AirAsia Free Seats - Sept 2011

Yes, AirAsia crazy free seats is taking off come this mid nite on 21st Sept 2011. Get ready and find out more from below.

To better prepare yourselves for tonight's booking process, check out the full list of destinations here

AirAsia: Travel 2 in the price of 1

Wow, this is another fantastic offer thrown out by AirAsia. Check it out!

Popular Bookstore Sale

Book sale. Well, school holiday is just around the corner.

Caring Pharmacy

Recently I dropped by to Caring Pharmacy to purchase some items. What I want to share is that as I just discovered they allows instant redemption point for BonusLink members. A service that would gives a lot of BonusLink members a chance to maximise their accumulated points for health investments. You can save money as no cash involved in the redemption process. Not to mentioned you can collect points at the time as well.

They have 40 retail pharmacy outlets in Klang Valley.

Managing money doesn’t restrict freedom

I read this article from Get Rich Slowly and found it very interesting, useful and practical. Most important the author actually have used it and found it works for their life. Here is the part article for reading.

The JARS Money Management System
Then we started using the JARS money management system discussed in Secrets of the Millionaire Mind.

How to use the JARS system
Here are the jars and a short description of each one.

• Necessity account (NEC - 55%): This account is for managing your everyday expenses and bills. This would include things like your rent, mortgage, utilities, bills, taxes, food, clothes, etc. Basically it includes anything that you need to live, the necessities.
• Financial freedom account (FFA - 10%): This is your golden goose. This jar is your ticket to financial freedom. The money that you put into this jar is used for investments and building your passive income streams. You never spend this money. The only time you would spend this money is once you become financially free. Even then you would only spend the returns on your investment. Never spend the principal.
• Education account (EDU - 10%): Money in this jar is meant to further your education and personal growth. An investment in yourself is a great way to use your money. You are your most valuable asset. Never forget this. I have used education money to purchase books, CD’s, courses or anything else that has educational value.
• Long-term saving for spending account (LTSS - 10%): The money in this jar is for the bigger nice to have purchases. My wife and I have used the money from this account to go skiing in The Rockies in Whistler, BC. We also used this money last September for our trip to Italy and Switzerland. The only reason we’ve been able to make this happen is because we’ve accumulated a nice sum each month in our LTSS. A small monthly contribution can go a long way.
• Play account (PLAY - 10%): This is my favorite account. PLAY money is spent every month on purchases you wouldn’t normally make. The purpose of this jar is to nurture yourself. You could purchase an expensive bottle of wine at dinner, get a massage or go on a weekend getaway. Play can be anything your heart desires. My wife and I each receive our own play money, and here’s the best part. We’re not allowed to ask what the other person spends their money on.
• Give Account (GIVE - 5%): The money in this account is for giving away. Trisha and I give money every month to the Sick Kids Hospital Foundation. We also use the money in this jar to give to family and friends on birthdays, special occasions and holidays. You can also give away your time as opposed to giving away money. You could house sit for a neighbor, take a friends dog for a walk or volunteer in your community.

How the JARS work
Here is a sketch of how we use the jars. Actually, we don’t use jars at all. All of our accounts are electronic savings accounts with our necessity (NEC) account being the only exception; it’s a checking account. Trisha and I deposit all of our personal income into our necessity account. The money in our necessity account pays for all of our expenses. The remaining money is distributed into five other accounts.

I learned very early in the process that the jar percentages are not critical. To guarantee your financial success, just start using the system and build the habit. This is the key. It doesn’t have to be perfect when you start.

Managing money doesn’t restrict freedom — it creates freedom.

On the hunt for ASW2020

long queue outside the Maybank

It was not a fruitful afford while trying to get hold some of the new additional Amanah Saham Wawasan 2020 funds which was open for public yesterday.

I started to queue along with the crowd about 9.30am at my housing Maybank branch. The bank opened about 9.15 am. Each person was given a number to wait for our turn. I managed to get number 101. By the time 11.30am, it only managed to processed 15th costumer due to the busy online transaction. I can't wait any longer so I off to IRB office for my next to do list - submitting my income tax e-filing.

When I came back later about 1.30pm, the officer said the funds is already finished. The next day radio news mentioned that non-bumi quotas was snap up within 4 hours. My friend who managed to purchase the fund, started to queue at 7am. This I learn my lesson well. Early bird catches the worms. I lost my worms.

Additional ASW 2020 offer

For those who are looking for stable investment fund especially with government backing, Permodalan Nasional Berhad (PNB) has good news for it.

PNB will offer an additional 3.33 billion units of Amanah Saham Malaysia from April 21 and 2.0 billion units of Amanah Saham Wawasan 2020 from April 27. The maximum allowed per investor is 20,000 units. Both selling at RM1.00 per unit.

Both funds are income type where it is open to all Malaysian who are:-

(a) 18 years old and above (Adult Account)

(b) Minors from 6 months to below 18 years old (Teenage Account)

ASW 2020 is purchasable through investment book, certificate and/or via EPF. ASM only purchasable throuh investment book.

