Yes, you need to open a saving account.

Actually if you would spend some little time to look through the dicussion here, many sifus already told over and over again, on how to save and plan ur spending wisely. So, spend ur time to read, it's definitely worthy!

For me, it's just as simple as the saying goes...living below ur means  =)

I need some opinion too ^^

I'm currently work for 6 month already (fresh grad), and start to accumulate more money. I'm planning to park my money in eFD first as I'm no good in any investment yet (No experience).

My salary is around 2.6k. I consider myself lucky as I don't have to buy a car so no car loan, but I have to pay a lot for my parent's insurance and living cost, so only can save up to 600+ ....

I just start to learn this financial management and plan to put my money in FD. I think putting in 3 month term is much better than putting in 12 month term so I can generate more money from interest, is this correct?
So the interest can keep growing every 3 month I deposit (600x3) instead of deposit my monthly save money every one year. Need opinion from you guys =)

Shariah compliant is for Muslims, as it takes away the concept of conventional interest and uses "profit sharing" instead.
http://en.wikipedia.org/wiki/Islamic_banking

if you using maybank2u - you can find at m2u planner.

You can see your expenses(creditcard account) and income(salary acc) in graph.

WiLeKiyo,

Just create your own income and expense tracker, it is important and very useful way for budgeting and cutting unwanted costs. Please download from this page if you do not know how to create an income and expenses trackers.

Info,
http://www.akpk.org.my/tools/budget-application

http://www.spreadsheet123.com/ExcelTemplat...preadsheet.html

I used few time month, later lazy to key in.

Self-customised Excel sheet is the best, u can customise it to suit the detail/complexity that u require.

I use a free app on my phone called My Budget Book. Does a great job of tracking your income and expenses. Can key in right after taking money out of your wallet

I still live in dinosaur stone age..

I no use software..

I just self control min. RM2K savings per month. Min. RM25K savings a year. I roughly count how many years I keep then I know how much I have.

I collect collect coins and cash $$$$..Enough RM5K , I go buy FD

Understand lo I partime morning market road side part time sell seafood, own grown vege, etc. All in cash n coins.

For example I save 2 year, got la RM50K, I ask my dad go buy FD senior citizen buy higher %. He also feel secure no need worry me lo coz got so money in his hands. Can sleep well.

Money not in my hand I cannot spend. Thus control lo.

When I want to buy hse let say RM200K, I ask my dad for my money and go buy cash.

Typical way for a Technician not highly educated, easy count his money, No need think and worry much where the money goes.

I believe I no owe bank any money. Only bank owe me money. That is good and easy to count.

I follow this table only.. Easy see easy calculate in excel

Well I've been to 2 chinese company .. 1 use PBB 1 use Affin ... lol .. no such rule la u think too much lol .. I'd prefer PBB or Maybank ... It's hell finding an Affin ATM ... don't think HLB is much better lol ..