3 min read I Date: 25 Aug 2022
YOLO defines as you only live once. This idea may mislead people into believing the need to “live life to the fullest” or “live in the moment” without consciously planning their budget. Since there is no way of knowing what will happen tomorrow, people will likely believe that living in the moment gravitates toward more joy.
By doing careful financial planning for the future, one can truly live and enjoy life’s best moments. Here’s how you can kickstart smart financial planning:
- Have a Goal
We all have goals in life – list it down and use that as your motivation to start saving and investing.
- Know your expenses
With various digital apps available at your fingertips, it is easier to track your monthly spending. Evaluate your expenses at the end of every month and identify areas you can cut back on spending.
- Say no to impulse purchase
It is easy to spot something at the store and facilitate a purchase based on impulse. Impulse buying can be fun- well, at least at that moment in time. Before you make another round of impulse purchase, take some time (maybe 24 hours) to evaluate and ponder on the purchase. If the thought of buying the item leaves your mind completely, it is most likely not a necessity.
Start making smart financial choices to benefit your future YOLO moments.
Here’s how you can begin your investment journey with Principal online. Our online investment portal is easily accessible and convenient to use. By completing 4 easy steps, you can begin investing from as little as RM500 using cash or invest as little as RM1,000 using EPF savings.
Learn more : https://www.principal.com.my/en/invest-online
What to do next?
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Disclaimer
Please be advised that investment in the relevant unit trust funds, wholesale funds and/ or private retirement scheme carry risk. An outline of the various risk involved are described in the relevant Prospectus, Information Memorandum and/or Disclosure Document. You are advised to read and understand the relevant Prospectus, Information Memorandum and/or Disclosure Document including any supplemental thereof and the Product Highlight Sheet (if any) before Investing. As an investor you should make your own risk assessment and seek professional advice, where necessary. Among others, you should consider the fees and charges involved. The registration of the relevant Prospectus, Information Memorandum and/or Disclosure Document including any supplemental thereof and the Product Highlight Sheet (if any) with the Securities Commission Malaysia (SC) does not amount to nor indicate that the SC recommends or endorses the funds. A copy of the relevant Prospectus, Information Memorandum and/or Disclosure Document including any supplemental thereof and the Product Highlight Sheet (if any) may be obtained at our offices, distributors or our website at www.principal.com.my. The issuance of any units to which the relevant Prospectus, Information Memorandum and/or Disclosure Document relates will only be made on receipt of an application referred to in and accompanying a copy of the relevant Prospectus, Information Memorandum and/or Disclosure Document. Securities Commission Malaysia does not review advertisements produced by Principal.