country and the Obama administration alike with an early release of their recommendations to reign in the US debt. No stone was left unturned – from elimination of the mortgage tax deduction federal salary freezes and more. Check out the full scope of changes recommended from the commission.”

Super Saver presents Qualifying for Money Giveaways from the Government posted at My Wealth Builder, saying, “Since retiring in October 2007, our taxable income is much lower. We now qualify for a number of tax credits that we weren’t eligible for in the past.”

Thursday Bram presents Your Taxes are Going Up! 4 Ways to Prepare posted at Currency, saying, “The “sunset provision” in the Economic Growth and Tax Relief Reconciliation Act of 2001 will let the law revert across many fronts back to 2001 tax rates. How do we get ready for this? Four considerations may help you prepare for the coming tax hikes.”

Jeff Rose, CFP presents Roth IRA Withdrawal Rules posted at Jeff Rose, saying, “The last thing you want do is give more to the IRS than they deserve. Here’s what you need to know about Roth IRA withdrawals.”

Financial Freedom presents IRA ContributionsRetirement Tool, posted at Financial Freedom, saying, “The Roth tax optimization puzzle for asset conversions, as well as for annual Roth contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon individuals.”

David de Souza presents 4 Things Everyone Should Know About Inheritance Tax posted at UK Tax Blog, saying, “Guide to inheritance tax, how it works and what tax allowances you can claim”

That concludes this edition. Submit your blog article to the next edition of Carnival of Financial Planning using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Technorati tags: carnival of financial planning, blog carnival.

This article is posted at: KCLau's Money Tips

Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs

In personal finance, the immediate thing that you can do and see the effect is to cut your expenses drastically.

Better to be pound wise, penny foolish

I am sure that you have heard of penny wise, pound foolish. I’ve seen someone who try to save every penny by not ordering drinks when dining out, and even walk to the next grocery shop two streets away just because the package of salt is cheaper by five sen there. But at the time when he is going to get a car, he is too shy to ask for discount from the salesperson. If he can get a thousand ringgit discount on that car purchase, he can afford hundreds package of salts.

When you want to cut expenses, always start with the big items and also those recurring one, such as magazine subscription, TV subscription etc.

Comparison shop on big item

When you are purchasing big items such as cars, expensive gadgets like cameras, house, and renovation, it is definitely worth your time to comparison shop.

These items cost thousands of ringgit. If you can save by only just 5%, the real amount is normally a few thousands ringgit. That one time of saving is giving more impact to your finance compared to refraining yourself from fine dining once in a while. Save on the big item and you will still be able to enjoy the small little pleasures that don’t cost much.

Whenever you comparison shop, not only you will most likely get the lower price with higher quality, you also gain experience and know what you are actually getting.

Have a criteria for shopping

Normally, those people who fall in the trap of excessive spending don’t really have a spending system in place. The easiest thing to do is to draw up a criteria set. You may set a rule that when an item is over a thousand ringgit, you will at least do a simple research online, and compare quality and pricing at three different shops before actually making the purchase.

Another criterion is to make a commitment to yourself that whenever you want to buy something, you need make sure that it will be used within 7 days. If that’s not the case, just don’t buy it yet because you will have another round of shopping really soon. Don’t ever buy something that is discounted but you are never going to use it until months later.

I bought a USB video camera for my PC which I think I am going to use it for an online networking site. But later on, I found that I have no time to hang around there and the camera I bought is completely a waste. I never use it and it is still in original box packaging. Furthermore, the value keeps depreciating and I am too lazy to do anything about it.

Cut down spending the efficient way

As a conclusion, the most efficient way to cut down spending is to have a system in place which prevents you from overspending. Focus your effort on cutting down expenses of the big items with comparison shop.

This article is posted at: KCLau's Money Tips

How to effectively cut your expenses?

A reader replied my email sharing his success story. I think that what he has achieved is a proof that one can achieve financial freedom in employment.
Although his achievement is something to be proud of, he chose to remain anonymous due to personal reasons.

You can achieve financial freedom in employment world

He worked in a local bank starting as an executive officer and before he left – a working life of 32 years, he was holding a senior manager position.

He wrote:

“I am in my mid fifties and already financially independent (retired) having various streams of passive income. The key to my success is building wealth through savings and investments, and paying off my debts fast.

My first property was a small double storey terrace house although my staff loan entitlement permits me to go for a bigger house worth at least RM300k. Free from having to meet high loan instalments, my surplus income was used to invest in equities. Over time I was able to build a respectable share portfolio as well as acquire other properties.”

When I asked him what are the three most important things he has done that ensure his success, he stated these:

Things that I did right:

• Plan for your retirement early and familiarise with investment/financial issues
• Do not spend on non-essentials as that will greatly increase your savings rate (spend below your means)
• Diversify investments over various asset classes

Things I did not do right initially:

• Speculate instead of invest in the stock market
• Not having a cut-loss limit when buying shares

What do you learn from his sharing?

This article is posted at: KCLau's Money Tips

What three things an employee did right that ensure his financial independence?

I often receive emails from reader asking opinion about the market. They often ask if it is good to invest in properties, or gold, or a specific fund, or a stock counter. This is a common trait that normal people always think that investment is about putting in your money and see it grow.

Investing is not about money alone

The fact is that if you think in terms of money alone, you are missing another important part of investment. Besides investing money, you should also invest another important resource which is not renewable. It is known as time. You should invest both time and money to get the best return.

Take the time to study the investment before putting your money down. Since time is not renewable, it is much more valuable than your money. Initially, you may need to put in more time in an investment to learn the inside out. Later, when you get more knowledgeable and more experience, you will make less mistake. Hence, you will make more money from your money invested.

When making an investment, you should also know the type of return you are looking for. Some people invest without knowing the outcome. Are you investing to get regular return? Are you investing to get more happiness? Or are you investing just to make more money?

Never lose money

A very important rule of investment is not to lose money, as Warren Buffett had preached. The first rule of investing is not to lose money. The second rule is not to forget the first rule. So it is in fact only one rule.

But how do you ensure not to lose money? Isn’t investment always comes with risk. The higher the return possible, the higher the perceived risk involved. The secret lies within the buying process.

Successful investors ensure that they make money at the time of buying, not at the time of selling. For example, you can buy a property at a discounted price, which is lower than the market value. You have already made the profit at the time you buy. This links to another very important investing style.

These types of successful investors normally invest for cash flow. The capital gain is like a bonus. You see, when you buy a property at a lower price, the rental yield will also be higher compared to properties bought at market price. So you must differentiate your investment style from those who only know capital gain. If you are aiming merely for capital gain, you are buying now and wish that the market value will go up so that you can make the profit later when you sell the property. The safer way to invest is to aim for cash flow rather than aiming for capital gain only.

In investment activity, you must know what you are doing. Buy now and hope to sell something at higher price later is quite naïve, unless you know what you are doing. Are you sure that the asset you buy now is “low” price? Are you sure that the market value is going to rise later? If you don’t know what you are doing, you certainly aren’t able to answer this.

