Beat Your Breast Now, If You Didn't Buy Gold Earlier!

Want to Save Money, make money actually, buy gold then! The price of gold has gone bonkers.
If you had bought 100g of gold in the second week of February 2009 at let's say Rm10,578.00 (Rm105.78 / g), today you would be laughing all the way to the bank because, your 100g of gold would be worth Rm13,280.00 (Rm132.80 / g). A return on your investment of 25.54% over a period of just over 9 months.
Even if you had the gold-sense to buy 100g of gold as late as in the middle of November 2009 at Rm12,313.00 (Rm123.13 /g), today you would wear a broad smile on your face because, it would be now worth Rm13,280. A return of 7.85% over a period of just 13 days!
Just a word of caution, I am not a gold-investment-expert. I just noticed that the price of gold has gone up like crazy! I shall not be liable in any way should you choose to buy gold now and the price of gold takes a tumble real soon. I really do not think this would be the case, but just in case, I do not want to be held liable for you personal investment choice.

Paying Off Your Credit Cards Faster

Some of us just can't cut up our credit cards because we are unable to pay off our credit card debts.

Let me share with you a strategy I learned somewhere sometime back. Let's say I owe Bank A Rm10,000 and Bank B Rm2,000. If I pay the minimum payment of 5% I would be paying Bank A Rm500 and Bank B Rm100.

If I had Rm1,000 to pay these two credit cards. Most people would either pay Bank A Rm900 and Bank B Rm100; or even bank A Rm700 and Bank B Rm300. These are not the wisest moves.

The better strategy would be to pay Bank A Rm500 and Bank B Rm500. Generally all banks charge 1.5% per month on your credit card balances. So, the interest you would save is same whether you pay Bank A or Bank B, but in the long run, it would be better to pay Bank B. Why? You would get out of debt faster because after you have settled your debts with Bank B, you could apply from Bank B to do a Balance Transfer to Bank A.

In a Balance Transfer, Bank B takes over your debts to Bank A. For business considerations, Bank B will charge you monthly rates as low as 0.5% over a period of six (6), which is way below the normal rates of 1.5%. Imagine how much you would save in interests.

And if you can discipline yourself, you can "swing" between Bank A and Bank B once every six (6) months. Imagine how much in credit interests you would save! This is easier said than done. You need to be disciplined and you have to time it and refine the "technique". However, I assure you that it is worth your while!

Time To Cut Up Your Credit Cards!

Time to cut up my credit cards!!! Time to tell my MP he had better fight 4 me on this (or else... he knows what to expect come the next GE ) Rm50 /credit card Service Tax! If you have 21 credit cards like some of us, you end up paying the M'sian Govt Rm1,050.00 service tax /year! Remember you still have to pay annual subscription fees! The average Platinum Mastercard Annual fee is Rm250. Multiply that by 21, it comes to a whopping Rm5,250.00. This is humungous!

Is Your Money Really Safe in the Bank?

Further to my earlier post on June 4, 2009 entitled, The Amount of US dollars in Circulation is Skyrocketing. How Does that Affect you and me? I refer you to what Robert Kiyosaki recently posted in his Conspiracy of the Rich Bulletin:

Is Your Money Really Safe in the Bank?
Seems that even financial gurus are hurting in this economic downturn. Suze Orman recently teamed up with the FDIC in an endorsement campaign engineered to assure you that your money is safe in US banks. But as Robert says in his latest Conspiracy of the Rich bulletin, while your money might be physically safe in the bank – you could still be losing. "Suze claims that no one has lost money deposited in a bank that was insured by the FDIC. That may be true, but how do you define losing money? The true picture is that the Fed is printing trillions of dollars. This means you may not be losing your dollars, but your dollars are being diluted with trillions in counterfeit money. Parking your dollars in an insured bank causes them to lose purchasing power as commodities such as gold and oil are going up in price. "
– Excerpt from Robert’s Conspiracy of the Rich Bulletin


Think about it, this is the biggest Theft of the Nations. Is keeping cash really that safe now? What with the looming hyper-inflation and the apparent ongoing collapse of the world financial system? Thinking of depositing your hard-earn cash in the safe-and-secure bank, think again!

Anybody can think of any other alternatives?
Robert Kiyosaki recommends investing in precious metals like gold and silver.

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All the best in our common quest of preservation and creation of our financial well-being.

The Amount of US dollars in Circulation is Skyrocketing. How Does that Affect you and me?