{"id":46458,"date":"2021-01-19T19:43:48","date_gmt":"2021-01-19T11:43:48","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=46458"},"modified":"2021-08-19T17:19:18","modified_gmt":"2021-08-19T09:19:18","slug":"money-tips-2021","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/money-tips-2021","title":{"rendered":"17 Influencers Share Their Best Money Tips For 2021"},"content":{"rendered":"<h4><em>\u201cWhat\u2019s your best money tip for Malaysians so we can do well this year?\u201d<\/em><\/h4>\n<p>Every January, I ask this question to a bunch of personal finance influencers. Some are CEOs, others are licensed financial planners, and I\u2019m always honored to have Malaysian Twitterati join in.<\/p>\n<p>It\u2019s a super-diverse pool of experience and expertise. So to help us focus, I asked for tips in the below areas:<\/p>\n<ul>\n<li>General Personal Finance<\/li>\n<li>Investment (including Properties)<\/li>\n<li>For Women<\/li>\n<li>For Young Malaysians<\/li>\n<li>Bonus: Bitcoin and Crypto<\/li>\n<\/ul>\n<p>I hope you\u2019ll find something meaningful this year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"General-personal-finance\"><\/span><strong>General personal finance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"See-Wai-Hun-CEO-of-iMoney\"><\/span><strong>See Wai Hun, CEO of iMoney<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(<a href=\"https:\/\/www.imoney.my\/\">iMoney<\/a>\u00a0is the leading Malaysian financial-comparison website, which also hosts a great\u00a0<a href=\"https:\/\/www.imoney.my\/articles\/\">learning center<\/a>. Wai Hun is the big boss here.)<\/em><\/p>\n<p>With this prolonged pandemic, even those who had an emergency fund may find it depleted, especially if they lost income last year.<\/p>\n<p>Focus on rebuilding and recovery in 2021. It is recommended you save at least 3 months of monthly income or 6 months of monthly expenses to cover living costs and financial commitments.<\/p>\n<p>How do you rebuild your emergency fund? Consider refinancing your mortgage to benefit from the low interest rate today (having more cash on hand doesn\u2019t hurt in these uncertain times). Or consolidate your\u00a0<a href=\"https:\/\/www.mr-stingy.com\/60000-debt\/\">debts<\/a>\u00a0using a low-interest personal loan to avoid missing any payments.<\/p>\n<p>Lastly, look for side hustles that can help increase your income. Year 2020 has definitely taught us to be resourceful and adaptable. We\u2019ve beaten 2020, let\u2019s beat 2021 too!<\/p>\n<ol start=\"2\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Roshan-Kanesan-producer-of-BFMs-Ringgit-Sense-show\"><\/span><strong> Roshan Kanesan, producer of BFM\u2019s Ringgit &amp; Sense show<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Roshan produces and hosts BFM 89.9\u2019s\u00a0<a href=\"https:\/\/www.bfm.my\/podcast\/morning-run\/ringgit-and-sense\/money-goal-tips-with-mr-stingy-and-ringgit\">Ringgit &amp; Sense<\/a>, which is Malaysia\u2019s premier radio show about personal finance. Follow him on Thursday mornings 9:30 AM and his\u00a0<a href=\"https:\/\/roshankanesan.com\/\">blog<\/a>.)<\/em><\/p>\n<p>Specifically for 2021, focus on building your emergency buffer fund.<\/p>\n<p>It\u2019s always exciting to talk about investing and assets, but what I\u2019ve personally learnt from 2020 is the need to be prepared for the unexpected \u2014 to help ease my mind and sleep better at night.<\/p>\n<p>A year ago or so, things were very different and so were my priorities. We weren\u2019t expecting rampant pay or\u00a0<a href=\"https:\/\/www.mr-stingy.com\/thoughts-layoffs-job-losses\/\">job cuts<\/a>, so while having a buffer fund wasn\u2019t top of mind then, now it is.<\/p>\n<p>With some reprioritizing of existing assets, I\u2019ve managed to reach 6 months of conservative expenses, but I\u2019m aiming for 12. It\u2019ll take me time, but for peace of mind, I feel it\u2019ll be worth it.