6 Ways To Set Yourself Up For Financial Freedom In Your 20s

  • By CompareHero.my
  • June 9, 2021

Your 20s is the best time to get started with anything. Especially in terms of finance. Because like anything else in your life, it’s a skill that needs time to hone. One thing for certain is that apart from trust fund babies, no one ever stumbles on wealth. It’s a deliberate and intentional plan that came from the knowledge a person has. 

Now, to set realistic expectations, you’re probably not going to be financially free in your 20s, but if you mismanage your finances in your 20s, it could spiral you into a rat race in your 30s, 40s, or even 50s. The entire idea is that you have time on your side, so take advantage of this compounding and you’ll thank yourself for this decision when you have a family. 

That being said, even if you’re not in your 20s anymore, here are 6 ways to set yourself up for financial freedom: 

1. Understand inflation and valuation

Because of the COVID-19 situation in Malaysia, there have been a few stimulus packages that were implemented in hopes that it will help society. This is great news for the public but what most people don’t see is what comes after—inflation. Inflation is the silent killer of our buying power. Maybe today you can still buy that Nasi Lemak for RM2, but it may not be the case tomorrow. 

Related: Mild Inflation In 2021: But What Is It And How Can You Cope With Inflation?

However, the value of a certain product has a different meaning. For example, although the property market might be inflated, the value of it might be the fact that you have a safe place to stay. 

This can be a tough lesson to many but it can be the foundation for all the financial decisions in your life. So ask yourself this: 

  • Will this item make me any better? 
  • Does the value I get from purchasing it exceed the price I am paying for it? 


financial-freedom-in-20s-1
Inflation

2. Build passive income

The world is quickly changing as more and more people realise that one single event may cause them to lose their job. For this same reason, it is important to have a passive income source that generates revenue when you sleep. Another benefit of having a passive income stream is alleviating some of the stress knowing that you’ll be alright if you got laid off out of the blue. 

Generating passive income may start slow, but give it a few years and it can grant you the freedom you’ve always wanted. After all, your time on this planet is limited, do you really want to spend most of your time in your office? 

3. Avoid bad debt

Whether it is credit card debts or student loan, make smart decisions when it comes to borrowing money. You don’t have to attend university if the course is not going to help you become a better person or yield more income after you graduate. 

Getting into bad debts early in your career locks you into the cycle of debt that may seem impossible to get out of. Not just that, it will also limit you tremendously when you finally decide that you want to buy that house. 

Related: Know The Difference Between Good Debt and Bad Debt

4. Start investing

Investing at a young age is the biggest advantage anyone can have in the markets. That’s all thanks to the concept of compound interests. The longer you can have your money invested, the higher the exponential growth can be. 

Even if you really have nothing to invest, the least you could do is to educate yourself about investing and how money flows in society. Learn about savings accounts, stocks, bonds, mutual funds, index funds and real estate. Learn about how a tiny commitment each month can easily add up to over a million dollars when you finally retire. 

Related: 7 Dummy-Proof Ways You Can Start Investing Your Money

5. Avoid unnecessary spending

It’s tempting to just go on to Zalora and start browning through each section just to see what they got and end up with a message on your phone saying the parcel will arrive in 5 days. That’s fine, but don’t spend just to keep up with your peers. But at the same time, you don’t have to deprive yourself to do so, either. A crucial part of budgeting is knowing the difference between what you need and what you want. 

financial-freedom-in-20s-2
Shopping online

Establish a habit of saving and following your financial calendar in your 20s. Look for ways to reduce large recurring expenses and invest the balance. Embracing a frugal life will allow you to spend more on the things that mean the most to you later on. And this perspective on life will serve you well beyond your 20s. 

Related: I’m Only 21 Years Old. Do I Need A Credit Score? 

6. Be patient

It can be deterring to see some of your peers excelling at their profession while you still struggle to find yourself. But try your best to focus on yourself. Dig deep inside and figure out who you are as a person. Then, don’t stop at anything until you’re the master of that one thing. 

