Hi, Im 20 this year and im doing my 2nd year diploma. im doing some part-time and able to earn up 800 per month. Till now im able to save up 5k in my saving account. Recently one of my friend introduce me a investment company that invest in forex. http://www.owgfx.com/ im not sure whether i should put in some money inside to invest cause i like to see my money keep growing or continue to earn 800 per month? please give me some advise what should i do now and any ideas that can help me to keep my money grow. thanks people.

I never expect to earn RM800 per month with 5k investment. As long got return in the investment is already okay for me.

Fixed:
Car Loan: RM470
House Rent: RM260
Education loan: RM450
Phone Bill: RM50
Total: RM1250

Variable:
Parking: RM50
Petrol car/bike: RM200
Food and everyday's expenses: RM750
Public Transportation: RM100
Total: RM1100

What should i do guys? Where should i cut the expense?

2 ways of conventional savings method when pay day comes:-

a) spend 1st.. then whatever left in payroll account are my savings
b) set aside an amount (it can be as little as RM100) on pay day... then spend whatever left.. even spend all also nvm, at least RM100 sudah saved.

80% of employees adopt method (a) .. this will NEVER work!! After 10 years, your bank account will still be ZERO.. TRUST me....

Bro, do yourself and your family a favour, go adopt savings method (b) ..... go sign up a forced savings plan... if dunno how, then PM me

hi all...for those who work far away from parent..how many time do guys 'balik kampung'?...i'm working in KL and travel back to Penang every month...so i have to spend at least RM200 for toll and fuel..

Hi Guys,

I like to have some opinion, the house in my kampung need some makeover with repairing roofing and land uplifting to make it higher ( due to neighbor's waste is leaking over to my "kolam") not sure the budget, but roughly could use up 7-10k

I came across below personal loan   

http://www.standardchartered.com.my/person...ans/cashone/en/

I not sure I calculated it right, please show me.

RM10000 loan, (duration 1 year repayment) based on (0.90% per month/ 10.8 per year)= total RM11080

Is it like that?

Hi there, just hope to get some advise 

23years old, male, KL.

Petrol/touch n go-250
Food - 250
Handphone - 161(internet+call+sms+iphone)
Internet - 88
Insurance - 250 ( medical card,life insurance , PA , 36 critical illness)
Public Mutual - 200 (auto debit for public mutual every month)
Home allowance - 400
Saving - 200
miscellaneous (entertainment,grocery) - 250

total - 2049

Salary -Rm 2700

i do have 3 months emergency funds in FD..

how is it?

Hello,

Need your point of view about my financial circumstances. I do't know how to progress from here to maximize my saving per month, and how can I earn more? I plan to buy more properties in future, wanna goreng property! My situation is as follows:

Age : 30

Asset (Home) : RM700,000 (Still under loan) 

Salary: RM6,000 (Net income)

Commitment:
Home loan : RM 2,100
Prepaid phone bill : RM 10
Car petrol : RM 400
Credit Card : I don't have a credit card!
Car maintenance : RM 50 (average per month)
Meal : RM 400
Accommodation : RM 100 (Maintenance fee of my Dad's condo)
MISC (incl. annual insurance) : RM 500

Saving per month : RM 2,400

I'm bad in managing my finances in my early 20's as I got blacklisted for credit card usage when I'm 24. Soon after that I enroll myself with AKPK. I'm now 28 and single and wanted to start a family next year. Now I'm trying to save money but most of the time I bought stupid stuff which is not needed (alot of shoes, football kits, etc.). End of the month I left with only RM100-200 to save and some months there is none.    I don't want to be in a family that is full of debt that will break the marriage. I don't want to be that guy. My target by end of this year I must have at least RM15K in savings. Most of my savings I pumped it into long term investment. I really needed an advice/opinion/recommendations. Below is my monthly fixed deduction.
Income:

RM2500 average after EPF deduction.

Expenses:

AKPK          : RM200
Astro          : RM141
Insurance        : RM150
Utilities        : RM70
Food          : RM700 (I don't know how to cook. Mostly eating out.)
Transport        : RM50 (I only have a motorcycle which already fully paid.)
Entertainment    : RM300
Phone Bill        : RM80

Assets/Savings:

- No cash savings as I'm afraid I will spend it.
- Currently RM4000 saved under bank islam investment account slip. RM1000 for 3 month duration and RM3000 for 12 month duration.
- Unit Trust deduction every 3 months from EPF.

I really want to share here....

15-17% p.a return...
Time period 5-7 years.
Update frequently.
Low risk.
Big capital.
Might double you capital in 7 years.

