hello guys. can share with me how u keep your money from ownselves sence of lust to buy new new things and not eat and spend sederhana? if kept in bank, still can draw I have to save money for something. and I'm pretty sure I'm super bad at this.. so, actually how u guys control this? or u guys actually have strong self control?

lets keep this semi serious ok?

use bank account book without ATM.

truth fact

every bank still have this service? I'm bit noob about these things I can still deposit money to this account using atm or online?

got. you insist you want to have book without ATM. if still you got the book + ATM card. gunting the card lor.

you can still manual bank-in, CDM or online transfer.

make 2 account. ATM account is dummy when u got min limit of spend. the without ATM is your saving.

Have separate bank accounts.

One for savings.
One for expenses.
One for emergency.

Take your salary, and the first thing you do is keep your savings portion (10% to 50% - its up to you how much). No matter what happens, do not touch this money at all cost.

Whatever you have balance from that, use for expenses. Write down everything you spend your money on. Once you start doing this, you will know how to control your expenses.

Whatever remaining balance, you keep it in your emergency account. This is your emergency "supply" in case you need spend extra the following month.

Open a saving account with online banking. Whenever there is cash in saving account, transfer it via online to fixed deposit. Don't use credit card for luxury things apart from utilities and petrol. You will save up some money eventually.

thanks everyone for kind advice I'll try with the separate bank accounts first. I'm actually students, I don't want to spend too much of my scholarships since I got 2 semester left. need to save for future.. I can actually use around 400 only per month from my scholarships. but I usually cheat myself with that always feel very bad at the end of semester..

You should jot down everything you spend your money on. The moment you have this habit, you will know what you need to cut down on. From that point on, you'll know how to budget on a monthly basis.

deposit to my account. I will keep it for you

Works for me

ah ya! forget about this. will try to make this as habits. I have such weak willing power usually. most things quit mid way. at the end, feel guilty. hope things will change..

I actually have two also. but both have card and both card are within my grasp so, I sometimes takes from the saving one



This post has been edited by wuwah: Oct 30 2012, 02:08 AM

tiap2 hari masuk duit kat bank walaupun sepuluh ringgit...bank tu tak payah buat kad ATM...

keep trying and you'll eventually get the hang of it.

tak faham bro

1. open a CDS account and when you get a bit of money, buy some good dividend paying counters.

2. pay for own investment linked insurance products.

3. self control.

I'm not sure about investment.. this way, can I actually sell back in 1 or 2 years time? and like, buy bit by bit? I'm not account major and very noob about this things here

gua pun nak tidoq dah bro...yang gua tau ada ah Wang...ada ah Moi....hehe..

haha.. plan2 bro.. tu simpan duit nk naik pelamin la actually... & for self control, to be responsible..

This post has been edited by wuwah: Oct 30 2012, 02:18 AM

you can sell at anytime you want but because there is a high chance you will be buying 1-2 lots a month, there is no point in trading the shares but the point of my suggestion was to enable you to get dividend payments from those counters by buying the shares.

ffs, you don't need to be an account major to know these sort of things. just read more because these are things that you will need to know in life.

sure bro. I'd read about maybank CDS. now a bit blur. maybe coz midnight. later I'll try to digest again thanks for advice though

2. Bad advice if it is for pure investment. Even though the product is investment linked (ILP) insurance, INSURANCE is INSURANCE, it is for PROTECTION, and not for investment. Please don't get brain washed by unscrupulous insurance agents.

The main purpose of the ILP is to generate more cash values than the traditional plans. Since insurance charges goes up by age, the cash values are needed to support the policy in older years. Lets not forget that the medical card/cover needs to be taking care of us till age 70/80 and by then, when we are retired, the cash values accumulated throughout the paying term may be able to sustain the policy.

Keep it in pocket. No need bank.

always have multiple bank accounts.

One for savings, another for use.

Always split half whenever you get your paycheck. Save half, use the other half.

Just treat it as if you're only earning less than half of your real paycheck.

use something like premier value saver from maybank.. fix m400 as part of your saving, investment and insurance...

1) Keep in fixed deposit, time hasn't come, you can't take out money;

2) buy genneva gold. And Bank Negara will keep it for you!!

This post has been edited by TSOM: Oct 30 2012, 09:01 AM

Insurance is for long term and it is for protection. TS can't liquidate it as fast when he needs the money to finance his education. Same goes to investments. Investments are subjected to investment risks, and of course high risk high returns but high losses as well.

Best at the moment is savings account, and snowball it to FD.

2. it's a good thing to pay on this stuff. as many think it's a waste like buying things and money gone. it's basically buying protection.



well.. i read the above.. and he might be true too..
i'm no expert in this field.. so i dunno the in and out..
so untill u urself feels that insurance is a "saving" to you
then it's kind of worth it

it's not about insurance here.. it's about saving
and yes.. i was -ve on this before and now i know that paying for protection is kind of saving to me.
if not the extra money i will go spend on more wasteful manner like on things that is not needed.

