Wait till U settle down with yr hot woman and start production  . Them kids cost a bomb (long run).. but the heart seems to win every time i start my Excel. Irrational feelings vs. Logic - irrational feelings win hands down 

WOW..... no entertainment/shopping/any doodads?

I want go ipoh sell insurance liao....

y u use streamyx rm100?

use p1 rm49

u can save 50% already

Monthly RM3000.00
Loan RM1000 (car & house) end 2017/2018
Family RM1000
Credit Card RM500
For me only RM500 (saving, gadget and etc).
Saving (RM0)

Now, thinking want to buy property.
Invest in property more good I think.
What do you think?.

And many will blare the real estate problem wont happen to Malaysia one... I wonder how long can the gravy train last n where exactly the funding come from in recent budget. I see plenty of forummer indicate they have more than 1 housing loan that exceed their income/repayment ratio. Yes I know u can leverage...but overgearing is risky...yes no risk no gain. Either we have LOTS of undeclared income entrepreneurs or plenty of people like to boast their multiple loan liability profile and if indeed they afford many property with limited fixed income they start to sound a lot like politician that only say a quarter truth to make themselves look good.
Looking at the current real estate situation most Malaysian is like buying with little concern on long term yield but just speculate on capital gain only n genuine house buyer for own stay ended up funding the 1st tier speculator.
Obviously above is generalization n there are exception but at the current rate, it's very unnerving as a rakyat. All it take is a small calamity n the chain reaction will start.

Hi there, just hope to get some advise on my financial managment.

23years old, male, KL.
Just graduate diploma in business admin(segi),
Currently working as marketing executive in financial training company,
Just started 2 months ++, previously studying and working temporary and part time job

Petrol -270/mth
Food - 150(22wrking days)
HLA saving plan- 435.50(HLA cash builder premium-92.93), (rider critical illness waiver premium-1.32), (builder two-341.25)
Handphone - 200(internet+call+sms+iphone)
Family - 300
Epf - (350-390)
Pcb - (30-50)
Others variable -450

Salary - (RM 2700-3000)depends on working allwnces
Saving - (550-850)

I actually owns an internet website/fb selling things, but am hardly doing it now. Trying to think some sort of a way bcos i wanted to buy house, car, saving for business and marriage. Am still a newbie in property, investment or shares. I am lucky that i am staying with family that i do not need to pay for any house rental, car loan or house loan. But i wish to own a car, house, business and marries before 29-30years old.

Dear sifuss, please advise:) thank you!

According to what you have provided, I assume your monthly spending is about RM1.8k (no include EPF), so I recommand you to save an amount that at least cover your 6-month expenses, i.e. RM11k.

You also mentioned your range of savings is 550 to 850, so I take the average of this range and assume you will save RM700 per month. With a saving of RM700 per month, you need to save 16 to 17 months in order to accumulate enough emergency fund of RM11k.

After achieving your emergency funds target, you can plan to save for the downpayment of a new car. Assuming you will buy a new brand Myvi which will cost you around RM50k and the first downpayment will be at least 10% of the total cost, i.e. RM5K. Assume that you still save the same amount of RM700 per month, then you will need to save another 7 months in order to pay for the car's downpayment (if your salary increase so you could save more then it will be better). So assume that you start to save next year when you are 24, you will be able to own a car when you are 26.

I also recommand you take a 5-year car loan and you will need to pay a monthly installment of RM800 or above (including other cost of owning a car). You should also try work hard to be promoted, get more salary increment and bonuses, otherwise you could not save more in this 5 years after paying off your car loan.

After paying off your car loan, you will be around 31, and it will be the time for you to think about having your own house and getting marry. I believe the price of the most affordable house in KL will be at least RM400k to RM600K or above. So at that time you either should have enough savings of RM100k in order to pay for the downpayment and renovation of the house and also have a salary that allow you to pay for a 30-year mortgage installment which will cost you about RM1k or above each month, or else you have to save another few more years. Of course, if your future wife  could share the cost of the house, that will make your life easier.

hi there, i would like to give you a suggestion that take a saving plan from insurance company especially for you at aged 25. With the return is slightly higher than you put in bank and easy to withdraw out. You can contact me for more info if you are keen.

