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Personal financial management, V2
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solemn_86
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 Mar 15 2011, 10:42 AM
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Getting Started
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Hi all, seems this topic is stagnant for a while so I bumped it and in need of advice INCOME: Salary : RM 2385 Others : RM 900 LIABILITIES: Study Loan : PTPTN loan RM50k (need advice the most on how to settle fast  ) Car Loan: RM 500 p/m (Viva 7 years, petrol is managed by my family) Food : RM 500 Rent : RM 220 Phone (Maxis prepaid): RM 30 p/m Entertainment (UNIFI): RM 150 (VIP5) Games (PS3) : RM 300 SAVINGS: ASB : RM 13000 as of now (I'm saving RM1000 p/m) Cash in hand : zilch So I'm left with RM 585 every month, give and take a hundred or two. Please advice on how to minimize liabilities (especially that PTPTN  ) Thank you very much |
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solemn_86
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Mar 15 2011, 11:35 AM
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Getting Started
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QUOTE(zenwell @ Mar 15 2011, 11:06 AM) Cut the games and put the RM300 towards settling your ptptn loan. for ASB maybe after you've saved an amount that you feel comfortable, start throwing the monthly rm1000 into your ptptn loan. just my suggestion. Ok thanks, a bit extreme but maybe workable |
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solemn_86
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Mar 16 2011, 01:06 PM
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Getting Started
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QUOTE(gark @ Mar 15 2011, 05:45 PM) Don't worry on the PTPTN loan as the interest rate is low, just pay the minimum amount like RM 50 per month. Continue to invest in ASB until you hit max 200K, then only put your money in the PTPTN loan and/or other investments. Consider putting more into ASB (the maximum you can afford) until you have maxed it, the sooner the better then let it breed until you retire.  Thanks, I think so too because the dividend for ASB is 7%-8% (depends)  I hope that along the years I'll be able to max my ASB and at the same time, settle my PTPTN  |
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solemn_86
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Apr 5 2011, 08:14 AM
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Getting Started
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QUOTE(chester_85 @ Apr 4 2011, 05:03 PM) I wonder how others survive with lower income and yet still able own a car...  Personal loans, perhaps  |
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