Bebas Hutang (Debt Free)

clear your debts…and make money working for you

Malaysia Will Likely Increase Interest Rates In Q3

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KUALA LUMPUR, July 9 (Bernama) — Malaysia will likely increase interest rates in the third quarter in an effort to curb inflation, having adopted a neutral stance for the whole of 2007, said an economist.

Bank Negara Malaysia’s policy setting meeting is scheduled for later this month. It has kept the overnight policy rate unchanged at 3.5 percent at its last meeting.

Malaysia’s inflation, as measured by the Consumer Price Index (CPI), was at a 22-month high at 3.8 percent year-on-year in May.

A lot of central banks in the Asia-Pacific have or will be raising rates as inflation across the region has soared in recent months and price growth momentum remains strong going into the second half of the year.

Moodys’s economist, Sherman Chan, said the food crisis remained a central concern and continued to put upward pressures on prices. She said the fuel price increases implemented by several economies in the last two months would have a notable impact on inflation during the September quarter.

“The Asean economies are facing a similar inflation and monetary policy outlook. For Indonesia, Thailand, Malaysia, Singapore, the Philippines and Vietnam, CPI growth will likely peak in the third quarter and gradually slow in the final months of the year,” she said in a research note.

She said inflation, despite eventually cooling, would remain at uncomfortably high rates. “This will see Indonesia and the Philippines continue with their tightening agenda in coming months.

“Malaysia will likely increase interest rates in the third quarter, having adopted a neutral stance for the whole of 2007. Thailand also looks set to begin its tightening cycle this month,” said Chan. …more…


July 13, 2008 Posted by | Article/News, Economy | , , , , , , , , , , , , , , , , , | Leave a comment

Part 1 – Experience with MLM

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In Malaysia, everybody knows what MLM is. It stands for Multi Level Marketing. How this business influences Malaysian people?…including me.

Since I first start working in 2003, until before I get married, my salary was just good enough for me. Even I can’t save much, but I still could make some saving. But it changed after I get married. My commitments were become different. There were a lot of things that we need when we are in a family. Then I realized that my current salary is not good enough for us to get better life. So what we did?

I started looking for side income. But I couldn’t do part time job at that time. I was an Engineer at one of Semiconductor Company in Kuala Langat. I always turn back late, even without OT…too bad huh!…but that was my first job…biasala, semangat lebih…haha.

So what we could do to get side income is by doing MLM. No need huge modal, with less than RM100, you can become a member. I joined few MLM…start from Elken, Amway, Network 21, and then Uptrend. The last one was JAI…most people said JAI is not MLM, but now the company’s account has been frozen by Bank Negara and charged illegal. I heard the company has been charged because they doing MLM business without a proper license. So now I considered JAI as MLM too.

What we get after few years with MLM? We lost our time, we lost few k especially with JAI, but we got a good lesson. In fact, none of my uplines in each MLM are really success with MLM after few years. Its not easy as what they keep said to me huh. Now I really 100% don’t believe with MLM or any other business that similar with it.

What I’m doing now? I’m doing financial planning, and hope can share with you guys how I clearing my debts. To be continue…

July 13, 2008 Posted by | MLM | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Financial Education

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There are 3 types of educations.

Scholastic Education

This education teaches us to read, write and do math. It is very important education.

Professional Education

This education teaches you how to work for money. Such as doctors, lawyers, accountants, plumbers, and electricians, automobile mechanics.

Financial Education

This is the education where you learn to have money work for you rather than you work for money. Have you heard a person paid more than RM10k per month, but do not have saving? Doesn’t matter how much you earn every month, but how you can manage your financial, and how much you could save. And this third education is not taught in most schools, colleagues or universities. So where you can have this education? The answer is read a book, get advise from financial planner…or read this blog.

July 12, 2008 Posted by | Financial Education | , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Apakah maksud Kaya

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Sebelum aku berjinak dengan perancang kewanganan, biasanya aku akan panggil orang yang pakai kerata besar, rumah besar itu orang kaya. Atau yang gaji 5 angka dan keatas. Tapi sekarang tidak lagi.

Tak kira berapa gaji seseorang itu, atau apa yang dia ada, samaada kereta besar, rumah besar, tapi kalau mereka juga mempunyai bebanan hutang seperti gadaian, pinjaman kereta atau kad kredit yang tak pernah langsai, mereka adalah sama sahaja seperti yang berpendapatan rendah.

Kekayaan adalah nilai bersih anda. Jika nilai keluar adalah sama atau melebihi nilai masuk, bagaimana anda dapat mengumpulkan kekayaan.

Mungkin anda akan berkata, “saya beli kereta BMW 3 series sebab saya mampu membelinya dengan gaji sekarang”…ok, fine..anda bergaji besar. Tapi anda tetap membayarnya setiap bulan bukan kan? Mungkin selama 7 hingga 9 tahun. Dan dengan pembelian BMW itu, peruntukan untuk simpanan sudah tiada…sama seperti masa anda bergaji kecil dan hanya memakai Proton Wira. Tanpa simpanan, bagaimana anda ingan mengumpulkan kekayaan?

Jadi ingat, kekayaan dinilai dari NILAI BERSIH, bukan pendapatan anda. Millionaire hanya akan dipanggil millionaire jika dia boleh mendatangani cek bernilai 1 million.

July 12, 2008 Posted by | Bebas Hutang (Debt Free) | , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Welcome to Bebas Hutang

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Welcome to Bebas Hutang. This blog is to share experience to achieve bebas hutang (financial freedom) with tips and article about financial and also advise to your financial. Continue reading

July 11, 2008 Posted by | Bebas Hutang (Debt Free) | , , , , , , , , , , , | 1 Comment