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?

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”

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

After cracking my head for the past few years, the Money Automation System course is finally open for business.

First of all, I would like to thank everyone who emailed me for more information about the course. I’ve address some the most frequently asked questions on this page. Also, thanks to those who took part in the contest and help to spread the news.

Why an online course but not a book?

I believe you can learn many things through reading books. But there are many other ways to learn more effectively. Research has shown that most people absorbs better in a workshop or seminar that consist of visual and audio as the medium to convey knowledge. You learn even more by practicing the knowledge and later teach it to other people who need it.

That’s why I make this MA$ course into an interactive online training program. This is to help you learn better and practice at the same time.

Visit the site to find out more.

This article is posted at: KCLau's Money Tips

Money Automation System course is Live

Since I announced about Money Automation System (MA$) last week, the free report had been downloaded more than 700 times. There are also readers emailing me asking questions about the course. This post serves to answer the frequently asked questions about MA$.

If you still haven’t downloaded the report, you can head to the site now to opt in.

What is MA$ course?

I have been working on MA$ course since two years ago. Initially, I thought of publishing the content as a book. My thought still hasn’t changed, MA$ will end up in book form hopefully.

But it got a twist. As I develop the content, I found that a book may not be sufficient to convey the message. I have developed some spreadsheets and worksheets that can be downloaded by members. Some of the lessons are also presented in video format which is proven to be a better teaching medium.

Moreover, I want your feedbacks and participation to make the course a better one. So I make MA$ into a membership site, where premium members can login to access the files, provide feedbacks, and ultimately make the course a better one.

I think it is the FIRST EVER online personal finance course for Malaysians. MA$ content is a complete step-by-step guide to assist you to create an effective money management system. As I believe, most people struggle with their financial matters because they lack a system to manage money. MA$ course is a membership site packed with materials to provide financial education, especially to local Malaysians.

Is MA$ a computer program?

No. It is not a computer program or software. MA$ is an online course.

What will I learn in MA$ course?

In MA$ course, I talk about how setting up a system is important when managing money. You will learn the following:

1. Three important steps in the process of setting up your own money management system.
2. Money flow process and why we need to systemize it and make it automated.
3. Common financial traps most people fall into and how to avoid them when you have a proper system in place.
4. Set of criteria and decision-making process that are effective when come to making financial decisions.
5. Case studies and discussions on debt elimination, making more money, enjoying life etc…

Basically, MA$ course teaches about how to manage your money in a systematic way.

Will MA$ help me achieving financial freedom?

Everything MA$ course recommend you to do is going to help you get closer to financial freedom.

However, there is no guarantee because we are the one who are responsible for our own financial success. I can recommend what you should do, but I can’t point a gun on your head to force you do it.

How much do I need to pay to enroll as a MA$ member?

The enrollment fee is not yet decided. I am still contemplating on this issue because if I charge too high, those who are already in financial difficulty will miss out the opportunity to take part in this course. If I charge too low or provide it as FREE stuff, some people may take it for granted. I don’t want to attract internet trolls (someone who posts controversial and usually irrelevant messages in an online community, with the intention of baiting other users into an emotional response).

Although the price is yet to be decided, it will be in the range of the price you pay for buying a few books. If you took part in the MA$ survey I did back in February 2010 and opted in the early bird list, you are guaranteed a spot with the lowest price ever.

What is the duration of MA$ course?

You can go through all contents and assignments in about 5-8 weeks. The content will be released and published in the members’ area stage by stage. However, you can always go through MA$ course on your own pace.

When are you launching the MA$ course?

It will be first offered to those who participated in MA$ survey before. If you did fill up my survey forms, I would like you to have the first peek. You will get a special one-time offer in these few days. So watch out for my personal email.

If everything goes as planned, MA$ course will be opened for new signups from 24th August till 31st August, 2010. Then the membership door will be closed until further notice. This will allow the first batch members to complete the course stage by stage. I may open MA$ course again in the future but the membership fee will definitely be higher.

