Personal financial management, V2
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 Nov 19 2010, 12:16 PM
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#1
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Senior Member
3,091 posts Joined: Jan 2003 
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guys, i wanna ask something regarding the 6 months emergency fund, normally where would you guys keep the funds?
i have it spread in FD, ASW, Sukuk, ASM, izzit safe? or should i just put it all in FD only? still need to split it up and put into different bank FD? thanks |
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Feb 15 2012, 09:24 AM
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#2
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Senior Member
3,091 posts Joined: Jan 2003
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QUOTE(ghoss @ Feb 15 2012, 09:08 AM) Thanks for helping if you really need it try to look for those 0% balance transfer. and commit yourself to settle the balance transfer and cut your old CC to prevent from accumulating debt again I didn't know you can count ma  If :"pay AS MUCH AS U CAN every month" is not an option. So guys , meaning if I pay monthly 378.24 to my credit , the interest is lesser than the loan ?  |
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Oct 1 2012, 01:42 PM
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#3
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Senior Member
3,091 posts Joined: Jan 2003
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hi all sifu's,
need some opinion here, currently having a property loan balance of around RM120k remaining 16 years @ 4% interest fixed, epf account 2 have around RM50k available, should i use the RM50k to reduce the loan or keep the cash in epf for the average 5% interest? |
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Oct 1 2012, 03:15 PM
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#4
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Senior Member
3,091 posts Joined: Jan 2003
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QUOTE(wongmunkeong @ Oct 1 2012, 01:49 PM) Logic-wise: 5%pa to cover 4%pa doesn't make sense thanks sifu wong,VS More than logic-wise: If U are capable as an investor OR business person, taking out MONTHLY or YEARLY (different yar, please check KWSP) for cash flow purposes is worthwhile. Just a thought well actually my aim was to quickly finish the existing loan and jump to another property, so do you think it is worth to do like this? |
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Oct 1 2012, 11:16 PM
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#5
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Senior Member
3,091 posts Joined: Jan 2003
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QUOTE(wongmunkeong @ Oct 1 2012, 04:24 PM) Bro - no sifu, just a working stiff, leveraging on "know the rules, use the rules" thanks sifu Hmm.. if that's your goal, should be good and clear - just take out and paydown cow cow. Other thoughts IF U have a flexi mortgage a/c: a. Use monthly withdrawals for EPF A/C2 - not lump sum yearly. These goes to your bank a/c, NOT mortgage a/c like the yearly withdrawals. b. These then may be used to pay for your other properties/investments OR pay down your mortgage (knocking down capital, thus interest charges), WHILE awaiting investment opportunities. Re-draw (flexi mortgage mar) when the opportunities arise. Just a thought  for the advice, will do further research |
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Oct 5 2012, 01:57 PM
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#6
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Senior Member
3,091 posts Joined: Jan 2003
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QUOTE(silentemotion @ Oct 5 2012, 10:55 AM) Can i know wats ur purpose of jumping to another prop? For investment purpose? Fliiping or collect rental basis? it is to collect rental and flipping if the time/price is right  |
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Oct 5 2012, 03:20 PM
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#7
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Senior Member
3,091 posts Joined: Jan 2003
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QUOTE(silentemotion @ Oct 5 2012, 02:13 PM) I think withdraw the epf to pay the current house monthly is a good choice. Then collect rental from another prop. IF the rental is enuf to cover the monthly instalment and yet provide some cash flow, that would be the best. i was thinking abount withdrawing the epf to pay for the next house as downpayment and use the rental to cover the monthly installment |
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