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 Personal financial management, V2

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chester_85
post Apr 3 2011, 03:11 PM

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i'm 26 this year... Would require some advice on my financial management

INCOME:
Salary : RM 3890 (before tax,epf deduction)

LIABILITIES:
Food: RM600
Small room rental: RM 340
Utilities bills: RM 50
Phone: RM 50
Transportation: RM100
Insurance: RM 150
Parents: RM 500
Study Loan Repayment :RM 500
TOTAL : RM2290

I'm planning to get a car soon which I think it'll be a quite a burden for me.
I expect there'll be at least additional 1k liabilities.

What can i do for better cash flow?
chester_85
post Apr 4 2011, 04:33 PM

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QUOTE(kucingfight @ Apr 3 2011, 04:34 PM)
looks good on the savings. if u ultimately need a car, get a cheap 2nd hand, kancil etc. that is if u don mind driving it. use the balance for investment
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not quite so "ultimately" need a car.
my staying place and work place are within walking distance to LRT stations.
Car basically is just for social needs. blush.gif

QUOTE(spiderman@lyn @ Apr 3 2011, 06:52 PM)
the portion for the food is quite high, don't mind asking is this for yourself which include breakfast, lunch and dinner? as for the car, if you just want to use to bring you from point A to B then i agree with kucingfight. once you get your emergency fund and investment stabilized then you think about better car besides bring you from point A to B.
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yup, actually 600 for food is just a estimation only. Normally i dont spend more than 20 for my meals each day.
Only occasionally i went to have some drinks and dinner at better restaurants with my friends. sweat.gif

QUOTE(ah_suknat @ Apr 3 2011, 10:08 PM)
get cheaper car like local cars, monthly payment will be somewhere around rm500
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That's my initial planning for the car as well. Monthly installment <=600 + fuel + parking , will be less than 1k , i think sweat.gif

chester_85
post Apr 4 2011, 05:03 PM

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Joined: Sep 2006
QUOTE(ah_suknat @ Apr 4 2011, 04:45 PM)
dont forget insurance and road tax, toll, and regular car service icon_idea.gif
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I wonder how others survive with lower income and yet still able own a car... blink.gif
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