<\/p>\n<ol start=\"3\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Suzardi-Maulan-IFP-aka-Pakdi-investor-financial-planner-and-trainer\"><\/span><strong>Suzardi Maulan, IFP a.k.a. Pakdi, investor, financial planner and trainer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Pakdi is a certified Islamic Financial Planner who\u2019s been educating people about money since 2005. Find his writings at\u00a0<a href=\"https:\/\/www.pakdi.net\/\">Pakdi.net<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.facebook.com\/pakdi.net\">Facebook<\/a>.)<\/em><\/p>\n<p>Do what gives you peace of mind during this uncertain period.<\/p>\n<p>If you can get inner\u00a0<a href=\"https:\/\/www.mr-stingy.com\/journey-finding-satisfaction-life\/\">peace<\/a>\u00a0by having all your money in cash, do it. If you think paying off debt is the way, so be it. If you believe gold or cryptocurrency will protect you better financially, go get it.<\/p>\n<p>We\u2019re currently navigating uncharted territory. I\u2019ll do what I know best, which is stock market investing. But that\u2019s just me.<\/p>\n<ol start=\"4\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Suraya-Zainudin-founder-of-Ringgit-Oh-Ringgit\"><\/span><strong> Suraya Zainudin, founder of Ringgit Oh Ringgit<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Suraya\u2019s\u00a0<a href=\"https:\/\/ringgitohringgit.com\/\">Ringgit Oh Ringgit<\/a>\u00a0is the #1 personal finance blog in Malaysia today. Extremely relatable; great reading for both men and women.)<\/em><\/p>\n<p>Do personality tests. The more you know yourself, the quicker you\u2019ll find out what works for you and what doesn\u2019t.<\/p>\n<p>For example:<\/p>\n<ul>\n<li>The Four Tendencies test tells me I don\u2019t need support groups to stay accountable to my goals (so I don\u2019t need to waste time &amp; money looking for them).<\/li>\n<li>The Big Five Personality Traits test tells me I score very high on\u00a0<em>Openness to Experience<\/em>, so I should allocate budget for experimentation purposes AND be mindful to not overspend.<\/li>\n<li>The Love Language test tells me gift-giving is NOT my primary love language (I\u2019ve informed my partner so he doesn\u2019t need to waste money).<\/li>\n<li>The Financial Behavior Report tells me I prefer\u00a0<a href=\"https:\/\/www.mr-stingy.com\/diy-investment-options-malaysia\/\">DIY financial planning<\/a>than working with a professional (so I better not slack off and keep on learning).<\/li>\n<\/ul>\n<p>There are more; feel free to reach out to me anytime on this topic and\/or where to find them!<\/p>\n<ol start=\"5\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"KC-Lau-founder-of-KCLaucom\"><\/span><strong> KC Lau, founder of KCLau.com<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(I\u2019ve been reading\u00a0<a href=\"https:\/\/kclau.com\/blog\/\">KC Lau<\/a>\u00a0since I was a clueless university student more than 14 years ago. He\u2019s a legend in the Malaysian personal finance space.)<\/em><\/p>\n<p>Retail investors usually make the mistake of chasing the next hot trend. For example: Bitcoin and Tesla stocks might have grabbed your attention as they reached all-time highs in Jan 2021.<\/p>\n<p>On the other hand, value investors buy an asset at a discount to its value. That\u2019s how you minimize the\u00a0<a href=\"https:\/\/www.mr-stingy.com\/downside-everything\/\">downside<\/a>.<\/p>\n<p>I would love to see more people invest more rationally, rather than emotionally.<\/p>\n<div id=\"attachment_46463\" style=\"width: 1210px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193718\/peace-of-mind_main.