Know your Best Investment

Since investment can be found anywhere, there are a lot of money can be made in every investment asset class. The richest man on earth invests in his own business. The second richest man invests in other people’s business by buying their shares. Many rich people acquire real estates as a major portion of their wealth. Many entrepreneurs become rich in just a few years by investing their time and effort into making their ideas work.

In a nutshell, every investment classes can be the best investment for you. The question is how do you know which is the most suitable one for you. How do you know which investment you should focus on and generate the highest return for yourself?

I’ve written a new chapter in the updated version of Top Money Tips for Malaysians. The bonus tip is about identifying the best investment. You need to identify what you are passionate about. So that you can leverage and have total control which will ensure that you won’t lose money in the process.

How to Invest

The above are the principles I hold on to whenever I make investment decisions. How about you? How do you invest?

This article is posted at: KCLau's Money Tips

Who else wants to invest for sure gain?

Did any of you attend the Celcom BlackBerry® Torch launch event that I mentioned in my previous post “CELCOM BlackBerry®?” The event on 29th October 2010 at Pavilion KL was a great hit drawing a huge crowd excited about the new BlackBerry®. If you had been one of the first 10 customers, you would now be the proud owner of the Blackberry® TorchTM 9800 at only RM8. Unbelievable! The next 100 lucky early birds got it at RM488 and the following 100 got it at RM888. They were happy customers getting their new BlackBerry® Torch at great deals just by signing up for one of Celcom’s BlackBerry® postpaid plans.

If you did not make it to the event and you are probably kicking yourself for missing it, don’t worry because Celcom is giving you another opportunity to claim one easily. Remember that you are getting a package deal where you get to enjoy affordable prices and the widest coverage with Celcom, that is Malaysia’s No. 1 BlackBerry® community. Drop by into any of the Blue Cube outlets scattered nationwide from 3rd November 2010 onwards.

Celcom Exec & Celcom Biz Packages

Check out the two main Celcom packages, the Celcom Exec Packages and the
Celcom Biz Packages and the fantastic offers that come with them. For example, if you decided to get the Celcom Exec “CE250 + BlackBerry® Internet Service” package, you pay RM250 monthly and the device price is RM1388 (12 month contract). If you are running your own business, Celcom Biz provides flexible packages to cater to SOHO and small & medium businesses offering good plans to meet all your specific business needs. For example, with the
“P148 +BB, license (RM38) + SMS Pack (RM2)” package, the cost is RM188 monthly and the device price is RM1488 (12 month contract) or RM1288 (24 month contract).

• Sign up for any of the plans above and you’ll get awesome freebies which include FREE Blackberry Torch casing & LIMITED EDITION battery door cover!

If you decide to sign up for any of the plans, you will receive great freebies such as a FREE BlackBerry® Torch casing and LIMITED EDITION battery door cover. The new Blackberry® TorchTM 9800 has amazing features which I mentioned in my first post. Well, it is worth mentioning here again for your benefit. It is the first smartphone with a BlackBerry® keyboard and a full 3.2 inch touch screen. It also delivers other great features such as:

• Maximized multimedia

Enjoy 8 GB of memory, expandable up to 32 GB with a microSD card. You can get zoom effect and sensational music plus the capability to view full album art and track listings either in portrait or landscape.

• 5 MP camera

Enjoy ease of use as it comes with continuous auto-focus, flash, image stabilization, 11 photo modes as well as video recording.

• Integrated social feeds

Enjoy access and updating all your favorite social networks like Facebook, Linkedln and Buzzd via a single post. Furthermore, you can group and filter your networking activity in one view.

• Faster, richer browsing

Enjoy the ease of multi-tasking and managing multiple open websites with tabbed browsing. In addition, you can bookmark all important sites with branded icons or customizable names from the home screen.

Staying ahead is easy

If you are looking for convenience and the best deals, it makes sense to get Celcom’s BlackBerry®. Celcom gives the fastest, widest and clearest mobile network and also Malaysia’s No. 1 BlackBerry® provider offering the best BlackBerry® smartphones and plans helping you to stay connected anytime, anywhere.

Most importantly, you get to save money with Celcom BlackBerry® smartphone packages tailored to suit your specific needs and lifestyle. Check them out now at
http://www.celcom.com.my/celcomexec/blackberry/bbtorch9800.php

This is a sponsored post by Celcom.

This article is posted at: KCLau's Money Tips

CELCOM BlackBerry® Torch 9800

Joshua Boey read my previous complaint about Digi weird charges, and wrote to me:

I went to Singapore on Sunday, 31st of Oct 2010 for an interview on the next day.

All the time I was calling back to Malaysia using digi roaming. However, during the interview session, my phone was switched off as it was a regulation in the company. During the time, my calls were being diverted into voicemails, and those calls were automatically charged onto my account as I did not deactivate my missed call alert service.

When I arrive back to Malaysia on Monday, I’m surprise to see my unbilled transaction was RM293. After reviewing back on the unbilled transaction online, I found that i was mysteriously charged to calls made to 016-2999902 for numerous times. It is estimated that I was charged closed to RM100 due to these mysterious calls.

I called the digi customer service and they claim that those charges were in fact missed call service charges imposed as my calls were diverted to voice mail. Now, I wasn’t aware that these services will be charged to me and I did not choose or agree upon these services.

When asked, the digi customer service personnel just blatantly say that these are stated in the tnc of the agreement, and I should read the tnc before signing up for the fix line. I wasn’t made aware that I will be signing up for a service which I have no use for and charged without me using it. I seriously hope the people in Digi will be able to rectify this problem as it clearly is a giant loop hole which is favoring them, as the consumers are being cheated without them ever knowing it.

I believe there are more people fell into the same trap just like Joshua. Digi should disable (or automatically disable if possible) the missed call alert feature whenever users go oversea because as consumers, we really hate hidden charges.

Please like this post and share it on Facebook, so that all Digi users are made aware of this.

How to Disable Missed Call Alert and Voicemail

You can easily disable Digi voicemail service and Missed Call Alert by following the steps below:

Step 1: Dial *128#

Step 2: Reply 5 (Mobile Services)

Step 3: Reply 9 (voicemail)

Step 4: Reply 4 (Deactivate Voicemail & MCA)

This article is posted at: KCLau's Money Tips

Another victim of Digi missed call alert charges

THE NEW RULES TO MANAGE MONEY: ½ day financial seminar by a renowned financial advisor and best selling personal finance author, Yap Ming Hui.
In today’s ever-shifting financial environment you cannot afford to manage money the way generations before us have. The OLD money management rules that used to work are now no longer viable. To realistically achieve financial freedom in today’s environment, you need to learn what are the NEW rules to your money management and how you can apply it to everyday life

WHAT IS THIS SEMINAR ABOUT?

