#PropertyHacks: Buying Your First Home In Malaysia? Here’s What You Should Do After Buying A House (Part 3)
- By CompareHero.my
- January 7, 2021
What should you do after a successful house purchase? Well, moving into a new home means you will need to create another checklist. Read this article to find out the seven things you must do after buying a house.
Congratulations on securing your first house! That should be the end of the long buying process, right?
Not exactly – though you have signed the papers, got the keys to your new house and secured the movers, the process of homeownership does not end there. Similar to buying a car, you will also need to think about customising the house to fit your needs and specifications, and be prepared to face new challenges as a new homeowner.
Cost-wise, there is more to buying a house than just preparing the down payment and monthly mortgage payments; there is also the cost of maintenance, bills and renovations.
Here are some tips on what to do after buying a house to help you navigate the journey of being a first-time homeowner.
Contents
- 1. Factor in other expenses such as utility and maintenance costs when budgeting
- 2. Save yourself from future headaches by creating a maintenance plan
- 3. Share your new address to relevant people!
- 4. Renovate, repaint and redecorate your house!
- 5. Check the security and safety of your new home
- 6. Hello friends! Meet your new neighbours
- 7. Continue saving for emergencies and retirement
- Buying a house is a lengthy process but it’s worth it
1. Factor in other expenses such as utility and maintenance costs when budgeting
The cost of homeownership doesn’t end with just your down payment and monthly mortgage.
When budgeting, include unexpected household expenses such as broken pipes or fan ceilings, plumbing issues, cracked tiles and old roofs, as well as ongoing maintenance costs like wiring updates, gutter cleaning, lawn care or repainting walls.
The cost price will typically vary depending on the neighbourhood, location, frequency and type of property, so if you need an estimation, we recommend working with a trusted home inspector to get a quotation, especially for first-year expenses which may be more expensive than usual.
When it comes to budgeting your maintenance cost, we read that the 1% rule is a good reference point. It essentially means committing at least 1% of your home’s value in maintenance costs every year.
If you need plumbers, locksmiths, cleaners, electricians, handyman and aircon services, try checking out LocalServices, a platform dedicated to providing adequate services to individuals, households and companies within Malaysia.
For a clearer sense of how to budget and manage your utilities, research the typical utility cost in your area or ask someone in the neighbourhood. The latter may not be as easy but it would provide a more accurate estimate.
Set aside a certain amount of money for your savings and emergency fund to ensure that you never get caught off-guard when the different costs arise.
Case in point: do not underestimate the obvious carrying costs of a home and the subtle aesthetic or lifestyle costs of a house (usually associated with renovating and redecorating). Instead, budget wisely to avoid surprises.
Related: #PropertyHacks: Buying Your First Home In Malaysia – The Pre-purchase Stage (Part 1)
2. Save yourself from future headaches by creating a maintenance plan
Experts recommend servicing your home air conditioning at least once a year.
We’ll be honest, poorly-maintained houses have the highest tendency to be money pits – they drain your finances, cost you more on the long-term, with little added value.
Performing annual (or even monthly) maintenance of your house can help decrease your overall repair costs because problems can still be fixed when they are still small and manageable. But to pull it off, you need to dedicate some money, time and commitment to do it.
In fact, by regularly maintaining your house, you are indirectly protecting mother nature and promoting sustainability. If you took the time to repair the three leaky faucets at home, you could be saving two litres of water per day and 360 litres in six months, according to this drip calculator we found online.
Other instances of maintenance duties:
Refrigerator: Simple maintenance can go a long way for the longevity of your refrigerator. We found out that it is advisable to clear your ice bins monthly and clean the condenser coils and inspect the door gasket, every three to four months. If necessary, replace the water filter and clean the drain hole every six months.
Air conditioner: In a tropical country such as Malaysia, air conditioners help keep the temperature cool during the warm season. According to Daikin, a popular air conditioning manufacturer in Malaysia, air conditioners must be regularly maintained to be able to function properly.
Gutters: Messy and dirty gutters are not just an eyesore – they can also lead to serious damages like clogging, mould and ruining your house’s foundation. We read that it is advisable to clean your gutters at least once a year and more frequently if there are trees near your property.
Lastly, remember to set up your utilities, including water, electric, Internet, and television once you have officially moved in. We recommend setting up auto-billing on utilities to avoid missing any payments.
Maintaining your house is not an easy process because it takes a lot of effort and focus. But it won’t be a dreadful routine if you plan it accordingly and are mindful of your expenses.
Related: Costs Everyone Forgets to Budget For
Now that you have relocated to a new house and neighbourhood, it would be useful, and wise, to update relevant parties such as family and friends on your movement so they are able to find you.
Though we know it is primarily for the holiday cards and gifts, updating loved ones on your whereabouts is important for your own safety. It lets them know where you are in case you need emergency assistance or attention.