Interested fellow please to ask me.

Are U smoking some weed or something Bursalchemy? Please do not simply accuse me of things which i have NO POWER to do, i'm just a "normal user" of the forum, just like U.
If U have nothing else to do other than hurl stupidity, please go chase your own tail till U are happy.

Hi there! it's great that you are a step ahead of wealth creation where you are willing to seek advice and opinions for your future planning. Congrats to you! I'm recently passed my investment linked exam (certified by Bank Negara Malaysia) and working as financial advisor with Buss Consulting. I would love to share my ideas here with you and hope it will help you before you jump to "kamikaze".

When you decide to do investment firstly you need to ask yourself why you wanna do investment and what kind of investment you would love to join? And what do you expect in investment? There can be so many reasons for investment and the MAIN REASON why we invest is; to earn extra money for a better living in future for yourself and family. Am I right?

What kind of investment is the best for you? For me, to be honest, the best investment in life to invest is in your own HEALTH. Why? Because you can't predict the future and you will never know what happen to you tomorrow, next week or next month. 36 critical illness don't wait for you to earn money then attack you, accident can happen anytime and anywhere, and you might just collapse whenever and wherever you are. But are you prepare?

Investment is smart way to make money, but is it smart to use your investment money and benefits to pay off your medical bills instead of using it for yourself and family? Is it smart to invest in property but once you are attack by accident or critical illness you have to sell it all? Same goes to shares investment, bonds, asb, unit trust etc. you can put all your money to invest in all those investment but is it a smart move? Money in and money out is not a smart financial planning. The theory of liabilities and assets explain it all.

One of the seminar I attend recently told me that you can invest as many as investments you would love to and earn like mad but once the "tsunami attack" what happen to your investment? And by tsunami attack I mean critical illness and accident. Definitely you will have to use up your investment money and even sell your property but even that, will it be enough? And investment is a long term planning, you won't immediate get 500k in one or two months and you need a huge amount of cash to start an investment. please be noted, theres no guarantee in investment.

Do you know that main reason of bankruptcy is because of medical bills? (Yes, you can double check with Bank Negara Malaysia and you must at least have 500k in case of emergency as medical bills go up all the time!) And why did bankruptcy happen? Because not everyone even bother to sit and plan and build the foundation, and by foundation I mean preparation for in case or emergency in term of you health as it changes anytime and you have no control over it! this is The most basic thing you have to understand and plan with a proper financial advisor. Because you can have all the investment in the world but it all will be wipe off if you don't sit and plan for your future and build the foundation!
To close up, I have few question to ask you here;

1. Are you prepared in case of "tsunami attack" financially?
2. Do you have immediate 500k in case of emergency? (Critical illness and accident, TPD or even death!)
3. Do you expect your parents, siblings and relatives n friends to pay and support your medical bills?
4. Are you covered by any medical card or insurance?
5. how well you understand your policy and are you aware of the loophole?

Right now you might say that you have no money or time to plan for this, but do you know that is the strongest reason why you should sit down and plan! I believe creating awareness in this sense is so crucial and this is a necessity for us to plan for our future and I can help you in that. Do contact me through my email at feliciachristymaxrie@gmail.com or contact me at 60148917089.

Have a good day.

Wong Seafood is sifu indeed

U made me change my mind about upgrading my car...old cars do have a very good "function"

---

Added on October 8, 2012, 7:15 pm
Because car is not his interest. He has a private jet, though.

Allow me to share some of my opinions.

I use the allocation of 70 in stocks and 30 in bonds for my portfolio.  I used the thumb rule of 100-age=allocation in stocks.

Furthermore, I made sure I have 6 months in cash/liquidity to support me in case of emergencies.  I have disability, health, jobless, liability and legal costs insurance only.  I suggest everyone to consider what risks you would like to transfer and buy the appropriate insurance.  Be a smart consumer and do not listen blindly to the agents.  They are not a financial planner and work only to sell as many policies to you as possible.

I set a goal to increase my net worth by 2% monthly or 27% annually and so far it has been possible.  I monitor my net worth using a simple asset/liability spreadsheet monthly.  My assets such as my car are amortized linearly.  I put most of my salary roughly 35-40% monthly into investments such as the stock market, mutual funds and bonds.  With disciplined monitoring and evaluating of my portfolio quarterly, I rebalance the allocation accordingly.

One golden rule everyone should follow is to only invest in money you can afford to lose.  No matter the investment, always understand the risk, and don't just get blinded by the reward.