By saving, you can reach your long-term financial goals.
Investing in ASNB funds is an easy way to save, made even easier today thanks to online channels.
SAVINGS are important because they provide a financial safety net. They lead to greater financial independence and reduce stress related to money. People who have a healthy savings are well prepared for unexpected expenses or emergencies, be they an untimely hospital bill, car repairs or leaking roof.
By saving, you can also reach your long-term financial goals, such as buying a home, paying for education, or settling down into a comfortable retirement.
Savings also equate to financial resources to pursue your dreams without being held back by monetary constraints – for example, if you’re planning to start a business, your savings can give your starting capital a boost.
However, in order to achieve your dreams, and to build up your savings, you will require lots of discipline, focus and a plan! After all, it takes a lot of discipline to be able to consistently set aside a certain amount of money every month and not spend it on the latest phone or fashion accessory!
Ever heard of the 50-30-20 rule? Simply put, this is a budgeting guideline where 50% of your income is allocated to necessities, 30% to discretionary spending, and 20% to savings. It aims to help individuals balance their expenses while prioritising savings and debt reduction. If you can, you should even try and automate saving 20% of your income every month!
Savings also equate to financial resources to pursue your dreams without being held back by monetary constraints.
Next, you will need to focus on your goals. You can fuel up as many dreams as you want with multiple savings, but it is wise to remember that big goals take a long time to achieve.
Of course, you will also need a good plan in place. Where, or how, do you plan to save your money? Investing is a great way to build your wealth and secure your financial future. However, with so many investment options available, it can often be difficult for someone to choose the right plan – you’ll need to do your research and make your choices carefully.
Thankfully, there are low risk investments such as Amanah Saham Nasional Berhad (ASNB) fixed price funds (ASB series and ASM series), which are suitable for long-term goals. Investing in a low-risk investment, such as ASNB funds, is one of the best ways to ensure that your money is safe while also earning a healthy return on your investment – on top of that, you will also have peace of mind knowing your money is managed by professionals with more than 40 years of experience.
Unlike ASB and ASB 2 which have individual account limits of up to RM300,000 each, ASM is harder to get and can only be bought based on availability of the units. However, from now until July 31, 2023, all Malaysians can invest up to RM100,000 in ASM thanks to the increased fund size of RM5 billion. This is to encourage Malaysians to prioritise savings and make prudent use of low-risk investment opportunities such as ASM.
Investing through online channels has also become increasingly popular in recent years because it is so simple, and has many other benefits including:
• Convenience: Online investment platforms allow investors to invest in ASNB funds from the comfort of their own homes, without the need to physically visit a branch or agent.
• Speed and efficiency: These platforms provide fast and efficient access to investment information and account details. Investors can quickly check their portfolio performance, make new investments, or redeem their units in just a few clicks.
• Better control: Investing in ASNB through online channels gives investors better control over their investment decisions as they can easily monitor and make adjustments to their portfolio.
With so many benefits, it makes sense to start saving by investing in ASNB. All you have to do is download the myASNB app on your phone to get started.
Stand a chance to win great prizes in the Simpan Vaganza Online Campaign.
Ultimately, saving is all about planning for the future. By putting money aside now, you're investing in yourself and your goals. And with a little discipline and a lot of dedication, you can make those dreams come true. So, start saving today and stand a chance to win great prizes in the Simpan Vaganza Online Campaign.
The Simpan Vaganza Online campaign runs from now until Feb 29, 2024, and all you need is to make a minimum online investment of RM500 in any of ASNB’s funds via myASNB, Maybank2u, HLBConnect, AffinAlways , RHBNow, CIMBClicks or AmOnline.
