QUOTE(SKY 1809 @ Apr 17 2012, 05:45 PM)
Well , the killing part could be the loan of 1.5K , if settled off with some savings , then monthly saving of 2k plus would be quite ok to me.
Expenses look quite ok to me.
yeah....it'll all be settled in 2-3 years, and by then my salary will increase for another 400+-. so 1.5k + 400 more to save...for the time being....quite a tight budget.....
QUOTE(memberiii @ Apr 17 2012, 09:28 PM)
What are Loan 1 and Loan 2?
Your financial plan:
1. Pay down your debts.
2. Do not incur new debts.
3. Do not increase your expenses.
4. Cut down on expenses, if possible.
5. Additional savings can be used to pay down debts if appropriate or as you suggested, save in ASB.
6. Seek an additional income ... give tuition?.
7. It is going to be more challenging when you have children.
- Loan 1 is RM15k loan take up by my wife from a teacher koperasi. 1.8%pa for 3 years. she use the money to settle down when first get posted. still have left RM10k...only used RM5k, didnt know why she took so much last time, but the balance 10k now i dump into tabung haji also....
- Loan 2 is a RM25k loan i took from my father. No interest at all, hehehe
i took the loan to get married, and settle down. used around rm2ok, the balance i dump into tabung haji too......
i'll try to follow your plan, right now no children yet, and we didnt decide whether to have a child now or later after finishing the all the debts.....
right now i do get some additional income by doing some IT sales and services to teachers around my district, which generate around RM1k a month, but not stable, there's a month i only get rm150 due to time constraint. I tried to do tuition but no one interested (im in jeli, kelantan now, quite "ulu" btw
)
QUOTE(felixwang @ Apr 18 2012, 08:31 AM)
Majority of people would spend first, save later. Very little realised that by practising saving prior to spending enables one to have a better control over their expenditure and at the same time, having sufficient money to grow over time, which enables them to achieved their objective by the end of the day.
One must know whether what they can or can't afford based on their take home pay. I would recommend you to purchase the following book to read, prior to starting off your investment.
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Remember, gathering and growing of wealth is just a "strategy" to achieving an "objective" over a pre-determined "time horizon". By having both "objective" and "time horizon" will enables you to determine the kind of risk returned investment vehicles that you should get involved with and the exact amount of investment you should allocate over time.
i am very2 blank with investment. i didnt know where to start and on what to invest to, and how much do i have to have to get started. what i do now is just saving in tabung haji and asb.
about objective....i didnt know...i prefer a stable life but not luxury and really enjoy myself in my carrier now. perhaps my objective for the time being is to buy my own house. is goverment house loan good to take?
Apr 17 2012, 09:32 AM
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