Browsing: Financial Advice

How To Check if You Are Blacklisted by PTPTN?

Are you a PTPTN borrower? Have you graduated? If your answer is ‘Yes’ for both questions, my next question would be ‘Have you start paying your PTPTN study loan?’ I hope your answer is ‘Yes’ too. Else, you might get blacklisted by PTPTN. And if you get blacklisted by PTPTN, your name will be under Travel Blacklist too, which means that you are not allowed to travel outside of Malaysia. 

Imagine you and your family had been preparing for the dream winter vacation in Hokkaido, Japan. While at the International Departure immigration clearing gate, you steadily handed in your NRIC and passport but then you received the shock of your life when the officer tells you that your name is blacklisted and you are not allowed to leave the country. You got angry, frustrated, ashamed, devastated.. You can have all the feeling but it is useless because you will need to make arrangement to settle your PTPTN study loan.

To avoid this from happening, you must check with  PTPTN if you are under PTPTN blacklist. There are 4 ways to check if you are under PTPTN blacklist:

Just enter your 12 digit NRIC numbers (without dash). If you see the status is ‘Tiada Halangan’ (No restriction), it means you are not barred from leaving the country. 

3) Call PTPTN Careline at 03-21933000 (operation hour: Mon-Sun, 8am-10pm)

4) Visit to your nearest PTPTN office or Immigration Department office. Also notice that there is PTPTN office at KLIA2 (operation hour: Mon-Sun, 24hours). 

If you suspect your name is under PTPTN blacklist, I suggest it is best to call PTPTN Careline or walk in to your nearest PTPTN office. Of course, the best would be start paying your PTPTN study loan. If you are not able to do so, talk and find a solution with PTPTN officer. Be a responsible rakyat!

photo credit: quinn.anya Student debt ruined me! via photopin (license)

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When Should You Get A Personal Loan And Not A Credit Card?

If you’re looking out for some extra cash, both personal loans and credit cards can be great financial tools to help you get the funding that you need. But the first thing is for you to be clear on what you’re taking a personal loan or getting a credit card for. Essentially since you are borrowing money that you don’t have yet and that can lead to some serious financial repercussions.

However there are times when a personal loan trumps a credit card and here’s what you need to know before you choose which one you want.

1) Personal Loans Have Lower Interest Rates Which You Can Use For Larger Purchases
If you need to borrow a large lump sum of cash which you can’t pay off quickly, you should get a personal loan. This is because personal loans offer lower interest rates that most credit cards For example, the interest can vary from 4% to 9% p.a. for personal loans versus 8.88% to 18% p.a. for credit cards. Think about it, if you can’t pay the money back immediately, you’re going to be looking at some very hefty interest charges on your credit card.
2) Personal Loans Can Be Used To Consolidate Debt
A personal loan can be a means for you to get a fresh start on your finances. By consolidating your debt with a personal loan that offers a much lower interest rate than paying multiple loans and credit cards at the same time, you get to simplify your debt and regain control of your financial situation. While you CAN do this with a credit card (0% balance transfer, cash advances and etc.) you might want to consider the following facts first.
3) You Can Only ‘Borrow’ As Much As Your Credit Card LimitMost credit cards have a credit limit which is set for you by the bank based on your credit history and your level of income. So depending on what your credit limit is that’s only as much as you’re going to be able to use to fund whatever it is you want to do with the money. And that’s not to say that personal loans will instantly loan you the money, as the banks will still evaluate your debt service ratio to ensure you can pay them bank before they disburse the loan.
4) Credit Cards Require Much, Much More Discipline
Imagine this: you’ve made your purchase and now you’ve spotted something else that’s caught your fancy. You’ll just add it on to the credit card’s bill and pay it all off later, right? Wrong! Just because you aren’t literally handing over cash for something, doesn’t mean you’re not spending it.  From a psychological perspective, a personal loan makes you feel the pinch more than when you’re out and about freely swiping a credit card. After all that’s cash that you’re taking out of your account, whereas with a credit card, you’re just adding debt by spending money that you don’t have. And make no mistake; if you let your credit card spending get out of hand, you face the risk of falling into major debt.

There you have it! Those are the reasons why a personal loan can be a better financing option than getting a credit card. Why not check out this free personal loan comparison tool by to find the best personal loan deals in Malaysia today?