The aim of this seminar is to educate the essential skills of money management by applying the “New Rules” in order to navigate in today’s complex world of financial products and services, ultimately to achieve one’s financial goals. Mr Yap believes that Financial Freedom is attainable if you know how to optimize what you have got now, for your future.
This is a “HOW TO” seminar which will empower you to understand your personal finances better, and manage it from a holistic approach. You will learn practical and valuable tips for retirement planning, investment planning, financial security, unit trust, single household income and more during the seminar.

WHAT THIS SEMINAR IS NOT:

This is NOT a seminar to sell you more financial products – i.e. like the ones that the insurance companies, or unit trust sales person tries to impose on you.

WHO IS YAP MING HUI

To date, Yap Ming Hui has advised over RM 800 million of wealth portfolio for Malaysia’s multi-millionaires and business owners. He is the top selling author of 5 personal finance books including MAX WEALTH, THE FAMILY OFFICE: The Super Rich‘s Secret to Wealth Maximization, and the latest Roadmap to Financial Freedom: The Ultimate Guide to Financial Freedom. Yap was a guest speaker on NTV7’s The Breakfast Show, Financial Freedom Minutes aired every Tuesday for 9 weeks running and has his own columns in New Straits Times, Sin Chew Daily and Newman magazine.

Details of the ½ day seminar as below:

THE NEW RULES TO MANAGE MONEY
Date : Saturday, 27 November 2010

Time : 9.30 am -1.00 pm (registration at 9.00am)

Venue : D’Rapport Auditorium, Off Jalan Ampang, Kuala Lumpur (behind Gleneagles Hospital)

Seminar Fee : RM 98 per person only! (First 50 registrants receive Yap Ming Hui’s latest book worth RM 39.90)

HOW TO REGISTER:

Register and make payment online at www.yapminghui.com

Do forward the flyer and invite your family, friends and colleagues. Bring them along! Group discounts available for Groups of 5.

This seminar has also given a lot of participants a great understanding and control over their finances, and investments for their future.

We hope to see you at the seminar! Feel Free to contact Jeamie Lee (Event & Marketing Coordinator - Mobile : 012 3900 048)  should you require any further assistance.

New Rules to Money Management Seminar (click for full size)

This article is posted at: KCLau's Money Tips

The New Rules to Manage Money Seminar

Money = Happiness

I have always believe in the equation above until I reach a point where no matter how much money I have, I could never reach the “total happiness” that I dream about often. I bet each and every one of you has gone through a similar experience like me.

For example, when you were in your early 20’s, having a RM4000 salary per month plus RM100,000 in savings would be the ultimate goal to make you happy. Several years later, these amounts do not seem enough and instead you set a higher target. Let’s say earning RM6000 per month and having RM500,000 to your name. This would definitely raise the level of your happiness, right? Not necessarily.

In a survey done in the USA, people who made $10,000 a year were asked the question, “Who is wealthy and happy?” The response was “People who is making $50,000 a year.” Next, the people who made $50,000 a year were asked the same question. Their response was “People making $100,000 a year.” What do you think the response of the people who made $200,000 a year? Their response was “People making a few millions a year.”

Well, you get the picture. People tend to keep pushing the bar higher and higher which is what most of us do and this is what I do as well.

The real happiness

A person by the name of Dan Baker, Ph.D., stated that “happiness is a side effect of living life in a certain way.”

Happiness is not about getting more money or more things. Happiness is not in the things that you obtained using your money. You will actually find happiness when you live well in your own condition or situation and living a meaningful and fulfilling life. A person needs more than money or things to be happy such as having love, health, spirituality, humor, purpose, optimism, etc. All these characteristics are closely associated with happiness.

Therefore, I have conscientiously stop associating happiness with money and giving equal importance to other aspects to ensure living a balance and meaningful life. If you have money but lack certain things like love and a fulfilling relationship with your family, life will certainly not be as happy and joyful as you want it to be.

Hence if you have been doing the same thing, equating money with real happiness, it is time to stop.

Read other articles by Jacquelyn at WParent.com on parenting matters and Tips4Everyone.com on solving marriage problems.

This article is posted at: KCLau's Money Tips

Money Equals Happiness

Beside the most frequently asked question about how to make more money, this is the second financial challenge most people demands for solution. Most of the dreams you have would have most part of it linked to how much money you saved. Be it a dream to travel the world, or a dream to send your children to study oversea, a substantial amount of money saved beforehand will ensure to fulfill those dreams.

Let’s go through what I think is the three most important things that ensure you to accumulate money seriously.

Motivate your elephant early

Most people give up their long term goal for short term pleasure. You find it hard to keep those two hundred ringgits untouched at the moment you are looking at some high quality fashion at a deep discount. Almost immediately you forgot that you should have save this two hundred allocated for your annual trip savings, which is only needed ten months later.

That’s the part controlled by the elephant in your mind, which is the irrational part of your brain. Your rational part of brain is thinking that you should save RM200 for twelve months then you can treat yourself a nice trip, or whatever is your dream. But the elephant is so huge that is too hard to be controlled by your rational thinking.

That’s why you need to motivate your elephant. Make it go to the direction you want, not following where it wants. And you better motivate it early enough because accumulating money takes time. The longer time you have, the better is your chances to achieve the saving goals.

Pay yourself first

You need to make yourself the first priority. When money comes to you, you have a very important decision to make. You can give the money to other people (paying bills, shopping etc). You can also save it for yourself.

Many people make the mistake of paying other people first. They always put themselves at the bottom of the payees list. That’s miserable because at the end, you will only get peanuts. But how do you ensure that you save first before you spend? That’s why the next component of having an effective saving system is so crucial.

Have an effective saving system

Since you know that it is really hard to ride elephant when it senses danger, you don’t want to let it face those risky moment. Since It is your emotional part of the brain that is holding you back from your long term saving goals, you need to have a system that prevent your emotion to take part in financial decisions.

That’s why an effective saving system always works for most people. Consider the EPF. It is a forced saving scheme. You may feel a pinch when you see your salary statement every month. So much is cut away for your future retirement savings. But there is nothing you can do about it because you are forced to take part in the program.

Why not put such saving system to do more good for you? There are rational parents who take up education saving plan from insurance company almost immediately for their every newborn child. Since it is a commitment to the education funding of their children, they never fail to save and complete the tenure of the plan.

Trust me. These saving systems successfully put the elephants to sleep. Your financial decisions will no longer be distracted by it. Be creative enough, and you will be able to design your own system that works.

Conclusion

As a conclusion – to save more money, you need to start an effective saving system that pays yourself first as soon as possible.

Just start now!

This article is posted at: KCLau's Money Tips

How to Save More Money?

Celcom, Malaysia’s No. 1 mobile operator is also Malaysia’s No. 1 BlackBerry® provider offering the best BlackBerry® smart phones and plans. Owning a BlackBerry® means convenience on the go, helping you to stay connected anytime, anywhere. Receive and check emails from personal and business accounts, view the attachments, browse or surf the net, send instant messages or chat or SMS and last but not least, make and receive phone calls. Do all these with the convenience of one mobile phone, the BlackBerry®.

