KnowThyMoney's Simple Automated Money Management System

Posted by Kris | Saturday, September 07, 2013 | , | 0 comments »

time is money
Time is money

As life gets busier, I do have my own money management system to keep track of all my finances. A good money management system is very important to avoid losing your mind trying to piece all together your assets, cash, shares, stocks, etc. It allows you to know your total net-worth roughly easily.

Just a few simple steps that I want to share with you all.

1. Use online banking to do any money related transactions

Now with online transfer between different banks is just only RM0.10, I am heavily taking advantage of this. All my payments are done online such as credit card, loans, bill payments, etc. This saves me alot of time. I also do multiple transfer from by salary account.

See post below for some additional security feature for interbank internet money transfers. You want to avoid sending money to the wrong person. I still know some of my peers still queuing up at post offices or TNB just to pay their bills. I told him about online transactions to save time but yet people still does not want to change!!! Sheeh..

2. Put your emergency cash into your property's flexi-loan account 

I put most of my emergency funds into my flexi-loan accounts. Besides reducing my interest loan payments, it puts my idle money to good use. One more good thing is that I managed to consolidate all my properties' loan under the same commercial bank!! So it is easier for me to juggle my money around various accounts and also putting sufficient extra money into the flexi-loan account for auto-debits every month.

And I can withdraw my money ANYTIME from my flexi-loan account without any penalty or additional fees.

I am using this simple trick previously to save on my income tax too.

3. Use an Android App to keep track of your KLSE stocks

I don't really feel secure using my brokerage's apps to do trading/viewing on my mobile phone as I believe that mobile security is still very immature at this moment.  So I found the best next thing & it is FREE FREE FREE!!: It has also a few very good feature which is the fundamental screener.

KLSE (Bursa) Stock Screener is an online tool to help you analysis Malaysia Stock Market better without difficulty.
- Price Alerts (New! Long touch at Watchlist for menu. Android 2.2 and above)
- Watch your stocks closely in your watchlist in real time
- Widget for Watchlist (App must be in Internal Storage)
- Provide stocks' financial reports of more than 10 years
- Includes: PE, ROE, Dividend Yield, EPS, NTA, etc
- Stock Historical Chart (5 years, +volumes, zoomable on fullscreen)
- EOD of 30 days.
- Filter and find the stocks base on the criteria.
- World Indices & Market Equities
- Fees Calculator (Basic, rates settings can be changed)
- Companies Announcements
- Companies industry, engagement summary.
- KLCI daily info.
- Headlines
- Profit & Loss
- Target Prices
Thank you for all the feedback. Rest assured that all the feedback is taken into development consideration as the app is growing.

Go get it here.

Android app on Google Play

iOS App on AppStore