- 7/3/2025
You’ve just received a salary bump—yay! But now what? Do you save more, splurge a little, or level up your lifestyle? These decisions might seem small now, but they can shape your financial future in a big way.
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MusicTranscript
00:00I will be a almost 100 millionaire in 50 years time.
00:04There's a 5% chance of that.
00:05Yeah, 5% chance of that happening.
00:06I like those all.
00:07In 2075.
00:08I first had a look at them in 2019.
00:11And like every couple of months.
00:122019.
00:132019.
00:14We're in 2025.
00:14Yes, exactly.
00:16Common thing about people who do this is that they save, save, save, save, save.
00:20And then they just don't know how to spend anymore.
00:22I guess for you, if you're talking about sneakers.
00:24I don't think you'll be regretting like, you know, sneakers.
00:26No, of course not.
00:26Yeah, but what you want to avoid is these people, they tend to, for example, their friends want to go on holiday.
00:32And they're like, no, I'm saving for my retirement.
00:39What's up, guys?
00:40Welcome back to The Money Goal.
00:41My name is Ymir and I have Yasmin again.
00:44Hi, Yasmin.
00:46What are we talking about?
00:47So recently, I had a little increase in my salary.
00:55Okay.
00:56So basically, thank you.
00:58Thank you so much.
00:58I think it was well-deserved.
01:00For sure.
01:01But yeah, no, I was wondering, I guess, like, what do I do with it now?
01:06Okay.
01:06How, I mean, what do you feel like doing?
01:08What's your first instinct?
01:09My first instinct?
01:10Yeah.
01:12I should probably save it.
01:13But that's the thing.
01:14I mean, we've kind of like established this in like the previous, like the first episode that like I ever did with you.
01:20Yeah.
01:21Which is that I am a fantastic saver.
01:24Okay.
01:24That's good.
01:25I keep the money and I mean, I save so much to the point that I don't actually do anything with it.
01:31Okay.
01:31Okay.
01:31So basically, apart from saving, what should I be doing?
01:35Okay.
01:35Okay.
01:36So I think a lot of people, I mean, this is natural progression, right?
01:39As you work, especially in our 20s, we probably started off very low.
01:42And then our salary starts to really ramp up, especially at our age now, late 20s, early 30s.
01:48But at least you don't have the problem which a lot of people have, which is lifestyle inflation.
01:52Yeah.
01:52That tends to happen where, you know, you earn more and you're like, you know.
01:58I mean, no, I do.
01:59I do feel that sometimes.
02:03But like, again, I'm the kind of person like, I think twice, three times, four times before I buy.
02:09But are you talking like big purchases or how about like meals, coffees, like avocado and toast?
02:16Avocado and toast, my matcha lattes.
02:19Exactly.
02:21I mean, I don't know.
02:24I think it's because like I just don't spend in general.
02:27I don't make big purchases.
02:29So that's why.
02:30Okay, sure.
02:31If anything, you know, maybe I'm buying a tiny bit more makeup or I'm buying a tiny bit more skincare.
02:37Yeah, I think it's, it doesn't really tend to be the big purchases.
02:42I think people don't.
02:43Yeah, it's like I'm not buying like a new iPad.
02:45You know, every week.
02:46Some people on the extreme end, they get a salary bump, immediately they buy a new car.
02:50They're like, oh, I have an extra thousand ringgit.
02:52I'm going to buy a car that's.
02:52Oh, couldn't be me.
02:54Yeah, yeah, yeah.
02:54Couldn't be me.
02:54That is the extreme end.
02:56But I think a lot of people, what they don't notice are the smaller purchases.
02:59All right.
03:00But so initially, a 20 ringgit meal is expensive.
03:05You go once in a while.
03:07But as slowly as your salary goes up, 20 ringgit meal becomes, that's not so bad.
03:11Not so bad.
03:11That's not so bad.
03:11And then you do it again and again and again.
03:13Your breakfast becomes more expensive.
03:14Your dinner becomes more expensive.
03:15Everything becomes more expensive.
03:16I think that's what people tend to fall into.
03:18Yeah.
03:19As their salary goes up.
03:20So the big problem.
03:22Okay.
03:23First of all, I think it's okay for you to spend more as your salary goes up.
03:26No, of course.
03:26I think it's completely normal.