Wishing to own one? Then check out the latest new Blackberry® TorchTM 9800 from Celcom Exec. It is the first smart phone with a BlackBerry® keyboard and a full 3.2 inch touch screen. It also delivers other great features such as:

• Maximized multimedia

Enjoy 8 GB of memory, expandable up to 32 GB with a microSD card. You can get zoom effect and sensational music plus the capability to view full album art and track listings either in portrait or landscape.

• 5 MP camera

Enjoy ease of use as it comes with continuous auto-focus, flash, image stabilization, 11 photo modes as well as video recording.

• Integrated social feeds

Enjoy accessing and updating all your favorite social networks like Facebook, Linkedln and Buzzd via a single post. Furthermore, you can group and filter your networking activity in one view.

• Faster, richer browsing

Enjoy the ease of multi-tasking and managing multiple open websites with tabbed browsing. In addition, you can bookmark all important sites with branded icons or customizable names from the home screen.

Expensive, unaffordable, unattainable and unavailable?

Not quite, Celcom will be launching the Blackberry® TorchTM 9800 on 29 October 2010. If you are one of the 1st 100 customers to pre-register and make a purchase, you get the following rewards exclusively with Celcom Exec Postpaid plan:

*FREE Jabra Bluetooth Headset worth RM125
*FREE Mircro SD Card worth RM68
*FREE Energizer Portable worth RM58

The best plan for your BlackBerry® – Celcom Exec 50

Celcom Exec Postpaid plan gives you a great package with an uncompromising service. Celcom gives the fastest, widest and clearest mobile network providing you with quality optimum usage for your BlackBerry® . Celcom Exec 50 plan offers you these advantages for a low monthly fee of RM50.

Other benefits that come with the Celcom Exec 50 plan are:

• Enjoy automatic discounts up to 30% every month
• Get 15 sen call rate to any number, anytime and anywhere
• Earn greater savings when you use more of your BlackBerry®, talk more and save more, a win-win deal for you
• FREE Celcom Broadband Basic Plan for one month with speeds of up to 384 Kbps

Can’t wait to join this selective group, pre-register now to get your own personal Blackberry® TorchTM 9800 at http://www.celcom.com.my/celcomexec/blackberry/bbtorch9800.register.php

Don’t forget about the fabulous freebies if you are one of the 1st 100 customers to pre-register and get the new Blackberry® TorchTM 9800. Don’t miss out on a super deal. Log on to www.celcom.com.my to find out more about Celcom Exec customized postpaid plans.

This is a sponsored post by Celcom.

This article is posted at: KCLau's Money Tips

CELCOM BlackBerry

A very common question I received from readers nowadays is “how do I make more money?” Almost every one who doesn’t have enough money would think that having more money will solve their financial problem. That is not always the case. However, having more money certainly give you more purchasing power.

Since there is practically millions of way to make more money, and thousands of books had been written on this topic in practically every niche, I won’t be talking on each of the method here. To be honest, I am not good at every single method. I’m only good at certain methods, and master only one or two. Even the wealthiest person you know makes lots of money by simply mastering one or two methods. Because that is all you need after all.

In this article, I will show you three important things that you should always keep in mind. Hopefully you will start making more money onwards.

Don’t trade your time for money

The rich people don’t trade their time for money. They don’t have an active job. Most of them are not employed. Although there are a few individual that makes a lot of money by giving up their time in exchange of a big salary paycheck, but those people are rare and extremely talented. In Malaysia, you find that some medical specialists, doctors and company CEOs are making a lot more than average people.

However, time is not a renewable resource. If you are immortal, have unlimited time and the health to live forever and work forever like a vampire in Twilight, technically you don’t need to worry about earning more money. There are only 60 seconds in a minute, 60 minutes in an hour, 24 hours in a day, 365 days in a year and the sad fact is that you can only live 30 to 50 productive years.

You have to be very productive with your limited time in order to make more money. If you shift your mindset from exchanging time for wages, it forces you to think of many other alternatives to create residual income.

Add more value to others

The second fact you should know is that money always flow to exchange for value. When I pay you money, I am getting a product or service in exchange. In other words, you are adding value to my life. I paid for an iPhone 4 and it light up my days to be able to use a wonderful phone. I paid for books and get knowledge and pleasure of reading in return. I paid for Digi and Streamyx to get Internet access. My money flow to this places because I want values in exchange.

So in order to make money flow to your direction, you need to add value to other people. If you are working for your company, you are only adding value to one entity. If you are in business, you add values to hundreds of customers. The more values you add to others, and the more people who receive values from your service and products, the more money you will make.

Learn to sell

Money has everything to do with people. To get in touch with people so that money exchanges hand, you can’t avoid selling. I am not trying to define selling and how it is different from marketing here. If I say marketing or selling in this article, it just refers to how well you make people believe, trust, or even love your products, your services, and you as a person.

If you are saying that you don’t like to sell and hate doing that, just bear in mind that you are selling every time you are communicating with other people, regardless of face to face conversation, chatting on the phone or Internet instant messaging.

When you attend an interview session, you are selling yourself to the prospective company to hire you. When you are talking to the girl your like, you are marketing yourself to convince the other party to love you in return. In practically every business, companies and entrepreneurs need to sell. Even when you are attending a meeting, you speak to your subordinates and peers or superiors to sell your ideas. Even in this article, I’m doing marketing to sell my ideas to you.

Every successful people know how to sell. And they master the art of selling. Steve Jobs is one of the most recognized marketers in this decade. He doesn’t make computers, he just sells so great that the best people want to work for him; all people want to buy from him. We buy his ideas, we buy his products, and we love to see him selling to us.

So, how do you make more money almost immediately?

Learn how to sell more valuable things to more people so that more money flows to you without you sacrificing your time.

Does this make sense?

This article is posted at: KCLau's Money Tips

How to make more money?

It has been 4 years since I first started running my ‘I Am Gifted’ Camps for Children and Teens in Indonesia and I am happy and proud to report that it has been a huge success! What our Indonesian students have achieved is way beyond my expectations. I am so proud of them.

After my ‘I Am Gifted!’ and ‘Superkids’ programmes became the leading personal development and learning skills in Singapore, I was invited to bring this life-changing programme to Jakarta in 2006. My partner, Susan Hartawan told me that the children and teenagers in Indonesia would greatly benefit from my teachings of whole brain learning techniques, personal mastery and leaderships skills. Many youths aspire to win scholarships to top universities but lack the motivation and learning skills to bring out the best in themselves.

At that time, I had my apprehensions. I was not sure if I could replicate the same success in Indonesia. After all, the students there may learn different subjects, have different beliefs/values and have very different problems. Of course, the big obstacle was language. Most students are taught in Bahasa Indonesia and my camp was in English. Nevertheless, I decided to give it my very best!

When I conducted my very first camp, I was pleasantly surprised and very impressed with the response from the Indonesian students. They were so enthusiastic to learn and very driven to succeed. Although English was their second language, they did their best to understand what I was teaching and asked questions enthusiastically. They were really hungry to learn these new skills and to achieve their dreams.