Other relevant parties to update include your creditors and your employer, so they can update their records.
4. Renovate, repaint and redecorate your house!
You could hire a professional contractor to repaint your house. Or if you want to clock in more family-time, you could get everyone together for a painting session.
Renovation is not necessary for every house, though many do require some overhaul. It all goes down to the type of house you buy (brand new or sub-sale), your budget, and your own preference.
Though often perceived as a lifestyle or aesthetic choice, renovations can be considered a necessity if it is done for safety purposes. For example, if you noticed your old walls might have the potential to collapse, then perhaps consider redoing it.
Finally, before moving your old furniture into your new home, we think it is easier to first get any renovation or repainting work done in an empty house. It’s also better to get some cleaning done beforehand.
5. Check the security and safety of your new home
Before moving into your new home, make sure to change all locks, keys, and security codes to your new house. This is to avoid the previous homeowners, or their family and friends, from having access to your new house. We recommend installing safety grills for your front door or windows for extra security.
Once you have secured your new home, check if your new house is safe to reside in. Ensure the house is free of physical defects that could potentially hurt you.
After that, invest in certain safety equipment like fire extinguishers and emergency kits, for when you accidentally cut yourself. Put it in a place that you’ll remember and check its expiry every six months.
Typically emergency kits include items like:
- Non-perishable food (three-day supply)
- A good supply of 20-litre water
- A first aid kit
- Flashlight
- Batteries
- Prescription and non-prescription medications
- Cash, preferably in small bills
- A manual can opener
- Matches
- Fire extinguisher
- Feminine supplies
6. Hello friends! Meet your new neighbours
Once you have settled down in your new house, the next step is to pay your neighbours a visit.
Even if you are not a social butterfly, your neighbours could be a resource in case of any emergencies. They could also be good reference points and lunch or dinner buddies.
7. Continue saving for emergencies and retirement
A property is an expensive asset, but that doesn’t mean you should stop saving.
Now that you’ve secured your dream home, it doesn’t mean you should stop building up your savings.
Though a property is an asset that will typically always appreciate over time, as an investment, the property isn’t liquid. That means cash will not be immediately available if you need to cash out, and even worse, you will need to find a buyer before you can cash out. In contrast, other investments like stocks or unit trusts are highly liquid.
Always try to put away at least 1% of your paycheck – the higher the better – into your savings and emergency funds, the latter would be helpful for you if problems arise in the future. Even better if you can allocate some into your retirement savings accounts as well.
Buying a house is a lengthy process but it’s worth it
If you stuck all the way from part 1, then you now understand how lengthy of a process it can be to buy a house. We hope this three-piece guide could help you fill any gaps you may have or experience while property hunting.
We also hope you found this piece educational! Remember, the more you understand a process, the less stressful and easier it will be to navigate it in the future. Good luck!
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How To Survive A Flood And Financially Recover Quickly
- By CompareHero.my
- January 6, 2021
With parts of Malaysia currently facing severe flooding, knowing what to do before, during and after the disaster could save your life and help you financially recover quickly. Here’s a quick step-by-step guide and tips on how to survive the flood season.
Massive floods have hit Kelantan, Terengganu, Pahang, Perak, Selangor and Johor – with almost 20,000 Malaysians evacuated to temporary relief centres (PPS) so far, according to a recent report by Astro Awani.
The Malaysian Meteorological Department (MetMalaysia) has also issued a weather warning, with more heavy rain expected in parts of Pahang, Johor, Kelantan, Terengganu and Sabah. MetMalaysia has pointed out that continuous downpour may cause flooding in low-lying and flood-prone areas.
Throughout the years, almost every state in Malaysia has experienced some form of flooding – from traffic jam-inducing flash floods in urban areas like Penang and Johor Bahru to devastating weeks-long floods in the east coast of the peninsular and East Malaysia.
Even our capital city, Kuala Lumpur, has been struck by floods as recently as November last year.
So if you live in a location that is prone to flooding, you should make the necessary preparations to ensure the safety of your family, as well as minimise your financial losses from potential property and car damages.
Preparations for the monsoon season
Floods have a higher tendency of happening during the annual monsoon season in Malaysia (November – March) and sometimes, it can strike suddenly without any warning or indication. During a flood in Kuala Lumpur last September, The New Straits Times reported that sections of Jalan Dang Wangi and Jalan Tun H.S Lee were submerged in water after only a few hours of heavy rain.
Thus, when you are facing an occasionally unpredictable natural disaster like this, it’s best to stay prepared at all times.
You ought to add flood coverage to your home and car insurance policies, especially if you reside in a flood-prone area.
1. Add flood coverage to your home and car insurance policies
You should add flood coverage to your home and car insurance policies, especially if you reside in a flood-prone area. The coverage will ease your financial burdens in the event where your home or car is damaged by flood water.