03:28I think it doesn't make sense that you want to maintain your spending level when you're
03:34earning 3,000 ringgit versus earning 10,000 ringgit.
03:36I think it doesn't make sense.
03:36You need to enjoy yourself a bit.
03:39Right?
03:40Sure.
03:40Yeah.
03:41Yeah.
03:41I really think that personal finance, even if you want to save as much money as possible,
03:46invest as much money as possible, we don't want to overdo it to the extent where
03:51our quality of life is deteriorating.
03:54Right?
03:54I think this is a more balanced view.
03:56This is a more balanced personal finance view, I think.
03:59So you do want to spend more.
04:00The tricky part is just not overdoing it.
04:03Yes.
04:03All right?
04:04Yes.
04:04Yeah.
04:04So this is why I think my favorite way of saving is using a percentage of your income.
04:12Okay.
04:12So let's say now you're earning 4,000 ringgit, let's say.
04:16And you've set yourself, okay, I want to save 20% of my income.
04:20So 20% of 4,000 will be 800.
04:22I'm sure you got that.
04:23Yeah.
04:24Yeah.
04:24And when your salary goes up to 5,000 ringgit, you keep the 20%, which means now your saving
04:29goes up to 1,000 ringgit per month.
04:30Yeah.
04:31Yeah.
04:31So I think the reason that I really like that approach is that as your salary goes up, your
04:37savings scales together with it.
04:38Yeah.
04:39Right?
04:39Instead of, you know, thinking, oh, you know, how much should I save now?
04:42Should I spend more?
04:43Should I save more and stuff?
04:44Just increase it linearly.
04:46As your salary goes up, your savings goes up by a similar percentage.
04:49But you will still have the extra money, which I think by all means, people should spend it.
04:54People should go on holidays.
04:55People should buy your makeup.
04:57It's fine.
04:57As long as you're saving that extra money as your income goes up, I think you'll be good.
05:02So, yes, you know, I always have this, like, again, because I'm very, what's the word?
05:08I would say conservative.
05:09Yeah, I am very conservative with my spending.
05:12So, for me, like, when my salary does increase, like, it doesn't really, like, impact the way
05:20that I feel about my spending.
05:22Like, I don't feel like, okay, you know, then I'm going to go, like, I don't know, go to
05:32Malaka for the day or something.
05:34I don't feel like that.
05:35I just feel exactly the same.
05:37Okay.
05:38Maybe it's because, like, I just don't, I don't, I don't really have that feeling of, like,
05:42oh, I really want to reward myself.
05:44Okay.
05:44I just don't.
05:46You don't have the urge.
05:46I know.
05:47I don't have that urge whatsoever.
05:50But at the same time, yeah, you know, like, yeah, if I wanted to spend that money,
05:55like, it really, I still, I still think, I still think a lot before actually going ahead
06:01and doing it.
06:02And most of the time, like, I don't.
06:04I literally, like, I'll literally share, like, a tiny story.
06:06I've been sitting on these sneakers that I've wanted.
06:09I first had a look at them in 2019.
06:13Okay.
06:14And, like, every couple of months.
06:152019?
06:162019.
06:17We're in 2025.
06:18Yes, exactly.
06:19So, every couple of months, I will open up a tab on my laptop.
06:23Yeah.
06:23I'll look at it.
06:24And then you close it.
06:25And then, like, I'll, you know, sit on it for a couple of weeks.
06:29And then I'll close it.
06:30And then a couple of months later, I'll do the same thing.
06:32Okay.
06:33And so, I first started looking at it in 2019.
06:36It's now 2025.
06:37It's been big fears.
06:37Yes.
06:38Okay, just out of curiosity.
06:39So, what's your thought process?
06:40What makes you not, or what makes you put off the purchase?
06:44I'm constantly weighing out whether or not it's worth it to me.
06:48So, like, okay, just simple, right?
06:51Like, a pair of shoes.
06:52Um, it's like, do I need those shoes or do I want those shoes?
06:57Most of the time, I don't need those shoes because I have other sneakers.
06:59Yeah.
07:00So, technically, I just want them.
07:03Okay.
07:04Okay, I've got some excess, you know, in my bank account at the moment.
07:10I could buy it if I wanted to.
07:12Yep.
07:13Which I did.
07:13I wanted to.
