{"id":22959,"date":"2016-04-01T00:00:47","date_gmt":"2016-03-31T16:00:47","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=22959"},"modified":"2024-12-24T12:41:31","modified_gmt":"2024-12-24T04:41:31","slug":"imoney-releases-two-game-changing-products-lower-cost-living","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/imoney-releases-two-game-changing-products-lower-cost-living","title":{"rendered":"iMoney Releases Two Game-changing Products To Lower Your Cost Of Living"},"content":{"rendered":"<p>If you find yourself reminiscing the good old days of paying only RM1 for a packet of <em>nasi lemak<\/em>, or RM8 for a haircut at the barber \u2013 you are not alone. Whether we like it or not, the cost of almost everything that we pay for on a regular basis \u2013 food, transportation, property, rent, health insurance \u2013 is rising much faster than salaries are.<\/p>\n<p>In <a href=\"https:\/\/www.imoney.my\/articles\/budget-2016-survey-malaysians-buckle-under-the-rising-cost-of-living\" target=\"_blank\" rel=\"noopener\">a survey ran by iMoney in October 2015<\/a>, 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.<\/p>\n<p>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.<\/p>\n<p>It\u2019s 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.<\/p>\n<p>Combined with the weakening Ringgit, Malaysia\u2019s 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.<\/p>\n<p>As consumers there\u2019s 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 \u2013 but despite all that, inflation will still go up.<\/p>\n<p>You will still be paying RM2 for a piece of <em>roti canai<\/em>, when you paid only about RM1.20 in 2006. What we can do now is eat one piece of <em>roti canai<\/em>, instead of two pieces like we really wanted to, just to curb our spending.<\/p>\n<p>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?<\/p>\n<p>What if we told you there\u2019s 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?<\/p>\n<p>It\u2019s real and it\u2019s spearheaded by iMoney \u2013 because we understand how important good financial products can help us excel in our finances!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"iMoney-ZERO-GST-Credit-Card\"><\/span><strong>iMoney ZERO GST Credit Card<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If paying an additional 6% on almost all of your expenses pushing your finances down? It\u2019s not surprising. Here\u2019s the real effect of GST on our finances:<\/p>\n\n<table id=\"tablepress-344\" class=\"tablepress tablepress-id-344\" aria-describedby=\"tablepress-344-description\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><center>Item<\/center><\/th><th colspan=\"2\" class=\"column-2\"><center>Annual cost<\/center><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><center>Before 6% GST<\/center><\/td><td class=\"column-3\"><center>With 6% GST<\/center><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Food &amp; beverage<\/td><td class=\"column-2\"><center>RM6,000<\/center><\/td><td class=\"column-3\"><center>RM6,360<\/center><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Entertainment<\/td><td class=\"column-2\"><center>RM2,000<\/center><\/td><td class=\"column-3\"><center>RM2,120<\/center><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Beauty &amp; health<\/td><td class=\"column-2\"><center>RM3,600<\/center><\/td><td class=\"column-3\"><center>RM3,816<\/center><\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Private tuition classes<\/td><td class=\"column-2\"><center>RM2,400<\/center><\/td><td class=\"column-3\"><center>RM2,544<\/center><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">School supplies<\/td><td class=\"column-2\"><center>RM3,000<\/center><\/td><td class=\"column-3\"><center>RM3,180<\/center><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Medical insurance <\/td><td class=\"column-2\"><center>RM1,000<\/center><\/td><td class=\"column-3\"><center>RM1,060<\/center><\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\"><b>TOTAL<\/b><\/td><td class=\"column-2\"><center>RM18,000<\/center><\/td><td class=\"column-3\"><center>RM19,060<\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<span id=\"tablepress-344-description\" class=\"tablepress-table-description tablepress-table-description-id-344\"><i>* List of living expenses are non-exhaustive<\/i><\/span>\n<!-- #tablepress-344 from cache -->\n<p>&nbsp;<\/p>\n<p>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.<\/p>\n<p>This is one of the biggest reasons you find yourself broke every month now. Here\u2019s how you can save thousands of Ringgit on GST!<\/p>\n<p><strong>How does the iMoney ZERO GST Credit Card work?<\/strong><\/p>\n<p>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.<\/p>\n<p><a href=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2016\/03\/1_mini-infographics-April_s-Fool-Infographics.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-22983\" src=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2016\/03\/1_mini-infographics-April_s-Fool-Infographics.png\" alt=\"imoney zero gst \" width=\"800\" height=\"3046\" srcset=\"\/articles\/wp-content\/uploads\/2016\/03\/1_mini-infographics-April_s-Fool-Infographics.png 800w, \/articles\/wp-content\/uploads\/2016\/03\/1_mini-infographics-April_s-Fool-Infographics-300x1142.png 300w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p>The iMoney ZERO GST Credit Card doesn\u2019t 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!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"iMoney-Rewind-Fund\"><\/span><strong>iMoney Rewind Fund<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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 \u2013 NOW?<\/p>\n<p>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!<\/p>\n<p>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.<\/p>\n<p>The iMoney Rewind Fund, funded by donation from foreign\u00a0donors, is created to help us cope with the rising cost of living \u2013 by reverting the prices of goods today to the prices of goods in 1999.<\/p>\n<p><strong>Here\u2019s how you can invest to offset the rising cost of living<\/strong><\/p>\n<p>Invest your money in this fund, and get guaranteed return according to the real inflation rate. You don\u2019t have to worry about rising costs anymore.<\/p>\n<p><a href=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2016\/03\/2_mini-infographics-April_s-Fool-Infographics.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-22984\" src=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2016\/03\/2_mini-infographics-April_s-Fool-Infographics.png\" alt=\"imoney rewind fund\" width=\"800\" height=\"3314\" srcset=\"\/articles\/wp-content\/uploads\/2016\/03\/2_mini-infographics-April_s-Fool-Infographics.png 800w, \/articles\/wp-content\/uploads\/2016\/03\/2_mini-infographics-April_s-Fool-Infographics-300x1243.png 300w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p>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\u2019t 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!<\/p>\n<p>With this fund, you\u2019ll always be living in the good old days now!<\/p>\n<p>We are all destined to be financially free, and with these products, it\u2019s just became so much easier!<\/p>\n<p>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.<\/p>\n<p><strong><span style=\"color: #ff0000;\"><em>* Please note this was an April&#8217;s Fool joke in 2016.\u00a0<\/em><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are your finances going down to drain? The culprits are most probably GST and the ever rising cost of living. We bring to you two products that can solve all your financial issues!<\/p>\n","protected":false},"author":9,"featured_media":21048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,227,1,218],"tags":[],"class_list":["post-22959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cards","category-credit-card","category-investment","category-money-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>iMoney Releases Products To Lower Your Cost Of Living<\/title>\n<meta name=\"description\" content=\"Are your finances going down to drain? The culprits are most probably GST and the ever rising cost of living. 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