This post has been edited by ungka: Oct 30 2012, 09:07 AM

ask ur friend to keep, this way u won't be able to use any money

i open 2 acc in one bank..one for salary one for saving..when salary come in..quick transfer to saving then pretend its never exist

Most banks now has online fixed deposit facilities.

What I did is I open a new cert each month for few ks at a time once I get my salary.

Since those in fd can't be withdraw, it gives you an incentive to spend your remaining money wisely.

very very sound advice brah...

I am not trying to promote my blog or anything but do visit my blog if you want to know what insurance is all about. There is a write up on ILP.

Have a nice day

this.. true story.. and it work.. dont do internet bank in as well..
works for me..

another things...endowment..

This post has been edited by yahiko: Oct 30 2012, 09:14 AM

more on self discipline. just put the money in FD

Get married, ask your wife to keep the money (but later she use to but cincin emas lol)

I got two account..

1 for saving purpose without atm or ebanking..
1 for making easy transaction with atm and ebanking..

can pm me the link.
coz if the link is in siggy then i cant see it.
TQ

*my setting is to disable siggy and avatar and so on that might be an eyesore
so i dont recognize/hav favoritism to any forumers here.
it helps me being neutral. and dont waste my screen view

i have 2 account, 1 to save 1 to spend, try set a limit each time you withdraw from your savings and deposit into your account which you use to spend, I've tried that and it helps me save

Not really. My premier value saver before mature i took all the money out for my house downpayment. 5 years to mature and you can get 100% out of it.. But i took the money out on the 4th year. Which pretty much aided me pretty well. rm200k from death and quite a good sum of interest rate. You need to be flexible enough to evaluate your situation. xx% for saving. x% for insurance and xx% for investment.

For someone who doesn't even have any savings yet.. It's best to opt for a plan which has it all and from there continue to FORCE SAVING.

Most insurance agent are... taken from the internet. Haha

INSURANCE AGENT = An individual that do not have your interest in his mind and will push you to invest a "disproportional" of your income to a scheme, not considering the cost of opportunities.

Most insurance agents will assume that the single purpose for people to work is for retirement planning. They fail to understand people's needs for starting a business, taking courses, investment, marriage
, repaying your old parents, and experiencing life.

They commonly use OUTDATED sales approach by comparing bank interest rate and insurance interest rate. They assume that people put money in the bank just because of the interest. Most if not all of the insurance agents fail to ask for the reason why people put their money in the bank.
...
An insurance agent represent an insurance company in getting sales, but NONE of the insurance agent represent an insurance company when there is a problem.

Most insurance agents do not aware that they are being a cannon folder.

Sometimes, an insurance agent will disguise himself as an investment agent, bank employee, etc..

This will give an instant bad image when they start to presenting their obvious insurance products.

Some insurance agents will push you to give them referral rather than advertising themselves as experts.

Most insurance agents are pushy salesman rather than PR or marketer. They fail to brand themselves.

People won't thinking of contacting a pushy insurance agent when they need information about insurance and investment.

Many insurance agents giving remarkable hard work and persistence but fail. Instead of evaluating their strategies, they put even more hard work and persistence ti fail harder.

Dear insurance agents, it's time for re-branding.

I got 2 account. Split half of your salary. One for saving (no ATM card), one for expenses (with ATM card). That means I only use half of my salary, I can save the other half.

and remember once hit a min amount of FD just take out from Acc and put into FD.


abit hardwork but you will be happy when u see the digit

And the point of posting this is ..... ?

Its what I usually do.

simpan kat tabung haji,

no atm
few branch

easy, date with ur right hand instead of everything else

Wrong thread...

This post has been edited by roystevenung: Oct 30 2012, 12:52 PM

Giv all money to your mother. She only giv you daily meal money and fares.
True story.

thanks bro. I try to read more about this. for now, I'm more to short term, and hope to achieve self discipline after that, since I'm a bit gadget crazy

how to pretend? atm card within my grasp also

yeah, I want to train to be discipline. last night, got an advice to keep notes of expences. hope to do that

my calon can be trusted one this one later la

yeah, I planned to not used ATM card after this for one of my account

don keep. spend it. u wont know wat would happen next. today could b ur last day alive. who knows?
keep keep keep, save save save, at d end cant bring 2 grave. d 1 profit at d end s bank/gov/child/wife but u work so hard 4 ur lifetime not enjoying

This post has been edited by .O.: Oct 30 2012, 02:23 PM

open an excel file, do your monthly budget
set targets like :'i wanna buy car by X month Y year, and then do the calculation possible or not"
save it
review it every month end when gaji come out before u touch a single cent

even better if u can do these
u wan buy car? do calculation got loan vs no loan, see the difference and calculate how many months of your salary goes to the bank interest
dont listen to the bankers bs like depreciation , ure not in the high income bracket and have to work 3 months for the bank for borrowing u money

only works if u do it on excel

buy 1g-5g of gold every month..and in 10years time,wallaaaa..