i think your friend is just getting too comfortable in his comfort zone. extra rm2k definitely can beat the high living expenses in city. else how do u think those people who earns less than 2k survive in a city...
and the high living expenses, one can control it:
instead of starbucks coffee, why not coffee in office pantry
instead of restaurant western set lunch, why not tepi jalan nasi campur
instead of candle light dinner, why not cook at home
you know what i mean
5k salary can easily save 50%, been there, done that

This post has been edited by property101: Feb 20 2011, 03:35 PM

I think you must cut expenses and also do some part time job .you can see detail from my blog

Nice thread here. I recently just started working.

My nett salary = 2528
Car loan = Already own old waja(no need to pay)
Housing = Live with my parents
Food = 400
Toll = 200
Fuel = 400
Topup = 30
Entertainment = 200
Others = 139(Gym membership)

I need to start save money. Feels like starting with ASB at least. So what is the percentage of my salary that i need to save?

Updated here.

This post has been edited by kingsora: Feb 24 2011, 03:14 PM

you need to list the rest of the details..

fuel for the waja?
entertainment?
handphone bill?
etc.

Listing those out will help us identify what you are capable of saving right now and what you could potentially save.

Where to save is simple enough, create a automatic renewal 1 month FD with 6 months worth of expenses for a rainy day. Everything else goes into ASB until you hit the limit. A lot of people would have different suggestions but I feel this is a generic simple and safe method to follow until you know enough to decide for yourself

How is my financial freedom breakdown?

Salary = RM 3300 (Net Salary is around 2800++)

Petrol = RM 200 to RM 300 (Depends on how frequent i drive my car)
Entertainment = RM 200
Food = RM 600 to RM 700 (eat with my gf and her sister. yes, i usually paid for them both)
Toll = RM 40 to 50
Offering to church = RM 350
Utility bills = RM 400
Phone bill = RM 80 to RM 100
Car = Using my father car
House = Live in my sister house

i think i can left RM 900 for my savings without extra spending. Is it ok for my monthly financial spending?

I update already at the original post bro.

Hi Guys,

I am getting my bonus soon and is currently planning to use the money for investment. (Money help find more money).

I assume my bonus to be around 8k. I would sincerely appreciate if you guys help and suggest the best investments (based on your personal experience) there is currently in the market.

I am a old school type of investor very conservative and skeptical thus I also appreciate if you guys can share the pro's & cons for investment that you suggest.

Thanks in advance for helping out & sharing your opinions and ideas.

Put half into mutual fund, then another half to shares (if you got keep an eye on the stock market). Otherwise, save most of them mutual fund.

Hello all,

Maybe this is my first step into managing my money because before this I didn't save any money from my monthly salary.

I just turn 23yo this year and my monthly salary around RM2.2k
Maybe I can list down some details below for you guys to refer:

Salary : RM2.2k
Commitment : RM500-600 (for now, may increase later on)
Loan : PTPTN loan RM15k
Food : RM400
Petrol/Phone : RM150 (no car)
Entertainment: RM100
Others : RM200
Self Development : RM350

Commitment towards family, I help settle all monthly bills and maybe house rent later.

But I feel so burden because I don't have any saving, no car, no house. I also don't have ASB saving

Please enlighten me. TQ

wat is self development?

u mean go clubing?

i mean getting my professional certificate in IT industry..

Find some part-time job..
Ur case is similiar with most of the fresh grads,so don't be so sad.

i'm working on rotation shift and part time work doesn't suit my schedule...
but i'm trying to run a freelance services (if i'm able to find free time between my shift)

for my commitment, i'm staying with my family and later on, i'll need to pay for house rent too (that's why i'm stating that there will be chances for my commitment to increase +RM700)

should i buy house instead renting for another 10 years?
with my salary, is it possible?

is education a choice? invest in it, get a master, gaji naik =D

i don't think master in IT do anything good...
i want to further until degree and top-up with professional cert..
but that is my 5 years plan

Hi all, seems this topic is stagnant for a while so I bumped it and in need of advice

INCOME:

Salary : RM 2385
Others : RM 900


LIABILITIES:

Study Loan : PTPTN loan RM50k (need advice the most on how to settle fast )
Car Loan: RM 500 p/m (Viva 7 years, petrol is managed by my family)
Food : RM 500
Rent : RM 220
Phone (Maxis prepaid): RM 30 p/m
Entertainment (UNIFI): RM 150 (VIP5)
Games (PS3) : RM 300

SAVINGS:

ASB : RM 13000 as of now (I'm saving RM1000 p/m)
Cash in hand : zilch

So I'm left with RM 585 every month, give and take a hundred or two. Please advice on how to minimize liabilities (especially that PTPTN )

Thank you very much

Cut the games and put the RM300 towards settling your ptptn loan. for ASB maybe after you've saved an amount that you feel comfortable, start throwing the monthly rm1000 into your ptptn loan. just my suggestion.

Ok thanks, a bit extreme but maybe workable

Don't worry on the PTPTN loan as the interest rate is low, just pay the minimum amount like RM 50 per month. Continue to invest in ASB until you hit max 200K, then only put your money in the PTPTN loan and/or other investments. Consider putting more into ASB (the maximum you can afford) until you have maxed it, the sooner the better then let it breed until you retire.

This post has been edited by gark: Mar 15 2011, 05:46 PM

Basically i also dump alot of money into PTPTN. Hope to clear it in 2-3 yrs time. As i still learning to invest, its best to clear all the outstanding loan first. Of cos if any investment gives higher interest than ur loan then concentrate on ur investment first.