There is a transportation called motorbike.


It is an exponantial factor, you spend first then no saving left for investment purpose that can generate you passive income, even FD also is a passive income generator.

We have motorbike that can be used as transportation as well. Not necessary between public transport and car only.
I don't know why people never consider this option.
In fact, motorbike is more effective in traffic jam time, more time saved.

Saving 20-30k, even pathetical FD rate at 3%, still generate you Rm900 pa, equivalent to about Rm80 per month to pay off your bill. As time pass, those saving and passive income factor can replicate and compounded even bigger as compared spending all to loan repayment each month with little saving left.

One with figure going up (saving), one with maintaining at zero (spend all), for sure, as time goes, the gap will be widen.

By then the passive income become substantial, which at that times, only thinking of changing new car also too late, which financial situation become more comfortable.

This post has been edited by cherroy: Dec 16 2010, 09:45 AM

Well agree with you on the option of saving and having a passive income but i have to disagree when the source of transportation is motorbike. Actually i have tought of it, wanted to get a Naza Blade to ride to office but in 6 months time i saw 4/5 motorbike accident on Elite highway where i travel and commute daily. After deep consideration i choose not to opt for a bike due to safety reason.

I dorwan to save a little and end up dying .

yeah like i'm saying, depends on other external factors. probably in Penang, it's relatively safer to ride bikes, as it's predominantly filled with bikes. also, drivers there are more accustomed to bikes etc. but no so in Klang valley..so what do you end up with? my take, a cheapo kancil definitely gives a higher survivor rate than a bike.

Hi I would like to have some opinions.

I'm have a 100% flexi Housing loan for -1.5blr next 4 yrs.
And around 30k extra in the account for deduct interest.

If I wanted to buy a car now, should I use that 30k as deposit for car downpayment or keep it in the flexi house loan?

Car about 80k with 2.8% interest

actually key to save money is, risk your life to accident and life become boring ...

depend what you want.

Then, what is the point to save money when you will die the next minute?

---

Added on December 16, 2010, 2:15 pmA lot of way to do it actually. Get a cheaper car if you want to save and invest, especially since motorbike quite dangerous in your opinion (same as mine), but to some forumers especially in this topic, they will not agree. I personally feel that there is no point in keep saving money in bulk while you are not going to enjoy it. It is better to have a balance aka not over stretch your income or becoming too stingy to yourself. Just my opinion though.

This post has been edited by jasontoh: Dec 16 2010, 02:16 PM

i don't believe with normal investment, we can get consistent return... somemore, every month... seems to be quite hard... but it will only be once in a blue moon...

yes, thats why i said depend what you want ...

---

Added on December 16, 2010, 2:33 pmif you want consistent return, sell thing ...

This post has been edited by BoltonMan: Dec 16 2010, 02:33 PM

Haha don't agree with that bro. For safety maybe at a start get a cheap car then few years later start saving.

Yea i got the cheapest car already but yet i don't feel worth it wish i could buy a Ford Mustang GT at USD32k! our car is seriously over priced. Now with the rising of House prices as well seems like what i am earning monthly is still TOO little. I was once freshie as well i know how it feels being paid <rm2.5k and yet have to survive in KL which is having such a high living expenses.

Yes, if one could afford it, no problem.
or
can get a second hand Kancil, which cost no more than 10-12k.

Just throwing some option.
Yes, in Penang, Motorbike has little problem vs KL.

Life is full of risk everywhere.
Yes, risk of motorbike accident is high and can kill, so does car as well.
Driving a car won't save a person from fatal accident as well.

Life is never perfect. It is about give and take.
I won't disagree for safety reason, get a car as compared to motorbike.

It is about how individual balance their life with available disposal income.
As I had seen many had spent beyond their ability in the first place.
Just graduated, with less than 2K income, then must/think to buy a 50-60K new car

Kancil is almost same with motorbike,which made of "tin milo"..
IMHO,need to save at least Rm10k for emergency funds before u purchase a car.

dude, i start my 1st job in 2004 in KL with 1.4k only. and i still survive. that time i feel so little and i manage to find a second job which offer me 1.8k 4 months later. i don't agree KL is high living espenses ... it still depend individual life style and financial planning ... example, if low earning, do go drink coffee at starbucks which now cost 12.5++, iphone 4 last time launch, people queue overnight to get it ... i don't believe those all really high income earner.

for the house, sometimes developer did give attractive package, like 1 condo that cost 300k++ in puchong 2 years ago, you only need pay 8k, then wait till it finish only pay loan and construction no need pay anything. those kind of package really make people afford to own a condo.

If I want to refinance my house, how much % will the bank give base on market value? Is CIMB flexi refinancing a good refinance loan? any others?

Greetings,

Need opinions on the following:

1. I place FD (maturity: 1mth) whenever my account hits 5k
2. I'm currently serving my home loan (progressive payment kicks in) - full flexi loan to be exact.

Should I relocate my FDs to this loan account?
And instead of placing new FD - should I just transfer my savings to this loan account?

I read about the emergency fund in FD (3-6 months) .. but since this is a full flexi loan - I should be able to withdraw whenever I need?

Any comments will be much appreciated!

I'm 26.
Graduated last year and started my first job in October 2009, RM1500/month. Didn't have my own car and my mom sent me to work, my bf picked me after work.

From 2010 Jan-June, my salary RM2500/mth and I managed to save RM10k by May 2010.

In June 2010, I bought my first car (Proton Persona with DP 5K, RM600 installment per month).

