This is The SMARTEST Way To Manage Your Salary in Malaysia.

Summary

This script introduces the concept of a paycheck routine as a foundation for financial stability. It emphasizes the importance of a simple system to manage finances effectively, highlighting the Touch and Go e-wallet app as a tool that simplifies money transfers, expense tracking, bill payments, and investments. The app's features, such as the Go Plus for earning daily returns and the Go Invest for accessible investing options, are discussed to illustrate how it can help users build a sustainable financial habit.

Takeaways

• 💼 A paycheck routine is a sequence of steps to manage finances upon receiving pay, which can lead to financial stability and peace of mind.
• 🏦 It's important to simplify the paycheck routine to make it a sustainable habit, which can be achieved by using a single system or tool.
• 📈 The ideal system for a paycheck routine should allow easy transfers, handle expenses, and support investment opportunities.
• 📱 The speaker recommends the Touch and Go e-wallet app as a comprehensive tool that meets the criteria for a good paycheck routine.
• 💰 After receiving a paycheck, the first step should be to pay off loans and commitments, followed by managing daily expenses, bills, and savings.
• 🔄 Touch and Go e-wallet allows for seamless money transfers from a bank account and can be used for various daily transactions.
• 🛒 Using the e-wallet helps in tracking expenses, providing a clear record of where money is spent, which is more convenient than cash.
• 📊 The e-wallet app can also pay bills, parking fees, and offers a high-yield savings account called Go Plus, which earns daily interest.
• 🚗 The app includes a quick cash-in feature that automatically sweeps e-wallet balances into Go Plus, ensuring money is always earning interest.
• 💳 Touch and Go e-wallet offers a Visa card for situations where e-wallet payments are not accepted, featuring a numberless card for enhanced security.
• 🌐 The app also provides an investment platform called Go Invest, offering a range of funds suitable for different risk appetites and the ability to automate investments.

Q & A

What is a paycheck routine?

A paycheck routine is a sequence of steps you take upon receiving your pay to keep track of your financial life, helping you achieve your financial goals.

Why is having a paycheck routine important?

A solid paycheck routine provides financial stability, reduces stress, helps with budgeting and planning, ensures bills and expenses are covered, and allows you to save and invest more effectively.

What are the main benefits of having a paycheck routine?

The main benefits include financial stability, peace of mind, efficient budgeting and planning, and the ability to save and invest for future goals.

What challenges might one face when setting up a paycheck routine?

Challenges include managing multiple accounts, keeping track of various expenses, and the complexity of maintaining the routine over time.

What are the three fundamental criteria for a good paycheck routine system?

The system should allow easy transfer of paycheck portions, handle most or all expenses, and help invest a portion of the money.

Which app does the speaker recommend for managing a paycheck routine?

The speaker recommends the Touch and Go e-wallet app.

How does the Touch and Go e-wallet app simplify the paycheck routine?

The app simplifies the routine by consolidating various functions such as transferring money, tracking expenses, paying bills, and investing, all in one platform.

How does the Touch and Go e-wallet app help with expense tracking?

The app records all transactions, allowing you to track your expenses and see where your money is going.

What feature of the Touch and Go e-wallet app helps in earning returns on your balance?

The Go+ feature offers daily returns on the balance, acting like a high-yield savings account while providing flexibility to spend money directly.

How does the Touch and Go e-wallet app facilitate investment?

The app includes the GoInvest feature, which offers various investment funds suitable for different risk appetites, allowing you to start investing with as little as 10 Ringgit.

Outlines

00:00

💼 Establishing a Paycheck Routine for Financial Stability

The first paragraph introduces the concept of a paycheck routine, which is a systematic approach to managing one's finances upon receiving a salary. It emphasizes the importance of this routine for achieving financial goals, such as stability, stress-free budgeting, and saving more money for investments and wealth accumulation. The speaker acknowledges the challenges of setting up and maintaining such a routine due to the complexity of juggling multiple accounts and the tendency to give up over time. To address this, the speaker proposes simplifying the process into a single system that can track all financial activities in one account. The paragraph concludes with the introduction of the Touch and Go e-wallet app as a tool that meets the three fundamental criteria for a perfect paycheck routine: easy money transfer, comprehensive expense management, and investment support.

05:01

📱 Integrating Touch and Go e-Wallet into a Paycheck Routine

The second paragraph delves into how the Touch and Go e-wallet app can be seamlessly integrated into an individual's paycheck routine. After paying off loans and commitments, the remaining funds are transferred to the e-wallet for daily expenses, bills, and savings. The convenience of transferring money from a bank account to the e-wallet is highlighted, along with the ability to save transfers as favorites for quick future transactions. The speaker also mentions the reduced need for cash due to the widespread acceptance of e-wallets, including at hawker stores and small shops. The e-wallet's expense tracking feature is praised for its ability to record all transactions, providing clarity on where money is spent and aiding in financial accountability. Additionally, the paragraph discusses the app's utility in paying bills, parking fees, and its overall convenience in daily transactions.