Need advice !

Income in RM:
Monthly Salary = 6,700 after all deductions
Rental Income = 500
Part time = 550

Expenses in RM:
Food = 600
Transport = 300
Entertainment = 100
Phone Bills = 100
Electric & Water = 100
Insurance = 200
Streamyx = 110
Give Parents = 500
MORTGAGE = Paid Off
CAR = Paid Off
Credit Card = Paid Off

Asset
Saving = 10,000
House = 200,000
Car = 5,000
Stock = 10,000
KWSP = 150,000

Liability
Zero

Extremely Frugal Guy here, when can I retire ?

Whoa... 35 only? 
U the Sifu leh, can save 70%+/- of yr net income (excluding asset returns). I can only hit about 46%+/-, thus i need another 8 yrs +/- to be "free" and have great options 

BTW, it's not just about the millions we have/hold in assets, it's also our ability to keep/not spend crazily, that affects our personal economy.
Thus, a person with $4M, with yearly expenses of $500K, will destroy that accumulation easily within 10 years, EXCLUDING inflation

Bro, being frugal is good, just ensure yr physical and mental health + relationships are as strong as your financials too.
Just sharing an experience - a relationship that soured nuked my net worth when i was younger and dumber. I was "supposed to be" financially free in 2012 / 2013 before the nuke 

True, but can get 12.5% inflation adjusted returns on average, every year boh? 
That's like 12.5%+3%inflation (minimum) = 15.5% average return pa?  Whoa...
Pls correct if i'm mistaken ar with the above calc., me maths aint me strong point = just simple logic & Excel

Get 8%pa inflation adjusted returns also dang good liao (assuming inflation is 3% to 6%pa) for an average Joe like me.

speaking of the risk, i also aware of that. But in this program, the risk are low cause of the plan made by the company CEO. It secure even the world economic are bad. Maybe this is kind of new investment product that you never come across before. Well if you really want to know, you can meet with me.  I want you just hear or know what the plan made so far. And give you opinion after hearing one of our seminar.

No advisor here per se but a calculative bugger . Hey, get ye hands off me money!
BTW, being er.. suckered by insurances with participating / whole life is one of my main reasons for learning PFP (Personal Financial Planning) and bouncing ideas/experiences in forums.

-------------
Just to share my experience with "whole life" vs term life, both 3Ds (death, disease, disability) from the same insurance company, Prudential. Please note - not against Prudential or any other insurance companies, they are there for a reason AND BUSINESS.

1. 1999 - bought a $150K coverage 3D "whole life" participating insurance from Prudential.
Monthly premium $300

2. 2001 - as my ex did not want to work anymore (ie. no salary/income), i had to cover more in case i kick the bucket ahead of time.
The extra to cover was $750K. I checked with my PRU agent my options and the most cost effective was term life, $310

3. Imagine if i did the "whole life" to cover $750K, what would my additional premium be monthly?
Simple calculation is $750K/$150K *$300 = approximately $1,500 extra per month
VS
$310 for term up to 55.
------------

Another experience - AIA. Bought when i was 19 going to 20 (1992)
1. "Forced savings" - what to do, younger & stupider + sold by a relative.
2. Was given the hoo hah about 6%pa returns, critical year 10th or 11th year and i won't need to pay liao.
3. 12 years down the road, when i called AIA to inquire about "needing or not needing" to continue monthly payment, i was told i need to continue paying.
Ok... how long more? AIA said 5 years.
Ok... 5 years more then for sure i don't need to pay anymore right? The sum is big enough to generate $xxx based on y%pa to cover?
No - not for sure.
Hello...?! This was during a bull run in the 1990s (pre 1997/1998) for those who are too young to know. FD was hitting 12%pa!
and my "investment" didn't even hit 6%pa? Wonder fool - the fool being me. Forced savings / investing my arse
-------------

a. Thus, which would a logical human being choose to use for covering / transferring risk - term or whole life/participating?
Mind U, the main idea is risk management for me, NOT transferring $ / inheritance by-passing taxes and stuff like the super-rich.