According to The Star, repairing a flood-damaged car can cost up to RM50,000. Meanwhile, your home repairs might cost even more than that. Imagine having to replace your ruined doors, windows, sofa, tables, TV, PC, kitchen cabinets, wardrobes, beds, carpets as well as other appliances and furniture pieces. You will also need to fork out more money to clean and disinfect your home.
To purchase a home insurance policy that offers coverage against flood, you can seek out insurance providers such as AmAssurance, AIG and Allianz.
As for your car insurance, you can choose to add coverage against natural disasters like floods, typhoons and landslides to your policy. From what we know, the annual premium for this add-on is 0.5% of the total sum insured. So if you have insured your car for RM50,000, you’ll be paying an additional RM250 for flood coverage.
Considering how much money you’d have to spend if flood water damages your car engine, transmission or cooling system, paying that extra few hundred ringgit yearly seems like a good deal.
Related: #WhatIWishIKnew – The Ultimate Guide On How To File An Auto Insurance Claim In Malaysia
2. Stay updated with the latest weather and flood forecasts
Malaysian news sites regularly publish the latest bad weather and flood alerts by government agencies like MetMalaysia and the Department of Irrigation and Drainage. So you should follow these news portals on Twitter and other social platforms. An early warning can give you more time to get your family to safety, as well as protect your home, car and belongings.
Before a flood
As soon as you hear about an impending flood in your area, you should pack up your important belongings and get ready to seek safe shelter along with your family members.
1. Prepare an emergency kit
You should always keep a waterproof bag at home. Use the bag to store essential items such as:
- a fully charged mobile phone and power banks
- face masks
- hand sanitisers
- drinking water
- essential medicines
- first aid supplies
- flashlights with extra batteries
- personal documentation (IC, passports, birth certificates, marriage certificate, driving licences, etc.)
- umbrellas/raincoats
- clothes
2. Move your belongings upstairs; switch off electricity sources
Move your electronics, furniture and valuable items to a higher floor if possible. If you live in a single-storey house, you can place your belongings on tables and chairs (this way, only a few pieces of furniture will suffer water damage).
If you are heading to a relief centre, do turn off all the electricity sources in your house. According to Tenaga Nasional Berhad (TNB), in order to protect your home from electrical mishaps, you should remember to switch off the main power outlet and unplug all electrical appliances before an evacuation.
During a flood
Since November 2020, the Malaysian Civil Defence Force (APM) has been gearing up to face potential floods throughout the country. The APM, along with its fleet of over 900 boats and numerous lorries, have teamed up with the Royal Malaysia Police (PDRM) and the Malaysian Fire and Rescue Department (JBPM) to assist flood victims and evacuate them to temporary relief centres (PPS). They are the unsung heroes of the recent floods.
So don’t worry, you’re not the only one who has made preparations for the monsoon season. Just remember to keep calm as help is on the way!
The Malaysian Fire and Rescue Department (JBPM) have deployed teams in affected areas to evacuate flood victims to temporary relief centres.
When your area has begun to flood, you should call your neighbourhood police station or fire brigade to ask for assistance immediately. (It would be much easier and safer to evacuate people while the flood waters are still at a low level, as the relevant authorities can use motor vehicles to transport them.)
If you don’t have these contact numbers stored in your phone, just do a quick Google search. You can also dial 999 (for the police and ambulance), 994 (fire and rescue department) and 112 (a common emergency phone number that can be dialed from your mobile).
2. Avoid driving and walking through flooded areas
There have been several cases of motorcyclists, motorists and pedestrians being swept away by strong currents during the flood season. The police have also stated that we should not be driving on flooded roads. So it’s best to be careful and stay out of these areas.
3. Follow COVID-19 SOPs at relief centres
Don’t forget that the COVID-19 pandemic is still raging throughout the country. Thus, when you arrive at a temporary relief centre (PPS), remember to practise social distancing, wear a face mask and sanitise your hands regularly.
Besides that, the government has announced that all evacuees will be tested for COVID-19. This will minimise the risk of such infections at relief centres.
Related: Travel Insurance: What Happens When Natural Disaster Strikes?
After a flood
Once the flood waters in your area have receded, you will be allowed to return home where a new set of challenges await. Let’s soldier on and rebuild!
1. Hire an electrician to check your home electrical wiring
Don’t rush back into your house. The flood water could have damaged your home’s electrical outlets. That’s why you should have an electrician check all your wiring before turning on the power.
2. Call 999 if there is wildlife in your house
There could also be wild animals that might have ended up in your residence during the flood. According to this article by The Rakyat Post, if you need assistance in removing snakes that have slithered into your home, you can call 999 and seek help from emergency services such as the Malaysian Civil Defence Force (APM). We are pretty sure they will assist you in removing other types of wildlife as well.
Share photos of damaged assets with your insurance provider for claim purposes.
