get a PA insurance & a rain coat....
I am doing that too...to beat traffic jam, ease of buying small things and get home faster too.
reduce green gas too.

Why not both? I got that part covered already.

What is PA insurance?
And yes, I'm looking forward to be able to weave through traffic! Currently, it takes me 1 hour+ to go to work. Stupid LDP jam.

should be Personal accident insurance plan
sort of this for example....
https://www.aia.com.my/en/our-products/acci...versary-pa.html

Looks like I already got myself one then.

then you are all set to go...

Just for your consideration:

Insurance can cover our hospital cost or funeral, but won't give back a lost hand or foot or worse our earning power or life.

Money vs time savings analysis doesn't analyse lives or lifestyle. Once lost you cannot regain back.

This post has been edited by Benster124: Jan 14 2017, 02:23 PM

U get the 2nd hand motor just few months u will recover most of the cost from petrol, parking, time, toll, maintenance.

Good points. I will still use the car for other travels. I'm just using the bike to travel to work. Planning to just ride slowly to work and stay on the left lane. I'll give it a try for a month to see if it's suitable for me.

The simple asset allocation of 1/3 in Fixed Income or Reserves seems sound based on the data of -ve vs +ve yearly returns of the S&P500, where 1/3 of the time it is -ve return

The $ in fixed income useful to buy lelong/cheap AND/OR tide one over during the down years.

http://www.mymoneyblog.com/sp-500-histogra...al-returns.html

I am using 100 - my age for the %
We can take more risk
when we are young

unknown to what loan....
I googled and found this...hope can it helps...
https://www.google.com/?gws_rd=ssl#q=loan+c...aysia&*&spf=729

What type of loan you referring to? If you can provide the loan amount and the interest charge, then it can be calculated, thanks!

Hi,

I need your opinion.

My salary net is 5.5k
and below are my commitments

Few CC total outstanding is RM50,000
Personal loan outstanding is RM40,000

Those commitments make me pay every month around RM3460

Apart from that I have house loan monthly is RM1912 (just started pay)
and car loan RM700 (around 4 years to go) balance is RM39,000

I would like to lower down my monthly commitment how can I do so? I can’t apply another loan as my commitment is very high.

Luckily my wife is working but can’t get loan under her name as she is from the Philippine. Her salary after epf and tax is around 3.5K.

Since I can get any loan with lower interest to pay those CCs and PLs, should I go to AKPK? what are consequences if I go to AKPK? or should I talk to those banks first?

Please advise me. Thanks.

Where is ur expenses breakdown? with that easier for others to help u.

monthly expenses

cc 1: RM700
cc 2: RM800
cc 3: RM500
PL1: RM800
PL2: RM360
car loan: RM700
house: RM1912 (not yet ready)

don't count wife's money cos i am on my own for all these commitments as I got this before i married her.

hence why need help to minimize the monthly commitment that I have

Ur credit card repayment is based on 18% finance charges per annum or under repayment scheme with much lower interest? May be still got chance for u to extend the repayment duration for settlement of capital owing and reduce the interest charges.

Since u got house, any chance for u to apply epf account 2 withdrawal as monthly repayment or downpayment for your house?

Btw, husband and wife should work out together to solve the financial problem. Once married ur problem will also become ur partner problem, ur condition at least still can to improve via ur wife assistant.

it still under 18%. i will try to go to those cc banks and get lower interest rate if possible.

i really hope so bro but wife is not cooperative at all and beside she has to send some of the money back to PH to give to her parents and siblings.

Ur credit card is the killer here. If I calculate this right,if the amount of cc 1 2 3 is min payment then total outstanding for all is +-40k.

Mann.... this is sky high bro. What did u spend bro? Sleep at golden hotel? Eat golden rice in golden resraurant?lol

For this case, u cannot do Balance Transfer.

Heres how. Hope this works. Knowing that u will pay 1.9k for house using ur salary. I suggest u go EPF withdraw ACC 2 for monthly installment up to 12months.
Roughly bout 23k. And park that 23k to ur housing account. Note!! DONT wrongly say i wanna pay for 12months installment. Tell the bank (home finansier) to park that money in advance payment/bucket. So later bank will eat 1.9k from the bucket for 12months.

Now, the 1.9k that u have from the salary, pay it to the cheapest CC 1st (cc 3) until RM0.00 and cancel it (cut it). Cc1&2: continue pay the minimum payment as usual. After cc3 already cut then, pay the 2nd lower (cc1) and cut it.

for 3rd card, then only u can do BT. Many bank offer 0% interest fee for 12months nowadays. So, do it onto ur cc3.

Wife must give ur support and encourage. Its fine if she dont want to give money help u pay. But at least she help in buying groceries...

thanks for your input bro! yeah I have tried to withdraw money from EPF but since the house is not ready yet so when the bank issue the letter it still stated "not yet performing full amount" and EPF wont disburse anything until they see the full installment started. gotta wait for another few months. once I got the money from EPF to pay monthly installment of the house, i will use that 1912 to pay one of the credit card till it 0.