Many people have forgotten that investing is not the only way to make money. An even better way is to be so good at something that corporations will pay you huge amounts just to have your service. 

Wealth is accumulated over time and you shouldn’t sacrifice your health for it even if you’re 22. Just focus on putting one step ahead of another in your career and a chunk of your income into your investment portfolio. The rest will work itself out over the coming years. 

Read More

5 Realistic Ways To Make Money Online

  • By CompareHero.my
  • June 8, 2021

With the COVID-19 situation in Malaysia, our government is strongly encouraging us to stay indoors to help curb the spread of the pandemic. No surprise, then, that the interest in making money online from the comfort and safety of our homes is now the core subject in many conversations. 

What once was labelled as “the future of working” is now a reality that is not too far fetched for anybody with an Internet connection. The beauty of the Internet is that it is so much more than just a sales channel, a networking hub, or a collection of communities — it is an entire world of its own. 

Here’s the good news, making money online isn’t that complicated. You simply have to learn a few basics and give it time to grow. And to help you learn about the different ways to earn this money, here are five realistic ways to make money online. 

Related: 8 Ways For Stay-At-Home Moms & Dads To Earn More Money

1. Dropshipping

how-to-make-money-online
Dropshipping

Due to the temporary closures of some brick and mortars, consumers were, in a way, herded to using e-commerce for their necessities or wants. What came after was the rise of the e-commerce industry. 

Enter dropshipping. This term is more of a business model where the business owner doesn’t keep the products in stock. Instead, a third-party fulfils and ships the order for you when you sell an item. What’s even more attractive is that the startup cost for this is considerably low! 

But before you go starting your own billion-dollar dropshipping company, know that there are challenges to this as well. One of them being the fact that you are, by no means, selling a new product. So you will be spending quite a bit of time figuring out how you’re going to brand and position yourself among your competitors. 

2. Selling digital products

Digital products carry with them some of the greatest margins of making money online. It may take some time to master and develop what you’re selling, but the variables costs (software etc.) after that is comparatively low. 

Also, a digital product allows you to keep selling it (as long as somebody wants to buy it) as you don’t need to restock the inventory. Not just that, they are tremendously scalable. That means that there is no ceiling to how many you can sell. None of the traditional costs like shipping or utility. 

The best-case scenario is that you end up selling over 10,000 of your product. The worst-case scenario is that you only managed to sell a few and it cost you a few hours. 

3. Blogging

Well, what you’re reading currently is called a blog. Businesses use blogging as a way to share knowledge, insights, build an audience, and improve search engine visibility. But since then, blogging has become such a staple of the Internet that anyone can build an audience and make money from it. 

However, the key is not to target every single person on the Internet. Rather, it is to find a niche that you’re a master in and be that expert people need. It could really be anything, for example, restaurants in Tokyo, professional dessert artist, or even an animal lover. 

After that, your income will come in as you convert this audience to buyers of your physical product, digital product, partnering up with brands, subscription services, or even freelancing services. Again, take your time with this one as it may take a few years until you get the hang of it. 

how-to-make-money-online-1
Person blogging

Related: How Much Money Can You Make As A YouTuber?

4. Affiliate marketing

Contrary to popular belief, affiliate marketing can add up to quite a huge amount of money if you have an audience. Essentially, when someone else uses your link to purchase a product, you will receive credit, along with some commission. So your only job is to promote the link, that’s all. Hence, similar to blogging, you really need to focus on the right audience. 

Different brands may offer different commissions so there may be quite a bit of strategising on your part. The most effective strategy is one that showcases how a certain product is the best solution to the reader’s problems. 

5. Freelance services

Another extremely feasible idea is to offer your expertise to clients online. Whether it is blog writing, graphic designing, data entry, or any sort of consultancy services, some business out there on the Internet is definitely going to need your expertise. Your role is to build that bridge for them to cross over to you. 

Chances are, that you are already an expert in a certain industry. So why not make a little more money by marketing this trait of yours online? You don’t need a lot to start with, there are tons of freelancing websites such as Fiverr, Upwork, and Freelancer to help you get started with looking for clients. 