After training them, I realized that students all over the world share the same challenges. They too, like Singaporean students, faced the same obstacles in achieving good grades:
a) Laziness and lack of motivation
b) Cannot concentrate and lack of focus
c) Poor memory
d) Inability to manage their time
e) Poor study habits
d) Difficulty in applying what is learnt in answering questions etc…

The Secret of Turning Underachievers into Top Students
Many people ask me how I am able to empower lazy, underachieving teens into highly motivated top students. Well, the first thing I tell people is that I do not change students’ mindsets and behaviours. They are the ones who change themselves. I do not give them any special powers. They already possess the great potential within themselves. I merely show them how to unlock their potential.

What I do is to open their minds to new ways of thinking and equip them with effective learning strategies that allow them to make learning easy and fun. I help them to develop within themselves a high level of self-esteem, empowering beliefs and a compelling set of goals for their future.

Empowering 5,600 Indonesian Youths in 4 Years
After 4 years of starting our programmes in Indonesia, I am very happy to report that we have trained over 5,600 students in Jakarta, Surabaya, Medan, Solo, Semarang and Bandung. The results that our students have produced have been truly inspiring. Not only have they improved their grades after the IAG camps, many of them have gone on to win sports competitions, ASEAN scholarships and scholarships to top schools in Singapore like ACS (independent), Nanyang Girls High and Hwa Chong Institute.

Here is little tribute I have put up for some of my students who I am truly proud of.

An inspiring example is that of Matthew Hartanto. This is his testimonial.

My name is Matthew and I am 15 years old this year. I joined the SuperKids programme on December 2007 when I am still 12 years old. Before I join the programme, I have no self-esteem at all, even talking to stranger. I do not know how to manage my time so I would just spend them on things that i thought would bring me fun.  Learning would just be done when exams are coming near.

After the programme, I felt myself with a higher self-esteem and now talking in front of the public was not a matter anymore. I know how to succeed not only in school, but also in my life. And now, i was able to achieve  the 2nd rank for UN examination for my whole school, always in top 5 in my secondary  and get a school-based scholarship to Anglo Chinese School Independent (ACS) for 4 years.

Besides Matthew, I would also like to honour some of my other students who have achieved significant success after attending the ‘I Am Gifted!’ Camp.

Also a big congratulations to Sharon and Sanzen who won the ASEAN scholarship and Melissa who won the Nanyang Girls High and Hwa Chong Scholarship. Well Done Guys!!!

The Holidays Are Here Again
Well, the year-end holidays are here again! Not only will I be conducting the ‘I Am Gifted!’ Camps in Singapore, but I will also be going to Malaysia (KL and Penang) as well as Jakarta, Medan and Surabaya to help more students realize their fullest potential.

Here are my tour details for the coming ‘I Am Gifted!’ Programme for Students ….

Singapore (Phone: +65 62740105)
22-26 November (age 9-13)
27-30 November (age 14-20)

Malaysia
Kuala Lumpur, 23-25 November
Kuala Lumpur 13-16 December
Penang 3-5 December

Indonesia
Jakarta, 19-23 December (age 9-13)
Jakarta, 18-22 December (age 14-20)
Jakarta, 26-30 December (Age 10 onwards)
Surabaya, 27-30 December (Age 10 onwards)

Celcom continues to uphold its superb performance in telecommunication services by being Frost & Sullivan Malaysia’s Telco of the Year namely 2010 Malaysia Frost & Sullivan Service Provider of the Year, 2010 Malaysia Frost & Sullivan Mobile Service Provider of the Year and 2010 Malaysia Frost & Sullivan Broadband Service of the Year.

Businesses are continuously searching for ways to limit overheads to maximize profitability. The high costs most probably include mobile services as there are very limited options to cater for small businesses. Hence, true to Celcom’s brand vision to please customers and provide good choices and innovative solutions, it has developed customized mobile solutions to cater to every business types. Celcom Biz provides flexible packages to cater to SOHO and small & medium businesses offering good plans to meet all your specific business needs.

SOHO Businesses

For a SOHO business (1 – 10 employees) such as the Suria Shoes KLCC, key considerations include minimizing costs and improving supply chain efficiency. Celcom Biz offers useful mobile solutions that comprise mobile office and fixed wireless solutions to include Blackberry® BoldTM 9700, HP Netbook 110, Celcom Broadband USB stick and GSM Desktop Phone.

There are two options provided to suit your SOHO business with great offers of

• 10 sen flat to any numbers, anytime
• Lowest BlackBerry packages
• FREE GSM Desktop Phone

Option Plan 1 requires RM386 and Option Plan 2 requires RM446 monthly commitment respectively with major cost savings on hardware costs for both plans.

Small Businesses

For a small business that has at least 1 – 10 employees, for example Transview Golf, a dynamic small-sized company, Celcom Biz offers mobile solutions of a mobile office, fixed wireless solutions and unrivalled IDD rates packages. Your small business will enjoy the following benefits:

• 10 sen flat to all numbers, anytime
• Lowest IDD from 10sen/min
• FREE Celcom Broadband Wireless Router (voice & data).

There are two option plans where Option Plan 1 requires RM396 monthly commitment and Option Plan 2, RM148 monthly commitment. In addition, both plans come with incredible hardware costs savings.

Medium-sized Businesses

For a mid-sized business (11 or more employees) such as Poh Yap Holding whose target is to increase cost efficiency, the Celcom Biz hosted email solution proved to be the perfect fit. It provides the company with an email identity with unlimited user access. Therefore, a mid-sized company will enjoy the following benefits:

• Zero Capex Hosted Email Solution
• Zero CAL BlackBerry® Enterprise Server Express License
• 10 sen flat to any numbers, anytime

The above are brief descriptions of the exciting packages being offered by Celcom, Malaysia’s No. 1 mobile operator as part of its vision to offer innovative products and exceed customer’s expectations. Visit Celcom Biz site to learn more about the exciting SME/SMI packages that specifically suits your business type. You may also directly contact the Celcom Biz Account Manager or call 1-800-111-777.

Why choose Celcom Biz?

Celcom has pledged the following to all its Celcom Biz customers:

• Our commitment to serve
• Flexibility
• Best nationwide coverage
• Best global coverage
• Best Customer Service

Log on to www.celcom.com.my/biz to find out more about Celcom Biz’s customized business packages.

This is a sponsored post by Celcom.

This article is posted at: KCLau's Money Tips

CELCOM Biz offers mobile solutions to Small and Medium Businesses

My friend, Mr. Yap Ming Hui the top financial freedom coach is going to conduct the first comprehensive money management workshop in Malaysia.

Make sure you read until the end of this post because you may stand a chance to win a free ticket.

FINANCIAL FREEDOM MASTERY WORKSHOP

Date: 16 & 17 October 2010 (Saturday & Sunday)
Venue: D’Villa Residence, 225 Jalan Ampang, Kuala Lumpur

Workshop Purpose

To equip Malaysians with essential money management knowledge, enabling them to take charge of their own financial destiny.

