Blog
FOMO No More: Savouring Life Without Sacrificing Savings
Break free from the cycle of FOMO and financial stress. Learn to enjoy life fully by focusing on what truly matters, practising mindful spending, and using tools like MoneyX to stay on track with your financial goals.
Malaysia’s Fuel Subsidy Cuts Impacts Your Daily Life
Malaysia cuts fuel subsidies; find out the effects on your daily life, the support available from the government, and the upcoming potential shifts in petrol subsidies.
On June 10, 2024, Malaysia took a significant step by removing diesel subsidies. This measure aimed to reduce the burgeoning diesel subsidy bill, which escalated from RM1.4 billion in 2019 to RM14.3 billion in 2023, and to curb leakages from diesel smuggling. Consequently, diesel prices in Peninsular Malaysia surged by 56%, from RM2.15 to RM3.35 per litre. Despite these changes, Malaysia’s new diesel pump price remains the cheapest in ASEAN, barring Brunei.
The removal of the diesel subsidy marked a significant shift in policy aimed at reducing the financial burden on the national budget and encouraging more efficient fuel use. This move has spurred discussions about the potential elimination of petrol subsidies, particularly for RON95, and its likely effects on the Malaysian economy and society. The diesel subsidy removal offers a glimpse into the possible challenges and impacts of phasing out petrol subsidies. .
The History and Burden of Petrol Subsidies
The petrol subsidy in Malaysia has been a significant component of the nation’s economic policy for decades. Introduced in the 1980s during the tenure of the former Prime Minister Dr Mahathir Mohamad, the Automatic Price Mechanism (APM) aimed to alleviate the cost of living for Malaysians by keeping fuel prices affordable. Under the APM, the government would subsidise the price differential if the market price was more significant than the retail price.
This policy was crucial during high global oil prices, ensuring that transportation and essential goods remained accessible to the general populace. Over the years, the subsidy has played a pivotal role in shaping Malaysia’s economic landscape. However, it has also sparked considerable debate regarding its long-term sustainability and financial impact.
The financial burden of subsidies became particularly evident in 2008. Spending on subsidies peaked at 22% of revenue from total oil exports, exceeding even spending on essential supplies and services. This coincided with the global financial crisis and a spike in oil prices, leading to a significant deterioration in Malaysia’s fiscal health. 2009, the economy contracted by 1.5%, and the fiscal deficit reached its highest level since 1982. This was partly due to the release of two stimulus packages worth RM67 billion aimed at mitigating the crisis but also a consequence of the rising subsidy costs.
Beyond the financial strain, the subsidy program also faced criticism for creating economic distortions, such as overconsumption and waste of subsidized fuel. Additionally, leakages due to smuggling resulted in unintended beneficiaries, with untargeted subsidies often disproportionately benefiting industries and higher-income households rather than the intended low-income groups. The fuel subsidy, which was primarily created to help the poor, has ironically benefited the wealthy population more. The poorest 20% of the population receive only 7% of the subsidy’s benefit, while the wealthiest 20% receive a disproportionate 43%. This misallocation of resources underscores the need for a more equitable and efficient system that truly supports those in need while minimising economic inefficiencies.
This inefficiency highlights that for every RM1 billion spent on subsidies, resources could have been better allocated to essential infrastructure like hospitals, schools, or roads. The rationale behind removing the subsidies is to address these issues by reducing inefficiencies and reallocating funds more effectively. By shifting from blanket subsidies to targeted assistance, the government aims to improve fiscal sustainability and direct resources towards critical areas such as infrastructure, public transportation, and social programs, ultimately fostering a more sustainable economic environment. For example, a targeted subsidy transfer of RM150 a month to the B40 group would cost the government around RM5.7 billion a year. This is much lower than the RM45 billion spent on blanket RON95 fuel subsidies.
While removing petrol subsidies poses a significant financial burden, it offers a notable long-term benefit. Redirecting the substantial resources spent on fuel subsidies can significantly enhance critical areas such as public transportation infrastructure, social programs, and healthcare investments. For instance, every RM1 billion saved from subsidies could fund the construction of 5 hospitals, 20 schools, or 50 km of roads. Higher petrol prices encourage Malaysians to reduce their reliance on personal vehicles, opting instead for carpooling, public transport, or alternative modes of transportation. This shift will alleviate traffic congestion, reduce emissions, and contribute to a more sustainable future.
