With the economic downturn, many people are now choosing “tai chow” or smaller family run food outlets over more expensive cafes or restaurants. However, these places often don’t have set prices in their menu or a proper bill and it is only too easy for them to slip in additional rice, peanuts, tea or towel items even if you did not use them.

So, the next time you eat out, do ensure you check the bill properly before paying. You might find that you have been overcharged!

In an environmental-conscious bid, Malaysian retailers have finally jumped onto the “Say No To Plastic Bags” campaign by charging customers for plastic bags and in some cases, simply eliminating plastic bags altogether.

More than 300 hypermarkets, mini-markets, department stores and other participating shops are charging 20 sen for each plastic bag given out. (source)

Find out how you can be a financially smart and environmentally friendly shopper below!

Carry a reusable bag the next time you go out shopping to put your groceries and purchases in.

20 sen for a plastic bag may not seem like a lot but remember that it will add up especially if you have a lot of groceries. During a recent visit to Carrefour, I noticed that they were not even giving our plastic bags anymore. Instead, a reusable canvas bag came with a 50 sen charge for purchases below RM50 which might encourage you to spend more simply to get a canvas bag just to put your groceries in.

Ikea has also done away with plastic bags totally and you might find it hard to juggle your purchases especially for bulky household items. Why not then pick up their blue reusable Ikea bag for just RM1.90 to reuse over and over again for your groceries, shoes or clothing the next time you go shopping during the 2009 Malaysian Mega Sale? The savings it will bring you on plastic bags in the long run is huge!

So, save money and the Earth by being a smart consumer!

If you’re like most house owners out there, your home is probably being propped up by a hefty mortgage. Banks are clever people and they have built a system where additional payments every month will not help to reduce your loan and interest payments. So, what’s the best way to reduce your mortgage and interest payments?

By prepaying down your mortgage. Read on to understand how it helps you reduce your home loan.

How Prepayments Can Save Mortgage Interest

Prepayments are essentially a lump sum of money that is paid directly into your loan account above the normal monthly installments to offset the principal. When you prepay, your principal amount is reduced and hence, the interest should be reduced correspondingly. Depending on your financial loan terms, you have the option of opting for reduced monthly installments or a reduced tenure as a result of the principal reduction.

Check The Terms Of Your Loan Agreement

However, before you decide to prepay your mortgage, do check your loan agreement to see if there is a clause which prohibits you from making a mortgage prepayment. Most loans will not allow prepayments to be made in the first 5 years of the loan when the interest portion is highest. In some cases, certain loans may not even allow prepayments to be made which works very much against your favor as you have no means of reducing your loan principal amount.

How To Do A Mortgage Prepayment

Before you prepay your loan, ensure that you contact the bank to inform them that you are planning to do a prepayment. Some banks may require at least two to three months notice before the prepayment is made. Be sure to specify that you want the lump sum to be deducted from your loan principal. Without specific instructions, some banks may craftily bank in that amount into your Advanced Payment account instead and you would not have benefitted from the prepayment at all.

Is it wise to prepay your mortgage? Well, it is basically a question of delayed or instant gratification and your personal view on loans. If you believe that the excess money you have now might earn you a better interest than what your mortgage interest rates are, then consider investing it. Otherwise, dumping it into your mortgage will help you be debt-free earlier!

Home loans and mortgages are never easy to understand. Even the monthly statements provided are terribly complicated, however, you should always take some time to understand and analyse your monthly statements to know how your loan is being managed by the bank. Read on to understand more about advanced payments and why they do not help in reducing your principal amounts.

Mortgage Advanced Payments Do Not Reduce Loan Principal or Interest

I always thought that additional payments directly to your loan account, above the amount set by the bank, will automatically go towards reducing your principal and interest payments. However, I recently discovered that the additional payments I was making was actually going towards a “suspense account” held by the bank which they use as a buffer for any late payments.

My principal and interest were not getting reduced at all!

