Principles and Everyday Practice of Personal Financial Planning is a comprehensive money management resource endorsed by the Financial Planning Association of Malaysia, which demystifies personal finance and promotes sound financial habits for everyday and future living.
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Many aspire to have financial security and abundance with a life free from financial stress. Yet, the true challenge lies not only in accumulating wealth but also in sustaining it for the long term.
Principles and Everyday Practice of Personal Financial Planning is a practical money management guide written in a simple, clear way and grounded in the Malaysian context. Endorsed by the Financial Planning Association of Malaysia, this book makes personal financial planning easy to grasp and empowers readers to make informed financial decisions with confidence.
List of Figures
List of Tables
Foreword
Preface
Introduction
1 Starting with the End in Mind
What is personal financial planning?
What is financial freedom?
How to set financial goals?
Financial planning process
Important life stages of financial planning
How can a financial planner help?
Understanding a financial planner’s role
2 Basics of Money Management
What is wealth?
How to gauge wealth?
Time value of money
3 Cash Flow Management
Where to start?
Help, it is an emergency!
Uncontrollable spending
How to save when there is not enough money?
Credit cards: Friend or foe?
What to know about buying a car?
Buying a car or a house first?
Is love blind?
How to manage debts?
Getting rich quick
4 Investment Planning
How to assess investment risk?
Stock market and the economic cycle
Risks of investing in shares
Making share investments in Malaysia
Basics of how shares are valued
What to know about unit trust investments?
Buying your first house
What to know about mortgage refinancing?
Investments in real estate investment trusts (REITs)
Ways to make investments
Are all investment choices rational?
How to build an investment portfolio?
Baby on the way!
Beware of investment scams!
5 Insurance Planning
How do insurance and investment differ?
How to gauge the amount of life insurance needed?
Types of life insurance in Malaysia
Medical and health insurance
Must-have insurance for property owners
Motor vehicle insurance
Travel insurance
6 Estate Planning
Estate planning and its importance
Is a will important?
“For you, I will ...”
When to make a new will
Handling jointly owned assets in a will
Distribution of assets for Muslims
Beneficiary nominations
To trust or not to trust?
Trusts and business continuity plans
What is a cash trust?
What is power of attorney?
Possible complications in estate planning
7 Retirement Planning
Retirement planning process
Retirement planning myths
How much is needed for retirement?
Employees Provident Fund and retirement
What is Private Retirement Scheme (PRS)?
What is Public Pension Scheme (PPS)?
How reverse mortgage can be used for retirement
Retirement scams
Retirement of body, mind and spirit
References
Index
Dr Joyce Nga is a Certified Financial Planner and a Registered Financial Planner, with over 20 years of experience teaching corporate finance, financial planning, business ethics, and credit management. She is currently a Senior Lecturer at Sunway University, Malaysia.
Dr Desmond Chong is a Senior Lecturer at Universiti Putra Malaysia. He is an expert in consumer finance, marketing, management, and financial planning (Shariah), and is a Certified Financial Planner and Registered Financial Planner.
Awards
- National Book Award - 2025 (Anugerah Buku Negara ABN)
National Book Development Foundation
General & Special: Best Motivation / Self-Development Book
Endorsements
- Financial Planning Association of Malaysia (FPAM)
Basic Information
- 978-629-7646-38-1 (Paperback)
- 978-629-7646-43-5 (E-book)
