• About
  • Advertise
  • Write For Us
  • Privacy Policy
  • Contact Us
Subscribe
Smart Investor Malaysia
Advertisement
  • Start Here
    • All
    • Guides
    • How-Tos
    • Analysis

    PropertyGuru: Malaysian Residential Property Market Continues To Face Challenges As Supply And Demand Declines

    Fed Turns The Tide In War On Inflation, But It’s Too Early To Declare Victory

    The Smart Investor’s Guide to Insurance

    Highlights: Malaysia’s Revised Budget 2023

    4 Reasons Why You Need To Invest In ETF

    SPY vs SPUS: A 2023 Comparison of S&P 500 ETFs

    It's time to embed ESG into your investment portfolio. | Credit: nattanan23 via Pixabay

    The Smart Investor’s Guide to ESG

    (L-R) Kenny Yee, Head of Research and Thong Pak Leng, Vice President of Equity Research

    Post 2023 Budget And Q4 Market Outlook Commentary By Rakuten Trade

    Image by dashu83 on Freepik

    Why This Economic Cycle Is Different?

    • Guides
    • How-Tos
    • Analysis
  • Investments
    • All
    • Asset Management
    • Stocks
    • Islamic Finance
    • Alternatives Investments

    Malaysia’s dance with FAANG Giants

    AIIMAN menjalin pakatan strategik dengan Bank Islam sebagai Rakan Pengedar Untuk Luaskan Capaian Kepada Produk Kekayaan Syariah

    E-mail Popup Warning Window Concept

    ICMR Research Series: Safeguarding Malaysian Investors Against Financial Scams

    How Is The Malaysian Property Industry Doing Post-Covid?

    What Can We Learn From The “Equity Risk Premium” About The Prospects For Equities Vs Bonds

    SC-Bursa: Measures To Boost Capital Market Vibrancy And Competitiveness

    Still Worth Investing In Sustainability In 2023?

    ICMR Research Series: Unexpected Life Situations And Industry Issues Drive Vulnerability For Malaysian Investors

    Bursa Malaysia Expands “Approved Securities” Criteria To Boost Market Vibrancy

    • Asset Management
    • Stocks
    • Islamic Finance
    • Alternatives Investments
  • Personal Finance
    • All
    • Cash Management
    • Grow Your Wealth
    • Protect Your Wealth
    • Distribute Your Wealth
    • Behavioural Finance

    Property Tussle: Being Left Homeless After Sister’s Death

    Employment Opportunity Fraud Syndicate: Lidt Cooperation Advertising Sdn Bhd Or Lidl Cooperation Advertising Sdn Bhd

    What You Need To Know About The Insurance Industry In Malaysia

    5 Rules For Malaysians To Improve Their Financial Wellbeing

    Tears In Heaven: Who Protects Your Insurance Money?

    Patterns And Types Of Cybercrime In Malaysia From 2016 To 2021: Part 2

    Patterns And Types Of Cybercrime In Malaysia From 2016 To 2021: Part 1

    ICMR Research Series: Millennials And Gen Z Must Plan Early For A Better Retirement In A Changing World Of Work

    The State Of Malaysia’s Education And Financial Literacy Among The Youths

    • Cash Management
    • Grow Your Wealth
    • Protect Your Wealth
    • Distribute Your Wealth
    • Behavioural Finance
  • Enterprise
    • All
    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    From left Eizzar Supiar, AVP - Evaluation, Cradle_ Adlin Yusman, Co-Founder of BeMalas_ Suthenesh Sugumaran, Co-Founder of BeMalas_ and Joyce Wee, Former Executive Director of Etalage

    Cradle Circle: Bridging Visionary Startups and Investors in Second Series Event

    Gorgeous Geeks Marks 15 Years of Empowering Women in Technology

    MDDA Celebrates 30 Years of Industry Excellence

    DNA Mapping, A Revolutionary Medical Breakthrough

    Thomson Ushers In New Treatment for Spinal Muscular Atrophy

    Authority Institute’s Maverick Foo named Vistage Malaysia’s Speaker of the Year

    Digital Niaga Empowers Local Businesses With Digital Access To Financial Solutions for Micro, Small Medium Enterprises’ (MSMEs)

