WHAT IS RETAKAFUL? In essence, retakaful operates similarly to reinsurance as a risk management mechanism, but the latter operates based on Shariah (Islamic law) principles. In the secondary insurance market, reinsurance is carried out by insurers transferring portions of their risk portfolios to other parties through a contract. Floods and earthquakes are examples of large-scale…
5 Tips to Teach Your Child to Save Money
It is the responsibility of parents to teach their children about money. Financial literacy, like any other talent, is a life skill. For some reason, the underlying workings of money and financial literacy are disregarded. As a result, many parents refuse to discuss financial matters with their children and do not specify ways on planning…
5 Money Habits Successful Women Must Have
Successful women acknowledge it is not always about how much money you make, but how much money you spend. Including shopping for groceries, subscribing to streaming services, or purchasing a vehicle, being frugal with your money can help you keep more money in the account. Let’s look at the 5 Money Habits of Successful Women:…
Financial Wellness: It’s Not Just About the Money
Taking personal finance to another level by looking at it from a more holistic view. How has the past year been for you? I’ve done a lot of reflection on myself and how I want to further evolve when things get a little more normal for the coming year (fingers crossed)! One thing I personally…
Creating a better money mindset
Money has always been a taboo topic within my family. Like most of us, my family never really talk about how they budget or manage their money. For most of my childhood it was from observation and how they behave around the money topic. Most of the time I assume I cannot ask for more…
Understanding Your Money Blocks
Reflecting on my childhood, I remember we were given a book to write down our money spending during school – Buku Wang Saku. We also had to listen to a talk about how to manage our money. I remember only writing in it for a week and there was no follow-up after that. That was almost…
What is Financial Wellness?
We have a choice daily on how we want to manage our lives. Every day we decide whether we’re willing to go the extra mile in ways that contribute to our financial needs. At times we drown ourselves in our work to chase that paycheck and ignore our own personal health. We stress out on…
Can We Win The Poverty War
In the middle of a pandemic what has been ringing in my ear is the sound of the leaders keep repeating that we are in this together. We are on the same boat. But the truth is we are not. As the pandemic extends, there has pushed many people to the extreme break. Yet most…
What is Financial Abuse?
Are you being financially abused? Abuse comes in many forms and one of it is financial abuse. In a marriage, money is usually co-owned but in many cases, the husband may control every aspect of finances and the wife doesn’t have access to it. If she needs to ask for money, the assumption is that…