Hmmm ... I have some advice to ask from all the sifus here.

When I took my car loan, I took a 9 year loan and it was at 4.1% interest rate. I know. It sucks, but I had my reasons.

Now I'm thinking of settling the loan within 5-6 years because I heard that banks give a lot of discounts these days. Do you guys think it would be worth it?

Or would I be better off putting that money into those Cash Builder thingies or properties?

Another reason I'm considering this is because I also want to make sure I reach the point where car resale value > remaining car loan as soon as possible.

Any advice would be much appreciated.

hi all,

wanna share my financial planning n possible ways to improve it

age 28, married with 1 kid..started saving on-off 1 years ago..wife also work but i will consider my income only
to try support the basic family finance..current stats:

salary 2400 nett

monthly expenses
car loan = 853 - 8 years to go
house loan/rental = 0 - stay with inlaw, planning to rent or buy an apartment in 1 year
utilities hp bills = 300 - paying some
petrol car bike maintenance = 300 - ride a bike to work, car for other purpose
food = 400 - sometimes eat outside / at work
baby needs = 200 - diapers milk etc
savings around = 3-400 - for emergency

investment
forex = 15k but in process of bring out since no more secure in term of return, need few months to bring out

debts
education loan = 500/monthly paid with forex dividend but stopped a few months edi
total = 30k in 4-5 years (no % since it was scholarship)
outstanding loan = about 5k
my bro also owes me 5k..still pushing
credit card = 2k - paying on off 200-300 monthly

my question:

1. planning to rent an apartment within 1 year..rental range 600-800..how to make it possible? i feel it is possible by squeezing a bit here and there..
if possible to stretch more than 800 to 1000 monthly ( maybe wife help a bit ) also thinking of buying apartment around rm150k..skim rumah pertama also there to help

2. my education loan outstanding 5k, 500/monthly..if i borrow 10k personal loan (can get 3.3%), pay 5k..and invest 5k (plus my other debts if can back get fast) somewhere else than in the forex, can it helps to sustain the monthly payment? or even better to completely cover it

seriously in your situation how could you even dare to get marry sumore have kid?...

seriously in your situation how could you even dare to get marry sumore have kid?...

yes why not? it s risky but do-able..i m low profile not being so ambitious in life..i guess need to switch job with better pay soon 

u can ignore my income and expenses..it s just rough figure, my question is on the investments and debts.. 

Dear all,

I just started to work this week and Im planning my salary. Kindly give me an advise on which to invest on.
Information:
salary : RM2500+
rental: rm 300
transportation: rm 120
Food: rm 400
clothes n cosmetic: RM 200-400

I don't have a car and dont want to get one in future. I plan to divide the rest of my income into 3 parts.
1st: Saving (Saving acc then fixed acc)
2nd: Investment
3rd: Saving for property 300k-500k

Investment wise most probably wont be in shares due to lack of time. And wont be in gov bond as what u earn might not be enough to fight the inflation. ANd I wont consider an investment-linked insurans as a 10 years plan will cause ur money eaten by the inflation. Mayb will consider currency fix deposit... What you guys think? I have no experience at all n I m only 21.
Is that possible for such an investment mix?

goer&doer,

<<1st: Saving (Saving acc then fixed acc)>>

Until you build up your emergency fund to 3 to 6 months of expense, you do not do anything else.  Use those 3 to 6 months to staudy what works for you.

Dreamer

Thank you Mr. Dreamer.
Till then, will work hard no matter which route I choose. The thread you posted to me seems that you are not supporting young working audlt to buy house.....

Thank you Mr. Dreamer.
Till then, will work hard no matter which route I choose. The thread you posted to me seems that you are not supporting young working audlt to buy house.....

goer&doer,

1) Can a person afford the house that they buy?? My standard rule is a person can still save 10% to 15% of their gross income after they buy.

2) The problem is until a person is married and have children, it is HARD to figure out WHERE to live.

Dreamer

Current price for properties + BLR is too high IMHO...so rather than tie yourself down on a property loan, why not use the money to invest in business or other investment tools out there which yields higher RoR than property?

I wish to buy a house early, partly becoz I don't want to stay with my future mother-in law in the same house.    En, will bear in mind with the first rule.

---

Added on June 18, 2011, 11:18 am

I thought property yield the highest return compare to other investment tools. Would you mind clarify on that?

I wish to buy a house early, partly becoz I don't want to stay with my future mother-in law in the same house.    En, will bear in mind with the first rule.

---

Added on June 18, 2011, 11:18 am

I thought property yield the highest return compare to other investment tools. Would you mind clarify on that?

goer&doer, I don't mean to intrude on the conversation, but I thought I'd like to contribute 2 cents to the topic at hand.

1) Like dreamer101 said, I think you should build some form of savings first before you consider properties. Use that time while you're building the savings to plan ahead.
2) You need to ask yourself why you want to buy a house. As your home? Or as an investment?

If u have to buy, find a place where demand > supply.
If not, most probably u will see the property price return on paper only..

I wish to buy a house early, partly becoz I don't want to stay with my future mother-in law in the same house.  sweat.gif  En, will bear in mind with the first rule.

---

Added on June 18, 2011, 11:18 am

I thought property yield the highest return compare to other investment tools. Would you mind clarify on that?

I thought property yield the highest return compare to other investment tools. Would you mind clarify on that?

goer&doer,

1) That is a BIG LIE.  Most people LOSE MONEY on their property investment.  But, it is not to their BEST INTEREST to tell you.

2) House that you live in is NOT an investment.  99+% of the time, you LOSE MONEY.  But, you buy the house because of life style decision.

<< I wish to buy a house early, partly becoz I don't want to stay with my future mother-in law in the same house>>

3) You may not have a choice.

4) You may change your mind again after you have children...

Dreamer

If talk about rental yield, most residential net rental yield is kinda quite low across.

Only commercial properties can fetch good yield, but commercial properties is totally different ball game with residential properties.