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-46463\" class=\"size-full wp-image-46463\" src=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193718\/peace-of-mind_main.jpg\" alt=\"influencers money tips 2\" width=\"1200\" height=\"600\" srcset=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193718\/peace-of-mind_main.jpg 1200w, https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193718\/peace-of-mind_main-300x150.jpg 300w, https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193718\/peace-of-mind_main-768x384.jpg 768w, https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193718\/peace-of-mind_main-800x400.jpg 800w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><p id=\"caption-attachment-46463\" class=\"wp-caption-text\">Some would say peace of mind is worth a lot more than investment returns<br \/>Image source: <a href=\"https:\/\/www.freepik.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Freepik<\/a><\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Investment\"><\/span><strong>Investment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol start=\"6\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Julian-Ng-CEO-and-co-founder-of-Akru\"><\/span><strong> Julian Ng, CEO and co-founder of Akru<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Julian is the co-founder of\u00a0<a href=\"https:\/\/akrunow.com\/\">Akru<\/a>, Malaysia\u2019s first home-grown robo-advisor.\u00a0We first met during his show at\u00a0<a href=\"https:\/\/www.bfm.my\/rns-aaron-tang-mr-stingy-how-to-do-well-financially-in-2017.html\">BFM<\/a>\u00a0and share a love for\u00a0contrarian ideas.)<\/em><\/p>\n<p>It\u2019s another year of uncertainty. Vaccinate when the time comes.<\/p>\n<p>I\u2019m also taking a serious look at crypto because of the trillions in stimulus expected from the Biden administration. I rarely give short-term outlooks but I\u2019m also\u00a0<em>not<\/em>\u00a0asking to sell the house to buy\u00a0<a href=\"https:\/\/www.mr-stingy.com\/why-believe-bitcoin\/\">crypto<\/a>. I\u2019m saying maybe spend some beer money on it.<\/p>\n<p>Maybe barbell the portfolio.<\/p>\n<ol start=\"7\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Divvy-founder-of-Dividend-Magic\"><\/span><strong> Divvy, founder of Dividend Magic<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(<a href=\"http:\/\/dividendmagic.com.my\/\">Divvy<\/a>\u00a0is only in his early 30s, but\u00a0already has a six-figure stock portfolio worth more than RM 545,000. He was the first Malaysian I knew to openly share his\u00a0<a href=\"http:\/\/dividendmagic.com.my\/portfolio-freedom-fund\/\">stock market portfolio<\/a>.)<\/em><\/p>\n<p>2020 was huge for investors. Those with savings, and the correct mindset would\u2019ve definitely been able to capitalize on the opportunities. With vaccines and conditions stabilizing in 2021, it\u2019ll be interesting to see if markets will be slower this year.<\/p>\n<p>Regardless, my advice has always been to save and then\u00a0<a href=\"https:\/\/www.mr-stingy.com\/how-invest-own-money\/\">invest<\/a>. AND when an opportunity presents itself, invest more.<\/p>\n<ol start=\"8\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Eza-Ezamie-co-founder-of-Majalah-Labur\"><\/span><strong>Eza Ezamie, co-founder of Majalah Labur<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Eza is the co-founder and COO of\u00a0<a href=\"https:\/\/www.majalahlabur.com\/\">Majalah Labur<\/a>, the country\u2019s premier Bahasa Malaysia website about investing.)<\/em><\/p>\n<p>With every hardship, there will be ease afterwards. With the recession taking place in 2020, I foresee the economy will recover in 2021.<\/p>\n<p>Make sure you stay invested, whether in good times or\u00a0<a href=\"https:\/\/www.mr-stingy.com\/invest-recession-depression\/\">bad times<\/a>. And ready yourself with some cash reserves, in case a good investment opportunity comes around.<\/p>\n<p>Tell yourself this, \u201cHistory will repeat itself.\u201d<\/p>\n<p>Just look at what happened after the 1998 Asian Financial Crisis and the 2008 Subprime Mortgage Crisis. So here\u2019s to an exciting year ahead for everyone.