Continue from my previous Employee Provident Fund (EPF) series of posts about Malaysian EPF and EPF Contribution, today is the most important, your EPF beneficiaries nomination.
Nominate EPF Beneficiaries
Malaysian EPF
All employees in Malaysia have a retirement fund called Employee Provident Fund aka EPF. The purpose of the EPF is to help Malaysian to have a saving account for retirement. However, there are also self-employed provident fund from private sector. The purpose is the same, saving for retirement.
Get Rich Quickly
When I was young, I always dreaming of to get rich quickly. I wish that I will be given a chance to make big bucks in a life time. Making big money is an easy job in my mind that time. I think I can I dream to become successful business man. Do you have same dreams too?
This dream continue until I received my salary two weeks ago. It is not my first salary in life but it is my first salary with financial knowledge in life. During the school time, all part-time salary were gone to buying wanted stuff to gratify myself. That time, I never think of what kind of life I wanted to live on and no financial goal in life. As you can see, goal is very important in life. Once you have goal, you will persuade your goal and do certain sacrifice in life in order to achieve the goal.
All Roads Lead To Rome
I like this idiom, all roads lead to Rome. This idiom mean you have different ways of doing something but achieving same goal. This idiom imply in our life but not many are aware of it.
We all have one goal in life, financial freedom. No one likes to work. No one likes to be in stress. No one likes to take order from superior. Everyone hopes that the y can enjoy without working. So why we work? We work to earn money for survive. We are walking on our chosen pathway to achieve financial freedom.
Top 100 Personal Finance Blog
Wisebread had compiled a top 100 personal finance blog list on web. What a huge project it is. As you know, there are many scams and useless information on the web. How many can you digest in these world wide web?
Ideal Salary Allocation?
I had been working for 2 months as temporary teacher. My salary increase from Rm1200 to Rm1900 after my graduation. With adding some allowance, my monthly salary will have slightly more than 2k. Wow, not bad. I am starting falling in love with my job. My salary rate per hour is around RM11.
I had been budgeting for my salary although yet receiving it. Craving for it! It always took a long time for the first time government worker to get paid. Usually will take around 3 months.
Live Below Your Means
Almost all financial expert give advise of to live below your means. In other words, spend less than your earn. If your monthly income is RM2000, you spend less than that amount each month. You don’t buy a 42” LCD TV which might cause around RM5000 or more by installment. This figure have exceed your income limit. A normal flat screen TV will be sufficient for watching. The stuff appear on the screen is exactly the same!
Live below your means definitely is a workable way to achieve financial freedom. You have extra money for saving and for investing in variety of investment. However, live below your means is a get-rich-slowly scheme. You build up your net worth cent by cent.
