How the Bank (Staff) Sweet Talk and Cheat Your Money

I would like to share with you my personal losses due to the following bank technique:

1. Balance Transfer and Personal Loan.

I took a balance transfer program from RHB Bank 1 year ago, with 6% /annum interest rate.... This bank is cheating..... the 6% is "FLAT RATE" which translate to about 12% "Reducing Interest Rate".

Nevermind that, they have a staff call me up asking me whether to take the personal loan..... without carefully asking for detail, i being sweet talk into it. This was one of the painful lesson I learned. Because this bank "COMBINE" both Personal Loan and Balance Transfer Program into the same account!

The results.... every month, when i make payment, it pays the personal loan..... The Balance Transfer Loan just "Stuck There" and "Suck my blood" without being pay......

As a results..... I pay MORE than the amount as compared to not making a balance transfer at all. RXX Sucks.....

And I also make mistake before with OCBC Bank. I took a home loan with Standchart. During that time, I was paying RM 850/month. After moving to OCBC, we pay only RM 720/month..... but go to hell OCBC..... For the last 2 years, we were only paying the "Interest" only. out of the RM 720 we paid, RM 600 go to interest and RM 120 go to reduce capital.....

But, every year, about RM 200 was deducted from the account for FIRE INSURANCE..... as a result..... we feed the lion only.... Now, switching to EON BANK is much better.

Hope can get better and better everyday....

Norm'C

Not everyday is a good day!

As I was winning thousands a day, I started to sabotage my success. Recently, I loss thousand a day.

Share market is a gamble. Not everyday can be or will be a good day, a winning day.

I was not demotivated or dissappointed, as i was not excited nor motivated when i won big 2 weeks ago.

Will try to strive for better results.... soon..... next week....

(guess have to pay more attention to my salary paid job to avoid redundant)

The lesson from Money Mastery

Why aren't most people wealthy?

1) They never clearly define wealth
2) They make it a moving target
3) They define it in ways that make it feel impossible to achieve.
4) Consequently, they don't believe they can ever really achieve it.
5) They never make it an absolute MUST.
6) They don't have a realistic plan.

The scary universe "SECRET"

I put down in my previous entry that..... I want to earn RM 1,000 / day....

The end results.... after putting down the entry..... i earn RM 1,000 / day for 3 consecutives day....... from the KLSE market....

Can you belief it's that powerful?

I want to make the RM 1,000 a daily affair instead of "some of the day" thing.

Let's make the effort....

Regards,

Norm'C

The stunning question..... How to earn RM 1,000/day

Most people are aiming too low or too high.

For those who aim to low, they will be satisfy at an earning of RM 1000+/month. They have this limiting believe that they doesn't have the qualification, hence, doesn't deserve the a pay of RM 3,000 per month.

For those who doesn't have the qualification (university degree), you must learn to "add value" to yourself AND OTHERS. I am not saying go and join some NGOs like Toastmasters and you will worth more, I am saying, ADD VALUE.... contributing, organise, build your social network and contribute to your piers and organisiation.

For those who have the necessary qualification, and are earning a decent salary of few K/month. You all are in the "comfort zone". you are lack in motivation and courage to step outside and try new things...... because it is risky..... once fail, you will face financial problem and so on. Just like what i did 5 years ago.

I "learn my lesson.... aka..... not successful..... aka fail".

After 5 years, I climb back to a higher point compared to 5 years ago.

Now, the stunning question that I had in my mind at the moment is : "How to earn RM 1,000 per day consistantly".

I am earning RM 100+ per day at the moment. Hopefully, I can soon earn 200+ per day, and 500+ per day and soon 1000 per day.

What is this strategy? It sounds too far for earning RM 30,000/month. if you break it down into smaller chunk, it sound achievable and hence you have the confident to do it.

Now that I have this question in my mind, I want to follow through and achieve the said target.

All the best to me!

Norm'C

Dear Shane

Thank you for following my blog!

