SM Magazine September 2013

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SEPTEMBER 2013

magazine

Win a WORTHY BOOKTM set valued at RM60 when you are one of the first 10 to sign up with Malaysia’s No.1 Money Saving Community online at:

www.savemoney.my/magazine Turn to page 4 for more details! * Terms and conditions apply.

by savemoney.my

The SAVEMONEY MAGAZINaEy! Giveaw

SEPTEMBER 2013

2

SEPTEMBER 2013

EEVA TOTE BAG

RM159

Exclusive

Save with your Maybank credit card, at RM100* *With any purchase from Bagz Bar only. T&C Apply

Only available at Bagz Bar Boutiques • Lot G1.08, Sunway Pyramid • Lot G23 & G24, Alamanda, Putrajaya • Lot G228, 1 Borneo Hypermall, Sabah

SEPTEMBER 2013

Contents & Editor’s Note

CONTENTS

5 FINANCE • Best Cashback Debit Cards in Malaysia

Publisher Saving Experts Sdn. Bhd. C-13A-2 Wisma Goshen, Plaza Pantai 5 Jalan 4/83a off Jalan Pantai Baru 59200 Kuala Lumpur,Malaysia

• Budgeting in Malaysia – What to Budget for and Why

Editorial Hann Liew Eeman Teoh May Chiam Balkish Rosly Eugene Chua

8 TECHNOLOGY • Internet Download Speed vs. Download Quota – Separating the MBs from the Mbps

Design Komalah Sithamparam

9 SM STUDENT EDITION

Advertising Lucas Ooi Ian Low Luke Rayan

• The SaveMoney Student Guide to Saving • The SaveMoney Student Eats Out (AND SAVES!)

For more information on products and services, please feel free to contact us.

• Click www.savemoney.my © Copyright. Saving Experts Sdn. Bhd. (Company No.977808-K) 2013.

All right reserved.

• The SaveMoney Student Goes to Work • Cheapest Prepaid Plans – Comparison of Prepaid Plans in Malaysia

www.facebook.com/SaveMoneyMy www.twitter.com/SaveMoneyMy

17 TRAVEL

www.savemoney.my

• Car Buying Guide – Calculate Your Total Cost of Ownership!

theeditor@savemoney.my

20 SAVEMONEY TRAVELLER • Goes to Bangkok

22 SAVEMONEY TOP PRODUCT TABLES

Editor’s Note While everyone is enjoying the Raya month, most students are packing up their bags to go back to campuses.

To help you cherish your student years, we at SaveMoney have come up with ‘The SaveMoney Student Guide to Saving’, providing ways to survive the new millennium without starving on Maggi! (Wait, no Maggi?) Yes, ‘The SaveMoney Student Eats Out’ a lot! There will always be cheap and comfortable places for students to hang out and chill. No gimmicks, just read our article in the SM Student Edition. While maintaining a lifestyle, one needs to work and earn some moolah. We do encourage all our interns to get a job in ‘The SaveMoney Student Goes to Work’. Discover all the options of what you can do on a part-time or full-time basis to generate some extra Ringgit!

We welcome any comments or feedback.

Tweet, e-mail, or Facebook us to share your Money Saving experiences!

Disclaimer Whilst SaveMoney uses a journalistic approach to deliver the best consumer guides, tips, tools and tricks, we cannot guarantee everything to be perfect. Therefore in using our site, you are agreeing to peruse all information at your own risk, and you acknowledge us for who we are and accept that we are not perfect. We are unable to assume the responsibility, nor do we accept any liability if things go wrong. Remember: The content we produce are as general information only and should not be construed as financial advice. Always do your own additional research to meet your own specific goals and requirements. Any action that you take as a result of information, analysis or commentary on this site is ultimately your own responsibility.

We may link you to other websites, but we are not, and cannot be responsible for their content.

Anyone can post on SaveMoney’s forum. Their opinions do not represent those of SaveMoney’s!

3

Getting a part-time job is a way to pay for your phone reload cards. Check out our analysis on the ‘Cheapest Prepaid Plans – Comparison of Prepaid Plans in Malaysia’ to see if you’re using the right prepaid package.

So, you earn more and can afford a car? Head on over to our ‘Car Buying Guide – Calculate your Total Cost of Ownership!’ to ensure that owning a car is what you really want.

Saving should be your priority, so don’t just say that you’ll save whatever is left over at the end of the month. Set your goal. Our goal is to share more SaveMoney info with all of you, but these pages are limited. Do watch out for this space next month as we fill them in with more exciting SaveMoney tips!

Saving is fun!

Eeman Tip of the month: Cancel your gym membership Instead of that hefty gym membership, exercise in the great outdoors, run in the fresh air. Swallow your pride and utilize those strange public fitness logs in the park. The world is a cardio machine.

Watch the calories turn into greenbacks!

4

SEPTEMBER 2013

The first 10 to sign up online will get a WORTHY BOOKTM set valued at RM60!

The Y E N O M E V SA MAGAZINaEy! Giveaw We are giving away 10 WORTHY BOOKTM sets, each of which includes an FnB Edition and a Ladies Edition. These books contain vouchers and coupons that will help you save RM1,000s on food and all your women’s needs! Participating is really easy and will take less than a minute! All you have to do is follow the simple steps below to get yourself in the running for the prizes.

Step 1 Go to http://SaveMoney.my/Magazine and subscribe to Malaysia’s No.1 Money Saving Community and join the 60,000 members who have already saved RM1,000s! The first 10 subscribers will win these great giveaways!

Step 2

WIN!

Terms and Conditions Can anyone take part in this promotion?

All Malaysians and foreigners are eligible to participate.

Do I need to provide any details?

Yes. You will be required to give us your name, e-mail, and age.

Why do you need my details?

We need your details to make sure the winners can be identified.

Will my details be shared with any third party?

No. SaveMoney.my will not share any of the personal details given to us. Please see our Privacy Policy at http://www.savemoney.my/privacy-policy.

If I am already a SaveMoney.my subscriber, can I still participate?

Yes. This giveaway is for all SaveMoney.my subscribers. Please register at http://www.savemoney.my/magazine.

When should I subscribe to ensure my entry to the competition ?

As soon as possible! The first 10 subscribers will be announced on http://savemoney.my/magazine.

When will you announce the winners?

The winners will be announced on 20th September, 2013 on the same registration page. Details on how to collect the prizes will be e-mailed from admin@savemoney.my to the winners directly.

Winners will be identified by e-mail address and must reply back to us with the same e-mail they registered with.

Nothing in this advertisement shall be taken to be a representation that the designer or the producer of the product(s) to be given away in this promotion has endorsed this advertisement.

Finance

SEPTEMBER 2013

Best Cashback Debit Cards in Malaysia W

5

by Hann Liew

e always hear how people suffer from credit card debt and its consequences. Well, that depends on how you spend and pay off all the outstanding bills each month. If you are not eligible for a credit card or just don’t want one, the best way to spend and earn back the money you spend is through cashback debit cards. Grab the top cashback debit cards and save RM100s or even RM1000s extra per year!

What is a Cashback Debit Card?

A cashback debit card is a debit card that gives rebates in cash when you spend. For example, if a cashback card has a cashback rate of 5%, when you pay for something worth RM200 with the card, it gives you a rebate of RM10, meaning the final price you pay is RM190. Whenever you spend, the amount spent will be deducted from your current account linked to the debit card. This requires the spender to keep a certain amount of money in their current accounts in order to use the debit card.

k c a b h s a “C ” d r a C t i Deb

Cashback Debit Cards vs. Cashback Credit Cards The main difference between cashback debit cards and cashback credit cards is the difference between a debit card and a credit card. Both will give cashback, but with cashback debit cards you don’t get any credit from the issuing bank (i.e. for any spending you have to have enough money in your account when you purchase items). On the flip side, debit cards are normally issued along with your current account and require no credit checks on annual income or any additional applications. Furthermore, debit cards don’t normally have a big Annual Fee or the Annual Government Service Tax of RM50, while credit cards do. Full summary below: Card Type

Credit Card

Debit Card

Credit Provided

Up to 56 days depending on card

No Credit, full cash required on purchase

Privileges

Usually Travel Insurance / Purchase Protection included

No Travel Insurance / Purchase Protection

Application / Credit Check

Required

Not Required

Minimum Income

Required

Not Required

Annual Fee

Annual Fee depending on bank

Normally no Annual Fee (only PMPC charge for ATM facility of RM8 per year)

GST

RM50 per year

No GST

Minimum Age

21 years

12-18 years

Is a Debit Card an ATM Card?

Obviously, there is a difference between an ATM card and a debit card. An ATM card only allows you to withdraw cash from your account through an ATM (Automated Teller Machine). A debit card allows you to make financial transactions (mostly purchases) without paying with cash. The payment is made by swiping your debit card in a machine at the shop where you made the purchase. The value of your purchase is automatically deducted from the balance in your bank account.

Nowadays, banks provide ATM debit cards, which can be used for both the purposes mentioned above. Visa and MasterCard (Maestro is an arm of MasterCard) are international service providers for transactions made with ATM, debit, or credit cards. Banks issuing such cards usually tie up with one of these providers and their logo is printed on the cards.

An international debit card allows you to settle payments on purchases outside your country using the card. The countries where a particular international debit card is acceptable is made known to the card holder by the issuing bank.

