Mobile technology has revolutionized the way that people manage and spend money. With digital wallets allowing people to instantly access their checking account and various credit cards, it has never been easier to spend money. To some, that may appear as though technology is making money management more difficult. However, technology also offers useful tools for tracking your spending, improving your savings, and even investing in the go.
Install the Apps You Need to Track Your Spending
The bank that you use and the credit card companies you work with likely have their own proprietary apps. These applications can help you quickly check your balance and even shut down an account if a card has been compromised. Installing the apps that correspond to the banking institutions you work with on your smart device is a good idea.
You should also consider installing a budget or spending tracking app. These systems work by monitoring what you spend and helping you understand where you deviate from your budget. While digital payments make spending money quickly easier, digital tracking makes accountability that much simpler.
Monitor Savings and Investments 24/7
Some people think of savings accounts as a thing of the past, but there are many people who diligently put a portion of their weekly income into a savings or investment account. Even if you don’t have much wiggle room in your budget, it is possible to join the ranks of savers. There are actually apps that can help you save without putting any effort in.
Some programs may round up each transaction to the nearest dollar, depositing the change into a savings account. Others will automatically deduct a portion of your check when it reaches your bank and places it in a savings account. If you don’t have to take the step of transferring the money on your own, you may be more likely to accrue significant savings and leave the money in the account without withdrawing it.
If you already have excess liquid capital or savings, investing might be a good way to manage your financial situation and improve your income. There are now apps that let you invest on the go. Whether you want to trade commodities or stocks, there will be an app that can help you quickly address changes in the market by buying or selling different investments.
Technology can either help or hurt your household budget. It all depends on how you use it. Investigating and installing the right financial apps can help you make better budget and money management decisions.
I received a message from Maybank2u that I was selected for pre-register for DuitNow. At first, I thought that I will receive money from Maybank. Wow, I am so lucky today.
I was wrong. It’s actually a new way to send and receive money thru all bank in Malaysia.
What is DuitNow?
DuitNow is actually a new real-time online fund transfer service that allows you to transfer funds to your recipient’s
DuitNow ID instead of their account number. Basically, it just replaces your bank account number and makes payment easier.
You can register and transfer funds using DuitNow via Maybank2u and Maybank2u Biz. This is an industry-wide initiative among all banks to simplify funds transfers while maintaining a high level of security.
What is DuitNow ID?
DuitNow ID is an identifier which will be used to register your account numbers and it can consist of any of
the below. You can register one DuitNow ID to one account e.g. your mobile number to your Savings
Account and your NRIC to your Current Account.
a) Mobile Number
c) Army or Police Number
d) Passport Number
e) Business Registration Number (for Maybank2u Biz account holders)
DuitNow ID is unique, hence can only be registered to one account, regardless of whether the
accounts are from the same bank or different banks. So you need different DuitNow ID for each account that you have.
At the moment, Savings Accounts and Current Accounts can be registered for DuitNow. You can choose which account that you want to register with DuitNow. You can change the account once the features are available via Maybank2u/ Maybank2u Biz or at any Maybank branch starting December onwards.
DuitNow for Foreigner
Yes, you may register in M2U provided you have an active Maybank2u login and username. DuitNow
registration can be performed using your international mobile number or the passport number that
you have registered with the bank.
You may also register at any Maybank branch. You also can update your DuitNow mobile number via Maybank2u and your passport number at any Maybank branch.
Maximum Transfer for DuitNow
RM50,000 is the maximum standalone transfer via M2U. However, for M2U Biz, daily maximum
standalone transfer via M2U amount is RM 100,000.
Transaction Fees for DuitNow
Transfers up to RM5,000 are free while a charge of RM0.50 per transaction applies for transactions above
RM5,000. (RM0.50 charges applies for DuitNow transaction via M2U and M2U Biz)
Verification for DuitNow ID
Before confirming the transfer, it’s important that you check that the name belongs to the intended recipient. When you keyed in the DuitNow ID, the registered account holder’s name will be displayed.
Update your mobile number
If your mobile number in the bank’s system is outdated, you can update your mobile number at any of Maybank branches or via any Maybank ATM. The system will automatically de-register the outdated number and you can go to Maybank2u/ Maybank2u Biz to register your new mobile number on the next day.
