Too shy to do PM... but maybe you can help with this quick question: In your line of work (I'm think you are a loan officer or a bank staff, apology if mistaken), those that seek personal loans are mainly those:
a) people who think personal loans will aid their personal financing troubles, or
b) people who were already facing personal financing mismanagement?
c) none of the above, your view?

i want to borrow personal loan around 7 to 10k..
Salary only 1.9K.. now still got 2 loan i need to pay..
Pm me plz detail..

i think it is better that you guys seeking for personal loan or promoting personal loan to go to the personal loan thread. This thread is more to discussing personal financial/money management and ways to improve it.

U know a country's going to hell when most of their population thinks more loans = solution to $ problems

Wong sifu, any comments on the recent opr hike?

OPR hike? good for savers & investors
why?
Savers:
FD, savings, mortgages (especially those chunking $ into flexi mortgages)

Investors:
bad for Equities & REITs?
er.. not really coz in this day & age,
IF bad (just a low hike in OPR mar) in MY,
we can always go buy SG, US, AU, EU, CH equities online AND maybe with "stronger RM conversion" (ie. better exchange rate)

no crystal balls yar heheh - just continue executing one's plans & monitoring / adjusting course a bit a bit where needed.

This post has been edited by wongmunkeong: Jul 12 2014, 08:55 AM

Hi advise needed,

Currently my portfolio, I'm 33 yrs old.
2 prop in kl.
1) 1st gng landed prop own stay fully paid acquire at year 2006.
2) 2nd prop service apartment acquire at year 2012, 10% down, 40% cash on hand in Malaysia fd. (under construction dibs scheme) - for rental income.

Income
1) Annual around RM 250k - 300k, monthly around RM15k (in sg)
2) Some shares around RM50k(slow growing sum montly) at 5% dividend.

Expenses
1) Tax monthly RM 2600, rental RM 2000,
2) Wife RM 2500,
3) Parents RM 1200.
4) Personal expenses around RM 2000

I'm thinking of leaving sg and move back to Malaysia once I fully paid my 2nd prop as wife just pregnant. Due unable to acquire property in sg and dislike the concept of living in bird cage.

If in Malaysia,

Income expected:
1) Annual income after tax around RM120k
2) Monthly around RM10k.
3) Expected rental income around RM2.5k

Expenses expected:
1) Wife RM 2k
2) Baby RM 1k
3) Parents RM 1.2k
4) Personal expenses RM 2k

I totally do not have any ideas on how to survive in Malaysia as I work in Singapore once graduate. Besides my wife constantly nagging why need to stay small rented flat, since we have baby coming soon. Shall I stay or shall I move back to Malaysia?

This post has been edited by re_freako: Jul 13 2014, 08:40 AM

Hi, i am Currently 23 yrs old

working income 4.5k after epf deduction

Monthly money for mum 1k
Swift car instalment 800
Klia transit 250
Insurance alianz 200
saving 2k everymonth

total 4250.. left 250 for some shopping

-no credit card
-no petrol money because mum using the car
-No need to eat outside because meal provided and after work eat at home
-nvr use much money for entertainment like movie etc.. boyfriend is paying them.. so mostly i dont use money at all..

This is what i have been doing since i started working last two years. My income is around 4k to 5k ever since i join.

I am saving money to buy my first house. But i am scare is it hard or easy to get a house with my profile?

Isn't Malaysia your home turf? You will 'survive" just as you did so far in life, and you're doing more than okay too. You already got a head-start with house fully paid, and have 50% cash on hand for another property.

Everyone do 'suffer' in their early stages of their career, so don't feel too hassle by the wife's nagging. She should be feeling fortunate that both of you are together under one roof; as some husbands have to leave behind their family to earn a decent living away from home and maybe only be home during the weekends or once a month.

The salary back home would be lower; I would look more into the seniority of the post and comparable position in the new company to decide on the move.

You are doing a okay too; and you seems to be in a hurry to buy a house. Why? Is it a measure of success?

And you boldly state that you don't have a credit card. Why not? Afraid that you can't control your urges to spend? Don't be afraid to have a credit card if you are good in budgeting your monthly expenses. I found it useful to have a credit card even though I hardly uses it. I mostly uses it at places like Tesco and at the petrol pumps, and a few occasions like paying hotel rooms when on holiday and a emergency case once at a private hospital. The annual tax of RM50 is a small matter. The card I'm having has the annual fee waived for life. Get one... it can be a self-confidence booster.

