KUALA LUMPUR, Dec 16 (Bernama) — The rising cost of living can be controlled by checking one’s personal lifestyle inflation, says Saving Plus Sdn Bhd Chief Executive Officer (CEO), Liew Ooi Hann.
Saving Plus manages the financial product comparison and application portal, ringgitplus.com.
Liew said a tip towards managing the cost of living is to conduct a study and act upon the spending pattern.
“While we can’t directly control the prices of goods and services, a simple look into your year-by-year spending pattern, may tell you that the value of things you buy, tends to increase in tandem with your income.
“You can then manage this alongside the increases in prices of goods and services,” he told BERNAMA.
On the question of dealing with the impact of the Goods and Services Tax (GST) to be implemented in April next year, Liew said it is important to understand that the new consumption actually replaces the previous Sales and Services Taxes (SST).
“For goods and services not previously covered under the SST system, we expect to see price increases across the board. But for items which were previously taxed at 10 per cent SST, we should expect prices of these, to fall upon implementation of the GST,” he added.
Meanwhile, the company’s Executive Director for Business Development, Siew Yuen Tuck, said the financial product comparison and application portal is capable of assisting consumer to get more value for money.
“We can help you, irrespective of whether you are applying for a credit card or personal loan, planning the best mortgage for your dream house, or looking for great discounts.
“The portal sometimes gives special deals for some banking products,” he added.
–BERNAMA