Some Top Cashback Debit Cards in Malaysia Alliance Bank Hybrid Platinum Debit MasterCard Cashback Paid Out Max Cashback Annual Fee Card Issuer

: 1.5% on all spending up to RM6,000 per month (except MEPS e-Debit) : Monthly : RM90 monthly : RM12 : MasterCard

Alliance Bank’s Hybrid Platinum Debit MasterCard is the top payer here (actually, their Hybrid Premium Debit MasterCard is, but you need to be a Privilege banking customer, explained further below). At 1.5% on spending up to RM6,000 per month, this means that you could earn up to RM90 cashback just by switching from using cash to this card! The annual fee of RM12, rather than the usual RM8 for debit cards, can easily be offset within the first month.

Annual Spend (Platinum Debit)

RM10,000

RM20,000

RM50,000 RM75,000

RM100,000 RM150,000

Yearly Cashback (after fee)

RM138

RM288

RM738

RM1,068

RM1,068

RM1,068

The big drawback here is that you first need to deposit RM20,000 into a Hybrid Account, which you must open in order to get the card. The Hybrid Account doesn’t exactly have market-leading interest rates, so it’s worth just putting the RM20,000 into the account first to get the Platinum card and withdrawing it once you receive the card. If you don’t have RM20,000 handy, you will still receive Alliance Bank’s Hybrid Standard Debit MasterCard, which gives a reasonably competitive 1% cashback rate on spending up to RM3,000 (RM30 cashback limit per month).

Annual Spend (Standard Debit)

RM10,000

RM20,000

RM50,000

RM75,000

RM100,000

RM150,000

Yearly Cashback (after fee)

RM88

RM188

RM348

RM348

RM348

RM348

For the highrollers out there, if you are able to open a Privilege Banking account with Alliance, you are then eligible for the best cashback debit card out there, the Alliance Bank Hybrid Premium Debit MasterCard, which gives a market-leading 2% cashback on spending up to RM9,000 (RM180 cashback limit per month).

Annual Spend (Premium Debit)

RM10,000

RM20,000

RM50,000

RM75,000 RM100,000

RM150,000

Yearly Cashback (after fee)

RM188

RM388

RM988

RM1,488

RM2,148

RM1,988

Tip: All debit cards are ATM cards but not all ATM cards are debit cards!

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SEPTEMBER 2013

Finance

Public Bank PB-Esso Mobil Visa Debit Card Cashback Paid Out Max Cashback Annual Fee Card Issuer

: 1% Petrol at Esso/Mobil, 0.5% on other spending : Monthly : Monthly limit for petrol of RM30, no limit for other spending : Free for life : Visa

The Public Bank PB-Esso Mobil Visa Debit Card gives 1% cashback on petrol purchases at Esso/Mobil limited to RM30 per month, meaning you can spend RM3,000 on petrol before you get capped. Other than that, there is also a low 0.5% cashback rate on all other spending. Use only either if you are unable to get a cashback credit card (where cashback rates are from 1 – 5%) or have maxed out the cashback on the Alliance Bank card above.

Annual Spend

RM10,000

RM20,000

RM50,000 RM75,000

RM100,000 RM150,000

Yearly Cashback (assuming 25% spending on petrol, 75% on others - after fee)

RM63

RM125

RM313

RM625

RM469

RM923

RHB Easy-Smart Debit Card Age Requirement : 18 years and above Initial Deposit : RM50 for Easy-Smart Account 1, no initial deposit for Easy-Smart Account 2 Minimum Balance Easy-Smart Account 1: RM1 Easy-Smart Account 2: RM0.01 Interest Rate: Easy-Smart Account 2

Easy-Smart Account 1 Available Balance

Interest Rate

Available Balance

Interest Rate

Up to RM3,999.99

0.05% p.a.

Up to RM100

10.00% p.a.

RM4,000 and above

0.35% p.a.

Above RM100

0.35% p.a.

Terms and Conditions: The deposit accounts that are connected to Easy-Smart Card include:(a) Easy-Smart Account 1, which is the designated account for retail spending. (b) Easy-Smart Account 2, which is directly connected to Easy-Smart Account 1.

The product allows you to spend via Easy-Smart Account 1 and receive the contributions in your Easy-Smart Account 2 automatically. This mechanism is called the Save-As-You-Spend feature.

The only deposit allowed in your Easy-Smart Account 2 is via this special feature.

The eligible spending (EMV transactions) are as follows:Spending of above RM30.00 for purchase transaction either via merchant swipe or online purchases.

Spending of above RM30.00 for bill payment transaction either via merchant swipe or online payment.

Review

Petrol purchase above RM50.00.

For every category you fall in above, a certain amount of money from your Easy-Smart Account 1 (Your Contribution) is transferred to your EasySmart Account 2 and a certain amount of money is contributed by the bank (Bank Contribution).

c) Only three (3) swipes within the same merchant in a day will be entitled to the Save-As-You-Spend feature.

How it works: Spending amount between RM30 and RM100

Spending amount more than RM100

Purchase amount between RM50 and RM100

Purchase amount more than RM100

Spending From Your Easy-Smart Account1 Retail Spending

Retail Transaction

RM55.30

Spending From Your Easy-Smart Account1 Retail Spending

Retail Transaction

RM105.60

Spending From Your Easy-Smart Account1 Petrol Transaction

Petrol

RM60.70

Spending From Your Easy-Smart Account1 Petrol Transaction

Petrol

RM105.60

Saving Received in Your Easy-Smart Account 2 Your Contribution

RM0.20

+

Bank Contribution

RM0.30

=

Total Savings

RM0.50

Saving Received in Your Easy-Smart Account 2 Your Contribution

RM0.40

+

Bank Contribution

RM0.60

=

Total Savings

RM1.00

Saving Received in Your Easy-Smart Account 2 Your Contribution

RM0.30

+

Bank Contribution

RM0.20

=

Total Savings

RM0.50

Saving Received in Your Easy-Smart Account 2 Your Contribution

RM0.40

+

Bank Contribution

RM0.60

=

Total Savings

RM1.00

RHB has recently introduced what they claim is Malaysia’s first and only debit card that helps you to save as you spend. In truth, it’s nowhere near the top cashback debit card rates. It is also worth noting that the 10% p.a. interest only affects the money transferred over into the Easy-Smart Account 2. Aside from that, this interest rate is valid for amounts of up to RM100 only.

Taking retail spending between RM30 and RM100 as an example, the cashback rate if you spend RM30 is RM0.30, making it 1%; the cashback rate if you spend RM100 is also RM0.30, which makes it 0.3%. In this case, this scheme gives the best return to those who spend RM30, as you get more cashback.

Do not let the 10% p.a. interest fool you. A large proportion of the savings in your Easy-Smart Account 2 is your own money transferred over from your Easy-Smart Account 1. Moreover, with such a small amount transferred after each transaction, it will take a while to reach RM100.

Even though the rates offered for RM100 and above and the Easy-Smart Account 1 are significantly lower than the market level, it would still be a good idea to deposit your planned expenses in the EasySmart Account 1. Since you’re going to be spending the money anyway, you might as well enjoy the benefit of 10% p.a. interest at the same time.

Finance

SEPTEMBER 2013

Budgeting

7

in Malaysia

What to Budget for and Why

by Hann Liew

T

he main problem with doing most budgets is that they don’t often work! Budgets are typically done on a monthly basis in line with our income frequency, yet our spending patterns are far less predictable when it comes to daily lunches, weekly trips to the cinema, or yearly birthdays / family trips / festivities.

What is a Budget?

What Do I Need for Preparing My Own Budget?

Very simply, a budget is a financial plan. But unlike paying lots of Ringgit to a financial expert with many acronyms after their name (e.g. CFP, CFA, CPA, MBA, PhD, etc.) to come up with one, a budget is a type of financial plan that you can actually do for yourself.

Budgeting involves more than just listing down what you think you spend. Effectively, it should be a thorough critical analysis of your actual spending. For this, you will need the following:

In the purest form, a personal budget is a summary of all your income and expenditure, done with the purpose of seeing whether one is larger than the other.

You basically put all your income on one side of a sheet and group your expenditure on the other.

- bank statements, preferably for the last 3-6 months - credit card bills for the last 3-6 months - if possible, receipts for items paid for in cash (and card too) - most recent payslips Don’t worry about not having all the details; just start filling in what you can and it will eventually get easier.

Why Should I Make a Budget?

1. Find out if you spend more or less than you earn.

Going along based on simple observation and your gut feeling are easy enough.

If you notice the balance in your savings account decreasing or your debts (credit cards and personal loans) increasing every so often, you are probably overspending.

Doing a budget helps you see exactly how much you are overspending by each month or year; it also gives you a more accurate idea of the size and scale of the problem, if you have one.

Overspending can lead to several problems, including a vicious debt cycle of taking out more loans and credit cards to service your overspending and the existing debt that you have.

2. Know what you spend and how much you spend.

By doing a budget, you can break down exactly where your expenditure goes and more accurately see if you’re actually spending how much you think you are.

3. Plan your spending in the future.

If you are aware of your personal financial situation, you can more easily take control of your spending and actively manage your own personal ‘profit-and-loss’ statement, so you know what you can and cannot afford to spend.

This allows you to prioritise your spending according to your means; you can then plan your future spending by setting spending targets and sticking to them.

