Malaysia Money Matters

Latest op-eds like "60% of Penangites cannot afford to buy houses" and the perennial favourite "Graduates cannot afford properties" really get my goat. Seriously. Am so fed up with all the whining the newspapers do about this issue. Fed. Up. Frankly, why we are even using a fresh graduate salary as a benchmark for purchasing property? They shouldn't be buying one fresh out of university anyway. If you just started work - this is what you should be doing: Rent a room, not an apartment - A ROOM. Save money. Build up your savings. Build some more savings. Depending on your job location, you may need to buy your own transport - either a bike or a small car. Keep it cheap first, OR get a second hand car (make sure you ask around for a reliable mechanic!) Buy an apartment or a flat first. Don't buy a new property, buy one that suits your needs and your budget and is in a high demand location for rental - this usually means high density but with c

It was bound to happen eventually - the lax way the government wastes money, leakages everywhere and so on. In the long run, this downgrade is probably a good thing. It is a wake up call that we have to DO SOMETHING concrete to move our economy to the next step! Off the top of my head, with but a stroke of a pen, the government should: Impose GST - not just to broaden the tax base but to create more oversight into businesses; lets face it, there's way too much cooking of the books. How can business tax be almost equal to personal income tax? (Govt tax revenue sources by petroleum: business: personal is roughly 33:35:32) Shut down / tightly control the money changers and remittance houses - they are the key channel for fund leaving the country under the radar. Banks have to monitor and report to Bank Negara on fund flows but these organisations don't have to. Why? And it's already proven that funds from corruption by politicians have left the country this way. So