Jul 12 2012, 04:12 AM
QUOTE(jiew71 @ Jul 10 2012, 11:23 PM)
Hi all sifus,
I'm 24 this year, I need some advise from all sifus on managing my finances and where to invest my spare money. I do not have a good habit of saving
But recently after gf talked some sense into me about future, I start to think of where to invest my money 
Nett income = RM5.2k
Property 1 = RM1200
Communication = RM300 approx. (satellite phone + mobile roaming)
Food + Entertainment+Misc. =RM 1000
I dun have personal insurance.
I am planning on getting a car soon, i prefer a new car cos i dun wan to be bothered with maintenance (major maintenance) for the first 3-5years. I am planning to put dun RM1500 a month for car 9years loan. Any advise on that?
Also about investments, I just started investing in physical gold (Swiss PAMPs). Any other investments to recommend? with spare cash of 1.2k a month?
Please dun flame me cos i know peanuts about investment only here a bit there a bit.
Congrats... to have a NETT INCOME of 5.2k at the age of 24 is awesome. I wish I had that when I was your age.I'm 24 this year, I need some advise from all sifus on managing my finances and where to invest my spare money. I do not have a good habit of saving
But recently after gf talked some sense into me about future, I start to think of where to invest my money Nett income = RM5.2k
Property 1 = RM1200
Communication = RM300 approx. (satellite phone + mobile roaming)
Food + Entertainment+Misc. =RM 1000
I dun have personal insurance.
I am planning on getting a car soon, i prefer a new car cos i dun wan to be bothered with maintenance (major maintenance) for the first 3-5years. I am planning to put dun RM1500 a month for car 9years loan. Any advise on that?
Also about investments, I just started investing in physical gold (Swiss PAMPs). Any other investments to recommend? with spare cash of 1.2k a month?
Please dun flame me cos i know peanuts about investment only here a bit there a bit.
On your question of personal insurance, I leave that to you but im not a fan of insurance at all. I think they make more money out of you than you can cover yourself in the long run.
on your car, do you travel outstation a lot? why 1.5k a month on car? end of the day your car depreciates. Seems that you don't have a car so is not a must to have but a mere luxury... go for a cheaper one say Viva, so your payment like what 5oo/month? so save 1K already there compared to your initial plan. Once you get your insurance ncb up to 55% max after 5 years then go for bigger car lo
But you are in the right place as you are wanting to learn where to park your money to get better returns. Well done mate!
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