Should I Make a Joint Budget with My Spouse / Family?

This depends on whether you want to combine your incomes and expenditures - and whether you can! Quite often, joint expenses are difficult to separate, so you may have to create a budget together anyway.

Even if you are not the type to ‘stick to a budget’, doing a personal budget is a useful way to have an overview of your financial situation as well as your types of expenditure.

The SaveMoney Style of Budgeting Budgets typically don’t work not because people don’t stick to them, but because they are wrongly put together from the start. How does one account for everyday snacks, oneoff purchases of clothes or home furniture, the biannual trip to the car service centre, or even the annual family holiday or balik kampung exodus? Moreover, people are usually too general when it comes to budgeting: for instance, ‘car expenses’ include fuel, parking, maintenance, tolls, insurance, road taxes, etc. While this is fine overall, you do lose some information about where you could be saving your money and where you could think about cutting down.

Available online at savemoney.my, our nerdy web team has created a budget tool which accounts for this problem, allowing you to enter expenditure based on the time period considered, as well as categorise expenses with sufficient sub-categories. But first, some quick FAQs and tips:

Be Specific Some budgets fail because the categories are too general. For example, ‘household spending’ can encompass the daily necessities of food and cleaning products to monthly household bills like electricity and water, as well as more long-term spending items like TVs and computers. However, if you are specific, you will be able to see the breakdown between more categories and identify any spending habits you wish to change.

Average Your Spending Your spending could vary quite significantly from month to month. For example, if you do most of your grocery shopping on weekends, the months with 4 weekends will have a lower ‘household groceries’ figure than the months with 5 weekends. By taking an average of your spending over several months (3 or more would be ideal), you can get an accurate assessment of your monthly spending. Alternatively, you can take an average of spending over several weeks and fill in an average weekly amount.

8

SEPTEMBER 2013

Technology

Internet Download Speed vs.

Download Quota Separating the MBs from the Mbps

by Lucas Ooi

C

an’t tell your KB/s from your Mbps or your GBs from your MBs? Read on! Do you use ADSL, mobile, or high-speed fibre broadband? Is it too fast (!) or slow? How much Internet do you actually use? What is enough for the family? Read on to find out more.

Speed Classifications Surprising as it may be, most Internet users are unaware of how much faster or slower broadband packages are. We will try to make it easier for you by taking as examples 3 types of users and recommending a speed for each user.

Broadband Revolution The Internet has revolutionised the world by bringing us closer together. We now live in a fast-paced society where sending letters, making phone calls, and reading encyclopedias have been replaced with e-mails, instant messaging, and Wikipedia. The Internet grants us quicker access (for better or for worse) to literally anything we’d like to know. But how fast are we talking about?

There are so many broadband packages right now in Malaysia. The explosion of broadband has meant that many of us have not been able to keep up with the latest plans out there, but don’t worry, we’re here to help you out!

Megabits, Megabytes, and Megabaffle explained!

1Mbps means that data can be downloaded from the Internet onto your computer at 1 megabit per second. This is the speed of the connection. You might hear people mention in conversation, “I have a 1 meg connection’; this is what they are referring to. ‘Meg’, ‘megabit’, and ‘Mb’ are all interchangeable in this instance.

However, how does this translate into web browsing speed?

Well, webpage size is determined usually in megabytes, which unfortunately is not the same unit generally used for connection speed. But assuming the webpage is the same size, the higher the megabits, the quicker it takes for the data to be downloaded from the Internet to your computer, which translates to faster browsing!

Snail Gail Gail spends a maximum of 1-2 hours a day on the Internet, checking a few emails, lightly browsing on Facebook, and perhaps reading news articles in her leisurely time. She also browses fashion and lifestyle websites to keep in touch with the latest trends; when the mood takes her, she buys a few items online around once or twice a month.

Minimum Broadband Speed: 1Mbps

Average Joe Joe spends a lot of his time when at home on the computer. He visits mediarich websites like technology/ car review websites, streams videos on YouTube, and downloads MP3s to his iPod or music player.

Gonzalez spends the majority of his time on the computer while at home. He streams high definition videos, plays high definition online multiplayer games, and uploads large pictures for his photography business.

Minimum Broadband Speed: 3-5Mbps

Minimum Broadband Speed: 5Mbps or higher

Points to Remember 1

Just remember:

2

8 Megabits (Mb) = 1 Megabyte (MB) Therefore, if you have a 1Mbps (1 megabit per second) connection and you wanted to download a 1 megabyte webpage, it would take approximately 8 seconds. In March 2013, the average global page size of a webpage was 1.3 megabytes. In December 2011, it was only 0.96 megabytes! Here is a rough estimate of how long an average page will take to load - assuming that it’s 1.3 megabytes - in 2013 based on various speeds: 10.3 seconds per page 1Mbps 3Mbps 5Mbps 10Mbps 20Mbps

3.4 seconds per page

2.06 seconds per page 1.03 seconds per page 0.5 seconds per page

Speedy Gonzalez

3

Unlimited Data Allowance?

Right now, for the majority of home broadband plans, the Internet service providers do not put a maximum data allowance per month or are not putting a hard limit. Although be warned: they may monitor extreme usage behavior and warn you about excessive data usage at some point.

This is represented in theoretical speeds. In reality, if you applied for a 20Mbps connection, you may not get that speed due to high traffic or data loss.

Many webpages are much larger than 1MB. Simultaneous users also play a role. Assume that you are a family of 6 who all use the Internet at the same time; it could mean your webpages load several times slower than expected.

SM Student Edition

SEPTEMBER 2013

Student Edition

The SaveMoney

g n i v a S o t e d i Student Gu

by May Chiam

Y

et another university year begins! For incoming freshmen - excited at the prospect of broadening the horizons of your minds (or those freshers’ parties!) - and varsity-weary second/third years, we know and share your feelings! Here at SaveMoney, our goal is to save you those precious Ringgit without having to cut back on your student lifestyle. We sympathise entirely with the universal student’s plight (i.e. perpetual poverty). However, with our handy tips and pointers, we’ll show you how to live like a SaveMoney student.

1Malaysia Student Discount Card The 1Malaysia Student Discount Card (Kad Diskaun Siswa 1Malaysia) can save you up to 60% in discounts across retail outlets in the country. The card is free and available to all public and private university students. If you haven’t already received one from your university, apply and collect your card as soon as possible. With it, you can save on specific products at participating retailers nationwide. Amongst others, you can get discounts on books, stationery, theme park tickets, food, transportation, IT products, and eyewear. Most of these discounts are between 5% - 15% and may already be available for anyone with a valid Student ID, so always compare prices before you make purchases.

Transport Unless you plan to hibernate in your room or in the library like a studious hermit, you’d best figure out how to cut down on transportation costs. If you don’t, you can expect to burn a hole in your pocket the size of the Grand Canyon! For those studying in Selangor or the Klang Valley, be sure to sign up for a Rapidpass Pelajar Integrasi (RM100 monthly for bus, LRT, and Monorail) or Rapidpass Pelajar Bas (RM50 monthly for bus services).

With either in hand, you have unlimited access to public transport in the city. Should you need to travel throughout peninsular Malaysia, KTM offers a 50% discount for students. You can also carpool with other students, splitting the cost of petrol amongst the group. If not, take a student cab (i.e. transport via car owned by students) for lower taxi fares.

Shopping and Retail If you’re the fashion-conscious type, keep three words in mind: Budget! Budget! Budget! Decide on a certain amount you’ll spend on your wardrobe monthly and stick to it. There are student discounts at retailers like Forever 21 and Topshop, so be on the lookout for these discounts (or ask!) whenever you shop. If you desire variety but are terminally short of cash, buy pre-loved or vintage clothes. Remember that fashion is cyclical: trends come, go, and soon return again. An 80’s tulle skirt can be revamped to a punk-princess look for under RM15! If you have a group of girlfriends, visit wholesale malls and split the loot amongst yourselves.

Technology and Communications As a student, we recommend you go with prepaid over postpaid. Unless you’re a very heavy user, prepaid offers you the flexibility that postpaid simply does not, allowing you to pay as you use rather than tying you to any contracts. Service providers are always vying with each other to offer the best prices, so keep checking their plans for student discounts or “campus editions”. Another great way to SaveMoney is to use your campus’s WiFi, for both your Internet needs and various instant messaging applications.

As for phones and gadgetry, go to your university’s PC Fairs to score the latest freebies from vendors. If you’re lucky, you may also be able to get student discounts on older models and any surplus stock they have leftover.

9

10

SEPTEMBER 2013

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Groceries

At the Movies The big cinemas – Golden Screen Cinemas, Tanjong Golden Village Cinemas, Cathay Cineplexes, and MBO Cinemas – all have student discounts available, either throughout the year or during certain promotional periods. In order to qualify for these discounts, you simply have to show your Student ID at the ticket counter. If you have a debit card, make sure you check for any cashback or promotional discounts on movie tickets. There are always price discrepancies in movie tickets, especially at different outlets, so do some research (i.e. price comparison) before you watch the next blockbuster!

You can save on groceries by signing up for member, loyalty, or reward cards. Some of these cards are free and easily obtainable. Try to buy store brands as opposed to the more expensive imported brands.