07:14Okay.
07:15But, it just didn't feel right.
07:18I don't know.
07:19I felt like, what's the point if I have, like, five other pairs of sneakers?
07:23Yeah.
07:24Okay.
07:24I think you're, like, on the other extreme of personal finance.
07:28So, yeah, the more common extreme is people spending too much, right?
07:31I think a lot of episodes are people overspending.
07:32Impulsive buying.
07:33Exactly, yeah.
07:34I don't impulse.
07:35Yeah.
07:35So, to me, I think everything should be in balance.
07:39I think everything should be in balance.
07:41But, having said that, for you, as long as it's not causing you any, like, let's say,
07:46harm, although that's the right word, I don't think it's an issue.
07:49But, having said that, you've got to keep in mind that a lot of people in the personal
07:54finance space, so, there's this community called FIRE.
07:56Have you heard of it?
07:57Financial independence, retire early.
07:59I only know FIRE Festival.
08:01Sorry.
08:02No, not that one.
08:03Sorry.
08:03Not that one.
08:04So, these are people who are extreme hardcore savers.
08:07Okay.
08:07And they consciously make the decision to save, right?
08:10Okay.
08:10And they save, like, 70-80% of their income.
08:12And the only reason they do it is because they want to retire early.
08:14They want to retire, like, in their early 40s or late 30s, right?
08:18One common thing about people who do this is that they save, save, save, save, save,
08:23and then they just don't know how to spend anymore.
08:27Once they're older, they don't know how to spend anymore.
08:29Once they've made it, they've hit their retirement number, they just don't know how
08:31to spend.
08:32And they realize that, oh my god, I have, like, sacrificed everything for the last 20 years,
08:37and now I'm not even happy, right?
08:39I guess for you, if you're talking about sneakers, maybe, I don't think you'll be
08:43regretting, like, you know, sneakers.
08:45No, or it's not.
08:45Yeah, but what you want to avoid is these people, they tend to, for example, their friends
08:50want to go on holiday, and they're like, no, I'm saving for my retirement.
08:54Or, you know, it's the parents' birthday or something, and they're like, oh, you know,
08:58I don't want to eat somewhere so expensive because, you know, I'm on this journey.
09:00So I'm going to, I'm going to, like, cheap out, and we go, like, a mama or something.
09:04I think these are the things that people tend to really regret.
09:07So I think for people who are like you, who are extreme savers, these are the only things
09:11you need to keep in mind.
09:12You don't want to overdo it to the point where you will regret it in the future.
09:16But I would say purchases, I don't know.
09:19I don't think I've heard of anyone in their 50s saying, oh, I should have bought those
09:21Air Jordans.
09:22Yeah, exactly.
09:23I don't think I'm going to be regretting it in, like, 30 years' time.
09:25But, like, with that being said, I'm not stingy.
09:28I'm only stingy when it comes to myself.
09:30Okay.
09:30So I don't like, yeah, I don't like spending, not I don't like, I don't really think to spend
09:37on myself.
09:38Okay.
09:39But when it comes to other people.
09:40You're fine.
09:41I am totally fine.
09:42Okay.
09:43So, like, for example, okay, let's just go back to this, like, for a second.
09:46I have a long shopping cart.
09:47You have a long list you want me to fulfill?
09:50Okay, cool.
09:51Send me the bill.
09:53So, okay, for example, like, I'll think about the sneakers, right?
09:57Like, I'll basically, like, think about, like, okay, if I don't buy those sneakers, that
10:04means I can keep that money that I would have bought those sneakers with for something else.
10:08Yeah.
10:09So that's why, like, usually, if I'm spending, like, on my friends or, like, my family, for
10:16example, or, like, my partner, I go big.
10:20Like, for me, I go big or I go home.
10:22Okay.
10:23Yeah.
10:23I'm the kind of person I, whatever they want.
10:28Because I've saved so much.
10:29Okay.
10:30Because I don't spend on myself.
10:31I'll usually be able to fork out enough to get whatever it is that they want.
10:36That's a lot of language.
10:37Yeah.
10:37Yeah.
10:38That is actually one of my love languages.
10:39Okay.
10:40Give giving.
10:40So, yeah.
10:42And, like, I do think about, like, you know, saving for, like, a rainy day.
10:48Yeah.
