Sany Woo's Blog

by Sandy Shield

Here are thirty-three basic smart shopping tips that can be used anywhere you shop. Use them to save money, and as a guide to strengthen your purchasing power.

1. Plan your spending. Avoid impulse buys.

2. Advertised items are not necessarily the cheapest.

3. Watch for unadvertised specials.

4. Remember to ask for a “raincheck” if an item is sold out.

5. To avoid crowds, do not shop after work, on paydays, or just before holidays.

6. Buy items before you run out of them. Buy at clearance, or sale price, instead of regular price when you must have the item.

7. Know the sales cycle in your area.

8. Just because an item is on sale, doesn’t necessarily mean it is a good deal for your family. If you won’t use it, don’t buy it.

9. Due to volume discounts, larger stores are generally cheaper than smaller ones.

10. Your emotions affect your shopping. Be careful of the “I deserve it” mentality.

11. Buy at the end of the season.

12. Stock up when prices are low.

13. Try alternative shopping: Shop salvage stores, thrift stores, consignment shops, warehouse clubs, yard sales, and garage sales.

14. Remember that no particular store has the lowest price on all items.

15. Create a “shopping pool”. Agree with family and friends to shop sales for each other.

16. Shop alone. Other individuals will only help fill your shopping cart.

17. Check the entire store for specials and alternatives.

18. Get to know your favorite store’s employees. Don’t be afraid to ask questions.

19. Know your prices, keep a price book.

20. About Prices: Compare, Compare, Compare. This is how your price book helps you.

21. Larger is not always cheaper. Smaller is not always cheaper.

22. Look at unit prices.

23. You pay more for fancy packaging. Beware.

24. Remember the “Rule of Three”: If an item has three different ways it can be used, you will not be wasting your money.

25. Never pay full price.

26. Shop defensively.

27. Try store and generic brands.

28. Watch as the clerk rings up your purchases. Check your receipt.

29. Shop for gifts year round.

30. Return purchases that do not meet your expectations.

31. Complain if it is genuinely warranted.

32. Call before you go to confirm item is available.

33. If you must, leave the checkbook and credit cards at home or in the car.

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Sandy is a freelance writer and webmaster of TheFrugalShopper.com. She enjoys living the frugal life, saving money, and helping others to do the same. Subscribe to her newsletter to receive more money-saving ideas and frugal tips. Reprint permission granted with this footer included. Copyright © TheFrugalShopper.com 1999-2005.

Eats you can afford by Richard Augustin

Suffering a case of tight wallet syndrome doesn’t mean you have to forgo delicious meals. Here are easy thrifty recipes you can try at home.

The current economic slowdown has gotten everybody in a pickle resulting in consumers being not as frivolous with the ringgit as they once were.

Prices of goods are on the rise and as people find a common ground in trying to taper their spending, more and more of us are – for the lack of a better term – tight fisted with money these days.

Food is one of the first things that seem to hit most of us during this economic slowdown with the majority of the public now changing their eating habits and have gone so far to opt from dining out in order to save a little cash.

Restaurants are realising this too as more eateries and franchises, even fast food ones, offering special “value for money” offers in order to make up for this current deficit.

But if you want something a little more substantial, nutritious and tasty compared to salted fish, soy sauce and steam rice on a daily basis, then do take heed of these meal suggestions (from RM5 to RM30) you can attempt at home. We guarantee they’ll satisfy your hunger pangs without putting a dent into your wallet.

Best for RM5

Although the omelette is widely considered as a breakfast item, it’s also versatile enough to be had at any time of the day especially with a wide variety of ingredients added in.

A three-egg Spanish omelette, for example, is perfect to satisfy that hunger pang or as a quick snack. To make the omelette more appetising and fulfilling, use chopped onions, sliced bell peppers and mushrooms with a little shredded cheddar cheese for the filling.

If you’re the carnivorous type, some sliced sausages, chopped ham and bacon bits will definitely work a treat.

Start off by heating the pan with a little oil, sweat the onions and add in the peppers, mushrooms and meat items. Cook for a minute and add in beaten eggs into the mix, cook until eggs are set and add in pepper and salt to taste and cheddar cheese before folding. Set into plate and add in a dash of Tabasco sauce before serving. (Serves two persons)

Best for RM15

Spaghetti is a cheap option as it’s easier to store, cook with and most importantly saves you time and money.