Bulk buying can also save you money in the long run, especially on non-perishable goods. With the 1Malaysia Student Discount Card (Kad Diskaun Siswa 1Malaysia), you can also save on non-food products in Mydin.

Theme Parks Many theme parks in the country offer discounts for students.

Usually, upon presenting a Student ID, you are entitled to a discounted entrance fee. Group buying sites like Groupon are also good places to scout for cheap tickets to theme parks. If you pay via your debit card, you may also receive a lower price, provided your bank has a promotional deal with the theme park. For hardcore MoneySavers, visiting theme parks during non-peak periods (weekdays) can save you tens of Ringgit.

Cashback Debit Cards As a student, you likely have a debit card, since you probably aren’t eligible to apply for a credit card yet. The great thing about debit cards is that you cannot possibly get into debt with them, because you can only spend the money you actually have in your bank account. Earning cashback on your debit card is one of the best ways to save, so read our article (page 5) on the best cashback debit cards to find out more!

SM Student Edition

SEPTEMBER 2013

11

Student Edition

The SaveMoney Student Eats Out (AND SAVES!)

by May Chiam

Go to Restaurants with Lower Service Tax

Mamak & Hawker Stalls

If you can manage it, patronise restaurants with lower service tax.

Although you may think this is taking frugality to an extreme, you’ll be surprised at all the difference lower service tax can make to your food budget. Two meals at two separate restaurants may cost the same without added service tax; with the addition of service tax, 3% for Restaurant A and 7% for Restaurant B, you can obviously save more than a few Ringgit at Restaurant A. RESTAURANT A

3%

W

e know a constant diet of university grub can leave your taste buds in despair. With cooking forbidden in varsity accommodation, your next logical step is to venture out and feast on the food available beyond the university’s cafeteria. Regrettably, eating out can be an expensive affair, especially if you’re a fussy foodie with a penchant for top-notch food. However, the SaveMoney student eats out economically by keeping the following tips in mind.

Mamaks and hawker stalls are at the heart of Malaysian cuisine – and so inexpensive that all SaveMoney foodies collectively rejoice! Missing the ambiance of more atasan restaurants, there is nevertheless no compromise on the quality of the food. Whether you need a quick breakfast or a more leisurely dinner, mamaks and hawker stalls are a great way to eat delicious food and save. They may not serve the healthiest food, and we can’t promise that you’ll live beyond 35 if you consume this stuff daily, but in terms of cost-effectiveness, there is nothing better.

RESTAURANT B

7%

Coupons and Vouchers You know those coupons and vouchers you find in newspapers, magazines, online, and even in your mailbox? Use them! If you want to be truly organised and SaveMoney, collect and store them all in a folder.

You may find this tedious, but think of it as SaveMoney scrapbooking. Look at the expiry dates of the vouchers and coupons so you can plan in advance how to most optimally use them. We urge you to use your discretion in determining if the coupon or voucher is worth using.

For instance, 40% off a meal set may sound reasonable on paper, though completely ludicrous if you have to use half a tank of petrol to get there!

Food Promotion and Group Buying Websites

2C H 1 C EESE O ME 2 B KE AL UR GER SUB TAX TOTA L

8.0 5 3.0 0 0.4 0 11.4 0.4 5 0

Debit Cards with Dining Privileges Although there are far fewer dining privileges for debit cards than there are for credit cards, always keep track of all the latest dining promotions your debit card offers. If you’re lucky, you can get discounts of up to 50% at selected restaurants and dining establishments. This is no excuse to be a glutton and to spend and eat recklessly, so keep your wallet and appetite in check!

Another tip is to carefully study the terms and conditions of the promotion, since sometimes not all dinner items will be discounted.

There are numerous food promotion websites out there, easily accessible via a quick Google search. They are especially useful for price checks and comparisons, as well as keeping updated on the latest promotional offers.

Group buying websites also have good deals, but always be sure to check the small print and those pesky terms and conditions before you click “buy”.

The Closer the Better For wanderlust foodies, your desire to travel great distances for your grub is not financially sound. We recommend that you curb the impulse to wander far - unless you travel by foot or very cheap transportation - and remain relatively close to your residence. If you do so, you can significantly cut back on your transportation costs. Should you still feel the need to travel for your food, make sure to go to places that are easily accessible via public transport, so you can make full use of any student discounts.

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SEPTEMBER 2013

SM Student Edition

Student Edition

The SaveMoney Student Goes to Work

by May Chiam

I

n order to save more, you must generate income. A steady income stream will certainly help with your budget, especially if you want self-generated pocket money. There are many internships and jobs you can try your hand at; so long as you can manage your academic commitments on top of working, we encourage you to seek employment for both the experience and the extra income. Read on as we navigate the adventurous world of student internships and jobs!

P

IP A H S N R

INTE

ION T A C I PPL

Paid Internships

An internship, paid or not, is always a good learning experience. In order to “bulk up” your CV, you should definitely prioritise securing an internship. Whether you enjoy it or not, it will be an invaluable professional experience. Most internships provide an allowance for transport and other necessities. In the current market, you can expect anywhere from RM200 up to RM1000 monthly. If undertaking an internship is not a mandatory part of your degree course, you can always do one during your semester breaks. Although internships can be a good way to make money and more easily balance your budget, we encourage you to think of them primarily as a learning experience and a source of professional knowledge.

Tutoring For the highbrow, academic-oriented types, you can turn to what your sort does best: tutoring. Disseminate all that knowledge and make money while doing so! You can tutor struggling coursemates or your juniors, making sure to charge a reasonable hourly fee.

You can also work as a tutor’s assistant or a research assistant to one of your lecturers; if you plan on having an academic career, these positions will stand you in good stead.

Tutoring younger, non-varsity students at tuition centres can also earn you some extra cash, around RM30 per session. However, before you venture away from campus, do consider the cost of transportation.

Work on Campus Another good way to make some extra money is to work on campus. Since you’re already there all the time during the semester, why not see what jobs you can do to help out the staff?

You’ll be surprised at the range of jobs available for enterprising students. From working with the administrative personnel to being the librarian’s assistant, you can find many little jobs to do around campus. If you’re more outgoing and interactive, you can organise student functions and activities, which can sometimes lead to a handsome reward (Secret Fact: One of our SM interns managed to make RM1,200 in a semester merely by organising extracurricular activities!).

Typing Services As children of the digital age, you are no doubt more adept at typing than writing by hand! Use your skills as a typist to financial advantage and offer typing services to students who have limited access to a computer or who simply prefer to write longhand. You can charge anywhere from RM1 - RM3 per page. If it’s a 15-page paper, then that’s RM15 – RM45 earned.

SEPTEMBER 2013

SM Student Edition

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Student Edition Translate, Edit, and Proofread Translating theses and dissertations for your seniors is another option for bilingual students. You can charge RM0.10 or RM0.20 per word. If you’re especially good at spotting and correcting grammatical or typographical errors, you can also offer to edit and proofread into the bargain. For senior students, helping to edit or review the work of your juniors in more depth can be an illuminating experience for both parties.

Renting Out Rooms During the holidays, you can always rent out your room to students who stay on for the break. Provided you have an off-campus room and in-campus housing is unavailable during vacations, this is yet another great way to make money.

Around the Klang Valley, land value is high, so you can charge rental fees accordingly. Generally, the rental fee for your room depends on its size and location, particularly its proximity to campus. For a small room, you can charge around RM400 RM500 monthly; for a mid-size room, around RM600 monthly; and for a master bedroom, in the region of RM900 monthly.

Even if you charge lower, higher, or the same rental fee you usually pay, you’ll definitely be able to save on your own rent when you return to campus.

Printing Services Those with printers, be entrepreneurial and provide printing services to your fellow students. No one prints more than university students, so you’ll definitely have a market for your services. Out of sheer convenience, your regular customers will probably be your dorm mates, so ensure that you offer prices which are slightly lower than what the university does in order to keep them. If your printer can scan and photocopy as well, that’s even more money to be made!

Retail and Promotions For those broke fashionistas out there, working retail could be the right choice for you. Part-time or full-time, you can expect a staff discount on the shop’s merchandise; that way, you can cut down and save on your clothes budget. An hourly rate of RM5 – RM7 is the norm, at least in the KL area.

Doing road shows and working as a promoter will earn you even more in a shorter period of time. You can make around RM100 – RM120 a day by handing out flyers and free samples to the (somewhat reluctant) public.

Food Service Industry If you’re someone who lives for the massive consumption of food, think about working as a cashier, server, or part of the kitchen crew at your favourite restaurant.

You stand to earn around RM5 an hour, which is not too bad if you enjoy being close to large quantities of food. More importantly, you’ll probably be entitled to either free meals or a staff discount. Who says you can’t save money while you chow down on good food?

Student Cabs and Car Rentals So you’re one of the lucky few who owns a car. Do you have a GPS in that car or a keen sense of direction? If it’s yes to either, then start a student taxi service! Ferry other students to and from campus at lower taxi fares and attract more passengers. Once you have a bustling service going, you’ll end up with not only more money but also a new network of friends. If you don’t fancy the idea of running a student cab, you can always rent your car to other students who need to go out for the day. To draw more customers, charge them lower rates than what they would get at an actual car rental.

