I guess that’s what has been holding us back from reaching the goals we’ve set- excuses. They are those little stories we made up each time we are forced to make decisions. It’s almost always more convenient to make up these stories and then to delay doing what needs to be done.

Unless we have a way to ‘automatically’ destroy these little stories before they come up.

A young friend of mine, who just got his first job after SPM, was able to save RM500 a month. And the best part is, he barely earns more than RM1,500 a month. That’s almost 35% of his salary! And I asked him, “How did you do it?”

He answered, “I make sure that I transfer the money once I get my pay before anything else. I just don’t think about it after that.”

A very simple, yet effective plan.

A friend of mine recently brought up the issue of starting one’s own business and the risks involved in it. He pointed out very bluntly that how most people are so focused on the risky side of losing their capital when starting a new business that they forgot that there’s actually an upside to it. Yes, indeed, you can and should be making profit as long as you learn the ropes and do not repeat the same mistakes over and over again.

Okie, I am not going to oversimplify the struggle of starting businesses lest I get dozens of hate mails flying my way from entrepreneurs.

His next point was even more interesting, that we are more willing to go into the bank and put a down-payment of RM25,000 on an automobile and take up a loan that last for 7 years or more. And the best part is, we know very well that the automobile is only going to go down in value the moment you step on the gas pedal. And yet, of all the wisdom that we’ve learn about money and investment, we simply gave up our opportunity cost and went ahead and ‘procure’ these depreciating assets anyway.

And that RM25,000, if it was used to fund a simple business idea, might potentially show some results 2-3 years later. And even if you are going to lose it, you would definitely learn something worth that amount, if not more. Unless of course, you are into get-rich-quick schemes.

But for the most part, a down-payment for a car would often be enough to start a little start side venture, don’t you think?

An investing workshop by CIMB, thanks reader Jasmine for the heads up!

We are pleased to announce that there will be a workshop entitled Basics of Stock Investment by Ms. Pauline Yong, organised by CIMB Investment Bank Berhad.

Speaker’s profile:-
Pauline Yong is an author of two investment books entitled “I Love Stocks” and “Fear and Greed”. She possesses many years of experience in the stock market and also a freelance columnist for Nanyang Siang Pau.

This workshop will cover the following topics:-

- Personal Financial Planning
- Value Investing
- Fundamental Analysis
- Annual reports
- Financial ratios
- Technical Analysis
- Price volume analysis
- Price charts
- Technical indicator
- Market Psychology

Workshop details:

Don’t miss this workshop to learn more about the fundamentals of investment and understanding the stock market. You are encouraged to bring along your personal calculator to this workshop.

For registration, please email events_registration@cimb.com or call 603-7717 3318 not later than 19th November 2010 (Friday).

*Registration is on a first-come-first-serve basis.

Meshio.com is please to bring you one of the most sought-after coach in the financial planning industry- Mr Yap Ming Hui. If you frequent the ‘Personal Finance’ section of local bookstores, you would most likely already ‘met’ Mr Yap Ming Hui from the bookshelves, but alas, nothing beats meeting the real person and you also get to learn the latest financial planning techniques from the man himself.

Mr Yap is also a regular Financial Advisor on NTV7′s ‘The Breakfast Show’ (Tuesdays from 8.45 am – 9.15 am)

So, don’t miss this chance to upgrade yourself financially!

And to all Meshio.com readers, you get 10% off the normal ticket price. So, let me do the math for your here: RM98 – 10% = RM88.20. Offer is only valid if you are reading at Meshio.com and fill up the form below. Valid till my generosity runs out :-)

Here goes the details of the seminar…

‘The New Rules of Money Management’ is a ½ day financial seminar by renowned financial coach and advisor, Yap Ming Hui.

The financial world has changed so much over the last decade. In today’s ever-shifting financial environment you cannot afford to manage money the way generations before us have. The OLD money management rules that used to work are now obsolete and no longer viable. To realistically achieve financial freedom in today’s environment, you need to learn and apply the NEW rules to your money management.

To date, Yap Ming Hui has advised over RM 800 million of wealth portfolio for Malaysia’s multi-millionaires and business owners. He is the top selling author of 5 personal finance books including MAX WEALTH, THE FAMILY OFFICE: The Super Rich ‘s Secret to Wealth Maximization, and the latest Roadmap to Financial Freedom: The Ultimate Guide to Financial Freedom. Yap was a guest speaker on NTV7’s The Breakfast Show, Financial Freedom Minutes aired every Tuesday for 9 weeks running and has his own columns in New Straits Times, Sin Chew Daily and Newman magazine.

The aim of this seminar is to educate financial literacy to participants to learn the essential skills of money management and financial comprehension needed to navigate in today’s complex world of financial products and services to achieve one’s financial goals. Mr Yap believes that Financial Freedom is attainable if you know how to optimize what you have got now, for your future.

