Personal Money Magazine

Have you read the latest issue of Personal Money magazine? Grab a copy from newsstand. It is a much better magazine now as compared to its old self.

This issue featured write up is Strategies for Savings. You will definitely find some useful tips to improve your financial positions. Some strategies on savings are definitely not the usual cut-down-your-coffee-and-groceries stuff. There are some living persons showing their faces and telling us their strategies. That is nice.

Personal Money was originally a bi-monthly free complimentary magazine came with The Edge weekly. It spun out from The Edge when its popularity grew. However, after sometime I stopped buying it as I felt it had turned itself into a mega advertorial magazine for unit trust funds and property personalities.

But the recent two issues that I bought (initially out of boredom, but also due to their cover’s list of topics) changed my view on the magazine. It had changed and has become a much better personal finance magazine now. I like the involvement of financial experts replying real life questions. The topics in Tax Planning section are definitely relevant and helpful. I enjoy the compiled facts and statistic in Mind Your Money section. It is pretty entertaining to read summary reports of global, US, UK personal finance trends like retirement views, happiness, married folks are happier, bank merger had on mortgage interest rate, online banking stat, etc. It is my favourite section now.

The featured topic addresses day to day real life financial experience (like choosing credit cards, saving strategies, etc.), not just unit trust and unit trust and unit trust and stock market and property trend (It once used to be so). The editorial team are more alert to changes in regulatory framework (e.g. SC guidelines on investment-linked, EPF gives 5%, etc.) and economic environment (e.g. foreign exchange fluctuations, rising interest rates, etc. had on our investments) and are more experience in writing about their impacts had on individual financial life.

The team starts to write about stocks. It also writes about businesses. Yes. Business is, in fact, the most important part of a wealth building plan, not unit trust, in contrary to what were, and still are, propagated into our mind through heavy advertisements. It is really interesting to read about the hairdressing business and boutiques business and the people behind them. Frankly we don’t need a high salaried EMPLOYEE (nice expensive tie and suit) of a unit trust company to tell us about wealth building and compounding effects. We need entrepreneur personalities like Helen Read and Winnie Loo to tell us their experience.

The articles in Personal Money were once like advertorials written by the people who have vested interest in the products/ markets. But it is no longer the case now. Lim Yin Foong is the editor since day one of Personal Money. I suppose the magazine grows with her knowledge on personal finance. The magazine started to form its own views on many topics on personal finance. And the choice of coverage (in term of breadth) is interesting.

I shall say it is worth buying…once more.

Oh, by the way, I just found a copy of Personal Money September 2001 launch issue in my book shelf. The featured write up is Road to early retirement (shortcuts to take, potholes to avoid) and how to invest like Warren Buffett. Flipping through the launch issue, I realise I do have something to say. But it will be for another post.

Personal Financial Planning: An Overview

Personal Finance A plan for life Young, free & single Married couple Happily single Retiring	Issues in life Buying a home Buying a car Getting married Chilren's education
Assets Building Human assets Paper assets Real estates Businesses Assets strategies Savings & expenses	Financing Credit card Home loans Getting a loan Getting out of debts
Assets Protection Life insurance Trust Special vehicles	Leaving a Financial Legacy Trust Will Assets arrangement Giving