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SEPTEMBER 2013

SM Student Edition

Student Edition

Cheapest Prepaid Plans

Comparison of Prepaid Plans in Malaysia

by Balkish Rosly

A

s a student, you probably depend mostly on pocket money, allowances, and scholarships to survive campus life. Since communication is important to all human beings, we believe students also need to communicate. Whether to communicate with your lecturers, fellow classmates, or family members (sometimes girlfriends/boyfriends), you need to save on your phone bills! Save RM100s a year by choosing the right prepaid plan provider! Read this guide to find out the ultimate way to SaveMoney on your mobile prepaid plan.

Prepaid or Postpaid?

Whether you’re currently rocking the new smartphone or a simpler (but still amazing) mobile phone, deciding on the type of plan to use is tricky business.

When it comes to postpaid plans, you get hassle-free service without the risk of running out of credit. On the other hand, prepaid plans offer more versatility and use the Pay-As-You-Use billing concept, which frees prepaid users of being tied to any contract or monthly bill.

Ultimately, the type of plan that will save you the most amount of money depends on the kind of services you need for your mobile (i.e. do you need mobile Internet/3G services?) and your mobile (call/SMS) usage. So which plan should you use? Well, we did a bit of research and this is what we discovered:

Prepaid vs. Postpaid If you use your mobile phone frequently, the best way for you to SaveMoney is by using a postpaid plan that suits your needs. Even though the monthly commitment can be quite high (around RM50 to RM400), you will enjoy much lower call/SMS rates and SaveMoney overall.

However, if you are spending between RM20 to RM50 a month on your calls and SMSes, then going prepaid is definitely the best way to SaveMoney!

Jargons Made Easy Just to make it easier for you, here are some definitions of mobile jargons that might pop up in the article from time to time:

Monthly Commitment Fee The minimum fee that you have to pay every month regardless of your monthly usage. Example: Amir subscribed to Telco A 50 that has a minimum commitment fee of RM50. So Amir has to pay RM50 every month for his mobile bill, even if he only used RM30 this month.

Pay-As-You-Use A billing method where you only pay for what you use. Example: Network Provider A’s Internet data costs RM0.10 per 1MB. So if you use 2MB today, you will pay RM0.20 for your usage.

Why? Pay-As-You-Use Method vs. Postpaid Plans Pay-As-You-Use is a billing method that most prepaid plans have, where you basically pay for what you use. For ‘light’ users, going prepaid will make them SaveMoney compared to the lowest postpaid plans.

Here’s an example: Lily is a ‘light’ user currently subscribing to the Maxis Value First plan (cheapest available postpaid plan offered by Maxis) with a monthly commitment fee of RM30.

Rates for Maxis Value First (Postpaid Plan): Calls - (RM0.18/min to Maxis, RM0.20/min to all networks) SMS - (RM0.10/min to Maxis, RM0.10/min to all networks) Lily’s Average Monthly Usage: Calls – 50 minutes SMS – 50 SMSes Billed Amount: RM30.00 (minimum commitment) Actual Usage: RM14.50 (assuming usage is half to Maxis, half to others)

So at Lily’s average usage amount, she does not hit the minimum commitment fee level and will end up having to pay RM30.00 each month!

By comparison, if she chose to use the new Hotlink Prepaid Plan, her usage will only cost her around RM14 - RM16!

In conclusion, if your usage is quite low, committing to a postpaid plan will be more costly in the long run!

Postpaid Postpaid customers are those that are billed on a monthly basis and could be bound by a contract. All postpaid plans in Malaysia have a monthly commitment fee that needs to be paid monthly.

Network Providers They are basically companies that provide mobile services. A few examples of network providers in Malaysia are Maxis, DiGi, Celcom, and U Mobile.

Charging Block This is how the network providers charge your calls. Example: Telco A has a 30-second charge block. This means that you will be charged for every 30 seconds of your call. If the rate is RM0.30/minute, then your charge blocks will look like this:

Call Period

Charge Block

0 – 29 seconds

RM0.15

30 – 59 seconds

RM0.30

1 minute – 1 minute and 29 seconds

RM0.45

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SM Student Edition

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Student Edition The Prepaid Table Want to know all the prepaid plans available in Malaysia? Here they are!

Network Provider

Plan Name

Starter Pack (RM)

Preloaded Value (RM)

Call Charges (RM/per min)

SMS Charges (RM/per SMS)

MMS Charges (RM/per MMS)

Own Network

Other Network

Own Network

Other Network

Own Network

Other Network

Cost for 50 Minutes + 50 SMSes + 10 MMSes (half to own network and half to other network)

Celcom

XPAX24

8.50

5.00

0.28/3 minutes

0.28/3 minutes

0.02

0.08

0.15

0.35

RM9.50

Tune Talk

Tune Talk Prepaid

5.00

2.00

0.16

0.16

0.05

0.05

0.25

0.25

RM13.00

U Mobile

U Prepaid Plan

8.00

5.00

0.18

0.18

0.03

0.08

0.25

0.25

RM14.25

DiGi

Digi Best Prepaid

10.80

6.00

0.20

0.20

0.08

0.08

0.25

0.25

RM16.50

Tron

Tron Beon Lite

9.00

3.00

0.20

0.20

0.10

0.10

0.30

0.30

RM18.00

Maxis

Hotlink Social Edition Starter Packs (for balances > RM10)

10.00

RM5.00 credit / 50MB / free access to Facebook, Twitter, WhatsApp (5 days)

0.20

0.30

0.05

0.10

0.25

0.50

RM20.00

XOX

XOX Prepaid Plan

8.80

5.00

0.32

0.32

0.07

0.12

N/A

N/A

RM20.75

DiGi

DiGi Easy Prepaid

16.80

8.00

0.30

0.30

0.08

0.08

0.25

0.25

RM21.50

Maxis

Hotlink Social Edition Starter Packs (for balances < RM10)

10.00

RM5.00 credit / 50MB / free access to Facebook, Twitter, WhatsApp (5 days)

0.24

0.36

0.05

0.10

0.25

0.50

RM22.50

Internet Data for Prepaid Plans – Daily, Weekly, and Monthly Generally, the cost of surfing the web using prepaid credit is costly because of the Pay-As-YouUse method. If you want to SaveMoney on Internet data, it’s best if you use the available WiFi near your area and surf to your heart’s delight.

Alternatively, most prepaid plans provide daily, weekly, and monthly bundle plans that are cheaper than paying per data used. So if you already have a prepaid plan, these are the data plans for each network provider: Network Provider

Daily

Weekly

Monthly

DiGi

RM3 – 150MB

RM7 – 100MB

RM30 – 750MB

Hotlink

RM5 - 500MB

RM12 - 250GB

RM68 – 3GB

XPAX

RM5 - 500MB

RM18 - 1GB

N/A

*Tune Talk

RM0.88 - 50MB

RM10 - 200MB

RM38 - 1GB RM58 - 3GB

U Mobile

RM5 - 500MB

RM15 - 500MB

RM40 - 2GB RM68 - 5GB

TRON

RM1 - 30MB

RM5 - 150MB

RM18 - 600MB

XOX

RM3 - 100MB

N/A

RM38 - 1GB

However, if you intend to use a whole lot of data continuously (and not on a day to day, week to week basis), it might be worth having a look at the section below, where “All Rounder” plans are featured, as they typically bundle calls, SMSes, and data together in their prepaid plans. They are usually cheaper on a monthly basis than bolting on a separate internet plan.

RM68 - 3GB * Tune Talk internet bolt-ons are also inclusive of talk-time minutes

The Best Prepaid Plans for All Rounders (Internet Data + Calls + SMSes) So you have a smartphone and you require a plan that gives you internet data, calls, and SMSes all in one plan? We’ve got the comparison of network providers in the table below: Network Provider

Plan

Data

Minutes

SMS

MMS

Price

Notes

U Mobile

UMI 18

250MB

25

25

N/A

RM18

30 days validity. Unutilised minutes and SMSes will be carried forward.

U Mobile

UMI 28

500MB

100

30

N/A

RM28

30 days validity. Unutilised minutes and SMSes will be carried forward.

U Mobile

UMI 38

500MB

200

30

N/A

RM38

30 days validity. Unutilised minutes and SMSes will be carried forward.

U Mobile

UMI 48

2GB

100

30

N/A

RM48

30 days validity. Unutilised minutes and SMSes will be carried forward.

DiGi

DiGi Prepaid Smart Plan RM30 reload

600MB

60

60

30

RM30

30 days validity. All bundled quota can be accumulated until you hit maximum capacity: 2GB (Internet), 300 minutes (voice calls), 300 SMSes, and 200 MMSes.

Tune Talk The Cun Plan Monthly

1GB

60

N/A

N/A

RM38

30 days validity. Unused balance is NOT carried forward!

DiGi

1GB

100

100

50

RM50

50 days validity. All bundled quota can be accumulated until you hit maximum capacity: 2GB (Internet), 300 minutes (voice calls), 300 SMSes, and 200 MMSes.

DiGi Prepaid Smart Plan RM50 reload

Set a budget for your prepaid bill monthly. For example, I set a maximum of RM50 every month and strictly keep to it.

Sha

Take advantage of birthday privileges! If you are a DiGi user, you can get 50% bonus from you total top-up amount on your birthday.

