Asset vs Liability

What does the word asset and liability mean to you? For academician and accountant, asset are catogarized into difference type, such as fixed asset, current asset, liquid asset, financial asset and so on. For those who study accounting and finance you know how tough it is when come to reconciliation of financial statement. But in real world, just make it simple and this is my opinion. Anything that puts money into your poket, it's an asset. Anything that drains out money out of your pocket, it's a liability.

If you purchase a vehicle, would you consider it as an asset? How about purchasing a house? To me, as lot as it draining out the money from our pocket it never been an asset. So if we keep on paying monthly instalment for the vehicle we purchase then it is a liability. Unless that vehicle generate positive income especially to business owner then it is an asset.

Some people bought second or even third house as an investment. This property infact is not an asset as long as it don't generate income to them. Not until the sell off the house and get net income or rent out the house at the higher rental fee comparing to the monthly instalment. Eitherwise they have to settle the monthly instalment and other charges and at this point it is a liability to them.

That why the rich acquire assets while the poor and middle class acquire liabilities. Therefore it is very important for us to have a clear understanding and know the difference between an asset and liability.

Financial Tips - Credit card trick.

Please read the fine print thoroughly.

The late payment charge is 1% of the total outstanding balance as at statement date, subject to a minimum of RM5 and maximum of RM50.

I was flipping my credit card statement when i stumble upon this fine print. Then I found out that I've make a miserable mistake. Just because of mising the the figure RM14.20 I was penalized for RM42.84. It might be not a large sum of money but it can make us a millionaire...seriously...(4D,6D.... for that sense)

Let look how this happen;

May statement;

Min. payment = RM214.20
Payment done = RM200.00
outstanding bal=RM 14.20

June statement:

Previous bal. =RM4284.07
late charges =RM 42.84 (1% of Pre. bal), due to outstanding balance(short payment) of RM14.20 in May.

Lesson from the scenario;

1. Always pay your minimum balance on time.
2. Never pay less than minimum balance not even a single sen
3. Make sure to keep track on spending and payment thoroughly.

* start charting down all the financial interests/charges arising from credit card every month. The figure will increase your headache.

perjalanan kegelapan ku....

wajah mu kelihatan suram
tiada keserian cahaya menyinar
begitu tebalnya masalah mu
sehingga menutupi kecerian mu

sekali sekala ku menoleh ke arah mu
dalam usaha melelapkan mataku
namun kedegilan mataku
memaksaku terus menatap wajahmu


hanya dikau menjadi temanku
mengiringi perjalanan kegelapanku
tiap pekan dilalui dihitung
namun yang pasti distinasiku masih jauh

penumpang penumpang lain dibuai mimpi
tapi aku jangan impi nak bermimpi
cuma ku bayangkan terminal bus Sibu
subuh nanti baru sampai

09.09...tarikh penting.

09.09...Tarikh penting dalam hidup saya..... tarikh lantikan pertama ke jawatan tetap, tiga tahun kemudian pada tarikh yang sama, disahkan ke dalam jawatan. kepada sesiapa yang tarikh lahirnya jatuh pada tarikh ini... Happy birthday..

Flash back... where I started blogging.

Pagi tadi aku bisi nerima surat ari HQ. Laban jarang nerima surat ari HQ, nya aku asai nervous mimit. Enti bisi surat ari sida ia mesti bisi pengewa ia ka berat deka di gaga. Tak udah aku buka lalu meda nya surat penghargaan lebuh kami ka bisi gawa ba RWMF ba Kampong Budaya Sarawak. Ke buah aku, flash back laban nya meh entri ia ke terubah aku berblog. Entri ia ka terubah aku nulis ianya aktiviti ba Kampong Budaya Sarawak. Nyadi, tok meh hari engau peristiwa ia ka bersejarah ba dunya blogging aku. Historical date and event for my blogging world.