Is it a lifetime membership?

At first, I thought of only committing to serve the members for one year. But in the middle of creating the content, I found that the content can be updated from time to time according to circumstances. So I have decided to provide lifetime access to members as long as MA$ course is still alive. You only need to pay the upfront membership fee once to enjoy the lifetime access.

Who is suitable for this course?

This is for you if

• You find it hard to control your spending — you want a step-by-step system to help take control of your emotions and to cope with the urge for instant gratification.
• You are not sure of what is the best thing to do with your money. You want detailed recommendations on maximizing your wealth. You want to have the maximum result by putting your money to work. But you seem lost and confused about the choices available to you. This course guides you to create a system to automate your decisions.
• You have credit card debts and find it difficult to cope. This course will definitely help you set up a debt elimination system.
• You are a fresh graduate, looking for a complete guide to manage your finance. This course directs you to the right path, avoiding all the costly mistakes.
• You are too busy with your job or business. This course provides guidance to squeeze out more free time for you to enjoy life.

This isn’t for you if

• You are doing great financially and think that you have learned all you need to know about money.
• You’re looking for a magic bullet to earn income. This isn’t a get-rich-quick scheme. This course is to guide you to create your own system, not spoon-feed you one.

The winners are…

In the previous post, I announce a contest. I would like to thank everyone who had participated and help to spread the news. There are many insightful comments posted on the “broke geek” article.
Now, here are the winners:

1. Awin is going to get the first membership spot of MA$ course. Awin is facing financial difficulty and I wish that this course will take her back on track really soon. Congratulations!
2. Jeiyaraj is going to get the latest book by Azizi Ali – Get Rich Fast. Congratulations!

Winners will be contacted through email.

Another chance to win a lifetime membership spot

I hope the above had answered most of your doubt. Please wait for my email announcement soon.

If you haven’t sign up to receive emails about MA$ course, please head over to MA$ page and enter your email.

I am going to giveaway another membership spot of MA$ course. You can enter by doing the following:

• sign up at Money Automation System to download the MA$ report totally free if you haven’t done so. (2 entries)
• write a comment below (2 entries)
• share this post at Facebook. You can copy the url of this post and share it on your Facebook wall. Or simply use the “tell a friend” or “share this” buttons below. (1 entry)
• share the link http://moneyautomationsystem.com at your Facebook wall. (1 entry)
• “Like” my Facebook Page. (1 entry)
• “Like” this article. (1 entry)

Hope to see you inside.

Update 2 September 2010

The first charter member launch of MA$ course is finally over. We have got more than a hundred members. Most members are interacting and helping each other in the member area. Only 9 days and there are more than 500 comments being posted. We are all getting excited and motivated to improve financially.

Congratulations to Tham KH who won the free membership access in this contest. See you guys “inside”.

This article is posted at: KCLau's Money Tips

Top Questions Answered about Money Automation System & the Winners are…

Attending seminar is a great way to get close and learn from gurus. One of the best financial planners in Malaysia, Mr. Yap Ming Hui is going to give a public talk on achieving financial freedom in Kuala Lumpur.

Don’t miss out on this opportunity to learn from the one of the brightest local financial planner.

Details of the event:

Roadmap to Financial Freedom Seminar

Date: Saturday, 4 September 2010

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

Venue: D’Rapport Auditorium, Jalan Nipah, 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)

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 also learn practical and valuable tips for retirement planning, investment planning, financial security, unit trust, single household income and more during the seminar.

Who is Yap Ming Hui

• To date, as a renowned financial coach and advisor, Yap Ming Hui has advised over RM 800 million of wealth portfolios 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. I read every word printed on his books and I can say that Yap Ming Hui is definitely one of the brightest financial planners in Malaysia.
• 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.

HOW TO REGISTER

You can register and make payment online at Yap Ming Hui’s website.