The banks will often tell you that it will reduce your loan tenure over time. However, your loan will only be reduced towards the end of its tenure with the excess money you had paid over the years from the “suspense account”. Unfortunately, the end of the tenure is when the interest is lowest and hence, you would not have saved anything at all.

So, do be careful of advanced payments to your loan account and do not make the mistake of thinking that your principal and interest payments will be reduced.

Do you find yourself arguing more with your partner over money in this financial crisis? Even if you can both continue to meet your commitments and keep your jobs, the crisis has heightened people’s sensitivities about money and suddenly, you realise that perhaps your spouse’s financial goals and yours are not aligned at all!

If you find that your spouse is a spendthrift and you is a tightwad, don’t worry. Opposites attract and as much as the tightwad would hate to admit, they do admire the frivolousness of the spendthrift as much as the latter admires the former’s discipine to money. However, don’t let money stress affect your marriage. Instead, learn some good tips to manage money in your marriage below.

Create Financial Goals Together

It is one of the hardest thing to do but take some time to sit together when you are both in a good mood to discuss your financial goals. It isn’t easy especially if both have conflicting attitudes to money but try to keep an open and objective mind. Think of short term and long term goals from 1 to 10 years, taking into account any children or additional commitments you might have in the period of time.

Financial Aspects To Consider

When discussing your financial goals, think about whether you are both working, how much each other is making and how much will each of you contribute to the family spending. Be open about your long term plans, e.g. a wife who intends to quit when she has a child should discuss it with her husband to ensure he is prepared financially for it when the time comes.

Talk About Your Spending Habits

Tightwads hate spending a cent of their hard-earned money while spendthrifts don’t think twice about forking out the cash for something they like. It isn’t easy to understand what brings joy to your spouse if you don’t have similar spending behaviors but it helps to start talking about how you will approach joint financial decisions or large financial commitments such as a property or investments.

“I don’t care whether you’re thrifty or you’re silly with your money, or waste money, the important to thing is to get that out on the table right from the beginning,” said Jeff Yeager, author of “The Ultimate Cheapskate: Road Map to True Riches.” Yeager, who believes being a cheapskate is “a real virtue,” has been married to his wife, who shares his frugality, for 26 years. (link)

Talking about money is not an easy subject especially when it is with your spouse who might have a totally different view from you. Nevertheless, it is important to start these financial discussions, however painful they are, to ensure your marriage starts on the right foot financially.

Marriage is the start of a journey together not only as man and wife but a shared life in the form of joint expenses and joint financial decisions.

Money can be an extremely sensitive topic so how do you decide who should pay the bills and marriage expenses without starting World War 3 even before the wedding? Read on for some tips on how you can ease into married life finances!

Discuss Financial Expectations

We live in an equal world but sometimes when it concerns money, women still prefer for the man to be paying the bills. After all, the man’s historical role is to provide for his family. If you believe that to be so, be sure to discuss this expectation with your spouse as he may have been expecting you to contribute partially to the wedding or household expenses if you are also working.

Should You Have A Joint Bank Account?

A joint account is one where both parties can contribute and draw from. Having a joint account requires a high level of trust between husband and wife to ensure the money is not wrongly used by one party without the other’s knowledge. While marriages should always be built on trust, don’t fel obliged to have a joint account until you are both comfortable with the idea. Alternatively, maintain separate accounts but have a small joint account just for household expenses.

Don’t Control Finances

It is important to remember that you were both separate individuals with different spending habits before you got married. She may be used to buying designer handbags or going for weekend spas when she was single or he may have enjoyed going for golf games or spending on little gadgets. Whatever the indulgence, try not to immediately control your spouse’s spending habits if it is not similar to yours. Instead, talk about it and align your common financial goals but still maintain a percentage of your salary as separate “indulgence accounts” so each of you may spend without having the guilt factor!

So, do share.

Ladies, do you expect men to pay for everything or will you contribute if you are a working woman?

Men, will you expect your wife to contribute to some of the household expenses or will you be a man to shoulder all financial expenses? Men, will you mind if your wife wants to buy a branded handbag?

