Think along the lines of NEED.

Like my case, I'm the only child, living with my dad (mum passed away). I don't NEED a house, thus I won't buy. Yes, houses will be getting more and more expensive, but why buy something that I don't NEED?

hi guys...suggestion pls...

monthly income  rm5k
FD rm50k
car loan monthly installment rm700
housing loan monthly installment rm2300
expenses for parents monthly rm1000
non bumiputera

stress....hw to manage my financial?

Your housing and car loan repayment is more than 50% of your monthly income, can you let me know how you got the bank to approve it?

actually still underconstruction. the house will b ready end of nez year. if i sell, then vy difficult to buy a house nowadays

PLEASE DON'T SELL.

Don't say bout need or no need or what need need need

house is assets, house is property. house is your future, and somemore you are non bumiputera. Houses are getting expensive nowadays. Can you assure you can buy back on the other day? Smaller or bigger ? NO?

More house is better, as you can pass down to your children, you don't tell me you don't want have children? this can make your children life better.

Hold the house, cut down other expenses.....

I'd say it depends...

If cannot handle the cost, die die hold the house?
Children may not even want to live there
AND - if one can't even manage oneself's current financial situation, how lar to pass on to children?

It depends lor - should not die die "hold" if one can't handle it.. until repossessed / bank lelong meh?

Just a thought 

Hi all! Need some financial planning help.

I'm 27 and will be getting married later in the year. Thinking about buying a house but there's a lot of uncertainty in the housing market right now so I'm a bit nervous. Anyway this is what my finances look like now.

Assets:
Monthly pay: RM 3100 after taxes and EPF
FD (Feb 2014, 3.25%) = RM 15, 000
Liquid savings = RM 7, 000 (RM 1000 - Rm 1200 a month goes here from my pay)
Bought some gold during the gold crash valued RM 3, 000 now. Won't be selling till end of the year or longer i guess.

Liability:
Gym membership = RM 300 per month till Feb 2014
Travel = RM 100 a month
Insurance = RM 90 a month
Expenses = Roughly RM 1000 a month
Phone bill = Roughly RM 90
Misc debts = RM 500

I rounded up a few things for the sake of easier calculation but it's pretty close. As it stands now I don't think I can put in money for a house until I get a significant raise but I would like a place for my future family. Basically a house would be ideal but not vital at this point. Also I don't think I'm investing well.

I should also add while I'm not risk adverse I believe my current income and lifestyle would only support a very minimal amount of risk in terms of investment.

Any advise would be welcomed.

I am 32 years old, still noob and need your help. Here's my summary of my earning and deduction:

Salary: 2800 (after deduct EPF + Sosco)

Internet: 88
Utilities - RM100 (Electricity + water)
Apartment maintainance fees - RM150 ( I usually paid in advance quarterly coz I hate go every month pay)
Petrol: 150
Phone credit: Digi Prepaid balance RM650+, super long talk time.. I think cannot finish credit, I seldom reload..
Food: 400
Car loan: No (settle) - BLM
House loan : No (settle) - Living in Condo
Education loan: No (settle)- PTPTN
Credit Card: No
Personal loan: No

Basically I just spend RM800+ a month, sometimes work OT got a bit more money ok to pay the Indah water, miscellaneous bill, dunno wat bill wat bill, bill come I just go settle them..

Net savings per month: RM 2000 / I just make it easy count, I dump in extra RM1K into savings making it RM25K per year.

Rough calculation today I have around RM150K cash in FD, Sukuk, etc.. use the intrest go holiday jln jln around RM3K per year

I take old ppl advise practise - "AFISH". I do not like risk, no investment. Money must be protected by PIDM up to RM200K.

A - ASN, Wawasan 2020, Sukuk, etc
F - FD
I - Insurance
S - Shares (Dare not buy)
H - House (Done)
Can I retire at 50 years old?

I read about this
http://budgeting.about.com/od/Why_Budget/a...Millionaire.htm
If You Save: $2000 per month

You'll Be a Millionaire In: 19 years and 7 months.

Boss check and see whether I can retire earlier in 10yrs + time, coz need to take care of aging parents by then.

AFISH - This is my practise

1st priority go for ASN, Wawasan 2020, Sukuk, secure bond etc if can get,

2nd If do not have 1st priority, go for FD every month

3rd Plan to take a personal insurance Public Bank offer with ING - RM57 monthly accept until age 70 (RM57 fix no increment), RM200K insured, hospitalization- RM200 a day max 90 days, ICU - RM400 a day max 30 days, ...Sifu this one ok?

