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> Economy going down

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cloudwan0
post Jul 31 2013, 04:22 PM

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QUOTE(Vinspire @ Jul 28 2013, 02:08 PM)
Is the economy really going down? I heard people telling me the economy is slowing down since 5 yrs ago but yet I still see people buying.

Look at the minion frenzy & look at the que in burger labs for example. If the economy is so bad, then why people still go to expensive fine dining and can afford buying those iphone, s3, s4, s5?
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those queue up and buy are all young ppl still using their parent's $ or they dont have a family to feed.

QUOTE(pisces88 @ Jul 31 2013, 08:48 AM)
a recent property launch showed that 90% units are booked in the 1st week. 600k condo. Mostly bought by young malaysians. Slowdown apa
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low down payment(RM1000~RM5000), free s&p and only start payment after finish construction, sure a lot of ppl buy lah.
try go and see how many of the buyer is over 40, and how many of them are m'sian, how many of them is using their own money not their parent's $ to pay.
i have a lot of frnd buying, most of them are using parent's $

cloudwan0
post Jul 31 2013, 04:31 PM

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QUOTE(pisces88 @ Jul 31 2013, 04:25 PM)
a 20+ year old with savings of 35k should be able to have 1 unit already. most condos nowadays only need less than 30k downpayment.  smile.gif

ur friends very teruk la, use parents money.. or is it the parents use the sons n daughters name to buy? coz can get longer loan, up to 35 years.  icon_idea.gif
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bro, try go and ask all ur frnd who are 20+ see who got more than RM10k+ in bank.
the ans will be lower than 10%
no CC debt consider good edi, still thinking they can have RM10k+ in bank

try calculate how much u need to survive in kl every month and minus the average salary, see how many still left for saving
cloudwan0
post Jul 31 2013, 04:36 PM

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QUOTE(t3arsCulprit @ Jul 31 2013, 04:32 PM)
Those young pipul havent earn money but all go to expendesive restaurant makan.. Swipe credit card but it was a sub card from their parents..

Or should I say mostly young working adults nowadays spend beyond their means??

This is what we call bad financial planning.. I can see their bank account is empty or near empty every end of the month and they have no savings at all..  icon_idea.gif
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totally agree thumbup.gif
if you can access to bank negara system, u will know how many ppl own CC debts and paying the minimum payment
cloudwan0
post Jul 31 2013, 04:37 PM

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QUOTE(t3arsCulprit @ Jul 31 2013, 04:36 PM)
That guy have good financial planning lor.. You thought it is easy to have 35k savings at 20+ of age nowadays??

I bet most young pipul nowadays have 0 savings  laugh.gif
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thumbup.gif
cloudwan0
post Aug 1 2013, 11:47 AM

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QUOTE(pisces88 @ Jul 31 2013, 06:02 PM)
10k+ wor.. i think able save that amount in 1-2 years working?

Maybe most of my close friends in sales line, some in banking sales, some property sales, and brokers.. so their income will be higher than most at our age group..
Yup, not easy to have that saving, but definitely possible  smile.gif 3 years working, save 1k every month, not include bonus yet.. sounds do-able loh  sweat.gif
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bro, are u too innocent.gif or wat?
the problem is not income high or low
the problem is spending, when ur income is high, ur spending will increase also, go to high class restaurant, buy expensive staff, gadget etc
most of my frnd have a same problem, when their saving reach 10k, it is very hard to going up more
bcos their spending will start increase, like going travel, going pub, high class restaurant, buying gadget, change new car, buying dslr and many more

some ppl may still saving, but most will spending.
mayb u are the guy that dont like to spending
cloudwan0
post Aug 1 2013, 12:21 PM

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QUOTE(empyreal @ Aug 1 2013, 12:00 PM)
dont get a car. you'll get your savings right there already.
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tell me how u survive in msia without a car?
cloudwan0
post Aug 1 2013, 12:36 PM

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QUOTE(empyreal @ Aug 1 2013, 12:24 PM)
im surviving without a car. and not because i cant afford it, either.

quite a few other finance people here dont have cars either, which says something.
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bro, dont apply ur special case to every ppl lah
u can survive without a car, mayb u work at home, ur home public transport can reach to ur working place in short time, but most of the ppl are not.
for me if i take public transport to work, it take at least 2 hours to reach office, and also the same to going back and the cost is much more than i buy a car
in kl or bigger city u still have public transport, some small town if u dont have car or motor, sorry u cant go out. there is no any public transport u can take
for example my hometown muar
cloudwan0
post Aug 1 2013, 01:05 PM

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QUOTE(empyreal @ Aug 1 2013, 12:57 PM)
people always take variables such as the place they live and the place they work as constants.

if you choose to live and work in a place that is difficult to get to, then that's all part and parcel of the job you yourself accepted.

when you say that i 'dont apply my special case', perhaps you shouldnt project your own circumstances either, no?
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U tot I don't want to work near my home?
Give u some example
Company A offer rm3k, location near home 10min with public transport
Company B offer rm4.5k, location far from home, 2 hours with public transport or 45min with own vehicle
Whic one u choose? Plus is company hiring not u, u tot u want to work nearby then there is a company nearby offer u ahh
U got a simple life with simple choose but most are not, else who want a difficult life to travel here and there
Plus sometime I need to work at midnight, so how?

This post has been edited by cloudwan0: Aug 1 2013, 01:08 PM
cloudwan0
post Aug 1 2013, 02:06 PM

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QUOTE(empyreal @ Aug 1 2013, 01:23 PM)
then the answer is purely economic - is it worth it?

if the answer is yes, then having a car is just corollary to your work.

and you're still using a variable as a constant - your home. you can move, or rent, the way europeans do, closer to your workplace.

in any case, i've already answered your earlier question of "how can anyone live without a car", didnt i?
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doh.gif, u giving me $ to move the house?
my working area nearby the most cheaper is selling in 600k, my house only can sell in 450k, u give me the extra 150k i move my house.
rental there for a house is around 2k, my monthly payment to my house is only 1.5k
u tot everyone is idiot dont know how to calculate?
u stay in msia, not euro, msia is not a high income country, those europeans can do that, not meaning it can apply to msian
u got a good work good pay, so u dont care about those who are poor, who only have little income,
who dont have own transport, have to travel far away to work and getting good pay, and try to own a transport to cut down the travel time so that can spend more time with family, and try to save $ to move their home more near to working place.

that y rich ppl never understand y normal/poor ppl want to bising when there is a price increase

cloudwan0
post Aug 1 2013, 03:32 PM

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QUOTE(pisces88 @ Aug 1 2013, 02:49 PM)
your friends might not be earning as much as they spend.. they will regret when they touch 30 year old with no significant savings. Majority of my friends in sales line and making enough to go clubs, pubs, change car, eat high class, and still have savings to buy property  blush.gif
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my frnd also earning a lot, they also able to buy a house, as recently buy new launch house no need many dp
but come to reno and buying furniture, they need parents help, as it need at least 20k for that, unless u only need a mattress to sleep only.
try ask ur frnd buy 2nd hand 600k house, see how many of them can do that

i buy a 400k 2nd hand condo last 2 years, it cost me total 110k cash(me and my wife saving), 60k for dp and S&P, and 50k for reno, furniture and house appliances (simple reno only), not much left in bank now, have to start saving again.
so do u think izzit easy to own a house without parents help.
this year need to take out another 10k for strata title
if i dont have a family, i might just rent a room can liao.

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