Papa, Daddy, Dada, Dad…he’s that one special man in your live that their sons look up to and their daughter’s first loves. This Sunday is Father’s Day so let’s show that Superhero in your life just how much you love him.

It is only too easy to buy Dad an expensive gift or take him out for an expensive meal in a nice restaurant. But if you are feeling a little poor at the end of the month, do remember that some of the best things in life are free so read on below for tips on how you can celebrate Father’s Day for free or almost-free!

Make Daddy A Hand-Made Father’s Day Card

A DIY Father’s Day card may not look as beautiful as the glossy cards you buy. However, as simple as it looks or unpoetic the words may be, the effort you  have taken and the heartfelt words it contains makes it a unique Father’s Day card that will definitely touch his heart!

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Spend Time With Dad

Time spent together costs you nothing but means so much more than anything money can buy. This Father’s Day, clear your busy calendars and take the time to know this man who works hard to give you the things you want and loves you enough to sacrifice anything in the world. Regardless of how old you already are or whether you are married with families of your own, you will always be your Daddy’s Little Girl or Daddy’s Boy and he will certainly enjoy this quality time with you.

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Enjoy Dad’s Favourite Hobbies

Your dad may be a golf junkie whilst you simply can’t understand the game! Or he may love a quiet afternoon with a good book while you prefer the excitement of shopping malls. Whatever your dad’s hobbies are, join him and try your hand at them. It is a great way for you to bond with him and who knows, you might find yourself loving it too!

Tell Dad You Love Him

It is sometimes hard to tell Dad you love him especially if he is a stern dad or if he has let you down in some way. But hugs, kisses and “I Love Yous” are the cheapest and most effective way to let someone know you love them and are constantly thinking of them. So this Father’s Day, hug your Dad and tell him how much he means to you. It will absolutely make his day!

Father’s Day is just one day in a year but that doesn’t mean you can’t do all these great things with him any other time of the year. It costs you hardly anything but is priceless in cementing the bond and love between father and child.

Happy Father’s Day to all daddies out there!  

What does RM1 get you today?

It used to buy a plate of noodles in your childhood but now it can barely buy you a handful of sweets!

However, for a limited time only, RM1 will actually buy you meals and snacks at Sunway Pyramid! Read on below on you can enjoy a delicious meal or snack for a whole lot less!

Food Promotions At Sunway Pyramid

Throughout June, Sunway Pyramid’s Asian Avenue Food Street will be offering food and snacks from nine outlets for just RM1! All you have to do is obtain a book of coupons from the concierge on Saturdays and Sundays or grab the RM1 Deals flyers from the promoters to enjoy a meal for less than RM10!

If you think only snacks are offered, you will be pleased to know that full sized meals such as Spaghetti and Tom Yum are on the menu too.

The RM1 meal deals are:

• Roti Bakar set from Station Kopitiam
• Seafood Taufu skewer from Yokomon
• Belgian Fries from Pommes Frites
• Braised Toufu/ Braised Egg / Bubble Black Tea from Formosa.
• Seafood Tom Yam Soup from Gasoline
• Spaghetti with Chicken Sausage from RM Cafe
• Peanut or Shredded Chicken Porridge from Porridge Time
• Handmade Oyster Mee Sua from Shihlin
• Love In The Sky, a colourful strawberry and mango creation, from The Snowy Dessert outlet

The only catch is that deals are only available on Wednesdays.

So hurry over to Sunway Pyramid this weekend!

Its the school holidays! If you are wondering where you can take your family without breaking the bank, why not take a short trip down south to take advantage of Singapore’s fantastic Half Price Singapore Surprise specially for Malaysians?

The Great Singapore Sale 2009

The Great Singapore Sale is back and its better than ever! Like last year, Malaysians get to enjoy a whooping 50% off attractions or pay the RM equivalent for Singapore’s top tourist attractions! Can’t wait to find out what they are? Read on below for a complete list of the attractions you simply cannot miss!