Don’t say I didn’t warn you but you will be surprised how much money you can actually make with your freelancing gigs. 

Related:

Read More

7 Important Tips To Become More Productive At Work And In Life

  • By CompareHero.my
  • June 4, 2021

Everyone knows that striving to excel at work and ensure your personal time doesn’t go to waste is a difficult task, though almost everyone seems to be doing it on a daily basis.

However, there are times when we feel exhausted and irritated from never-ending workloads and it gets WORSE when something unexpected comes along and jeopardises your carefully laid out plans. Here are some of the reasons why and how you should be productive.

What does it mean to be productive?

But did you know that a person’s success is likely to be determined by consistency? By being consistent and regularly spending time doing something, one will eventually become an expert at it. This is why it is important to know to how to be consistently good at what we do every day, whether it is in marketing, studying, doing housework or even making business decisions. The only way to achieve that is to be productive.

Productivity is used to measure one’s capability to generate output, to leading a team, organization and company’s capacity to produce goods or services to bring in profits and value. From an individual perspective, it reflects your ability to transform their input into output which in other words, their value to create impact.

To ensure your value increases and help you progress up the chain of command, here are some of the tips that may help:

Set goals and KPIs

1. Always set goals/ KPIs for yourself

As cliché as it may sound, setting short term, middle and long term goals make it easier for you to be reminded of the desired accomplishment and outcomes from the particular efforts you make.

Writing it down on a board or typing it into your phone or tablet will ensure the mere existence of the goals and KPIs will be a constant reminder that you need to achieve it within a timeline.

The best way to do this is to working through your daily checklist and then jot down the targeted task for the next day. This way, we are more likely to be aware of our responsibilities on a daily basis and do consider preparing it on a weekly and monthly basis whenever possible.

Know your priorities

2. Learn to prioritise

There will always be tons to do and new requests will often all come at once from your superiors, colleagues, clients and suppliers, so it is important for you to recognise the importance of each of these tasks or requests before you drive yourself crazy.

Now this requires some time for a person to be able to recognise the priority level of each task as is subjective to specific circumstances, such as project, timeline and stakeholders involved. Superior and senior colleagues can only do so much to guide you in sorting out the importance of each task given as they have their own workload to figure out as well.

Over time, it is vital for you observe the type of timeline for projects under certain categories and work out timelines required for each of these categories. E.g., you need two weeks to prepare a sales proposal to an overseas client and it takes three days for you to prepare monthly sales claims from the human resource and admin department.

You need to communicate these details with your team and superiors so that everyone can keep track and be transparent with their own respective timelines.  By managing your timeline and effort needed to perform each task, you can arrange your schedule more effectively.

Take a short break in office

3. Take a short break in between tasks

Working in 90 minute blocks with 10 minute intervals to refresh your mind and body is a key factor for achieving consistency in your work. Think of it as being similar to working out at the gym, if you continue to stretch your muscles for too long without a short break, they will eventually snap.

During the intervals, you perform simple stretching exercises or some breathing exercises to increase the intake of oxygen into the body and brain. This allows your productivity to be kept at optimised levels and over the long term, this will help you to achieve consistency in being good at what you do.

Learn to delegate

4. Learn to delegate

Do not be afraid to ask for help. With or without subordinates, everyone is allowed to ask for assistance especially in thing they are not good at. This is largely encouraged to nurture a team with good collaborative culture in an organisation and company.

A result that gradually progresses and grows from a team’s combined efforts is always more promising than the efforts of an individual. Instead of taking ages to finish endless tasks that leave you feeling overloaded, you can instead focus on a single task without losing track of other tasks or even worse, failing to complete them.

Use charts and technology

5. Utilise charts, calendars, and technology

There are so many online web tools and mobile app platforms like Google Mail, Google Calendar, Evernote, Trello and many others that are easily available for download. Smartphones and tablets are getting even more sophisticated as developers are constantly finding new ways to optimise and improve the way people are living their daily lives. 