3. Take photos of your damaged assets as evidence
To ensure a smooth and speedy claims approval, Allianz recommends that customers should keep records of all the damages and “take photos wherever, whenever possible”. So if you have insured your home and its contents against loss caused by flood, remember to take clear, detailed pictures of your water-damaged home and belongings.
If you have added flood coverage in your car insurance policy, you ought to take numerous photos of your damaged vehicle as well. Snap pictures of your car exterior, interior, engine and boot.
4. File an insurance claim for flood damage
Once you have sufficient evidence of the flood-related damages, contact your insurance agent as soon as possible. Remember to share the photos you have taken with your insurance provider for claim purposes.
Additionally, some insurance companies have also taken the initiative to make the claims process easier for policyholders who have been affected by floods.
For instance, Allianz’s Claims Caravan has been deployed to flood-prone areas in Kelantan, Pahang, Johor, Malacca, Negeri Sembilan, Selangor and Kuala Lumpur. According to Allianz, its customers will be able to fill in a claim form right away at the caravan. An adjuster will then be assigned to survey a customers’ property within 24 hours.
Final thoughts
As you can see, preparation is key to surviving and financially recovering from a flood. So you should stick to a well-thought-out plan this wet season. Keep your chin up, stay alert and stay safe!
Related: #WhatIWishIKnew – 8 Common Mistakes People Make When Buying Car Insurance
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Mild Inflation In 2022: But What Is It And How Can You Cope With Inflation?
- By CompareHero.my
- January 5, 2021
Given the impact of the COVID-19 pandemic on the global economy, it is expected that inflation will also be affected in one way or another. Read this article to find out the best ways to cope with inflation in 2021.
Updated and edited by Anis Shakirah Mohd Muslimin.
This article was first published in 2015 and has been edited and updated for accuracy and clarity.
Contents
Though 2021 may have started with a disastrous flood – affecting thousands of Malaysians and their families in several states across Malaysia – the country can expect to at least escape deflation in 2021 and see increased price pressures in the following months, according to experts from Kenanga Research.
According to the research house’s forecast, inflation is expected to turnaround but remain relatively benign at 1.7% this year, with the expectation of economic growth recovery.
“The continued pandemic-related restrictions will likely sustain deflationary pressure in the coming months… the recovery in global crude oil prices is also expected to contribute to the uptrend. With the expectation of economic growth recovery, we forecast the rate of inflation to turnaround but remain relatively benign at 1.7% in 2021,” they said in a statement. In 2019, Malaysia’s headline inflation was registered at 0.7%.
Additionally, with the onset of positive vaccine sentiment and improving economic conditions, Kenanga Research said, it sees a higher probability that the Bank Negara Malaysia (BNM) will keep the benchmark overnight policy rate (OPR) unchanged at 1.75% at the next Monetary Policy Committee meeting on January 20, 2021. “Nevertheless, risks remain tilted to the downside due to the continued surge in COVID-19 cases locally.”
Another research house CSG-CIMB Research, concurred with the findings by Kenanga Research, adding further that policymakers at BNM are likely to remain cautious due to the uneven economic recovery, retaining the OPR at 1.75% throughout 2021. The research house forecasts headline inflation of 1.6% in 2021.
What is inflation?
Any financial advisor will tell you to always invest above the inflation rate. But what does that mean?
According to the International Monetary Fund (IMF), inflation is the rate of increase in prices over a given period of time. It is typically a broad measure of prices such as the increase in the cost of living in a country but is also used to calculate more specific goods such as food, or for services, such as a haircut.
In more layman terms, it is often described this way: as time goes on and inflation increases, a person’s buying power becomes less with the same amount of money.
Say a bowl of Nasi Lemak costs you RM5 in 2005; that same piece of Nasi Lemak – the exact same serving and features will cost you RM10 in 2020 – or double the original price, despite offering the same value.
Is inflation problematic?
Yes! It’s the bane of every businessman and salary earner worldwide, the root cause of rising costs and other financial woes.
While inflation is a subject that remains highly misunderstood among laypeople, it can have a very real effect on how you cope with your day-to-day expenses. Without knowing the effects of inflation, a person may not be able to better strategise or manage their finances for the long-term, and end up losing more than they should on the short-term.
Is it possible to stop inflation? Maybe! It’s a concept that is still under immense research and debate, often popping up in financial and economical discourse, but there is still no concrete answer to it.
So though we are unable to stop inflation, that doesn’t make you powerless against its effects. Understand how it affects your purchasing power and you can start building effective strategies to protect your finances.
Here are five ways to financially prepare for rising prices
Here are just a few ways you can prepare yourself for the barrage of higher prices brought about by inflation.
1. Learn the art of investing
Investments are among the best ways to insulate your life savings from the effects of inflation.
By taking the plunge and putting your money in a diverse portfolio of stocks and bonds, you can grow your personal worth more quickly than if your money was idling in your bank account.
Start paying more attention to financial news and trends to uncover where smart investments lie.
