by Penny on September 9, 2009
Most of us are familiar with the theory of making our money work doubly hard for us while we actively seek more income. So the cycle continues with us making money, then using that income to invest so that it makes us more money.
Does it stop there for you? What about the income that’s generated from your investments? Do you spend them or do you re-invest them some more so that they too will make you the next level of income and the cycle goes on and on?
I didn’t give much thought about investing and reinvesting the earnings until I started reading a book called The Richest Man In Babylon.
This book came highly recommended by Jim Rohn.
It does make sense that we should consciously make the additional income from investments work doubly hard too. Only then will you be able to generate endless streams of income, which hopefully is somewhat passively earned too.
So what else did I learn from this best-selling book? Well I have yet to finish reading it but considering that I just started, I took away with me 3 ideas on how to manage money effectively.
Continue reading →
by Penny on September 7, 2009
I’ve not touched this blog of mine for slightly more than a month now. Took a hiatus on this one while I focused my energy on other ventures for a while. Was it worth it?
Well yes it was. Now that I’m getting more hands-on and involved in other aspects, I expect I will have more and better contribution to this blog in the very near future.
So don’t think I’ve gone away. I’m about to bounce back and talk more about money related posts very soon!
Meanwhile, I hope you’ve been eyeing the market with a keen eye. Year end is coming and you know how year end period tends be make a merrier and friendlier market.
by Penny on August 1, 2009
When I first started to incorporate Google Adsense into my blog some 1 year and 7 months ago, I knew I was in for a long shot to make some money out of it. But my mindset back then was, so what? Let’s just leave them there and over time, who knows, I might just get some earnings.
I didn’t bother to learn much about how to maximise the earnings until I reached my first $100 after mnay, many months and I very happily made my first Adsense withdrawal via Western Union. Needless to say, I was elated and encouraged. That was back in March this year.
In the months that followed, I worked harder and every month was an improvement over the last with more earnings streaming in. From earning about $60 a month, I went on to make $80 a month and then $90 a month. The increased earnings each month was gradual and I was thankful and grateful enough that each passing month was better than the one before.
Finally, for the month of July I made $100 a month. Again I am elated and even more encouraged to work harder to earn even more than that. I will aim higher and I’ll set a timeframe and target to earn $200 a month. I now believe it’s do-able, it’s just a matter of working on it.
It has taken me quite a long while, I would say, to make $100 a month. It’s been 1 year and 7 months for me to reach here. I don’t want to take another 1 year to make $200 a month. Any Adsense expert out there can share some tips on how to make money with Adsense?
by Penny on July 31, 2009
The Prime Minister has finally launched the much talked about Amanah Saham 1Malaysia (also popularly known as AS 1Malaysia). The sale of the Amanah Saham 1Malaysia units will commence on August 5 and the initial offer period of 30 days will end on September 3.
Unlike other unit trust funds where the minimum initial subscription is 1,000 units, the Amanah Saham 1Malaysia’s initial mininum subscription is 100 units, with subsequent minimum subscription of just 1 unit! Each unit of the Amanah Saham 1Malaysia is priced at RM1.
The fund size totals some 10 billion units, so it seems like there will be quite a lot of units to be going around for sale. However, they are to be sold to the different races according to quotas again. So what’s this about being 1Malaysia? I thought 1Malaysia meant there being no divide amongst races.
Anyway, the quota for allocation of the funds to be sold according to race is as follows:
- 50% to be allocated to Bumiputeras
- 30% to be allocated to Chinese
- 15% to be allocated to Indians
- 5% to be allocated to other minorities
There is no specific mention of the returns of this fund. The only key that hints at a return rate is that it is benchmarked to the 5-year Malaysian government yields, which is currently between 3.7% to 4% per annum.
During the initial offer period, an accountholder is limited to a maximum purchase of 50,000 units if they are aged between 18 to 55 years old. For senior citizens above the age of 55, the maximum purchase is limited to 100,000 units.
Are you interested to buy this? I’m not. For one thing, the benchmarked returns are not satisfactory to me. And I also don’t like the idea of investing into something we are told to be a united trust fund for the country but yet it is still being sold by racial quota!
by Penny on July 31, 2009
I have some current and savings accounts with various banks but they are all the conventional types with hardly any exciting features. The interests paid for those accounts of course are nothing to shout about, any online banking transactions don’t come cheap nor free. That’s one important aspect for me as I hate waiting in queues at banks.
Right now I want to open yet another banking account. I don’t know which one to go for. As far as I know, there are some banking accounts which are a little more exciting than the conventional types with just an ATM card or a passbook. Of course those come with fees too while the ones I have are practically free.
I would like a bank account that allows me to segmentise it into a few different “savings plan” so that I can diligently put money into different things I’m trying to save up for. I know HSBC has one Islamic account that does that. Not sure who else in the market offers it.
I would also like one that allows me to do online banking, if not free then at least very cheaply. AmBank has an account called AmStar Extreme that offers some rebates for online banking transactions. But the problem with an AmBank account is that it’s not really very easily accessible to me as there aren’t any AmBank branches near where I live.
As much as possible, I also don’t want to be charged to keep the banking account. I don’t mind having the kind of account that imposes a minimum balance that will ensure I get the account for free rather than current accounts that will charge you no matter how much balance you have in there.
So anyone has any good experience with any banks for the said requirements above? Anyone has any recommendations as to which bank account to go for to meet my needs?
