BFM Ringgit and Sense Podcast: Budgeting in Malaysia – Financial Mistakes to Avoid in 2026

Our CEO and founder, Ian Wong was recently invited to BFM89.9’s Ringgit & Sense podcast to speak with Jake Lim on the topic of money mistakes to avoid in 2026 and some key considerations when it comes to budgeting in Malaysia.

Taking inspiration from Uno Adviser’s article on Money Mistakes to Avoid in 2026 that was recently published on our website.

Ian and Jake discussed areas that individuals tend to overspend on during festive seasons, especially when it comes to family-related expenses such as sprucing up the house, upgrading household appliances, buying new clothes, etc. One pitfall highlighted is that many of these new purchases may not be entirely necessary, but are still bought on the idea of having a “fresh” start for the new year or that it is for the benefit of the entire family.

Transitioning into the topic of income vs expenses to better manage one’s finances, Jake brought up a case study featuring a couple in their mid-30s living in Kuala Lumpur, who are struggling to save money monthly despite earning a combined income of over 5 figures per month due to their lifestyle habits. While Ian agreed that spending is often a big factor in managing wealth, income growth is often overlooked where an individual should also look into how they can grow their income levels.

Ian also shared valuable advice as a financial planner that while saving and investing is important, it is also crucial for individuals to reward themselves, so long as the financial goals can be achieved.

Jake also brought up the topic of the “Trinity of Investment”, which is a guideline to identify the best investment in Malaysia for one’s individual needs, by weighing three factors: liquidity, capital preservation or safety, and returns. Continuing on the topic of investing, for beginners, Ian advised that it is more important to cultivate the habit of setting aside money for investing instead of focusing on where to invest in Malaysia.

The conversation then proceeded to the topic of insurance coverage. While high insurance payouts may be enticing, it often equates to higher premiums. Ian shared that the key consideration should be on whether the coverage is able to cover the test of time and would be able to cover the bills adequately.

Thank you for the invite and we look forward to sharing more financial advice to empower Malaysians!

Listen to the full podcast here.