@hazelhope I think better put the emergency fund in a money market account like Stashaway simple instead of FD. FD has a lock up period that will penalize when you have an emergency.
[Guide] How to save MYR, the kiam siap fresh grad edition
- Thread starter hazelhope
- Start date
@nekiness Stashaway Simple invest in high yield money market funds so there is certainly some risk involved.
Since we aren't putting much into fixed deposits, this small percentage difference in return is not significant. Some banks also have promo rates for fixed deposits if you shop around.
Better to have the cash in your bank than in these high risk investments that can go belly up in a recession.
The penalty can be negated if you spread your fixed deposits with varying maturity dates. Rather than putting RM10k into 1 month fixed deposit, instead put it into RM5k (1 month) and RM5k (2 month) with auto renewal.
Since we aren't putting much into fixed deposits, this small percentage difference in return is not significant. Some banks also have promo rates for fixed deposits if you shop around.
Better to have the cash in your bank than in these high risk investments that can go belly up in a recession.
The penalty can be negated if you spread your fixed deposits with varying maturity dates. Rather than putting RM10k into 1 month fixed deposit, instead put it into RM5k (1 month) and RM5k (2 month) with auto renewal.
@hazelhope My strategy for emergency fund is 50% in cash for liquidity and 50% in MMF (Stash Away Simple) for that tiny bit of interest.
resjudicata
New member
@hazelhope Totally agree about investing as much as you can monthly. I wish my parents encouraged me to start investing when I started working. Only started investing in my late 20s but still better late than never!
im_a_giants_fan
New member
@hazelhope Just curious, would love to know what ETF's that you invest in.
Am trying to diversify my investments and would love to learn more about ETF's.
Am trying to diversify my investments and would love to learn more about ETF's.
@im_a_giants_fan I invest in EQQQ.MI. It is QQQ but listed in Milan stock exchange and domiciled in Ireland.
QQQ tracks Nasdaq 100 and is tech heavy. Largest holdings are in Facebook, Apple, Microsoft, Netflix and Google. Definitely riskier than S&P 500.
I hold some PLTR shares and some Malaysian stocks as well.
QQQ tracks Nasdaq 100 and is tech heavy. Largest holdings are in Facebook, Apple, Microsoft, Netflix and Google. Definitely riskier than S&P 500.
I hold some PLTR shares and some Malaysian stocks as well.
@hazelhope Everything looks good except for the bigpay method. It's a great way to get your BP account banned.
@celia4120 Why do you say that?
Most people have been doing it. BigPay knows their users do this which is why they reduced the monthly top up to RM1k for credit cards. It used to be >RM1k.
Most people have been doing it. BigPay knows their users do this which is why they reduced the monthly top up to RM1k for credit cards. It used to be >RM1k.
@hazelhope It's a fact that they ban you for doing this. It's the standard procedure for all ewallets that accept or used to accept credit card topups - I no longer keep track of them all but you can check out the people crying about it on lowyat when they get their accounts banned for doing this. The fact that they reduced the limit has nothing to do with combating this but rather reducing the fees they pay. CCs like VISA/MC have a 1.6% transaction fee compared to 0.5% for debit cards. Eventually once they get enough users and transactions, they'll simply remove credit card topups since it makes no financial sense to move money from a more expensive medium (CC) just to make money on a cheaper one (debit card fees), especially since AirAsia isn't doing well and BigPay can't funnel funds that way anymore to make up for the discrepancy. It's not an if but a when.
@albert0 From my understanding, people get banned only if they:
I am a commenter in that Lowyat thread. In fact, I was the one that raised the point that banks flagged it as suspicious and blocked the transaction. I was lazy to give them a call to approve the transaction but I'm quite sure it will go through. This guy managed to do it.
- Use other people's credit card to top up personal BP account
- Abuse credit card reward system (most banks no longer give points for e-wallet reloads)
- Top-up excessively >RM100k per month
- Transfer out to other people's account
I am a commenter in that Lowyat thread. In fact, I was the one that raised the point that banks flagged it as suspicious and blocked the transaction. I was lazy to give them a call to approve the transaction but I'm quite sure it will go through. This guy managed to do it.
@hazelhope Fresh graduate here earning 24k annually before EPF and all that. Can yall recommend some credit cards
@lsister08 You're out of luck for everything except for Aeon and I believe Hong Leong and some other very basic cards which have a 2k minimum income requirement. Best way is to pledge FD for something higher tier with cashback like the Maybank 2 Gold (5% cashback on almost everything on weekends) or Affin Duo (cashback on certain things daily).
@hazelhope Thanks. A bit off topic for my question. I read from your previous post that you've passed your CFA level 1 and on the way to your final CPA paper. How do you juggle with all the working and studying and still able to find time and energy to cook? You're nearly superhuman to me 
@dengirl I used to work full time but quit just before Covid for personal reasons. I'm starting work again next month.
Work and study is doable but not easy. Most employers do not allow you to take multiple papers at once. So, you can only complete 2 papers a year.
Most working adults book 1 month leave just to finish a paper. So they have a month to study.
If you have the money, it is always better to finish your studies before you start work.
Work and study is doable but not easy. Most employers do not allow you to take multiple papers at once. So, you can only complete 2 papers a year.
Most working adults book 1 month leave just to finish a paper. So they have a month to study.
If you have the money, it is always better to finish your studies before you start work.
@hazelhope Thanks for your advice. Working and preparing for paper is very tiring for me. Good luck for your new job.
@hazelhope I'm curious what's your salary as a fresh grad to save 80%. Is it 3-4k starting?