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Thinking About Money? Here Are 5 Tips For M’sians Looking Into Their Personal Finances This 2021!


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Source: Freepik & Freepik

Credit score, savings, investments, personal loans… While some may be used to these financial terms, there is a handful of us who aren’t very familiar with them. But all that is about to change, okay!

As we make preparations for the year ahead, we should also be looking into our personal finances to make sure they are in line with our current and future goals. This makes it easier for us to keep track of our journey and make sure we don’t overspend on unnecessary things! How does one do that, you wonder?? Let us help!


1. Set up auto-debit for your savings fund so it forces you to save!

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Sometimes it really does feel like our monthly income disappears five minutes after we receive it. We’re not the only ones, right…?

This is because we prioritise spending over saving! When we do that, we are left with very little savings for the month. One way to curb that habit is to enable auto-debit straight into your savings fund. This ensures that you won’t be able to spend the money even if you wanted to. Trust us, this works!


2. Prepare an emergency fund with at least two months worth of your salary in it 

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This one is pretty unheard of these days! There are now many banking features we can utilise as our ’emergency fund’ which is something we mustn’t touch unless there is an emergency that requires you to use the funds.

To be on the safe side, we recommend having at least two months worth of salary in this fund so in case there is an actual emergency, you’ll have sufficient funds to sustain yourself. It’s important to note that an emergency fund is NOT your savings fund!


3. Invest, invest, invest your money so it can grow! 

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There are plenty of investment options available but it goes without saying that if you want a higher return, the risk is also undoubtedly higher. With so many options on the market, which one do we choose? Here are some options you can consider:

  • Unit Trusts — a unit trust account will diversify your investments ensuring maximum returns!
  • Private Retirement Scheme — much like your current EPF but this is your own personal contribution so double the savings!
  • Retail Bonds — a stable option that provides consistent returns, a perfect option if you want to stay away from risky investments
  • ASNB — this is a good option for those who are interested in long term investments!

However, it is important to remember to assess your risk profile before investing and make sure your investment matches your risk appetite so you can reap the maximum benefits!


4. Credit cards can be friendly — if you know how to manage them!

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Credit cards, unfortunately, get a bad rep for landing people into massive amounts of debt. But in actual fact, credit cards can be really good for you! There are multiple benefits to using a credit card such as building a good credit score, earning cashback rewards and even discounts! If you’re unsure of which card to get, read up on the different benefits here!

It all lies in making sure to pay off all your bills on time and clearing your credit card debt in full at the end of each month. Accumulating credit card payments can eventually lead to a hefty sum due to the bank’s interest rate so be sure to clear your bills!


5. Apply for a personal loan to help manage your finances better 

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Yeah, we said it. We know what you’re thinking. Personal loan to manage finances better? YES! Personal loans tend to get a bad reputation too but in all honesty, it can be quite beneficial if you know how to utilise it correctly!

If this is something that interests you, you should check out Citibank’s personal loan campaign!

You’re probably wondering how a personal loan can help you, here are just some ways to benefit from it:

  • Post-graduate education – a personal loan can assist you through the heavy financial burden that comes with education without pushing back your own personal plans
  • Manage credit card debt – if you have a few credit cards that need to be paid off immediately, a personal loan can help you to consolidate them under one loan and track your debt easily as well as manage one interest rate instead of a few separate ones. It’s a pretty smart move, if you ask us!
  • Life emergencies – when this happens and we need financial assistance, a personal loan can help you weather the storm.
  • Pursuing your dreams – having a personal loan will give you the funds you need to pursue your passion, whatever it may be, without any delays. It’s surely a lot better than borrowing money from family members or friends! 
  • Stretch your repayment period – Since personal loans offer a fixed repayment amount every month, you can manage your finances with certainty be it in the present or the future!

Now, personal loans aren’t that bad, right? When used correctly, they can assist to carry us through various stages in life.

Of course, you have to know how to manage your money well and make sure you don’t miss any repayments because not only will that affect your credit score which will jeopardise your opportunity for more loans in the future, you’ll also be facing higher payments if you do this!

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Now that you know what you can use a personal loan for, let’s walk you through what Citibank is currently offering because you’re not gonna want to miss this!

  • You can get a loan of up to 10x your gross monthly income, the capabilities are endless!
  • With low flat interest rates of 5.88% to 9.80% per annum, it’s undeniably one of the best deals in town!
  • Your loan amount ranges from RM5,000 up to RM150,000! Wow!
  • You can take between 24 and up to 60 months to repay your loan. It’s literally buying time 😉
  • No processing fee will be charged.
  • Best of all, no collateral or guarantor is required!

It’s almost unbelievable, right?!

Now, if you’re ready to start the application process, you’ll be happy to know that you can get IN-PRINCIPAL APPROVAL INSTANTLY with three easy steps! 😍

  1. Fill in your contact details by clicking this link
  2. Enter your personal details and upload your ID image
  3. Provide necessary employment documents

And you’re done! Say goodbye to the anxiety of waiting to know if your loan has been approved or not!

We hope everyone now understands the benefits behind personal loans and how we can utilise it to better ourselves. If you’d like to know more, you can visit their website here! Remember, no dreams are ever too big to be realised with Citibank.


Have you used a personal loan before? What’s your experience with it? Share with us in the comments below!

Source: Freepik
Source: Keflah
Source: Citibank
Source: Freepik
Source: Citibank

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