Ivon

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SEPTEMBER 2013

SEPTEMBER 2013

Travel

Car Buying Guide D

Calculate Your Total Cost of Ownership!

egree? Done! First job? Secured! Naturally, the next thing to think about is… getting your own car! At least, that’s what most of us would do. But here’s the question: Can you actually afford it?

by Balkish Rosly

We at SaveMoney applaud you for saving up for those sleek wheels, but there are more costs to consider other than just paying the down payment. Just how much will these additional costs be? Get your calculator ready, because we are going to highlight each of these hidden costs just for you.

We hope this guide will help you manage your car finances in the future, so you can avoid stressful, hairtugging moments!

Getting a Car: Cost of Ownership Thinking of purchasing a brand new car? Take the following into account when you’re calculating your car budget : • Loan Financing • Road Tax • Motor Insurance • Fuel Economy (Petrol Costs) • Servicing Cost • Resale Value & Depreciation Cost

Loan Financing The most important factor you must consider when purchasing a car is the price! Unless you have the means to pay off the car in one lump sum, most people take up car loans to finance their chosen wheels.

If this is your first car purchase, you should find out all about your financing options. If you just started a job and have virtually no credit record, get someone (usually a parent) to act as your loan guarantor to help enhance your credit standing and enable you to obtain cheaper financing for your car.

Ways to Get a Car Loan Basically, there are two ways for you to get a car loan, either from a bank or from the car dealership.

Loan from the Dealership Each car manufacturer has its own authorised car dealers and usually its own panel of finance to make things easier for car buyers. If you’re satisfied with the interest rate given, then go for it. However, the best move before saying ‘I do’ to any of the suggested panel banks is to do your own research and call them up to ensure that you are eligible for the advertised interest rate. If taking up a car loan directly from a bank (minus the dealer’s association) gives you a lower rate, then apply for a car loan separately.

Example: Perodua’s Panel of Finance Institutions includes Affin Bank, Alliance Bank, AMBank, Bank Islam, Bank Rakyat, Bank Muamalat, CIMB Bank, Hong Leong, Public Bank, RHB Bank, Maybank Auto Finance, and Toyota Capital Malaysia Sdn. Bhd.

Pre-approved Car Loan from a Bank Depending on your credit score, different banks will assess your finances in different ways. Some may give you a higher interest rate, while others may give you a lower one.

The best way is to go to at least three different banks and try to get a pre-approved car loan from each. You can then compare them and see which suits you best.

The best thing about scouting for your own car loan without the dealer’s association is that it gives you the added benefit of knowing exactly how much you can afford - or if you can even afford the car that you want at all. Although dealers are mindful of your financial situation, their main focus is selling their cars, so they could push you into making purchases that you can’t afford.

Example : You’re looking to buy a Proton. The flat interest rate from a Proton dealer in association with Maybank ranges from 2.80% - 3.55% p.a., but a car loan from Maybank alone offers rates between 2.92% - 3.20% p.a.

Some people prefer one loan financing method to the other, but we encourage you to research both banks and dealerships so you can negotiate the best interest rate before sealing the deal!

Road Tax Aside from the monthly car instalments, as a new car owner you’ll also need to dig into your pockets to pay for annual road tax. The cost of your road tax depends on several factors: • Type of Vehicle Ownership • Type of Vehicle • Engine Capacity • Geographical Location (Peninsular, Sabah, or Sarawak) Tip: You can use The SaveMoney.my Malaysian Road Tax Calculator (online) to see your estimated annual road tax.

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Car Insurance

How Much is My Premium (Insurance Cost)?

Similar to road tax, your car insurance also needs to be renewed annually. There are three main types of car insurance : Third Party Cover This policy insures you against claims for bodily injuries or deaths caused to other persons (known as the third party), as well as loss or damage to third party property caused by your vehicle.

Third Party, Fire and Theft Cover This policy provides insurance against claims for third party bodily injury and death, third party property loss or damage, and loss or damage to your own vehicle due to accidental fire or theft. The coverage here is the same as Third Party Cover, with the added coverage of damages from fire and theft to your vehicle.

Car insurance does not come cheap, so do your research beforehand and avoid paying more than you should. Do your own calculations to avoid paying more on your car insurance with our Car Insurance Calculator (online)!

Comprehensive Cover This policy provides the widest coverage and is the most common type of insurance in Malaysia. With this policy type, third party bodily injury and death, third party property loss or damage, and loss or damage to your own vehicle due to accidental fire, theft, or an accident are covered.

Sa ve

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M

y on e on

Petrol C

ost s!

The calculations below do not include the condition of one’s driving. If you’re a speed devil, then your petrol costs will definitely increase!

Fuel Economy (Petrol Costs) Most people consider the car price, road tax, and insurance costs before buying a car, but are indifferent to petrol consumption or have a general belief about a car maker’s fuel economy rating (e.g. all Mazda models have poor fuel economy). Petrol consumption is inevitable no matter what car you drive, but you can actually calculate roughly how much money you need per month for your car’s petrol consumption!

As a rule of thumb, when quoted in km / L, you want a higher figure; whereas when quoted in L / 100km, you want a lower figure.

Fuel Economy Calculation Example: Let’s take a Perodua Myvi as an example.

Car

Myvi 1.3 Auto

Fuel Economy :

17.5km / L (combined)

Petrol

RON ’95 (RM2.10 / L)

Note : While the ‘combined fuel economy’ figures are usually viewed with scepticism around the world, we can justify the use of combined fuel economy here, since the majority of Malaysia’s urban and suburban population experiences a large proportion of roads as highways. Additionally, the majority of driving is based in cities filled with both roads and highways.

How do you calculate your petrol costs? Let’s assume that you’ll be driving around 20,000 km per year.

Based on a 20,000km Range Per Year: Your Fuel Consumption is = 1,142.85 Litres Per Year 20,000 / 17.5 Petrol Cost Per Year : 1,142.85 Litres x RM2.10 (RON 95 - price per litre)

=

RM2,399.98 Per Year (roughly around RM200.00 per month)

Thus if you have your heart set on a car, get its fuel economy specifications from the car dealer and take your petrol costs into consideration!

Servicing and Maintenance Yet another cost factor that people rarely include when calculating their car costs is the service and maintenance cost. For new car buyers, if you already have a specific car in mind that fits your budget, check the service warranty period. Next, contact the service centre and check the service and maintenance package price before purchasing the car, making sure to include the cost into your budget!

Most people think Malaysian-made cars are cheaper to maintain compared to foreign cars imported from the Far East and Europe. While this is largely accurate, it has more to do with the average price of the vehicles and the abundance of service stations, rather than being a measure of reliability.

Needless to say, foreign luxury brands like Mercedes, BMW, and Audi will cost a great deal more.

Our team of nerdy experts have done some quick calculations among the major car manufacturers, coming up with a quick and dirty rule of thumb to estimate your car’s basic servicing cost (assuming two services per year):

Car Price < RM50,000 ≈ 0.8% - 1% of Your Car Cost If your car cost is below the RM50,000 mark, expect to pay at least 0.8% - 1% of the car price yearly for your servicing and maintenance purposes.

Cars > RM50,000 ≈ 0.6% of Your Car Cost If your car cost is above the RM50,000 mark, expect to pay at least 0.6% of the car price yearly for your servicing and maintenance purposes.

SEPTEMBER 2013

Travel

Car Depreciation Cost Depreciation is the difference between the amount you spend when you buy a car and the amount you could get back when you sell or trade it in.

Why Do I Have to Consider the Depreciation Cost?

You have to consider this because cars are assets which depreciate upon usage and the passage of time. Unlike most assets such as property, your car will start depreciating from the moment you purchase it and will continue to lose its value every year.

By just how much will it depreciate? It is impossible to know exactly how much your car will cost in the next three, five, or ten years, but generally you can expect to lose up to 15% of the value of your car each year.

Cost of Depreciation Example Jared purchased his Myvi SE 1.3 Auto in July 2008.

Car : Myvi SE 1.3 Auto Year of Manufacture : 2008 Year 2008 Price : RM51,812.00

Tips

A second-hand Myvi with the same specifications as above costs only RM34,980.00 (mileage : 45,000km) in July 2012. So if Jared wants to sell his car, his depreciation cost is (RM51,812.00 – RM34,980.00) / 4 years = RM4,208.00 per year.

to Decrease Your Car’s Depreciation Cost

Although you can’t prevent your car from depreciating (i.e. sell it for the same price you bought it), you can try minimising your car depreciation with these tips: Buy a car with neutral external colors such as black, white, and silver.

These colors will most likely still be popular in a couple of years and will therefore sell for more.

Buy a car with safety and comfort features such as central locking, alloy wheels, a CD/MP3 player, navigation equipment, parking assistance, and an anti-lock braking system. Useful features improve resale value.

Buy a car that has good fuel economy. With most people fearing a rise in the price of petrol, they will look for a more fuel-efficient car.

How Much Does Your Car Actually Cost?

So with all these costs in mind, how much do you actually need in order to buy and maintain a car? Again, let’s take Perodua’s Myvi as an example :

Keep your car clean and well serviced. You will get better resale value if your car is well kept.

Car Car Price (September 2013)

Try keeping your mileage as low as possible, because this will also increase the resale value of the car.

: Myvi 1.3 Auto : RM44,924.30

Loan Financing Panel Bank Interest Rate Down Payment (10% of Total Car Price) Loan Amount Loan Repayment Period Monthly Instalments

: Maybank : 2.9% p.a. : Round up to RM5,000.00 : RM39,924.30 : 60 Months (5 years) : RM761.89

Total Interest Cost Total Cost of Vehicle Purchase

: RM5,789 : RM45,713.30

Park your car in a garage and consider buying a cover for protection.