You cannot ask a third person to register your mobile number to their account. No, Maybank will check the mobile number against the account holder’s details before allowing the registration.
Opt out from the DuitNow pre-registration
Yes, you may deregister for DuitNow from 8 Oct – 21 Oct 2018 using the steps below:
Step 1: Select here Deregister DuitNow
Step 2: Enter your Reference Number and your ID
Step 3: Verify your details. Select ‘Yes’ to opt out
DuitNow service is coming soon
DuitNow pre-registration applies to selected customers. For those who are selected, you will be notified via Maybank2u website Inbox and Maybank app push notification.
Earlier this year we saw Bitcoin hit the headlines by reaching an all-time high and then swiftly falling back down on the stock market. Since then, Bitcoin has faded into the background a little, with the future of the coin still remaining uncertain for most people.
Bitcoin was actually introduced in 2008 as a cryptocurrency. It posed as an attractive alternative to real currency as banks increasingly lose their trust against the UK population. Yet, as a typical trend on the stock market over-investment and media advertising caused bitcoin to quickly drop down in value.
What’s next for Bitcoin?
Whilst it seems that all has died down surrounding the bitcoin hype, there are still some investors that believe in the future of cryptocurrency. Yet, with it being an unknown and untested currency it remains unclear as to what the future holds. In fact, it seems that there is now more skepticism that the currency will ever achieve the ultimate goal of becoming the world’s leading currency.
The worth of currency
The truth is that a lot of countries in the world have currencies that aren’t actually worth the plastic or paper that they are written on. Bitcoin and other cryptocurrencies were supposed to bridge that gap and solve many problems. But regulators, investors, and the general public don’t seem ready for such technology.
The younger generation and the need for cash
Bitcoin took off because there was a lot of anger from younger generations about the way the banks operated. With the rising costs of living and not much movement on the increase in salaries, more and more people are looking for alternatives to increase their wealth.
In fact, as debts increase more and more people are looking at short-term loans. Consider Uncle Buck, a short-term loan company that can help to consolidate debts and helps get people back on the right track. Whilst a loan isn’t always ideal, compared to Bitcoin, these sites are regulated by the FCA, giving more confidence to those that need access to money without relying on credit cards and overdrafts with high interest.
In reality, relying on any one form of investment, loan or overdraft won’t make you rich instantly. It’s more important to manage your money and budget for your lifestyle. Investing in anything, not just cryptocurrency is a long-term game and can take years to master. Therefore, looking at Bitcoin as a way of making a quick buck is probably not the right way to go.
Instead, if you really think that cryptocurrency is the way forward, do your research, learn from current investors and start small. That way, you may be able to benefit if Bitcoin increases in value, but you can also move with the peaks and troughs in the best way that suits you.
Whilst the future of Bitcoin is unclear, there are still many people that believe it could be the way forward in terms of currency. Yet, it’s important that it’s seen as an investment and not a fast way to cash. For Bitcoin, it’s kind of a watch-this-space kind of situation.
One, that we hope will be profitable for the many that have invested in the coin.
‘Don’t judge a book by its cover’ is stock advice for children, yet as noted by journalist Abel Raj, physical appearance influences perception and is vital when we want to make a positive impression. One study, published in the journal SAGE, found evidence that our initial perception of people continues to affect the way we see them, even after we interact with. First impressions count in the work context because they affect the extent to which we perceive someone as trustworthy. We can decide whether or not to pursue a business contact depending on our initial instinct, and we have very little information other than their personal appearance or the look of their office when it comes to making that call.
Your office reflects who you are
The interiors of your office should make your clients feel like they can count on your professionalism. If you are in an industry like design, advertising, or art, your interiors should be modern and sleek, with touches of sophistication. Keep clients comfortable and warm with touches such as modern lighting and heating, replacing furniture such as rustic chimneys with cutting-edge double-glass fireplaces and standard lamps with sophisticated pendant lights. Color is also key; your interiors should be in sync with your logo, communications style, and website. Find your inspiration in top Malaysian companies like Time Dotcom, whose hip office features open workspaces, brightly hued furniture, and gorgeous lacquered reading desks. Equally cool is Shell, with its beanbag-filled ‘inspiration hub’, or Agoda with its futuristic dome-covered meeting spots. These companies’ respective design choices may differ but what they all have in common is an impactful way of saying exactly what they stand for through their visionary interiors.
