Can anybody help me on what to do with my money? I mean.. how to grow it?

My monthly expenses:

Fixed:
Car Loan: RM690 (10 yrs)
House Rent: RM200
Phone Bill: RM50
Mom : 300
Tabung Haji : 100
Zakat : 100
Takaful : 25
EPF : 440
PCB = average 80
Total = 1985


Variable:
Petrol car: RM200
Food and everyday's expenses: RM500
Total = 700

Total Expenses = 2685

My monthly Income = 4000

Income - Expenses = 1315


I am a female, 24 yrs old and earning RM4000 a month. It has been 7 months that I've been working but I still don't have an investment plan.. all my money just come and go as I please. I've got a credit card, but I only use it for hotel booking because I travel seldomly (about once or twice in 3 months). I pay most things in cash..

Anybody can give me a beginner guide on what to invest in? How much amount should i budget for investment monthly? I've got RM1000 in hand as initial investment.. and I prefer to invest in Islamic investments. I want to save the money i have now before i use it for my shopping habit... Pls help!!

This post has been edited by redblaque: Nov 19 2011, 09:03 AM

TQ sifus! I didn't use any downpayment for my car, thus the long repayment period. The rm25 takaful is for accidental death/injury/hospitalisation..

Forgot to mention.. I have another insurance with medical card provided by my company that also covers illnesses.

Right now I don't know if the rm25 takaful i'm currently participating is beneficial or not in the long term.. should i terminate it? just participated for 3 months.. huuu. so n00b..

i'm sorry this is such a basic question,

referring to general investment accounts, lets say I deposit rm500 for 1 month tenure.

at the end of the tenure, that means i can withdraw the money?

what if i want to put in again some money, that means i need to renew?

can i just put in RM1500 for a 3 month tenure? or i need to put in rm500 each month?