A well-maintained car will sell for more.

Fuel Economy (Petrol Cost Yearly) Per Year

≈ RM2,399.98

Road Tax (Payment Yearly)

Over 5 Years ≈ RM11,999.90

Area Price Cost Over 5 Years

Servicing Cost (Twice Yearly)

: Peninsular : RM70.00 / year : RM350.00

0.8% of RM44,924.30 ≈ RM360.00 (RM180.00 per service) Over 5 Years ≈ RM1,800.00

Depreciation of vehicle At 15% per year plus reducing balance, your estimated resale value will be about RM20,000.00.

Total Cost of Ownership: RM45,713.30 + RM350.00 + RM3,835.00 + RM11,999.90 + RM1,800.00 – RM20,000.00 = RM43,698.20 over the 5 years This is around RM8,739.64 each year just to buy and own a car! Obviously these figures are for illustration purposes only. Ultimately, the exact figures will depend on your specific car model and usage.

Motor Insurance (Payment Yearly) Assuming Type of Vehicle Type of Coverage Location First-Year Sum Insured Total Premium

: Private Car : Comprehensive : Peninsula : RM 40,000.00 : RM1,261.35 in first year

Including NCD and depreciation reducing sum insured, the estimated cost over 5 years is RM3,835.00.

So there you have it! Be sure to put all these costs into your budget when you’re choosing a car to buy!

Other Costs Two other things that should be taken into consideration are your daily toll charges and parking fees. Since toll and parking costs are independent of car choice, we didn’t include them in our calculations here. However, toll and parking fees are unfortunately necessary costs and tend to vary depending on where you go.

19

20

SEPTEMBER 2013

SaveMoney Traveller

The SaveMoney Traveller Goes to..

by Eeman Teoh

Bangkok

I

f you’re a wanderlust soul at heart (yours truly), travelling and spending are perhaps the best indulgences in life. A backpacker or a flashpacker will definitely require a budget for each trip. I don’t belong to any class of traveller. I prefer to travel within my own comfort zone and with my own budget. While going on holiday is always fun, it’s certainly not license to splurge unnecessarily!

There are numerous ways to save on less important expenses so that you’ll have extra money to spend on what you really want. In this monthly column, I’ll share with you my SaveMoney travelling tips and experiences, from spending only RM380 for a 10-day trip in Bali, Lombok, and Gili Trawangan to surviving a 2 million Dong robbery in Vietnam.

In every issue, we’ll feature an interesting travel destination and the average amount for the whole trip to give you an idea of the budget required. This month, let’s go to Bangkok, Thailand for 3 days and 2 nights! Bangkok is one of the world’s top tourist destination cities.

Bangkok has innumerable attractions, including temples, markets, palaces, and museums, ensuring that visitors with any interest will find something to keep them entertained on their Bangkok holiday.

I went to Bangkok during the famous Songkran festival. The Songkran festival is celebrated in Thailand as the traditional New Year’s Day from 13 to 15 April. The most obvious celebration of Songkran is the throwing of water upon others. The water symbolises the washing away of everything bad, so you can be clean and purified to start a new year. If you are planning to go during this time, be prepared to get wet! Since tourists and Thais anticipate this annual event, be sure to also book flights and hotels well in advance.

Grand Palace Assume Depart from Kuala Lumpur to Bangkok per pax; SaveMoney Budget

Mid-Range

Splurge

Air Fare (return/pax)

RM350 - RM600

RM600 - RM1,000

RM1,000 - RM2,000

Accommodation 3D 2N

RM150 - RM200

RM200 - RM450

RM450 - RM3000

Transportation

RM50 - RM80

RM80 - RM150

RM150 - RM600

Meals

RM90 - RM100

RM100 - RM150

RM150 - RM900

Entrance Fee for Attractions

RM17 - RM25

RM25 - RM80

RM80 - RM250

Total for 3D 2N

RM657 - RM1,005

RM1,005 - RM1,830

RM1,830 - RM6,750

Budget Traveller: Budget airlines (AirAsia, Jetstar, Tiger etc.), Hostel-2star hotels, public transportation, walk around, take tuk-tuks, enjoy local food, visit free attractions or those with minimal fees (donations) like the temples.

Bangkok is the capital and the most populous city of Thailand, with modern infrastructures and dependable rail networks and national highways that connect the city to the rest of the country. Getting around is easy. I used public transportation throughout my trip and found that it was fast and efficient. Furthermore, travelling by rail is cheap, comfortable, and very convenient, especially when compared to braving Bangkok traffic jams! The BTS Skytrain, The MRT, Airport Rail Link, and just walking around added to the enjoyment of my trip.

You can get to Chatuchak Weekend Market, the world’s largest weekend market, easily via rail. The market covers an area of 27 acres altogether and is divided into 27 Sections; it contains more than 15,000 booths selling goods from every part of Thailand. The reason I took rail was to save so I could really spend on souvenirs here. Visiting the Thai Wats (Buddhist temples in Thailand) is a must, since they are one of the most prominent attractions in Bangkok besides the floating markets. Most attractions can easily be reached by rail. So if you want to visit Bangkok in the near future, maybe for the Loi Krathong festival (in November), check out these figures:

Damnoen Saduak Floating Market

estival

thong F

Loi Kra

mple BTS - Skytrain

dhist Te

o Bud Wat Ph

Tip Songkran Festival

Start a dedicated travel fund. Create a new account with your bank called “I’m outta here” and feed it monthly, weekly, or even daily! Make it easy to transfer money over from another account; every time you go online to check your balance, transfer some more money. Make it fun. Make it a habit. Make it natural. Make it painless. Revel in its growth!

21

SEPTEMBER 2013

How much is your card going to cost you?

A

ll credit cards will cost you in fees and charges. Fixed charges accrue no matter your spending and payment behaviour (unless otherwise stipulated by the bank) but variable charges will only be levied based on usage.

earn RM24,000 or more per year

above the age of 21

working at least 3 months.

Charges Fixed Annual fees

Variable

Service Tax

Interest charges

Late payment fees

Cash advance fees

Charge for overseas usage

Credit card insurance premium

Fixed charges: Annual fees and Government service taxes are fixed fees which will be charged according to your credit card agreement. Some banks do offer waivers at their own discretion.

Variable charges: Though all credit cards have interest rates; these are only chargeable when you are carrying a balance. Late payment fees will be charged when you miss payments on your card; overseas charges will apply when using your card overseas and cash advance fees are charged when you withdraw cash from an ATM using your credit card. Some banks provide optional credit card insurance so if you agree; you will be paying premiums monthly.

Entertainment

Online Shopping

Travel

For women

Expression

Card/issuer Citibank Clear Visa

Hong Leong Mach Visa

UOB Vox Visa

• 1%-10% cashback depending on chosen category.

• Customise your cashback package.

• Add cashback categories to your package for an extra RM5 per quarter.

• 5% cash rebate on online retail spends.

• Smart$ cash rebates at selected shopping and dining merchants.

RM100

RM160

RM72 (RM6 per month)

RM180 (RM15 per month)

(after 3 swipes in 60 days)

ü

ü

û

û

First year and subsequent years waived after 12 swipes

û

û

ü

Subsequent years waived after 12 swipes

û

ü

Income Required RM24,000 per annum

ü

ü

Benefits

Annual Fee First year waived

• Discounts and privileges at Zouk and Coffee Bean.

• Complimentary tickets at TGV, GSC and Cathay.

• 3x rewards points for selected merchants

RM90

sm-rplus-getting-your-first-credit-card-2-outline.indd 1

RHB EVO Visa • 20% cashback for entertainment spending (cinema tickets, bowling alleys, theatre, etc).

• 2x rewards points on all e-commerce transactions (shopping online!)

Standard Chartered WorldMiles MasterCard

RHB Travel Money Visa

• Earn 1 Enrich/AirAsia BIG/ • Earn 1 Enrich mile for KrisFlyer points for every every RM3.50 spent.

RM3 spent locally or RM2 • For select airline tickets, spent overseas. cruises and car rentals; • 15% off on holiday tours get 1 mile for every via Asia Travels.com.

RM1.75 spent.

• 15% off on car rentals • 25% discount on Plaza through Hertz.

Premium Lounges in Malaysia and 20% for Plaza Premium Lounges worldwide.

• 5% cashback on 1st weekend of every month and 2% cashback on all other days at any petrol station.

UOB Lady’s Classic Card Alliance Bank You:Nique MasterCard • Exclusive discounts at beauty, wellness, shopping, and entertainment outlets.

• Smart$ cash rebates at selected shopping and dining merchants.

• UNIRinggit Rewards programme. Earn 5 point for every RM1 spent in Singapore, Thailand and Indonesia

• Choose between cashback rebates of up to 3% on all spending; 9% per annum interest rate; or 2x rewards points for all local and overseas spending.

• Design your own card face with a picture of your choice.