The earlier you start investing, the better because you have a longer time horizon (aka: duration to invest), and because the returns from investing generally magnify over time. There’s a saying that time is an investor’s best friend, and it really is.
Of course, we are not talking about beating or timing the market, but growing together with it. With enough time, resources and skills, logically, your wealth would grow exponentially. If you are not sure where to start investing, check out this piece we did on dummy-proof ways to start investing your money.
Related: 5 Simple Steps to Start Investing in The Stock Market
It wouldn’t help to check our website if you are on the lookout for personal loans.
2. Look for fixed rates
When it comes to inflation, time tends to be your biggest enemy. As prices grow across the board, so too do the regular dues and fees that come with most transactions.
A fixed interest rate prevents your regular payments from ballooning along with inflation by keeping your interest proportional to your actual savings. Whether it’s on a personal loan, a savings account, or a future investment, you must find a deal that guarantees fixed rates for its duration.
If you are on the lookout for a personal loan, we recommend checking out personal loans on our website for a more comprehensive look at the different options available in the market.
Related: Balance Transfers Vs Debt Consolidation Loan: Which Is Better In Helping You Clear Your Debt?
Buying a property is a huge financial commitment, so make sure you are financially-ready before taking up a house loan.
3. Buy a home
And by “home” we mean an actual house built on a plot of land in your name. Owning a property means that you will have a concrete asset you can pass down to your descendants or use for a different purpose later down the line.
If you can’t afford to buy a property with cash (and typically most of us won’t be able to), you can shop around for a home loan at terms that agree with your current budget.
Besides gold and Bitcoin, real estate investments are often seen as inflation hedge investments as well because they are assets that are expected to increase or maintain value over a period of time. Real estate is a great tool to fight inflation because of its appreciating value, possibility to earn increasing income in the form of rents and its depreciating debt.
Related: Should You Buy A New Property After COVID-19? Here’s What The Experts Say
4. Keep your options open
As the motto of the Boy Scouts goes, be prepared. Always have a Plan B (or several) in the wings when things take a turn for the worse.
Budget your income wisely and build an emergency fund. Look into inflation-proof assets like real estate, commodities, and income sources with steady cash flow. Maintain a clean lifestyle and find a good health insurance plan to counter the rising costs of medical care.
If you can’t beat inflation, at least you are prepared to face it.
Related: Money Management: 3 Ways to Control Your Finances
5. Live thriftily
As inflation often has an immediate effect on prices, one no-brainer solution you can try is minimising your spending. Keep frivolous spending to a minimum.
Save on gas by carpooling, taking public transport, or even working from home. Be more strategic about how you use your credit card, keeping an eye out for low APRs, exclusive discounts, and helpful rewards programs.
Related: Use These 7 Cash Tricks to Grow Your Savings
Verdict: You can’t prevent inflation (yet) but you can improve on how you manage it
While some of these tips are simple enough for you to incorporate into your regular spending habits, others may require greater involvement in the long term.
The good news is that financial literacy is the gift that keeps on giving, and can better prepare consumers for any future upheavals in the financial market. Get a head start on your finances today, and save yourself from a world of trouble tomorrow.
For more useful financial tips, keep exploring our blog for all kinds of timely money-saving advice.
Use our free comparison tool on our site to find the best personal loan that suits your needs, the best credit card for cashback, rewards, air miles or best deals.
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Online Love Scams: Here’s How To Outsmart A Romance Scammer!
- By CompareHero.my
- January 4, 2021
Many Malaysians have fallen for online love scams during the pandemic, causing them to lose thousands of ringgit or more. If you’re one of the victims (or want to avoid becoming one), read below to find out how to spot and avoid romance scammers.
Contents
- Why are so many people falling for love scams?
- Three ways to spot a romance scammer
- How romance scammers persuade people to part with their money
- Are dating apps taking precautionary measures to protect users?
- How to save yourself and your loved ones from getting scammed
- What to do if you are a victim?
- Enjoying online dating while staying safe
We shake our heads in disbelief when people lose money in online love scams. “Wah, it was so obvious! How can they fall for that?” That’s what we tell ourselves, confident that we’ll never become a victim. Well, don’t be too sure about that. Malaysians are still losing money to love scams as con artists target lonely people living in pandemic-related isolation.
Malaysia recorded 481 cases involving love scams during the period between March 18 and June 30 last year. According to Deputy Home Minister Datuk Seri Ismail Mohamed Said in a The Malaysian Reserve report, these cases involved losses amounting to RM18.1 million.
Along with e-commerce fraud, Macau scams, non-existent loan schemes and SMS frauds, love scams remain among the most common financial scams in Malaysia.
In August 2020, Free Malaysia Today reported that a businessman told police he lost RM295,950 due to an online love scam involving his 14-year-old son. The victim’s son had allegedly befriended a girl via a social site, who then persuaded the victim’s son to lend her money.