b. When i reach retirement age, why the heck would i want life insurance as i DON'T have a working income?
My plan is to be self insured by then as generally, all the premiums paid if i continued on will be as good as self-insuring + insurance companies expenses & profits

c. SKY 1809, for a person stating that most of the posting shared here (mind U, it's our POVs and opinions, not 100% gospel truths) are "Most likely it is to cover up their inadequate knowledge in this area", please share your calculations & reasoning lar.
+Stating items like "dunno when will die" and other stuff is not a good enough reason for me to pay 5X more for coverage than required. I'd rather take that $ and invest it myself.
+BTW, do U actually know how insurance works and that insurance companies are in it for a profit?
+Actuarial science and probabilities - at the end of the day, all the insurance premiums we pay are, at the end of the, nearly / actually self insuring AND the insurance companies' profits and operation costs.
+Are U the super rich portion of the rakyat that actually uses insurance as a savings and transfer of wealth vehicle?
+I think U are smarter than the average Joe since U seem to be active in the Stocks topic - have U actually sat down and calculated the costs of term insurance (say a block of years up to 55 or 60) VS cost of participating/whole life insurance? Take the cost difference and compound them at 6%pa only (bond funds - simple) and...?
+Given limited resources for average Joes like me (of course others may be playing at another level lar, like U), i need to allocate my resources AND be able to have enough coverage to transfer risks that i cannot absorb for now... UNTIL i build up my pile of assets. So, do U mean that term insurance is not good for that? Why? Coz it is "gone" and "wasted" unlike "cash balance" participating/whole life insurances?
+Do U know the ridiculous amount of % they give us for the first 5 years for our "investment"/"participating" portion of our premium?

Again, i've no bone to pick with U but the way U state things like "dunno how long will live / die" and thus "insure like heck"?
Using Steve Jobs as an example? U gotta kidding me dude - that fler can MORE THAN SELF INSURE. 
Bottom line, in my opinion, experience and actual execution - term insurance, IN GENERAL, is the best bang for the buck to cover average Joes like me.

Share your real numbers and experience - pls dont use dunno when kaput and stuff. Those sounds like FUD (Fear, Uncertainty, Denial) - where super sales people use to CONvince when logic can't prevail. Mind U - i'm not assuming you're an insurance agent yar. I just want to know why / where U coming from, thus expand/learn from your experiences/views - not just the example U already gave

Style mau, menang (financial freedom) tak mau mar.
To some, muka is a high priority - it's their life, their choices.

Perhaps it's to "get a girl"? Still in that stage of mentality and willing.
Hhehe speaking from RECENT enough personal experience where a woman i was after asked me to buy/upgrade to a "better" (read HIGHER BRANDED) car since i can afford to and because she wants "her parents to think higher of me". <claps hands and summons> NEXT! 

Well, considering your returns on investments thus far (last we ding-donged ), U'll have more than necessary to provide, care for and grow a good family soon enough (ie at a young age) Then it is U that will be choosy IF U wish

Build it, and they will come <'ala field of dreams>

Congrats KinWing  - give value, get value
Cocky a bit lar with your buddies - "No lar, not going after hot chicks. I just want one to be able to outrun them - so many chasing me" 

BTW, on cars - i'm sure U'll be analyzing them for cost vs functionality vs maybe.. hotness hehe
Can share share here - part of personal financial mgt mar selecting a car right?
IMHO, other than homes, cars are the biggest $ outflow - lump sum + maintenance

Me - i'm too close to the motor industry to comment too much , ppl may accuse me of having too much vested interest even when i personally think buying cars every 5 years is nuts 

Hi KinWing.
Just as a simple comparison, try this http://www.motortrader.com.my/Cars/Buy/BasicSearch.aspx for prices of models/years
I'll go poke my colleague in Sales for KIA Picanto's asking price - 2 to 3 years old = 2009-2010 registration, right? I'll PM U - else mods may not like us turning this thread / topic to a car price only topic heheh.

