Great. That's definitely not your pic there Can share on what kind of online business you involve?

HEHEHE...BTW,not my real pic.its just a gimmick!

hmm..selling electronic gadgets and some accessories

---

Added on February 2, 2011, 1:01 pmi am also trade in LYN. my new bisness plus help my friend to finish his stocks - Check this out by click here



This post has been edited by nik2: Feb 2 2011, 01:01 PM

forex ka?

^

you don't read ah? it's online betting

Age-18,going to 19 by may
Jobs-Automobile sales advisor
Partime business-Mobiles online trader,Used car buy and sell
Asset-Honda accord year 2000 worth Rm37k
Mobile business worth 12-14k around.Depends on market
Bank Rm3k

Any comment ?Yes,The accord is my name but it's for buy and sell used car.
So,considered I don't have any cars as boss company got lots of car to use.

RM 8k for me per month is comfy life for me.

that's right.

8k is definately not enuf for a comfy life, unless ur defination of 'comfy' defers from mine

yea, not comfy if u guys keep on wasting money shopping n buying expensive things or luxury things.

not comfy if ur gonna buy a hse & hav to worry bout the kids future education.
lets not even fo to buyin exp, branded luxury things.

that 15k is the amount of money to spend to have a decent life, 5k save in the bank LOL

Single now. So RM 8k is definitely comfy for me.

Might not be comfy for those with families.

woah...such young age and have such net worth. Oh well, i'm all by my own. Grad 3 years ago

age: 26
job: Design engineer
single no GF (just broke up)
take home pay: 2.7k

House + expenses = 1.4k
CC bill = ~300

House = none
Car= old proton (the only gift my dad gave me when i grad so no loan)

Cash in bank = ~5k
Insurance = paying 2.4k per year. (Medical card with investment link)

I know at such age i have nothing but I'm trying hard to make some passive income. Hence, my CC bills every month. I keep failing but i nvr give up and stand up and keep going. I believe this year i'll be able to generate some passive income.

But one thing, i wonder why some of you call your house an asset if you still paying the loan to your bank? I mean if you need to pay let's say 1k to the bank every month and your rental is 500. So means the house become your temporary liability, right? It becomes asset when it generate passive income for you.

I don't know whether what I think is right or wrong but I'm going to generate some passive income and make sure that I am able to cover my house loan using the rental and passive income, then i'll get my property. Hmm.....

anyone, enlighten me, please?

I remember my dad once told me when we were smoking together outside the house

"Son, you are on your own now. Your dad don't have any money to support you and don't have anything to give u. If you want something, earn it. As long as don't do anything illegal"

Oh well. I'm working hard working hard....


This post has been edited by playerseeker: Feb 7 2011, 08:01 PM

The act of saving starts when ure single not when ure married. Once ure married its very difficult to save especially when u have kids. Thats why its very important to have a solid financial foundation BEFORE getting married n having kids.

For your info, i was already earning a 5 figure salary before i got married which i saved. Thus it was alot easier for me after marriage to deal with the additional expenses of setting up home and starting a family.

So 8K may be enough for a single to survive NOW but if ure planning on settling down then u better start thinking seriously bout saving alot of that 8K. Saving doesnt only mean saving for retirement. It also means having extra funds for emergencies.

This post has been edited by cybermaster98: Feb 8 2011, 09:21 AM

Saving 25% of your salary is not good at all. Everybody should target to save at least 40% with the current rising rates of inflation. Your 25% savings today might only be worth 10% in 10 years. So maintaining at least a 40% savings target now will provide the neccessary buffer against inflation.

For your info, im saving approx 55% of my salary every month and that is after taking into account the housing loans, insurance, bills and living expenses.

Step one would be to identify what potential there is based on your capabilities. Have you tried applying for a bank loan ?
That would help you identify what your investment potential is for real estate.
If you bank is willing to support, you can move pretty quick.

By talking to your loan officer you can find out what criteria you need to fill.

After that, its all read read read and hunt hunt hunt.
Good luck.

more income = more comfort

BUT MUST BE
when you didn't have any hutang from banks.(exception housing loan,car loan)

no credit cards and personal loans in your life
and make your strategy on your money to use for what and when depends on priority.

please asking AKPK for more info.

many are finding it hard to manage their expenditure

55% is unreal.....but if you can manage, btw does 55% include epf?

saving to buffer inflation may not be the best way forward....investing wisely maybe......

i can get bank loan but my principle is that my rental have to same or more than the amount i'm paying bank. Or any of you have better idea? Moreover, my cash in hand is little and I doubt I have the cash money to pay for the 10% and legal fee if I were to buy a property worth let's say 200k above...

now am trying to venture into small online business to generate some passive income tho. Failed few times and now I'm investing into another small online business which I can see that it's a special concept and good opportunity for me.

I'm thinking of other investment tho...such as burger stall or waffle stall or the water vending machine? But anyhow, see how. It's kinda hard for me to go into property especially i'm on my own now. . how i wish my dad can help me on the downpayment side...

Almost impossible for me to save more than 40% now unless i paid up my car loan. Currently, avg saving is about 25-30% of my current salary. Plan to settle my car and study loan first before start investing and of cos ways to increase my income