Taking notes via a voice recording and transcribing it into words, for instance, is highly applauded by many office executives as they no longer have to manually write it all down. At the same time, preparing a simple presentation through tablets is now even more easily accessible than ever before.

If you believe in old-school practices, prepare a white board in your office to list down the daily tasks or appointments so you and your colleagues or superior are aware of your progress. And also, always carry a small notebook and pen to avoid situations where you need to take down important notes and your smartphone is out of commission.

Be adaptable and change

6. Be adaptable and accept that you can’t control everything

As stated, accident or events out of expectation may occur from time to time and bring a certain impact to your on-going tasks. Instead of being frustrated or disappointed with it, you should probably look into alternatives ways to resolve the issue or carry on with other tasks with similar priorities.

For example, let’s say you are working on getting information from the internet to support the sales proposal you are doing for an overseas client. However your internet connection is dead and you have no online access till the internet is back on, so rather than complaining about the incompetence of local internet providers; you can probably go on preparing for next week’s meeting with regional officers.

Adequate sleep

7. Adequate sleep

As mundane as this piece of advice may sound, insomnia is actually a very serious issue in Malaysia and the age group of people getting diagnosed with insomnia is growing younger.  All of this can be traced back to higher stress levels in society around us, and many still do not realise that their exposure to other substantial health risks is higher because of sleep disorders.

The Washington Post recently reported that Harvard’s research has shown for the average worker, insomnia results in the loss of 11.3 days of productivity each year, or the equivalent of $2,280. As a nation, that represents a total loss of $63.2 billion.

“A study last year showed that people who monitored their smartphones for business reasons after 9 p.m. were more tired and less engaged the next day at work. Others studies have unearthed a link between insomniac bosses and abusive behaviour. And many have examined the correlation between lack of sleep and medical conditions like dementia and diabetes,” the report stated.

So based on this report, it has been proven that to have better focus at work and lead a healthier life, adequate sleep is a must.

What do you think? Are there any other ways we can enhance our productivity and still enjoy a healthy work-life balance in Malaysia? Let us know in the comments!

Read More

Jangan Jadi Mangsa Skim Penipuan Kerja Dari Rumah

  • By CompareHero.my

“Kerja Mudah Dari Rumah!” “RMXXX-RMXXX Seminggu”. Anda selalu melihat iklan dengan ayat seperti ini? Rasa curiga? Jika ya, bagus. Ayat seperti ini merupakan antara yang sering digunakan oleh penipu skim kerja dari rumah, dengan menjanjikan pendapatan yang besar untuk kerja yang mudah.

Banyak lagi taktik yang digunakan untuk menarik mangsa, anda boleh lebih lanjut baca di sini.

Mengapa anda perlu ambil kisah dengan skim penipuan ini?

Pada tahun 2016, satu kaji selidik yang dibuat oleh Telenor Group menunjukkan bahawa rakyat Malaysia merupakan antara yang paling mudah terpedaya dengan skim penipuan internet di rantau ini. Dalam kaji selidik yang turut meliputi rakyat dari Singapura, India, dan Thailand, rakyat Malaysia menduduki tempat pertama dengan hamper 46% responden mengaku telah menjadi mangsa.

3 skim penipuan yang telah mengaut ramai mangsa termasuklah:

  • Skim penipuan Kerja Dari Rumah (30%)
  • Skim penipuan belian/lelongan barangan (22%)
  • Skim penipuan temujanji online (20%)

Sumber: The Star

Lebih merisaukan, 6 dari 10 mangsa melaporkan kerugian sekitar RM7,050 seorang. Dengan pertambahan pengguna internet di Malaysia, statistic ini perlu diberi perhatian. Kita menghabiskan masa hampir setap hari menggunakan internet, dan lebih banyak membeli barang dalam talian. Lantas, kita perlu sentiasa peka dengan semua jenis penipuan dan ciri-cirinya.

Apakah ciri-ciri skim penipuan kerja dari rumah?

