Cause no one needs advise?

Simple. Rich dad poor dad book, Gen-X blog, early + stress free retirement, the will to show off to friends that you are better than them when retirement age comes around (suffer now - don't party, hang out high class places, kau lui, don't buy branded clothes so that you can see them working while you are not working later on )

All food oyster, lobster, salmon, sushi, cavier, italian food, japanese food, korean food turns into SHIT. Nothing turns into gold.
I second wongmunkeong. My main priority is early retirement in style. Food and cars bleh.
One way is learn how to cook those fancy food. That's what my friend do. He love food but rather than splurge on food, he learn to cook those meal. So now he can eat those everyday without breaking the bank.
He told me if I go out and eat steak, it will cost me about RM100 for small amount. I cook myself only RM20 like that and I can eat to my heart content.

This post has been edited by Ramjade: Aug 18 2016, 11:45 AM

Not to burst your bubble but those kind of stuff from banks usually give you +- FD rates. There are exception where they really give 7-8%. Those are bonds which aim at people who are loaded.

Take loan buy car, go for vocation, buy birkin

Of course la. As I said long time ago, never hand them ready money as they will never appreciate it. Hand them ready money, be prepared to watch them spend it all away. Why? They never learn the value of money.

Make them work for it. Then only they will appreciate it and want it. If they never tasted hard life, they will think ah, for what want to learn so much/manage this and that when I have ready money waiting for me. Make them work for it and you will see the difference.

That's normal human nature. That's why there is a Chinese saying, money never last more than 3 generations.

This post has been edited by Ramjade: Nov 3 2017, 01:50 PM

1. Always spend less than what you earn.
2. Save min 50% of your pay and then only start spending.
3. Do not let life style inflation get to your head
4. Do not let peer pressure get to you.
5. Maximise tax relief so you pay less tax
-every tax you don't pay is a RM you get to keep.
6. Use proper cash back credit cards. Don't get conned by bank ads.

Read this guy blog. He may be writing in terms of Singapore context but it's still applicable to us Malaysian. He have lots of articles for those starting out (you can see his must read articles on your right side)
ASSI
I read his blogs as I invest in SG.

Regarding putting money into EPF, ask yourself
1) can you earn 6% risk free money on your own?
- the only risk we have is devaluation of our RM and financial health of our Malaysian govt
2) Do you prefer govt to work for you or you work alone?

For me personally, I won't put more than RM6k/year (max amount for income tax). RM6k is including those compulsory deductions. Should the amount does not exceed RM6k, I will topup to make it RM6k

This post has been edited by Ramjade: Feb 16 2018, 11:13 PM

The RM6k is if your compulsory contribution does not reach RM6k. If compulsory contribution > RM6k, you cannot do anything also.

Yes. Pack your own lunch. I always pack wholemeal sandwiches to work as it's more filling than rice.
- wholemeal massimo bread (yellow plastic)
- scramble eggs/tuna/sardine
- plenty of lettuce/cucumber
- coconut oil + extra virgin olive oil.
Check and see if your company provide free food, if yes, eat those instead.

The morning G before or else scared cannot tahan.

Know what you want. Set your goal to it. Research and do homework. Always.

This post has been edited by Ramjade: Feb 21 2018, 09:23 AM

Ignore. Typo. Never let lifestyle/peer pressure inflation gets to you. Know what is the difference between needs and wants.
Learn how to get things for cheap as every dollar save (eg. Bundle clothing/preloved clothes are value for money. RM1, you can buy good condition (looks exactly like new/in store)
branded clothes which easily cost RMXXX) = a dollar available for investing.

This post has been edited by Ramjade: Feb 21 2018, 10:25 AM

Love travelling aboard.
That's your first mistake. Try restricting yourself from travelling abroad and see how much extra can you save.

Looks like you don't know what you are buying.
Investment is something which you need to be ready. If you not ready or regret or cannot sleep because of your investment, it means
1) amount you put in is too big
2) you are making losses
Sometimes the best investment is the simplest. Try going for simple and decent returns like amanah saham fixed price fund. Every year more or less get min 6% and your capital is kind of guaranteed. Don't go for the variable price fund.
With all investment, always know what you are investing into. Invest in books and knowledge.