Roadmap to Financial Freedom Seminar by Yap Ming Hui

This article is posted at: KCLau's Money Tips

Roadmap to Financial Freedom Seminar by Yap Ming Hui

One Sunday afternoon in October 2008, I met a geek at the Switch Store (an Apple products retailer) in a shopping mall.

I was browsing the apps installed on the demo iPod Touch. A short chubby guy in plain white T-shirt came in and walked straight to the tall male sales assistant.

“Do you sell iPhone casings?” asked the chubby guy, taking out his brand new iPhone from the right pocket. Obviously, the iPhone was brought in from oversea because it is not yet available in Malaysia at that time. I knew it because I had one too, bought in Hong Kong.

Being eager to interact with someone who possesses a rare gadget, I approached him and introduced myself as an iPhone fan. Shortly after that, we were chatting enthusiastically on the couch at the nearest Starbucks.
That is how I met Steven, a 22-year-old Apple geek.

Steven is a hardcore fan of Apple. Beside the iPhone 3G, He owns an iPod Touch, a Macbook Pro, and also an iMac.

“It must be fun to own all these wonderful invention.” This is the statement that sparks the conversation to reveal Steven’s financial worries.

Knowing that I am a personal finance author, he told me more about his financial situation to seek for advice.

After 30 minutes of hearing his stories on how he got into credit card debts, he said, “I am thinking of getting a personal loan to pay off these credit card debts. What do you think?”

Before I tell you my response to his suggestion, let me summarize his situation as below:

• He has two credit cards, maxed out the total credit limit of RM12,000
• Besides all the Apple gadgets, he also bought a 40” Sony LCD TV and also the Sony Playstation3, all on 24 months easy payment scheme. It is because of all these gadgets that he can’t afford that put him into credit card trap.
• His monthly cash flow is very tight. The monthly salary he receives is barely enough to pay for all his expenses including the credit card minimum payments.

I am curious that since Steven has no savings, how he got the cash to buy the iPhone 3G from oversea. It turned up that he maxed out his second credit card by withdrawing cash advance to pay his friend who helped to buy the phone at Singapore.

He used to enjoy all these gadgets but when it comes to the due date to pay credit card bills, it was a nightmare!

Imagine that you are in Steven’s situation, what would you do?

Most people will do some of the following actions:

• Cut expenses drastically (stop eating out, surrender insurance policies, say “no” to all entertainment and social activities etc).
• Take up a part time job.
• Cut the credit cards with a pair of scissors.
• Choose to ignore the problems as long as there is no legal action yet.

I told Steven that there are many solutions to his financial trouble. There are many actions he can take. Some are effective and some are not. Most of the actions are not enjoyable. But the most important action is to set up a system.

He did set up a system.

The system he follows is very simple, but extremely effective and efficient.

It is elaborated in the FREE report I just created. You can download the report at Money Automation System.

Win the FIRST member spot and a copy of the latest book by Azizi Ali

I have been working on the Money Automation System course for many months. It is about to be completed.

Get Rich Faster by Azizi Ali

I would like to giveaway a copy of Azizi Ali’s Get Rich Faster and also the FIRST member spot to you. You can enter the contest by the following methods:

1. sign up at Money Automation System to download the MA$ report totally free. (2 entries)
2. write a comment below (2 entries)
3. share this post at Facebook. You can copy the url of this post and share it on your Facebook wall. Or simply use the “tell a friend” or “share this” buttons below. (1 entry)
4. share the link http://moneyautomationsystem.com at your Facebook wall. (1 entry)
5. “Like” my Facebook Page. (1 entry)

I will announce the two winners in the comment section below next week. One of you will win a lifetime membership to my personal finance course – Money Automation System.  Another winner will get Azizi Ali’s book. Please make sure you subscribe to the comments.

Thanks for your participation.

This article is posted at: KCLau's Money Tips

How a Broke Geek Settle his Debt and still Own the latest Apple Products