However, removing fuel subsidies has sparked considerable concerns among Malaysians, who feel frustrated about bearing the brunt of higher fuel costs and the potential for increased prices of everyday goods. The government’s challenge is to convincingly demonstrate that these short-term hardships are essential for ensuring long-term economic stability and growth. For example, by redirecting funds previously allocated to subsidies, the government can invest in expanding and improving public transportation systems, making them more reliable and accessible.
Anticipating the Impact of RON95 Subsidy Removal
The removal of the RON95 petrol subsidy is set to have a significant impact on Malaysian consumers, with profound implications for the cost of living and economic stability. Unlike the diesel subsidy, which primarily affects businesses, eliminating the RON95 petrol subsidy will directly impact consumers, particularly those from lower-income groups.
The B40 demographic, representing the bottom 40% of income earners in Malaysia, relies heavily on personal vehicles for commuting and daily activities. With the removal of the RON95 subsidy, these households will likely face a sharp increase in fuel expenses, exacerbating their financial burden. As petrol prices rise, so will the cost of transportation, leading to higher prices for essential goods and services. This domino effect can strain household budgets, making it more difficult for families to afford necessities.
Removing fuel subsidies seems like a straightforward economic move, but it could disproportionately impact Malaysia’s B40 demographic. Their reliance on vehicles for transportation makes them especially vulnerable to rising fuel costs, potentially leading to a domino effect on everyday goods. Dr. Shankaran Nambiar, a senior research fellow from The Malaysian Institute of Economic Research (MIER), suggests targeted assistance programs to mitigate the burden on low-income Malaysians. However, he also highlights the complexities involved. Even with targeted subsidies, the cost of transporting essential goods like groceries is likely to increase. He emphasises the difficulty of ensuring only the B40 benefit and managing the public perception of a higher cost of living, even with potential cash handouts.
Government Measures to Mitigate Impact
The government has implemented several measures to mitigate the impact on consumers following the removal of diesel subsidies. Prime Minister Datuk Seri Anwar Ibrahim announced that subsidies would still cover around RM7 billion, focusing on targeted assistance to ensure the subsidies reach the appropriate groups. Subsidies and assistance will continue for bus and taxi operators, fishermen, smallholders, farmers, and traders in the B40 and M40 income groups who use diesel for their businesses or farming activities. These measures aim to protect lower-income groups and essential service providers while saving the government an estimated RM4 billion annually.
He added that under the targeted diesel subsidy implementation, the government has set diesel fuel prices for eligible sectors as follows:
- Subsidised Diesel Control System (SKDS) 2.0, which provides fleet cards to eligible logistics vehicles to mitigate the impact of the diesel price on consumer goods prices, is set at RM2.15 per litre.
- Subsidised Diesel Control System (SKDS) 1.0 for land public transport, including school buses, express buses, ambulances and fire engines remains at RM1.88 per litre.
- Subsidised diesel for fishermen is maintained at RM1.65 per litre
Coping Strategies
As fuel costs rise, Malaysians could adopt several strategies to manage and mitigate the impact on their budgets. A key component of these strategies involves the adoption of electric vehicles (EVs), supported by various government initiatives.
Adoption of Electric Vehicles (EVs)
The Malaysian government has implemented several measures to encourage the adoption of EVs:
- Tax Exemptions: Exemptions on import and excise duties for EVs have been introduced, making these vehicles more affordable for consumers. This financial support significantly reduces the overall cost of purchasing an EV.
- Charging Equipment Scheme: The scheme includes the purchase, installation, or rental of EV charging equipment for personal use, up to RM2,500, extended until 2027.
- Cost Efficiency: According to Tenaga Nasional Berhad (TNB), the fuel cost for EVs is estimated to be 11.4% – 51% lower than for internal combustion engine (ICE) cars. This substantial saving on fuel costs makes EVs an economically viable option as petrol prices continue to rise.
In addition to EV cars, the government is promoting the use of electric motorcycles through the Skim Galakan Penggunaan Motosikal Elektrik:
- Income-Based Incentives: This scheme applies to Malaysians with annual incomes of RM120,000 or less.
- Direct Rebates: It offers direct rebates on electric motorcycles up to RM2,400, making them more accessible and affordable for a broader population segment
Despite having electric vehicles as an option, Malaysians may still need to adopt various measures to save money and adapt to the potential rise in fuel costs and the removal of fuel subsidies.