Kuching city, Sarawak

Raun ba pasar Kuching lebuh pagi hari enam tok tadi. Bejalai ba St Thomas Cathedral laban bisi Parish sale dia. ke puas aku jalai dia, ngu jalai mega ba sarawak museum. tok meh sekeda gambar ia ka bisi d ambi maia nya..

Musium seni

Museum Sarawak, old building pix taken around 8 am


The Sarawak museum old building was built in 1891 and was extended to its prresent form in 1911, display local natives arts and crafts and collection of local animals.







Merdeka palace back view.




Merdeka Palace Hotel side view



Merdeka Palace Hotel is strategically located in the heart of Kuching city fronting the Padang Merdeka.

Parking Lot, St Thomas catheral

The history of St Thomas Cathedral started way back in 1848. An area of jungle covered hill behind the old town was given to the church by the Rajah in August 1849. Dr McDougall, the first Anglican missionary then, erect a fine wooden church.

Tulip...symbolizes many thing.

Tulips are associated with Holland. It is a flower in the genus Tulipa comprising about 150 bulbous species. One day I will fly to Holland just pluck tulip flower. great dream off course.... but I don't need so as I have one right at my own backyard.

Raya sales up to 70%

lebuh hujung minggu tok tadi raun ba pasar kuching....

ukai ka ngau kaban kitai raya.. tang meda mayuh amai sale.. bisi sekada 70%, lalu nyau meh org bebeli ka barang. tok meh utai ulih d jengkau ka aku..

Financial Tips - Home Finance software.

This is what I bought many years back. It was part of my must-do daily task. If not, at least once a week. But now, it has been abandon. Why does this happen? No obvious reason for that. But the fact is that I have lost track of my financial record.

The main purpose why i purchased this software is to track my income and expenditure statement. Start managing your money right away! That is the main purpose of this software.

Visualized graph showing catogrized expenditure.

It not my intention to promote this software but i would like to share the benefit that it offer. Organise and manage your accounts without stress. Update and monitor your daily income and expenditure in the budget table. Visual graph display the distribution of your average monthly budget. List all your daily earnings and espenses. Tick off all your transactions on-screen against your bank statements. Plan your monthly expenditure.

The main drawback is to record our daily expenditure. Basically because we all are great spender untill we don't have time to jot down every single cents we spent. Most of us received fixed monthly income but we are given 30/31 days to spends it. But if there is a will, there is always a way. So if you are commited and have high determination to manage your money well, this software will help you.

Personal Financial Planning.

My blog is about everything. You can't caragorized it specifically. I write whatever I want. Even the language i used is as which i wish. It a mixture of everything. This is my blog so whatever it is it is my way. Whatever strike my mind, that issues will i write. So today as i flip over my old file, accidentally I read my old financial planning cum monthly so called budget, i.e income vs expenses statement. It great ideas so I just scrible the old note book where I study before.

I have been very fond of personal financail planning for many years. Many reason for this. Basically I study a lot about finance and economic which probably influence me a lot. Personal finance always my favourite subject,. Simply because I find it so difficult and hard time during empty wallet. As a proverb says " The haviest wallet a man carry is an empty wallet" Believe me, without a cents/ddollar in our wallet it hard for us to make a move. How could we shopping without money, right.

I have read many books, magazine, article related to money include local author Azizi Ali books. All are very great and motivating books, but the reality is damn difficult to implement the theory. I have tried many ideas and suggested theory but still fail.

So back to my old scrap, it reminded me back that I should start practice charting my income and expenses. i suggest reader should do that. It helps us to keep track of our espenses. So we can track some of the unnecessary expenditure which drain out our money from our wallet. It also helps us to look for opportunity to create more income. Work harder/smarter, do productive part time job and etc,, to earn extra money. It help us to see strength in ourself. The expenses part will help us see our weakness in term of bad spending habit.

Finally, and most important is to see how much we spend and save every month for our own retirement fund, childrren education fund, emergency fund, investment and leisure. Think about it!!! SAVE BEFORE SPENT.

HAPPY MERDEKA AND SALAM 1 Malaysia for all Malaysian.