Yes, the whole. A few years ago in KK.

Not to judge you since i dont know all details about you but:

1) Did u need to get a car? Why not a bike?
2) Rent an apartment as compared to getting a small room?
3) What entertainment? Could this have been cut down to suit your income?
4) Was your lifestyle in accordance with a 1500 salary or a 2500 salary?

Many ways of looking at this and maybe an equal number of ways to cut down expenses.

Where there is a will there will be a way

Hi all,
I've been working for 6 months and I am able to save around 1k per month.
Am I getting on the right track, and which way is the best way to start investing with 10k?? ASB? Starting a small business?
Thank you!!

how about half amount just put inside asb and the balance starting your small business?

I see, thanks for your suggestion, but I doubt I can start anything with 5k

whats your monthly salary?

ASB is a good start

1. Car is a necessity not a want.

2. Small room cost RM 250~300. Shared bathroom, living room, bla bla. And worst of all, bad experience as I used to be a landlord for room renting.

3. Entertainment? Movies (boring day) & Golf (social necessity).

4. Lifestyle accordance to RM 2.5k salary. Not much to cut actually.

It depends on what one need to achieve in life. I spend hefty amount on social events/clubs/sports. That is why I'm able to get a fast track on my business.

Hi anangryorc,

Dun doubt that 5k cant start anything. Try to be creative, some business do not need such big amount of money to start up. But of course, it depends on your business expectation. As people say, small got small way, big got big way.

Guess what, I'm starting little business of mine for a mere rm300. You might ask is that possible, trust me, it is possible. Slowly grow your business but the most importantly is to create a cash flow 1st and to take the 1st step. And don't be greedy and be realistic on your goal.That's what you need. Business doesn't mean you need 100k or 200k to start up. . Like one of the forumer here said before, it's creativity that conquer the market now. .

I wish you luck and think hard of what business or investment you can venture in instead of having doubt about your fund.

p/s: I wish I have 5k to start with the business.

2.8k.

Actually I was tempted to start a tuition business partnering my friend, but with 5k, chances seem slim.

This post has been edited by anangryorc: Feb 10 2011, 07:51 PM

Alright... Rm3000 income.

40% of that is Rm1200, so you have Rm1800 to spend.

Say you work 5 days a week (20 days a month.)

Rent is 300.
Food is 300.
Transport is hmm.. say you want to be luxurious and take a cab to and from work every day, maybe Rm30 a day? that's Rm600.

300+300+600 = Rm1200. Still have Rm600 a month to spend, don't know where to spend it.

Say you really like to leave all the fans and lights on, so maybe Rm400 power bill.

Still got Rm200 don't know where to spend.

Why cannot?

This post has been edited by wodenus: Feb 10 2011, 09:10 PM

Are you guys talking about 3000 salary or specifically 3000 net income?

If it's the former, include income tax, EPF and Socso deductions please.

This post has been edited by crashoverride: Feb 10 2011, 09:35 PM

oh, coincidentally I started my tuition center not too long ago as well,

well, 5k can start a tuition business, depending how you want to do it. I started mind with a lil bit more tho, at about 7-8k.

I would say dont do it, 2.8k salary is decent, keep your job

---

Added on February 10, 2011, 10:02 pmthats damn cheap man, even 2 room wooden house here in Ranau also cost RM 350 liao.

now rental in KK seems to follow how many rooms that particular property have, minimum RM300 per room



This post has been edited by ah_suknat: Feb 10 2011, 10:05 PM

Just got to go out there and search every inch of KK for cheap unit to rent, as my salary was not high then.

What about

Tax, EPF, Utilities, entertainment, children expenses, insurance, clothing, ?
Can you REally survive on 300 on food? Eat bread ksosong everyday?
O BTW what you the 10 days? Stay in the rented room?

You don't need to rent a space or buy much things to start, you can start giving tuition at home, eg your students home etc. Good luck.

with 5k, there is alot of products you can start with. before this i'm only start my business using only rm300 at the beginning.

find your supplier and your potential products and try to sell it in our country first and then try market outside malaysia

Yes so again its about creating a balance between your personal lifestyle and what is required to facilitate business growth. For your info, i too am in the corporate line and deal with some high profile clients. But in doing that there are always ways n means to get what you want with minimal expenditure. You will see that your entertainment costs are the main factor eating into your overall expenditure. Learn to manage that well and im sure u can achive a decent level of savings.

Again, i cant analyse your situation. You will be the best person to do so. BUt im sure that you will find ways to trim if u really look into it.

Back to my earlier comment. Should you be starting a family with a RM 3,000 salary? That should be the question here not the others. If you know that ure gonna find it difficult to maintain a family with that salary then shouldnt you be working to get that income bracket up before that?

In saying that, i also know of ppl who are earning such a salary and still are able to save & have a family. They spend on whats neccessary and cut down on other wasteful spending.

3k salary where got enough... for one person also barely survive

Maybe one can do it in a small town, but in KK, RM 3k is barely enough for a family, totally not advice to start a family with RM 3k. My dad spend around RM 3~5k per month on our family monthly expenses (mind that we live in Sibu, Sarawak which has the lowest living expenses in the state.)

But sometimes I wonder, my office boy can survive for RM 1.5k feeding all his 5 children.