10:48You know, that kind of thing.
10:49Yeah.
10:50And, like, thinking about, okay, if I don't get to spend now on everything that I want,
10:56I definitely will, like, in 10, 20 years' time.
11:01Yeah.
11:01So.
11:02I think, honestly, it's fine.
11:03I think, honestly, it's fine.
11:04As long as it's something that you wouldn't regret in the future.
11:07Like, if you really think about it.
11:08If you don't think you'll regret spending on other people versus yourself, then I think
11:11it's fine.
11:11Yeah.
11:11Because, technically, you are still spending money.
11:13It's just that you're spending on other people.
11:14And if that makes you happy, then what's the point of, like, doing what other people
11:20do?
11:20Yeah.
11:20Like, buying the Air Jordans.
11:21If that's not going to make you as happy as buying me the Air Jordans.
11:25Yeah, exactly.
11:26Honestly, like, on God, I promise you, it probably would make me happier to buy you those Air Jordans
11:32instead of buying myself those Air Jordans.
11:35Like, I'd be like, oh, okay.
11:36But it probably made me happier seeing you happy.
11:39Right.
11:39Getting those Air Jordans.
11:40Yeah, I mean, if that's you, that's completely fine.
11:42Yeah.
11:42As long as, again, you're not sacrificing your savings, your investments, if you have
11:46your emergency funds settled.
11:47Yeah.
11:48I think as long as you have all those things still in check, you can spend your money however
11:51you like.
11:52If you think that that is the way you want to do it, then, to me, it's completely fine.
11:55Yeah.
11:55And you can always change in the future, right?
11:57You can always change.
11:57Maybe instead of spending, like, your entire budget on other people, just spend, like,
12:02half on other people and half, not on yourself, where you just keep it in, like, a separate
12:06fund first.
12:07Yeah.
12:07And then think of it as, like, in the future, if I wanted something really nice, I could just,
12:12yeah, use it from this money.
12:13Like, I want to be, like, a soccer mom.
12:14Exactly.
12:15Like, 10 years time.
12:16Like, whatever my kid, yeah, I don't know.
12:18Buy it from them.
12:19Yeah, that's, you know, that's parenting aside, though.
12:21But, like, whatever, if my daughter, like, in 10 years time was like, mommy, I want a
12:25pony.
12:26Yeah.
12:26I want to be able to have the funds to give my daughter the pony.
12:30I think it's complicated.
12:31So you're fine with your savings, your emergency funds, everything is sorted.
12:34I am pretty much sorted.
12:36Yeah.
12:36Then consider buying more stocks and stuff, that's spending money as well.
12:40Yes, it is something that I have been doing, and I've lost a bit of money.
12:46Hopefully, it will go buy up.
12:47Yeah.
12:47I think investing is a, it's like a wheel.
12:50I don't like that.
12:51I need, like, the graph.
12:52I need, I need the, what's it?
12:54I need the graph to just go.
12:55Straight up, all the way.
12:57Yeah.
12:57Predictable.
12:57I need the graph to literally look like a perpendicular triangle.
13:00It's literally just this, like this, like that.
13:03But, um, anyway, sorry, um, enough of my rambling, but, um, I actually do have a story for you
13:10from, um, from a submission that we received.
13:13Okay.
13:13So can I read that out to you?
13:14It's a question, right?
13:15Yes.
13:16There'll be a question in the end.
13:17Okay.
13:17The first story is, um, I saved, but then I spent it all anyway.
13:24That's all saving there.
13:25Yeah, I know, right?
13:26Okay.
13:26Okay.
13:26So the story goes like this.
13:28Okay.
13:28Let's go.
13:29After my salary bumped up, I promised myself I'd be smart.
13:32I created a second savings account, transferred 500 ringgit each month and didn't touch it.
13:37For three months, I was so proud.
13:39And I even thought, wow, this adulting thing isn't so bad after all.
13:43Easy.
13:44Then came the sale of the year.
13:47Okay.
13:47Ooh, I feel you.
13:49I feel you.
13:50Um, I'd been eyeing a new phone, some travel accessories and gym gear.
13:55I told myself, you've been good.
13:57Just reward yourself a bit.
13:58But it was never just a bit.
14:00It never is.
14:01It never is.
14:02It never is.
14:03It never is.
