The drop and rise in Malaysian currency is impacting people and business in various ways. Slow demand, business has become stagnant.
As a consumer, we should be more rational rather than emotion when it comes to spending money. Differentiating between wants and needs is important than ever to help in creating an effective budget and be a money-savvy person.
Bankruptcy has become common in Malaysia with 60 Malaysians being declared bankrupt every day according to BBC news report. 47% of young adult between age 18-35 have serious debt and those aged 35 years and above are making the biggest number of bankrupts in 2012.
In today’s global economy, concentrating on solely one source of income can leave you vulnerable, when the source of income goes away, you would be in high risk of poverty. Diversifying your source of income would help you to be more income stable when facing economic challenges. If something happen to any one of the source, you still have some other source to live with. For example when Toys R Us start selling diapers to attract customers during slow selling session.
What does it mean to diversify?
#1. Sell a new related product or service
Example: Celestial Seasonings, known for selling tea, began selling coffee.
#2. Adopt existing products or technology.
Example: The military Humvee was converted to the consumer Hummer; the makers of Arm & Hammer baking soda sold Arm & Hammer Baking Soda Tooth Powder.
#3. Offer a new unrelated product or service.
Example: The Virgin retail chain went into the airline and mobile phone businesses.
#4. Offer products or services that compete with your suppliers or customers.
Example: Armani opened retail stores; Netflix began producing and distributing
If your goal is a financial independence, here is a solution for you
Shaklee Malaysia launches a program begin in May 2015 until October 2015 called YES (Young Entrepreneur System) in creation of new entrepreneur among Malaysian.
Be an entrepreneur with Shaklee YES program:
1. Low startup with only RM69 to register yourself as a Shaklee Member
2. As a new member, you gain 1 FREE bottle of Vita-Lea worth RM94 with a purchase of an item
– Vita-Lea was in the market since 1915 known as ‘Vitalized Mineral’ and this year mark its 100 years in the market. A bottle of Vita-Lea is given for free for new enroller as a gift of its 100 years of Innovation celebration.
3. More saving when you purchase the Wellness Pack.
– 5% discount for each YES pack
– Univ Volume (UV) of the YES pack are higher compare to the normal UV for the similar set
– Free shipping
4. As a member you are entitled for member price as low as 15%-20% compare to the retail price.
5. Minimum 6 down line + 100 buying point each (UV)? You will be getting 100% Enrollment Matching Incentive Bonus
6. Move a rank level up? Able to maintain the rank? You will be entitled for Rank up bonus
7. At the end of YES program, member who successfully completed the course will be eligible for cash of RM10,000 and trophy
The door of opportunity is widely open, take action now while you still have the chance and be the master of your own financial destiny.
Remember that your past does not equal to the future. YOU CAN ALWAYS CHOOSE YES! to do something different today.
Find out more details on YES here and you have the option to contact us for more details.
** These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease