Was reading this while waiting for my laptop to start up:
Some of the highlights/keywords:
* DISCIPLINE, determination, drive
* That's how you get wiser - by hanging out with smart people
* I don't know how you can expect to get anything you want without some degree of long-term commitment
* All I talk about is money... but my decision to live in a safer community or have better good - it's all based upon money
* Flipping is gambling
The word "discipline" appeared 4 times in the one page interview.
This article hit me because yesterday morning, I just had a conversation with a senior who's getting higher pay than me, but his savings till now is less than the amount that I've invested in stocks and property in the 1st half of this year. I was very shocked to find out that he hardly saved. He told me he just prefers to enjoy life. I told him, yeah, sometimes I do get lost, wondering why people around me who gets paid less than me are driving bigger car, while I'm thinking that mcD is too expensive.
DISCIPLINE - I'm determined that delayed yet greater gratification is the way to go.
Showing posts with label Money Matters. Show all posts
Showing posts with label Money Matters. Show all posts
Thursday, July 9, 2009
Saturday, January 3, 2009
eFixed Deposit
Got a "brilliant" idea to share with you all... introducing the "eFixed Deposit"!
Instead of letting your money rot in the savings account, why not put your in FD using the eFD service? Let me show you some calculation....
Assume we have RM 3000...
1. Normal savings account ~
Max interest rate = 1.51% p.a. (you'll get this interest rate if your deposit amount is above RM 500k o.O")
Interest per month = 1.51% x RM 3000 / 12 = RM 3.78
2. eFixed Deposit (tenure = 1 month, auto-renew) ~
Interest rate = 3.0%
Interest per month = 3% x RM 3000 / 12 = RM 7.50
Note: by using 1 month tenure with the auto-renew function, it's just like another savings account. You can uplift your eFD anytime you want without losing much interest.
That's almost double the amount of interest that you can gain!!
It doesn't seem to be a lot... but with a few clicks, you can get 98% extra interest compared to normal savings account, that's really "no pain sure gain" =)
Note: the above scenario is based on Maybank system; CIMB's eFD does not provide you with the auto-renew convenience, and I just found out that it doesn't allow FD placements from joint accounts.
Instead of letting your money rot in the savings account, why not put your in FD using the eFD service? Let me show you some calculation....
Assume we have RM 3000...
1. Normal savings account ~
Max interest rate = 1.51% p.a. (you'll get this interest rate if your deposit amount is above RM 500k o.O")
Interest per month = 1.51% x RM 3000 / 12 = RM 3.78
2. eFixed Deposit (tenure = 1 month, auto-renew) ~
Interest rate = 3.0%
Interest per month = 3% x RM 3000 / 12 = RM 7.50
Note: by using 1 month tenure with the auto-renew function, it's just like another savings account. You can uplift your eFD anytime you want without losing much interest.
That's almost double the amount of interest that you can gain!!
It doesn't seem to be a lot... but with a few clicks, you can get 98% extra interest compared to normal savings account, that's really "no pain sure gain" =)
Note: the above scenario is based on Maybank system; CIMB's eFD does not provide you with the auto-renew convenience, and I just found out that it doesn't allow FD placements from joint accounts.
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