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 Personal financial management, V2

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victor131490
post Feb 25 2013, 11:34 PM

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From: Ipoh



i wanted to share out my financial situation too. hope can get few advices.

salary = 2000 after minus sosco and epf

car loan = rm510
house rent + parking = rm115+65
car petrol = rm80
utilities = rm80
parents = rm200

balance = rm950

only manage to save rm200 per month if nothing special case such as going back hometown.
maybe will go back hometown once a month. the toll charges will be rm32 + rm40 petrol for two ways.

maybe i should find a part time job for weekends. cry.gif
victor131490
post Feb 26 2013, 11:55 AM

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367 posts

Joined: Dec 2006
From: Ipoh



QUOTE(poolcarpet @ Feb 26 2013, 09:30 AM)
I think he also needs to eat, buy clothes, maybe some movies now and then.... don't think RM750 is a lot to spend for 1 month these days....  sweat.gif
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you are right. maybe around rm600-rm700 for food. if makan maggi for any 7 days in that month, food expenses maybe only rm500-rm600. nod.gif
victor131490
post Feb 26 2013, 01:02 PM

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367 posts

Joined: Dec 2006
From: Ipoh



QUOTE(poolcarpet @ Feb 26 2013, 12:03 PM)
smile.gif Ok, I was hesitant to comment on the initial post, but anyway, from the listing you gave, I think we can clearly see that car is eating up a significant chunk of your income...

RM510 + RM65 + RM80 = RM655 which is 32% of your take home pay.

House Rent seems very low and reasonable, I'm guessing you're renting a room so nothing much to do there.

Hate to say this but the car is really a huge expense, but I guess you're on car loan and maybe hard to do anything about it without suffering significant loss (what car and how long more loan?), but if there is a way to review that expenditure, maybe worth thinking....

The other thing is maybe work out a budget and try to be disciplined in that to try and increase savings from RM200 to more.

e.g. let's say budget RM150 spending money per week, and if you can track down to detailed categories even better, e.g. how much spent on food, entertainment, clothing, etc... but this is easier said that done because I also struggle with keeping track of spending  rclxub.gif

"salary = 2000 after minus sosco and epf
car loan = rm510
house rent + parking = rm115+65
car petrol = rm80
utilities = rm80
parents = rm200
balance = rm950"
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im sharing room with my ex-classmate. just graduated. potong saga. borrow 35k.7 years loan. i also keep tracking, but keep lost track. in the midweek, one or two days missing.

QUOTE(firewire @ Feb 26 2013, 12:28 PM)
don't sacrifice your health by consuming instant noodles everyday or so frequently.

you can have healthy and afforable food aka prepare own meal, no fast food, restaurant food.

btw, where is your hometown, since you go back alone, why dont you take bus or train? driving is very costly if you travel alone.
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ipoh my hometown, travel from penang. wanted to take bus/train. but when go back, no car to use for visit friend/hang out. cry.gif
victor131490
post Feb 26 2013, 02:03 PM

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367 posts

Joined: Dec 2006
From: Ipoh



QUOTE(gark @ Feb 26 2013, 01:18 PM)
Have you consider using penang rapid to go to work? Convenient and cheap wor...

If you can increase to RM 400 savings a month would be very commendable already and start to invest (4,800 a year). Later with yearly increment, you will have more income for property investment etc.
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should have bought a motor instead. rice already become porridge.

QUOTE(WintersuN @ Feb 26 2013, 01:30 PM)
y penang u need parking so expensive? Im from penang also
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live in apartment. kira cheap already. my friend one rm100. @_@

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