Professional business attire is key
A fascinating article by Hugh Ujhazy highlighted the vibrant nature of business attire in Malaysia. Multiculturalism is the key, he says, to subtle differences that mark one’s individuality. Even if a business suit is called for, there are ways to express your individuality and innovation. Think a pair of designer cufflinks, a herringbone business jacket, or a slim-fitting suit in an unexpected hue such as a lighter shade of maroon. Loafers, vivid ties, and a French designer briefcase look serious yet cutting-edge. This freedom is a welcome relief indeed for those who wish to present their best self without skimping on sartorial flair or personality.
A good smile is key
Being able to smile confidently is key at networking and social events, but also at business meetings. Research has found that issues such as tooth shade and missing teeth can significantly impact the first impression other people have of us. Attractive smiles, meanwhile, are related to positive personality traits such as warmth, calmness, extroversion, and low anxiety. If dental issues have been bothering you, there are many quick solutions such as four-in-one implants and other options that may cost less than you think.
Using the right body language
Body language – the non-verbal cues you use to communicate with others – should be a priority when doing business. Looking business associates straight in the eye, greeting them with a firm handshake, and avoiding blocking body language (such as arm crossing) are key. Body language is half of all communication so use it to your advantage. Mirror the position of an important colleague, deliver your messages with a kind expression, and avoid leaning your chin on your hands when someone is speaking – it shows a lack of interest.
Your office, dress sense, and smile should be considered investments in your business career. Finely tuning each will not only impress clients but also give you a boost of confidence. In an ideal world all that matters would be ‘what lies beneath the surface’, but why not step into one that is vibrant, dynamic, and inviting, every day of your working life?
In Malaysia, gross rental yields range between 2.3 and 5.4 percent, according to Globalpropertyguide.com. Buying property in Malaysia and then renting it out to tenants is a good way to build wealth. Unless you buy real estate properties outright, your tenants will supply you with monthly income which helps to cover your mortgage, with profits to spare. If you purchase multiple properties and rent them out, you’ll establish a real estate empire that is scalable. This quick guide will show you how to use the Web to source out good properties, how to get a property ready for rental and how to maximize your financial investment in real estate.
Use the Web to source out good properties
Technology is making it easier for prospective landlords to view properties online, according to Thestar.com.my, seeing a property is vital in terms of deciding whether to buy it or look for something better. Thanks to the latest technological advancements, such as 360-degree pictures, and VR (virtual reality), it’s possible to view properties online without missing a single thing. While you should inspect a property personally before you sign on the dotted line, you’ll find that high-tech online services make it easier than ever to create a short list of viable properties, one of which may be the perfect rental unit or units. New ways of viewing properties cut down on the time and energy involved with vetting real estate opportunities.
Get a property ready for rental
If you’re not ready to be a full-time landlord, you have another option. You may list your property for short-term rental via an online platform. Right now, one hundred and eighty thousand properties are listed for short-term rental in Malaysia. If you prefer to be a full-time landlord, you’ll need to ensure that you understand your legal responsibilities, as well as the specific rights that your tenants will have. You’ll also need to ensure that your property is safe, in good condition and appealing to prospective tenants. Lastly, you’ll have to decide if you want to manage day-to-day issues on your own, or hire a property management firm to do it for you.
Use your profits to buy more properties
Everyone has different investment goals. If getting rich and enjoying financial stability are your goals, you should roll profits from your rental property into buying more rental properties. If you’re willing to educate yourself, do the hard work and take some risks, becoming a landlord will be the stepping stone to owning a series of Malaysian properties that become a huge nest egg. You’ll always be able to borrow from the equity that you establish in these properties, so they may also be considered a rainy-day fund.
View properties for sale online today
Now that you know why becoming a landlord is a good way to access steady returns and accumulate properties that help you to enjoy the ideal lifestyle down the line, why not check out properties for sale online? There are Malaysian real estate firms that use the latest technology to give prospective buyers the ultimate online viewing experiences. When you choose this form of real estate investment, you’ll be choosing a time-honored method of acquiring wealth.