10:04

🏦 Earning Interest with Touch and Go's Go Plus Feature

The third paragraph focuses on the Go Plus feature of the Touch and Go e-wallet, which offers daily returns on the balance, providing a better interest rate than a regular bank savings account. The speaker explains how transactions are automatically deducted from the Go Plus balance, emphasizing the control and flexibility it offers. The 'quick cash-in' feature is introduced as a way to ensure that all e-wallet balances are swept into the Go Plus balance, maximizing the earning potential of the user's money. The convenience of using the e-wallet for various daily expenses, money transfers, and the availability of a numberless Visa card for added security are also discussed. The paragraph concludes with an overview of the Go Invest feature, which allows users to invest in funds suitable for different risk appetites, starting with as low as 10 Ringgit and offering the convenience of automatic monthly investments.

Keywords

💡Paycheck Routine

A paycheck routine refers to a systematic approach to managing one's finances upon receiving a salary. It is central to the video's theme as it serves as the foundation for a strong financial future, helping individuals track their expenses, save, and invest wisely. The script emphasizes the importance of establishing a simple and sustainable paycheck routine to avoid confusion and maintain consistency in financial management.

💡Financial Stability

Financial stability denotes a state where an individual has a secure and predictable financial situation, free from stress and uncertainty. In the context of the video, it is presented as a key benefit of following a paycheck routine, allowing for peace of mind and the ability to cover bills and expenses without worry.

💡Budgeting

Budgeting is the process of planning how to spend money and how much to save. It is a crucial part of the paycheck routine discussed in the video, as it helps individuals allocate their income towards various financial goals, including paying bills, saving, and investing.

💡Touch and Go e-wallet

The Touch and Go e-wallet is an app highlighted in the script as a tool that simplifies the paycheck routine by consolidating financial transactions, payments, and investments into one platform. It is used as an example to illustrate how technology can facilitate a more organized and efficient approach to personal finance management.

💡Expenses

Expenses refer to the costs incurred in one's daily life, such as bills, groceries, and other necessities. In the video, tracking and managing expenses is a key aspect of the paycheck routine, with the e-wallet app facilitating the process by recording and categorizing all spending.

💡Investing

Investing is the act of allocating money with the expectation of generating income or profit. The video script discusses investing as an integral part of a paycheck routine, emphasizing the use of the e-wallet app to invest in funds that align with one's financial goals and risk tolerance.

💡Go Plus

Go Plus is a feature within the Touch and Go e-wallet app that offers a daily return on the balance, providing a higher interest rate than a regular bank savings account. It is presented as an innovative way to make one's money work harder by earning interest on the funds that would otherwise be idle in a wallet.

💡Quick Cash In

Quick Cash In is a feature of the Go Plus service that automatically transfers the user's e-wallet balance into the Go Plus account, ensuring that the money is earning daily returns even before it is spent. This feature exemplifies the video's message of maximizing the utility of one's funds through smart financial tools.

💡Auto Cash In

Auto Cash In is a feature that allows for the automatic transfer of funds into an investment account on a regular basis, such as monthly. This feature is highlighted in the script as a way to automate and cultivate the habit of investing, contributing to long-term wealth growth by making the process effortless and consistent.

💡Numberless Card

A numberless card, as mentioned in the script, is a type of debit or credit card that does not display the card number on the physical card. Instead, the number is accessible only through the associated app, providing enhanced security against theft and fraud. This concept relates to the broader theme of financial security and convenience in managing one's finances.

💡Unit Trust

Unit Trust is a type of investment vehicle where investors pool their funds to be managed by a professional fund manager. In the video, the Touch and Go e-wallet app offers a variety of unit trust funds with different risk profiles and potential returns, allowing users to invest according to their financial goals and risk appetite.

Highlights

Paycheck routine is a sequence of steps to manage finances upon receiving pay.

A solid paycheck routine is foundational for a strong financial future.

It helps in achieving financial stability, stress-free budgeting, and saving more money.

Setting up a paycheck routine can be confusing due to juggling multiple accounts.

A simple system is crucial for a sustainable paycheck routine habit.

The speaker shares their personal system and tools for creating a paycheck routine.

Three criteria for a perfect paycheck routine: easy transfers, expense management, and investment support.

Touch and Go e-wallet app is recommended for managing paycheck routine.

The app allows for seamless money transfers from bank to e-wallet.

Using e-wallets helps in tracking expenses and managing finances better than cash.

The app facilitates bill payments and parking fees, simplifying daily transactions.

Go Plus feature of the app offers daily returns on the balance, better than a regular savings account.

