Wednesday, January 13, 2021

Online check your car current market value and NCD information for free

When it is able the time to renew your car insurance and road tax, you might want to check for the latest market value of your car, and also confirm its entitled No Claims Discount (NCD) percentage for the upcoming car insurance policy.

MyCarInfo website provides a reliable source for you to check for such information, for free.

You can click here to check for the current market value of a car in Malaysia, by providing the following information to do the search at the website:

  • Year manufactured
  • Make / brand
  • Model
  • Engine CC
  • Transmission type
  • Variant-series

The result shown includes:
  • National Vehicle Identification Code (NVIC)
  • Vehicle description
  • Market value
  • Valuation date

And you can click here to check for the next NCD percentage entitled to your car insurance policy, by providing the following information to do the search at the website:
  • Vehicle registration number
  • The owner's NRIC number

The result shown includes:
  • Next NCD percentage
  • Next NCD effective date
  • Current policy period of cover
  • Current NCD percentage
  • Current NCD effective date

The result shown includes:
  • Insurer
  • Type of cover
  • Policy status

With the information acquired above, you can now visit to another website called to estimate for your next car insurance premium amount need to be paid.

Monday, January 11, 2021

Weekly, monthly & more: How your pay schedule affects you


Photo by Vitaly Taranov on Unsplash

Let’s say you had a job as a cashier at your local grocery store that paid every two weeks. You quit that position and got a new job in an office, but this one pays once a month instead. What gives?

There are different kinds of pay schedules that determine when and how often you receive your paycheck. Businesses usually set their pay schedules to benefit themselves. Payroll management entails labor and costs, so companies will go for the option that is more convenient and saves them money. 

Employees (as opposed to freelancers) don’t normally get to decide how often they get paid, so it’s critical to factor your pay cycle into your weekly or monthly budget, especially if you live paycheck to paycheck. Will you have your money when you need it?

Here are four common types of pay schedules:

Kinds of Pay Schedules

Weekly Payroll

Some businesses pay their employees weekly, which means employees receive their income on Fridays. This schedule is more common amongst freelancers, contract workers, and trade industries like construction and manufacturing. These job types commonly have irregular hours, so it makes sense to pay workers according to a shorter time frame.

While weekly schedules are a favorite amongst employees because it means you have more regular access to your money. If you drained your bank account on bills last week because it was the end of the month but want a night out with your friends, no worries — you get paid on Friday, so you can afford that night out as long as you save enough for your upcoming expenses.

However, most businesses avoid the weekly system. Payroll vendors frequently charge money every time a company (their customer) runs payroll. Doing so weekly takes extra time to process, so companies will opt for more extended periods to reduce costs and add convenience.

Bi-Weekly Payroll

A bi-weekly pay schedule means you receive your paycheck every two weeks. This cycle amounts to 26 or 27 paydays per year. Many businesses prefer bi-weekly timelines because they save money processing payroll and can calculate overtime more easily (each paycheck accounts for approximately 80 work hours). As such, bi-weekly payroll is more common amongst businesses that pay their employees hourly.

Bi-weekly schedules are not challenging to manage, but two months out of the year will have three paydays instead of two. Accountants need to factor in these paydays when calculating voluntary employee deductions, like healthcare, which are equal in a bi-monthly pay schedule.

Bi-Monthly Payroll

Bi-monthly pay means your employer pays you twice per month, also known as semi-monthly. As such, you might receive your income on the first of and in the middle of the month (likely on the 15th), or in the middle and end. A bi-monthly pay schedule entails 24 payments per year, which makes it distinct from bi-weekly. If you earn $45,000 per year on a bi-weekly cycle, your paychecks (not accounting for taxes and deductions) will be around $1730.77 each, whereas your paychecks will equal $1,875 on a semi-monthly schedule. It’s the same amount of money but divided differently.

Bi-monthly payroll is common for salaried employees. Calculating deductions is easy for accountants, and you always know which dates you will receive your income.

Monthly Payroll

You guessed it — monthly payroll means your paycheck comes in once a month. This format is ideal for businesses because it makes accounting easy and reduces processing costs, but it’s disadvantageous for employees and contractors because they have less frequent access to their money. If you work a job that pays monthly, you need to be extra careful with budgeting because you’ll only receive your income in lump sums 12 times per year.

How Does Your Pay Schedule Affect You?

Your pay schedule does not affect how much you get paid in a year, assuming you work the same number of hours either way. However, your pay cycle does influence how often you have access to your hard-earned money, and therefore the way you budget.

For example, let’s say you paid all your bills last month and now don’t have much left in your savings. Your job pays you bi-weekly, so you’ll have enough money to pay the first round of next month’s expenses, but your next paycheck won’t arrive in time to pay the rest. Now you’re in a tight spot.

One option is to make an early paycheck request from your employer. If your employer agrees, they will provide you all or part of your paycheck before they usually would, allowing you to pay your bills, but it lengthens the time between your next paycheck.

Another option is to use financial apps. Your job’s pay cycle is out of your hands, but you can control when you get paid with apps like Earnin. Earnin allows you to take out up to $500 of your earnings per pay period. This way, you won’t have to worry about missing a bill because your employer’s pay schedule isn’t in your favor, and you won’t have to pay mandatory fees for convenience.

Your pay schedule affects your ability to pay expenses and for recreation, so it’s important to know how often you’ll receive your income when applying for a job or managing your finances. Though your pay cycle might not always work in your favor, there are ways you can control having access to your money.

Restrictions and/or third-party fees may apply, see for details.

This article originally appeared on Earnin.


Tuesday, December 29, 2020

Malaysia year 2021 national and state public holidays

The official 2021 national and state public holidays in Malaysia has been announced by Cabinet, Constitution and Inter-Government Relation Division (BKPP), Prime Minister Department.

There are 14 days of national holiday (12 national holidays, whereby Chinese New Year and Hari Raya Puasa have 2 days of holiday respectively, and all the rest are 1 day).

2 of them fall on Friday, 3 fall on Saturday, none fall on Sunday, and 1 falls on Monday. Most of the states will have around 4 state holidays in addition to the national holidays.

Chinese New Year falls on Friday and Saturday (12th and 13th February 2021). Since Saturday is already an off day for most people, the actual Chinese New Year holiday in year 2021 is only one day on Friday. I believe many people will take a few days leave during the period.

Hari Raya Puasa falls on Thursday and Friday (13th and 14th May 2021). That forms a pretty long 4 days holiday, when combining with the Saturday and Sunday weekend.

Deepavali falls on Thursday (4th November 2021). If taking a day leave on Friday, you can also enjoy a long weekend holiday.

Hint: Click on the "Older Posts" link to continue reading, or click here for a listing of all my past 3 months articles.