No. I am not talking about your home with mortgage. No. I am not talking about your hire-purchase vehicle either. As most people understand, the mortgage of their home is the liability. You owe the bank money. In return, you need to charge your house title to the bank as collateral. So you think you actually have an asset to pay for your liability. You think your actual home is the "asset", that when you can't afford the installment, it can pay off your mortgage by being auctioned to third parties. You ...

Most people won't be thinking about their death. But once in a blue moon, we somehow worry about the consequences of our premature death. That's why we have a WILL, especially for those with more assets (or liabilities) or young children. By writing a WILL, we have stored aside a golden key for our heirs to unlocked our assets in the future. The best benefit of all is the convenience and preservation we hope that a WILL can do for our family, when it needs to. If you have engaged a professional ...

Recently, I received a letter from Rockwills - the biggest will writing company in Malaysia. My Will is kept in their safe custody for my lifetime. There are three documents in the envelope: 1. A new Personal Asset Inventory Booklet - This is a very handy booklet that let you record all your assets, including bank accounts, safe deposit box, cars, liabilities and many other stuff you probably won't notice at all. I don't have much use of this booklet because I store a soft copy version using Microsoft Excel, which is ...

It is time to file your income tax. Find out more about a free tool to help you with your tax calculation at the forum. The application is called TaxSaya. Read our discussion here, started by Jerry Lee.

I received a query on debt management. Hi, Mr Lau, First of all, many thanks to you for giving me the free e-book. Its’ worth reading, cause I’m aware of unit trust investment now. As introductory, I’m female, age 33, working in a factory. I’m in debt, honestly. I’m in debt of personal loan, housing loan, credit card loan. However I’m also having passive income, if that’s correct to describe my monthly income from 3 acre land of kelapa sawit. But honestly I’m not a decision maker in financing. Would you please advise me on below problem; Debt ...

Someone forward this very nice and informative presentation file to me. [HTML1] (RSS reader: There is a slide presentation embedded in this post. Please visit this page to view it) I don't know who make it. But I would like to thank him personally. If you are the creator of this presentation file, please contact me and provide your mailing address. I've something for you (something nice). 4/4/2008 Update: The above information was extracted from Personal Money Magazine March 2008 issue. For more information, please buy a copy of the magazine. (Highly recommended). Thanks Chee Yang ...

The value of money relatively differ depends on where, when and how you measure it. It boils down to the following question to relatively determine the value of money. Where is your money? Photo by noahwesley Where you put your money determines how much value it has, in the future. Put it in bank, your money is relatively lower compared to putting it in investment. If you have your money set aside long term in a great company, or in a real property located at prime areas, the value of your money is ...

Does financial security simply mean not having to worry about money? That's too simple to define such a broad meaning of "financial security". You might not have to worry about money during a great time where jobs are everywhere, and your country's economy is doing very well, and earning money is so easy. But will you start worrying when it is recession time? Would you worry about money if your family members were hit by a deadly disease? Would you worry about money if suddenly you are unable to climb ...

It is undeniable that the living expenses in Malaysia are getting higher at a much faster rate, although inflation reports that the rate is low. Feeling the pressure of petrol subsidy cut, and rising cost of almost everything, from toll charges to hawker food - life is definitely getting harder. Humans are extremely flexible. We can cope with the situation with some compromise and sacrifice. When money is no longer enough, we can always find ways to cut some expenses. Being frugal simply means living below your means. However, less ...

How much is your current income being deferred for future consumption? 10%? 20%? or more? [HTML1]