Quick Cash-In feature ensures money is always working hard by transferring to Go Plus balance.

The app provides convenience in daily expenses and money transfers between individuals.

Touch and Go e-wallet Visa card offers privacy and security with its numberless feature.

Go Invest feature within the app provides access to various investment funds.

Investment options range from conservative to aggressive funds, with low minimum investment requirements.

Auto Cash-In feature for investments helps in cultivating a habit of regular saving and wealth growth.

Transcripts

all right today we're going to talk

about a very important topic paycheck

routine you have probably heard of this

term paycheck routine many times about

what is it exactly basically it's a

sequence of steps that you're going to

do upon receiving your pay this will

help you keep track of your financial

life and hopefully helps you to achieve

your financial goal so why is it

important well a solid paycheck routine

is kind of like a foundation for a

strong financial future picture this you

get financial stability you are

stress-free budgeting and planning your

money you have a peace of mind knowing

that all your bills and expenses are

being covered for and more importantly

you get to save more money that way you

are able to accumulate wealth invest and

save and help you to achieve things that

truly matter to you but here's the thing

right setting up a paycheck routine is

not always a work on part it can be so

confusing sometimes because you need

juggle between different accounts you

know keeping track of one the other and

so on and so forth after one or two

months it's difficult to keep up and

most of us just give up so to make your

paycheck routine a sustainable habit

it's really important to Simply amplify

all these complicated stuff make it into

one simple system that can help you to

keep track of everything under one

account so today I want to share with

you the system and the tools that I use

to create a paycheck routine for myself

that's so much more simple and easy to

keep track of so that it can be a

sustainable habit ultimately at the end

of the day how you divide the money it's

really up to you depending on your

salary and your lifestyle and so on but

having a proper system can really help

you to stick through with the habit and

build a good financial future for

yourself when it comes to this

particular system and Tool there are

three fundamental criterias that are

needed first up we need a system that

allows us to easily transfer a portion

of our heart and paycheck from the bank

to this particular tool second it should

be a platform where we can handle most

if not all our expenses making sure that

everything is accounted for and last but

not least this tool and system must have

the ability to help us invest support

version of our money so that our money

can work hard for us transfers spend and

invest ultimately these are the three

Magic ingredients that's needed for a

perfect paycheck routine after trying

all the various apps in the market I

find this one app that fits all these

criteria The Touch and Go e-wallet app

instead of using multiple apps and

account to manage your money this one

app can do it all okay most of you may

be wondering now Touch and Go is just an

e-wallet app right What's it gonna do if

a paycheck routine is it just all about

spending well let me walk you through

how I integrate this Touch and Go

ewallup app into my whole paycheck

routine firstly once I receive the

paycheck every month the first thing I

do is to pay off my loans and

commitments after paying off all this

what's left is for me to pay my bills

spend the money and also invest so here

is where Touch and Go e-wallet comes in

handy let's say your income is 4 000

Ringgit a month and once you get a

salary you would pay off your house loan

cargo assuming what you have left is

around 2000 Ringgit for daily expenses

bills and savings here's where you

transfer this money into your touch and

go e-wallet it's also really convenient

to transfer your money from a bank

account to your touch and go e-wallet

app it's super simple and seamless just

use do it now and seamlessly transfer

the money into your touch and go

e-wallet app plus you can save the

transfer is favorite which makes it even

easier by just transferring with a few

tabs whenever you need to oh don't

forget you should also keep a small

amount of cash at hand so that you can

use cash when the place requires you to

last time I'll keep a slightly bigger

portion because many of those Hawker

stores do not have e-wallet and so on

but these days many of the Hawker stores

and small shops actually have integrated

e-wallet into their payment system and

touch and go is certainly one of the

most common ones so I keep a lot lesser

cash these days because today in most of

the places you can just scan and pay I

just love this because in the past when

you are spending cash sometimes you just

do not know where where your money is

going nothing much is recorded but when

you're using an e-wallet app like touch

and go everything is recorded you can

track all your expenses where you've

spent the money today which restaurant

or which store that you have paid for

that Nasi Lemar following it and 50 Cent

or eight Ringgit everything is trackable

by month end you are able to track your

finances and know where exactly your

money went through and in my opinion

that is way more convenient than

spending cash by the way one more reason

that I use this Touch and Go e-wallet

app so much is because it allows me to

pay all my necessary bills on the app

itself I can pay for pnb in that water

water bill phone bill whatever you can

name it it is almost all that on top of

that if you are someone who drives like

me paying for parking can be really a

hassle using the different app but guess

what Under The Touch and Go e-wallet app

you can pay for parking easily within

the app itself and that's one of the

reason why I use it almost every day for

my daily transactions by the way for

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subscribe to our Channel now let's talk