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Gen Y: Three Simple Tips To Improve Your Financial Responsibility

In the Malaysian society, there are vast opportunities for job employments and innovative business start-ups for Gen-Y. You just need know how to follow the money. With that being said, it should be a breeze to stash away your funds right? No! There are hidden bills, costs, expenditures and the declining rate of the ringgit currency (RM) doesn’t help either. The hope of earning your first million before your thirties may slowly fade away. The transition towards adulthood may be exasperating, especially for young adults who have not mentally prepared themselves for the financial responsibilities that awaits them. But fear not! Here are 3 tips to be the financially-savvy Gen-Yer that you are meant to be.

1) Increase earning power
Getting a job with good growth prospect can push forward your earning power. Once you have a steady income, the more you can afford to spend. Learning is never-ending, so remember to constantly pick up new experiences and knowledge throughout your job tenure. It is important to fit your goals and values to the business direction. Not only will your job satisfaction increase, your performance at work will also show a significant improvement. This increases the chance of a job promotion too! On the other hand, if you are looking to be an entrepreneur, a start-up is a proven method to push up your ability to make money. However, bear in mind that starting up your own business is a 24/7 job that requires drive, passion and skills. It will not be easy but the benefits reaped are definitely worthwhile.

2)  Own a credit card

According to, William J. Schroer mentioned that one in nine Gen-Yers owns a credit card co-signed by a parent. The significance of credit cards is highlighted in this world full of technologies. Without it, many people suffer paying huge expenses by cash. You need to know your spending habits to be a financially responsible adult. For example, you prefer to redeem weekly rewards after swiping your card. Getting the best rewards credit card in Malaysiato gain points and enjoy rewards for each transaction you make. Besides earning reward points, reward credit cards give you great cashback too! Disclaimer: Do keep track of your daily spending to avoid swiping your card too frequently.
3) Take measured risks

What does it take to be financially independent? You need to define your own goals and achievements. 90% of the Gen-Yers are assumed to have savings account since a young age. Despite so, keeping money in the bank does not guarantee financial success. Step outside of your comfort zone and invest in valuables you deem worthy such as properties, gold, shares and education. Yes, you heard it right! Education is a long-term investment that gives you a well-rounded aspect in life. Quoting Nelson Mendela, he reiterates that ‘education is the most powerful weapon which you can use to change the world’. Do plenty of research before taking the risk and you are destined for financial success! With these pointers in mind, create your own set of objectives in life and put your plans into action. If you want to invest, never put your eggs into one basket, diversify your investments and get a good financial mentor. If you a searching a credit card that provides you with rewards and gifts, get a rewards credit card that gives you the best of both worlds – saving money while you spend! That is all it takes to be a financially stable Gen Y adult. What are you waiting for? 

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How To Stay On Financial Track?

One of the hardest thing on financial management matter is to be able to stay on financial track all the time. To periodically check and monitor on investment portfolio, to diligently put aside money every now and then, and to always keep the financial management spirit high. These are not easy.
So, how do I ensure I stay on my financial track? Here are some of my methods:

1) Apply the power of technology
To monitor my investment, I signed up online account provided by investment firms. With this, I can log-in anytime to check the status of my investment. There are also other tools and apps to monitor investment but I still prefer to use my simple spreadsheets to monitor my investment.

2) Utilize Standing Instruction / Auto System Facilities
I admit it is hard for me to manually transfer a certain amount for my investment, on monthly basis. I know this is important but somehow, it is hard to be consistent. So, I signed Standing Instruction (SI) to transfer certain amount into my investment, on monthly basis. I love this automation. It is hassle free, time saving and most importantly, it consistently make the transfer on time.

3) Reading, reading and more reading
We are human. Our mood and judgement easily affected by our emotion. When I feel like I am lagging on financial matter, I will read on articles or book to keep my financial management spirit high.

4) Engaged with others with similar motive
I realised that it is also important to surround myself with the ‘likeminded’ people. I learned a lot from other bloggers. And most importantly, their success provided me a strong courage to continue with my own financial journey.

So, how do you motivate yourself to stay on financial track?

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Do You Hire A Personal Financial Adviser @ Consultant?

I read about this articles on The Star Online today. I believe there are quite a number of people out there who are ‘financial phobia’ 🙂 Well, people who had sweats all over when talk about money managing.

What the writer said is very true. Everyone must devote some time to manage our financial matter rather than to avoid it. After all, it is our responsibility to do so. We cannot expect our spouse or another family member to manage our finances for us. We must learn to take up the responsibility.