It is a great pleasure to know you! You have a very clear idea what you want in live in such a early stage of life.

Time is money! by starting early, you have all the "extra" to fail.

Not many can really answer "what do you really want in life?" and yet, you do!

I create this blog so that I can refer back from my "previous experiece", good or bad. I didn't plan to let people know my "secret", but since you have discovered my blog, I guess i will have to kill you , you may continue to wait for my update!

I learn that I am not a blog person after my attempt to create and update my blogs.

For latest update, please be patient!

Norm'C

Ups and Down

Recently, I am experiencing multiple UPs....

1. Able to get 7k from share market.
2. Getting married.
3. Being offered the opportunity of life time.
4. Being offered "dream job" of life time, and I am still at one.
5. Getting better in health.... somehow i can feel it.
6. Having a meaningful life....
7. Going to UPW again.
8. Going to Singapore twice in September.
9. Having completed my term as President with no regret and proud to announce that "I am a leader".
10. Manage to get a loan to cover all my credit card debts.
11. Central Plaza is doing great!
12. My family members are doing great!
13. My loves on seems to love and appreciate me MORE!
14. My public speaking skills have improved tremendously.
15. I have a "sweet home".
16. I have a "sweet wife".
17. I have a new best friend.
18. My web-skill is good.
19. I got my second grade engine cert, and 2nd grade steam cert!
20. I got a "special bonus" of RM 600.
21. My father is doing good.
22. My investment in Bird House looks excellent!
23. The list can go on, and on, and on!

In short, I am doing great!

and my "bad luck" is.... loosing few hundreds in Share Market! that's all.

Life's like that..... if you focus on the bad things, you will never be happy.

Let's be happy, let it be today! let it be now!

Best on everything to all of you!

Norm'C

MRTA

Many of us, when sign the Loan Agreement, the "Licensed Loan Shark" will ask us to buy a MRTA (Mortgage reducing term insurance).

More then often, we switch the loan to other loan account, and the other "licensed loan shark" will ask you to buy another MRTA.

What happen if you got 2 MRTA? Nothing.... you just pay for nothing.... the original "licensed Loan Shark" doesn't benefit from your MRTA and they have no obligation to refund your MRTA.

You have to ASK! you have to search High & Low for the original MRTA copy! and CANCEL IT and ask for refund!

This usually amount to a few Thousands ringgit. You are paying the few thousand ringgit EXTRA! that serve no purpose!

Remember to claim it back!

Brilliant Idea?

I have took up a 200k loan to settle my credit card debts. It's a brilliant idea? or just pull us to greater depth of debts?

Recently, 2 business proposal appears in front of me. actually 3 proposals. Don't know to take it or not.

1. Cyber cafe - the partner is not realiable.

2. Hotel business - payback period is long. let me think about it again.

3. Swiflet farming - I am in. My financial independant depends on this.

All the best to us!

Living from paycheck to paycheck..... again!

Money is not everything

When you don't have money, usually money can solve your problem!

E.g. when you are broke, and your girl friend (or her family) don't want you.... is usually because you are broke. once you have money, most likely your problem will be solved.

E.g. when you are broke, and you are damn sick, usually the solution are there, is just money issue, you need money for operation, you need money for living expenses etc. Mr. Money can help you.

E.g. when you are unhappy while you are broke, your unhappiness is mostlikely because of limited fund instead of other problem. Money is your best friend!

When you have money, it's the time where money cannot solve your problem!

E.g. You girl friend dump you... she dump you probably because of your personality or erational disfaction.

E.g. when you have money, your health issue is usually cancel, diabetes, high blood pressure, kidney failure, AIDS, high colestrol level etc. Those sickness that money only drag your life longer, but cannot be cure! Those are the "Richman sickness". Poor fellow usually have no such issues.

E.g. When you are unhappy, it's more likely that is not money related. i.e. Money cannot solve your problem.

Money is poor man's best friend and rich man's worst enemy.

