QUOTE(lonelyplanet92 @ Sep 20 2009, 09:02 PM)
do u mean PBB share or Public Mutual Fund?
90% of your money to oversea? investing the stocks there?How much is your net worth?, gauging your financial performance.
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 Sep 20 2009, 09:06 PM
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#1
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Senior Member
1,969 posts Joined: Oct 2007 From: CheRaS, KL  
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Sep 22 2009, 11:30 AM
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#2
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1,969 posts Joined: Oct 2007 From: CheRaS, KL
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hi guys,
i was thinking of a way to save money. i earn 2.4k a month and i just graduated on May this year. i was thinking of saving money with my current income and would like to invest if i got enough of money and i would like to know what kind of saving methods you guys are using. some forumers mentioned that save 15% of your gross income ( after EPF and other stuffs right? ) and use all the others? for my current situation, my spending and expenses in a month written below, Petrol = RM 350 Food = RM 400 (sometimes eat with gf and i spend it ) Utility bills = RM 450 Other expenses = RM 300 (Entertainment stuff and ETC) all add up together and deduct from my gross income, i only have below RM 700 left. is this good enough? come and share your methods and care to give me some advices? smile.gif thanks!! |
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Sep 22 2009, 12:35 PM
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#3
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1,969 posts Joined: Oct 2007 From: CheRaS, KL
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QUOTE(xuzen @ Sep 22 2009, 12:03 PM) If RM 700 is the surplus, it is a very good start. Start regular savings ASAP and defer big ticket spending. You have enough for your current level of commitment, but you do not have enough to take on big debts e.g. car or house. i not sure yet about the surplus because when i count it, there are something that might deduct my surplus every month. for example, my office parking monthly ticket, i have to pay advance 3 months and it cost me RM 189 and other stuffs like taking car to service, buying groceries and others maybe. Xuzen yeah. i have to admit that i can't buy house or new car but if i got at least RM 500 as savings. what can i do with it? invest in FD after save to RM 10k? and for sure that i know i will buy my own gadgets and i think it is a very difficult part for me now to save money. maybe in the future when i earn more, i will save more? |
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Sep 22 2009, 05:05 PM
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#4
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1,969 posts Joined: Oct 2007 From: CheRaS, KL
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QUOTE(xuzen @ Sep 22 2009, 12:54 PM) If you have RM 500 per month surplus, you can make a standing instruction with your bank to put the amount every month into a savings vehicle like a mutual funds. Which mutual funds to invest in, you talk to a Unit Trust Consultant of your choice. ic.. so it is desire versus necessity then. i know what i want but sometimes there are always temptations to buy things. If you want to buy the gadgets, separate it from what you desire from what you require. Desire vs necessity. When you are clear about its objective, it makes it easier to choose whether to buy or not. Xuzen  Unit Trust eh? but i really dont understand how unit trust works. is it the same with FD? i heard that unit trust is a investment of long term but it has higher risk and higher return profit compare to FD right? |
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Sep 22 2009, 11:21 PM
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#5
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QUOTE(Joink @ Sep 22 2009, 09:36 PM) You know what they say, Expenditure = Income - Saving if only the temptations > my objectives or target but for now i think there is nothing that can drift away from my target, Not the other way round...If you have left over money after your monthly expenditure & saving, you can use it on your temptations.... |
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Sep 24 2009, 09:18 AM
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#6
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1,969 posts Joined: Oct 2007 From: CheRaS, KL
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QUOTE(CrossFirE @ Sep 22 2009, 11:30 AM) hi guys, guys, any comments of my monthly usage and savings?i was thinking of a way to save money. i earn 2.4k a month and i just graduated on May this year. i was thinking of saving money with my current income and would like to invest if i got enough of money and i would like to know what kind of saving methods you guys are using. some forumers mentioned that save 15% of your gross income ( after EPF and other stuffs right? ) and use all the others? for my current situation, my spending and expenses in a month written below, Petrol = RM 350 Food = RM 400 (sometimes eat with gf and i spend it ) Utility bills = RM 450 Other expenses = RM 300 (Entertainment stuff and ETC) all add up together and deduct from my gross income, i only have below RM 700 left. is this good enough? come and share your methods and care to give me some advices? smile.gif thanks!! |
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Sep 24 2009, 10:08 AM
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#7
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1,969 posts Joined: Oct 2007 From: CheRaS, KL
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QUOTE(dreamer101 @ Sep 24 2009, 09:31 AM) CrossFirE, for example, if i can save around RM 700 or RM 500 at least. i can use the additional money to buy things? as you said have to save at least 15%?Gross income means salary/income before EPF and TAX and so on. So, your GROSS INCOME is 2.4K. To survive, you need to save at least 10% to 15%. 15% = RM360 per month. If you can consistently save RM700 per month, you can do better than only survive. But, first thing that you need to do is to A) Save 3 to 6 months of emergency fund. B) Study and learn about investment before investing. The second thing is to figure out how to go to the next level. Making 5K to 10K per month. Dreamer |
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Sep 24 2009, 11:15 AM
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#8
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1,969 posts Joined: Oct 2007 From: CheRaS, KL
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QUOTE(dreamer101 @ Sep 24 2009, 11:06 AM) kaiserwulf, how you own the bank?<<So everyone is indebted to the banks >> Not true. There are TWO KINDS of people. A) Those people that pays to the bank B) Those people that bank pays them I own bank. I make money from bank. I am not indebted to bank. It is YOUR CHOICE to be in (A) or (B). Dreamer Added on September 24, 2009, 11:10 am constant, So, you have NO PROBLEM if Malaysia sink to the level of Indonesia and Malaysians have to migrate to oversea just to find a job?? Dreamer |
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