From few thousands years until nowadays, accounting is still not out-dated but changed in its role. In Malaysia, accountant is a respected job as it is considered professional job ever.
I still remember what did my teacher say when I was in secondary school. She said, accountant earned a lot of money, stable(Boss would not fire accountant first if there is any job-cutting), professional and respected. She gave us a lot of impressions of how good in becoming an accountant.
No doubt, many of the students strongly believed in her said. But I DIDN'T. I do believe that technology keep on advancing every moment in the world, nobody would escape from its impact. If we were still believing in the old mind of industry time, we were out-dated, indeed.
It is not wrong if she said this at 20 or 30 years ago. It definitely wrong if you were still saying this kind of thing in 21st century. Everyone still mixes accountant clerk and qualified accountant.
Nowadays, accounting separates into 2 types: executive and professional. Mostly, executive is doing some accountant's old time job, like key in data, recording transaction. Qualified is acting as a business adviser, provide information to customers or boss, like taxation, legal, and cost structure.
So, can you see the differences? Accounting has changed. Switch from recorder to adviser. You must professional enough if you are ready to be qualified. If accountant is STILL doing recording, why we must have a degree certificate? Diploma also too much for it.
Sadly, most of the Malaysian students do not realise it.
Friday 16 December 2011
Monday 12 December 2011
Hesitating in opening account
Not very much I have in my saving account, mostly, could buy some of the shares.
I have saved nothing in this semester, since I expected there will be no saving in first or two semester as I could spend a lot in eating, buying stuff, and some unexpected expenditure like repairing.
In my other account, the money has not been moved since last semester. There was a Citi Bank officer told that Malaysia has 220 basis points in its monetary policy, means that our purchasing power will be decreased every year 220 basis points, example: if you have RM100, after ended of the year, your money will only worth RM 97.80.
This is what we called inflation. We could not avoid it unless we can create extra cash flow other than salary, like investment or set up own business. Inflation will kill our life if we do nothing on it.
Avoiding decreasing purchasing power, I intend to open an CDS account which is for share investment.
I have not built my investment portfolio yet, but soon to make it. Few of the companies are being observed and categories.
A first ever step of Reaching to financial freedom!
I have saved nothing in this semester, since I expected there will be no saving in first or two semester as I could spend a lot in eating, buying stuff, and some unexpected expenditure like repairing.
In my other account, the money has not been moved since last semester. There was a Citi Bank officer told that Malaysia has 220 basis points in its monetary policy, means that our purchasing power will be decreased every year 220 basis points, example: if you have RM100, after ended of the year, your money will only worth RM 97.80.
This is what we called inflation. We could not avoid it unless we can create extra cash flow other than salary, like investment or set up own business. Inflation will kill our life if we do nothing on it.
Avoiding decreasing purchasing power, I intend to open an CDS account which is for share investment.
I have not built my investment portfolio yet, but soon to make it. Few of the companies are being observed and categories.
A first ever step of Reaching to financial freedom!
Sunday 4 December 2011
Information Overloading
For the few centuries, human community have been gone through highly development of industry, or revolution of industry is more accurate. Within that particular time, numerous innovation and resolution had come out and changed human's lifestyle, in long term.
During that time, people did not need much as less demand created. Most of the people were self-employed, mostly got farms, lands, properties, and own stalls. They would have never thought that most of the people would become employed workers after hundred of years. It happens now.
It doesn't matter with being employed or self-employed for now,though Robert Kyoshiki claims that we should set up our own business instead of being employed which highly depend on only one income, insufficient enough for financial freedom. We should always upgrade ourselves to get improved. Information is necessary.
Information century has come. Every single thing in the world would be revealed through Internet, the largest information store in the world. With the power of the Internet, every impossible has become possible. Information spread quickly without realising it. The impact is unimaginable.
Homework like assignments, business proposal, financial information, even though company profile also can be found easily in the Internet.
The problem is, overloading. If we receive to much of information, overloading always happens. Now, the information that I received has been overloading. Too much and complicated. how should I rearrange my system? It's a headache question.
During that time, people did not need much as less demand created. Most of the people were self-employed, mostly got farms, lands, properties, and own stalls. They would have never thought that most of the people would become employed workers after hundred of years. It happens now.
It doesn't matter with being employed or self-employed for now,though Robert Kyoshiki claims that we should set up our own business instead of being employed which highly depend on only one income, insufficient enough for financial freedom. We should always upgrade ourselves to get improved. Information is necessary.
Information century has come. Every single thing in the world would be revealed through Internet, the largest information store in the world. With the power of the Internet, every impossible has become possible. Information spread quickly without realising it. The impact is unimaginable.
Homework like assignments, business proposal, financial information, even though company profile also can be found easily in the Internet.
The problem is, overloading. If we receive to much of information, overloading always happens. Now, the information that I received has been overloading. Too much and complicated. how should I rearrange my system? It's a headache question.