14:04First, it was a phone, then a long weekend getaway with friends.
14:08And I dipped into my savings thinking I'd top it back up next month.
14:12Spoiler alert, I didn't.
14:14And when I finally checked my untouchable account, I had 4 ringgit 67 cents.
14:19I laughed and cried at the same time.
14:21I realized I didn't have a saving problem.
14:23I had a discipline problem.
14:25Yeah.
14:25So, the question is, how do you protect your savings from yourself once you start earning
14:30more?
14:32Girl!
14:33Very relatable.
14:34Very relatable.
14:35I see someone else had that problem before in the past.
14:37Oh, yes.
14:37In the previous episode.
14:38In the previous episode.
14:39Exactly, exactly.
14:39Yeah, if you guys remember who that is.
14:41So, they're basically asking how they can solve this, right?
14:44Yeah.
14:44Yeah.
14:45The opposite of you, basically.
14:46It's basically the opposite.
14:46I mean, they're doing well for a while.
14:48It's just like, they can't control themselves.
14:49Yeah, yeah, yeah.
14:50So, credit to you for having a good start.
14:54Exactly, exactly.
14:55But then, I don't know what happened.
14:58So, honestly, this is going to sound really harsh, but I always tell people this.
15:04If you have a discipline issue, you need to fix your discipline issue.
15:06That's one thing.
15:08Eventually, you have to fix it.
15:09Because at the end of the day, the only person that's responsible for your money is yourself.
15:14So, I think longer term, you've got to think about how you're going to sort this out yourself.
15:19I think it's more of a mental thing.
15:21But short term, how you can basically fix this in the short term is you want to make it more difficult for you to access that cash.
15:27So, I think they said they moved it to another bank account, right?
15:30Yes.
15:30Yeah, I think that's good because another bank account, assuming it's not an account that you always check, at least it's out of sight.
15:35But I think a lot of people are like, corner of their mind, they're like, I have this money there.
15:40Oh my god, this literally sounds exactly like an episode that we did before.
15:44Exactly, exactly.
15:45Yep, yep, yep.
15:46So, everybody always has this in their mind like, oh, I have this money to spend.
15:50So, you need to create friction.
15:52If you don't have the discipline yet, you need to create friction, right?
15:55Either you put it into something like ASB, where you can withdraw it, but it's a bit trickier.
16:00You have to go to a bank to withdraw the money.
16:02You can put it in fixed deposits, where your money is literally locked up for six months.
16:07But technically, you can still unlock it, pay a small penalty, you can still get the cash.
16:12I have some colleagues who he knows he has a discipline issue, right?
16:16And he's in like late 30s, 40s, funny guy.
16:19He knows he has a discipline issue, so he doesn't want to put it into a bank account.
16:23He doesn't even want to put it into a stockbroker.
16:26He doesn't even want to invest the money, because he knows that if he really wants to spend it,
16:31he can always sell it, withdraw.
16:33Even if it's at a loss, he doesn't care, he'll spend it.
16:35So, what does he do?
16:35He literally puts it in an EPF.
16:38That is literally the maximum, you cannot touch it, whatever it is.
16:42Right, I see.
16:43Yeah, so you're going to choose depending on how severe you think your problem is.
16:47But like I said, at the end of the day, you have to fix a discipline issue.
16:50Yes.
16:51I don't know how, but it's something that you need to introspect.
16:56Yes, self-reflect and be introspective about.
16:59I mean, from my perspective as well, maybe it's because I don't have a discipline issue,
17:05but I think it became even more so that I didn't want to touch my spending,
17:12because I had already invested it.
17:15So, honestly, right now, I just can't even be bothered to think about how to get it.
17:21Out.
17:21Exactly, same as me.
17:22So, I mean, like you said, right, it creates sort of like a friction.
17:27It's a barrier.
17:28Yeah, it's like a barrier, right?
17:29It's a deterrent in a way, because I'm too lazy to get it out.
17:33Exactly.
17:33So, in a way, that's...
17:37It helps.
17:37Yeah, it helps.
17:38Backer calls are way too easy.
17:39Yeah, way too easy.
17:40I mean, you literally swipe a card and that's it.
17:43But then with my...
17:45So, I have ASB and I also have Stash Away.
17:48Yeah.
17:49Both of which I just don't touch.