<\/p>\n<ol start=\"9\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Wong-Wai-Ken-country-manager-Stashaway\"><\/span><strong>Wong Wai Ken, country manager, Stashaway<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Ken is the country manager for\u00a0<a href=\"https:\/\/www.stashaway.my\/ref\/mr-stingy-CAcAAg4MCA8NAA0HBAAJCg\">StashAway<\/a>, the first licensed robo-advisor in Malaysia. Every time I sit down with him, I feel like I\u2019m learning something new about the financial world.)<\/em><\/p>\n<p>2020 showed us managing risks or potential downside is vital. Your portfolio needs to be protected at all times through diversification in your asset allocation \u2014 by investing across different asset classes.<\/p>\n<p>Each\u00a0<a href=\"https:\/\/www.mr-stingy.com\/how-build-investment-portfolio\/\">portfolio<\/a>\u00a0should have domestic and international exposure to stocks, bonds, gold, real estate and other alternatives \u2014 so if one asset underperforms, your portfolio is protected.<\/p>\n<p>Add to this dollar cost averaging (diversifying your deposit timeline if you like), and you\u2019ll be on your way to successfully investing for the long term.<\/p>\n<ol start=\"10\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Stev-Yong-founder-of-MyPF\"><\/span><strong>Stev Yong, founder of MyPF<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(<a href=\"https:\/\/mypf.my\/resources\/\">MyPF<\/a>\u00a0is an award-winning financial education\u00a0platform dedicated to help Malaysians simplify and grow their personal finances. And it all started from a blog by Stev back in 2013.)<\/em><\/p>\n<p>Last year was\u00a0<a href=\"https:\/\/www.mr-stingy.com\/goodbye-2020\/\">crazy<\/a>\u00a0seeing among the worst corrections and the highest highs ever. Let us apply the hard-earned lessons we\u2019ve learned into 2021:<\/p>\n<ul>\n<li>Be resilient by having an investment plan and sticking to it.<\/li>\n<li>Be adaptive through diversification, asset allocation, and dollar cost averaging.<\/li>\n<li>Avoid greed and FOMO \u2014 whether it\u2019s Bitcoin, penny or glove stocks.<\/li>\n<\/ul>\n<p>Let us not only survive. But let us simplify and thrive in our personal finances and investing!<\/p>\n<ol start=\"11\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Charles-Tan-founder-of-Kopiandproperty\"><\/span><strong>Charles Tan, founder of Kopiandproperty<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Charles is a Malaysian property expert who writes at\u00a0<a href=\"https:\/\/kopiandproperty.com\/\">kopiandproperty.com<\/a>. I asked him if he had any property-specific tips.)<\/em><\/p>\n<p>Property market growth must depend on economic growth. Without economic growth, any property market growth will be speculative and unlikely to be sustainable. Many have predicted 2021 GDP growth will be better than\u00a0<a href=\"https:\/\/www.mr-stingy.com\/influencers-money-tips-2020\/\">2020<\/a>.<\/p>\n<p>This forms a base for our property investment decisions, but the three most important questions remain:<\/p>\n<ol>\n<li>Do we understand what is property investment?<\/li>\n<li>Have we done sufficient due diligence on what we are buying?<\/li>\n<li>Are we buying a property we can afford?<\/li>\n<\/ol>\n<p>If we answer \u201cNo\u201d to even one of these three questions, it may be best to invest in something else. Happy investing.<\/p>\n<div id=\"attachment_46464\" style=\"width: 1210px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193913\/diversify-your-investments_main.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-46464\" class=\"size-full wp-image-46464\" src=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193913\/diversify-your-investments_main.jpg\" alt=\"Influencers money tips 3\" width=\"1200\" height=\"600\" srcset=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193913\/diversify-your-investments_main.jpg 1200w, https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193913\/diversify-your-investments_main-300x150.jpg 300w, https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193913\/diversify-your-investments_main-768x384.jpg 768w, https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2021\/01\/19193913\/diversify-your-investments_main-800x400.jpg 800w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><p id=\"caption-attachment-46464\" class=\"wp-caption-text\">Diversification protects you in uncertain times.