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.

Thanks, I think so too because the dividend for ASB is 7%-8% (depends) I hope that along the years I'll be able to max my ASB and at the same time, settle my PTPTN

work with IT training provider. free development on certification track. save lots of RM. theory become practical. and less time spend to achieve it

Hi all, i also want some advice from sifu2 here..i'm 25 this year...want a tip for saving & living

INCOME:

Salary : RM 2500
Others : RM 600


LIABILITIES:

PTPTN :RM 180 p/m (15years, loan RM28k)
Car : RM 770 p/m (9 years, loan RM65k)
Food & Petrol & etc : RM400 - RM500
Phone : RM 30 p/m
TOTAL : 1480

SAVINGS:

ASB : I'm saving RM1000 p/m

left : 2500+600-1480-1000 ~ RM620

So I'm left with RM 600 A month...how to improve my financial management...any advise?

instead of deposit 1k per month to ASB
why dont you take ASB loan?
i take rm100k asb loan, after i calculate, the dividend that i get can cover all the monthly installment that i pay for last year

hi all...for those who work far away from parent..how many time do guys 'balik kampung'?...i'm working in KL and travel back to Penang every month...so i have to spend at least RM200 for toll and fuel..

I'm in the same shoe as you but I only go back when there's a public holiday. Sometime, I car pool while other time, I'll skip the highway and use trunk roads for certain stretches.

take a bus to balik kampung
at kampung,use ur parent car if needed