WHY IS IT IMPORTANT TO ATTEND?

This is a “How To” seminar which will empower you to understand your personal finances better, and manage it from a holistic approach. You will also learn practical and valuable tips for retirement planning, investment planning, financial security, unit trust, single household income and more during the seminar.

Details of the ½ day seminar as below:

THE NEW RULES OF MONEY MANAGEMENT
Date: Saturday, 27 November 2010

Time: 9.30 am -1.00 pm (registration at 9.00am)

Venue: D’Rapport Auditorium, Off Jalan Ampang, Kuala Lumpur (behind Gleneagles Hospital)

Seminar Fee: RM 98 per person only! (first 50 registrants will get a FREE copy of “Roadmap to Financial Freedom” book worth RM 39.90)

Programme Highlights

The NEW Rules of Money Management: Why you can’t manage your money the way previous generations have?

• Segmental vs. Holistic approach to money management
• How to build your own holistic money management plan?
• Why ROI is not the only factor to your financial freedom?

Making Better Money Decisions Using a Holistic approach:

• Retirement Planning
• Family Financial Security Planning
• Children’s University Education Planning
• Home Purchasing Planning
• Investment Planning
• The TRUE cost of money management mistakes
• Interactive Q & A session with Yap Ming Hui

Disclaimer: Meshio.com does not have any ownership in Yap Ming Hui’s seminars and workshops. Meshio.com does not guaranty or make any warranties, express or implied, as to the quality of services or products that may be provided by Yap Ming Hui. You are advised to contact the owner of www.yapminghui.com for further information.

You heard me right, you get to win an iPod shuffle if you start a trading account with Jupiter Securties, terms and condition applies.

Get your chance to win now by clicking here: Start an Online Trading Account with Jupiter Securities

Oh yeah, did I mentioned that this promotion is only valid for Meshio.com readers?

A new breed of Critical Illness insurance product launched by Great Eastern, where a portion of the critical illness protection fund is paid in advance, according to severity of the disease.

Via www.LifeIsGreat.com.my:

The first plan in Malaysia that pays at the early stages of critical illness.

With continuous medical advances and emphasis on periodic health screening, early detection of a critical illness is promising and may save your life. But will your finances be there to see you through the early treatment of a critical illness?

Smart Early Payout CriticalCare is designed with you in mind. It’s a unique investment-linked insurance rider, which pays upon early diagnosis of a critical illness, not when the illness has become more severe as with most insurance plans.

Early Payout, Finances Saved
When your life threatens to come to a halt, you need to bounce back fast. With early payouts to provide for early treatments, you won’t have to put off your other life plans should a critical illness occur. More importantly, you do not have to be financially burdened. The lump sum paid may be used at your discretion choose to use it for medical treatments or therapy, medication or even to settle financial commitments.

With the advantage of early financial support from Smart Early Payout CriticalCare, you can focus solely on treatment and recovery so that you can get back on your feet again.

Multiple Claims Across Multiple Critical Illnesses
The most thoughtful thing is, Smart Early Payout CriticalCare allows for multiple claims for different critical illnesses or across severity levels within the same critical illness. Furthermore, you will not have to wait in between submission of claims should your condition deteriorate to a more advanced stage.

There are no limits to the number of critical illness conditions that you can claim against, as long as the pre-defined conditions are fulfilled and the sum of claim payouts are within the rider’s sum assured limit.

Note: Terms and conditions apply.

An example of how it works:
A 30-year old male is covered by Smart Early Payout CriticalCare with a sum assured of RM300,000. He is diagnosed with early stage cancer at Severity 25 and he makes a claim. Six months later, he suffers a heart attack at Severity 25 and another claim is made. Two months after the second claim is made, he suffers a heart attack at Severity 50 and makes a claim. Since the three claims did not reach the full sum assured, he will continue to be protected. If his condition deteriorates, he can make further claims on the remaining sum assured.

An illustration of his claim payouts is as follows:

*The remaining sum assured coverage is based on the assumption that the coverage for the investment-linked insurance plan, Critical Illness Benefit Rider and Smart Early Payout CriticalCare is the same.

Added Protection with Unique ‘Buy Back’ Option
Usually, if a critical illness claim is made, it will be difficult to obtain new insurance cover, depriving your loved ones of financial aid should anything unforeseen happen to you.

The good news is, Smart Early Payout CriticalCare comes with a unique ‘Buy Back’ option to give your loved ones the extra financial protection at the time they may need it most. With this option, you can buy back the death benefit from selected insurance plan offered by the Company, up to the maximum sum assured of the rider. This means that you’re still covered even after a full payout of critical illness claims has been made under Smart Early Payout CriticalCare.

Note: Terms and conditions apply. Smart Early Payout CriticalCare is a unit deduction rider attachable to selected regular premium investment-linked insurance plans and must be attached together with Critical Illness Benefit Rider.