iMoney Releases Two Game-changing Products To Lower Your Cost Of Living

cost of living

If you find yourself reminiscing the good old days of paying only RM1 for a packet of nasi lemak, or RM8 for a haircut at the barber – you are not alone. Whether we like it or not, the cost of almost everything that we pay for on a regular basis – food, transportation, property, rent, health insurance – is rising much faster than salaries are.

In a survey ran by iMoney in October 2015, we found the rising cost of living (87%) was the pre-eminent concern for Malaysians, while 39% was still apprehensive over the high property prices.

If the rapidly rising living cost goes unchecked, not just the lower income group will be negatively impacted. In fact, the middle class will slowly slide down in our society and languish in poverty.

It’s not as simple as price hikes, but the rising cost of living has a knock-on effect on other areas, such as housing affordability. When the 6% Goods and Services Tax (GST) was implemented in April last year, inflation picked up as a result.

Combined with the weakening Ringgit, Malaysia’s inflation in July spiked at 3.3%, and it continued to inch up. The consumer price index (CPI) in February 2016 rose to a seven-year high at 4.2% from a year earlier.

As consumers there’s really nothing much we can do to stop inflation or the escalating cost of living. Sure, we can make smarter spending choices, compare products before we purchase, be more frugal and manage our budget optimally – but despite all that, inflation will still go up.

You will still be paying RM2 for a piece of roti canai, when you paid only about RM1.20 in 2006. What we can do now is eat one piece of roti canai, instead of two pieces like we really wanted to, just to curb our spending.

So, what can we do to save ourselves and our finances before we are swallowed up by the perpetual price hikes, GST, and stagnating income?

What if we told you there’s a way to stop paying for GST, or put your money in an investment that gives you enough returns to pay for everything in prices from the 1990s?

It’s real and it’s spearheaded by iMoney – because we understand how important good financial products can help us excel in our finances!

iMoney ZERO GST Credit Card

If paying an additional 6% on almost all of your expenses pushing your finances down? It’s not surprising. Here’s the real effect of GST on our finances:

Annual cost
Before 6% GST
With 6% GST
Food & beverage
Beauty & health
Private tuition classes
School supplies
Medical insurance
* List of living expenses are non-exhaustive


Based on the non-exhaustive list above, we are already paying RM1,060 more on our living expenses compared to our expenses before GST. There are many other things that we spend on a yearly basis that has increased in prices and also GST taxable, that are not included in the list.

This is one of the biggest reasons you find yourself broke every month now. Here’s how you can save thousands of Ringgit on GST!

How does the iMoney ZERO GST Credit Card work?

The iMoney ZERO GST Credit Card gives you instant rebates on GST on all retail spending, every day. Neither is there minimum spending requirement nor, cap on rebates.

imoney zero gst

The iMoney ZERO GST Credit Card doesn’t just help you save on GST, it also helps you cut expenses on toll, and helps you finance your children through the supplementary card cashback!

iMoney Rewind Fund

Even without GST, prices of things are still going up at an alarming pace. What if you can turn the hands of time with the first of its kind fund that lets you enjoy the prices of goods in the 90s – NOW?

Inflation has increased by 52.59% from 1995 to 2016. This means the item in the basket of goods used to calculate CPI have increased in price by more than 50%. What this means, in the most simplistic way is, you will need to pay RM25 more now for the same item that used to cost RM50 in 1995!

We may not notice it as the year goes by, but the price of goods have snowballed and the cost of living has reached a point where even the upper-middle class of the population is feeling the pinch.

The iMoney Rewind Fund, funded by donation from foreign donors, is created to help us cope with the rising cost of living – by reverting the prices of goods today to the prices of goods in 1999.

Here’s how you can invest to offset the rising cost of living

Invest your money in this fund, and get guaranteed return according to the real inflation rate. You don’t have to worry about rising costs anymore.

imoney rewind fund

The iMoney Rewind Fund will be invested into a variety of professionally managed equity/growth funds. With consistent and guaranteed returns of 18% (at the time of launch). The best thing about this fund is, you don’t have to monitor or worry about how your investment is doing, because it aims to cover all your expenses, so that you will always be paying the price from 1999!

With this fund, you’ll always be living in the good old days now!

We are all destined to be financially free, and with these products, it’s just became so much easier!

iMoney has always been at the forefront of financial literacy for Malaysians, and we identify with your difficulties in recent years. These two one-of-their-kinds financial products aim to alleviate some of your pain in managing your finances well.

* Please note this was an April’s Fool joke in 2016. 

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