Saturday 3 December 2011
It is always a war
About few days ago, every UTAR student were tension, anxiety, and nervous. You must be wondering, what was happening? This will happen once per semester, and everyone hates that very much though this policy is not bad at all.
Yes, it is course registration! UTAR claims that this policy is implemented due to the international standard, which almost every popular university in the world is implementing the same policy---registering subjects through online. I have said it, this is not bad at all as this could make students have their time management more efficiency and effectively, at least, students can arrange the timetable by their own.
The problem is the server, where always makes the system going down. UTAR students do not hate the policy but the server. I think many of the students were trying to grab the good time for themselves, not exception on me, too. Unfortunately, the server did not function well, or should say overload due to exploding of students demands.
Being kicked out many times, unable to log in, long time waiting, and some subjects have been grabbed fully! I did not expect to finish it within 1 hour, but I did expect to get what I wanted. Now, everything must be rearranged again,
Many UTAR students have the same feeling as mine, they even worst. The course registration has been said it is war when it comes. We are the warriors or soldiers who are holding swords(mouse) and shields (F5,refresh), and we are always be the losers.
Yes, it is course registration! UTAR claims that this policy is implemented due to the international standard, which almost every popular university in the world is implementing the same policy---registering subjects through online. I have said it, this is not bad at all as this could make students have their time management more efficiency and effectively, at least, students can arrange the timetable by their own.
The problem is the server, where always makes the system going down. UTAR students do not hate the policy but the server. I think many of the students were trying to grab the good time for themselves, not exception on me, too. Unfortunately, the server did not function well, or should say overload due to exploding of students demands.
Being kicked out many times, unable to log in, long time waiting, and some subjects have been grabbed fully! I did not expect to finish it within 1 hour, but I did expect to get what I wanted. Now, everything must be rearranged again,
Many UTAR students have the same feeling as mine, they even worst. The course registration has been said it is war when it comes. We are the warriors or soldiers who are holding swords(mouse) and shields (F5,refresh), and we are always be the losers.
Monday 28 November 2011
Self-Disciplined is essential
Although I am not familiar with the Investment yet, there are some common essential elements are known well by ordinary people---Courage, Risk Management, and Self-Disciplined. Usually an investor would more focus on the profit rather than risk or extremely, risk rather than profit.
Risk is come when you do not know what are you doing. People tend to avoid risk as well as lowest risk but guarantee return is the best way. Not wrong at all but chance would be losing out if we do nothing on learning the financial tools or financial terms. Not more than that, Courage is the way to push you up to take action.
Actually, self-disciplined should be applied, too. Everything could mess up if self-disciplined is not applied. Set up a target, then plan for time management wisely, implement it with strong will. If giving up on the half way, means that we have no self-disciplined or not strong enough. Talking always easier than doing. Do not stop in the planning stage. Many people like me, always stop or give up during the planning stage. Doubt on self-capable, afraid of failure and not confident with myself. I would not fail if I do not think in this way but I do, actually.
Now, I have no any long term planning , yet short term is being planned currently. Small step would be started off first by implementing it strictly. I must tell myself to do it everyday. Inflexibility is the weakness to overcome cause I am quite extreme in time management. Hopefully I could do well.
Risk is come when you do not know what are you doing. People tend to avoid risk as well as lowest risk but guarantee return is the best way. Not wrong at all but chance would be losing out if we do nothing on learning the financial tools or financial terms. Not more than that, Courage is the way to push you up to take action.
Actually, self-disciplined should be applied, too. Everything could mess up if self-disciplined is not applied. Set up a target, then plan for time management wisely, implement it with strong will. If giving up on the half way, means that we have no self-disciplined or not strong enough. Talking always easier than doing. Do not stop in the planning stage. Many people like me, always stop or give up during the planning stage. Doubt on self-capable, afraid of failure and not confident with myself. I would not fail if I do not think in this way but I do, actually.
Now, I have no any long term planning , yet short term is being planned currently. Small step would be started off first by implementing it strictly. I must tell myself to do it everyday. Inflexibility is the weakness to overcome cause I am quite extreme in time management. Hopefully I could do well.
Sunday 27 November 2011
Attitude decides it.
In reality, many people have been misled by the medias in doing financial planning. Like newspaper medias, many of us have been taught to diversify our own financial wealth to avoid risk. Technically, diversification is the key to avoid risk, but not really works all the time especially for those who are the low-middle incomers.
We must bear in mind that over-diversified could make your wealth to be over-separated, and it does lead to the real risk---unable to focus. If you cannot focus just because of diversification, that means the method or way is wrong enough to make you fail. No doubt, diversification is needed but not overdoing it. Some people are addicted to diversify it just afraid of risk, divide the income into 4 or 5 categories----share investment, unit trust or mutual fund, fixed deposit, property, and insurance.
I don't really buy in this way because I would not do something too separately. Concentrate in one particular field first then only get into second field. This should be the correct way for the employed people. Bear in mind that, all is talking about the attitude. If you have wrong attitude when you are doing investment like expecting to earn huge money within few minutes by clicking few buttons, it could mass you up. Should we know that, everything is accumulated in investment, as well as financial wealth.
