5 Resources to Improve Your Knowledge of Personal Finance
by Rachel Yeoh. |
I remember the first time I took home my paycheck from a REAL job. There was a smile on my face, and I felt like I was walking on Christian Louboutins.
Looking back, I realised how silly I was, taking home a measly thousand over Ringgit and feeling like a millionaire. I thought I had the money to shop and order the food I want without looking at the menu. I thought I could afford my weekly boba sessions and holidays.
How did I even score Mathematics in school?!?
One day a friend of mine sat me down and asked, ‘Where is your money going? Are you saving it?’
‘Urm,’ my face gave it away that my money ain’t going anywhere close to saving accounts.
That little nudge from her got me to question the vitality of my finances - which at the moment was dry bones. My PTPTN loan was unpaid, my credit score was… wait, what is a credit score?
It has been a few years since that episode, and I am proud to report that I have a better understanding of personal finance.
It is so important to know that personal finance is a journey, not a destination. You’ll still need money when you are old and grey. How you spend, save, and invest will determine your quality of life in the future.
Let’s cut to the chase and find out five online resources that are super helpful when it comes to educating personal finance noobies like me!
1. Ringgit oh Ringgit - Blog
Source: ringgitohringgit on Facebook
I stumbled upon this blog a few years ago when I Googled on how Malaysians manage their finances. Her blog had good SEO, but it was her content that kept me coming back. I enjoyed reading her personal finance journey, her monthly budget updates and venture into investments. Noobies need someone to narrate how they are navigating through personal finance and investments without the mention of ‘I-am-smarter-than-you’ jargons. If you feel like you are CLUELESS about how to save and invest money, Suraya (the author) is the go-to-girl!
Here are some of my highly rated Ringgit oh Ringgit blog posts:
[Personal Favourite] 7 Mind-Blowing Concepts That Shaped My Personal Finance Mindset
2. Mr. Stingy - Blog
Mr Stingy is another blog that came up on my search results when I was desperately trying to find a way to pay off my PTPTN loan. I was RM50k in debt and faking my best life. Letters from PTPTN were taking up real estate in my postbox because I was behind on my payment. When I read about how he paid off his RM58k education debt, I aspired to do that too. Although I did not mirror his course of action, his pay-off-debt hack inspired me to take the necessary steps to pay everything off in three years!
You’ll enjoy his entries that cover lessons learnt, relationships, financial decisions, and career development.
Here are some of my highly rated Mr Stingy blog posts:
3. StashAway - Webinar and Podcast
Source: Google Play
First, there are savings, and then there's investing. When I was younger, I viewed investments as gambling because of the rapid buying and selling, but thanks to Stashaway (not sponsored, by the way), I can put my foot into investment as I learn more about it.
I had no idea what bonds, REITs, and ETFs were until I signed up for one of StashAway Academy’s many webinars. If you didn’t know, StashAway is a robo-advisor investment app that makes investment decisions for you. Artificial intelligence uses the money you add into your account (can be as little as RM50) divides it into several investment portfolios. Their service could just end there, but instead of leaving us uneducated about it, their academy seeks to advance our knowledge on investments.
There are basic, intermediate, and advanced courses for you to choose from. Visit their website to know more about the upcoming webinars. Sign up for those that spark your interest!
I am just glad they are not taking advantage of noobies by selling their robo-investment service but educating the public about the basics (and not so basics) on investing. If you are not keen on webinars, head over to In Your Best Interest by StashAway on Spotify to listen to their latest podcasts.
4. BFM Ringgit and Sense - Radio Segment and Podcast
Every week, BFM Ringgit and Sense upload their live segment on Spotify. They have conversations that tackle current money matters like investments, fixed deposits, and personal finance management. It might be a tad deep for some, but once you’ve consumed content from the above blogs and podcasts, the episodes on BFM Ringgit and Sense will make much more...sense.
Here are some of my highly rated BFM Ringgit and Sense podcast titles:
5. Mr Money TV - YouTube
Source: Mr Money TV on Facebook
After saving up some money, I realise my next course of action would be to invest it. Again, I went online in search of a ‘manual’ that will help me understand how to start. But all I got was a series of gobbledygook that left me as confused (if not more confused).
Then I found Mr Money TV on YouTube (cue intro of heavenly music). It claims to be an edutainment channel on all things money, and after watching several videos back to back, I must say their claim rings true. They break down words typically used by investors, making it bite-sized and easily understood.
Here are some of my highly rated Mr Money TV episodes:
6. Suyin Ong
Source: SuYin Ong on Facebook
If you are one who likes to watch an informal chat about money, catch Suyin Ong on YouTube. What I like about her videos is that she is casual and chit-chatty about finances. None of the ‘you must do this’ or ‘I know what is best’ kinda preaching. She shares her opinions about saving and investing and breaks down finance and investing terms very well.
Here are some of my highly rated Suyin Ong episodes:
The resources mentioned above are made by Malaysians, for Malaysians. Even if you are in debt, trying your best to save money with nothing more left to invest, it is no biggie. The most important investment is to invest in yourself. How do you invest in yourself? By educating yourself lah!
So shoo shoo, time to advance your financial literacy! Don’t say I bojio (didn’t invite) ok?
You can learn more about the writer on Instagram.