YOUR MONEY -------YOUR RESPOSIBILITY

Investing Your Money $$$$$$$$$

You can grow your wealth through investment if you invest carefully. The types of investment you choose will depend on your purpose for investing, so start by drawing up your investment goals. Ask yourself :

* What are my goals? What do I hope to get from the investments?

* What level of risk can I take?

* Do I need my money back within a short period of time?

* Do I know how the investment works to allow me to watch it effectively?


Before you invest in any products, find out the risks and returns of the investment. High returns means high risks. If you are not prepare to take risks, don't invest. Be careful of investment products that promise very high returns, e.g. those that promised returns that are much higher than the market rate. This is to avoid being cheated in a BOGUS investment scheme.


Recognising a BOGUS Investment Scheme

Some of the features of BOGUS schemes are :
* You are promised high returns on the investment,eg, a monthly return of 20%-30% with no or very low financial risk.

* You are asked to sign up for the investment immediately as the offer is for a short period only.

* You are asked to invest in a scheme from another country where you are unable to check on its office or confirm its status from the website of any regulatory authority.

* You are asked to invest in a scheme where you have to provide confidential information on your bank account,eg. account number.


How to protect yourself from SCAMS ?

* Remember the Golden rule---if it sounds too good to be true,its probably a lie.

* Deal only with licensed financial institutions.

* Check with the relevant authority before investing.

* Don't be pressured or rushed into an investment.

* Be extra careful of any investment opportunity that is not in writing.

* Guard your bank account and credit card information carefully. Never reveal it to any party.


You should only save or invest with parties licensed by the authorities so that your savings or investments are protected.

* The institutions accepting deposits that are licensed by Bank Negara Malaysia. You can check their licensing status from the Bank Negara Malaysia's website www.bnm.gov.my

* Your deposits placed with the financial institutions licensed under Bank Negara Malaysia will be fully guranteed by the Government through Perbadanan Insurans Deposit Malaysia ( PIDM )This coverage is provided automatically at no cost to depositors. To find out more about deposit insurance, visit PIDM's website www.pidm.gov.my.com or call PIDM;s toll free 1-800-88-1266

* Individuals and companies involved in investment activities are licensed by the Securities Commission. You can check their licensed status at the Securities Commission;s website www.sc.com.my


To be continued...... Warning signs of Bad Spending Habits.......