Malaysia’s Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Why PTPTN Loan Interest Rate Still 3% ?

I think I should feel proud at this moment because I always keep on paying back the PTPTN loan. Compare to many other borrowers, most of them will defy the loans even they have money to payback. And, in the end, they may receive the warning letter then only start to pay.

Why PTPTN Still Charge Me 3% Interest Rate But Not 1% ?

I had been taking PTPTN loan for my Diploma, which is a total of RM10, 000. Based on the first agreement that I signed, the interest rate was around 3%. However, our Prime Minister announced that the interest rate of PTPTN would be reduced to 1% since 1st of January 2008, and clarified that this will apply to ALL students.

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United States Casino Winnings Tax

It can be fun and more exciting when you win the casino game. However, the IRS will take about 30% as part of the casino winnings taxes. I know this could be disappointing for all players, but the taxes can be taken back from the IRS in the form of casino tax refunds.

Based on my understanding, if the gambler want to claim the casino tax refunds then they can try to record how much have been won and lost each time they play on the casino game. In addition, those evidence such as tickets, receipts, or records can be present to the IRS (similar to Malaysia’s LHDN) in order to claim gambling tax refunds more easily.

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Latest Scam In Malaysia: Island Red Café

Recently I have received a lot of complaint about Island Red Café investment as they claimed that they stopped receiving the vouchers and cash payouts earlier this year. After careful investigation by police, it’s officially announced that this business is a scam.

Here, I would like to remind all of you, before making any type of investment, you need to do your own research and don’t fully trust their business plan as they may fool you around. For example, in this situation, you need to see the Island Red Café environment first, and taste their foods & service. Check back my previous articles about Why I Don’t Dare To Invest?

Island Red Café Is A Scam Business

Island Red Cafe collects members RM6, 000 each and promised will give 5% return every month and even give you a name in the black & white agreement as a shareholder but what’s the point if they run away? In fact, you cannot do anything; you just can go to their shop and take all their business equipment such as the furniture (table, chair, fan…) after they declared themselves bankrupt.

Island Red Café Business Plan - Ponzi Scheme

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Malaysia Budget 2010

Datuk Seri Najib Abdul Razak has announced Malaysia Budget 2010 just now. This is the first time he represent first budget. As many people believe that Malaysian economy is slowly picking up, do you agree with that? Do you think the new Budget 2010 can transform Malaysia’s economy?

My Wish On Malaysia Budget 2010

I personally wish that this new budget strategy could help to stimulate the Malaysia economic and investment, the aspects that Malaysia government should be focused on are:

i) The personal income tax and corporate tax should be reduced in order to minimize public financial burden and always think in more creative way to help in long-term investment on infrastructure.

I hope that with the implementation of “The maximum income tax rate for individuals to be reduced to 26% from assessment year 2010. Personal relief increased to RM9,000.” under Budget 2010 can help the middle income group of people.

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The Most Success Online Auction Site: eBay

Generally speaking, eBay provides good opportunity for those who are seeking to start a internet based business. Nowadays, eBay resellers can earn their income by just selling items on eBay. At this point, you will notice that there are tons of consumers who love to shop on eBay auction site.

Advantages of Selling Products On eBay

If you can discover the secret how to make money on eBay then it’s great for you. Do you know why? This is because you don’t need to:

- have any technical skills & sales experience.
- work long hours.
- invest any of your own savings to make money.
- hire employees, inventory, worry of product delivery, make phone calls, rent office space and so on.

All you have to do is just post your pictures of products and receive the money. That’s how eBay works. Is that easy?

Know More About eBay Facts & Figures

Do you know…

When was eBay founded in the US? => Year 1995
How many registered users worldwide currently? => 233 millions

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Weaker US Dollar Against Ringgit

The Ringgit Malaysia went lower against the US dollar again. Do you think it is good news for those blogger who making money online? The Ringgit Malaysia is in between the 3.32 to 3.40 level against the US dollar this few weeks. Based on my personal finance analysis, the Ringgit was higher against the US dollar at 3.44 on the month of September while at 3.48 on the month of August.

At this moment, when the US housing market demand is decreasing, the job market is not that aggressive and consumer-spending power is lower; all these reason will cause the weaker US dollar.

I still remember last year, the value of the US dollar has fallen significantly and it hit the record of 30 years lowest. For me, this weaken US dollar also similar to two sides of coin, means that it also has its advantages and disadvantages. I am going to share with you the benefits only, as many people still remain negative thinking during recession nowadays.

Advantages of a Weaker Dollar

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Western Union Vs MoneyGram

Most of the people know to make use Western Union when sending money from 1 location to another location, thus Western Union is the most well-known money transfer service around. And, it has more agent locations than other money transfer services. But, do you know what is the main competitor of Western Union? Yes, it’s MoneyGram, actually it’s almost same like Western Union. The procedure is quite simple and it just takes a few minutes to fill out the form and then your money can be sent to the receiver who is stay another side of the world.

As I known, MoneyGram also offer the services like make payment for your utility bills (e.g gas, phone, water, electric and so on). Perhaps in future, I will try to make use of this service to pay several of my bills each month. Furthermore, it also allows you to use its service to top up some fund into your prepaid credit cards.

Why I Rather Prefer To Use Western Union Than Cheque?

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