Hello,
Not very experience, still learning. I would like to hear what others have to say too but here's my .2c:

Since you're travelling with bike, i guess PA is good to keep. But for Hospital Income, the insurance company will pay allowance when one is admitted right? If yes i probably won't bundle it with my PA. You can get a normal PA policy for as low as RM1xx p.a.

I dont know about "insurance company will pay allowance when one admitted". But what I do know is that my company is a startup company and they don't provide any medical benefits or some sort thus I need at least the Hospital Income Plan to cover me.

If your company provide you with medical card, you can opt not to buy at the moment BUT i would strongly advice you to get at least a basic term medical card; dont take up bundle of investment + protection + saving. Get pure protection for insurance, FD for short-term savings and since you're bumi, you can always opt for ASB for investment fund. If you're looking for EPF alternative for retirement, check out Private Retirement Scheme (PRS), you can get more info in the forum or fundsupermart.com

My insurance currently will pay RM 400 if I'm warded more than 6 hours a day but they won't pay my medical bill so I will look into the medical card thing. I do plan to take long term ASB financing for RM200K OR two ASB financing under my name and my fiancée for our retirement purposes but I once heard that it will affect my loan capability no?

Consider life insurance only if you have dependent. And again only buy pure protection, try not to bundle up with savings and investment.

If you plan to buy a car, can you afford a housing loan? With your combined income, you'll probably eligible for somewhere between RM500k-600k housing loan; just a rough estimation; no experience here. And you need to put some effort if you're serious about 2nd hand car; common issues with 2nd car is the maintenance fee which will cost you in long run.

Here's the problem. I need to have a car, rent a house and make housing loan. These 3 things are the biggest commitment that I think will be included in my financial. I would love to buy a house straight away but I dont want to commute long hours to our working place.

So basically here's a summary of my view:
- Get only pure insurance for protection; you can cut down on insurance expenses. Forget about fancy perks and bundle!
- Short term savings, FD; Minimum to no-effort Investment, ASB; Retirement Fund, EPF and PRS
- If car is not a necessary, den that is your answer ;otherwise
- In your case, since you're getting married i think getting a home first is a better choice

And this is my view 
Btw you have good savings! 

Thanks a lot for your insight. I really appreciate it. 

There you said it yourself, you will be paid RM400 if you're warded means the rider pay you when you're admitted 

So the hospital income, it depends on your need. If you want to cut down the premium expenses i would recommend switching to a basic medical card which will cover your medical fee and get a PA without the hospital income rider.

I guess I need to make a few adjustment to my Hospital Income Plan. This is my EHIP which I paid RM54 per month. PA Rider is just an add-on on top of my EHIP and I don't quite remember what it does (will check on it later). I'm taking the EHIP just to cover my family as I don't want them to be burden by my commitment later on if there's something happened to me that makes me unable to work.


As of the ASB financing, i have 0 experience so can't comment.

Your current insurance
PA+Income Rider = RM768/year; cover accident and pay you income when you're admitted
TOTAL = RM768 ; RM64/month

Here is a estimated insurance charges (not agent so just an estimation)
Basic Standalone Medical Card: RM800/yr ,available from as low as RM400/year at your current age (premium increases on age category, nrmally every 5 years); cover your medical expenses
Basic PA = RM150/yr
TOTAL = RM950/yr ; RM80/mo
*If there is a need of Life Insurance, get a quote for term life from agent.

OR If you wanna follow the norm, you can always get investment linked bundle insurance (not recommended as of my self preferences)
Investment-linked bundle est. premium (common quote) = RM2400/yr ;and you get a bundle of medical, life, PA, investment/savings 
TOTAl = RM2,400/yr ; RM200/month

Okay, I will look into it. Will check my PA and EHIP plan accordingly and see what I can come up with that. Obviously I need a medical card.

Since you need a car den try to get one within your mean for now. Second hand car is good if you can get a good deal. Try don't spend so much for a car (liabilities), a local car is not that bad for starting 

So you are planning to buy a house at Tmn Melati, at the same time rent a house near your working place? If you can get a good house deal den should be no problem but your savings will take a big hit if any left.

My current plan is either:
1. Rent a house nearby our office thus will reduce commuting hour and expenses.
2. Buy a house near Taman Melati and commute from there. No rent, own house, nearby to my in-law if my soon to be wife will pregnant, still commuting by bike for RM 6 per day.

I guess no 2 would be wiser eh?

Your current saving/month
RM1200
+ RM140 (RM7/day at 20 working days est.) Motor fuel since you're using car now
+ RM64 ;your old insurance
TOTAL = ~RM1404

Est. new expenses
Personal
(A) Basic Insurance OR (B) Investment Linked Bundle
TOTAL = (A)RM80/mo (B)RM200/mo
* you can always get a lower quote on (B) from agent, if you insist to bundle 

Personal/Share; halve the amount if share
Housing loan repayment for a RM300k property = RM1200/mo
Car installment = RM500/mo
Car fuel = RM250/mo ;lower since you renting near your workplace i assume
Rental = RM500/mo < can rent a house/unit within your working area at this price?
TOTAL = RM2600/mo ; halved at RM1300/mo

A basic calculation, might have missed out some of the detail or over est. some of the cost. Base on this est., you're going to be tight if you plan on getting a car, rent a house and buy a house at the same time now. Wait for the more experienced sifus to reply coz i have no experience 



According to your number here, I make some adjustment:
Housing loan repayment for 300K property = RM 1200/mo
2nd Hand Car instalment (for 5 years) = RM 500/mo
Motorcycle Loan (for another 4years 3 month) = RM 250 (including insurance).
Basic insurance x 2 (wife and me) = RM 160
PTPTN = RM 300
TOTAL = RM 2410 which is  46% of our take home pay.

