10 Financial Lessons You Could Have Learned from Your Mother

As we grow older, we tend to look back on our childhood and reflect on the lessons we learned from our parents. While we may remember the rules about finishing our vegetables or cleaning our rooms, we often overlook the financial lessons that were imparted to us.

Mothers, in particular, are often the ones who take charge of the household budget and teach their children about money management.

In this blog post, we will explore 10 financial lessons that you could have learned from your mother. These lessons are simple yet effective, and they can help you make better financial decisions that will benefit you for years to come.

From saving money to investing wisely, these lessons will equip you with the knowledge you need to achieve your financial goals. Whether you are just starting out in your career or you are a seasoned professional, these lessons are relevant to everyone.

So, let's take a moment to reflect on the wise advice that our mothers gave us and see how we can apply it to our financial lives today.

Here are potentially 10 of the best financial lessons given by a mother (or, your mother 👄):

Interest Rate Hike in Malaysia: Who Wins and Who Loses?

As the global economy continues to reel from the impact of the COVID-19 pandemic, Malaysia's central bank recently announced a surprise interest rate hike. This move, aimed at curbing inflation and stabilizing the currency, has left many wondering who will benefit and who will suffer as a result.

The interest rate hike will undoubtedly have far-reaching implications across various sectors of the Malaysian economy, affecting individuals, businesses, and investors alike.

While some may view this decision as a positive sign of economic recovery, others may worry about the potential negative repercussions. As such, it's important to take a closer look at the potential winners and losers in light of this recent development.

This blog post will examine the impact of the interest rate hike in Malaysia and the effects on different industries, such as banking, real estate, and consumer goods, and the impact on the average Malaysian citizen.

Bank Negara Malaysia's interest rate hike has winners and losers, and they can be summarized as follows:

Using your EPF Account 2 to secure loan? What is FSA2 and can I apply for it?

On 9th March 2023, PM Anwar Ibrahim, who is also the finance minister, announced that the government is deliberating to greenlight the use of EPF savings as collateral for emergency loans, following repeated calls from the Opposition to allow further withdrawals.

Anwar pointed out that this would only apply to those who are really struggling with their financial circumstances.

Fast forward to today (3 April 2023), the Employees Provident Fund (EPF) announces that it has finalised the mechanism as well as the terms and conditions for the use of Account 2 savings as support for loan applications.

What is Account 2 Facility Support?

(FSA2 = Fasiliti Sokongan Akaun 2)

Do you know the 4 listed companies that signed MOUs in China?

It was a fruitful 3-days China trip made by our PMX DS Anwar Ibrahim which concluded with Malaysia having secured a record RM 170 billion in investment commitments from China.

This is a result of 19 memorandum of understanding (MOU) between businesses in China and Malaysia. "This is historic. It is good for Malaysia and the future," said the Prime Minister at the Malaysia-China Business Forum, which was attended by 1,000 business leaders from both countries.

AXA Affin + MPI Generali = GENERALI MALAYSIA

In the local insurance industry, it was glad to know that Generali has acquired a controlling majority in AXA Affin joint ventures in Malaysia and 100% purchase of MPI Generali Insurans Berhad.

So, on 1st April 2023, the businesses have been integrated under the launch of a single, unified brand - Generali Malaysia, one of the largest general insurers and emerging life insurer in Malaysia.

Who is Generali?