This is a review for book title ‘Top Money Tips for Malaysians‘ wrote by KC Lau. Kalau ikut dah lama nak share tapi tak sempat.
The basic is very simple, even student from primary school can put it right whereby:
Saving = Income – Expenses and Net Worth = Asset – Liability as I said it is so easy to memorize it but it is very2 though to implement it.
Rule#1 : Focus on increasing income “Don’t focus on how to spend less money. Focus on how to make more money.” – Lyndon Forman. He suggest 25 things that we can do to increase our income, I just list 6 of them 1. Invest in Stocks 2. Invest in Real Estate 3. Part Time Job 4. Network Marketing 5. Invest in UT and 5. FOREX Trading.
Rule#2 : Get rich using excessive debt, same concept shared by Robert T. Kiyosaki on OPM. The concept of Bad Debt vs. Good Debt, 1 good example is invest in Real Property.
Rule#3 : Have a Millionaire Budget Plan. “Don’t spend the money you don’t have, to buy the things that you don’t need, to please people you don’t like.” Sound familiar? The key word is to prepare your own budget!
Money Making Tips:
1. Earning passive income while surfing the internet – but AWAS on Skim Cepat Kaya!
2. Liquidate those junk in your house – SELL it at eBay!
3. Turn your passion into a money-making-machine – Now ramai yang minat camera DSLR (betul ke ni? huhuhu) and ramai yang dah boleh buat side income guna this type of camera.
4. Turn your credit cards from foes to friends – not the other way round!
Money Saving Tips:
1. Get your first car FREE! – ertinya beli kereta terpakai (kereta yang betul2 terpakai…. very2 cheap maaa!) and take advantage of NCD (after 5 years you entitle for 55% NCD… wow!)
2. Enjoy tax relief for educational purposes – get your child education insurance policy now! SSPN?
3. Manoeuvre your mortgage – Mortgage : the cheapest debt so refinance your home loan! I like it…:)
4. Others – Please do not subscribe to ASTRO! boleh ke?, tak payah beli paper, just read it in Internet and a few more….
1. KC Lau dah achieve FINANCIAL FREEDOM, even though he has a degree in Aeronautical Engineering tapi tak pernah jadi Engineer… beliau adalah Insurance Agent! ya betul Insurance Agent! and UTC (I guest…)
2. Some of it are based on my personal opinion, tiada kena mengena dengan yang hidup atau yang mati…:)
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