Wednesday, April 29, 2009


My old wallet has been put to rest. A good wallet will last you for years before it starts to fall apart. My older wallet is still okay but because I put too much cards, cash, resits and other things in it. As a result, if the wallet does open a bit, most of the content will come out. Not good, especially if it happens in public or worse, it happens on places your content will be lost (over drainage covers, toilets). So its time to retired that wallet and use this wallet that I have been keeping for almost 4 years now. A family friend gave us me this wallet as a present, when she was financially stable back then. Its a nice wallet with a separable card holder. I really like since its new and quite thin. The bulge of your wallet in your pants is not very desirable (other bulges.. well it depends which part of the pants are we talking about :p ). So no more carry exorbitant about of cash, which includes withdrawing huge amount of cash to pay bills or keeping loose change or a lot of small notes of cash. Cards will be carried separately in another card holder. However, I am thinking about going cashless as much as possible now to prevent me from carrying too much cash in hand. I do have a credit card, but its a hassle having to paying it back or remembering to pay it back (the bill you get each month always shocking). I mean its good to have one so that you can use it during emergency times such as hospital bills or going on a hot date and fancy hotel and then finding out you forgot to withdraw cash at the ATM. Another great example of having a credit card is during business travels, where you have to use your own money before claiming it from your employer. I can't stress how important this is, unless you have large amount of cash in your savings that you can use before you get your claim. Sadly most of us don't have this luxury. Other than going cashless with credit cards, debit cards are the way to go. You can use it like a credit card at any place that accepts credit cards. It will deduct automatically from your account, which cuts the hassle of thinking how much you have to pay back at the end of the month. Banks such as Bank Simpanan National (BSN) and Maybank gives these card when you opened up an account. Other banks such as CIMB (newer red ATM cards) and Maybank (older black and yellow ATM cards) makes their ATM card as a debit card. When you do need to pay you just need to see the Bankcard emblem or the MEPS emblem at the retailer. When its time to pay, you just insert your pin number and choose the account you like to use to pay for the purchase. Details of the transaction will printed out in your bank statements that you can check online. This makes perfect sense, although I do worry if the retailer carries the MEPS or Bankcard emblem, since these are something that I don't pay attention until now. I am going to try as much as I can to use these card in order to lessen the usage of real cash. You should too. Consumers and retailer in Europe and America are using debit cards now instead of cash. Some shops don't even accept cash anymore, in the movie "He's just not that into you" we can see Scarlet Johanson swiping her debit card and key in her pin number at the debit card reader that is conveniently located in front of her. Its easier than having to carry loads of cash and its safer since you won't loose cash if you are mugged.
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