Plus, pasta sauces these days come in all sort of flavours, which you can also easily modify on your own.

For added variety and a bit more of a kick, do consider adding in canned tuna or meat items like sliced chicken fillets or minced beef for a meatier option to the dish.

A quick boil of the pasta and a saucepan is all that’s needed for this hearty pasta meal. A dash of pepper and salt with a sprinkle of rosemary herbs to the meat and a quick stir-fry in a little olive oil (before adding in the pasta sauce) will add a little depth to the dish. Throw in chopped peppers and sliced mushrooms.

For a more Malaysian flavour, feel free to sprinkle in some dried chillie flakes to the dish as well. (Serves three to four)

Best for RM30

Nothing is heartier than a roast chicken meal and even though it takes a little preparation time, it’s easy enough to do on your own.

All you need is a whole chicken (patted dry) marinated with butter or olive oil, thyme, rosemary or basil, a dash of Worcestershire sauce and a tablespoon of Montreal Chicken Seasoning.

Marinate the chicken with the ingredients – especially inside the cavity – and tie the bird up around the wing and thigh area before placing in the roasting pan.

Preheat oven to about 180 to 200 degree Celsius and place a few potatoes (wrapped in aluminium foil) into the pan as well. Roast the chicken for approximately one hour and 15 minutes or until done; you can tell by the golden brown skin colour.

To make absolutely sure, prick the side of the chicken thigh to see if there’s a clear juice oozing out of it. Once you’re sure it’s done, remove the chicken and leave it aside to cool.

Cut the chicken into quarters and serve with a portion of baked potato. Last but not least, toss in a few salad leaves or a scoop of baked beans to complete your meal. (Serves four)

We at the HBA view with interest some housing project advertisements in the newspapers recently. They prominently state 10-90 as the mode of payment and went on to say, “Pay 10% and no payment until vacant possession.”

It would appear as if the mode of payment is similar to the Build-then-sell (BTS) 10-90 that HBA has been lobbying for and for which the Government is offering incentives to developers to adopt the system.

HBA feels that it is incumbent upon us to explain to potential house buyers the differences between the advertised 10-90 and the BTS 10-90 promoted by the Government under the amended Housing Act .

The advertised 10-90 system is actually a loan package deal whereby the buyer pays 10% upon signing the Sales and Purchase Agreement and the balance is progressively paid through the buyer’s housing loans. The loan is progressively disbursed to the developer as he builds the houses.

Hence the “… no payment until vacant possession” is not wholly true because, in actual fact, the buyer’s loan is used to progressively pay the developer. However, the interest payable for the progressive payments during the construction phase is shouldered by the developer.

In the BTS 10-90 system, the buyer pays 10% upon signing the SPA and does not make any more payment until the house is completed, with all the certifications obtained. Only then does the housing loan kick in and the buyer then pays the remaining 90%.

The vital difference between the advertised 10-90 system and the BTS 10-90 is that in the advertised 10-90 system, should the developer abandon the project, the buyer is left with a partially disbursed housing loan to settle.

The primary borrower is still the buyer and it is his sole responsibility to continue with the proper conduct of his loan from the financiers.

Banks have not been known to be sympathetic to victims of abandoned projects and the loans still have to be settled, house or no house. This is the predicament presently faced by tens of thousands of naïve and innocent buyers.

We would like to categorical­ly state that we are by no means implying that the advertised project is likely to be abandoned. This letter is only to inform potential buyers the differences between the advertised 10-90 and the BTS10-90 systems.

CHANG KIM LOONG,

Secretary General,

National House Buyers Association.

What I am going to relate below is my personal experience with credit card fraud. I hope to pass this message out so you will take necessary precautions to prevent any financial loss and identity theft.

Feel free to pass this message on to your contacts if you think it will help raise their awareness on credit card fraud.

It started with a simple sms…

Translation:
AXXXXX: Respected client, On 5/10/08 you have used your credit card at IOI Mall for amount RM4966, transaction code:CH875A, please make payment as soon as possible. Tel:03-79520900

I was alarmed to receive this sms because firstly, I have cancelled my credit card with this bank a few years ago and secondly, I have not been to IOI Mall for a long time.

Immediately I called the number stated in the sms and a Mr Tan picked up my call. He claims he works for the Customer Service Department of AXXXXX located at PJ.