Meanwhile, in October 2020, The New Straits Times reported that a woman in her 50s was duped out of RM480,000 by a man she had befriended on social media.
Despite police crackdowns and news reports that highlight the danger of online romance scams, we still hear about cases like these on a regular basis.
Why are so many people falling for love scams?
Online dating apps such as Match, OkCupid and Bumble have grown in popularity during the COVID-19 pandemic as singles embrace digital dating in the new normal.
The ASEAN Post reported that between September and October 2020, dating apps in the U.S. experienced a surge in usage with Match growing by 21%, while OkCupid grew 21% and Bumble expanded by 16%.
The same report also revealed that similar increases have been recorded in other parts of the world. Chinese dating app Tantan stated that its average usage in February 2020 increased by over 30% compared with pre-pandemic usage.
While these apps are suitable platforms to meet new people, users should take certain precautions while socialising.
Identity security counsellor Suli Malet-Warden, who works with IDCARE (Australia and New Zealand’s national identity & cyber support service), told ABC News (Australia) that scammers hook their victims by using the complex language of love to connect with them.
“The language is really important. When we speak to victims they say they’ve been connected, prolifically in the initial stages, using extremely validating language and we are all suckers for it,” Malet-Warden said.
“Being told how much they are loved, how wonderful they are… they use that sort of validating language and the prolific nature of it, regular text messages not just through the day, but through the night. The victim is then expecting those validating messages to come through. They’re incredibly supportive, they’re appealing, they’re flattering, they’re soothing,” the identity security counsellor added.
In the same article, Malet-Warden also pointed out that the process results in our brains releasing certain chemicals such as dopamine – which causes euphoric feelings, as well as rising oxytocin levels that increases our level of trust.
Related: 10 simple ways to avoid getting scammed (and what to do if you’re a victim)
Three ways to spot a romance scammer
Besides the extremely supportive and flattering messages, here are other surefire ways to spot a romance scammer.
1. Your date professes his love quickly
Alarm bells should be ringing in your head when a person says that he or she is in love with you within a short period of time. It’s a strategy scammers utilise to persuade you to share your personal information and indirectly, the answers to security questions that you use to secure important accounts online.
2. Your date is working overseas
The person might claim to be a foreigner with a thriving career outside Malaysia. Your online romantic interest could be “staying” in the U.S. or Europe. The other “professions” that romance scammers have been known to use are:
Despite the long distance, scammers regularly talk about how they can’t wait to meet you. They will also mention that they are making arrangements to see you as soon international travel restrictions are lifted.
There have been news reports of scammers posing as soldiers.
They mostly woo you via text. Try calling and your call will usually go to voicemail. They will later explain that they are currently travelling on a plane for a business trip, or they could be in the middle of an important meeting at work. Scammers are experts in making up excuses.
They might also claim that the internet coverage in their location is terrible. Thus, they are unable to speak to you via video call. Brace yourself for even more excuses.
Related: Online Scams in Malaysia You Need To Know About
How romance scammers persuade people to part with their money
Love scammers usually come up with creative, persuasive ways and false promises to attain your financial details. If you encounter any of these storylines while talking to people you have never met, it’s likely that they could be scamming you.
Based on various news reports about love scams, your online “boyfriend” might say that he is sending a huge amount of money to you. Pretty soon, you will be able to use his funds to buy a house and then happily settle down together when he finally comes to Malaysia.
Later, another individual who claims to be an officer of Bank Negara Malaysia (BNM) or a money transfer agency will contact you. This person will ask you to pay taxes and custom clearance fees before your boyfriend’s money could be released to you.
Other scenarios that should rouse your suspicions include:
“I have sent you a precious, expensive gift but it was ‘detained’ at the customs department.”
“I need a loan to buy flight tickets so I can visit you.”
“I need some startup money for a business venture in Malaysia.”
Love scammers usually come up with false promises to attain your financial details.
Are dating apps taking precautionary measures to protect users?
Meeting your potential Mister or Miss Right is exciting, but it’s best to remain cautious as well in the world of online dating. According to Tinder’s safety and policy section, they have a fraud team that conducts manual reviews of suspicious profiles, activities and user-generated reports.
The popular dating app also stated that users should not send money to someone they haven’t met in person. Additionally, they have also provided a self-reporting tool so users can report any individual who has requested for their financial information.
How to save yourself and your loved ones from getting scammed
A con artist or fraud syndicate will target anyone, regardless of their age, ethnicity, religion or background. Here are some valuable tips to prevent you as well as your family members and friends from becoming victims of fraud:
- Scammers often pretend to be authority figures like government and bank officials. So you should NEVER share your personal information or send money to strangers – be it via phone text, email or phone call.
- Conduct thorough research on who you are dealing with, the individuals that make up the organisation as well as its services and products.
- Check with Bank Negara Malaysia (BNM) and the Securities Commission (SC) if you need to verify information on an individual or organisation.