For more details, see ASW2020 and ASM.

Tesco cuts prices

Tesco Stores (M) Sdn Bhd is permanently cutting prices on 200 essential grocery and fresh market products, the hypermarket’s chief executive officer Chris Bush said.

“This is not a promotion that will end in a week or a month, but a long-term price cut where 200 essential items will see an average discount of about 8%, which is a lot for fresh goods and groceries,” he told a media conference at Tesco’s head office in Mutiara Damansara yesterday.

Tesco hopes to achieve this by helping customers spend less at this time of economic recession.

Marketing director Paul Morris said that to ensure that the most important and relevant products were made cheaper, purchasing trends were tracked using the store’s loyalty cards.

“The chosen items are things that always appear on customers’ lists, such as fresh fruits and vegetables, poultry, spices, sauces and baking goods,” he added.

Fuel rebate ends on April 14

As reported in The StarOnline, car owners will be able to continue collecting their fuel cash rebates from post offices until April 14. Pos Malaysia Bhd said the claim period was to have ended on March 31 but the Government had agreed to extend it for another two weeks.

So last call everyone!

Lower EPF dividend for 2008

The Employees Provident Fund (EPF) Board today, with the approval of the Minister of Finance, has declared a dividend rate of 4.50 per cent for 2008. 2007 dividend was 5.8 percent. The lower dividend rate compared to that of 2007 is due to the increase in investment provisioning resulting from the sharp decline in global equity prices brought about by the worldwide financial crisis.

Despite the financial meltdown, the EPF recorded the highest ever earnings of RM20 billion in gross income for 2008. This represented an increase of 9.36 per cent over the previous year’s gross income of RM18.29 billion.

Dividends will be credited to members’ accounts on 23 March 2009.

For details, please read here.

MPH Stock Clearance

I definitely don't want to miss this opportunity to expand my books collection this year. But neither I wan to caught in the crowd. Need to make it this week days somehow.

2008 Tax Submission

Inland Revenue Board (IRB) informed that this year there will be no issuance of Form 2008 for BE, B, P and E from their office to individual. Instead the e-Form 2008 is available from 1st March 2009 onwards for taxpayer to start filling in their submission via e-Filling.

The deadlines for form submission are as follows:-
Form BE 30 April 2009
Form B 30 June 2009

After checking IRB website, the e-Form was indeed readied. Well gotto prepare, compile and submit my form by the end March 2009 if all attachments is available. I received my EA form last week from my employer.

Reduction in loan repayment amount

As reported in TheStar Online today, banks will automatically reduce the loan repayment amounts of their customers and this will be completed by the first quarter of this year, the Association of Banks said.

The reduce repayments was now possible following Bank Negara’s announcement of the reduction of the Overnight Policy Rate on Tuesday. That move would bring about the reduction of the base lending rates (BLR). All commercial banks had agreed to cut loan repayment amounts across the board while maintaining the loan repayment period. Borrowers who wish to maintain their current loan repayment amounts need to get in touch with their banks immediately.

For further details, please read here the Association of Banks' statement

I personally think that was really a great move by ABM in considering the board public burden in such a challenging time. News of more retrenchment is making a lot of people uneasy and concern of their next income. Bravo.

Big saver

It was a well worth hunting that we did last Sunday that finally enable us to save...... a bit more to the wallet.

Few days before that the very essential breast pump we need around for Reanne was accidentally broken. Mummy was very frustrated. First because the pump was a bit costly tools which we brought it during Ivan breastfeeding period. Second, since it was broken mummy enable to extract milks for storage. So, it was pretty urgent to quickly get a new one.

We start an immediate search for it. It was not that the breast pump was difficult to find. In fact it was a very popular brand i.e. Avent which is available at most baby stores. The problem is that we wanted to safe as much for this re-investment. Retail priced at RM219 just for the pump set. Unfortunately we can't find any at Jusco, Parkson or other baby stores around our Kajang area even though it was sales period.

Then mummy found out that Babyjaya at Damansara Utama offered 20% discount for the specific pump that we are looking for. We waited until Sunday after worship service to drop by. It was our first time visiting the store. Thanks to my brother direction (whom been there before), we manage to found it. There it was......unbelievable only RM189. We just save ourselves RM30.

On the other hand, we also found something that we have been trying high and low looking around for. A multi purpose hook (RM17.90) to be added to the baby stroller. Talk about hunting for treasures.

Surely Babyjaya is quite a place we want to recommend for finding great products and bargains. Anyway they are still having sales promotion until 11th Jan 2009.

1st 2009 good news

As reported in TheStar, employees will enjoy more goodies in the form of new tax exemptions for a host of things, as announced in the Budget 2009.

Taxpayers who receive petrol, parking and travelling allowances can now claim tax relief of up to RM6,000 a year.

Parents can also claim up to RM2,400 a year for childcare fees, while exemptions are also provided for telephone and handphone, pager, Personal Data Assistant (PDA) and Internet subscriptions.

