13 Dec Leigh from Dividend Magic shares his spells for financial success
Next up in this interview series we have the creator of Dividend Magic, Leigh
Leigh is a certified Financial Planner in Malaysia.
He blogs at dividendmagic.com.my to document his journey to financial independence. Continue reading to find out what he has to say.
1. How did you get started on educating people on personal finance?
I’ve always been passionate about helping people with their finances as I believed that a few tweaks here and there can help Malaysians go a long way. It is one of the main reasons I got my Certified Financial Planner (CFP) license and also why I started Dividend Magic.
2. How did you personally get interested in personal finance as a topic and why?
When I realised people around me, family and friends especially, were actually in financial hell zones without realising it.
3. Personal finance can be a boring topic. When creating your content, how do you keep the topic of personal finance interesting?
I’ve always found being absolutely honest and a 100% transparent works with people. Always.
I draw from personal experiences in everything I’ve invested in, which helps my audience realise that investing isn’t difficult at all.
4. Is there a particular website/platform you like to visit for financial advice?
I go to different websites for different financial products. There isn’t a one size fits all website.
5. What is the number 1 tip you tell your audience when they want to start managing their finances?
People usually want to just jump in and invest in the stock market after seeing how well I do.
I, however, emphasize savings first.
I put them on the following path:
“Savings > Investment > Passive Income >
Reinvestment > Financial Independence”
6. Can you give me an example of a time in your life where you struggled with money?
Dare I say I’ve lived quite a comfortable life and I’m truly grateful for it.
I’ve struggled the most financially when I was in university and when I first started working. Managing my own income and expenses was easy in theory, but not practical.
7. What book or movie is a must for someone who wants to learn more in personal financing?
The book ‘The Millionaire Next Door’ would provide appropriate inspiration and motivation for personal financing.
8. What is something that you were sceptical about when it came to your personal finance but ended up working anyways?
Budgeting. Once you make budgeting a habit, it’ll work wonders for your finances.
9. What is the best advice ever you got for your own personal finance?
To always budget, save and invest.
10. Would you rather be good or lucky and why?
Lucky. Because if you’re perfect but opportunity doesn’t come your way, you’d end up mediocre anyway.
We all need a little luck sometimes.
ADDITIONAL ADVICE
Why do you think some people are lazy with the way they manage funds?
I’d say they are afraid of what they find and they don’t give themselves enough credit.
It doesn’t take a whole lot of intelligence to save and invest. We just need patience and let compounding work its magic.
Do you believe are the young these days financially illiterate? And why?
I think young Malaysians are more financially literate than their parents and previous generations. The internet has worked wonders.
What are you working on now?
I’m always working on increasing my passive income.
Currently, it comprises of dividends mostly. Also looking to dispose of some overvalued stocks in my portfolio.
If you want to learn the best budgeting, saving and investing strategies, head on over to Dividend Magic today!
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