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 Personal financial management, V2

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pauerxi
post Dec 12 2010, 11:08 PM

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hi all,

I just start working for 1 month and my salary is just 1800. I am planning to buy a car for me but i dont know what is the car that can suit my salary and also about the loan. So i need advice from u guys. In addition, how to manage my money? how much should i provide for saving?what about my insurans? what are things that must be done?eg. unit trust, asb ext. i really dont have a good idea about this. so again..please help me..tq
pauerxi
post Dec 12 2010, 11:30 PM

Getting Started
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Junior Member
125 posts

Joined: Oct 2010
QUOTE(dun_panic @ Dec 12 2010, 11:12 PM)
i think u should stick to motorcycle for now,, im still with my EX5 earning about 3k still butthurt. Planing to buy a 2nd EG6 in future x). yeap, rm20 daily for food is about right, better if u cook for dinner. 1 of the most "must have" is insurance . Im with prudential  now, rm150 a mnth. Got med card n also saving.
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thx for the opinion. so when im gonna buy a car for me? i mean what is the financial condition that allow me to buy 1? med card is what? will pay every time im going to clinic? it cover the cost if im get in ward or surgical/serious decease e.g heart attack/diabetes.


QUOTE(cherroy @ Dec 12 2010, 11:13 PM)
My advice, don't buy car if can.

Car liabilities is quite huge to start with, monthly payment for smallest car can be around Rm300~400, but you need to take into account of insurance, petrol, maintenance stuff, easily another Rm300-500 per month easily which is quite norm. So if commit to buy a car, almost half of 1800 gone first. Left you around 900, which you not yet feed yourself, self expenditure etc.

Car is one of worst culprit why most people don't have enough money left each month.
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thx for the advice. i thnk i not gonna buy it right now but have no idea when im gonna buy it. i also planning to keep 500 for monthly savings but what is the best way to keep it, asb/unit trust or anything?

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