Where I Store My Cash To Earn Money

[@dannyang2047]

Look forward on your Aeon Bank review

[@kylehudsons]

For MMF, if u use credit card as buffer, then u can count it as liquid enough as long as the money come in within 1 week

[@MillennialFinanceMalaysia]

Good point, that’s the benefit of credit cards haha. Just gotta take note of amount and credit limit

[@sepilokfui]

For non bumi, EPF got better rate than ASB and yes, you do can contribute back if you are self employed.

[@MillennialFinanceMalaysia]

Problem is you can withdraw it, doesn’t pass the liquidity test. Ok as an investment, not for savings

[@sepilokfui]

For ASB, withdrawal is as easy as going to Maybank counter 🤣

[@MillennialFinanceMalaysia]

I know haha, I’d just rather not 😂

[@akmalazmi8530]

Is GX Bank shariah compliant?

[@merangboy]

No

[@SaadonAksah]

U can use mbsb, versa, touch n go, and hsbc amanah if you want to be shariah compliant..and rize too i think

[@MillennialFinanceMalaysia]

Unfortunately not, but rize and the new aeon bank is

[@justinchoo9468]

How liquid should my emergency fund be? Like what’s the minimum recommended time to withdraw ?

[@MillennialFinanceMalaysia]

For me I have about 3 months worth of my spending extremely liquid, as in I can get it instantly. The rest of it I would say 2-3 days max

[@SaadonAksah]

Thanks for sharing your insight 👍

[@keoneeweyummy9610]

Can you also help to explain money market fund fee? I understand if the platform charge 0.4% management fee then it’s not as high as you mentioned here. Another counter is the withdrawal fee, I saw before that TnG invest will charge withdrawal fee.

[@MillennialFinanceMalaysia]

That’s right, but if I’m not wrong most of them show the returns post fees now. Withdrawal fee wise I’m not sure, all of the ones I use doesn’t have a fee

[@cooldreamers2]

Can compare it to those digital banks like gxbank, aeonbank and boost bank?

[@MillennialFinanceMalaysia]

Compare what? I use GXBank right now, need to wait a bit for the other 2 😅

[@yishienlim2695]

👍👍

[@168val]

I'm more to the MMF, beside the 4 platforms ( use all of them), any other platform ??

[@MillennialFinanceMalaysia]

Not that I know of. You can buy money market funds directly I guess haha

[@168val]

@@MillennialFinanceMalaysia appreciate it, anyway...perhaps you can review PMO plus (Public Mutual Online) in future? Tq

[@MillennialFinanceMalaysia]

Will consider it!

[@griaffell]

GX bank owner is Singtel & is joint ventured with Isra*l, please boycott