- Shifting Travel Habits: Public transportation or carpooling can significantly reduce reliance on personal vehicles.
- Fuel Efficiency: Regular car maintenance, practicing fuel-efficient driving techniques, and considering more diminutive, more economical vehicles can help stretch a tank of gas further.
- Planning and Budgeting: Consolidating errands and planning trips efficiently can minimise unnecessary driving. Reviewing budgets and adjusting spending habits may be necessary to account for increased transportation costs.
Reassessing Fuel Subsidies in Malaysia
Fuel subsidies in Malaysia have long been essential for stabilising the economy and protecting consumers from fluctuating global oil prices. However, the long-term sustainability of these subsidies is increasingly in question. As the government considers phasing out petrol subsidies, it is crucial to evaluate the potential economic, social, and environmental impacts comprehensively. While the immediate effects may pose challenges, the move presents an opportunity for Malaysia to enhance market efficiency, promote sustainability, and achieve more equitable economic growth.
Removing fuel subsidies in Malaysia represents a pivotal shift toward a more sustainable and efficient economic framework. While this policy change is a crucial element of a broader reform strategy, it underscores the need for a nuanced approach that balances economic efficiency with social responsibility. The government must address the financial strain on affected sectors through well-designed support measures. Despite the introduction of targeted assistance and fleet cards, challenges persist, particularly for small and micro-businesses grappling with increased fuel costs. It is vital to continuously evaluate and adapt support mechanisms to ensure that the transition benefits the entire economy without disproportionately burdening vulnerable groups. This balanced approach will enhance economic stability and promote a fair and inclusive transition to a more sustainable future.
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Everything you need to know about EPF Account 3
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FOMO No More: Savouring Life Without Sacrificing Savings
Break free from the cycle of FOMO and financial stress. Learn to enjoy life fully by focusing on what truly matters, practising mindful spending, and using tools like MoneyX to stay on track with your financial goals.
Have you ever felt left out while scrolling through social media, watching your friends flaunt their exotic vacations or extravagant dinners? FOMO, or the “Fear of Missing Out,” is the worry that you’re missing out on the fun that others are having. We’re constantly bombarded with images of perfect lives on social media, making it hard to resist the urge to spend, experience, and consume everything the world offers. This relentless comparison can create an unrealistic expectation of happiness, often leading to impulsive spending and financial stress. However, there is a way out of this FOMO trap. Understanding the actual cost of keeping up is a crucial first step.
The High Cost of Keeping Up
According to Muller et al. (2011), materialistic consumers often experience low life satisfaction and increased feelings of depression. Those who are highly materialistic tend to be less content and happy with their lives compared to those with lower materialistic values. We’re caught in a never-ending consumption cycle, always chasing the latest tech gadgets, designer clothing, or a new car. This constant pursuit of pleasure often leaves us feeling empty and financially stressed, much like running on a treadmill—expending a lot of energy without making any real progress. Are we truly finding joy in this relentless cycle, or is it time to pause and seek a more meaningful and fulfilling path?
Beyond the Highlight Reel
To break free from this cycle, we must first recognise the illusion of perfection perpetuated by social media. Social media often presents an unrealistic portrayal of perfection by showcasing carefully curated images and highlighting reels of glamorous vacations, luxurious lifestyles, and flawless appearances, making it easy to feel like you’re falling short. Remember, everyone’s online life is a highlight reel. True happiness comes from within and from accepting ourselves as we are, not from comparing ourselves to others. Let’s focus on building meaningful connections by spending quality time with loved ones, cherishing life’s simple moments like a quiet morning coffee, and finding joy in our unique journeys.
Discover how you can enjoy life to the fullest and spend wisely without compromising your savings:
- Creating a budget
Begin by listing your expenses and sorting them into three categories:
- Essentials: groceries, utilities, or rent
- Wants: clothing, dining out or entertainment
- Savings & Investment: emergency funds, retirement funds or
Decide how much you want to save each month and treat that savings goal as a necessary expense, just like paying your bills. By organising your spending this way, you can easily spot areas to cut back, helping you save money without giving up the things you love. This straightforward method makes managing your finances simple and keeps your savings on track.
- Prioritise Experiences
Instead of splurging on luxury items that offer only temporary satisfaction, invest or allocate a portion of your budget to activities that create lasting memories, such as travelling with friends, learning new skills, or simply enjoying time with loved ones. These experiences enrich your life and provide a more profound sense of fulfilment which is worth every penny. Money can buy you happiness if you know what you’re buying. A study by Cornell University finds that buying experiences instead of materialistic things gives you true happiness.