Setelah melihat risiko kerugian yang bakal anda tanggung dari skim penipuan ini, mari kita lihat apakah ciri-ciri untuk mengenalpasti penipuan tersebut. Terdapat banyak laman-laman web yang mengiklankan kerja kosong yang sah, seperti Jobstreet.com dan MauKerja, tetapi anda perlu skeptik dengan ayat dan teknik yang digunakan dalam iklan-iklan kerja yang kelihatan mencurigakan.

Antara contoh ciri-ciri skim penipuan kerja dari rumah yang dapat dikenalpasti termasuklah:

Anda perlu membuat bayaran pendahuluan

Antara ciri-ciri yang paling jelas untuk mengenalpasti skim penipuan ini. Cara ini yang menyebabkan ramai mangsa kehilangan wang. Secara logiknya, pernahkah anda dengar syarikat yang ingin merekrut pekerja meminta mereka untuk membuat bayaran terlebih dahulu sebelum diterima bekerja?

Jika sesebuah syarikat ingin mengambil pekerja, mereka akan mengiklankan maklumat-maklumat dengan terperinci secara PERCUMA, untuk memastikan pekerja yang berkelayakan bakal diterima. Anda juga tidak perlu membayar apa-apa.

Skim-skim penipuan ini akan meminta anda untuk mendepositkan bayaran ke akaun bank mereka, sebelum maklumat pekerjaan diberi. Alasan yang diberikan biasanya ialah wang tersebut digunakan untuk mendaftarkan akaun serta perisian yang diperlukan untuk pekerjaan tersebut.

Maklumat tentang pembayaran ini biasanya tidak akan diiklankan terus (lihat gambar diatas), untuk memastikan bakal mangsa akan memohon. Biasanya, pembayaran akan diminta selepas mangsa berhubung dengan mereka

Pengajaran: JANGAN buat apa-apa bayaran jika diminta.

See what we mean? See what we mean?

Maklumat mengenai kerja terlalu sempurna

Iklan-iklan pekerjaan ini biasanya akan menggunakan frasa-frasa seperti berikut:

“Kerja di rumah atau di mana-mana sahaja!”

“Waktu kerja yang fleksibel!!!”

“Tetapkan jadual anda sendiri!!!”

“Kerja yang mudah dan ringkas!!!”

“Tiada pengalaman diperlukan!!!”

Pendapatan sehingga RM300-RM500 seminggu!!!”

Iklan-iklan ini (yang menggunakan banyak tanda seru, disamping struktur yang berterabur) akan disertakan dengan gambar-gambar seperti individu yang gembira memegang wang yang banyak, timbunan wang di atas meja, ataupun akaun bank kononnya milik salah seorang pekerja, untuk ‘memancing’ bakal mangsa.

Jika sememangnya pekerjaan ini seperti apa yang mereka katakan, mengapa ianya tidak diwar-warkan di media massa? Malah, maklumat-maklumat yang diberikan, bak kata orang “too good to be true”. Dan ia sememangnya too good to be true pun. Tidak ada pekerjaan yang sah yang beoleh menawarkan pendapatan yang tinggi dengan kerja yang amat mudah.

Pengajaran: Jangan mudah percaya dengan iklan-iklan seperti ini!

Maklumat tambahan yang diberikan kurang jelas atau lari dari topik

Untuk tujuan penyelidikan, kami telah cuba untuk menghubungi halaman-halaman yang mengiklankan jawatan kosong ini melalui Facebook Messenger.

Salah seorang admin halaman tersebut telah memaklumkan yang kami perlu menyertai latihan online sebelum mula bekerja, dan tiada bayaran akan dikenakan. Sebaik sahaja kami bertanya sama ada bayaran perlu dibuat selepas latihan tersebut, jawapan yang kami terima ialah “Adakah turan berminat untuk menyertai latihan tersebut?” Tiada jawapan jelas yang diberikan untuk soalan kami.