Half-Priced Singapore Attractions

Singapore Zoo And Safari Attractions

• Singapore Zoo – Visit the amazing Singapore zoo for rock bottom prices! Adults: RM18, Child (3-12 yrs old): RM9.
• Singapore Night Safari – Don’t miss the unique Night Safari. Adults: RM22, Child (3-12 yrs old): RM11.
• Jurong Birdpark – Catch feathered friends at the finest bird park in the world. Adults: RM18, Child (3-12 yrs old): RM9.

Discover Science at Singapore Science Centre

• Science Centre + 40 min IMAX Movie - Rediscover science and catch a movie on the 5-storey high IMAX screen. Adult RM16, Child (3-12 yrs old) RM8.
• Science Centre + Snow City – Or chill out in sub-zero temperatures! Adult RM18, Child (3-12 yrs old) RM15

Ultimate Sentosa Island Package

• 7-in-1 Sentosa Island Package – Ride a Segway, a virtual rollercoaster and a mini train, tour the Merlion and have your photo taken, fight in a virtual shoot-out and enjoy the Songs of the Sea multi-sensory show. Adult/Child RM91 

Singapore Excursions You Cannot Miss

• Captain Explorer DUKw Tour – Go from land to water in an authentic revamped WWII amphibious boat. Adults: RM29.90, Children: RM20.65.
• City & Cultural Open Top FUNVEEtour – Explore Singapore in a fun open-roof top bus. Adults: RM19.90, Children: RM15.90.
• TOPless HiPPO City Sightseeing – Unlimited hop off and hop on all across Singapore. Adult RM23, Child (3-12 yrs old) RM13.
• HiPPO River Cruise – Check out Singapore’s newest theme tour attraction at the Singapore River. Adult RM15, Child (3-12 yrs old) RM9.
• Original Singapore DUCKtours – Unique land and sea touring adventure on the genuine Vietnam War craft. Adult RM33, Child (3-12 yrs old) RM17, Toddler RM2.
• Singapore Cable Car – Enjoy exhilarating cable car rides. Adult RM18.90, Child RM9.50
• Singapore Flyer – Ride the famous Singapore flyer. Adult RM29.50, Child S$20.65

More details and attractions available here.

There’s no better time to visit Singapore! However, do remember some smart holiday tips before you start your trip.

Happy Holidays!

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Bus and taxi fares are set to soar 30% to 50% very soon, as early as next month!

Nazri said the starting fare for taxis would increase from RM2 to RM3 for the first kilometre and from 10 sen to 13 sen for every subsequent 150m.

He said that when a taxi was stationary, such as during a traffic jam, the proposed rate was 13 sen for every 27 seconds, more than a 100% increase from the 10 sen for every 45 seconds.

Although Nazri declined to reveal the proposed fare increase for buses, sources indicated that the rise would be around 30%. (source)

Is this fair? Read on below.

Clear Signs of Inflation

The majority of the public who take public transport are often those who can’t afford to drive and definitely cannot afford to fork out an additional 50% more for their fares to take them from their workplace and back.

With these hikes, their meagre salaries will be squeezed much further as inflation once again rears its ugly head in an already depressed economy.

Increased Fares For Terrible Service

If you have recently taken the public transport, you will realise that we will soon be paying increased fare for very substandard services.

Our buses are all dirty and wheeze black smoke everywhere on the roads. They have probably not been serviced for more than 10 years and the drivers are often reckless, weaving in and out on the roads and stopping wherever they feel like it. Our buses do not even run on a schedule so be prepared to wait for ages to catch your bus under dirty and poorly maintained bus stops.

Taxis are not better with rundown Protons servicing KL and errant taxi drivers who refuse to use the metre and demand exorbitant rates instead. Safety is another big issue as too many molest and rape cases by taxi drivers to their female passengers have gone unreported.

Before any hikes are proposed, the Government should seriously look into improving these services and giving the public their money’s worth before stealing from the poor man on the street. Perhaps we should start preparing ourselves for train fares and petrol hikes next!