about the most interesting part of using

the touch and go e-wallet the go plus

feature imagine if you're keeping cash

in your wallet and spending it on a

daily basis the cash in your wallet is

not gonna work for you it doesn't

generate any return even when you use

other apps the money is just gonna sit

there in the wallet not earning any

return and just waiting to be spent but

here's the difference with go plus Gold

Plus offers a daily return on the

balance with a better interest than a

regular Bank savings account here's the

cool thing whenever I make any

transactions it is automatically

deducted from a go plus balance this

this means a full control to cash out

the balance from go plus anytime it

kinda acts like a high yield saving

account providing flexibility to spend

the money directly while earning daily

interest from the account but wait it

gets even better when I use Gold Plus

together with a quick cash in feature I

never miss out on my returns okay what's

this quick cash in feature okay

basically it automatically sweeps all my

e-wallet balances into the go plus

balance making sure that my money is

working hard for me at all times all

right if you're still confused imagine

this usually when you take out a portion

of the money to spend on a daily basis

you would either put it in your wallet

or either you put it in a normal saving

account but as usual your wallet doesn't

provide any return at all on the balance

inside and a saving account provides

only a very low amount of return but

when it comes to Gold Plus and quick

cash in feature what happened is that

when you put your money there in this

touch and go e-wallet the money does not

spend will be automatically transferred

to the go plus balance helping you to

earn daily returns before you spend the

money making sure that every Ringgit

that you have on you is working for you

every day isn't that great ah see I just

earned some returns today just simply by

putting in my money into the Touch and

Go e-wallet app and using it as my main

front section too okay we have covered a

part of earning daily returns using your

goal class balance but there's another

part that I really enjoy about the Touch

and Go e-wallet app which is the

convenience of using it daily for my

expenses whether is it paying for toll

using my RFID or using my NFC touch and

gold card or either going to a normal

coffee tea I'm outside and then buying

chicken rice or ordering food through

delivery apps you can use the touch and

go e-wallet app almost anywhere plus the

app also enables easy money transfer

between friends and colleagues have you

ever gone out for lunch or colleague and

someone pays the bill after that your

niece split the bill and pay them back

well the touch go eat while that app mix

paying back your friends really easy and

convenient don't even need a bank

account number by the way do you guys

know that there's also a touch and go

e-wallet Visa card so if you're in

certain places where they do not accept

e-wallet payment but they have a credit

card machine the Visa card will be able

to help you right this Visa card is just

like any normal debit card that you can

use for e-commerce purchase or swiping

it over a credit card machine but here's

the interesting part it is a numberless

car yes numberless you know how when you

have a Visa card or Mastercard and you

have that number that number is private

and when people steal that number they

can do a lot of stuff with it having a

numberless card like the Touch and Go

e-wallet app Visa card means that you

have complete privacy only you have

access to the card number via the Touch

and Go e-wallet app so you can beat

farewell to all those worries that

people will steal your card number and

do some fraudulent trans section and

even if you lose your card don't worry

you can simply lock the cut quickly in

the app to prevent any fraudulent use

not cancer is just simply locked and

after you find it back you can

reactivate it again so that's a lot more

convenient no need to keep replacing

card whenever you're worried that you

lose your card okay we have thought

about spending now let's talk about

investing a very important part of a

paycheck routine enter go invest we

didn't go invest there's an investment

fund that's suitable for all risk

appetite if you're someone with a lower

risk appetite looking for money market

fund you can go for the principal

Islamic money market fund which offers a

projected return of 3.95 per annum what

if you're looking for Investments with

potentially higher return well recently

they launched eight new unique trust

fund offering diversification based on

risk appetite and choice of sharia or

conventional fund you are spoiled with

choices within this app so now you have

multiple options to choose form ranging

from conservative to aggressive fun for

me I prefer more aggressive fun like the

principal Global Titan fund with a

historical return of 12.35 per annum

over the past three years and you know

what's the best part you can start

investing with as low as 10 Ringgit that

is truly affordable especially compared

to other unit trust provider which often

require a minimum investment of 300

Ringgit per month or either an initial

investment of 500 to 2000 Ringgit plus

the app offered a feature to set up a

monthly Auto Cash in basically it makes

it like a regular saving plan so you

don't have to remind yourself to

transfer money into investment every

month it will just automatically invest

your money into the funds of your choice

each month this helps you to cultivate a

habit of investment via automation which

can contribute to long-term wealth

growth to sum it up if you're looking

for the one app that makes it really

convenient to build a paycheck routine

app does it all from the convenience of

managing your daily transaction to

effortlessly saving and investing your

money it offers convenience and

flexibility to manage your finances

according to your personal preference

ultimately I believe I'm not the only

one who's using the Touch and Go

e-wallet app extensively into my

paycheck routine if you're one of them

and you have some creative tips and

tricks of using this Touch and Go

e-wallet app do share with us in the

comments below I'll see you next week