The Convenience of Online Supermarkets

The Convenience of Online Supermarkets

A woman walks through her front door, and then promptly returns to her car and heads to her closest supermarket. She forgot on her way home from work to pick up the red wine she promised to Read More

Habits of a Good Marketer

Habits of a Good Marketer

Anyone who has been involved in sales jobs or marketing jobs in the past knows that in order to keep a good flow of business going, you need to have a list of good habits that you keep. Some of the habits of a good marketer include Read More

Serviced Offices & Virtual Offices

Serviced Offices & Virtual Offices

A serviced office is office space for rent. This can be an incredible benefit for a new business that cannot afford its own office building, and yet needs one to meet clients in. An entrepreneur with employees needs to give them some sort of space if he desires live Read More

Is Online Grocery Shopping Really a Time Saver?

Is Online Grocery Shopping Really a Time Saver?

Time management is of great importance to busy individuals especially moms. High tech savvy moms know something that is more convenient and is a guaranteed real time saver in shopping for groceries. Read More

Part-Time Law Courses You May Be Interested In

Part-Time Law Courses You May Be Interested In

When it comes to designating a plan for law school, it may be tempting to start with a heavy course load in an attempt to clear out as many requirements as possible. Students may actually find that it is a better idea to Read More

 

Worst Financial Decisions of Your 20s and Best Available Ways in Malaysia to Make Them Right

Your 20s are both amazing and terrifying. You are both young to make mistakes and old enough to take wise decisions. This stage of your life, most often than not, determine where you might be in the future. But if there is one thing that you must already be doing in your twenties, it is preparing for your future financially.

Due to the many desires you tend to prioritize during this stage, financial security may fall to the bottom of your list. But you should not despair because below are the most common financial mistakes you tend to do during your 20s and some of the best ways to solve them:

 

  1. Depending on credit cards
  • Applying for a credit card in Malaysia is easy peasy. Based on your need, Malaysian credit card providers may cater to your very need for as long as you have the capacity to pay. However, habitually living off your credit card may have a significant impact on your life financially especially if your expenses grow larger more than your savings because of it. To prevent this from happening, ensure that you have a budget plan every week to minimize unnecessary spending. Better yet, cancel your credit card if your expenses are becoming out of control.

 

  1. Saving Alone
  • Saving is probably one of the great things you could do to secure your future financially. However, during our 20s, we tend to forget that saving alone is not enough. As they say, we must learn how to make our money work for us. And the truth is, there is a very efficient way to do this—life insurance with savings plan. Life insurance with savings plan is a kind of specialized insurance in which you may choose the amount of money you want to save as well as the maturity date of the insurance. This type of insurance is very much available in Malaysia and insurance providers may customize this plan depending on their financial capacity at the moment.

 

  1. Wrong Investments
  • People in their early 20s tend to prioritize things that depreciate over time like cars or gadgets. This has become one of the most common financial mistakes considering that the value of these things tend to go lower over time which may also mean dead end for the money you used. If you wish to avoid this type of mistake, financial planners may be sought for advice. In Malaysia, financial planners are expert individuals who may help you plan your financial life. They may custom fit your needs in the present and future investment, depending on your short-term and long-term plans. To ensure your security, look for financial planners who have passed either the Registered Financial Planners or Certified Financial Planners examination.

 

Although your 20s may be full of uncertainties, your financial security must always be on top of your list. This would ensure not just your future but the future of your family as well. So if you are looking for ways on how to minimize financial mistakes and make wise money decisions, do not hesitate to look for efficient means and assistance in Malaysia.