17:52I mean, I look at the app every single day.
17:54Yep.
17:55Just looking at my money go up and down, up and down, up and down.
17:59But I don't feel like I want to do anything.
18:03Yeah.
18:03Like, I don't feel like I want to touch it, like, at all.
18:06For me, it doesn't feel like my money even.
18:08It feels like future me.
18:09Yeah, future me.
18:10Yeah, exactly.
18:10So, for some people, this will be enough.
18:11This will work.
18:12That's a good way to think about it.
18:13Yeah, exactly.
18:14Yeah.
18:14For people like my colleague, if you're like him, then you have no choice.
18:16If you have to lock it up in EPF, not ideal, but if you have to, then you have to.
18:20Yeah.
18:20Actually, yeah.
18:20Think about it that way.
18:21You're stealing from future you.
18:23Exactly.
18:24Don't do that.
18:24Future you will not be happy.
18:25Yeah, will not be happy.
18:27Because in 10, 20 years' time, you'd be like, I wish I didn't do that.
18:31Exactly.
18:32Wish I saved it.
18:33Okay.
18:34Alrighty.
18:35And then the other story that we received was, okay, so the title is, I invested too fast,
18:43too blind.
18:44Okay.
18:45That may sound like me.
18:46That's you.
18:47I'm only mostly...
18:48That was my submission.
18:50That sounds like me.
18:51I hope it's not me.
18:52Okay.
18:53I will get back to you in a year's time.
18:54But, okay, this is how the story goes.
18:56When my company adjusted my pay after appraisal season, I felt unstoppable.
19:03I had heard everyone say, don't let your money sit, make it grow.
19:06Yep.
19:06So I did.
19:07I watched two YouTube videos, read half an article, and opened an investment account.
19:12Okay.
19:13That literally sounds like me.
19:15Okay.
19:15My colleague told me about a hot stock.
19:17He claimed his cousin had doubled their returns.
19:20Okay.
19:20I didn't want to miss the boat.
19:23So, I put 3,000 ringgit in without blinking.
19:26I kept refreshing the app every hour, thinking I was a financial genius.
19:31It sounded like me initially as well.
19:33Okay.
19:33Really?
19:33Okay.
19:34Okay.
19:34A week later, the market dipped.
19:36I panicked and I sold.
19:37Then it dipped more and I cursed myself.
19:40That sure win stock, it's still down.
19:42And that 3,000 ringgit, gone.
19:44I learned the hard way.
19:46More money doesn't make you financially smarter overnight.
19:49You still need to understand what you're doing.
19:51Earning more is exciting, but losing it in a flash, that humbles you fast.
19:56So, the question is, what are the basic things you should learn before investing your salary bump?
20:00Okay.
20:00Oh, gosh.
20:01That's a good story, though.
20:04First of all, honestly, this is a much better problem to have than the biggest person.
20:09At least they're investing the money, they're losing money there.
20:10Exactly.
20:11Okay.
20:12So, I think with regards to investing, you don't want to overcomplicate things.
20:18So, you don't want to think that you need to be an expert before you start.
20:22Because that would mean that a lot of people then don't start.
20:24Which, again, is another issue.
20:25So, we don't want to get there either.
20:27Yes.
20:27Right?
20:28I think the very, very basic things that people need to understand before they start investing
20:31is, one, don't listen to your friends.
20:34Terrible advice.
20:35Especially when it comes to individual stocks.
20:37Yes.
20:38Right?
20:38Especially when it comes to, like, specific companies and stuff.
20:41It's very tricky for us to know.
20:43And then, number two, I think people just need to understand risk.
20:45And how the markets work.
20:48Right?
20:48So, sometimes, even if it's a very good company, even if your investment is in a really good
20:53place, you will still lose money.
20:55And I think it's normal.
20:56Sometimes market goes up, sometimes markets go down.
20:59It's normal.
21:00Yeah.
21:00Your earlier thing about how you want it to be perpendicular, yeah.
21:02It's not going to happen.
21:03Unless you're in ASB, for example, right?
21:05Yeah.
21:05Where it doesn't have to.
21:06Yeah.
21:07But I think for the vast majority of people, most of their money is in the stock market.
21:10And you will really see times where you're down 30%, 40%.
21:13Which means that if you have a 1 million ringgit portfolio, expect to see a 300,000,
21:18400,000 ringgit.