You are a young career woman on her way up, don't depend too much on the boyfriend... be nice, 'belanja' him once in a while.

This post has been edited by j.passing.by: Jul 13 2014, 06:36 PM

at a young age u earn so much dy...
What u work as?

To Bankers,

I'm looking for personal loan up to 20k. Please PM your bank offer. TQ

H, I've just PM you info from my Bank. TQ

i need suggestion, currently im planning to buy house and car..

house = 135k
car = my target below 30k only (used car only)

current salary = 4k after deduct epf, work in government, and just started working around 1 and half year

insurance = 200
bill (electric, water, internet) = around 300
motorcycle = 150 (for my brother used)
saving = at least 1.5 k/ month
no credit card

current saving around 6k (coz too boros awal2 kerja, now dah regret)

so my planning is too borrow 40k PL and buy cash 1 car and baki make deposit for rumah

the reason 1 want to buy house early is the price keep increasing, 2 years later only 150k for corner lot, now 200k ++

With RM10K/monthly & all the expenses is just barely enough to survice in a city like KL for a family. Due to the inflation & also the personal expenses if compare to SG you are spending 2k in SG, you will need at least 4k or maybe more in KL. Do take note next year with the GST coming in at 6% most of the things will increase as well.

You can live in a better house, but from what i see you will need to cut down on other areas once you are back in Malaysia. Well if to compare with the majority you are still doing better than average . . . no worries

In sg I spent around sgd4k. Hard to reduce. Reminds me of robert kiyosaki. Poor dad, earn more tax more liability more. Need to find ways to escape this rat race is tough.

This post has been edited by re_freako: Jul 14 2014, 09:36 PM

Rm10k would hardly be enough. Stressing over money and safety just to stay in a landed property is not worthwhile IMO.

This post has been edited by soven: Jul 22 2014, 10:12 PM

With 10k, assuming your wife not working and living in kl, u still can survive but remember that having a child meaning increasing expenses.

Not to mention the incoming expenses such as utilities bills, grocery bills, transportation bills, education for child.

Not sure if ur personal 2k expenses is meant for wat but u might need to cut it or convert it for investment or emergency purposes.

If parent living with u, might as well ask your wife to work to lift some of the burden from you.

I'm conservative and I would not advocate taking any personal loans. Had never, never taken any personal loans in my life - either from banks, friends or relatives. "Neither a borrower nor a lender be..."

If you can't afford something, you can't afford it. Period. Borrowing to spend will only disrupt your savings habit, then sooner or later, you will find yourself being 'boros' again... but by then you will have hutang keliling pingang.

Don't be too easily fooled by claims that houses are escalating in prices beyond our reach. Some of these claims are dubious and mostly spread by real estate agents. If there are lots of people like you who can't afford to buy a house (because you have not saved enough for the down-payment), who are the house sellers selling to?

Secondly, you need to check whether you will be paying more or less interest on the personal loan than getting a bigger housing loan.

Thirdly, don't government servants get cheaper housing loans from their boss?

My passive income not enough. Might sell my 3 storey landed and break it into 3 self funded condo, rig it to the point of breakeven from rental enuff already. Increase monthly income in Malaysia means increase personal tax. As for my wife she interested in business but I got no confident in her business skill yet. Just take care kids okie already. Also help me to offset my tax. Malaysia tax is super scary, earn little pay a lot of percent. Now my tax hit around RM 26K per annum in sg. If in Malaysia I do not know how much it will cost.

Tax: anything above RM100K = 26% taxed
Next year: 25% tax BUT GST implemented newly, thus may be kaka hinting the fan

Sell 3 storey what not 3 self funded condo - U better have buffer $ for several months in case rental goes awry

Cars are nearly a necessity in Bolehland thanks to the great planning & minds of our leaders & cable Gov.
LRT, MRT only reaches certain places
Buses - good luck with their schedule

cost of baby: approximately RM1K or lower, to RM3K pm - depending of LIFEstyle or lifeSTYLE.

This post has been edited by wongmunkeong: Jul 15 2014, 03:02 PM