How much is your net worth?, gauging your financial performance.
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 Apr 8 2013, 09:33 AM
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#1
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Senior Member
4,789 posts Joined: Jul 2007 
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Age: 28
Occupation: Middle Class tax payer Marital Status: Not Married but got gf. Asset(s): house 418k but owe 375k Car loan: bought 90k owe 50k Insurance: prudential 300 a month.. dunno got what Investment: FD: non Cash in Bank - RM1K Cash in Hand - RM200 |
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Apr 8 2013, 09:37 AM
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#2
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(Pink Spider @ Apr 8 2013, 09:36 AM) Eee u need more cash in reserve, what if u lose your job? Then your house and car gone case i spend 5k a month in everything under the moon At least 6 months of expenses in reserve needed as u got 2 financial commitments  so means i need 30k? whoa... how to save wor... wait for my bonus to come in |
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Apr 8 2013, 10:03 AM
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#3
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(Pink Spider @ Apr 8 2013, 10:00 AM) When bonus come in, park it aside for emergencies due to changing jobs, i have not have a solid bonus for 2 years now   let's see do you weigh bonus or higher salary on the "more important" scale? |
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Apr 8 2013, 10:18 AM
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#4
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(Pink Spider @ Apr 8 2013, 10:10 AM) My salary is slightly below market average, but bonus cover balik the shortfall, if that's what u meant my monthly income and spending does not allow for any savings  Serious, cash in reserves is very important, start with 3 months maybe, slowly build up to 6 months there's no room to reduce spending as all are towards the car / home / family i have to start saving using my bonus which is months aaway |
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Apr 8 2013, 10:28 AM
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#5
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(jasontoh @ Apr 8 2013, 10:25 AM) I prefer bonuses, although I will not want a very low salary with very high bonuses. If you have high monthly salary, and you lack of financial management knowledge, you might leverage yourself to the max, which is happening right now. Anyway, my case is my pay is slightly on par or below market, but I'm getting bonuses, though in stocks. soon it will be less leveraged with the completion of the house and i start to rent out (easy peasy place to rent out, the main reason why i bought) hence a large savings therei've removed these from my costs 1. rent (move in back with parents) 2. additional internet bills 3. reduced home internet bills 4. food costs waiting for the next 2 months for any bonus / increment or do you guys think that 1. i should wait for this guaranteed bonus & increment 2. go with a higher paying job (+30%) |
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Apr 8 2013, 10:36 AM
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#6
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(jasontoh @ Apr 8 2013, 10:32 AM) Don't count eggs that are not hatched eg. rental income. correct... i'm possibly down with an installment payment of RM1.7k that i have to pay myself =.= Regarding your job hopping, mind if I asked you, do you think you will want to job hop forever, just to get the 30% increase. Another question to you is do you think your skillset also jump 30% at the same time. Another question is do you think you can confirm get new job with 30%? Another question is, if you think you can get higher in other places, why not direct go nego with your boss and ask for a promotion and get the same increment? i'm more positively minded though haha... i want to job hop until 1. i think i have achieved something 2. omg, my skillset remains the same, maybe sharpened through a very steep learning curve 3. confirm, possibly +40%... 4. because its non-nego where i am. you tak suka you keluar BN attitude |
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Apr 8 2013, 10:37 AM
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#7
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(jasontoh @ Apr 8 2013, 10:32 AM) Don't count eggs that are not hatched eg. rental income. correct... i'm possibly down with an installment payment of RM1.7k that i have to pay myself =.= Regarding your job hopping, mind if I asked you, do you think you will want to job hop forever, just to get the 30% increase. Another question to you is do you think your skillset also jump 30% at the same time. Another question is do you think you can confirm get new job with 30%? Another question is, if you think you can get higher in other places, why not direct go nego with your boss and ask for a promotion and get the same increment? i'm more positively minded though haha... i want to job hop until 1. i think i have achieved something 2. omg, my skillset remains the same, maybe sharpened through a very steep learning curve 3. confirm, possibly +40%... 4. because its non-nego where i am. you tak suka you keluar BN attitude |
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Apr 8 2013, 10:44 AM
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#8
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Senior Member
4,789 posts Joined: Jul 2007
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QUOTE(jasontoh @ Apr 8 2013, 10:40 AM) My point of view is this. Company hire you because of your skillset. If your skillset remains the same, do you think the new employer willing to fork out additional 40% to hire you? Let's assume you are a boss, you got 2 candidates to hire, 1 experience, but skillset remain the same, demanding 40% higher, another fresh, same skillset, which one you hire to optimize your profit? How do you know it is non-nego? If you are good until outside can pay 40% increase for you, why not your boss just give you an increment 20%? Correct but... I have a very particular set of skills. Skills i have acquired over a very long career (not too long, maybe 5 years?). Skills that make me a delight (i changed it i know) for people like employers (i changed it again from the original quote) its a Middle level / Executory level job though.. not top notch yet haha because, what particular skill set i have is more highly valued elsewhere |
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