Yes, stick to your old car if it serves you well...

Car depreciate once you drove it off the sales room !

FYI, the world's greatest investor W.B continues to drive an old car and live in the same suburban house he bought in 1958.

he owns one of the largest private jet company

I think fellow forumers were talking about Warren Buffet lar.
Me? Private jet company? 
Car also cannot afford A8 or TT 

This thread is about Personal FINANCIAL (keyword being FINANCIAL) management.

Please don't turn it into "porridge, read bean tong sui, etc".

This thread should be about clever FINANCIAL management tactics, not about starvation and under-nourishment tactics.

I will be making around 4k+ month when i start working soon.

Since I will be busy with work I wont have time to think or plan my spending wisely once I started.

I want to ask about 2 most important thing house and car:
Im thinking 1500 for house and 1000 for car. 1500 for living + parent allowance.

1) Buying a house is consiedered liability or investment? Should i quickly get a property once i have the money for downpayment?
The extra money i have should i save in bank for dividends or for property instalment?

2) I want to save money but i also dont want to look poor therefore thinking maybe spend 1000 for vios monthly? Is it wise? Should i settle with proton? Thinking if proton i might want to change car in 5 years the car value depreciate greatly compare to vios.

U missing THE POINT bro - "..but i also dont want to look poor therefore..."

How really wealthy we will be if everyone was blind, no eyes to impress. 

Razor21,

There's no such as saving or investment method that can let you earn $500,000 in such as short time, especially three year. Regardless you're going to save it, you need at least $13,888 a month for 36 months to get $500,000. LOL 

I'm using fz150 only.. not sbk.. if sbk, botak already.. fuel comsumtion is .ok, rm10 for 180km per day . Cruise at 120km/h.. its just engine already wear out soneed to do overhaul already.. estimate repair cost about 3k maximum.. this my first time send my bike for full overhaul

Err sorry sifu! 

PL interest rate is different from most mortgage reducing rate, so the effective interest rate p.a. is much higher than stated.

Effective interest rate for PL @ 4% is about ~7.4% p.a.  (our in-house accountant pinky can help us count )

PL @4%, 20K loan 3 years = 622.22 per month x 36 month = 22,399.92, total interest paid = 2,399.92

PTPN 20% rebate = 14K x0.2  = RM 2,800

You only save like RM 400 for 3 years.

In my years of experience and talking with those old uncles at coffee stores. Sure they do know how to hustle and make lots of dough, but they rarely drive Merc and BMWs. This is just a myth of those people who preach frugal living giving extreme examples to justify their position which is rather silly.

It is true however young people these days spend carelessly without giving a second thought.

Of course, the best is being able to drink as many chattime drinks as you want while owning a Merc but that is apparently out of the question in this forum so I will refrain from sharing that lifestyle.

Hi lowyat,

I'll be graduating soon and I have saved RM13,000 in my account. All my life I've saved all my duit raya, and I got a part time job while at uni. I help senior (read: middle-aged) students write their papers, assignments, thesis etc. I'm also quite stingy so I never buy anything that's not necessary. So what should I do with the money? So far I'm thinking of either saving the money (duh!) or using it to fully pay my PTPTN. I borrowed 12,000 from PTPTN but since it has no interest, maybe it would be better for me to use the money for other important things. Any Advice?

Thanks!

Want to ask somehing about retirement planning. When u plan for old age, what age should we plan until? 80? 85? 90?

Yeah it sounds kind of dreary and scary.

Sometimes when I do these retirement planning i also scared. If i plan until age 85 but can live until 86 then how? Drink poison?

I suggest you to save an emergency fund with a size of up to 6-month of your monthly spending, i.e. RM12,000 and put this amount into FD. About allocation of the FD, you could divide RM12,000 equally into 2 portions and put each into 1-month roll over and 3-month roll over.

Anyway, in my opinion, with such a small amount of FD (RM12k) and such a small difference FD rate between 1-month and 3-month, if I were you I would put all the emergency fund into 1-month roll over FD. The purpose of putting money into FD is for liquidity and not  for long term for 3-month/12-month. If you want to earn more return, you should aim on mutual funds, equities or properties but FD.

hi pink spider,

  I different from you, i share mine...heheh...different ppl different way.
  For me e-FD is emergency money so made no different 3,6 month 12 month mature.

with 15k: 3 split
rm5k 10th of the month
rm5k 20th of the month
rm5k 30th of the month.

renewal every month.

  my sen of emergency fund.

Yes I know this method, but that would be quite a hassle to work on this .

My point is when emergency incident happen and you may need to use the 12k immediately, you would need to take all $ out irregard they are put in 3, 6, 9 or 12-month roll over. If you put in 1-month roll over, the max penalty of losing is just 1-month FD interest.

Anyway, I don't want put more emphasis on interest earns from the FD, to me FD is an  tool for liquidity purpose, not a tool for growing capital.

isnt it better to dump the rm12k emergency funds into the housing loan which is flexible? can withdraw with notice to banks within a few days or some have atm card to withdraw anytime?