Is this good or bad?

If you're worry about your dependent in cases where you can no longer work (Total and Permanent Disability,TPD) den a life insurance (health) and PA (accident) is more appropriate to pay for you and their expenses for 'n'-years/months depending on your plan. Rider is just a luxury that you pay more for EXTRA insurance benefit, of course like i said if you find it useful den it's for you. If your goal is to cover you and your family expenses in cases of TPD; being not able to work anymore, Life insurance is better than the hospital income rider.

Yes, medical card is the minimum in insurance.

For house, it's better to decide with your family; coz it's a big commitment. Different people different view on this, there are people who prefer renting a room instead and buy property to generate rental income. There are also people who will get a home first; which for your case since you'll be living with your new family. No right or wrong, so you'll have to discuss with your family and make the call yourself.

The calculation is base on property @RM300k, can you find any at that price range? If not den you'll have to review. Calculation haven't include any Life insurance (to meet your basic need which you said you do not wish to burden your family in cases where you can't work anymore) And if you still can save 46% from your combined income that will be a good figure. But you'll have to take note of some not-so-frequent expenses like emergency, car maintenance, repair etc. etc. and more importantly, you have to plan for your child since you'll be having one soon. Can the remaining amount pay for your child expenses  ? If not den you're in big trouble...

Just want to add, try not to spend too much on your wedding. And don't take loans/debts for weddings.

Remember that it is just a 1 day event. Although it is a very important day, most married couples forget their wedding day after the 1st year. Reason being you will be dead tired on that day and probably glad the day is over.

As a married couple you still have the rest of your lives ahead, so don't spend your entire savings on a 1 day event when more life responsibilities are coming your way. House purchases needs a minimum of 10% down payments or fees. Don't forget minor renovations and furniture.

Car loans also need a down payments and don't forget future expenses for maintenance and servicing. Your fuel costs will go up as well.

Don't take the ASB loan first until you figure out the other loans you planning to take. Because if you max your ASB loan, it might affect your credit limit for other loan applications like housing loan and car loans.

I would advise you to postpone your hire purchase and insurance until you have settled your shelter. 46% of loan apportioned to your combined income is indeed risky to me. Here is why:

1. Since you just saved enough for wedding and new house, I assume you don't have much money left after that.

That is correct. We do need to furnished our house but we do have some money for the necessity equipment

2. If one of you lose your job, the another one is not making enough to cover all the expenses.

3. Insurance is more useful when you have kid. Essentially nothing has change after your marriage until you have children, why bother to buy insurance at this point of time?

Both of us are going to work riding bike. I really think that it is a must to at least have a basic medical and insurance no? I don't think that those are too expensive right? (according to the numbers given by Morning06.

4. Your priority is beef up your backup fund. Keep at least 4 ~ 6 months of expenses before looking into car and insurance. Ideally 12 months of expenses if you want to have children.

Will definitely save money for backup fund. Is it 4-6 months of expenses or 4-6 months of our wages?

Just my 2 cents.

Hello all,

I have just started my first job at an audit firm with rm2.8k salary. Is there any tips on how to save money? I know with my low salary, I can't really expect a luxurious lifestyle.. but no choice, i guess thats what every graduate face.

Please advise

so no holiday, trip etc 

instead of cash Withdrawal via credit card why not Withdraw these funds via bigpay/boost at merely 0.15% transaction cost while stretching repayments to even 18 months at zero interest?

Hey guys, I am married and here are my personal finance status

Gross salary rm8200
Net salary rm6600
Monthly expenses (Food, groceries, work related etc) rm2400
Parent rm300
Rental rm900
Car loan (Until Dec 2020) rm570
Insurance (Includ wife) rm450
Phone (Includ wife with phone package) rm350
Internet rm190
Electric rm100 - 130
Water rm20
IPTV, cloud storage etc - rm150

After deducted the expenses left the balance at approx rm1400

Still have debt which I am aiming to clear within few months time, so I will not include it here unless unforeseen circumstances come up and unable to clear the debt, additional rm230 will be included to the top
I am seeing nowadays near completion or completed condo are selling at least 400k - 500k

So with these figures provided, it's advisable for me to get the mortgage loan let's say at 400k - 500k?
Or it's best for me to lay down and come up with higher deposit and scale down the mortgage loan to 350k - 380k?

My worry is the the newly launch project will have issue to handover, completed project I would know the status although price is alot higher

Currently looking around Kepong or Kora Damansara areas
Thats what I worry, perhaps just slowly survey while work hard to save more in the meantime

personally quite anti -progressive interest.
basically just borrowing money for developer to continue the project

sometimes prog interest can go up like crazy