I had quite a conversation with a fellow Facebooker a couple of days ago. It was regarding handling the escalating cost of living in the city. In that particular heated discussion, many recommended people to be thrifty and lead a frugal lifestyle, which I find rather shallow.

To be honest, earning more money to raise your standard of living via smart investment is easier than scrimping and saving. Merely saving and keeping the money stagnant in the savings account will not help you to improve your financial situations, but proper investments will help to generate more revenues to sustain a higher standard of living.

Applying strategy before making in any form of investment is very important to avoid unnecessary risks and loss. Here’s a couple of things that I would like to highlight before making an investment:

Knowing your target investment: You must do your homework and research before deciding on the form of investment that you would like to take. Don’t jump the bandwagon just because certain form of investments like Forex is a trend, or just because someone coax you to do so, but make investment because it can really be profitable to you in the long rub.

Return of investments: Decide on whether you want a long term investment or a short term investment.

Know your limit: Count your figures and set a limit to your investment. It must not be 60% more than your monthly income. Investing 10% of your income is good, 30% of your income would be better. But whatever amount you decide, do not gamble and play it safe, especially if you are investing in the share market.

Consult the experts: Consult the experts before making any big investment. Risks is always there when it comes 5o investing your money, but never ever make a decision without consulting the experts beforehand and ensure that your cash flow is healthy.

Consider making a personal loan: Consider making a personal loan if you would like to invest big. Some may advice against this but if you play it right, it is a calculated risk that could fetch you an optimal revenue. There are plenty of website that you can lookup should you consider making a personal loan eg: Mbsb personal loan. One of it is this one: https://www.personalloan.com.my/. This website is not only user friendly and easy to navigate both via desktop and mobile but is packed with all the information that you need if you are considering to apply a personal loan, so do look them up.

Saving money for the rainy days is good, but why opt to live a frugal life instead of investing and making more money to raise the standard of living? Do give it a thought, and whatever you do, I wish you all the best in your financial endeavour.