Mr Tan told me that a person has applied for a Gold Master credit card from the bank on August 16, 2008 at their branch with a credit limit of RM5,000. This person used a home address at Taman Meru Utama, Klang on the application form.

On November 2, 2008, this person has swiped for the amount RM4966 using the credit card.

When I informed him that I did not apply for the card and that someone else has fraudulently used my identity, he asked me to call Bank Negara (the Central Bank) to report on this matter and to request Bank Negara to conduct an investigation and to issue an instruction to AXXXXX to suspend the credit card account. Meanwhile, he will notify his supervisor and they will conduct their own investigation on this matter.

He kindly gave me the Bank Negara’s number to call: 03-79661004 and specifically asked me to call this number.

Now I am really sure something fishy is going on because Bank Negara is located at KL but he gave me a number with a different area code. Another thing is that, with the necessary approvals, the bank itself can suspend the account without going through Bank Negara I am sure.

After that, I asked Mr Tan a few questions relating to the bank’s procedures on credit card transactions but he gave unsatisfactory answers. He kept asking me to call Bank Negara to report my case.

To find out more (or just plain curious) I went along with his advice and called the number he gave me and a Chinese lady called Carmen picked up the call. She continued speaking in Malay to me though I replied her in English. Very odd.

I briefly told her that I want to report on a credit card fraud whereby someone used my identity to apply for a credit card with AXXXXX and used the card last year.

After that, we went through a simple Q&A session of who, what, when, where, why, how…

Then it came to the last question… she asked me to disclose all my ATM and credit card numbers with all the banks I currently hold….

I ask her why she need this information. Her reply was… when Bank Negara run a check on all the credit card and bank accounts under my name, they will be able to know if the syndicate used my identity to apply for credit cards from other banks and suspend those accounts also (is that so?).

I then ask her if it is necessary for me to personally go to Bank Negara to fill a form with these information instead but she says… no, it is not necessary. After that, I told her that I do not have the numbers with me because I am currently not at home.

Told her that I will call back again the next day with the information because it is close to the end of their office hours (ie. 5pm). She then gave me a reference number, saying that I just need to call back with the information and provide the reference number so that I do not need to go through the whole process again.

She also reminded me, as a precaution, not to inform anyone, including my family members, about this matter for 3 days. This was the time needed for Bank Negara to conduct an investigation on my case. The reason being that they were afraid that someone close to me might be behind this fraud.

Don’t you feel they are really good at making you feel fearful of financial and identity loss and distrustful of the people around you, so that they can milk out the information they need from you?

After that, I called up the telephone directory assistance and asked for the telephone numbers of the PJ branch of AXXXXX and Bank Negara. Not surprising… the numbers do not match.

I called the two numbers a few days later but was unable to get through…

When I called the Contact Center for AXXXXX at 1300-80-XXXX, the person who picked up my call checked and confirmed that I do not have any active accounts with the bank.

She also told me previously there were cases in which people got duped in the same manner by this syndicate. Some of them have even lodged police reports.

With the current economic downturn, there are many unscrupulous people going around preying on unsuspecting victims for financial gains instead of earning money legally.

Please be very careful and remember to never disclose your personal, credit cards and banking accounts information to anyone.

Best regards,

Sany Woo @ http://sanywoo.com

TheStar Online (January 8, 2009)

KUALA LUMPUR: Consumers have been warned not to be fooled by con men calling up to offer discounts for those who use credit cards to pay for purchases at hypermarkets.

MCA Public Services and Complaints Department head Datuk Michael Chong said he too had received two such calls on his handphone.

The callers had urged him to sign up for a scheme that offered a 25% discount when buying goods from hypermarkets using his credit card.

He believed that the syndicate members, who he said could be foreigners based on their accents, were out to obtain the details of his credit card so that they could clone it.

“The callers said their company was based in Menara KL or KL Tower. When asked for the exact location of the office they said it was on the fourth floor but did not reveal the name of the company or its lot number,” he said.

His suspicions were aroused when they said things like only VIPs were allowed into the office and no form needed to be filled by card holders, adding that the discount cards would be sent by courier to their homes.

However, he said, no one had so far reported being duped by this particular syndicate.

His department’s legal adviser, Sam Yeong, said a credit card holder could be sued by the bank which issued the card for giving out the card’s number to a third party.

“Card holders are not supposed to reveal their credit card number to a third party. It is negligence on their part if they do so,” he said.