<br \/>Image source: <a href=\"https:\/\/www.freepik.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Freepik<\/a><\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"For-women\"><\/span><strong>For women<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol start=\"12\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Dawn-founder-of-SG-Budget-Babe\"><\/span><strong>Dawn, founder of SG Budget Babe<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Dawn writes about achieving a financially-free lifestyle (including family\/kids topics now!) at\u00a0<a href=\"http:\/\/www.sgbudgetbabe.com\/\">SG Budget Babe<\/a>. I really wish more women would deep dive into personal finance, so hopefully Dawn\u2019s\u00a0thoughts inspire you.)<\/em><\/p>\n<p>Given that we\u2019re coming out of a global pandemic, cautious plays will be key in this year. Take this chance to review your personal finances and plug the gaps \u2014 be it in terms of your emergency funds or insurance coverage.<\/p>\n<p>If your income is only from a single source, consider building a second stream of income (Some ideas:\u00a0<a href=\"https:\/\/www.sgbudgetbabe.com\/2020\/05\/how-to-earn-side-income-during-covid-19.html\">here<\/a>).<\/p>\n<p>And when it comes to your investments, always remember to weigh your\u00a0<a href=\"https:\/\/www.mr-stingy.com\/how-win-world-probabilities\/\">risk-reward ratio<\/a>\u00a0before you make any decisions. Don\u2019t just blindly follow the crowd, or even online \u201cgurus\u201d for stock tips \u2014 best that you build your own knowledge to do your own.<\/p>\n<ol start=\"13\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Suyin-Ong-founder-of-Suyin-Invests\"><\/span><strong>Suyin Ong, founder of Suyin Invests<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Suyin hosts a\u00a0<a href=\"https:\/\/www.youtube.com\/user\/SuyinOng26\/featured\">YouTube channel<\/a>\u00a0about what people can do to build good relationships with money \u2014 so they\u2019re free to lead great lives. I asked if she had any specific money tips for women.)<\/em><\/p>\n<p>ASK.<\/p>\n<p>I tend to seek out \u201cthe right time\u201d when it comes to having that money conversation, and unfortunately, this has worked against me.<\/p>\n<p>Be\u00a0<a href=\"https:\/\/www.mr-stingy.com\/how-do-things-when-scared\/\">bold<\/a>. Ask for that raise. Ask to be paid well in exchange for the work you do \u2014 do not wait until you feel you deserve it or have earned it. Because chances are, you already have! Probably months ago too.<\/p>\n<p>You are capable, much more than you think you already are. And when you\u2019re feeling low, remember too to ask for support.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"For-young-people\"><\/span><strong>For young people<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol start=\"14\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Farid-Bahrudin-guru-to-young-graduates\"><\/span><strong>Farid Bahrudin, guru to young graduates<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Farid Bahrudin regularly shares money and career tips for young graduates to &gt;100,000 followers on Twitter. Follow him at his personal account here:\u00a0<a href=\"https:\/\/twitter.com\/faridbahrudin\">@faridbahrudin<\/a>)<\/em><\/p>\n<p>Three years ago, my advice here was to aim for 3-6 months of emergency savings. Hopefully my advice benefited those who were impacted by the Covid-19 pandemic.<\/p>\n<p>Some further pandemic tips:<\/p>\n<ol>\n<li>To know what to\u00a0<a href=\"https:\/\/www.mr-stingy.com\/only-4-things-care-life\/\">prioritize<\/a>first \u2014 to survive, to have savings, or invest to grow money?