Personal financial management, V2
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 Jun 6 2011, 03:34 PM
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#1
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Junior Member
113 posts Joined: Dec 2008  
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Hi guys,I'm currently 19 and have a stash of cash in the bank. (read:accumulation of 19 years of angpau money and some 'rewards' for academic performance
 ). Is it wise to take 1/3 of it out to lock it in FD for 1 year?I mean all my money now is currently in savings,and as most of you here know,the yield of FD currently is almost 10 times more compared to the yielding of normal savings.  My question here is there any extra terms that I have to note for FD?My basic understanding of it is its a lock of the funds for a certain period of time..or is there additional charges or rules ? thanks in advance  |
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Jun 10 2011, 02:43 PM
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#2
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Junior Member
113 posts Joined: Dec 2008
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QUOTE(wongmunkeong @ Jun 6 2011, 05:23 PM) Bro, i think U shd just dump them all into a 2 mths or 3 mths FD now, WHILE U learn and plan what to do with yr $ as time goes on. I'm assuming U dont need to touch these $ ok. If U do, please leave enough in Savings yar.  QUOTE(Fat3Twister @ Jun 8 2011, 10:11 AM) If you don't need the cash then you should do something with it. You can roll them in FD by putting in few FD for 1 month, 3 months, 6 months or even years. If you are a risk taker, maybe you can start with unit trust. At the same time, start investing in yourself by learning financial planning, investment tools etc. to prepare yourself to manage your $$$ better in the future. Thanks a lot for both of your replies.  FateTwister,are there any books out there that you would recommend to a beginner like me? Once again,thanks  Edit:How accurate is the data provided at http://www.bankinginfo.com.my/ are they constantly updated? This post has been edited by Sicarius: Jun 10 2011, 02:47 PM |
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