Real tips, real people: Money advice from personal finance bloggers

If you ever feel confounded about personal finance matters, know that you’re not alone. According to the Malaysia National Strategy for Financial Literacy (2019 – 2023) report*, 1 in 3 Malaysians consider themselves to have low financial knowledge. The research also stated that 41% of Malaysians rely only on their EPF savings for retirement; and 16% of Malaysians are very worried about household expenses in their old age. 

There are plenty of ways to up your financial literacy – and when it comes to banking products, it is always good to first seek financial advice from a trusted banker. You can also engage with a certified financial planner to help manage your money, and even learn from personal finance books/blogs.

In this article, we give focus on personal finance bloggers and their real-life tips that can help you in your money management and wealth creation journey. 

If you’re a fresh graduate/young executive in need of a car, then this tip can be quite handy for you. This article breaks down how much you can realistically afford (just as a guide, FYI) and the cost of car ownership.

It is also advisable to find out about your affordability on many other items – from big ticket items such as a house, or smaller items such as your gadgets and smartphones.

Why should you care about loan/financing affordability? It can help to keep your debt-to-service (DSR) ratio in check and most importantly to ensure that you have enough money to cover your monthly expenses.

Our additional tip: CIMB also has a whole range of affordability calculators for you to test out here. Give them a try.

If you’re embarking on your wealth-building journey, the most important thing to remember is that it takes time and perseverance to help you reach your money goals. And of course, to keep learning about personal finance as you go along the passage.   

This article is for informational purposes only and does not constitute and form of solicitation or financial advice. CIMB does not make any representation and warranty as to the accuracy, completeness and fairness of any information contained in this article. CIMB is not affiliated to or associated with any of the bloggers mentioned in this article. The views and opinions expressed by the bloggers here are their own and may not necessarily represent CIMB’s views. As this article is general in nature, it is not intended to address the circumstances of any particular individual or entity. You are advised to seek professional advice, including speaking to a qualified financial advisor or investment professional before making any financial, credit or investment decisions based on the information contained in this article. CIMB assumes no liability for any consequences arising from your reliance on the information presented here.

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*https://www.sc.com.my/api/documentms/download.ashx?id=6385977c-bd2c-4612-bda8-9ce6a5961720