21:19That's actually my nightmare.
21:20Exactly.
21:21Yeah.
21:21Honestly, okay, I don't even have, like, millions of ringgit in my portfolio.
21:24I can't imagine losing that much.
21:27But you have to prepare yourself.
21:28You have to prepare yourself.
21:29So, I think as long as you understand that, like, there will be periods where the markets
21:34are down.
21:35And you shouldn't panic.
21:36Because over time, markets tend to go up.
21:38Yeah.
21:38You understand that.
21:39Yeah.
21:39And you understand that you shouldn't just blindly follow other people.
21:43There are very simple ways to invest.
21:45I think we talked about this as well.
21:46Yes.
21:46Very simple ways to invest.
21:48Invest into ETFs, a basket of stocks, the biggest 500 companies in the US, right?
21:52Literally one ETF, biggest 500 companies in the US.
21:56You, I wouldn't say you cannot lose your money there, but it's very unlikely.
22:00Because you're diversifying across 500 different companies, right?
22:04Again, you will still expect dips.
22:05But over the long run, you should be fine.
22:06I think those are just the very basic things that you need to understand.
22:10Don't hold off on investing after this, basically, point of time.
22:15Just start your investing journey and then just learn more along the way.
22:18Even in this scenario, for this person, even though they lost money, they didn't understand
22:22the stock, they didn't understand the risk, I wouldn't say that's a big issue.
22:25It's better that you make this mistake now with a few thousand ringgit than a few hundred
22:29thousand ringgit, a few million ringgit, right?
22:31So, I think it's normal.
22:32It's fine.
22:32Everyone goes through this.
22:33Everyone goes through this.
22:34Yes.
22:35I mean, yeah, no, I totally agree on that as well.
22:37I feel like, I mean, like I was, I was doing the exact same things, right?
22:42Like I was watching YouTube videos and like considering like, should I, should I not?
22:47Yeah.
22:47But, yeah, once you actually like start, again, the idea is literally to just chuck in your
22:54money and like, let it be.
22:57Just ignore it.
22:58Future you will thank you.
22:59Yeah, just ignore it.
23:01And yeah, you have 10 minutes of time.
23:03When are you going to be a 95 millionaire?
23:05Oh, yes, that's right.
23:07So, according to my predictions, apparently, I will be a almost 100 millionaire in 50 years
23:16time.
23:16There's a 5% chance of that.
23:17Yeah, 5% chance of that happening.
23:19I like those odds.
23:19In 2075.
23:20I like those odds.
23:21So, so you get a yacht, you get a yacht, you get a yacht.
23:26I'll be ready.
23:27Yeah, I think that's it.
23:28So, yeah.
23:30I guess I'll just recap.
23:30Yeah.
23:30I guess just to recap.
23:32First of all, if you guys are increasing your income again, congrats.
23:35Really good job.
23:36I think it's very important in personal finance.
23:38Make sure, I guess if you guys are different than Yasmin, make sure you guys got your debt
23:43settled.
23:43If you have any loans that you're behind on, make sure those are settled.
23:46If you don't have your emergency fund, make sure that is settled.
23:48And then, what you can do from there is, like I said, just save a percentage of your
23:52income.
23:5320%, 30%, whatever you feel comfortable with.
23:55The rest of it, I would say just spend it.
23:59If you want to.
24:00If you want to.
24:01If you want to self-reward, I think that's completely fine.
24:03Because this whole thing, it's a lifelong journey.
24:06I guess for you, you don't feel the need to spend.
24:08But for people who want to spend, I think it's completely fine.
24:11As long as you've got your basics covered, you are saving and investing more, completely
24:14fine.
24:15Right?
24:15And then, when it comes to investing, like I said, you will never be ready for it.
24:21Don't overthink it.
24:22Just start.
24:23You're earning more money.
24:24Invest more money.
24:25Make mistakes when your portfolio is still small, so that when it gets bigger, at least
24:29you're more prepared and you know what to expect.
24:31Cool?
24:31That's right.
24:32Cool.
24:32All right.
24:33Thank you so much, Yasmin.
24:34Nice talking to you again.
24:35Hope you guys enjoyed this episode.
24:36See you in the next one.
24:37See you in the next one.
24:56See you in the next one.
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