Those claiming for medical benefits could also enjoy tax relief for maternity expenses and buying and seeking traditional medicines and services respectively. They include ayurvedic and acupuncture treatments.

The first sign of goodness in the beginning of 2009. For further details, click here to view the 2009 Budget.

8% EPF option really means...

I never and didn't thought of it until my colleague sent this info regarding EPF contribution to be automatically reduce from 11% to 8%. The government will enforced it two years from January 2009. Those who choose to maintain the higher 11% are required to fill up form. And I definitely chose 11%. Why spend the future money for present mere little 'extra' spending power.

Lets try to imagine, assume monthly basic salary is RM4,000.00

Scenario A

If your opt for the extra 3% (RM120) to be deposited in your wallet, in a year only a peanut RM1,440. Tell me what can you do with it. Wait till you see what happen in Scenario B.

Scenario B
If your monthly EPF contribution is 11% (RM440), taxable income = RM3,560, income tax payable = RM77.

If your monthly EPF contribution is 8% (RM320), taxable income = RM3,680, income tax payable = RM109.

Conclusion
If you choose to contribute 8%, you will end up paying more income tax to the government, which will make the government richer. Finance Minister said this measure is meant to boost up the slow-down market, but from this example we see that the money does not go into the market. Instead the money goes direct into the government's pocket through the greater amount of income tax that we will have to pay.

A card you mustn't not own

After the recent episode with Ivan being hospitalized, I realize the insurance medical card is a card family mustn't not own.

Two years ago upon the arrival of Ivan, I decided to purchase an insurance medical card to hedge up my family protection. Both Pei and I already have own life and health insurance policies. So it is wise to also protect our children.

What I can says is that the medical card does really help as we have gone through it already. The amount of hassle have been significantly reduced especially the medical bills. For Ivan case, we only have to fork out a mere 5% of the total medical bills (for registration fees, tax etc) when we check out from the hospital. 95% of it borne by the insurance company. You got to choose to enter a list of private hospital immediately when emergency do crop up just by producing the insurance medical card. The hospital will do the rest for you.

While I was accompanying Ivan in the hospital ward, a mother whose son was being admitted for prolong fever shared a same room with us said that she should have purchase the medical card earlier but did not. She is actually looking already unfortunately her son falls sick before she can purchase it.

I recommend all family should start to look into this area if you have not. Start with what you can afford. Survey several insurance companies and discuss with the respective agents to tailor suite for your family needs. Begin with some protection rather than no protection.

Squeezing the drop

Crude oil has fallen below USD 60 per barrel as I discovered this morning through radio while on my way to works. What would that translate to in social economy sense or cents?

The last I check since the recent last petrol price reduction to RM2.15 per litre, my Avanza mileage consumption is RM0.18 per kilometer. Before it was close to RM0.22 per kilometer (based on RM2.70 per litre).

Can my wallet retain longer from now on?

Cheaper roti canai. Really?

After reading yesterday news saying that consumers in the Klang Valley have reason to smile as the prices of nasi kandar, teh tarik and roti canai are being reduced immediately. So I decided today for another round of roti canai as breakfast. It is reported Nasi kandar will see a reduction of 20 sen a plate, while roti canai (and other roti items such as roti telur, roti pisang, etc) and teh tarik will see a reduction of 10 sen each.

Guess what? I am not quite smiling after looking at the bill. Roti canai is still RM0.90 a piece in my office area at Seri Kembangan. Curiosity take the better hold of me or I should say dissatisfactions. I opened my mouth and asked the operator "isn't that Government had said roti canai has been reduced?". The operator can only smile at me.

I guess I don't really have a good reason to smile this morning. Maybe the restaurant operator does because he did it to me.

Malaysia rated "high risk"

I don't know but to incline my thoughts more to the following report done by a non-Malaysian consultant in relation to the financial crisis the world is facing now. We are at "risk" they said. But, but, but..... our Finance Ministry said the otherwise.

Most often then not, third party evaluation on us (whether as individual or corporate) tend to carry more weight than our on assessment. We sometimes thought we know ourselves very well inside out. But others view is important also as check and balance. If both views stand comparable, then no worries should arise. Important is we get the true picture so that we are able to prepare and face the situation. So are we well informed and prepared?

Malaysia is rated as "high risk" while Singapore is well-positioned to weather the economic slowdown because of its political and social stability, says Hong Kong-based Political & Economic Risk Consultancy.

Its analysts ranked Singapore as having the least political and social risks next year among 16 territories in Asia-Pacific, according to a summary of its 87-page report released to the media yesterday. Malaysia, Thailand and India were ranked as the most risky because of internal developments.

The report found that while Singapore, Hong Kong and Australia could be hurt the most by the crisis, they were the most stable politically and socially.On a scale of zero for the least risky to 10 for the most, Singapore scored 2.76, followed by Australia (2.9) and Hong Kong (3.23). Most risky are India (6.87), Thailand (6.28) and Malaysia (6.07). They are vulnerable not so much to the financial fallout but due to internal developments, the report added.

Further details from The Straits Times, Singapore.