RM70

RM68

RM148

ü

û

û

û

(at least one swipe per month)

ü

û

ü

û

ü

û

û

û

û

û

û

ü

ü

ü

ü

ü

ü 3/9/2013 5:50:06 PM

22

SEPTEMBER 2013

SaveMoney Top Product Tables

Top Product Tables

Finance Top 1-month FD Rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rate

Effective Interest Rate

Interest on RM50,000

Bank Rakyat

Akaun Deposit-I Makeen

Standard

RM5,000

3.26% p.a.

3.26% p.a.

RM134

Affin Islamic Bank

General Investment Account-i

Standard

RM5,000

3.06% p.a.

3.06% p.a.

RM126

Affin Bank

Affin Bank Fixed Deposit

Standard

RM5,000

3.05% p.a.

3.05% p.a.

RM125

Maybank

Maybank Fixed Deposit Account

Standard

RM5,000

3.00% p.a.

3.00% p.a.

RM123

Top 3-month FD Rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rate

Effective Interest Rate

Interest on RM50,000

OCBC Bank

OCBC Mega Save

CASA

RM15,000

4.50% p.a.

3.96% p.a.

RM488

Bank Rakyat

Akaun Deposit-i Makeen

Standard

RM500

3.65% p.a.

3.65% p.a.

RM450

Hong Leong Bank

Golden Opportunity Casa FD Promo

CASA

RM10,500

3.30% p.a.

3.15% p.a.

RM390

Affin Bank

Affin Bank Fixed Deposit

Standard

RM500

3.10% p.a.

3.10% p.a.

RM383

Top 6-month FD Rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rate

Effective Interest Rate

Interest on RM50,000

Kuwait Finance House

KFH International Commodity Murabahah Deposit-i 6-month FD Promo

Standard

RM20,000

3.80% p.a.

3.80% p.a.

RM941

Bank Rakyat

Akaun Deposit-i Makeen

Standard

RM500

3.75% p.a.

3.75% p.a.

RM929

Affin Islamic Bank

General Investment Account-i

Standard

RM500

3.26% p.a.

3.26% p.a.

RM808

Affin Bank

Affin Bank Fixed Deposit

Standard

RM500

3.25% p.a.

3.25% p.a.

RM806

Top 9-month FD Rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rate

Effective Interest Rate

Interest on RM50,000

MBSB

Fortune For You â&#x20AC;&#x153;CASAâ&#x20AC;? 9-Month Fixed Deposit

CASA

RM10,000

4.20% p.a.

3.87% p.a.

RM1,446

Bank Rakyat

Akaun Deposit-i Makeen

Standard

RM500

3.85% p.a.

3.85% p.a.

RM1,437

Affin Islamic Bank Berhad

General Investment Account-i

Standard

RM500

3.35% p.a.

3.35% p.a.

RM1,252

Affin Bank Berhad

Affin Bank Fixed Deposit

Standard

RM500

3.35% p.a.

3.35% p.a.

RM1,252

Top 12-month FD Rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rate

Effective Interest Rate

Interest on RM50,000

Bank Rakyat

Akaun Deposit-i Makeen

Standard

RM500

4.01% p.a.

4.01% p.a.

RM2,005

Kuwait Finance House

KFH International Commodity Murabahah Deposit-I 12 Month FD Promo

Standard

RM20,000

3.80% p.a.

3.80% p.a.

RM1,900

Affin Islamic Bank Berhad

General Investment Account-i

Standard

RM500

3.61% p.a.

3.61% p.a.

RM1,804

Affin Bank Berhad

Affin Bank Fixed Deposit

Standard

RM500

3.60% p.a.

3.60% p.a.

RM1,800 Source: SaveMoney.my, Banks (As of 31st August, 2013)

Technology A Comparison of Prepaid Call Rates Among Network Providers in Malaysia Network Provider

Prepaid Plan

Call Charges (RM/per min)

SMS Charges (RM/per SMS)

MMS (RM/per MMS)

Same provider

Other provider

Same provider

Other provider

Same provider

Other provider

Celcom

XPAX24

0.09

0.09

0.02

0.08

0.50

0.50

DiGi

DiGi Easy Prepaid

0.30

0.30

0.08

0.08

0.25

0.25

Maxis

Hotlink Starter pack

0.20

0.30

0.05

0.10

0.25

0.50

U Mobile

Starter pack

0.18

0.18

0.03

0.08

0.25

0.25

Tune Talk

Tune In

0.10

0.10

0.05

0.05

0.25

0.25

XOX

Prepaid Plan

0.15

0.15

0.05

0.10

-

-

Tron

First Super StarterPackage

0.15

0.20

0.10

0.10

0.30

0.30

SEPTEMBER 2013

SaveMoney Top Product Tables

23

Top Product Tables International Direct Dialling Rates from the Top Malaysian Network Providers Country

Maxis

DiGi

U Mobile

Celcom

Country Code

Fixed (RM/min)

Mobile (RM/min)

Fixed (RM/min)

Mobile (RM/min)

Fixed (RM/min)

Mobile (RM/min)

Fixed (RM/min)

Mobile (RM/min)

India

+91

RM0.16

RM0.16

RM0.52

RM0.62

RM0.58

RM0.58

RM0.52

RM0.62

Thailand

+66

RM0.12

RM0.18

RM0.18

RM0.43

-

-

RM0.18

RM0.48

Australia

+61

RM0.16

RM0.80

RM0.18

RM0.93

RM0.28

RM0.98

RM0.18

RM0.92

China

+86

RM0.10

RM0.12

RM0.18

RM0.48

RM0.28

RM0.58

RM0.18

RM0.48

Hong Kong

+852

RM0.16

RM0.16

RM0.18

RM0.48

RM0.28

RM 0.58

RM0.18

RM0.48

Indonesia

+62

RM0.28*

RM0.28*

RM0.52

RM0.72

RM0.58

RM0.98

RM0.52

RM0.72

Macau

+853

RM0.46

RM0.46

RM0.50

RM0.50

RM0.28

RM0.58

RM0.18

RM0.38

Philippines

+63

RM0.48

RM0.48

RM0.74

RM0.78

RM0.58

RM0.58

RM0.74

RM0.76

Singapore

+65

RM0.10

RM0.10

RM0.18

RM0.48

RM0.28

RM0.58

RM0.18

RM0.48

South Korea

+82

RM0.16

RM0.16

RM0.18

RM0.43

RM0.28

RM0.58

RM0.18

RM0.43

United Kingdom

+44

RM0.16

RM0.90

RM0.18

RM0.93

-

-

RM0.18

RM0.92

USA

+1

RM0.18

RM0.18

RM0.18

RM0.18

-

-

RM0.18

RM0.18

* For calls from 12am - 6am, rates are RM0.16/min for both Fixed and Mobile lines.

A Comparison of Monthly Prepaid Internet Data Packages Among Network Providers in Malaysia Network Provider

Monthly

DiGi

RM30 - 600MB

Hotlink

RM68 - 3GB

Celcom

RM28 - 300MB RM38 - 1GB RM58 - 3GB RM88 - 5GB

Tune Talk

RM38 - 1GB

U Mobile

RM18 - 250 MB RM28 - 500MB RM38 - 500MB RM48 - 2GB

XOX

RM18 - 300 MB RM38 - 1GB

International Unlimited Daily Data Roaming Rates from the Top Malaysian Network Providers Country

DiGi (RM)

Maxis (RM)

Celcom (RM)

Tune Talk (RM)

Australia

36

33

38

-

China

36

-

38

-

Hong Kong

36

33

38

38

India

32

33

38

-

Indonesia

36

33

38

38

Macau

36

33

38

38

Philippines

36

33

38

38

Singapore

36

33

38

38

South Korea

36

33

-

-

Thailand

32

33

38

-

United Kingdom

56

-

38

-

USA

56

-

38

-

RM68 - 3GB Tron

RM18 - 600MB

HTC One Cheapest HTC One 12-month Plans with Data in Malaysia Network Provider

Plan Name

Device Price

Contract Period

Monthly Data Quota

Minimum Monthly Fee

Rebate

12-month Cost of Ownership

Maxis

SurfMore 50 (Maxis Online Store)

RM1,919

12-months

2GB

RM50

0

RM2,399

Maxis

SurfMore 75 (Maxis Online Store)

RM1,849

12-months

5GB

RM75

0

RM2,629

Celcom

Celcom First Prime + Mobile Internet Basic

RM1,888

12-months

1GB

RM78

0

RM2,824

Maxis

TalkMore48 + 1GB (Maxis Online Store)

RM1,899

12-months

1GB

RM96

0

RM2,931

Device Price

Contract Period

Monthly Data Quota

Minimum Monthly Fee

Rebate

24-month Cost of Ownership

Cheapest HTC One 24-month Plans with Data in Malaysia Network Provider

Plan Name

Maxis

SurfMore50 (Maxis Online Store)

RM1,749

24-months

2GB

RM50

0

RM2,829

Maxis

SurfMore75 (Maxis Online Store)

RM1,499

24-months

5GB

RM75

0

RM3,179

U Mobile

Ultimate Device 68

RM1,828

24-months

3GB

RM58

0

RM3,220

DiGi

DG Smart Plan 58

RM1,829

24-months

4GB

RM58

0

RM3,221

U Mobile

Ultimate Device 98

RM1,568

24-months

4GB

RM78

0

RM3,440

Source: SaveMoney.my, Telcos (As of 31st August, 2013)

24

SEPTEMBER 2013

APPLY NOW www.ocbc.com.my/cash

or text ‘CASH’ to 36222