How people make money during raya

How to make money during raya season?

Of course by getting duit raya. But duit raya will not come easily. Don't be lazy during raya. Visit your relatives but don't keep hope to high this year as the economy is not that good for anyone of your relative to give big duit raya to you except for someone who have Dato' as relatives.

This is how people make money during raya season.

1. Make raya cookies and sells them.
2. Sew Baju Melayu and Baju Kurung
3. Sell tudung and songkok
4. Sell firecracker illegally
5. Sell custom made Raya Greetings

Saving money during raya shopping

I give my own way on how to save while you can spend during raya season.

1. Buy discounted item. Save 20%-70%. Usually shopping mall will have discount during festive season. This is the time to buy your baju raya.
2. Buy long term item. I buy jeans that I intended to use for 4-5 years. Its okay if you buy 1 jeans that cost you RM 100 and above and make sure it is quality jeans. By doing this, I have my jeans for 4-5 years and ended saving by not buying another jeans. I buy a jeans during puasa a years ago and not intended to buy another as the jeans as good as new although I used it almost everyday.
3. Buy last minute. During last minute shopping, the sellers usually will slash the price aggressively to make someone buy their goods.

Have your own way to reduce raya spending? Share with us..

Parkinson's Law

The bigger our salary, the bigger we will spend. If we spend around RM 3,000 per month before this, we will use mid range car, live in medium price house, eat at the stall and having a vacation within this country only. But after our salary increase because of being promoted, our lifestyle will change from using mid range car to having a better and more expensive car, live in the bigger house, start to eat at the hotels and having a vacation overseas. But your saving did not increase as we increase our cost of life.

Our saving supposed to increase with the increment of our salary. This is what they call Parkinson's Law, the bigger the salary, the bigger your spending.

So how to avoid it? We must resist this Parkinson's Law by having a simple life just as before and try to save 10%-40% from our salary every month.

Can we resist this law? Of course we can because the main problem came from ourself. We must spend wisely and try to be dicipline in managing your personal finance.

Link Exchange

Want to do link exchange with me?

Just comment me and list down your link and your blog name.
Or you can e-mail me instead at basyir1988(at)yahoo.com.
*(at) is actually @ -just to prevent spam robot.

I preferred blog on financial issues only but if your blog is in another category, I will put your link on my Personal blog.

How to become a Certified Financial Planner

Lots of my friend ask me on how to become a Certified Financial Planner. Of course we must study first to become a certified financial planner but how?

I got my answer when I google it.

According to FPAM, the candidates must meet four requirement of the certification process that is Education, Examination, Experience and Ethics. That is 4 E that you are required to meet.

For Education, you must complete acedemic course of financial planning which consist of 6 module.

• Foundation in Financial Planning
• Risk Management and Insurance Planning
• Tax Planning
• Investment Planning
• Retirement Planning
• Financial Plan Construction and Professional Responsibilities

I have read 1/4 of the first module and the module is really though. I think the fastest that anyone can complete this course is around 6 month which mean we study 1 module per month which is only my estimation. The actual process may take longer than that.

After that, Examination which means that you are eligible to take the certificate examination after you complete your Education process. The examination should be tough as they want to produce the CFP so that they can perform on appropriate level for the public.

Next is Experience where you must understand the counselling nature of personal financial planning. You are required to have 3 years of experience, performed before of after you complete the examination. This is what FPAM define the experience requirement.

Experience requirement is defined as the supervision¹, direct support², teaching³, or the personal delivery of all or part of the personal financial planning process to a client4. Qualifying experience must be able to be categorized into the six primary elements of the personal financial planning process summarised below:

• Establishing the client-planner relationship.
• Gathering client data.
• Determining the client's financial status.
• Developing and presenting a client-specific financial plan tailored to meet the goals and objectives of the client.
• Implementing the financial plan.
• Monitoring the financial plan.

And then Ethics which you can find it here.

After all the above process, you can now receive an application form for certified membership. Once certified, you are required to study more so you will be up-to-date on planning strategies and financial trends that will affect your future clients.

Next year, I will try to take this certificate financial planning. So that one day I can become a certified financial planner myself. If want to know more on certification, you can go to FPAM website.