1. You will learn how to make better decisions to optimise your wealth and minimise unnecessary mistakes when investing and managing your finances.
2. You will feel capable to manage and confidently communicate with financial planners and investment product salespersons.
3. You will understand how to make your investments and financial plans work collectively to support your life goals.
4. You will be confident handling money management issues and leave with a solid investment framework ensuring you manage money rather than money manage you.

What you will learn:

• The truth about Money Making & Money Management
• The Money Management Quadrant: The Truth about Need to Work, Financially Free, Rich and Wealthy

a) How to move from the Need to Work quadrant to the Financial Freedom quadrant?
b) How to move from the Rich quadrant to the Wealthy quadrant?

• The New Way to Manage Money: New Money Management Strategies for the next decade
• 8 pillars of Money Management: How to Apply Effective Strategies and Avoid Common Mistakes in planning and managing:

- Income, Expense and Debts
- Insurance
- Tax
- Investments
- Home Purchase & Property Investments
- Estate
- Children’s Tertiary Education, and
- Retirement & EPF

• How to manage insurance agents, unit trust agents and other financial salespersons?
• How to Optimise Your Wealth without Worry and Fear

- The two ‘truths’ that prevent you from investing successfully
- How to manage your money – the three bucket system

• Segmental vs. Holistic approach to money management
• The 5 Critical Success Factors for Effective Money Management
• Interactive Group Discussion and Exercises
• Q & A Session with Yap Ming Hui
• …and much more!

How to sign up

You can register your seat at Yap Ming Hui’s website. (the last time I checked, there is only 10 seats left). The ticket price is RM1298/pax only (inclusive of meals and course materials), which I think is worth every sen of your investment, because it also includes

• Free current Roadmap to Financial Freedom,
• Free one hour personal consultation with qualified financial planner, and
• RM400 financial coaching service voucher

or you can call Ms. Jeamie (012-3900048) to ask for more information.

She will assist you on the registration process.

Ticket Giveaway Contest

Now, here is a chance to get a complimentary ticket to the event.

You just need to post a comment below by answering this question:

“Why do you think you need to attend Mr. Yap Ming Hui’s Financial Freedom Mastery Workshop?”

The lucky winner will be announced on 5th of October in the comment section below. So make sure you subscribe to the comment.
Kindly note that the winner will not be entitled to the additional bonuses of – Free current roadmap, Free one hour personal consultation and RM400 financial coaching service voucher.

If the lucky winner happened to be a paid registrant, and full amount of RM1298 will be refunded.

Leave a comment now!

This article is posted at: KCLau's Money Tips

Financial Freedom Mastery Workshop (Ticket Giveaway Contest)

Does the proverb “Penny wise, pound foolish” applies to you? Are you good in restraining yourself when it comes to spending trivial amounts of money? For example, being careful not to spend on those small daily items like your morning cup of coffee, the pastry to go with it, the pack of cigarettes, the snacks, etc.

If you answered “Yes” then you have mastered your small spending. However, you may yet to have a better control when it comes to spending the big bucks. It could be the monthly retail therapy you are addicted to where splurging on branded goods is a necessity. For others, they cannot live without the weekend entertainment to hang out with friends at nightclubs and have a nice time. What about those who love to go on expensive holidays overseas several times a year?

It is not difficult to find such a person. Someone with a weakness for something may easily fall into this description. For example, a guy who is passionate about cars may think nothing of spending lots of money on changing cars every few years and equipping his current vehicle with the best accessories that money can buy.

If you are a person who is “Penny wise, pound foolish,” you may get to save some money through small acts of saving money but then will blow away that savings by spending large amounts of money in other ways. You will find it difficult to reach your wealth target unless you re-examine yourself to find out what are your weaknesses. You should reflect on the questions “What motivates you to buy something?” Or “What motivates you to part with your money?”

The answer will vary person to person. It could be one or all of the following:

• You buy or spend to make yourself feel good
• Your friends recommend you to buy
• You want to belong or “fit in” to a certain group or class
• You like the product advertisements

Once you have found the answer, you may be able to clean up your act and become “Penny and pound wise” instead. I admit that I am a “Penny wise” kind of person. I have been “Pound foolish” a few times in my life which happened when I rushed to spend money without taking time to analyze my options and the impact on my finances. So next time, no more rushing for me.

Tell us the time when you are penny wise but pound foolish, if there is any.

Read other articles by Jacquelyn at WParent.com on parenting matters and Tips4Everyone.com on solving marriage problems.

This article is posted at: KCLau's Money Tips

“Penny Wise, Pound Foolish”

This post is dedicated to all my fellow Singaporeans. It is not uncommon to hear fellow Singaporeans complaining once in a while about their gripes about the country. In fact, a quick google search will bring you to forums where some disgruntled Singaporeans complain about the government and why it sucks to live here.

They complain about foreigners invading the country and taking away jobs. They complain about the lack of freedom. They complain about the high cost of living. They complain about business being too competitive. They complain about the pressurizing education system. They complain about the government not doing enough and getting paid to much ($1m a year) etc…

First a disclaimer. I have no political aspirations and political affiliations. I am not being paid by anyone to say this. And no, I am not a patriotic person who goes to National Day parades. This comes straight from my heart… From a person who has benefited so much from being born and raised in Singapore, I believe that if you are born/raised in Singapore, you are really DAMN LUCKY!

Why? Well, I would go so far to say that Singapore is one of the best places in the world to achieve your dreams and to make your fortune (yes, even more so that the US-the ‘land of opportunity’. In fact, if you cannot being rich and successful in Singapore, it is unlikely that you can make it anywhere else. This is one of the easiest places in the world where anyone can become a millionaire, if they put their focus and hard work into it.

Here are some interesting facts.
1) Singapore has the highest concentration of millionaires in the world.
On 17 sept 2009 (see article below). The Straits Times published a report by the Boston Consulting group that showed that despite the financial crisis, Singapore had the highest concentration of millionaires in the world. In fact, 8.5% of Singaporean households have assets of over US$1m, excluding their property. Ranked number two is Switzerland, where only 6.6% of households are millionaires.

2) Singapore has one of the fastest growing number of millionaires worldwide. As you know, the US financial crisis has caused millions of people in the US, Europe, Japan to lose their drops and suffer a decline in their net worth. Yet, from 2008-2009, the number of millionaires in Singapore increased 32.7% according to Merrill Lynch Wealth Management (I am proud in contributing to this statistic by training a few thousand people through my Wealth Academy Programmes).

3) From 2009, Singapore was ranked the fourth richest country in the world as measured by GDP per capita.

All this success did not happen by chance! In fact, it happened against all the odds. Singapore has no natural resources. The country has no gold, oil, rubber, copper, minerals nor land for agricultural use. Heck, the country does not even have enough water to support the population. We have to buy water from Malaysia! Just 50 years ago, Singapore was a third world country that was overrun by communists, opium addicts and uneducated immigrants.

