Page 7 - Berita Sunway - Issue 67

TIME TO TRIM!

Sunway staff share their take on rising cost of living

Prices have soared, income has stagnated, or in We are mindful of our grocery shopping,
some cases like mine, actually reduced. I moved in to comparing prices before any purchase, and chose to
a new house last year and it costed a lot of money as buy promotional items or non-perishable
we needed to furnish the house. items in bulk. VOICES OF SUNWAY
How am I coping financially with my family? However, I do see light at the end of
Barely. Our savings have been wiped out. We have the tunnel as our short-term extra loans
taken multiple small loans to cover immediate only have a year or two more to go. I
payments, cancelled our child's art and ballet classes foresee my wife and I earning more in the
and limit my meals to an average of RM3 per day. near future. Besides that, my daughter is
How do I manage? I only consume rice and becoming increasingly independent and
veggies at cheap eateries. It costs me only RM3 we may discontinue her school day care.
for the food and 20 cents more if I need I believe the economy will improve by
a glass of plain water. We have also mid of next year. I am not into politics, but
cut down on our family outings. I hope those in charge will do the right
thing to get Malaysia’s economy moving
forward. I hope that my prediction is right,
else, I will need to get another part-time job
to make ends meet.

Kenny Rajendran Loovi, 43, Sunway Winstar

The sluggish economy that we are experiencing is not Secondly, we switched from eating out frequently to BERITA SUNWAY | JAN—MAR 2020
inclusive only to Malaysians. It is a worldwide economic eating healthier meals at home. My husband and I take
slowdown, notably due to the trade war between the US turns to cook. We try to stay healthy and avoid unnecessary
and China as well as climate change that has caused many visits to the doctor, hence reducing medical costs.
costly natural disasters. As an educator, I often highlight the real economic
Everyone is and will be affected. The real question is situations to my finance students. They use yield curve in
how do we cope with it? As a former economist at Asian my Fixed Income Portfolio Management class to forecast
Development Bank and Bank Negara Malaysia and currently the future direction of the economy, and as predicted, the
a Finance Senior Lecturer, I can testify with full conviction flattish yield curve of Malaysian government bond shows
that I am also affected by the rising cost of living. economic uncertainty.
It takes a toll especially when we have I’ve introduced them to investment and trading, in hopes
children — food, necessities and education that with their knowledge, proper strategy and wisdom, they
expenditure. These expenses are inevitable will be able to make some income from the stock market.
and are not something we can sacrifice as Last but not least, I am always looking out for
it is essential for their future. ‘free lunch' aka scholarship opportunities, free online
Let me share several measures that courses from top universities, free talks by distinguished
I have taken to cope with the situation. scholars, and more to continuously upskilling myself
First and foremost, delayed gratification. and my children.
I stopped buying unnecessary items. It is crucial to educate oneself on better financial
For instance, new clothes that I don’t really planning and be inquisitive of the many opportunities and
need but is of the latest fashion. alternatives out there. Malaysia Boleh!
In other words, I am more prudent with
my expenditure and I am only spending on neccesities.
Likewise, I teach my children the value of money and the
importance of saving up for their future.

Dr Nur Ain Shahrier, 38, Sunway University Business School
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