Malaysia Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Hong Leong Credit Card

Yoyo… I applied the Hong Leong credit card and it took only 3 weeks to process…I received MasterCard (Mobile Master) and VisaCard(MTV Card) at the same time. Total shared credit limit is RM 4500. Yesterday, i spent some time go to Hong Leong Branch to activate my account instead of calling to Customer Service Centre for activation due to i have some more important questions that need to ask. Indirectly, i can also save my phone charge because need to call to KL number (03) instead of toll number (1800) if activate myself.

I have advised to use it for at least 3 transactions for each of the account within 60 days. If unable to do that, then will be charged RM80 of each.

Hong Leong Master Card offers me 2 years free annual fees and Visa offers me 1 year free once you have activated its. For me, i feel that it’s VisaCard bring more value to me.

That VisaCard is commonly used for clubbers because i found that it would bring more privileges to them. For example, with this VisaCard, which is also MTV Card, the clubbers can get free entrance (no cover charges during Wednesday, Friday and Saturday except public holiday and festive seasons) to access glo, momo, Tiger Armed at Penang Road. Besides, they also can enjoy Happy Hour whole night long beer at Tiger Armed. They also can have 15% discount on each bottle that they open at that mentioned location.

In addition, they also can use at Coffee Bean & Tea Leaves for special discount except Penang & KL Airport Areas. I think you can have junior scoop of ice cream at Baskin Robin once you have purchased RM20 and above in a single receipt.

Personally think that it will bring more benefits to KL people since most of the restaurants got such benefits are from KL like Little Vietname, Moritomo Japanese Restaurant and so on that you may not find at Penang area.

I probably use my credit card for internet transaction only and that’s very straightforward achieve to my objective which is ‘Secrets of making money using credit card’…Haha.. ( will be shared with you on later post )

Good News For EPF Account Holders

What do you think about the lower service charge set by the EPF? Currently unit trust companies can charge up to 6.5% in service charge for investments. This is either Public Bank or Public Mutual rate, which are the highest unit trust rates among other’s unit trust. From Jan 1 2008 all investment that are done through EPF will only be charged a max of 3%. It’s great news for those who invest in unit trusts through EPF. Do you think that’s low enough or is it still high?

Anyway, it’s a great move for EPF to force to reduce the service charge; this will make the UT industry more healthy and active. Indirectly, this move will make all the UT companies to reduce the normal service charge as well.

I think people should not just think of it from one point of view.
Lowering the initial fee is good for EPF investors, but it is actually cutting the commissions of agents. Indirectly, it would cause agents not willing to handle EPF cases, thus not making the investors any good as well. Am I right?

There are 2 accounts in your EPF.
=>Account 1, 70% of your money goes towards your retirement and can only be withdrawn once you reach the age of 55.
=>Account 2, 30% of your money, can be used to obtain a housing loan, education, medical expenses, and pre-retirement withdrawal at age of 50 instead of 55.

MIRC Business Networking Night

Yoyo… It’s ‘by invitation’ and not every people can have this chance to attend MIRC business networking cocktail nite, which falls on last Friday nite 7.30pm at Tanjong Bungah Beach Hotel. The main purpose of this event is to gather all people who are from different background and status to know each other and exchange ideas, suggestions or personal views on their career. Let me share a bit and quick description of my feeling on that nite…

This is the great event that I have ever satisfied with as I can know lots of people who are also can be very helpful in my future career. I felt very happy and enjoy with its on that nite. Although I have not learn much thing but the people that I have recognized mostly from position of banker, successful businessman, IT profession, intelligent marketers, and lots of senior investment team. While I attend myself as junior financial blogger since I have just started this field few months ago. And I felt very proud because there’s no ppl can have such good ways to earn money from Internet besides me.

The environment there is some sort like annual dinner that everyone not only can enjoy the buffet style dinner but also can enjoy with ‘Arabian show’ that was performed by several ‘sweet and slim’ ladies. Wow..it’s really pretty looks that make me always ‘capture and imagine’ with my eyes till I had no time to move my attention on my Sony Ericsson camera phone to take a snapshot on them.

Overall, I felt very thankful to MIRC as provides me the golden chance to meet with all kind of people at that night. All words that have given to me will be treated as important views to make my smart decision in future related issues…

Interview is important?

I write this article due to I realize that interview is an important session that everyone should concentrate on. Interview is to give interviewer chance to know and understand one’s perspective, so that they can analyze from one person whether he/she is a reliable and fully be prepared to take the greater responsibility on the job that will be performed later.

All good company should do at least 1 performance review annually; this is to measure how well, how fast they have performed during working. Not only 1 way but interviewee may also voice out their personal ideas and suggestions on how to do some improvement over the issue that have been arisen previously or currently to interviewer.

I know some of the people take less initiative and do not care much on the interview session. Generally, “interview is a 1st impression of one person to the employer”. For me, it is the procedure that one person should follow before they start employed. Every people nowadays very sensitive on ‘monthly salary’ as this is the income that they have to gain to fulfill their self satisfaction. I found that most of the people like fresh graduated student will have this kind of attitudes. They will try jumping from one company to another company to find more suitable ‘monthly salary’ rather than suitable job.

Personally think that we should find more ‘stable job’ than what is called ‘higher income’ that may not guarantee your job stability in future. Of course, if you can find the job that can provide you both value then will be appreciated. However, you must know that ‘stability’ is the value that is determined by ur performance. With stability, you can try to extend your ability to do more challenging task.

Besides that, if u have stable job performance, you will have stable income indirectly. Subsequently, financial issues will be minimized. The chances of being financial freedom in your life will be higher …

Vending Machine Business

I am wondering whether this kind of business can provide good side income or not.

Well, personally think that there is a bit of risk since you have to prepare a large capital first. Then, you have to look for a location to place the machine and rent the place from the owner and it can only give a good return if put on the right locations. You have to consider the maintenance cost as well.

The only winner I see from this business is the company that provides the machine.
Some of them are doing losing business as not enough revenue to cover the maintenance cost.

Although u can get the machine from china with low cost, can get it less than 10k.
Yet how much u can make?
1 litre only 20cents/10cents and with so many machines around lately…I dun think the owner will come out with the capital, pay the maintenance, utilities and the rental and pls do not forget the risk of vandalism, money get stolen and machines breakdown frequently.

Lets say 1 machine 10k. 1 litre 10cents is the most cheapest in the market…. sharing profit left 7cents, deduct maintain cost 4cents…profit only 3cents…

è 10k/3cents = 333 kilolitre…U need 3 year to get back your capital… Because 1 year u need to sell out 111 kilolitre, 1 month 9 kilolitre, 1 day 308 litre…

Above is my personal opinion for your reference purpose only. If u feel that this vending business can do, then go ahead !!!
The freedom to do what u want exactly when u want to. This is a great chance for you to say “No more 9-to-5 job. No more 40, 50, or 60 hour work weeks.” Haha…