If you are a Follower of mine, you would know that I started a new project in early Feb 2018 where a selected few die hard supporters who were freaking generous and equally crazy joined my exclusive project where we share stuff that benefit us, especially on matters relating to credit cards to earn free money and fly Business Class for peanuts.
Well, my new project took off on 12 Feb and we have shared many stuff but I thought I should share with you guys what my project team members selflessly shared so that you, the Rakyat, will benefit from our generous and caring government which gives out FREE Money!!!
One of my project team members shared that he gets 10% discount when he pays his PTPTN loan via direct debit (Savings Account). 10% discount is better than any credit card cash back!!!
Now, our government is also giving those with outstanding PTPTN loans 20% discount if you settle in full prior to 31 December 2018
Here are my thought on the above 20% discount.
- If you can afford to clear your outstanding PTPTN loan in 6 equal installments, it is worthwhile to consider paying off your PTPTN loan using a credit card.
- Then perform 0% Balance Transfer!!! If you are new to Balance Transfer Plans, please click here to my previous article on Balance Transfer 2016 to get some ideas on it. My advise is, always go with our local banks’ 0% Balance Transfer Plans with equal installments (currently Public Bank and AEON Credit are offering 6 Months 0% BT) and not foreign banks (e.g. HSBC and CitiBank).
- So, if you can settle in full, you will be able to save 20% off your Outstanding PTPTN Loan amount. And if you do some homework, e.g. contact PTPTN to liase/obtain more info, you should be able to use your credit card and then perform a 0% 6 months balance transfer 🙂
After I shared the 10% discount for PTPTN loans with my Project Team Members, another selfless person then forwarded the image below to me and shared that his child earned RM500 FREE Money from the government when he deposited RM500 into his child’s SSPN1M account!!!
If you are paying income tax, which I believe most of you are, you will also get FREE Money from the government when you deposit into your child’s SSPN account. If your chargeable income is in the range of RM50K to RM70K, your tax bracket will be 16%. By depositing RM6K into SSPN, you would pay RM960 less in income tax or in other words, you have RM960 more in your pocket 🙂
Now, you should also check with Tabung Pendidikan if you are able to make a deposit into your child’s SSPN account using a credit card at their counter/office. If yes, click here to read my review of the Standard Chartered Bank Cash Back Gold MasterCard – Lesson No.11 on Cash Back Credit Cards.
And, if you quickly go apply for the Standard Chartered Bank Cash Back Gold MasterCard now and it gets approved on or before 28th February 2018, you will be entitled to RM128 FREE Money.
TN 50 Private Retirement Scheme Incentive
After I shared both the PTPTN 10% discount and SSPN RM500 FREE Money with my project team members, another team member shared with me how he received RM1K FREE Money.
You see, for those who are aged between 20 to 30, currently there is a promo called TN 50 Private Investment Scheme Incentive where our government will give you RM1K FREE money when you deposit RM1K into the Private Retirement Scheme Fund!!!
Now, what really caught my attention is the image below which states 40% of GenYs splurge on purchases while 70% live beyond their means!!!
So, in order to brainwash you into the right mind frame in order that you save for tomorrow instead of following the masses who are living beyond their means, please click the link and read my article about Life so that you do not end up in the shit hole of debt:
UPDATE -25 Feb 2018 – INVALUABLE TOP URGENT ANG POW FOR YOUNG GENYs – so that they will be rich in their retirement years and not be poorer instantly.