Sponsoring a Child: Will it make any difference (PLAN Australia)?

There’s one charity organisation that I like here in Australia. The name of the organisation is PLAN Australia.

PLAN Australia exists to combat poverty around the world. One thing that I like about PLAN Australia is that they don’t discriminate people based on their religion or political beliefs.

One of the programs that they have is the child sponsorship program. With just around AUD43 per month, you will be funding the well being of a child and his/her community.

What do you guys reckon? Can sponsoring a child really make a difference?

Share your thoughts below.

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How to utilise one’s life?

If you were going to spend a mighty proportion of your life doing something, would you rather be doing something that you like and passionate about even if you need to be facing some extra hardships and pain?

Perhaps choosing what you like doesn’t apply at all? Perhaps choosing the most stable and safest option is the way to go?

One might argue that we need to make some sacrifices in our lives and we are sometimes faced with the challenge of not being able to do what we want to do. However, the need to go through the hardships and pain in the pursuance of your passion is a sacrifice in itself, no?

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The importance of financial education

I think I wrote about this before but it’s okay, I’ll talk about it again. Hopefully, it can also remind myself of the importance of financial education.

I’m always an opponent of the notion of “giving away money for free”. It’s fine to hand out money to a financially intelligent person as I am confident that they’ll be able to expand their wealth using that initial capital but I am less confident if it was a person with lack of financial education.

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Is Multi-Level-Marketing (MLM) all that bad?

There’s a post about Multi Level Marketing (MLM) that I wrote before. Generally, I’m not really into the whole MLM business (though this could change in the future), as you can see in that post. However I do see quite a lot of merits with MLM.

1. Ability to Network

In the MLM business, you get to meet a lot of people from different walks of life. By doing this, you’re establishing a vast network of business contacts that can be utilised in your future undertakings. Contrast this with stock trading (one of the activities that I’m doing right now) where the only person I talk to is my broker/remisier.

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What’s deterring me from staying in Australia

Previously, I wrote about the reasons that could potentially lead me to stay in Australia.

Now, I’ll list out some reasons that might bring me home to Malaysia.

1. I predict that it’ll be hard for me to get a job

The economy is pretty bad here. Many companies are laying off their workers. On top of that, I am pretty academically challenged (i.e. my academic results are not that great). So, I predict that it’ll be hard for me to get a job here. Also, to get a permanent good-paying job in Australia, you need the Permanent Residency status. To apply for PR, you have to spend a few thousand dollars. If I won’t be able to secure myself a job, spending a few thousand dollars would be a waste of resources, no?

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What’s deterring me from returning to Malaysia

Here’s another one for the ‘Australia or Malaysia?’ series.

This time, I’ll lay out the reasons that could potentially deter me from returning to Malaysia.

1. Spending Power

It is in my opinion that by staying in Australia, I have greater spending power than if I had gone back to Malaysia. Indeed, in certain areas, things are more expensive here in Australia (like rent, insurance, property prices), but generally, I dare say that you’ll be able to spend more in Australia.

Let’s assume that if I work in Australia, my starting pay is AUD4,000 and also assume that if I work in Malaysia, my starting pay is RM4,000 (which I think is hard to get anyway).

Now, let’s compare the prices of some ‘luxury’ goods (I’ll compare the prices of necessities in my future post). In this instance, we’ll look at a few items. Here they are.

– Toyota Yaris ($20,000 in Australia and $107,000 in Malaysia)
– Nikon D300 SLR Camera ($2260 in Australia and $4650 in Malaysia)
– Nikon 18-200mm Camera Lens ($1029 in Australia and $2685 in Malaysia)
– Nokia E71 ($575 in Australia and $1000++ in Malaysia)

Why am I comparing ‘luxury’ items? Well, once in a while, I will be purchasing these goods right? When that time comes, my spending power will be more in Australia.

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Trade to Survive, Not to be Profitable

Talking about trading, there’s one thing that I learned from a very good trader in Australia.

“You trade to survive, not to be profitable.”

What that means is, you need to set it clear in your mind that you are here to survive in the long run. Aim to preserve your capital first. Take the whole notion of profitability out of the equation for a little while. True, at the end of the day, profitability is all that matters but remember this, if you survive in the long run, profitability will be drawn to you automatically.

If you aim for profitability alone and you want it fast, that’s when impatience starts to kick in. This is then followed by greed. As a result, self destructive behaviour will start to take control.

Moral of the story: Patience is virtue.

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Where do I stand now? Financially speaking of course.

I’ve been blogging about financial freedom for nearly 2 years now. I’ve started my journey towards financial freedom for even longer than that. So, where do I stand now, financially speaking?

Trading

I’ve been trading stocks and CFDs for nearly 4 years. I’ve been able to stay profitable for all these years, and hopefully for a very long time.

I’ve reduced my trading stake due to the lack of certainty we’re having right now. I’ve already reinvested quite a significant proportion of my profits into a new business venture.

So far, for the past few months, my trading account has been advancing, but very very slowly. Snail pace.

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Additional Units for Amanah Saham Malaysia (ASM) and Amanah Saham Wawasan 2020 (ASW 2020) in 2009

Additional units have been announced for two PNB-managed funds. There’ll be an additional 2.22 billion units for Amanah Saham Malaysia (ASM) starting from April 21, 2009, and another 2 billion units for Amanah Saham Wawasan 2020 (ASW 2020) starting from April 27.

However, maximum allowed per investor is 20,000 units.

Have a look at The Star article here.

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