If you don't have enough saving, what's stopping you from saving more rather than travelling abroad? If your car keepnbrraking down, then yes can think of changing. If not, just use the same car. A car is to keep you from point A to B. Nothing more. The moment you drive the car out of the shop, the price decreases.

Settle one a time first. Recommend you settle the PL first. I don't know what you took up for personal loan first. But I hope for your sake it's not for going on holiday, buying the latest tech.

Remember, you can't gave everything. You need to sacrifice something to get something.

I sacrifice overseas holidays and I choose to live frugally so that I can sleep better knowing that my bank account is fat enough to last me through difficult times. The choice is yours. One needs discipline if you want to have more money. Giving in to temptation will just slow you down.

3 months is not enough. Aim for 6 months.
Never ever take a new loan to settle old loan.
This is because if you are already have a loan, is like you are standing in a hole. By taking on new loan to pay off the old loan, you are digging a deeper hole which means sooner or later you can get out of the hole you dug.
Never get a new car as car is a depreciating item. The moment you drive the car out of the shop regardless of brand, the price already drop.

Never get tempted. That's why if you have no discipline when it come to money, you will keep getting yourself into a big hole of shit.

The most simple answer. Buying properties. No way regular folks can fork out RM500 to buy a property, so you take loan. That's leverage.

Another example you have RM10k
Without borrowing money, you can only buy say 10K of stock if it's price at RM1/shares.
But you can borrow from your broker say another RM10k.
Now you can buy 20k shares. If the share price increase to RM1.10 and you sell, you pocketed RM2000 (RM1k from your own pocket, another RM1k from the broker. Vice versa can happen to. If it drop to RM0.90, you have made RM2k loss.

Next way is call shorting. You borrow 10k of stocks at RM1/share. You agree to pay back the stock BROKER 10k share. You expect price to fall. You sell the stock at RM1/share. Pocketing RM10k. Price drop to RM0.90/share. You can now buy back the share at RM0.90 and sell back to the broker 10k worth of share as promised.

I am not sifu but let me ask you a question.
Why put FD when amanah saham function exactly the same?
Emergency fund means you need access to it on weekends and public holiday.
Both FD and amanah saham can't be access via public holidays or weekends.

FD max 4.5%
Lock up your money depending on your term.
Principal is guaranteed by bank.
You forfeit the interest if you withdraw early.

Amanah saham fixed price fund min 6%.
Money not lock up.
Principal is pseudo guaranteed as you buy and sell at RM1/unit. You can't sell below/above RM1
You don't forfeit returns if with draw early.

Forget FD and dump your money into amanah saham fixed price fund. Don't get conned by banks trying to sell you variable price fund.

I know I did not regret it.

I am not sifu but let me ask you a question.
Why put FD when amanah saham function exactly the same?
Emergency fund means you need access to it on weekends and public holiday.
Both FD and amanah saham can't be access via public holidays or weekends.

FD max 4.5%
Lock up your money depending on your term.
Principal is guaranteed by bank.
You forfeit the interest if you withdraw early.

Amanah saham fixed price fund min 6%.
Money not lock up.
Principal is pseudo guaranteed as you buy and sell at RM1/unit. You can't sell below/above RM1
You don't forfeit returns if with draw early.

Forget FD and dump your money into amanah saham fixed price fund. Don't get conned by banks trying to sell you variable price fund.

I know I did not regret it.

Take out and forfeit the interest? No thank you. Ocbc 360. Phillip money market (Phillip only available on weekdays only)
There's this plastic thing call credit card where your limit is high and it can function well. Of course you must have the cash behind it to use it. They give you 21 days to pay up. More than enough if you have money in like amanah saham. Not enough if you are broke.

First rule of credit card is make sure you have cash to pay.

I keep only 1-2 months expenses with me in real liquid cash in ocbc 360 where I can access anytime I want. Rest just Taruh in amanah saham.

Of course I have move on from amanah saham.

This post has been edited by Ramjade: Dec 28 2018, 05:46 PM

Not if the place you need to pay cash doesn't accept CC.

Not if you pay back on time.

Mana I tahu ada fees. Thought is just normal payment few days later.

Then go for ASM1,2,3