Norm'C

PS. Once again, I am living between paycheck and going back to the rat race. How can I repay my 60K credit card? bird nest is the answer.

Did your bank officer told you?

I must admit i was not having enough financial intelligent back then....

but now, things are different. I learn a lot! and now, I am teaching you F.O.C.:

1) Did you read your bank loan agreement the moment you sign on it? most likely not. The lawyer firm clerk ask you to sign on the last page and initial on each page. How many of you have the same experience? say ai...

2) Do you immediately get a copy of your loan agreement after you sign it? most likely not. Because the clerk will tell you, they need the lawyer's signature, then, they have to go to IRD to pay the stamp duty. They will mail you a copy after it was done?

3) After the agreement is received, did you check on the T&C? most likely not, because it arrive the time you are busy, btw, it's already 1 month past, it's no longer in your attention to look carefully onto the T&C.

That is the first mistake.

1) Did your bank officer tells you about the exit penalty? how much was it?

2) Did your bank officer tells you about how the interest is calculated? What will happen if you pay more?

3) Did your bank officer explains to you how BLR work? and you might end up paying more if BLR goes up?

4) Did your bank officer tells you about the Mortgage reduction term assurance work (MRTA)? Under what situation you can claim and how to claim etc?

5) Did your bank officer explains to you what will happen if your payment is defaulted.

6) Did your bank officer tells you how to reduce the interest? How to finish your term loan sooner?

7) Did your bank officer explains the statement to you? that you are paying too much interest?

8) Did your bank officer gives you a repayment schedule?

For my case, I was cheated by the bank.... yes, literally cheated.

I am going to go strait to the point to teach you how to save interest.

1) Increase your monthly repayment amount. For doing this, you need to go to the bank and fill up a form. I bet your bank officer never told you, right?

2) Withdraw EPF and do capital repayment.

3) Currently, most bank are giving a much better deal then previous year. You need to go to ask your banker, to reduce to interest rate.

If you want to know more, contact me.

Norm'C

Another SMART project from BN Government!

2009/03/03
Flash floods wreak havoc in KL, thousands strandedBernama

KUALA LUMPUR, TUES:
Thousands of people were left trapped and stranded either in buildings, bus stations or light rail transit stations in the capital city following flash floods after a downpour since 3pm.

Not so smart after all. Where is the SMART tunnel? Not working?

I saved RM 300 on bank interest

Due to current economic situation, the bank has revised BLR from 6.75 previously to 5.55 effective 2nd March.

As a result, i saved RM 300+ per month for the next few years.

Thank you bank negara for the big Ang Pow.

I shall achieve financial freedom in 10 years time.

Norm'C

Government Cheated Our Money

Imagine, I got RM 200 increment, and I got RM 150 different for subscribing less to EPF.

How much more do I make every month? RM 350? wrong, guess again. RM 300? Wrong, lower.
RM 250? No, is RM 202.

The damn Malaysia government just taxed me more. Stealing from the poor.

Since the purchase of the diamond ring, I loss my cash flow.... I would like to pay of my CIMB credit card, but I can't.

Angry? Disappointed? No.... I shall work harder...

Norm'C
The courage to be wealthy, bring out better life.

I got some money at this moment

Due to my father, he gave me some money, I am okay a bit.

I just got hold of Ice Box, 32" LCD TV, Aircons x 2, washing machine, and i paid the renovation fees.

I now, must make full use of my money wisely, or else, i will never be rich enough to attain financial freedom.

And, I still look forward for my part-time teaching job.

All the best to you all.

Regards,

Norm'C

I finished ALL my money

I though i saw a pussy cat!

no, i didn't see a pussy cat, in fact, i saw nothing. I finished everything i have. I mean money.

and there are 10 more days to Pay-Day and 50 more days to the next pay-check.

I have few thousands just a couple of day ago, but my spending is too fast and too furious.

I want things to get better, help me!

Norm'C