Every ringgit in your bank account can earn you profits.

With the existence of numerous cash apps and digital banks, growing your savings has never been easier.

If you’re confused on which app to use, read on to understand how I’m currently managing my money.

I go by the 50/30/20 rule to split my salary.

This rule is simple and takes care of most of my expenditures while still allowing me to live in the moment and save for the future.

With the percentages in mind, here’s how my salary is segregated into these apps:

50% Needs → AEON Bank, Rize, GXBank
30% Wants → AEON Bank, Rize, GXBank
20% Savings → Touch n’ GO INVEST, Versa, myASNB

The percentages can be adjusted to fit your budget, but try to stick to them as much as possible.

If your needs exceed 50% of your salary, you’ll need to figure out ways to:

• Cut your expenses (shop at a cheaper grocery store or use your car less).

• Increase your income (monetize your talents with side hustles, hop to a higher paying job, or explore new opportunities).

The 20% of your salary (for savings and investing) should be prioritized as follows:

• High interest debts (Credit card debts and personal loans)

• Emergency Fund (at 3-6 months of monthly expenses)

• Saving & Investing (retirement, down payment for car, wedding, etc.)

Maybank is my main salary account.

There is no particular rule to this.

As long as your bank doesn’t restrict you from transferring your funds out, that’s fine.

I use Maybank because the app is easy to use and only requires you to maintain RM1 within the account.

A large part (80%) of my salary goes into AEON Bank, GXBank, and Rize.

AEON Bank is my main spending account because it has the highest profit rate and cashback.

GXBank is a backup just in case AEON goes under maintenance, so I usually funnel about 20% of my salary there.

Rize also works as another backup, but I mainly use it for storing my emergency funds for two reasons:

• It is the second highest paying cash app.

• I won’t be inclined to spend my funds because I don’t see it in AEON or GX.

What about Boost Bank?

While Boost Bank’s earning rate is high (up to 4.0% pa), there are a lot of criteria which you need to meet to achieve this return, specifically:

• Deposit and maintain RM2,000 in the account.

• Spend at least RM50 on a single transaction at a physical Mydin outlet every month.

Reward: Earn 4% pa on ONE Savings Jar* for the first RM25,000.

*The default earnings rate for your main account is only up to 2.5% pa. You’ll need to deposit your funds into a Savings Jar to earn the higher rate.

As you can see, the terms are quite confusing, and quite a few users have voiced out their unpleasant experience with the app. Read the full TnCs here.

The remaining 20% of my pay is cycled between these investment apps.

1. Touch n’ GO INVEST

GO INVEST offers 16 types of unit trust funds, each with a varying degree of risk. Some of which are invested overseas.

You can choose what type of exposure you would like to have, including assets from the US, Japan, Europe, Asia, etc.

I mainly use it for aggressive overseas investments, but bear in mind that there is a 1.5% sales charge.

More about GOINVEST: https://thefuturizts.beehiiv.com/p/investing-falling-ringgit

2. Versa

Versa is another well-known cash app that offers a variety of unit trust funds. Their most attractive funds include:

Versa SGD: For moderate-risk investors who seek exposure to SGD-denominated assets. Expect to receive a steady income distribution and decent growth in capital.

Versa Global-i: Top holdings in Microsoft, Apple, and other big names. Aims to provide investors with global exposure to Shariah-compliant equities over a medium to long-term period.

Unlike GO INVEST and other funds providers which charge up to 5% upfront, Versa has no sales charges for its funds.

Read more about Versa’s overseas funds: https://thefuturizts.beehiiv.com/p/ringgit-weak

3. myASNB (ASB & ASM)

ASB and ASM are unit trust funds that have never delivered negative returns.

Each unit is always fixed at RM1, giving you the flexibility to plan your investments without worrying about volatility or price swings.

I use the myASNB app to invest in ASM, ASM2, and ASM3 since I’m not a Bumi.

But if you’re a Bumi, you may invest in ASB through the app. There’s no need to invest with banks.

You can also set up “Auto-Labur” to automate your monthly investments.

Read more about ASB and ASM: https://thefuturizts.beehiiv.com/p/asb-asm-asnb-can-malaysians-invest

4. Rakuten Trade

Rakuten Trade is my preferred broker.

I mainly use it to gain exposure in the US market through ETFs that track the S&P, Dow Jones, or Nasdaq.

My investing strategy is very passive and I do not stock pick.

Rather than trading a single stock and timing the market, I choose to buy the entire US market instead.

FYI, Rakuten Trade is not the platform with the lowest fees.

MooMoo is the most economical, offering new users a flat US$0.99 per trade for the first 6 months, regardless of the amount.

That said, I choose to stay with Rakuten because I’m already managing quite a lot of investment apps, and registering for another one will make my investments very messy.

Read more about how I’m investing in the US market here: https://thefuturizts.beehiiv.com/p/start-investing-us-market-f0d7

5. Luno

According to Hann Liew, the founder of RinggitPlus and Halogen Capital, a small exposure in Bitcoin (ie. 1-3% for low risk investors) will significantly increase your portfolio returns and reduce overall risk.

This is because Bitcoin is negatively correlated to other assets.

Though it has retraced slightly from its all-time of $73,800, Bitcoin is still up 38.18% since the start of the year, vastly outperforming other asset classes such as the S&P500 and gold.

Luno is Malaysia’s largest crypto investment app. You can invest in 13 different types of cryptocurrencies, including Bitcoin and Ethereum.

The app layout is simple and user friendly. It is perfect for beginners who are seeking exposure in crypto.

While it may not be the platform with the lowest fees, Luno is regulated by the Securities Commission, so you can invest with a peace of mind knowing that the platform has to adhere to certain rules and regulations.

Register with Luno using my referral code here.

Why am I investing aggressively?

Because I’m still young and want to maximize my returns.

EPF, ASB, and ASM give about 5% returns per year.

At this rate, it will take 14.4 years for your current funds to double, using the Rule of 72.

But just by exploring riskier assets and increasing the returns by 2%, the time taken to double your funds is four years quicker.

But before you start investing, do this.

Ensure that you've saved up 3-6 months of your expenses as emergency funds, and at least have medical insurance coverage.

This is so that you won’t need to liquidate your investments prematurely during an unfortunate event.

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That’s all for this week’s newsletter!

Disclaimer: The information contained in this newsletter is for informational and educational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice.