You can and should start investing with as little as RM3K per transaction, ideally, the fees would be most efficiently utilised with RM7K - RM8K transactions.

However, a majority of people just keep on procrastinating and end up not invsting until very late in life. I suggest you start right away at RM3K and reinvest those dividends. I'm a dividend lover myself but you gota do your homework as well. Don't just chase high yield stocks without knowing the company first.

Start building your passive income (dividends) now. You're very young and with time and the magic of compounding on your side, you'll be able to be financially free faster than most people.

I own 2 properties myself with rentals in the region of RM700-750 so I hope my input is of help.
First of, my said properties are low cost apartments, if yours is as well, no one renting a low cost apartment will fork out a 6 month deposit for you.

However, if it is a medium cost studio apartment or something, you might be able to work out your proposed 6 month deposit deal. The market is a willing seller - willing buyer world. It'll still be very very tough, even well to do tenants won't wana risk RM4-5K on a unit. You might find yourself unable to find a tenant and that will set u back. My advise is go for the market rate and collect your 2 month deposit, if you're hardworking, act as your own agent and collect 2+1?

I already read your blog and interested doing things like you. Can you give some guide on investing high dividend stock? Fyi i already have CDS account and buy some stock for experiment..but things not doing well. Btw thank you for your advice

Hmm.. why did you buy those stocks? What was the basis for your decision.

Maybe you can start by shortlisting a few companies you like, read up on their annual report and financial statements.

Maybank are giving handsome dividend every year, about 6-8%.
But must buy at price of rm8-8.50, else the dividend yield will be diluted.
Still do your own homework.
If you want to hit and run to make fast money, penny stocks that get their name listed on top 10 active counters. Waiting for dividend, bluechips but requires more homework. Need to know when is their lowest price(trending matters) and highest(to avoid buying on this time).

Hey folks,

Need some financial advise here.

I just received my bonus and net amount is RM11,000

I was thinking to pay some of my credit card debts.

Maybank RM20,000
CIMB RM12,000
Citibank RM12,000

Do you think I should just pay off one CC or I pay 40% for MBB, 30% for CIMB, and 30% for CITI?

Please advise me on this

which of the 3 charged you the most interest rate?

hmm Maybank charge the most interest rate.

then why not pay off the one with the highest interest rate first?
why do you want to pay partially for the 3 cards instead of paying the one which is charging you the most int rate?
may i know why?

I was thinking to reduce the outstanding amount of other cc too.

also, if I take personal loan RM50,000 for 5 or 7 years, how much should I pay monthly to pay back the loan? would it be below 3k?

Like for those 3 cc in a month I will spend almost 3k (1000 each card but as for citibank it does not reduce the amount because I have monthly deduction of 1000 each month like insurance, astro, internet)

try google personal loan calculator for a "guide" on the amount to repay....

actually the other forummer is asking which bank charging you higher interest rate. cause in terms of amount, of course maybank is higher

Try to clear off one credit card first.

reason being... if you clear off one card already, that card can be used for your normal expenses without incurring interest. So based on what you have commented, you should really clear off your citibank first. ASAP. your monthly bills doesn't sound like a small amount.

then stop using maybank and cimb. AND MAKE SURE you pay-off in full for citibank after this.

As for your cimb and mbb, there are few options, that you can consider, provided you are discipline enough and provided you have done the calculations and make sure you do get savings in interest.

You can do balance transfer or last step, personal loan... but provided
1) you do save interest
2) you are discipline in repaying the personal loan AND
3) you can reduce the tenure of that personal loan...

but personal loan is still not recommended...

Insurance, Astro and internet are a waste to begin with
Taking another loan to cover debt are good way to make your self poorer.

Ur credit limit must be very high, so ur income ? Wondering how to able accumulate near to rm 45 k debt , anyway I think you shall pay off one card, bt another one to it, cut off unnecessary expenses such as astro, board band, else you will never ending feeding bank with dig another hole with personal loan, bank will very happy

.

This post has been edited by aromachong: Nov 3 2016, 04:12 PM

Which is why we can see bankruptcy cases increase year by year. Good to see youngsters nowadays prefer debts

This 2 statements basically are very wrong.
If I were to spend rm100k, I shall have rm200k up front.
Balance transfer are a method to sweep dust below the carpet, if you are seeing bad debts amount are increasing, you shall start review your wastage, not look for "free" interest installment plans, say you have rm10k of bad debts due to wastage(every month are rm1000), you get an installment plan that you have to pay rm1000 a month but still refuse to review the wastage. Your ongoing wastage will roll also, installment plan for rm1000 + rm1000 of ongoing wastage but you can only afford to pay rm1100, so you will start building up another round of bad debt of rm900.

This year till now government still being a coward on telling the actual numbers

personal preferences. again i will swipe 200k when i have 200k cash in hand and make sure i am able to clear all outstanding when the statement generated.

credit card interests fee VS balance transfer fee (that as if he cannot get any idea how to settle it and no one able to borrow his money) - this is a temporarily relief says for 6 months and TS might settle it in 6 months when he got the money, who knows? it's not good to see high interest for CC keep rolling. There are banks which offer BT for 0%, so why not?

Last resort, AKPK's door is always open for TS

The fact from government already stated clearly you are wrong
From old timer's advise : using another loan to cover loan are very bad

Background:

I just graduated. Waiting for my turn to be a government servant in 2-3 months' time (or longer than that, who knows?). Currently working in a commission based company. First month of working raked a healthy 10k+ salary. (no bs) Second month around 3k+ and it's only mid of April.

Problem:

I don't have my own transport to work. My mum would need to get up early to send me to work which I feel it's a bit tiring for her. And sometimes she will have things to settle and in the end I'll be late for work. She doesn't allow my to drive her car. I was thinking to get a 40k+ car for the time being. Previously I tried to apply for loan with my mum as my guarantor but it wouldn't go through as her business is kinda bad these few years.

Question:

1. What should I do? Unless I earn another 20-30k (factoring in car price, maintenance, emergency etc) to buy the car in cash, I will need to take loan.

2. Can I take personal loan for used car?

3. I can try applying a car loan under my own name but I was told that I need 6 months payslip since my job currently is commission based.

I'm planning to get the car before I start working with the government cos by then I'll be too busy to even view the car I'm about to buy!

Please advise.