4th -Go for shares during bearish time, sell during bullish time...2013 potential very bad year, potential shares will be affected.. Thinking of getting Public Bank shares as they offered high dividen return..Buy when stock price go low...ok?

5th - House - Plan to take PR1MA if can get, range between RM100K to 400K. I applied for landed double storey hse in Penang island. Let say I go for the Max RM400K. I intend to pay RM200K downpayment.. Borrow RM200K from bank..Repayment should be roughly around RM1K per month right? I rent out my current Condo at RM1300-1400, and move in new landed house. Rental should be able to cover bank installment. The extra RM300-400, I use them pay maintainance fees, etc - dunno got lots of bill one Indah water, Cantik Api, etc. PRIMA condition is must move in and stay 10 years. Ok I move in and stay 10 years. Then I sell the hse.

Current market price I check landed property double storey is RM700-800K in Penang. If PRIMA let me buy at RM400K untung already. I stay 10 yrs, due to inflation - construction bricks, cement, steel allshould increase. After 10 years, let say the hse is value at RM1.4 million, I sell it lo...Untung RM1 million, the RM400K I pay back bank. I do not think need to pay RM400K that much since I borrow RM200K only. I calculate I will only be paying bank RM400K if I pay installment every month for the next 35 years or less right.

Current condo I am staying market value - RM450K, buy cheap during economic crisis 2008. Sell this one too in 10 yrs time, maybe price at that time around RM700K, or else continue renting..

Then I move back hometown Ipoh lower standard of living, better food, take care of parents.

I calculate my total net worth - RM1 million from landed double storey + RM700K from Condo +RM25K savings per year x 10yrs = RM250K + RM50K from the balance after paying back the RM400k in 10 yrs time.

I should have roughly 2 million...Enough to retire?
Follow AFISH formula learnt from old man millionaire that put every penny into savings, either u suffer now early or suffer later when old..

Easy formula ...Let say u grad age 24yrs old. Save RM2k a month, make it easy calculation RM25K a year like me.  If cannot earn that much do part time job, OT , etc to make sure u save RM2K  Ok..

Your girl friend do the same ..RM2K per month RM25K per year..

I take sukuk - 100% safe as this is not investment, principle is gurantee

First year - RM50K go buy Sukuk gurantee 5% interest - RM2500
2nd year  - RM50K go buy Sukuk, Now you have total RM100K, 5% interest - RM5000
3rd year - RM50K go buy Sukuk, Now you have total RM150K, 5% interest - RM7500
4th year - RM50K go buy Sukuk, Now you have total RM200K, 5% interest - RM10,000
5th year - RM50K go buy Sukuk, Now you have total RM250K, 5% interest - RM12,500
6th year - RM50K go buy Sukuk, Now you have total RM300K, 5% interest - RM15,000

Total intrest collected is RM52, 500

RM25k x 2 persons x 6 years = RM300K...Go buy property at age of 30 with the RM300K, take the interest go get married lo..RM50K more than enough ..If not enough save another year + N or else take the interest buy a car ... Cash is king ! Buy hse cash, buy car also cash !

Ask yourself and your gf this question..Do you want to be bank slave for the next 28 years? They vampire suck your bloody hard earn money...Let say u borrow RM200K, pay installment RM1K per month, 70% -RM700 is intrest and 30% - RM300 is paying principal..

I really think suffer 6 yrs and get back the 28 years of suffering is worth a lot...

Think along the lines of NEED.

Like my case, I'm the only child, living with my dad (mum passed away). I don't NEED a house, thus I won't buy. Yes, houses will be getting more and more expensive, but why buy something that I don't NEED?

Like your thinking - everyone BBB because everyone else is buying

We might end up with alot of properties which are empty soon because everyone is buying.

Hi guy,

I am wondering whether my gf and i are ready to start a family and buy a house as our current situation is as below....

Income of 2 ppl: ~ 5 k
Rental plus utilities: 500 per month
Petrol + touch n go : 130
Phone: Using prepaid top up 10 per mth
Parent: 0 per month as still studying so parent said tak payah bagi
Makan: 700 per mth
Medical: 300 per mth (gf facial)

Ptptn hutang: 28k (repay around 2-2.5k) and gf free ptptn
Debt for car n house: non
Saving: ~ 150k

Hopefully after graduation (estimated to be mid of nx year) can double the current salary.

Do u think we are ready to buy a house around 300-400k?

Is the investment return that initiate ppl BBB. Perhaps is not "need", it is "wants".