This is such a good motivation for Gen-Y's ....

Gen-Y here, no commitment but bad in financial management. I wonder where has my money gone to every month, only can save around 30-35% of my salary. In the end, decided to get a car first since it is a cheaper asset (or liability?). Bought one in July with monthly installment - RM 580, cheap cheap only. It is not a fancy car (Saga FLX lol) but at least it is quite decent in helping me to move from one place to another.

Still saving myself as my FAMA is tight themselves, both retirees and waiting for my siblings and I to feed them with monthly allowances. No partner to share my burden.

However, God is treating me really well when I'm so desperate, Company is sending me off for a short assignment in overseas and that could earn me around RM 30k for 2 months (allowances+salary). Though I'll need to endure the coldness (winter) but for my first prop, I will do it!

I'll be going in 10 days time and come back in time for CNY, so I shall start looking for a prop after that. Hopefully I could find one. Unfortunately, I can only look for new props because they always give attractive waivers and lower booking fees. At least, I will have time to accumulate more money when the real time comes, for reno and furniture and other expenditures. Fortunately for me, my bro-in-law is an interior designer and makes furniture himself for his clients. So, I think my sister and he will give me some sponsors in this part. I'm sure he can make me some good looking furniture from his saki-baki materials.

My main issue was the downpayment but I think this should be solved soon with the help of my assignment. Installment is not that bad for me, I think I still can manage from my monthly salary. Just need to cut down on my casual expenses.

So here it goes, I should own my first prop next year. Not for investment, I need a place to stay and don't wish to rent a small little room anymore... I can even accept a studio unit now, apparently wanted a 2-room apartment but I think I was being a bit unrealistic when the props prices are so high in Klang Valley.

This post has been edited by fruitie: Nov 10 2013, 02:25 AM

Good idea. Better idea, offer to stay 1 year. 😎😎😎📈📈📈. Got more 💰💰💰💰

When I was young, I accumulated 💰💰💰 from oversea assignments. It paid for most of my investments

What did you mean by offer to stay 1 year?

I think he meant that by offering to stay 1 year, you will get more $$$ since you mentioned "...Company is sending me off for a short assignment in overseas and that could earn me around RM 30k for 2 months (allowances+salary)..."

For a 2 months stint you get RM30k..therefore for a year you could get RM30kx6 = RM180k

Now I got it, but then it is not as easy as I thought though.
Rest assured, I'll require to travel extensively in the future. Let's see how much I can rake in, in the future.

Good luck

Work overseas. No point in travelling all the time and getting business trip claim/allowance. You'll get bored of it.

agree...

wow.. you're very loaded then..

It's all about planning but yeah, he's quite loaded

This post has been edited by OPT: Nov 12 2013, 11:09 AM

he 's talking 5 years man.. hahahaha.. surely loaded already..

Property buyers to return in 1H14, says CIMB
By Charlotte Chong of theedgemalaysia.com
Thursday, 12 December 2013 12:46
http://www.theedgeproperty.com/news-a-views/11996.html


KUALA LUMPUR: While it believes buying appetite will return to the real estate market in the first half of next year (1H14), CIMB Research continues to be cautious on commercial properties given the existing glut in office space.

CIMB Research analyst Terence Wong said in a report that occupancy for commercial properties in the Klang Valley stood at around 80%. “The situation can deteriorate if significant new supplies come onstream, particularly with the development of numerous mega projects by the government.”

Wong said the harsh measures introduced in Budget 2014 to curb speculation in the property market have caused buyers to take a pause. However, he expects the buying appetite to return in 1H14 on the back of robust demand for residential properties, amid concerns of inflationary pressure from the implementation of the goods and services tax (GST).

The impact of the policy changes by the authorities, though negative in the short term, should be positive over the longer term, as they will help remove froth from segments of the market, he said.

In July, Bank Negara Malaysia capped the maximum housing loan tenure to 35 years instead of 45 years.

Under Budget 2014, the government also raised the real property gains tax and put a stop to the developers’ interest bearing scheme (DIBS). It also increased the minimum purchase price of properties for foreigners from RM500,000 to RM1 million.

“We believe that buying interest should progressively return in 1H14 as potential house buyers come to the realisation that property prices are unlikely to fall and that potential inflationary pressure from the implementation of the GST in April 2015 could push up property prices further.”

According to CIMB Research, buying interest should progressively return in 1H14 as potential house buyers come to the realisation that property prices are unlikely to fall.

CIMB Research has maintained its “overweight” call on the property sector, picking Mah Sing Group Bhd as its preferred property counter, as well as UEM Sunrise Bhd for having the best exposure to Iskandar Malaysia in Johor.

The research firm changed its rating on Mah Sing from “outperform” to “add”.

“Mah Sing remains our top pick for the property sector, with its robust earnings growth, strong sales and active land banking being the potential rerating catalysts,” said Wong.

He said despite the property cooling measures, Mah Sing’s sales should sustain in the fourth quarter of its financial year 2013 ending Dec 31 as its new flagship township, the RM5.13 billion Southville project in Bangi, has already been launched and is enjoying strong interest.

“We believe that Mah Sing will be able to weather any slowdown well as most of its projects do not offer DIBS.”

Wong added that the company should be able to achieve its financial target as its landbanking efforts in 2013 have been strong. During the year, it acquired five pieces of land (three in the Klang Valley and one each in Johor and Sabah) costing RM841 million, with potential gross development value of RM8.9 billion.


This article first appeared in The Edge Financial Daily, on December 12, 2013.

Buy house nobody know....buy car can be seen by everyone

Im vr surprise to see some Gen-Y willing to pay 1.5K for car installment...9 years

bad influence

Gen y should buy houses first. In 5 years time, the car can be "free"

Most gen y ll buy car 1st. Cost facey ma.

House where can kau ah moi, only vios can do that.l..

Huh? Only Vios can kau ah moi ared? I dono man, my ah moi need at least VW Golf

Ur amoi high keras wan....most other amoi vios is the minimum entry requirement, enough dy....l..

Vios also can kao lui..