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> Personal Financial Management V3, It's all about managing your $$$

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ruben7389
post Feb 9 2019, 11:27 PM

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instead of cash Withdrawal via credit card why not Withdraw these funds via bigpay/boost at merely 0.15% transaction cost while stretching repayments to even 18 months at zero interest?

This post has been edited by ruben7389: Feb 9 2019, 11:28 PM
coolguy99
post Feb 10 2019, 07:49 AM

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QUOTE(ruben7389 @ Feb 9 2019, 11:27 PM)
instead of cash Withdrawal via credit card why not Withdraw these funds via bigpay/boost at merely 0.15% transaction cost while stretching repayments to even 18 months at zero interest?
*
Repayments are still being done to credit card companies. You can’t withdraw more than what you have in bp.
ruben7389
post Feb 10 2019, 08:49 AM

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QUOTE(coolguy99 @ Feb 10 2019, 07:49 AM)
Repayments are still being done to credit card companies. You can’t withdraw more than what you have in bp.
*
Yeah but repayments can still be played around with 0% Balance transfers using certain other credit cards.

Withdrawals BP 10k and boost 4.5K per month totals 14.5k per month. Use Spouse, father and mother BP and boost also so can actually withdraw 14.5K x4 per month or 58K monthly
digimon09
post Feb 11 2019, 11:54 AM

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QUOTE(ruben7389 @ Feb 10 2019, 08:49 AM)
Yeah but repayments can still be played around with 0% Balance transfers using certain other credit cards.

Withdrawals BP 10k and boost 4.5K per month totals 14.5k per month. Use Spouse, father and mother BP and boost also so can actually withdraw 14.5K x4 per month or 58K monthly
*
Hehe, that should be good reference... smile.gif
alien9
post Feb 11 2019, 03:33 PM

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QUOTE(ruben7389 @ Feb 9 2019, 11:27 PM)
instead of cash Withdrawal via credit card why not Withdraw these funds via bigpay/boost at merely 0.15% transaction cost while stretching repayments to even 18 months at zero interest?
*
So If I'm using Maybank CC, I can reload the BigPay card and then do an installment for the amount of reload?

Added: Found out that Maybank EzyPay Plus have a 9% interest charge. What CC card have zero interest to stretch the payment?

This post has been edited by alien9: Feb 11 2019, 03:48 PM
ruben7389
post Feb 11 2019, 10:13 PM

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QUOTE(alien9 @ Feb 11 2019, 03:33 PM)
So If I'm using Maybank CC, I can reload the BigPay card and then do an installment for the amount of reload?

Added: Found out that Maybank EzyPay Plus have a 9% interest charge. What CC card have zero interest to stretch the payment?
*
I use public bank quantum MasterCard. I get 5% for reloading into bigpay as cashback up to rm30 plus I can stretch all transactions rm1200 and above to 12 months interest free instalments
~Curious~
post Feb 27 2019, 11:49 AM

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hi,im sorta a dummy to this.
previously i nvr seriously kept track of my expenditure vs income, that's all gotta change today onwards.
can someone recommend me a good app to use to track my finances,or would a regular excel sheet juz do?

yklooi
post Feb 27 2019, 12:00 PM

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These worked perfectly well when I first started....
light, small and ease of use and on the spot recording is possible


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wongmunkeong
post Feb 27 2019, 12:49 PM

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QUOTE(yklooi @ Feb 27 2019, 12:00 PM)
These worked perfectly well when I first started....
light, small and ease of use and on the spot recording is possible
*
hhehe - simplest & uncomplicated is usually the best.
but some folks may not be able to stomach the non-techieness or upscale-levelness laugh.gif

personally, i use a basic spreadsheet - for sure cannot have application issue or death and data useless in future, when i need to compare/analyze.
alexkos
post Feb 27 2019, 07:46 PM

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QUOTE(yklooi @ Feb 27 2019, 12:00 PM)
These worked perfectly well when I first started....
light, small and ease of use and on the spot recording is possible
*
ni bang cite Swedroe, fan Jack Bogle ke?
yklooi
post Feb 27 2019, 08:40 PM

