I want to build my 6 months emergency fund as my first step towards savings. My expense is currently around RM3k per month, which means I have to save around 18-20k emergency fund.

Currently I have rm10k sitting in a 1 year FD (3.35%) and going to mature in mid March next year. I also have a few savings here there and combined with this FD, I will be having rm15k by March.

What should I do with the RM15K? continue with FD? But sifus here like @Ramjade said FD is a waste of time. Putting into ASM is suitable as emergency fund?

edited: its ok, found out

This post has been edited by NGV22: Dec 28 2018, 04:35 PM

but if its efixed deposit, can take out anytime i want including weekends/public holidays, no?

what would you suggest for 6 months emergency fund?

Hi all,

saw the great post by AnAngel65 and thought i would like to post mine.

Age: 29, living in parents house.

Nett Pay: 5k

Monthly Expenses:
Car: 773
Parents: 500
Life insurance: 250
Petrol: 150
PTPTN: 180
Internet: RM105
Electricity: RM150
Food: RM 600
Parking: RM 180
Groceries: 150
Medical treatment: 650
medical supplement: 180
mobile: 30
misc: 200

-----------
~4k

Monthly savings: ~1k

Savings/Assets:
1. FD 20k
2. ASM 19k
3. EPF 61k
4. Savings account 663

Total assets: 100k

Issue:
1. Car is a huge burden every month, but left 2+ years to pay off. Share car with parents
2. Not sure if life insurance is worth it.
3. I want to live out in few years time instead of living with fam for personal freedom, but its not cost effective..
4. Dating can use a lot of money (look at food and misc) and being the guy who pays most of the time. Will talk with gf bout this.
5. Have this medical condition as you can see, hopefully can sort out by this year...

with proper planning, i think still can stretch my savings every month to 1500.

Plan:
I want to venture into share... is this advisable at this moment?

thanks for great community here.

This post has been edited by NGV22: Sep 1 2020, 06:43 PM

Right. I have no knowledge or experience in general investing, and one of my goal for the next few months is to gain these knowledge.

I have heard about fsm and stashaway, but not others. I will read more on these.