Not more than that, do not afraid what are you doing now, if you do so then just give up of it. Doing things fearfully could lead you to failure. Afraid of nothing should be the way.
Remember, will controls mind, mind controls attitude.
We must bear in mind that over-diversified could make your wealth to be over-separated, and it does lead to the real risk---unable to focus. If you cannot focus just because of diversification, that means the method or way is wrong enough to make you fail. No doubt, diversification is needed but not overdoing it. Some people are addicted to diversify it just afraid of risk, divide the income into 4 or 5 categories----share investment, unit trust or mutual fund, fixed deposit, property, and insurance.
I don't really buy in this way because I would not do something too separately. Concentrate in one particular field first then only get into second field. This should be the correct way for the employed people. Bear in mind that, all is talking about the attitude. If you have wrong attitude when you are doing investment like expecting to earn huge money within few minutes by clicking few buttons, it could mass you up. Should we know that, everything is accumulated in investment, as well as financial wealth.
Not more than that, do not afraid what are you doing now, if you do so then just give up of it. Doing things fearfully could lead you to failure. Afraid of nothing should be the way.
Remember, will controls mind, mind controls attitude.
Sunday 6 November 2011
Giving up
Recording expenses and controlling consumption became nothing after I decided to give up of doing these. Didn't I keep on mentioning that I wanted to change my financial attitude as I always saved nothing in the end of the month.
About 1 week time, I have spent a lot money which was out of expectation. Like repairing bicycle, transferring of transcript, and printing...since I have less money to cover up, the mind of giving up has come out.
No idea how to reconstruct my daily expenses. Increase income is the only way to work out this problem. It means I have to get a part-time job? it seems like not suitable for me as the degree course is ongoing with the coming tests and assignment due dates.
There is one idea that I could come out with---investments. Yes, if I am unable to catch up a part-time job where should I spend time for it, investment no doubt, a really good idea for me to increase my passive income without affecting my study.
Now the question is, where should I open my investment account?
About 1 week time, I have spent a lot money which was out of expectation. Like repairing bicycle, transferring of transcript, and printing...since I have less money to cover up, the mind of giving up has come out.
No idea how to reconstruct my daily expenses. Increase income is the only way to work out this problem. It means I have to get a part-time job? it seems like not suitable for me as the degree course is ongoing with the coming tests and assignment due dates.
There is one idea that I could come out with---investments. Yes, if I am unable to catch up a part-time job where should I spend time for it, investment no doubt, a really good idea for me to increase my passive income without affecting my study.
Now the question is, where should I open my investment account?
Saturday 29 October 2011
The First
After 1 year learning in investments and financial planning, I have decided to have my own financial diary in order to record what I have done and any mistake that I have made.
Usually I spend about RM12 per day for my meals as I do not think that save money by reducing budget in meals is a rational way after all. Heath is the most priceless wealth in the world, you can do nothing without a healthy body. Food is the source of energy like an enterprise needs money to finance its operation. By the way, RM12 is not a fixed amount and I may spend more or less than this amount.
Printing fees is inevitable. Notes and Tutorial questions are needed for my study. Nevertheless, i try not to spend more than RM 12 per day. I want to achieve 20% of my income (from my parents) are saved for my future investments. I got RM600 from my parents for every month. Rental will be RM160 something, RM 12 per day spending, with the total of RM360-RM400. Not much I can left, RM 40-RM 80 is the maximum saving.
The overspending in this month has caused me no saving. My PC was repaired because of hardisk problem and it is costed RM 245!! Half of my income had lost~~furthermore the printing fees~~
Now I have left RM275.11 in my account, RM 99.95 for my current asset (cash).
Assets Amount (RM) Cash 99.95 Bank 275.11 Saving 1688 Receivable 400 Total 2463.06
Usually I spend about RM12 per day for my meals as I do not think that save money by reducing budget in meals is a rational way after all. Heath is the most priceless wealth in the world, you can do nothing without a healthy body. Food is the source of energy like an enterprise needs money to finance its operation. By the way, RM12 is not a fixed amount and I may spend more or less than this amount.
Printing fees is inevitable. Notes and Tutorial questions are needed for my study. Nevertheless, i try not to spend more than RM 12 per day. I want to achieve 20% of my income (from my parents) are saved for my future investments. I got RM600 from my parents for every month. Rental will be RM160 something, RM 12 per day spending, with the total of RM360-RM400. Not much I can left, RM 40-RM 80 is the maximum saving.
The overspending in this month has caused me no saving. My PC was repaired because of hardisk problem and it is costed RM 245!! Half of my income had lost~~furthermore the printing fees~~
Now I have left RM275.11 in my account, RM 99.95 for my current asset (cash).
Assets Amount (RM) Cash 99.95 Bank 275.11 Saving 1688 Receivable 400 Total 2463.06
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