57% of Malaysian parents provide regular financial support to their adult children, according to ‘The Power of Protection: Facing the Future’ study. However, experts state that a child’s money habits are set by the time they are seven years old. This, therefore, highlights the need to teach kids about the importance of money from a young age. One of the most beneficial ways to instill vital money management skills in young children is to use enticing games which capture their imaginations.
You can teach your child the importance of money through role-play games while they’re still a toddler. Set up a play cafe with a menu and food items, and switch between customer and waiter roles. By doing this, your child will learn the importance of choosing items within their budget. According to Totally Awesome, more than 50% of Malaysian children receive pocket money on a daily basis. Therefore, the skills learned from playing role-play games will show your offspring the value of this money and why it should be saved and not splurged.
Household debt in Malaysia is one of the highest throughout the whole of East Asia, reports The Star. Getting your kids to truly value money by playing traditional games will help to prevent them from falling into debt when they move into their own home. Monopoly is a classic board game which teaches kids about investing, saving, risk and bonuses. Pay Day is another classic which will help youngsters understand how expenses have to be considered when reviewing their cash. Additionally, it promotes the idea that you’re a winner when you save as much cash as possible.
Dungeons and Dragons is a great way to help a child get to grips with earning, saving and spending. They’ll learn the importance of weighing up the pros and cons of each of their purchases and the potential future outcome, which, in Dungeons and Dragons, could be life or death. There’s a whole host of online games, including shopping for pets, grocery shopping and filling up a piggy bank, all of which encourage children to get interactive and to think carefully about how they will afford the next item they desire.
With adult children heavily relying on their parents in order to financially get by and a high number of households in debt, every effort should be made to teach the next generation the significance of money. By playing a variety of enthralling games with your little ones, you’ll open their eyes to the world of money management, which is a key life skill.
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.
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.
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.
Money transfer and international remittances is one of the largest financial industry in the world. The need for these services has increased with the growth of globalization. Globalization has enabled people to move from their native countries to other countries in search of opportunities. Companies too have become more global.
All this has led to the disruption of the traditional money transfer companies like Western Union and Moneygram. They have been disrupted by companies like PayPal, Skrill, Transferwise, and Venmo among others. Still, the challenge of sending money abroad has not been solved entirely. There is the problem of the duration the funds take before they arrive to the recipient. There is also the problem of the fluctuating currencies and the price of sending the money.
To solve these problems, three young men – Arthur Britto, David Schwartz, and Ryan Fugger – developed a company known as Ripple in 2012. The company operates in the Real Time Gross Settlement System (RTGS) industry which enables companies and people to send money faster and cheaper.
It is built on a distributed open source internet protocol, consensus ledger, and the decentralized digital asset called XR. The technology has become so popular that it has been adopted by some of the biggest banks and remittance companies. Companies like Western Union, Santander, American Express, and Credit Agricole have adopted the technology.
As a trader, it is possible for you to make money trading the ripple assets. Today, one ripple costs $0.5, which is a significant low from its all-time high of almost $4. Ripple has a market value of more than $20 billion making it the third largest cryptocurrency after Bitcoin and Ethereum which have a market value of more than $111 billion and $52 billion respectively.
Like Bitcoin and Ethereum, you can buy Ripple for speculation purposes. This is where you buy a few Ripples and store them in your wallet and hope that the price will go up. Since Ripple is one of the least expensive cryptocurrencies, small movements could make you earn a fortune if the price moves in the same trajectory as Bitcoin and Ethereum.
You can also trade Ripple CFDs using forex and CFD brokers. Here, your role is to find short term opportunities to buy or sell the Ripple. By buying, you hope that the price will move up while when you sell, you hope that the price will fall.
To know when to enter a buy or short position, you need to be good at fundamental and technical analysis. Fundamental analysis entails looking at the key issues with Ripple and the market itself. For example, when a new major company adopts Ripple, the market will react by buying more XRPs. If an early adopter exits, traders will react by selling their holdings.
Technical analysis on the other hand entails using one or a combination of multiple indicators to predict the future movement of the CFD. Ideally, you should use indicators that show when a trend is forming, and then confirm the trend with oscillator indicators. By taking time to learn more about these indicators, you will be at a good position to be an excellent Ripple and other cryptocurrencies trader.
Now you have made the decision to get a storage unit to store your stuff in, you need to do a little work in helping to determine what exactly you will need in regards to size. There is a fine balance between having too little space in a unit and having one that is way too big for your needs.
The best thing to do is to think about the things that you are looking to put in storage and then take it from there. One of the best tools you will have at your disposal will be that of talking to a person at the storage unit and see what they suggest for your needs.
How Much Stuff Do You Have?
The biggest question you will need to answer is how much stuff you have to put in storage. I have suggested to people in the past to take all of the stuff and put it on a list as to what you are taking to put in storage.
This is a good bit of advice as it helps you to keep it straight in your head as well as help you to make sure that you don’t forget anything. This list will be important and you will need to make sure that you keep it somewhere that you can remember where it is.
How big are the things you are putting into storage?
The things that you are putting in storage matters as to how big they are and how much space will they take up. Boxes will take up a lot less space and you can fit more in the unit as opposed to having a lot of furniture that you are looking to put in the storage unit.
Take a little time and figure this out. After you do this, then you are ready to head to the storage place and talk to the person on staff to see what they have and suggestions for you.
Talk to the Manager and Take their Advice
The person working at the storage company will generally have the needed knowledge to help guide you to what options you have for storage and where your best bet will be.
You also need to talk to them to make sure that they have a storage option for you that will work and won’t break the budget. The other reason that they need to know how big of a unit that you need will be to help them know if they have a unit or not. You may need a 10×10 unit and they don’t have it.
As you can see there are a lot of things that you need to take into account when making a decision about how big of a unit that you need for all of your storage needs. This will make the process a lot less stressful if you use a place such as https://storebox.co.uk then you will see that this process will be a lot more easygoing than you had thought it would be.