BTW, U may want to note that the cost of repairs and maintenance for a 2nd hand "small" car (picanto, myvi, kancil, viva, i10, etc) VS a 2nd hand "compact sedan" (wira, waja, sephia), the cost similar, thus, U may want to think about a "compact sedan" IF U do groceries shopping once in 2 to 3 weeks (bulk purchase) + want a nice back seat
er... my bad ar - i'm assuming U will drive it until it disintegrates, not "upgrading" every 5 years.

Been a long follower of this awesome thread, started working 8 months ago.

Not married, living with my parents, while the house is taken care of by my dad, i'm just paying for the bills and any loose payments. Parents said do not require me to give money to them yet as they are still capable of taking care of themself.

No properties, no stocks , only RM8000 in the bank.

Salary :RM6200 nett

Fixed Expenses:
Car: RM650 (2nd hand Persona for 5 years, 4 half years to go)
Study Loan: RM1710 (250k study loan)
Electric Bill : ~RM220
Astro: RM164
Water: RM20 (living in an apartment, water is regulated by the apt )
Streamyx : RM135
Insurance : RM550 (Life Insurance 500k) Medical Card (RM120)
Ipad Installment : RM161 (5 Months to go)
Petrol : RM350 ( to get to my workplace, 100km to and fro)
Toll: RM100

Total ~RM4250


Left RM1950 for food/entertainment/date.

Will be my first month next month paying for the life insurance RM550. Have managed to save at least RM1000 per month before that , now the goal is to try to save RM1000 minimum even after paying the RM550.

Been binging a lot on food , as me and my gf are both food enthusiasts we tend to spend a lot on food, when we go out. Trying to reduce it to a minimum!

Gameplan:
1) Reduce expenses, esp misc expenses like eating out, cutting down the snowflake/chatime/starbucks.
2) Save RM20000 and put it in FD. Once i have that will start thinking of investing.

Should i let my 8k just sit here and accumulate for emergency funds or do you guys have better advice for that small chuck of money.

Trying hard to save at least 30% per month. My study loan is a big killer, but what to do haih!

You want to buy a car but you're not using it frequently quite defeat the purpose of buying one at the same time. If you are not relying on the car, do you really need it? If any one of your friends are staying nearby, perhaps you can car pool on them. Not a need to be shy, friends understand and what you can do to repay them is just a small meal treat!

need advise as this will be my first salary... so need to have a good start..

just start working in government. salary per month is rm 3700.

payment for my motorcycle = rm 230/month (still got 1 year left)
payment for fuel = rm350/month
food + etc = rm 300

this is my current way of using money...

i plan to upgrade my bike due to my workplace is far ( 80km one way).. maybe cost about 24k
secondly, i need plan to have family in 1 year and half or 2 year

any recommandation?? i plan to have some investment also but still not sure which is better

Hello fellow LYN,

I am currently 23 and I have 9k liquidity. 4k in savings and 5k in Public Mutual. Every month I deduct 300 and purchase the same fund for dollar cost averaging (DCA) method and plan to continue for 5 years. I foresee salary increment of at least 300. Before un-planning anything for this 300 and let it go to my expenses column, I wish to use it for another investment portfolio. I am wondering should I opt for another UT fund, or invest in some other form (I am looking at PRS or REIT).

I also target to achieve 30k by Q42013. However, I do not know what are the methods that I should try.

Seeking advise from fellow members that hope for better financial management.

Thank you.