<\/li>\n<\/ol>\n<p>You can do all these the safe way (practically zero risk), by putting your money in ASB. Where even if you need money urgently, you can withdraw it.<\/p>\n<ol start=\"2\">\n<li>To plan and wisely make use of benefits. For example:\u00a0<a href=\"https:\/\/portalsemakan.com\/semakan-bpn\/\">BPN<\/a>, the extra 2% employer EPF contribution, and any\u00a0<a href=\"https:\/\/www.mingguanjawatan.com\/2020\/11\/perbezaan-antara-i-lestari-dan-i-sinar.html\">i-Lestari or i-Sinar<\/a> Please don\u2019t fall into get-rich-quick schemes.<\/li>\n<\/ol>\n<p>And save any extra money you\u2019ve received for a rainy day.<\/p>\n<ol start=\"3\">\n<li>Please support local businesses. Buy from them.<\/li>\n<li>Not financially related, but please follow all health SOPs and take care of yourself.<\/li>\n<\/ol>\n<ol start=\"15\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Faiz-Wahab-licensed-financial-planner-speaker-writer\"><\/span><strong> Faiz Wahab, licensed financial planner, speaker, writer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Faiz is a licensed financial planner who tweets about finance and investment in everyday language at his 53.5K Twitter account\u00a0<a href=\"https:\/\/twitter.com\/faizwahab\">@faizwahab<\/a>. He\u2019s also a public speaker and writes at\u00a0<a href=\"https:\/\/faizwahab.com\/blog\/\">FaizWahab.com<\/a>)<\/em><\/p>\n<p>2021 will be interesting for those who want to start their investing journey.<\/p>\n<p>The market is expected to have ups and downs throughout the year. If you\u2019re good at timing the market, you may try to enter at a lower entry point. However, if you\u2019re not an expert, you can either leverage on\u00a0<a href=\"https:\/\/www.mr-stingy.com\/experience-licensed-financial-planner-malaysia\/\">professionals<\/a>\u00a0to help grow your investments, or you can start dollar cost averaging.<\/p>\n<p>There are lots of investment opportunities you may want to try. It is not wrong to try, but you need to first cover the essential parts of personal finance \u2014 such as emergency savings and insurance\/takaful.<\/p>\n<ol start=\"16\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Chin-Yi-Xuan-founder-of-No-Money-Lah\"><\/span><strong>Chin Yi Xuan, founder of No Money Lah<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Yi Xuan is the founder of\u00a0<a href=\"http:\/\/nomoneylah.com\/\">No Money Lah<\/a>, where he writes about adulthood issues openly \u2014 like money and happiness. He\u2019s an economics graduate from Universiti Malaya, and currently a full-time trader and investor.)<\/em><\/p>\n<p>2021 is going to be another turbulent year. That\u2019s why it\u2019s important to do a quick financial health check at the start: do you have enough emergency funds?<\/p>\n<p>Next, focus on keeping and even increasing your income in 2021 \u2014 that\u2019s what\u2019s putting food on the table right? Ask yourself the following questions:<\/p>\n<p>How can you add\u00a0<a href=\"https:\/\/www.mr-stingy.com\/get-rich-leverage\/\">unique value<\/a>\u00a0to the stakeholders in your work? How can you help solve the pain points\u00a0of your employers\/clients\/colleagues? To do that, I encourage you to think differently \u2014 attempt to look at your work through different lenses.<\/p>\n<p>The moment you can do so, you\u2019re well placed to demand for higher pay at work. If not, there are always better places that would appreciate your unique value and perspectives!<\/p>\n<p>To dive deeper, I highly recommend the book\u00a0<a href=\"https:\/\/www.bookxcessonline.com\/products\/linchpin-are-you-indispensable-1?_pos=1&amp;_sid=00a896e89&amp;_ss=r\">Linchpin<\/a>\u00a0by Seth Godin for all young Malaysians.<\/p>\n<ol start=\"17\">\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Mohd-Kauthar-Rozmal-editor-researcher-writer\"><\/span><strong>Mohd. Kauthar Rozmal, editor, researcher, writer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ol>\n<p><em>(Kauthar shares his unique perspectives about personal finance, investing and the economy for young Malaysians at\u00a0<a href=\"https:\/\/twitter.com\/mohdkautharr\">@mohdkautharr<\/a>.)