DebbieYSS - I must be blind , i missed the "Attachment" thinggy in the reply function

Anyway, attached is the ZIP file - Excels + PowerPoint. Please note that these are just some of my personal approaches and calcs - works great for me (in addition to tracking my net worth + Investments monthly). Your mileage may vary - do throw in some ideas that i may better them.

I've not yet had the time to put in the NetWorth & Investment tracking - way too many links and automation to remove & yet be useful heheh.
My Excels are reading direct from Web for Prudential & PM mutual funds + exported CSVs from my online stock market webclient. May not be worth while for most people - i track by PER TRANSACTION and even distribute dividends to EACH transaction that generated the dividends, to get as correct as possible CAGR / PA net profits / losses.

Ooo U may also be interested in this - i shared another ZIP (stats) on PM's funds 10yrs, 5yrs, 3yrs & 1yr ending 2011 this month, 20101231, 20091231 & 20081231 (just to prove how bad equity funds can be hit during a global crisis). http://forum.lowyat.net/index.php?showtopi...&#entry42394542

To those SALES AGENTS lurking around - please do NOT use my files on your customers. U may use it for yourself, learn then build better ones for your customers.

This post has been edited by wongmunkeong: May 19 2011, 08:03 AM


Attached File(s)
 Personal_Financial_Planning__PFP__Ideas_and_Calc.zip ( 448.52k ) Number of downloads: 790

he can join name with the immediate family members like kids to get the loan, it must be a related party, that person can join as a co-borrower or as a guarantor.

imho, even if the company is offering medical card, i still feel it's better to get one outside afterall it only cost a few hundred as stated.

reason being, u wouldnt know till when will u be working for that company

wat if a month or a year later you decided to change company, than it would be time for u to get urself a medical card ( which will not take into effect imeediately )

so during that period of time, you would not be covered..

or touchwood, in ur working time with that company, u got a major illness which wouldnt allow u to get a medical card once u leave the company

just my humble opinion

I do hope that some financial experts here can help me with my situation below.

Right now, I am just a student. Left few more months to graduate. Since I am fresh, I expected my monthly salary will be maximum RM2k. Originally, I am ok with that. But, now, cannot. Please see my following situation.

After I graduate and get a job, the first thing I will do is to repair my broken house that damaged thanks to those white ants. Last time, the floor in my uncle's room at upper floor nearly complete falling. RM2k has been spent just for rebuilding the floor of one small room. The upper floor of my house consist of 3 rooms (including my uncle's room) and a large living area. I believe not long after that, same thing will be happened to other rooms and living area at upper floor. A few months ago, I started to feel something wrong with my room's floor. In these few days, it is getting more and more worst. Not only my room. The whole upstairs floor started to be problematic.

So, repair 1 small room's floor = about RM2000, Repair the whole upstairs floor = how much?? Can guess yourself. I assume at least RM10000 has to be spent.

Not only the floor problem. Something is wrong with the upper floor toilet, because of this, there are sign of water coming up from the wall at ground floor. My house's main power switch and a lot of sockets were installed nearby the area where the water is coming out from. If, one day, the water hit the main power switch or just any socket nearby, you can guess what will be happened. We haven't repair the toilet yet because of financial problem. Engineer quoted RM3000 for repairing the toilet.

To protect my family members, my house need to be repaired as soon as possible. RM10000 + RM3000 = RM13000. If my salary is maximum RM2k, minus other necessary expenses, guess how long I need to wait until I am affordable for repairing my house?

I am one of the owners of my house after my grandmother transferred her ownership to me before she passed away. It seems like I have to pay for the repairing cost myself because it seems like my other family members prefer to spend their money on other things rather than contribute in repairing my house.

If my house has no such problem, RM2k salary may be enough.

So, expert, your advices please.

by the rate things are going your house will collapse before you even start working.

i would say talk to your family members cos it sure sound very serious for me, even if you get a 3k job u need months before you can save up to Rm10k+ not to mentioned you still have months to go before graduating.

CSHong - are U the only breadwinner? If so, personally, i think U guys are living in TOO BIG a house - sell it and get into something more manageable.
My apologies for being blunt - Murphy (as in Murphy's Law) will visit U often even if U manage to dodge the bullet this time as a house which is "too big" will eat U alive (from experience)

If U are not the only breadwinner AND the house is fully paid off, U may want to look into refinancing it, use the $ to repair (not renovate). U may want to get 2 to 3 quotations, and if possible, from trustworthy contractors.