    Bizsu: On A Mission To Cool Down The World And Save The Environment

    Management team of Web Bytes Sdn Bhd (from L-R) at the Launch of Xilnex Retail Tech Experience Center: Ng Tiong Kuan, COO; Lee Ming Kew, CFO; Ooi Boon Sheng, CEO; Eng Aik Kian,  CTO (far right); Tan Wei Kit, Business Development Director (2nd from right) with Lee Kah Hin Jerry, Chief Investment Officer of GD Express Bhd (4th from right) and Ken Phua, Deputy President of MRCA (3rd from right)

    Web Bytes Unveils Wonders Cafe As The Hub For Xilnex Retail Tech Experience Center

    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    • Fintech
  • Property
    • All
    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    From left Eizzar Supiar, AVP - Evaluation, Cradle_ Adlin Yusman, Co-Founder of BeMalas_ Suthenesh Sugumaran, Co-Founder of BeMalas_ and Joyce Wee, Former Executive Director of Etalage

    Cradle Circle: Bridging Visionary Startups and Investors in Second Series Event

    Gorgeous Geeks Marks 15 Years of Empowering Women in Technology

    MDDA Celebrates 30 Years of Industry Excellence

    DNA Mapping, A Revolutionary Medical Breakthrough

    Thomson Ushers In New Treatment for Spinal Muscular Atrophy

    Authority Institute’s Maverick Foo named Vistage Malaysia’s Speaker of the Year

    Digital Niaga Empowers Local Businesses With Digital Access To Financial Solutions for Micro, Small Medium Enterprises’ (MSMEs)

    Bizsu: On A Mission To Cool Down The World And Save The Environment

    Management team of Web Bytes Sdn Bhd (from L-R) at the Launch of Xilnex Retail Tech Experience Center: Ng Tiong Kuan, COO; Lee Ming Kew, CFO; Ooi Boon Sheng, CEO; Eng Aik Kian,  CTO (far right); Tan Wei Kit, Business Development Director (2nd from right) with Lee Kah Hin Jerry, Chief Investment Officer of GD Express Bhd (4th from right) and Ken Phua, Deputy President of MRCA (3rd from right)

    Web Bytes Unveils Wonders Cafe As The Hub For Xilnex Retail Tech Experience Center

    • First Time Home Buyers
    • Central
    • Northern
    • Southern
    • Sabah & Sarawak
    • Regional / Global
    • Feature
  • ESG
  • Lifestyle
  • News & Events
  • Bahasa Melayu
No Result
View All Result
  • Start Here
    • All
    • Guides
    • How-Tos
    • Analysis

    PropertyGuru: Malaysian Residential Property Market Continues To Face Challenges As Supply And Demand Declines

    Fed Turns The Tide In War On Inflation, But It’s Too Early To Declare Victory

    The Smart Investor’s Guide to Insurance

    Highlights: Malaysia’s Revised Budget 2023

    4 Reasons Why You Need To Invest In ETF

    SPY vs SPUS: A 2023 Comparison of S&P 500 ETFs

    It's time to embed ESG into your investment portfolio. | Credit: nattanan23 via Pixabay

    The Smart Investor’s Guide to ESG

    (L-R) Kenny Yee, Head of Research and Thong Pak Leng, Vice President of Equity Research

    Post 2023 Budget And Q4 Market Outlook Commentary By Rakuten Trade

    Image by dashu83 on Freepik

    Why This Economic Cycle Is Different?

    • Guides
    • How-Tos
    • Analysis
  • Investments
    • All
    • Asset Management
    • Stocks
    • Islamic Finance
    • Alternatives Investments

    Malaysia’s dance with FAANG Giants

    AIIMAN menjalin pakatan strategik dengan Bank Islam sebagai Rakan Pengedar Untuk Luaskan Capaian Kepada Produk Kekayaan Syariah

    E-mail Popup Warning Window Concept

    ICMR Research Series: Safeguarding Malaysian Investors Against Financial Scams

    How Is The Malaysian Property Industry Doing Post-Covid?

    What Can We Learn From The “Equity Risk Premium” About The Prospects For Equities Vs Bonds

    SC-Bursa: Measures To Boost Capital Market Vibrancy And Competitiveness

    Still Worth Investing In Sustainability In 2023?