So how did this once impoverished country transform itself into an economic success? It was the result of the vision & beliefs of the people and the business-friendly policies that were put into place. It is these same policies that will allow anyone living in Singapore, no matter where there are, to become rich and successful beyond their wildest dreams.

Why is Singapore a land of unlimited opportunities of people seeking financial freedom?

1) Singapore is a meritocratic society. This means that there is equal opportunities for anyone regardless of race, language or religion. Even if you are born into a poor uneducated family, you have the opportunity to go to the top schools, universities and get any job you want. It is solely based on merit. This is unlike many other countries, specially in Asia, where you have to be born in a rich and well connected family to have a chance. In Singapore, everyone has a chance. Most of Singapore’s multi-millionaires like Sim Wong Hoo, Ron Sim, Olivia Lum etc… were born into very poor families but are worth hundreds of millions today.

2) Singapore has one of the lowest income tax rates in the world and no capital gains tax. Unlike in countries like the US or UK, you pay no tax on profits earned from stock and property investments. (This is the part I love the most)

3) If you start a business in Singapore, it takes less than 2 days and less than $315. No red tape. The first $100,000 of profits earned within the first 3 years is tax free. When you engage business/branding consultants or send employees for training to help your business grow, up to 70% of the cost is subsidized by the government. Very few places in the world support business people the way Singapore does.

There is also the big complaint that Singapore lacks freedom as compared to more liberal countries like the West. I have a different opinion. Singapore may be perceived to have less freedom given its strict laws on crime and expression of speech. However, I believe that in reality, Singapore is provides its citizens much more freedom than any other country.

In most countries, even the US, few people (especially young females) would dare to walk along the streets at 3am. There is a real danger of being mugged, shot and killed. However in Singapore, you can walk along the roads of the poorest neighbourhoods or in the darkest area of the park with no fear at all. That is what I call REAL FREEDOM.

I find it quite sad that it is only the foreigners who come here who truly appreciate the great life and opportunities that Singapore offers. I believe few Singaporeans realize how lucky they are. If all my fellow Singaporeans do not start to appreciate, cherish and love this country they were so lucky to be born into, I fear it will be soon taken away by others who are more deserving.

Often times in my seminars, I like to ask the crowd how many of them are in the business of sales. Usually, I get 10%-20% of the audience raising their hands. It is at this point of time, that I tell them, ” many of you may not realize this…but ALL OF YOU are in the business of sales”. This is because if we want to achieve anything in our life, we must be a master at SELLING’. At this point, sound people would give me a rather dumbfounded look.

If You Want to Succeed in Anything, You Have to Learn How to Sell
I go on to explain. Think about it. Isn’t it true that to achieve anything in life, you have to be good at selling? You have to be good at selling yourself, your ideas and the products/services of your company. For example, if you want to land a job in a top company, having a great resume and top grades is not enough. Ultimately, it is all about the interview! What’s an interview? An interview is a sales pitch. You have usually less than 20 minutes to sell yourself and your ideas to your employer. You have to convince the interviewer why YOU are the best choice compared to the many others who will be competing for the position. If you don’t have the ability to do so, the best written resume and all the years of experience will not get you the opportunity you have been looking for.

The same thing goes if you want to climb up the corporate ladder. In the corporate world, it is not always the most loyal, most hardworking and the most deserving who get the promotions and the increments. Again, those who get promoted the fastest and get paid the highest are the ones who know how to sell their ideas and sell themselves to their bosses. They are able to convince their bosses that they deserve to be paid more and are the best people for the top job. I have seen so many hardworking and loyal people get passed up for promotions simply because they lacked the skill to stand up and sell themselves.

Am I saying that as long as you can sell and talk big, you can get away with anything? OF COURSE NOT! You have to be good at your work and deliver what you say you can deliver, If not, great selling will only get you temporary success and eventual, permanent failure. What I am saying is that you have to be able to do great work and offer great value to your customers. However, if you do not have the skills to sell what is good, then you will never get the results you want.

If you want to succeed in business, you have to be great in sales as well. In fact, the boss of a company has got to be great at selling his vision to his employees, selling his company to investors and selling his products to customers. Whenever I ask people whether McDonald’s or Burger King has the best tasting burgers, I usually get the majority agreeing that Burger King has better tasting burgers.

So, why is it that McDonald’s in 100 times more successful than Burger King? The reason is because the founder and first CEO of McDonald’s (Ray Kroc) was a great salesman and the founder of Burger King was not. Before Ray Kroc created the McDonald’s franchise, he was a top salesperson, selling milkshake makers to restaurants all over the US. It is this sales culture that all McDonald’s employees are trained in that has made McDonald’s the most successful franchise in the world.

Have you ever realized that whenever you order to cheeseburger from McDonald’s, they don’t reply by saying, ‘okay. That will be $x.’ Instead, they follow up with the question, ‘would you like to have a meal with that?’ Then comes the question, ‘Upsize? How about dessert? Toy for just $1?’ They artfully sell and sell until they maximize their profits and the customers gets the maximum value. Its a win win.

The same thing goes in politics. You don’t have to be the smartest, most experienced nor most intelligent person to become elected President of the United States. You have to be the country’s greatest salesperson! Barack Obama is not the most intelligent guy in the US with the highest credentials. They are millions of Americans who have superior IQs with multiple PhDs. He is certainly not the most experienced. His vice-president, Joe Biden and his contenders, John McCain and Hillary Clinton have decades more experience than him. So, why is Obama the President? Again, it’s because he is the much better salesman! He was able to sell his dream to the American people and sell himself as the best person for the job.

If you want to attract the man/woman of our dreams, don’t you have to be great at selling as well? When you went out on dates, those were all sales pitches weren’t they? If you succeeded in selling yourself as their life partner, then you closed the sale! Some people unfortunately never seem to be able to close the sale. Then there are those that close the sale and are asked for a refund later (this is my feeble attempt at humour).

Why Most People Are Lousy At Selling
I have to admit that in the past, I felt very uncomfortable with selling. I did not have a good impression of ‘salespeople’ and felt uneasy asking people to buy things and to hand over their money. I also felt ‘pai seh’ (embarrassed) telling people my strengths. I find this very common among fellow Asians. Our Asian upbringing has programmed us to feel uncomfortable with standing out and selling ourselves. When we are young, we are told not to be ‘hao lian’ (show off) and to geh khiang (act smart).

At the same time, the education system we goes through teaches us almost everything expect the skill of selling. In fact, I have found that the more academically educated that people get, the more self conscious they get, the more they fear rejection (and feel they have something to lose) and the less they are able to sell.

Then, I came to realize that as long as I was uncomfortable with selling and could not sell well, I could never be successful and wealthy. I had a top honours degree from NUS, brilliant ideas and a well written book (‘I Am Gifted, So Are You!’-the first book I wrote on how to be a top student). I also knew all the strategies of how to become an ‘A’ student. However, as long as I could not stand in front of people and sell them my ideas and products well, nobody would ever be convinced to buy my book or sign up for my programmes.