<\/em><\/p>\n<p>In 2020, even though the economy was going down, the stock markets (and\u00a0<a href=\"https:\/\/www.mr-stingy.com\/why-invest-in-bitcoin-2020\/\">crypto<\/a>) were going up. More and more people were getting involved.<\/p>\n<p>While many are sharing their profits on social media, please be aware investment is a marathon, not a sprint. Yes, you can make money from trading, but the fact is 90% of traders lose money in the market.<\/p>\n<p>For new investors and traders, focus on strengthening your fundamentals. Build up your emergency savings, improve your cashflow, and have adequate protection (insurance\/takaful).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bonus-Bitcoin-and-Crypto\"><\/span><strong>Bonus: Bitcoin and Crypto<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"David-Low-Southeast-Asia-general-manager-of-Luno\"><\/span><strong>David Low, Southeast Asia general manager of Luno<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><em>(<a href=\"https:\/\/www.luno.com\/en\/invite\/CWRW6\">Luno<\/a>\u00a0is the #1 Digital Asset Exchange in Malaysia, regulated by the Securities Commission. It\u2019s the safest and easiest way to start investing in Bitcoin. With all the recent hype, I asked David \u2014 who\u2019s also my boss in my day job \u2014 if he had any tips for Malaysians to get started with crypto.)<\/em><\/p>\n<p>Start with a small amount you\u2019re willing to experiment with. This can be as low as RM 3. Once you have skin in the game, it\u2019ll incentivize you to learn more about this remarkable technology.<\/p>\n<p><a href=\"https:\/\/www.mr-stingy.com\/why-invest-in-bitcoin-2020\/\">Bitcoin<\/a>\u00a0might seem \u201cexpensive\u201d right now, but I recommend you understand it first, before considering other coins.<\/p>\n<p>Once you get past the hype around price and dive into the deeper philosophical aspects of Bitcoin, I believe you\u2019ll be amazed at what you learn.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mr-Stingys-closing-thoughts\"><\/span><strong>Mr-Stingy\u2019s closing thoughts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This year, almost everyone talked about emergency funds and the need for protection.<\/p>\n<p>If there\u2019s one thing 2020 taught us, I think we can all agree it\u2019s life is unpredictable. Even the best-laid plans can get ripped apart by things we could never imagine.<\/p>\n<p>I hope we can all build extremely strong and resilient finances this year. Even if we risk being\u00a0<em>overly<\/em>\u00a0cautious. Even if we have to say goodbye to old, comfortable ways of doing things. That way, whatever crazy 2021 brings, I know we\u2019ll still be okay. And maybe even ready to grab some amazing new opportunity.<\/p>\n<p>Happy New Year 2021. I wish you great success with money, and an even richer life beyond\u00a0that.<\/p>\n<div class=\"block\"><div>Aaron Tang is the founder of\u00a0<a href=\"http:\/\/www.mr-stingy.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">mr-stingy.com<\/a>. He writes about optimising time, money, and relationships \u2013 to make the most out of life.<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Besides emergency funds, they share useful insights on money.<\/p>\n","protected":false},"author":41,"featured_media":46460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,1,256,218],"tags":[],"class_list":["post-46458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-investment","category-lifestyle","category-money-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Malaysian Influencers Share Best Money Tips For 2021<\/title>\n<meta name=\"description\" content=\"I think we can all agree it\u2019s life is unpredictable. 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