- Scammers prefer that you make your payments through non-secure methods such as money cheques and cryptocurrency like Bitcoin. They could also request that you use wire, bank or international fund transfers. These non-secure methods are tough to track and will make it difficult for you to recover your money.
What to do if you are a victim?
According to BNM, you should follow these steps if you have been scammed:
- Lodge a police report
- Then report to relevant enforcement agencies
- Keep all records and documentations – including crucial details of the persons/organisations involved: name, age, title, agency
For more information, you can directly contact the two BNM centres below:
BNMTELELINK (Call Centre)
Tel.: 1-300-88-5465 (1-300-88-LINK)
Fax: 03-2174 1515
SMS to 15888: BNM TANYA [your report / query]
Email: bnmtelelink@bnm.gov.my
Operating Hours: 9.00 a.m. – 5.00 p.m. (Monday – Friday)
BNMLINK (Walk-in Centre)
Ground Floor, D Block,
Bank Negara Malaysia,
Jalan Dato’ Onn
50480 Kuala Lumpur
Operating Hours: 9.00 a.m. – 5.00 p.m. (Monday – Friday)
Enjoying online dating while staying safe
Despite the rising number of fraud cases involving love scams, online dating apps are still great platforms to connect with new people as long as you take the necessary precautionary measures. In fact, there are some happily married couples today who met each other online.
We leave you with some happily-ever-after stories by SAYS and World of Buzz about couples who found true love on dating apps.
Related: 7 Types Of Shocking COVID-19 Scams All Malaysians Need To Be Aware Of
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Vacation During COVID-19: Should You Take Advantage Of These Jaw-Dropping Local Hotel Deals Now?
- By CompareHero.my
- December 31, 2020
At this time last year, Malaysians were clearing their annual leave and enjoying well-earned vacations. Today, most of us remain at home due to the COVID-19 pandemic. However, with the reopening of interstate travel on December 7, some Malaysians have taken advantage of the cheaper hotel rates to enjoy a local getaway. Should you join them and snag one of the best hotel deals ever?
In a recent article by The Straits Times, the Malaysian Association of Hotels (MAH) revealed that hotel bookings have risen over the Christmas and New Year period. This organisation represents more than 900 hotels nationwide.
The same article also highlighted that many hotels are offering promotions – with discounts of up to 70%, as well as optimistic reports about high occupancy rates at luxury hotels such as The Datai Langkawi resort and The Majestic Hotel Kuala Lumpur.
Even some airlines have increased the number of daily flights around Peninsular Malaysia. According to Malay Mail, AirAsia has recorded a surge in domestic flight bookings after the reopening of interstate travel.
Based on these updates, it seems like more Malaysians have started travelling again despite the sizeable number of COVID-19 cases recorded daily.
Contents
Taking a short, budget-friendly vacation (or staycation)
After a year filled with pandemic-related economic uncertainties and rising unemployment, we could all use a breather. Wouldn’t it be nice if we can get away from it all and relax at a sunny beach or lush national park?
It doesn’t have to be a long, expensive holiday. We just need a short, affordable vacation (or staycation) to recharge our batteries.
Speaking of affordability, many hotels and resorts are currently offering promotions and discounts in an effort to increase their occupancy rates.
So how “jaw-dropping” are these hotel deals? Are they enticing enough to make us consider taking a trip in the current climate?
Hotel prices have gone down
Search online for local hotel room bargains and you will be pleasantly surprised. Even five-star hotels are offering discounted rooms that go beyond 70% of the regular price!
Best of all, these places offer amenities such as body thermometers, hand sanitisers and free face masks.
1. G Hotel Gurney, Penang
When CompareHero logged on to online travel platform Agoda on December 30, we found a 72% discount deal for the five-star G Hotel Gurney in Penang.
With the trip duration set from December 31, 2020 to January 3, 2021 for two adults, Agoda members can book a room at the hotel for as low as RM509 per night, while non-members will have to fork out at least RM566.
This is a huge price drop from the hotel’s standard price of at least RM2,000 per night. So even for last-minute bookings like this, you can expect a significant discount on room rates.
(Please take note that these deals will most likely change daily and vary according to the duration of your stay.)
Agoda users were able to enjoy a 72% discount for G Hotel Gurney rooms during its promotion on December 30. (Image source: Agoda)
What else is jaw-dropping over there besides the hotel room price? In addition to Penang’s famous street food eateries, you can enjoy a serene escapade at the Batu Ferringhi beach, Penang National Park and Penang Hill.
2. Symphony Suite, Cameron Highlands
Why stay at a hotel room when you can book an entire apartment instead? Agoda was offering a 65% discount for a Symphony Suite @ Cameron Highlands apartment during its December 30 promotion.