    ICMR Research Series: Unexpected Life Situations And Industry Issues Drive Vulnerability For Malaysian Investors

    Bursa Malaysia Expands “Approved Securities” Criteria To Boost Market Vibrancy

    • Asset Management
    • Stocks
    • Islamic Finance
    • Alternatives Investments
  • Personal Finance
    • All
    • Cash Management
    • Grow Your Wealth
    • Protect Your Wealth
    • Distribute Your Wealth
    • Behavioural Finance

    Property Tussle: Being Left Homeless After Sister’s Death

    Employment Opportunity Fraud Syndicate: Lidt Cooperation Advertising Sdn Bhd Or Lidl Cooperation Advertising Sdn Bhd

    What You Need To Know About The Insurance Industry In Malaysia

    5 Rules For Malaysians To Improve Their Financial Wellbeing

    Tears In Heaven: Who Protects Your Insurance Money?

    Patterns And Types Of Cybercrime In Malaysia From 2016 To 2021: Part 2

    Patterns And Types Of Cybercrime In Malaysia From 2016 To 2021: Part 1

    ICMR Research Series: Millennials And Gen Z Must Plan Early For A Better Retirement In A Changing World Of Work

    The State Of Malaysia’s Education And Financial Literacy Among The Youths

    • Cash Management
    • Grow Your Wealth
    • Protect Your Wealth
    • Distribute Your Wealth
    • Behavioural Finance
  • Enterprise
    • All
    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    From left Eizzar Supiar, AVP - Evaluation, Cradle_ Adlin Yusman, Co-Founder of BeMalas_ Suthenesh Sugumaran, Co-Founder of BeMalas_ and Joyce Wee, Former Executive Director of Etalage

    Cradle Circle: Bridging Visionary Startups and Investors in Second Series Event

    Gorgeous Geeks Marks 15 Years of Empowering Women in Technology

    MDDA Celebrates 30 Years of Industry Excellence

    DNA Mapping, A Revolutionary Medical Breakthrough

    Thomson Ushers In New Treatment for Spinal Muscular Atrophy

    Authority Institute’s Maverick Foo named Vistage Malaysia’s Speaker of the Year

    Digital Niaga Empowers Local Businesses With Digital Access To Financial Solutions for Micro, Small Medium Enterprises’ (MSMEs)

    Bizsu: On A Mission To Cool Down The World And Save The Environment

    Management team of Web Bytes Sdn Bhd (from L-R) at the Launch of Xilnex Retail Tech Experience Center: Ng Tiong Kuan, COO; Lee Ming Kew, CFO; Ooi Boon Sheng, CEO; Eng Aik Kian,  CTO (far right); Tan Wei Kit, Business Development Director (2nd from right) with Lee Kah Hin Jerry, Chief Investment Officer of GD Express Bhd (4th from right) and Ken Phua, Deputy President of MRCA (3rd from right)

    Web Bytes Unveils Wonders Cafe As The Hub For Xilnex Retail Tech Experience Center

    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    • Fintech
  • Property
    • All
    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    From left Eizzar Supiar, AVP - Evaluation, Cradle_ Adlin Yusman, Co-Founder of BeMalas_ Suthenesh Sugumaran, Co-Founder of BeMalas_ and Joyce Wee, Former Executive Director of Etalage

    Cradle Circle: Bridging Visionary Startups and Investors in Second Series Event

    Gorgeous Geeks Marks 15 Years of Empowering Women in Technology

    MDDA Celebrates 30 Years of Industry Excellence

    DNA Mapping, A Revolutionary Medical Breakthrough

    Thomson Ushers In New Treatment for Spinal Muscular Atrophy

    Authority Institute’s Maverick Foo named Vistage Malaysia’s Speaker of the Year

    Digital Niaga Empowers Local Businesses With Digital Access To Financial Solutions for Micro, Small Medium Enterprises’ (MSMEs)

