Never thought I could save this much, I just took the ASB loan just for force saving by monthly cut off. Consistently save 3-4k sometimes 5 per month in saving account, now I'm kinda puzzle by what should I do with this fund. Do you think its a good idea by putting all fund in ASB, and use the dividend to pay for property monthly? I'm looking forward to buy property but need a lot of homework and considerations. Also I need to find at least 10-15% down payment to make this happen. Thats why I'm looking any advice from any sifu here

Buy a constructing property where has rebate thus u don’t need to put 10-15 percent unless u are aiming for subsale product.

I'm aged 33 currently and working in office.

Gross salary RM 2300
Side income around RM 30K per month

Monthly expenses (Food, groceries, work related etc) RM 600
Parent RM 2000 (depends on what they need, i will buy for them)
Rental RM 0 (stay with family)
Car loan RM 810 (left 3.5 years more to settle)
House RM 800K (current value, fully paid. Im inherited from my parents)
Insurance RM 110
Phone RM 45
Internet RM 60
Electric RM 0 (my parents pay)
PTPTN Loan RM 0 (my parents settle all RM 11K loan)
ASNB Loan I max up to RM 200,000 (RM1000 per month I paid) roughly. Starting pay early this year.

Above are my total expenses.

As for my saving, I managed to save up to RM 240K in a ASNB

also cash on hand RM 4000 (in bank saving acc)

as for EPF around RM 50K

Currently my status still single, already knew one girl.. same age with me and she work as HOD.

im planning to buy my own house, apartment.. or maybe u guys got better idea. no need to buy house since i already got house inherited. Tq

if i have these income, it would not be a problem buying a property (unless it is a multi million tag range)

the house around RM 250K to 275K max, i maybe will buy it cash. Since my salary kinda low and my monthly commitment almost same with my salary

with that cashflow,.....then don't buy a new property since you already has one

btw,...your Side income around RM 30K per month or just RM3k per month?
(I assumed it is RM3k per month)

This post has been edited by yklooi: Feb 9 2020, 10:43 AM

Side income its 30K per month. Maybe if like that will settle down my car loan left around RM 33K only. Free the monthly cash flow.

If you can earn side income over 10x of your gross salary, you should just quit your full time job and focus on the side income instead.

Unless your current job is somehow related to your side income.

30k per month... Why not just focus on your side income and leave your job.. you will probably get even more

Yes u are correct about that, but this job is will always make remember money its hard to get. And its look kinda wierd for person that dont work. Later the girl also will feel wierd if i dont go work

i still can do both together . its not effect my current office jobs

with that total income,...

save that income for 10 months,...then buy cash, why need to pay interest to the bank for that housing loan and extra lawyer fees?
then by that time, your car loan will be next to clear already....

(unless that side income are not reflected in your income tax)

Yeah, the side income still need to be declared, if not cant buy house

fantastic if side income is 30k. everyones dream.

yup, but its not easy to be there. must always think and planning for future outcome.

This post has been edited by ixaRA: Feb 9 2020, 04:24 PM

good that you managed to get RM30k per month of side income in less than 2 months.
(Dec 2019 postings does not mention the available of this 30k income)
Great effort you got there.

Yea wo..

I would quit my job in a heartbeat and focus fully on my business.

I just wonder what holding he back for doing his own thing.

Last year when I get an opportunity to start my own thing, I immediately resign that month. Opportunity does not always come but once it comes one must be able to recognize it and take the opportunity.

thank you very much, yes meant you follow my previous posts

this job is what my parents wanted. its not easy to get this jobs. so many apply for it

side income 30k