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QUOTE(alexkos @ Feb 27 2019, 07:46 PM)
ni bang cite Swedroe, fan Jack Bogle ke?
*
They used 555 too?
that is incredible....
roarus
post Feb 28 2019, 04:21 PM

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QUOTE(~Curious~ @ Feb 27 2019, 11:49 AM)
hi,im sorta a dummy to this.
previously i nvr seriously kept track of my expenditure vs income, that's all gotta change today onwards.
can someone recommend me a good app to use to track my finances,or would a regular excel sheet juz do?
*
I used Money Lover when I got started. For the few initial months I tracked where my money was going and next determined where I can cut. You may find it good/annoying because it reminds you at 8pm daily if you have not made any expense entries.

*Note: I'm not app author or linked to app developer company

Android Play Store
iOS App Store
~Curious~
post Mar 1 2019, 10:26 AM

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QUOTE(yklooi @ Feb 27 2019, 12:00 PM)
These worked perfectly well when I first started....
light, small and ease of use and on the spot recording is possible
*
haha..i prefer not to use paper,not so green..hehe....

QUOTE(roarus @ Feb 28 2019, 04:21 PM)
I used Money Lover when I got started. For the few initial months I tracked where my money was going and next determined where I can cut. You may find it good/annoying because it reminds you at 8pm daily if you have not made any expense entries.

*Note: I'm not app author or linked to app developer company

Android Play Store
iOS App Store
*
alright thanks.i'll give the app a try.
af_1993
post Mar 1 2019, 01:52 PM

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Hi guys would love to get your advice on my personal finance.

Age 26
Gross salary RM3380

Investments
Asb loan - RM150k (monthly RM813) - now dividend more than RM10k
Tabung haji - RM100 monthly (less RM2k)
Unit trust - RM500 (just started - will practise DCA)
Stashaway - RM100 (initial deposit)

Expenses roughly
Housing loan - RM1320 - house still under construction, another 4 years to complete -- so i havent paid full installment yet
Food RM500
Transport RM200
Rental RM500
Misc RM200-300
Parent RM100

So now i was thinking of purchasing reit stocks which i want o allocate RM2k (taken from bonus) for that as a start. I feel like im rushing with my investment

What do you guys think?

coolguy99
post Mar 1 2019, 08:00 PM

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QUOTE(af_1993 @ Mar 1 2019, 01:52 PM)
Hi guys would love to get your advice on my personal finance.

Age 26
Gross salary RM3380

Investments
Asb loan - RM150k (monthly RM813) - now dividend more than RM10k
Tabung haji - RM100 monthly (less RM2k)
Unit trust - RM500 (just started - will practise DCA)
Stashaway - RM100 (initial deposit)

Expenses roughly
Housing loan - RM1320 - house still under  construction, another 4 years to complete -- so i havent paid full installment yet
Food RM500
Transport RM200
Rental RM500
Misc RM200-300
Parent RM100

So now i was thinking of purchasing reit stocks which i want o allocate RM2k (taken from bonus) for that as a start. I feel like im rushing with my investment

What do you guys think?
*
It’s better to start investing as young as possible. But do it within your means and don’t overstretch yourself.
l4nc3k
post Mar 1 2019, 10:26 PM

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QUOTE(af_1993 @ Mar 1 2019, 01:52 PM)
Hi guys would love to get your advice on my personal finance.

Age 26
Gross salary RM3380

Investments
Asb loan - RM150k (monthly RM813) - now dividend more than RM10k
Tabung haji - RM100 monthly (less RM2k)
Unit trust - RM500 (just started - will practise DCA)
Stashaway - RM100 (initial deposit)

Expenses roughly
Housing loan - RM1320 - house still under  construction, another 4 years to complete -- so i havent paid full installment yet
Food RM500
Transport RM200
Rental RM500
Misc RM200-300
Parent RM100

So now i was thinking of purchasing reit stocks which i want o allocate RM2k (taken from bonus) for that as a start. I feel like im rushing with my investment

What do you guys think?
*
Just my personal opinion - with your income you should probably pick only 2-3 instruments and focus on them.