That house exists before I born. I am now 23 years old. So, I guess my house was being built for more than 30 years. I am not the only owners of my house. My uncles are also the owners. I cannot decide to sell it myself.

If we buy a new house, that also need $$$.

And, if we sell this house, we also need to at least repair it first, else who want to buy such a danger house?

CSHong, I can feel your pains & being boxed in. If the other "owners" refuse to cough up their fair share to repair, then U want to be "the sucker" every time? If so, continue on then.

Yes, U need $ to RENT another house or buy.
Yes, U can SELL the current without repair - there are buyers that are willing to buy fixer uppers, especially those connected with contractors and know they can fix it up with $xxxxx and sell for $yyyyyy.

Sorry to be blunt - if i were in your shoes, and i do have some black sheep uncles and gangster ex-inlaws, i'd sell OR walk-away from the house. Pardon my french but WTF for? Milk me for $ to fix & maintain but all the flers dont chip in. Heck, this may be a blessing in disguise for U & yr loved ones to break away from these bunch. Well, then again, that's just me. Your mileage may vary. U will definitely need to have a long adult discussion with the rest of the "owners" and ppl living with U who are making $.

Pardon me if I'm too blunt - like i said, i feel your pains personally and i hate these kind of "relatives".

This post has been edited by wongmunkeong: May 17 2011, 08:28 PM

I can't blame them. Because most of them are really poor and one of them is currently having cancer treatment.

The most annoying part is, for the one with high salary - my elder brother whose name is not in the list of owner, he work as doctor, his basic salary is RM3xxx + he also work as part time seller for some medicine products = RM6xxx income per month, just because of he is my brother my mom and I and my uncles let him live with us for free and yet he rather spend his RM6xxx on something else rather than contribute in repairing my house.

This post has been edited by cshong: May 17 2011, 08:52 PM

Brother?! sheesh... well, the other option i can see is refinance lor. This doesn't solve the "leeching issue" though ;P AND U will bleed profusely for several years. Unless U work in SG or other countries, freshies max here is about $3K and that maybe tak cukup makan, financing the mortgage, even if U eat bread daily and run/walk to office

Any other bro with ideas? Other than doing nasty stuff to his older bro lar

Bros, need some insights on how to save/invest my money...almost every month dry....

Salary : 2100 after epf,socso
Rent : rm400
Petrol : rm200
Give parents : rm200
PTPTN : rm200
The rest i spend mostly on food, and entertainment or misc ?

Bro - your "necessities" are only $1,000 leh. What happened to the other $1,100? The answerto your "how to save/invest" lies in your own Q.
Makan - assuming U eat-in rather than eat out 100% of the time, max $300. Yes - cook & bring food to office my dear if need be. Or do bread. Not 100% of the time lar.

That leaves $800
You're entertainment & miscellaneous budget will then be $800/$2100 = 38% of your net salary. See the answer to your Q on "how to save/invest"?

10% of net salary for fun / feel good is generally good enough. That leaves 28% for savings & investing. That's a great start.
Just a 2 cents opinion.

sounds viable....but the cooking part susah bro...i wake up at 6 to leave for office, come back at 8-9.....
where to invest 1st ???

Bro vendetta, i wake-up at 4:40am to excercise, prep for daughter, grandma & dog's breakfast, prep my lunch, prep myself then go go go by 7:10amish
Ohh - i zzz early though, about 9:30pm Old liao, can't handle 24 to 48 hrs non-zzz

Ok ok back to "business".

May i suggest these ratios (massage it to your own requirements):
50% for necessities (like rental, groceries, clothes -not fun clothes ar )

10% for savings to build buffer fund. Once buffer reaches 6mths or more (you're choice here) of average monthly expenses, pour this amount into investing

10% for savings to invest.
Plan out an Asset Allocation big pix kinda thing first.
No idea? Then just do a simple
34% Equity excluding REITs / exProperties
33% Bonds
33% Properties/REITs
Once U've the big pix plan, then U should filter out what to buy & when to buy these Assets.
Please take a look at the ZIP file i shared earlier on example of Asset Allocation, methodologies, etc. - it's in the PowerPoint file.
http://forum.lowyat.net/topic/1577849/+400 Post #411 i think
Try to do it with a Big Pix (Strategical or Vision)
Then plans to achieve the Big Pix (Tactical)
Then the methods to execute each plan (Operational)
Every ENTRY reasons must have one or more EXIT rules

10% for feel good (charity, boys night out, that changgih Android GingerBread thinggy, fun clothes, fun food, gifting, etc.)