My current salary is RM3100, after deduction is around RM2900.

ok, so my monthly fixed expenses:
1) Car loan - RM600
2) Petrol - RM150
3) PTPTN - RM150
4) home expenses - RM500 (bills, groceries etc)

I roughly can save RM1k per month now after deducting my own expenses (shopping, eating out...)

currently I'm having RM10K in my saving account only. and I'm planning to buy my 1st house by 2012 or end of 2011. The property that I target for maybe priced around RM300k.

Should I go for passive income? or any steady investment? I'm working in public sector and I do not have annual bonus =( I'm earning the nett amount of $$$ every month and I started to get fed up with the slow growing of my savings...

Hi, I wanna ask for some advices and opinions on these financial stuff..

Currently I'm almost 24, and last time I graduate from SEGI, under diploma in computer studies and managed to get a job last time, but during that time the economy wasn't running much well, around 2006-2007 that time.

With the salary only around 1.1k per month, it's kinda hard to get a living much as I'm the most eldest in the family and having peer pressure from my family to get another decent paying jobs, but hardly there's not much can do during that time, and I'm getting only side incomes from part time, like networking, computer stuff local here.

Now I don't work with the company anymore, since the family forced me to get another decent paying job, and applied through SPA @ www.spa.gov.my and now currently still under training, which next year will be my final year of training.

The post and the payment should be like this:
http://www.spa.gov.my/portal/page?_pageid=...&_schema=PORTAL

Since I'm growing, close to 25 now, almost most of my friends have their stable work income, ranging from 2k-4k/m, and thus sometime the feeling of inferior does affect on my life, since I'm still under training, and haven't really get the job, yet. They do provide allowance, around RM620/m tho mostly I used to pay house utilities, to ease the burden of the family, although I've a working father, but he still have to provide financial support for my sisters, one is @ matriks labuan, and another still on secondary school.

Anyway, for what I've now

EPF save, from my previous company is around RM 2.6k
Monthly allowance: RM621

Expenses/month:
House utility bills, around = RM320
Petrol = RM 80, not really outgoing person
Car = Currently my father still paying it, which I'll takeover once I graduated, and got my job.
Misc expenses = RM 150, or less, depending on the need, like groceries, eating out with family/friends, training expenses like for studies, papers, etc.

And that left me around RM 70 per month, like early-mid time of the month, and I can't always borrow some financial support from my family, as I'm the eldest and they expect me to get my own financial support.

Anyway, I've ASB account saving as well, but not as much, is it too late to invest in other investment? Any suggestions? I'm afraid if I didn't do any investment from now on till I finished graduate I might be too late, as my family puts really high expectations on me, like having own car [which I don't really put this much, as I can "buy out" the car from my father], having own house, family..etc, well I hope you guys understand the "peer pressure" situation

Any advices? Investments besides ASB? Future house loan recommended, like from Maybank? And possible other income methods should I put into? Thanks

This post has been edited by GameSky: Dec 20 2010, 12:11 PM

For you, it will be better to save up the the money, put into ASB and then when you have enough, withdraw and continue your studies and get a Degree either in CS or IT. The best investment is in yourself, for it will help you for the rest of your life. You shoudl really think about getting a side job to increase your income. Even if you graduated from this thing you are doing now the pay scale starts only at 1.1-1.3k per month.

Forget about car, property or other luxury as you cannot afford them, save every single sen you can and then use it to improve your life. Then, when the money comes pouring in, then only you worry on where to invest.

Don't throw your future away from all these 'peer' pressure. No one can help you but yourself.

---

Added on December 20, 2010, 12:55 pmIf you purchase a property worth RM 300k, it will wipe out your savings (you still need extra 20k for DP) and also your RM 1000 per month extra will be all used up for the property loan, you will have almost no savings then. In fact you will need to cut out all your other spending to get another RM 300to add to your loan amount. This means no more going out and spending, you will be enslaved to the bank.

Loan 270k @ BLR-1.5%, 40 years = RM 1,257 per month.

With your salary, why must you target expensive property? If you purchase more towards your means, lets say 150k-200k, your finances will be in a much better shape.

Nowadays all the youngsters wants to get up fast and spend beyond their means and most end up badly in debt, which takes years to clear. Don't fall into the trap yah? Use debt responsibly.

---

Added on December 20, 2010, 12:58 pmIf the property is being rented, all your money in FD/ASB/UT. If the property is for own stay, you may put into your home loan if you choose. You sound like a Robin Liew.

This post has been edited by gark: Dec 20 2010, 01:12 PM

Thanks, since I'm using maybank so it's should be easy to save up in ASB, too right? About the car property, probably later, as cars not really in my priority list..only the house comes first, tho

Thanks for the advice, and do opening 2 bank accounts is a good idea? Like every month deposit some to the 2nd accounts just for "precaution" savings?

The house should not matter too as well, you should not think about it until you have sort out your life. You need to use all of your savings to get a degree, it will be the stepping stone to higher paying wages/career. Wouldn't RM 2.5k-3k IT exec salary sounds better than 1.2k for a an assistant health inspector? It will also be a much better way to advance your career. Save every single sen you can, and invest in yourself.

Even after you have graduated, you don't want to work, with at least some capital, you can start your own business.

Your priority :
Priority 1 : Education (Degree)
Priority 2 : Look at priority 1
Priority 3 : Food, (then look at priority 1)

Open as many bank accounts as you want, it does not matter.

sorry, wrong thread

This post has been edited by Invader Zim: Dec 21 2010, 09:44 PM