    Bizsu: On A Mission To Cool Down The World And Save The Environment

    Management team of Web Bytes Sdn Bhd (from L-R) at the Launch of Xilnex Retail Tech Experience Center: Ng Tiong Kuan, COO; Lee Ming Kew, CFO; Ooi Boon Sheng, CEO; Eng Aik Kian,  CTO (far right); Tan Wei Kit, Business Development Director (2nd from right) with Lee Kah Hin Jerry, Chief Investment Officer of GD Express Bhd (4th from right) and Ken Phua, Deputy President of MRCA (3rd from right)

    Web Bytes Unveils Wonders Cafe As The Hub For Xilnex Retail Tech Experience Center

    • First Time Home Buyers
    • Central
    • Northern
    • Southern
    • Sabah & Sarawak
    • Regional / Global
    • Feature
  • ESG
  • Lifestyle
  • News & Events
  • Bahasa Melayu
No Result
View All Result
Smart Investor Malaysia
No Result
View All Result
Advertise with Smart Investor Advertise with Smart Investor Advertise with Smart Investor
Home Lifestyle

More Money, More Happiness?

1 year ago
in Lifestyle
0
money
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Subscribe to Smart Investor E-Magazine Subscribe to Smart Investor E-Magazine Subscribe to Smart Investor E-Magazine

I used to be a full-time musician a decade ago. I produced and arranged music from a home studio consisting of pre-owned musical gears that I bought mostly through eBay.  I was always doing research and upgrading my audio gears from time to time, ranging from keyboards, microphones, sound modules, audio interface, software, and so on. Even though music is a niche and relatively small market, there is an array of equipment available and I was spoiled by vast choices.

Costly Sound Bites

For example, just in the area of vocal microphones under Neumann Solution DS, you could find one in the price range of RM100 up to RM50k. I would first buy an entry level microphone, then upgrade it after making more money from music gigs. My first studio mic was about RM800. Then I had one that was RM2,000 a few years later. What was the difference? Of course, it was more expensive but records better quality audio. It captured a wider spectrum of sounds. However, when I played the recording clips from these two different mics to friends, most of them could not hear the difference. The improvement was very subtle.

How about those mics that cost more than RM10k? It is true that the sound quality will be better. But what is the degree of improvement? If we put it in a graph representation, let’s say the entry-level mic gives a quality of 80%, while the RM2k-mic will boost it to 90%, and the RM10k-mic will produce 95%. However, when you consider the premium you need to pay, is it worth it? There is no right or wrong answer. It depends on your needs and affordability.

money

What Price for Prestige?

Another case we can examine is the passenger cars segment. For a sedan, there are many models from many different brands. Consider the most affordable Perodua Bezza, the value-for-money Honda Civic, the flashy BMW 5-series, or even the stately Bentley Flying Spur. All these vehicles have the same functions like air-conditioning, air-bags, automatic transmission and so on but the most important aspect is that you will get to your destination with any of these cars.

Now let’s consider the pricing. The cost of a brand new     

BMW 5 Series 530i M Sport (CKD) (2017) (RM388,888) gives you a budget to buy up to 10 Perodua Bezza. I understand that the feeling and satisfaction you will get out of driving a BMW would be much better than a Perodua. But you will have to pay 10 times the price. Will you be getting 10 times the satisfaction?

Again, it depends on your level of wealth. You can own a luxury car when you are rich and can make good economic use of the money. From these examples, you can see that there is a premium to be paid for all the good stuff. Most of the time, you might need to fork out two times, five times or even 10 times more just to enjoy maybe a 20% boost of value.

Consider the Value of your Money

I would urge you to contemplate whenever you think of paying an extra premium for better stuff or better service. If it is for something within your budget, then go ahead. But when affordability becomes an issue, do consider the value of your money. There are always alternatives that can meet your budget and give you the best stretch for your money.

There was a research done about the level of wealth versus happiness. Psychologist Daniel Kahneman during his TED talk in 2010 made a note of studies that showed that earning less than US$60,000 per annum can have a significant effect on your happiness levels. It means when you are earning less than RM240k a year, every ringgit will contribute proportionately to your happiness. However, when it comes to making more than US$60,000 per annum, there is entirely no correlation between more income and more happiness.

money
Source: The Hedonic Treadmill

More wealth does not convert to a prorated happiness boost. Similarly, when it comes to material consumption, most of the time, even when you pay 10 times the premium, it does not translate to 10 times better quality.