10% for education (pay off your PTPTN using this? or accumulate to further your formal education / street smarts via books/courses)

10% for saving to spend in future big ticket items like hm.. LED TV, new 2nd hand-car, downpayment on a home, etc.


Want something EVEN simpler?
Save 30% of your net salary
Sock away 15% into buffer growing as per above
Sock away 15% into investments
That's it - do whatever U wish with the other 70%

Details on actual investing? whoa.. personally i dont think it can be done here - it takes me like 2hrs to 3hrs to explain the basics of $ mgt, risk mgt, investment vehicles AND investing & trading methodologies. Then again, i may be too long winded

This post has been edited by wongmunkeong: May 18 2011, 01:59 PM

that roughly give me the idea on where to start dy
perhaps a tt session ? haha

wanna ask, what is the recommended income per month in order to get married and have a first child? living in Puchong with mom... better if specify the average amount for wedding and child care etc... I am just a fresh grad trying to plan for my future...

My rough financial statement is as below:
Monthly income:
1. Salary + allowance : RM 2937

Monthly expenses:
1. Medical card : RM 200
2. Gym + sports : RM 175
3. Food : RM 500 (yes, i eat alot)
4. Transport : RM 550
5. Mom : RM 800
6. Debts + loans : RM 200
7. Others : RM 250
total : RM 2675

I have around RM250 to save only... and past few months many unexpected expenses came slapping on my face... mostly car maintenance for my 10y.o car... others like acne problem and going for chiropractic... so can say my saving sometimes is close to none...

so what is the ideal/minimum income or combined income to have a family in KL? 8k? 10k?

@ mango27

That amount varies for everyone. It depends on your married lifestyle in terms of what you want to eat, what you want to do for fun, etc.

Mortgage - RM1k per month I guess for a 350k condo, 30 years loan under 6.6% interest

Shopping, entertainment -
Food -
Transport -
Bills (Electricity, water, internet, astro) -
Insurance/Medical Card -
Donation -
Pets / Kids -
Emergency Fund -
Grocery -
Long Term Investment -
Long Term Spending (Holiday/iPad/etc) -

This is just a rough estimate. When you budget, it's always better to budget HIGHER. Total everything up and you will know how much you need to survive in KL.

It's different for everyone. I think 10k would be a safe number though.

its funny that you categorize kids and pets as one expenses...

anyway... ya i agree it varies... just hoping that any newly weds or young couples living in KL areas could share their numbers...
im contented with sufficient... so i would say spends moderately... like once a month for fancy restaurant and fun... travelling not in near future... wait till my career is stable enough i would say...

btw mortgage 1k per months means paying very high down payment right? i dunno about house loan calculation... but according to online calculator, down payment 10% will make it 2k per month for installment... anyone can show me the formula? its different than car loan right? as i seen from some website pics, the installment for bumi eventho 7% can make a huge difference...

The highlighted part is rubbish and wrong.

As for loan calculation, assuming the property is a 350k apartment and you're paying the minimum 10% downpayment (RM 35k), the loan amount would be RM 315k. RM 315k loan spread over 30 years with a loan rate of say BLR - 2.2% = 4.4% will net you a monthly repayment of RM 1,578.

And you definitely don't need 10k combined income to get married and have kids. If really 10k is needed, then the rest of the family in KL really have 10k combined income? Think about it.

Hehe cos I just discussed the numbers with my significant other recently i have a shih tzu now, no kids, that's why! hahahaha for us, 8k is enough to survive but 10k is optimum as buffer.

honestly though, i personally feel worried about starting a family with a combined income of 10k. there'll be other expenses overtime too like buying a new car for 50k each person, giving birth and setting up a nursery and equipment is another 10k not yet plus schooling fees and clothes that will increase every year

then again as jeff pointed out, couples are still surviving with less than 10k combined. two things positive things is that (i) u save a lot of u marry somebody! save on food, save on dating and save on petrol lol (ii) it's always better to suffer and save when you are young rather than to find out later that you're old and broke

if u have someone important to u right now, then that's great aim for as much salary as you can get and start saving for your wedding (50k), furniture (40k) for your house and down payment for your house (which is 10% as pointed out). the good news is that you don't have to save for all of this on your own.

This post has been edited by map: May 20 2011, 11:57 AM