This article leads me to wonder whether you hired a personal financial adviser or consultant to manage your financial matter. Personally, I did not hire a personal financial adviser or consultant to take care of my financial matter, but I do invest with unit trust consultants. Why I didn’t hire one? Because I think, at the moment, I still can manage my finances on my own. Even if I hire a personal financial consultant in the future, I still think I will not let him take full charge of my financial matter. I will prefer to get some advice and at the same time learn from him on how to better manage my finances rather than let him manage my finances. Why? Because I strongly believe that I myself know my financial situation better. And I cannot rely on him 100% because he has to take care of his other clients too.

So, do you hire a personal financial adviser or financial consultant consultant to help out with your financial matter?

photo credit: Cayusa via photopin cc

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7 Reasons Why You Should Consider Sales Profession?

The other day, I was asking my teenage nephew about his plan after finished his study. He asked me back about my suggestions. When I suggest to involve in sales profession, he quickly said ‘no.. no.. not for me’ Then I asked him ‘why not?’. He said he does not want to be ‘rejected’ (means not successful in selling to prospects).

But, based on my own experience, a person should give himself or herself a chance to be in sales profession. I share below on 7 reasons why you should consider sales profession:

1) Meeting new people
You will get to meet many people from all works of life. From the receptionist to the clerk to the manager to the managing director and to the CEO as well. Along your way, you will find that these people will be able to assist you and helping your in building your own network. 
2) Exposure to the ‘outside world’
When I said ‘outside world’ it means the environment other than your own working place. You got to see different offices with different environment. You got to be exposed to different field and expertise. From here, you will have more diversified experience.
3) Building your own network
If you have many years of working experience, you will find out that networking play a very important role in all business. Your existing network might bring you new sales opportunity. It might affect your future too. Because, through this network, you might be offered another new opportunity or your dream job.

4) A training ground 
Sales career is a tough career. Along the way, there is a lot of self planning and self training involved. It also needs a brave heart and very positive attitude to keep the momentum going. It is good especially for those who just join the workforce to be involved in tough situation to build up his confidence. When the person look back, I am sure he will appreciate the opportunity given.
5) Recession proof profession
Sales person is needed everywhere in every organization. Even during recession, a company still need to hire sales person. If a company is downsizing, sales staff are seldom affected. Simply because the company still can operate without an admin staff but without a sales person, it is rather hard to run the business. Sales staff are needed to bring in sales/revenue for the company so that the company still can stay afloat and business is still running.
6) Potential of Good Income
Usually the salary package for sales profession is attractive because it involves commission. Other than the basic pay, a big portion of the salary come from sales commission. That’s why it not unusual to see five figures salary for a top sales person. And usually, this big fat paycheque is the reason why many are into sales profession.
7) Flexibility in your working hours
As most of the time, the sales person are not station in the office, he can find flexibility to move around. Depending on the company policy, some companies are very lenient to their sales team by giving them full control on their own office hour provided their sales are coming in. Comparing to a typical 9 to 5 cubicle work, it is great to be able to have your own freedom and plan your own schedule.
Personally, I would strongly encourage fresh graduates to at least give oneself a chance in sales profession. This profession will definitely bring many benefits for their future career path.

photo credit: thinkpanama via photopin cc

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How A ‘Calculator’ Can Help You Better Manage Your Finance?

I found a wonderful website where I can use the calculator to calculate the value of my future savings. Well, for example, if currently you have 100K in your EPF @ KWSP savings, are you curious to know the amount during your retirement in 20 years? Or, you can compare the return of investment from fixed deposit placement versus unit trust investment. Of course, it will be hard to know the exact figure but the calculator will roughly provide a figure for our reference. Because the return of investment in unit trust does not promise a fixed percentage.

One thing which I realized is that the time frame really play a super important role in our investment planning. The longer the time frame, the better the performance of our savings. The compounded interest bring charm to the investment plan. There is a huge difference of the same initial amount invested over 10 years and 20 years.
If time frame is a limitation, then we have to play around with the interest rate or return of investment. Instead of putting our money to a slow growth investment, why not learn to take some risk and place our money in an investment with better return?
With the technology today, I know there are also many other websites with financial calculator and there many available apps too. Let’s learn something from this smart calculator 🙂

Note: Feel free to click here for the website. This website not only offer for financial calculator but also other calculators including unit conversion and health calculator.

Image courtesy of adamr /

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