Last updated: Wednesday, December 19, 2007
According to The Star as at 27 May 2007: Most Malaysians do not have financial security.
Here are the snapshots based on The Star Today:
Living Costs & Inflation
- Inflation rate is 6.5% in urban areas like KL
- 3 meals a day at RM20 now may cost RM64 in 20 years
- RM500K in your EPF or bank account at retirement may have the purchasing power of RM145,053 in 20 years
- Medical inflation is 15% each year
Personally, I tend to agree with the statement made by the paper today. Saying goes that: it’s easier spending the money rather than saving them.
Some might say: How can we save, we earn so little that it’s not even enough to support my family! Does earning big money solve your problem? Personally, I don’t think so. I’ve seen my people who earns more than RM20K or even RM40K a month, yet their salary is still not enough. I think the more you earn, the more you will spend, oh yes, you need to maintain your status rights 
I personally feels that - It is not about how much you earn, It’s about how much you save. And I’ve been learning the steps from various sources namely my own knowledge & experiences, available books, the internet, and from other colleagues and friends experiences.
Recently, I’ve been reading one good book and still do refer it occasionally for guidance.
This book is called Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age written by David Bach. This is not about MLM or what so ever. It is merely about proven financial principles that is inspiring with an easy to follow guide.
For those who wants to read and own this book you can simply go to any bookstore near you and buy it. You can also buy it online.
P/s: I would love to hear about your life changing status after reading the book.
Recommended Readings:
lrech