- Share, Don’t Spend
Living fully doesn’t mean buying everything you desire. Embrace a smarter approach by sharing resources with others. For example, borrowing a special outfit for an event or renting tools for a one-time project helps you enjoy high-quality experiences without the financial strain of purchasing these items. By choosing to share instead of owning, you save money and reduce environmental waste. This mindful approach ensures you can maintain a fulfilling lifestyle while managing your finances wisely.
- Mindful Consumption
Before you purchase something, ask yourself if you need it and if it will bring you long-term happiness. The satisfaction of saving money is a reward in itself. Try the 24-hour Rule: When the temptation of buying something arises – you refrain yourself from buying it for 24 hours. You might find the desire fades and you will be glad you waited. Research by Harvard University shows that luxury items eventually lose their appeal in the long run, no matter how much you want them in the short term.
Leverage Financial Apps
While mindful spending is crucial for financial well-being, having the right tools can significantly enhance your journey. Staying on track with your financial goals can be challenging, especially in a landscape that is filled with constant distractions and tempting splurges. That’s where MoneyX comes in—your trusted ally in mastering financial management.
MoneyX: Your Financial Copilot
Gain deeper insights into your financial health with the Financial Analysis from MoneyX. Understanding your financial persona by answering the Financial Mindset Quiz can guide you in making more informed, data-driven decisions tailored to your spending habits and financial goals. Identify areas for improvement, track progress towards your goals, and receive personalised recommendations for financial products.
With MoneyX, a one-stop financial platform that provides automated bill reminders, insurance and road tax renewals, and much more, you have the tools to manage your finances effortlessly. By prioritising meaningful experiences, practicing mindful consumption, and leveraging MoneyX, you can savor life’s best moments without compromising your savings. True fulfillment comes from balancing your desires with your financial goals, ultimately allowing you to enjoy a lifestyle that reflects both joy and financial wellness. So, embrace smarter spending, make informed decisions, and start living on your own terms—without the fear of missing out. Download MoneyX today!
Malaysia’s Fuel Subsidy Cuts Impacts Your Daily Life
Malaysia cuts fuel subsidies; find out the effects on your daily life, the support available from the government, and the upcoming potential shifts in petrol subsidies.
On June 10, 2024, Malaysia took a significant step by removing diesel subsidies. This measure aimed to reduce the burgeoning diesel subsidy bill, which escalated from RM1.4 billion in 2019 to RM14.3 billion in 2023, and to curb leakages from diesel smuggling. Consequently, diesel prices in Peninsular Malaysia surged by 56%, from RM2.15 to RM3.35 per litre. Despite these changes, Malaysia’s new diesel pump price remains the cheapest in ASEAN, barring Brunei.
The removal of the diesel subsidy marked a significant shift in policy aimed at reducing the financial burden on the national budget and encouraging more efficient fuel use. This move has spurred discussions about the potential elimination of petrol subsidies, particularly for RON95, and its likely effects on the Malaysian economy and society. The diesel subsidy removal offers a glimpse into the possible challenges and impacts of phasing out petrol subsidies. .
The History and Burden of Petrol Subsidies
The petrol subsidy in Malaysia has been a significant component of the nation’s economic policy for decades. Introduced in the 1980s during the tenure of the former Prime Minister Dr Mahathir Mohamad, the Automatic Price Mechanism (APM) aimed to alleviate the cost of living for Malaysians by keeping fuel prices affordable. Under the APM, the government would subsidise the price differential if the market price was more significant than the retail price.
This policy was crucial during high global oil prices, ensuring that transportation and essential goods remained accessible to the general populace. Over the years, the subsidy has played a pivotal role in shaping Malaysia’s economic landscape. However, it has also sparked considerable debate regarding its long-term sustainability and financial impact.
The financial burden of subsidies became particularly evident in 2008. Spending on subsidies peaked at 22% of revenue from total oil exports, exceeding even spending on essential supplies and services. This coincided with the global financial crisis and a spike in oil prices, leading to a significant deterioration in Malaysia’s fiscal health. 2009, the economy contracted by 1.5%, and the fiscal deficit reached its highest level since 1982. This was partly due to the release of two stimulus packages worth RM67 billion aimed at mitigating the crisis but also a consequence of the rising subsidy costs.