If this is true, how do you gain more happiness? The simple act of getting a new car, a bigger house, or a more exotic vacation is no longer the solution. I suggest that you look into areas that give you real satisfaction. Would it be a more meaningful job? Is it the freedom to make life choices? Or perhaps it would be spending more quality time with family? Know yourself.

About the author

KCLau is a financial educator, having published seven books including the current bestseller Money Smart, and co-created a dozen online financial courses. He gives away his popular Money Tips e-book volumes free at his website: https://KCLau.com

Previous Post

Home Remedies to Stop Type 2 Diabetes

Next Post

How to Handle Family Disputes About Ageing Parents?

Next Post
ageing

How to Handle Family Disputes About Ageing Parents?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ESG Evolve 2023 ESG Evolve 2023 ESG Evolve 2023
  • Trending
  • Comments
  • Latest
From left Eizzar Supiar, AVP - Evaluation, Cradle_ Adlin Yusman, Co-Founder of BeMalas_ Suthenesh Sugumaran, Co-Founder of BeMalas_ and Joyce Wee, Former Executive Director of Etalage

Cradle and Bursa Malaysia Collaborate to Facilitate Listing of Local Startups in Bursa Malaysia

11/09/2023

Robo Advisor In Malaysia, 8 Robo Advisor Platforms To Choose From

17/08/2022
drawbacks unit trusts investment

5 Drawbacks Of Unit Trusts Investment That You Should Know Before Investing

19/09/2023
A calculator on financial chart, financial concept

Tax For The 6 Common Investments In Malaysia

19/09/2023

Digital Fundraising Platforms in Malaysia

Retirement Plans for the Self-Employed

SC Guidelines On Digital Assets

Retirement planning advise from the experts

Retirement Planning: Best Practices and Advice From Experts

Datuk Ir. Dr. Dennis Ganendra Achieves Coveted RAE International Fellowship for Exceptional Engineering Contributions

21/09/2023

Worldwide Holdings Berhad Leading the Green Revolution

21/09/2023

Malaysia’s dance with FAANG Giants

21/09/2023

ESG Evolution: COP27 to Carbon Stocks Insights

20/09/2023

Datuk Ir. Dr. Dennis Ganendra Achieves Coveted RAE International Fellowship for Exceptional Engineering Contributions

2 days ago

Worldwide Holdings Berhad Leading the Green Revolution

2 days ago

Malaysia’s dance with FAANG Giants

2 days ago

ESG Evolution: COP27 to Carbon Stocks Insights

3 days ago
Smart Investor Malaysia

© 2023 Smart Investor Malaysia | The contents on this website are for educational purposes only. You should always seek your own professional advice from the appropriate financial advisor or institution.

Category

  • About
  • Subscribe
  • Write For Us
  • Payment Policy
  • Shipping Policy
  • Cancellation and Refund Policy
  • Privacy Policy
  • Contact Us

Sign up to read our newsletter

  • Start Here
  • Investments
  • Personal Finance
  • Enterprise
  • Property
  • ESG
  • Lifestyle
  • News & Events
  • Bahasa Melayu

© 2023 Smart Investor Malaysia | The contents on this website are for educational purposes only. You should always seek your own professional advice from the appropriate financial advisor or institution.

No Result
View All Result
  • Start Here
    • Guides
    • How-Tos
    • Analysis
  • Investments
    • Asset Management
    • Stocks
    • Islamic Finance
    • Alternatives Investments
  • Personal Finance
    • Cash Management
    • Grow Your Wealth
    • Protect Your Wealth
    • Distribute Your Wealth
    • Behavioural Finance
  • Enterprise
    • Startups
    • Entrepreneurs
    • SMEs
    • Leadership
    • Business Planning
    • Fintech
  • Property
    • First Time Home Buyers
    • Central
    • Northern
    • Southern
    • Sabah & Sarawak
    • Regional / Global
    • Feature
  • ESG
  • Lifestyle
  • News & Events
  • Bahasa Melayu

© 2023 Smart Investor Malaysia | The contents on this website are for educational purposes only. You should always seek your own professional advice from the appropriate financial advisor or institution.