Bro, are you sure at age 26 and only starting to look into Personal Financial Management is alright?
I am 27 and my child is due soon in another 3 months.
Total combined income of me+wife is around 6.5k with 30% savings monthly, excluding annual bonuses and incentives.

Current price for properties + BLR is too high IMHO...so rather than tie yourself down on a property loan, why not use the money to invest in business or other investment tools out there which yields higher RoR than property?

If u have to buy, find a place where demand > supply.
If not, most probably u will see the property price return on paper only..

Why not: if you can invest in something that generates higher return compared to the car loan interest then it would be illogical to settle the loan.

The 30k intended to settle the car loan, should be used to invest rather than the monthly extra cash.

Maybe u can try taking up a flexi loan to save on interest?
Ur post stated Me & hubby BOUGHT an intermediate house.
That means your loan already approved and processed?
In that case, if u plan to sell back the house sooner than the locked in period, there is a early settlement fee imposed if I'm not mistaken.
Do your calculations and evaluate the consequences yea..

This post has been edited by stupidbump: Sep 6 2011, 03:13 PM

Personally, I still think the property price at present since end of 2010 is absurb.
The steam might cool off a little beginning end of the year or next.
But then, there is no way to say when it is profitable to sell a property.

I guess your income at this age can be considered on the higher than average side.

But you are not growing your money at full potential.

IMHO, your savings are pretty conservative and low in return percentile.

End of the day, its a cat and dog fight story.

Those who want to drive big cars, can find all sorts of reason to justify their buying.

And those who prefer to save and invest for the so called better future, will have their point of views too.

In my opinion, it all boils down to what a person really wants in life.
Instant or delayed gratification, that's the main difference.

And not forgetting, there are always sour grapes out there.
This i justified thru years of reading in LYN.

Peace~

Yes, that is exactly what i was referring to.
You are the project manager of your own life, and you are accountable to what ever decisions you made.

One important aspect i learned is that money is your friend, and on the other hand, time is your enemy.
If u manage to achieve a balance between both in decision makings, then you should be quite comfortable.

I actually would like to argue that, even if I might need to strain a little to afford a better life, I would.
I need stress and strain as it is a drive to strive for the better.
IMO, Malaysians are getting way too comfortable in their own comfort zones and majority of ppl tend to be afraid of moving out of their shells to explore further and take a lil more risks.

Personally it would be a regret if I don't take that step to see what it is like at the other end of the rainbow.

Life is short!

U are sure gonna do well in future with this mindset

I started later than u by 2 years.
In my first few years of savings, I invested 50% of total savings in FD, and the other 50% in shares.
I graduated from University with 50k in the bank.

I think u should first invest some money in investment tools and knowledge before committing yourself further.

Bro munkeong,

Mind to share how u derived the 10.409% compounded ?



This post has been edited by stupidbump: Mar 21 2012, 10:35 AM

got it!

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Added on March 21, 2012, 10:57 amBro Mun Keong,

Why is it not the simple calculation of

[(70000-35000)/35000]/7 x 100 = 14.2857% p.a if its not stated 'compounded' ?

This post has been edited by stupidbump: Mar 21 2012, 11:05 AM