Beyond the financial strain, the subsidy program also faced criticism for creating economic distortions, such as overconsumption and waste of subsidized fuel. Additionally, leakages due to smuggling resulted in unintended beneficiaries, with untargeted subsidies often disproportionately benefiting industries and higher-income households rather than the intended low-income groups. The fuel subsidy, which was primarily created to help the poor, has ironically benefited the wealthy population more. The poorest 20% of the population receive only 7% of the subsidy’s benefit, while the wealthiest 20% receive a disproportionate 43%. This misallocation of resources underscores the need for a more equitable and efficient system that truly supports those in need while minimising economic inefficiencies.
This inefficiency highlights that for every RM1 billion spent on subsidies, resources could have been better allocated to essential infrastructure like hospitals, schools, or roads. The rationale behind removing the subsidies is to address these issues by reducing inefficiencies and reallocating funds more effectively. By shifting from blanket subsidies to targeted assistance, the government aims to improve fiscal sustainability and direct resources towards critical areas such as infrastructure, public transportation, and social programs, ultimately fostering a more sustainable economic environment. For example, a targeted subsidy transfer of RM150 a month to the B40 group would cost the government around RM5.7 billion a year. This is much lower than the RM45 billion spent on blanket RON95 fuel subsidies.
While removing petrol subsidies poses a significant financial burden, it offers a notable long-term benefit. Redirecting the substantial resources spent on fuel subsidies can significantly enhance critical areas such as public transportation infrastructure, social programs, and healthcare investments. For instance, every RM1 billion saved from subsidies could fund the construction of 5 hospitals, 20 schools, or 50 km of roads. Higher petrol prices encourage Malaysians to reduce their reliance on personal vehicles, opting instead for carpooling, public transport, or alternative modes of transportation. This shift will alleviate traffic congestion, reduce emissions, and contribute to a more sustainable future.
However, removing fuel subsidies has sparked considerable concerns among Malaysians, who feel frustrated about bearing the brunt of higher fuel costs and the potential for increased prices of everyday goods. The government’s challenge is to convincingly demonstrate that these short-term hardships are essential for ensuring long-term economic stability and growth. For example, by redirecting funds previously allocated to subsidies, the government can invest in expanding and improving public transportation systems, making them more reliable and accessible.
Anticipating the Impact of RON95 Subsidy Removal
The removal of the RON95 petrol subsidy is set to have a significant impact on Malaysian consumers, with profound implications for the cost of living and economic stability. Unlike the diesel subsidy, which primarily affects businesses, eliminating the RON95 petrol subsidy will directly impact consumers, particularly those from lower-income groups.
The B40 demographic, representing the bottom 40% of income earners in Malaysia, relies heavily on personal vehicles for commuting and daily activities. With the removal of the RON95 subsidy, these households will likely face a sharp increase in fuel expenses, exacerbating their financial burden. As petrol prices rise, so will the cost of transportation, leading to higher prices for essential goods and services. This domino effect can strain household budgets, making it more difficult for families to afford necessities.
Removing fuel subsidies seems like a straightforward economic move, but it could disproportionately impact Malaysia’s B40 demographic. Their reliance on vehicles for transportation makes them especially vulnerable to rising fuel costs, potentially leading to a domino effect on everyday goods. Dr. Shankaran Nambiar, a senior research fellow from The Malaysian Institute of Economic Research (MIER), suggests targeted assistance programs to mitigate the burden on low-income Malaysians. However, he also highlights the complexities involved. Even with targeted subsidies, the cost of transporting essential goods like groceries is likely to increase. He emphasises the difficulty of ensuring only the B40 benefit and managing the public perception of a higher cost of living, even with potential cash handouts.
Government Measures to Mitigate Impact
The government has implemented several measures to mitigate the impact on consumers following the removal of diesel subsidies. Prime Minister Datuk Seri Anwar Ibrahim announced that subsidies would still cover around RM7 billion, focusing on targeted assistance to ensure the subsidies reach the appropriate groups. Subsidies and assistance will continue for bus and taxi operators, fishermen, smallholders, farmers, and traders in the B40 and M40 income groups who use diesel for their businesses or farming activities. These measures aim to protect lower-income groups and essential service providers while saving the government an estimated RM4 billion annually.
