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

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Leo the Lion
post May 5 2019, 04:23 PM

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Personally I like using spreadsheet to help me manage my finance. Because I felt much in control than using financial app.

Attached Image

Heres how I manage my finance:
*obviously the data isn't real.


After looking at this spreadsheet, I will put aside the overall balance to my investment portfolio. If I felt like I want to save more, I will put away Self Reward and some from Groceries to my investment portfolio.

Normally, I can save more than overall balance. But when theres a time I need to send my car for service, renew my license/passport, I will add the amount to Others.

Addition refers to Additional Income (Teaching, Grab, and simply web dev for example).

And as you can see, theres a months sheet. I update all of it .

I will look at this spreadsheet twice (and up to 10 times) a week. To make sure I follow the plan.



This post has been edited by Leo the Lion: May 5 2019, 04:33 PM
Leo the Lion
post May 8 2019, 05:09 PM

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QUOTE(zenwell @ May 8 2019, 02:17 PM)
noticed that you have stashaway at the bottom of your page. How is it like using stashaway?
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You can read my reviews on them. Its under my signature
Leo the Lion
post May 10 2019, 12:33 AM

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QUOTE(neverfap @ May 10 2019, 12:19 AM)
Hi, not the owner of the question but saw your reply on removing from Stashaway. May I know why? Quite new to financial stuff and investment still so might need a little guidance with it  sweat.gif

Age 25 (non-bumi)
Gross salary RM3900 after epf, socso, pcb etc
No side income @@

Emergency Fund - 10k

Investments
StashAway - RM15k

Expenses roughly
Rental plus utilities - RM550
Food - RM450
Insurance - RM390
Transport - RM60
Misc - RM200

Remaining - RM2250

Currently most of the saving will go to StashAway (1.5k monthly)
Remaing 750 not sure where to invest yet. Still learning about investment.

Any input is welcome thumbup.gif
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I'm 30 this year, single and have a decent income. but my insurance is just around rm240 (was 181 before). yours is too high. You should lower it down, and increase the policy as you grow older (maybe when you reach 30) or start a family.
Leo the Lion
post May 10 2019, 12:48 AM

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QUOTE(neverfap @ May 10 2019, 01:42 AM)
Thank u very much for the replies!!

Alright. Asnb for fixed price fund right?

Currently under GE
500k death
500k CI
500k early stage
Smartmedic xtra 200myr (annual 120k)
Smartmedic xtra 99 200myr
Smart extender 120k 200myr (annual 1. 2m)
Smart extender 120k 99 200myr
Hospitalizations 50myr

390 a month (cash value can tahan till age 69)

U guys got any good insurance plan to introduce
All input is welcome as usual
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Consult with your agent, insist on them that your budget is RMXXX / month and your priority in your policy. Of course, insurance agent will want you to get higher premium but if you are practicing a healthy diet, do blood check every 6 months then you don't need to go this high at your age. Extra money you can just park in ASNB. You can withdraw it later

This post has been edited by Leo the Lion: May 10 2019, 12:49 AM
Leo the Lion
post May 10 2019, 01:01 AM

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QUOTE(neverfap @ May 10 2019, 01:52 AM)
Alright!
May i know what plan r u subscribed to?
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PruBSN TakafulLink
Basic Coverage - 150k
Death & TPD - 150k
Compassionate Benefit - 3k
Crisis Shield - 150k
Medical Card - HE + Vital SmartSaver 300

it also include investment link. not much that it invested. and it didn't perform that well either
Leo the Lion
post May 19 2019, 01:15 AM

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QUOTE(neverfap @ May 18 2019, 05:55 PM)
Yes. It's an app/robo advisor

Yup. Medical card now 120k a year for my case. I've downgrade my insurance plan to 300/month. Where the death and Ci has been reduced to 100k each. Room n Board is 200 n 1.2m annual limit.

I have tried to consult with my agent. But he is those young hot blood that go for commission. So impossible to get a lower price quotation from him. Unlucky me I guess haha.
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congrats for the downgrade! but abit too high for your age. if I were you, I reduce it to <250, around 200. and increase my expenses in healthy food.
Leo the Lion
post May 19 2019, 11:56 AM

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QUOTE(Enjoise @ May 9 2019, 05:38 PM)
Hi guys. Kindly look through my expenses.
Totally blew my budget although I hv been spending carefully.

April Expenses Items:-
Housing Loan & maintenances etc 3100
Car (petrol,toll & parking) 470
Food 730
Leisure 140
Phone & Internet 165
Paid some legal fees 1100
Misc healthcare, dental, services etc 245

Total Expenses : 5950
Nett Income : 5000 - 6000

Thnks.
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Hmmm

From what I see here, you can reduce your expense on food by about RM100+. To do so, you should cook during weekend and 1-2 times per weekday.
You can save some cash on petrol and toll if you use Setel app to earn cashback for Petrol and TnG 20% Pay Direct cashback.

As for housing loan and maintenance, you can do a house hack. You rent out one or two of your rooms. You can also rent out your living room as well.
Leo the Lion
post May 23 2019, 06:37 AM

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Will delaying both Auto repayment and Housing loan repayment for 1 month affect my credit scores?
Leo the Lion
post May 23 2019, 06:43 AM

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QUOTE(ratloverice @ May 21 2019, 07:12 PM)
Need some advices here.

Im currently 27. Planning on getting married and buying a house within the next 2 years. My savings are able to cover 60 months of my monthly expenses.

I have been considering about getting a life and accident insurance just in case anything happens to me. A friend of mine who works as an insurance agent quoted me RM664 per month for a sum insured of 1.1m for life, 500k for illness, around 200k for accident, and a medical card of 1.2m per year.

I had a discussion with my gf and she thinks that it is not necessary to insure that much when im still young. Im in a dilemma about this because I see it as an important thing to ensure that either my parents or future wife have sufficient amount of money to support themselves if anything happens to me, but my gf thinks that I shouldn’t be spending so much on insurance at this young age.

Would anybody mind giving me some opinions please?
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I would say, you upgrade your policy AFTER you married. Not now. As anything can happen to the CURRENT you like breaking up with GF or PUTUS TUNANG. Save those extra money for your wedding or for the future.

After you’re married, take time to upgrade your policy. Start off with insurance around 260-320. You just started a new life ma. Dont jump to 6xx.
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