With the trip duration set from December 31, 2020 to January 3, 2021, a family of two adults and two kids can enjoy a holiday here for as low as RM439 per night, instead of paying the regular price of RM1,239 per night.
Symphony Suite @ Cameron Highlands offers a family holiday for as low as RM439 a night. (Image source: Agoda)
What else is jaw-dropping over there besides the price? Amid the cool air, you will find joy and tranquility at the tea plantations, strawberry farms and forested hills of Cameron Highlands.
3. The Westin Langkawi Resort & Spa
The Westin Langkawi Resort & Spa is currently offering a two-night stay at its Superior Room for RM960. This package, which is valid until April 30, 2021, also comes with a complimentary dinner for two guests and two 50% discount vouchers at the Heavenly Spa By Westin.
After braving through the ups and downs of 2020 together, you can start the new year by treating your loved one to a romantic island getaway here. This five-star resort, located on the sandy beaches of Langkawi, has everything from chic, comfortable rooms to luxurious amenities.
One of its main attractions is the Heavenly Spa By Westin. If you are looking to relax and de-stress amid tranquil surroundings, this beachside spa is worth checking out. Pamper yourself with therapeutic anti-aging facials, body exfoliations, foot and bathing rituals, as well as Malay, Ayurveda, Turkish, Swedish and Indonesian massages.
With the discount vouchers that are included in your package, you can enjoy all these luxurious pampering at half price.
Enjoy a romantic two-night stay with your special someone at The Westin Langkawi Resort & Spa for RM960. (Image source: The Westin Langkawi Resort & Spa)
What else is jaw-dropping over there besides the hotel room price? Langkawi is a duty-free shopping paradise! You will be able to purchase premium chocolates, liquor, tobacco and perfumes at lower prices. There are also other attractions in Langkawi such as the Pulau Payar Marine Park and Underwater World.
These are just some of the amazing hotel deals that are available now. For more holiday options, you can continue your search online at Agoda and other digital travel platforms like Expedia and Traveloka, as well as hotel websites.
Related: 5 Best Credit Cards For Travel Insurance
How to prepare for your trip
If you have decided to travel, clothes are not the only items that you will be packing. In the new normal, it is important to take precautionary measures to ensure your safety. According to the guidelines set by the U.S. Centers for Disease Control and Prevention (CDC), you should:
- Bring extra supplies such as face masks, disinfecting wipes and hand sanitiser (with at least 60% alcohol).
- Know when to delay your travel. Do not travel if you or your travel companions are sick.
- Wear a mask to keep your nose and mouth covered when in public settings, including on public transportation and in transportation hubs such as airports and stations.
- Avoid close contact by staying at least six feet apart from anyone who is not from your travel group.
- Wash your hands often or use the hand sanitiser.
- Avoid contact with anyone who is sick.
- Avoid touching your eyes, nose, and mouth.
Additionally, you ought to download the MySejahtera app to your phone. You should also follow the standard operating procedures issued by the National Security Council (MKN).
Travelling in a car
Malaysians who are going on a road trip will find these CDC tips extremely useful. As soon as you enter your vehicle, remember to use disinfecting wipes regularly on the steering wheel, gear shift, door frame/handles, windows, radio dials and seat belt buckles.
During the journey, you will most likely need to use a rest stop toilet. Do wash your hands with soap and water for at least 20 seconds after using the restroom. In the event where soap and water are not available, you should use your hand sanitiser.
When you need to refuel at a petrol station, you should use some disinfecting wipes on the handles and buttons of the petrol pump before you touch it. It is also highly recommended that you utilise contactless payment for all your financial transactions.
Related: #BreakingItDown – The True Total Cost Of Car Ownership In Malaysia
Malaysian airports and carriers have implemented advanced safety and hygiene measures to keep passengers safe.
Taking a flight
Malaysia Airports Holdings Berhad, the operator that manages KLIA and most of the airports in the country, has introduced various measures to ensure your safety as a passenger.
They have installed anti-microbial sneeze guards at service counters as well as hand sanitisers throughout the airport terminals. The operator also revealed that all terminals are regularly sanitised and disinfected using methods such as dry-mist fumigation, blu-ray anion nano sprays and micro-mist blowers.
The country’s airlines are also doing their part in keeping you safe. According to AirAsia, all their planes regularly undergo disinfection by utilising cleaning agents that are in accordance with the Airbus Aircraft Maintenance Manual (AMM). After every night stop, their aircrafts will also go through a two-hour cleaning process.
Thanks to advanced technology, the air in their A320 flight cabins is also completely refreshed every three minutes. This is because AirAsia’s A320 planes are equipped with High Efficiency Particulate Arrestors, which are also known as HEPA Filters.The technology implemented here is similar to the equipment you would find in a hospital operating theatre.
Enjoying a vacation in the new normal
Now that you have made all the necessary preparations for your trip, it’s time to enjoy your holiday. Do remember to keep your family and loved ones safe as well. Have fun!