I read of many brilliant academics/creators who developed fantastic ideas and products but never got the success they deserved, simply because they could not sell it well. For example, many people know of the world famous Anthony Robbins who has made millions by teaching millions of people to change their mindset and their lives using life changing techniques like NLP which Tony started with). However, do you know that Tony Robbins DID NOT invent NLP. Tony does not even have a degree (he was a high school dropout). NLP was actually invented by Dr. Richard Bandler, the true genius of human change technologies. So how come very few people have heard of Dr. Bandler and almost everyone knows Tony Robbins? Again, it is because Tony Robbins is a master salesman who was able to convince millions to buy his program his ideas so well.

To cite even another example, McDonald’s was a restaurant that was actually created by the McDonald’s brothers. The brothers were great cooks who developed the famous french fries and Big Mac. Yet, they never become rich or successful. They did not know how to sell their great idea to the world. It was Ray Kroc (a 45 year old salesmen) who saw the potential, bought the rights from the brothers and through his selling skills, turned this little restaurant in California into a billion dollar business with restaurants all over the world. The lesson? You can have all the talent, all the knowledge, all the education. If you cannot sell it, you cannot make anything of it.

Realizing this, I decided to master the skill of selling! Before that, I had to change the negative perceptions I had towards selling. Like I mentioned, I used to feel uncomfortable asking people to buy something and to pay money for it. Then, I came to realize that when you sell something that will truly add value and benefit a person, you are actually doing that person a favour. There is NOTHING to feel uncomfortable about. In fact, you should feel really proud.

I came to realize that when someone pays $3,500 to attend my Wealth Academy program, the knowledge and skills they will attain will help them make 100 times that about, for the rest of their lives! By studying and mastering NLP techniques, reading sales books and attending many sales programmes, I honed my selling skills and used it to turn my ideas into a $20 million-dollar a year business today with 11 best-selling books under my belt!

Selling is such an important skill that I commissioned one of my top NLP trainers (and top salesperson) Leroy Ratnam to head our SALES ACADEMY programme in Singapore. Leroy is a Master Practitioner and Trainer of NLP and a co-trainer in my Patterns of Excellence Programme (based on NLP). To find out more about our SALES ACADEMY programme, call 65-62740105 (speak to Daniel or Aaron) or email: leroy@akltg.com.

B is for Budgeting

Definition of Budgeting: generally refers to creating a plan of all planned expenses and incomes.

I know some people who hate the dreaded ‘B’ word but budgeting is actually a wealth secret because if you don’t know where you are now how can you plan how to get where you want to be? If I asked you to tell me how to get to New York you’d probably ask where are you starting from since your instructions would be very different if I was travelling from London or from Sydney.

So budgeting is a way of knowing where you are now financially by listing ALL your expenses and all your income. I stress the ALLyour expenses because most people know their income but they don’t know ALL their expenses. So I mean even including the coffee you may buy at the local coffee shop or the magazines you buy when going into a shop – everything. It’sonly when you are aware of your income and all your expenses that you can make choices about how you spend your money.

Some people do jobs they don’t particularly like but still have no real idea where their money goes. If you’ve worked hard for your money (or even if you haven’t), you want to make choices that suit you and your goals. I would say that part of your budget could include what you want for your life since knowing why you are doing something can help if times get tough.

So list all your income and expenses. I like to use a spreadsheet but you can use pen and paper or whatever you prefer. I know you may have it in your head but put it all down where you can see it. That’s when you can go through everything and really choose where you want to spend your money. If you choose to spend x amount on a magazine every week as long as you realize that’s your choice then that’s okay.

You can create categories for your expenses such as rent (or mortgage), groceries, bills etc. Some people simply use categories or essential and non-essential. If you are paid in cash you can set up jars or envelopes and split out your wages when you get paid. If you are paid into a bank account you can have a separate account for your essential payments (just be careful with bank fees).

Attracting wealth is not about focusing on what you don’t have but focusing on what you could have. If you have created a tight budget know that it’s for now and not forever. Remember that part of a budget is income so if your income is not as great as you would like think how could you earn extra money? What skills do you have? What hobbies do you have? Think about ways you could use your skills and hobbies to create products or services for other people. People pay to have their problems solved so what problems can you solve? What would your wealth success look like to you? Be open to new ideas.

Remember the last article on abundance - there are enormous rivers of money flowing around the world. How would you like yours to be delivered to you?

Wealth Quote: “There are plenty of ways to get ahead. The first is so basic I’m almost embarrassed to say it: spend less than you earn.” Paul Clitheroe

The first intake of Money Automation System course is officially closed on 31st August 2010. Since then, I still receive email signups everyday on the “join” page. Over a hundred people joined as Charter Member during the one-week launch. Some readers had asked me when is the next launch date. Honestly, I don’t fix a date yet since I am constantly improving the course with the helps and feedbacks from the Charter members.

Anyway, the good news is that there is actually one spot “left”. CK5354 from Your Ultimate KLSE Blog had purchase a spot to giveaway in a contest. If you are interested to find out how you can participate and win the last spot of charter member, visit this page.

This article is posted at: KCLau's Money Tips

Only one spot left in Money Automation System course

A newspaper report caught my eye back in April with the title “Having a rich hubby matters: Ex-beauty queen.” A former Singaporean beauty queen admitted that she would not mind marrying an unattractive man with the condition that he is rich.

Singaporean women prefer men who have money over men who are good looking. This is the result of an online television survey conducted in Singapore. The women choose to have financial stability and a good lifestyle with the chosen man. A man who can meet the woman’s financial expectation has a better chance of being accepted by her. Therefore, the vote is for financial capability over good looks.

Women in the UK

A research done in the UK in 2006 however, discovered that a man’s good looks (physical attractiveness) rates higher than the man’s financial standing provided that the woman is making more money herself. Previously, the majority of women tend to prefer wealthy men. As women become more financially stable or financially independent, their preferences have changed. Hence, they prefer a physically attractive man over his net worth. However, for those women who have less control over their finances, they still prefer a man who is financially stable than one with good looks.

Personally I think that women are more realistic now and take into consideration an important life factor like money when choosing a potential partner. I believe a woman would consider other important aspects as well such as compatibility when choosing a life partner. I have yet to meet someone that got married based on the “money factor” alone. In a lot of cases, couples tie the knot because of love and wanting to spend the rest of their lives together as reported in a separate research done by a UK bank in 2008, which showed that nine out of 10 women would choose love and happiness over money.

What about the men?

Well, past surveys showed that men want good-looking women. There’s no harm to having money though as it was reported that British men (88 percent) are happy to be dating women who earn more than them.

What about you, what is your priority when looking for a potential partner? Is it someone with money, good looks or both?

Read other articles by Jacquelyn at WParent.com on parenting matters and Tips4Everyone.com on solving marriage problems.

This article is posted at: KCLau's Money Tips

Women: Money does matter