For that case it's an good option if you plan to rent out the SOHO for some passive income. Tenant can help u pay off part of the installment, positive cash flow if you are lucky.
Looking for property too currently, but takda duit.

This post has been edited by ironmanfren: Sep 5 2014, 11:10 AM

dude i bought it already, its just nice for my room, my viewing distance is about 11ft, i dont move my head during action scene. damn satisfied with this internet tv

my financial goal is 100k savings, i think i can achieve that even after spending this amount.

That must be a very nice TV that you bought! Congrats man!

That's my short-term goal as well, at 100k in my savings account!
Let's do it together!

how old are u?

sure can archieve rm100k but question how long.

Alwasy remember to put timeline. Else after 20year also goal still rm100k.

I am 25

I am at arnd 15k atm after dumping 31k into first housing loan

You're right!
Okay I set at age 30, I wish to have 100k in my bank account! At most, before my 31st Bday!

We have the same goal. 100k savings before 30

sure can . I archieve rm100k cash at 30 too.

Alot scarify : no complain no car, no complain no gf, no complain fancy phone, no complain fancy internet, no fancy fine dining, no complain holiday, no complain nice clothes, no complain stay at DBKL flat, no complain take bus and train, no complain no clubbing, no complain no starbuck.

remember dont buy thing you dont need, later you will sell thing that you need.

This post has been edited by felixmask: Sep 8 2014, 06:52 PM

I am having the same target as well..

Since i am already at the age of 29, i don't think i can hit the target the year..

11ft is fine hehe. In my house it's about 3-5 ft that's y I asked hehe.

Congrats on ur new tv! Glad u r enjoying it!!

I'm targeting RM100k by end of this year. Hopefully can achieve it.

True, many things need to sacrifice, no car, no gf, got note 2, unifi by landlord, economic rice, no holiday, no nice cloth, stay at rent house, take bus n train, dont club, kopitiam kopi taste better.

That's a lot to sacrifice...
Well I'm servicing a couple condominiums, got car, got gf got fancy phone got fancy internet, no fine dining but quality time with the gf, got some holidays lah, going to south africa next year, no extravagant clothes la but comfortable working attire and a nice pair of jeans to conquer all the casual times, stay with parent (meh..), got car, never liked clubbing, personally think kopi O from kedai kopi is better than starbucks...

I buy a lot of office supplies....T__T

Separate Needs from Wants.. And work from there

Main challenge is walk the Talk

Might be better to have a balanced asset allocation. e.g 1/3 property, 1/3 stocks, 1/3 cash.

Stocks can be low PE and dividend paying.

Hi sifus,

Below are my outstanding loan :
Housing Loan - RM 133k (Interest 2.85%) --> Staff Loan.
Credit Card O/S - RM 14k (Interest 15%)
Credit Card O/S - RM 1.6k (Interest 12.90%) --> Convert CC into PL.
PTPTN - RM 9k (Interest 4%)
ASB Loan - RM 104k (Interest 4.85%) --> Staff Rate.

Below are my savings :
ASB - RM 30k (Total RM 130k include ASB Loan)


Extra savings per month around RM500 - RM800.
My plan is to pay off Credit Card O/S as soon as possible. Any technique how I can pay off quickly the CC?
I don't want to touch RM 30k cash in ASB because that is my emergency fund.

Hope you all can advice me.

1. Divide which one will make u money (investments) and lose you money (liability) and rank them

Housing Loan - RM 133k (Interest 2.85%) --> Staff Loan. - Good debt (less than ASB)
Credit Card O/S - RM 14k (Interest 15%) - VERY BAD
Credit Card O/S - RM 1.6k (Interest 12.90%) --> Convert CC into PL. - BAD
PTPTN - RM 9k (Interest 4%) - Good debt (less than ASB)
ASB Loan - RM 104k (Interest 4.85%) --> Staff Rate. - Good debt (less than ASB)
ASB - RM 30k (Total RM 130k include ASB Loan) - ~8% PA
Extra savings per month around RM500 - RM800.

14k debt @ 15% will cost u ~175 extra a month, which is really bad. I SERIOUSLY urge you to consider using the ASB to clear it.
@800 a month, you'll need about 19 months to get back to 30k. If a true emergency comes (which it rarely does), you can always get a personal loan or credit card quick cash.

Thanks polkiuj for the reply.
The CC debt is my TOP PRIORITY to clear. I plan to dump 7k dividen from ASB straight to CC.

U should really consider to pay your credit card outstanding..

The interest is so high, not worth for you to even drag it

Total of credit card outstanding is about RM15.6k so why not settle it.. Not worth to compensate the interest for the outstanding just to use ASB as your emergency fund.

My suggestion is to clear it all. This debt is not worth having. It's losing you money for no reason.

A true (normal) emergency rarely requires 30k instantly. If not instant, you can easily obtain loans.

Of course, we seeing this from the POV that u have a decent credit score.

IMHO, on the emergency - it may not be too smart to rely on loans when in an emergency itself.
a. one's CCRIS or credit worthiness may be problematic during the emergency.
b. >=RM30K needed instantly is possible. Thus far, i've seen it happening to me 3 to 4 times already.
Pls note - i'm not a big-shot with lifeSTYLE but generally a worker like most folks.
Thus, if it can happen several times to me... (maybe i'm UNluckier than most )

Just a thought