He added that under the targeted diesel subsidy implementation, the government has set diesel fuel prices for eligible sectors as follows:
- Subsidised Diesel Control System (SKDS) 2.0, which provides fleet cards to eligible logistics vehicles to mitigate the impact of the diesel price on consumer goods prices, is set at RM2.15 per litre.
- Subsidised Diesel Control System (SKDS) 1.0 for land public transport, including school buses, express buses, ambulances and fire engines remains at RM1.88 per litre.
- Subsidised diesel for fishermen is maintained at RM1.65 per litre
Coping Strategies
As fuel costs rise, Malaysians could adopt several strategies to manage and mitigate the impact on their budgets. A key component of these strategies involves the adoption of electric vehicles (EVs), supported by various government initiatives.
Adoption of Electric Vehicles (EVs)
The Malaysian government has implemented several measures to encourage the adoption of EVs:
- Tax Exemptions: Exemptions on import and excise duties for EVs have been introduced, making these vehicles more affordable for consumers. This financial support significantly reduces the overall cost of purchasing an EV.
- Charging Equipment Scheme: The scheme includes the purchase, installation, or rental of EV charging equipment for personal use, up to RM2,500, extended until 2027.
- Cost Efficiency: According to Tenaga Nasional Berhad (TNB), the fuel cost for EVs is estimated to be 11.4% – 51% lower than for internal combustion engine (ICE) cars. This substantial saving on fuel costs makes EVs an economically viable option as petrol prices continue to rise.
In addition to EV cars, the government is promoting the use of electric motorcycles through the Skim Galakan Penggunaan Motosikal Elektrik:
- Income-Based Incentives: This scheme applies to Malaysians with annual incomes of RM120,000 or less.
- Direct Rebates: It offers direct rebates on electric motorcycles up to RM2,400, making them more accessible and affordable for a broader population segment
Despite having electric vehicles as an option, Malaysians may still need to adopt various measures to save money and adapt to the potential rise in fuel costs and the removal of fuel subsidies.
- Shifting Travel Habits: Public transportation or carpooling can significantly reduce reliance on personal vehicles.
- Fuel Efficiency: Regular car maintenance, practicing fuel-efficient driving techniques, and considering more diminutive, more economical vehicles can help stretch a tank of gas further.
- Planning and Budgeting: Consolidating errands and planning trips efficiently can minimise unnecessary driving. Reviewing budgets and adjusting spending habits may be necessary to account for increased transportation costs.
Reassessing Fuel Subsidies in Malaysia
Fuel subsidies in Malaysia have long been essential for stabilising the economy and protecting consumers from fluctuating global oil prices. However, the long-term sustainability of these subsidies is increasingly in question. As the government considers phasing out petrol subsidies, it is crucial to evaluate the potential economic, social, and environmental impacts comprehensively. While the immediate effects may pose challenges, the move presents an opportunity for Malaysia to enhance market efficiency, promote sustainability, and achieve more equitable economic growth.
Removing fuel subsidies in Malaysia represents a pivotal shift toward a more sustainable and efficient economic framework. While this policy change is a crucial element of a broader reform strategy, it underscores the need for a nuanced approach that balances economic efficiency with social responsibility. The government must address the financial strain on affected sectors through well-designed support measures. Despite the introduction of targeted assistance and fleet cards, challenges persist, particularly for small and micro-businesses grappling with increased fuel costs. It is vital to continuously evaluate and adapt support mechanisms to ensure that the transition benefits the entire economy without disproportionately burdening vulnerable groups. This balanced approach will enhance economic stability and promote a fair and inclusive transition to a more sustainable future.
Power Your Home: Embracing Solar Energy in Malaysia
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EPF Account 3 Withdrawals Explained
Your EPF Account 3: Simplified Withdrawals! Understand eligibility, minimums, and the KWSP i-Akaun app process. Get started now!
Analyze your income, expenses, and cash flow to understand your financial situation.
EPF Account 3: Is Early Withdrawal Worth the Risk?
Malaysians are withdrawing funds from the new EPF Account 3 to address short-term needs. But is it a smart move? Read more to know.
Analyze your income, expenses, and cash flow to understand your financial situation.
Swipe Smarter: Guide to Avoiding 5 Credit Card Pitfalls
Getting started with credit cards? Learn how to be smarter by swiping in Malaysia. Our guide tackles 5 key credit card mistakes & unlocks the path to financial freedom
Analyze your income, expenses, and cash flow to understand your financial situation.