Admin halaman kedua pula tidak mahu menjawab pertanyaan kami, sebaliknya meminta kami menghubungi mereka melalui e-mel. Tindakan ini sebenarnya lebih bahaya, kerana terdapat risiko phishing (e-mel yang direka seakan-akan e-mel dari syarikat yang boleh dipercayai. Tetapi, ianya bakal mencuri maklumat-maklumat peribadi tanpa anda sedari. Sila padamkan segera sekiranya anda mendapati e-mel ini ada dalam akaun anda) menanti.

Para penipu ini tidak akan memberikan jawapan yang jelas untuk anda, mereke lebih gemar berdolak-dalik dan lari dari topik perbincangan.

Pengajaran: Sekiranya anda tidak mendapat jawapan yang dikehendaki, ataupun diminta memberikan maklumat melalui e-mel, hindari segera!

citibank-pl-ad

Tidak ada acara yang mudah untuk mencari wang

Tidak dinafikan, keadaan ekonomi semasa membuatkan ramai terdesak untuk mencari wang tambahan. Tetapi, banyak lagi cara sah dan halal sebagai sumber pendapatan tersebut. Jika apa yang anda perlu lakukan hanya menaip dan melipat sampul surat dan anda akan dibayar secara mingguan atau bulanan, berhati-hatilah.

Sesetengah skim ini juga meminta anda untuk mengajak ahli keluarga dan rakan-rakan, dan menawarkan komisyen jika anda Berjaya berbuat sedemikian. Inilah taktik yang biasa digunakan skim Ponzi. Anda dibayar untuk menyertai skim tersebut, dan keuntungan akan dibahagikan bersama untuk anda dan downline. Jika anda fikir ianya tidak apa-apa, sikap inilah yang akan membuatkan skim ini terus beroperasi.

Skim penipuan ini biasanya akan menyasarkan suri rumah, pelajar-pelajar, penganggur, dan mereka yang mencari wang tambahan. Biasanya, golongan ini akan sentiasa di rumah, dan amat terdesak untuk mencari wang bagi menampung kehidupan.

Pengajaran: Skim ini amat mengenali sasaran-sasaran mereka. Jika anda termasuk dalam golongan mangsa, hati-hati jika menerima tawaran kerja dari rumah.

Tips untuk mengelakkan diri dari skim penipuan

Telenor Group turut berkongsi tips untuk melindungi diri anda dari skim penipuan ini:

  • Padam e-mel yang mencurigakan.
  • Abaikan iklan-iklan kerja yang “too good to be true”.
  • Pastikan komputer anda memiliki perisian anti-malware.
  • Buat kajian mengenai skim penipuan di internet.
  • Kongsikan maklumat mengenai penipuan ini dengan rakan dan ahli keluarga untuk mengelakkan mereka tertipu.


Baca artikel-artikel ini untuk mengenali dan melindungi diri anda dari skim-skim penipuan di internet

Read More

5 Simple Steps To Investing In Stock Market

  • By CompareHero.my

Imagine you’ve just started your career in a local company after graduating with your bachelor’s degree a local university. You’re also originally from Kedah, and had to deal with many things when you first moved to Kuala Lumpur to earn a living.

After six months of working in the city, you’ve finally settled down. However you are now facing the same problem as many entry-level executives who have a starting salary ranging from RM2,300 to RM2,800 a month. Now that you’ve deducted your monthly expenses, EPF and SOCSO contributions plus emergency savings, you don’t have much left as disposable income.

Now many people believe that inflation rates today are just too fast to catch up with, considering how low annual salary increment and fixed deposit income interest rates are in the market.

MY_5SimpleStepsForStockInvestment_blog03

So what are your options? You could always start investing in stocks, and should learn more about how Bursa Market Place works here. Once you’ve done that, you’re ready to start your investment journey by following the five simple steps below:

Opening a CDS account

1. Open a Central Depository System (CDS)

CDS is a means of representing ownership and movement of securities (shares). By having a CDS account, you can have access to transfer and trade shares through an online platform.