Nothing wrong with funds and stashaway (I’m personally using them too), and you already start investing in properties already so thats a good start. You also have ASB loan (forced savings/investments). But before you start investing anywhere else, its probably a good idea to max out your ASB allocation (200k+200k)

My take on stocks is to dump 7k-8k one shot depending on which broker you using to minimize transaction fees. Also there are better ways to invest in S&P ETF other than stashaway, link here https://forum.lowyat.net/topic/4744515

Just my two cents overall. But bottom line is, its great to start investing earlier 👍🏻
saintmikal
post Mar 1 2019, 10:41 PM

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QUOTE(af_1993 @ Mar 1 2019, 01:52 PM)
Hi guys would love to get your advice on my personal finance.

Age 26
Gross salary RM3380

Investments
Asb loan - RM150k (monthly RM813) - now dividend more than RM10k
Tabung haji - RM100 monthly (less RM2k)
Unit trust - RM500 (just started - will practise DCA)
Stashaway - RM100 (initial deposit)

Expenses roughly
Housing loan - RM1320 - house still under  construction, another 4 years to complete -- so i havent paid full installment yet
Food RM500
Transport RM200
Rental RM500
Misc RM200-300
Parent RM100

So now i was thinking of purchasing reit stocks which i want o allocate RM2k (taken from bonus) for that as a start. I feel like im rushing with my investment

What do you guys think?
*
Looks like a few things missing.

Top of the key...pay yourself first (Savings!)...rainy days are important to buffer for
Second, where is your protection a.k.a Insurance (Life, Medical, Critical Illness)


af_1993
post Mar 2 2019, 01:47 PM

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QUOTE(l4nc3k @ Mar 1 2019, 10:26 PM)
Just my personal opinion - with your income you should probably pick only 2-3 instruments and focus on them.

Nothing wrong with funds and stashaway (I’m personally using them too), and you already start investing in properties already so thats a good start. You also have ASB loan (forced savings/investments). But before you start investing anywhere else, its probably a good idea to max out your ASB allocation (200k+200k)

My take on stocks is to dump 7k-8k one shot depending on which broker you using to minimize transaction fees. Also there are better ways to invest in S&P ETF other than stashaway, link here https://forum.lowyat.net/topic/4744515

Just my two cents overall. But bottom line is, its great to start investing earlier 👍🏻
*
You're right. I have maximized my asb so only left me with asb2. The return is quite good maybe i should opt this first.
af_1993
post Mar 2 2019, 01:48 PM

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QUOTE(saintmikal @ Mar 1 2019, 10:41 PM)
Looks like a few things missing.

Top of the key...pay yourself first (Savings!)...rainy days are important to buffer for
Second, where is your protection a.k.a Insurance (Life, Medical, Critical Illness)
*
I have medical insurance. My mom has taken it for me since i was a kid so its time i guess to review the policy
55665566
post Mar 4 2019, 09:18 AM

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QUOTE(af_1993 @ Mar 1 2019, 01:52 PM)
Hi guys would love to get your advice on my personal finance.

Age 26
Gross salary RM3380

Investments
Asb loan - RM150k (monthly RM813) - now dividend more than RM10k
Tabung haji - RM100 monthly (less RM2k)
Unit trust - RM500 (just started - will practise DCA)
Stashaway - RM100 (initial deposit)

Expenses roughly
Housing loan - RM1320 - house still under  construction, another 4 years to complete -- so i havent paid full installment yet
Food RM500
Transport RM200
Rental RM500
Misc RM200-300
Parent RM100

So now i was thinking of purchasing reit stocks which i want o allocate RM2k (taken from bonus) for that as a start. I feel like im rushing with my investment

What do you guys think?
*
I was thinking, at your salary range and your commitment, I don't really think buying the house @ RM1320 mortgage seems making sense. You also mentioned that it is not full amount omg. Guess someday your balance sheet will crash into something. I may be wrong here hmm

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