There are two types of CDS account: direct and pledge. If you have a direct account, the dividend checks and prospectus will be mailed to your house. If you have a pledge account, the stockbroker will receive the dividend payout and prospectus on your behalf and he or she will bank it to your account.

Banking stockbrokers will normally require you to open a pledge account. You will also get a monthly CDS account statement. If there is no activity, you will still get the statement in June and December. You can open a CDS account by calling an investment broker or by visiting their branches. You will need:

  • Photocopies of your NRIC (identity card)
  • RM10 fee

After registration, you will receive the account’s documentation by mail.

2. Open a Trading Account

When opening a CDS account, the stockbrokers helping you may ask if you want to open a trading account depending on the firms you are engaging.  To open a trading account, you will need to fill in and provide the following documents:

  • Income statement
  • Trading account form

Note: The stockbroker will then check your credit status at CTOS (Credit Tip-off Service) and stockbrokers’ defaulters’ list – in order to qualify you and set your trading limit.

Investing in stocks is easy through Bursa Market Place.

3. Evaluate and decide the stocks you want to invest in

There are several things you need to determine before buying your first stock. Determine what type of industry and subsector you are comfortable investing in. There are over 500 listed companies in Malaysia and it can be overwhelming to make your first choice in stock investments.

Do as much research as you can through newspapers, forums and ask your peers, colleagues or experts for their feedback and views. After you have a basic clear view of the sectors’ outlook, you can proceed to evaluate the listed companies that are involved in the sector you wish to invest in.

For instance, Inari Emerton Bhd which is in the semiconductor sector, Sasbadi Bhd in the education sector or Gadang Holdings Bhd in the construction sector are among those which project optimistic outlook in terms of financial performance which could translate into their share price movement.

Other factors you need to consider include the risk appetite of your investment portfolio and also the amount of capital you have to invest in stocks. It is important to understand your goals and financial capability so that you can set up a proper investment plan for yourself.

But evaluating your choice of stock to invest is much easier now with Bursa Market Place’s  Alpha Factor Ratings.

Bursa Market Place and its features

4. Start buying and selling shares

Before you start buying shares, you need to make sure your trading account has credit. You can do that through an online transfer payment via your broker or internal bank transfer.

After deciding the first stock you would like to invest in, key in your order at the online system provided by your stockbrokers, or call your remisier to make the order. If the buying order you request matches a selling order (in terms of pricing), you will receive confirmation of the trade. The stockbroking firm will then send out contract notes to you specifying details of the transaction.

Note: To encourage online trading, buying shares through online platforms is much cheaper than engaging a remisier to trade whereby the fees may depend on each firm.

Fees for each transaction (online):

  • Brokerage fees – maximum 0.7% of the value of total shares traded, normal practise is 0.6%
  • Clearing fees – 0.03% of contract value subject to cap of RM200
  • Stamp duty – RM1 for every RM1,000 worth of value

It is also important for you to know that when you buy shares of a company, your CDS account will be credited with the shares at 9am on T+3 days (T=transaction date). The three days only include working days. Your payment must be made on 12.30pm that day. If not, your share will be sold at a contra loss or contra gain mandatorily.

5. Monitor and review your investment portfolio

Shares are highly sensitive to economic, political and several factors depending on the business nature of the company you invest in. So it is important for you to keep track of the daily news and announcement by the companies to ensure you are not left behind to review your investments when it is necessary.

With Bursa Market Place, You can now keep track of all corporate announcements, share price movement, research reports by investment firms and banks on Bursa Market Place. There are also several tools to help you make other investment decision.

You can also compare the best financial products on CompareHero.my too!

Related: How Millennials Can Start Investing From As Low As RM100

Note: This article was written in collaboration with Bursa Market Place.

Disclaimer: Neither CompareHero.my nor the content on it is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. The content on CompareHero.my is for general information purposes only and is not intended to be personalised investment advice or a solicitation for the purchase or sale of securities.

Compargo Malaysia Sdn. Bhd. and/or its affiliates cannot and do not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. CompareHero.my may receive compensation from the brands or services mentioned on this website.

Read More