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Personal Financial Management V3, It's all about managing your $$$
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ixaRA
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 Dec 24 2019, 12:18 AM
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Getting Started
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Hi guys,
Would appreciate greatly if I can get some advise on how and where to grow my money.
Age: 33 years old (next year)
Salary : RM 2300
Monthly Expenses
Food: RM 300
Petrol: RM 50 (using motocycle to work)
Phone bills: RM45
House internet: RM30
Car loan: RM 800 (already pay more than 5 years)
Asset : got house market value RM800k
ASNB - RM200k
EPF - around RM50k
I might getting married and settle down next coming year.. if everything goes well..
This post has been edited by ixaRA: Dec 24 2019, 12:19 AM
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ixaRA
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Dec 24 2019, 08:06 AM
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Getting Started
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QUOTE(MUM @ Dec 24 2019, 12:40 AM) looking at your provided data you have abt RM1k surplus per month you planned to get married next year. how much do you plan to spend on marriage.... try to save for that first? btw, how much cash & fd saving do you have now? " looking at your provided data you have abt RM1k surplus per month " - yes correct
" how much do you plan to spend on marriage." - for hantaran and kenduri kahwin all RM 20k. Yes i also thinking need to try save for hantaran first
" how much cash & fd saving do you have now? " Currently my cash in ANSB.. RM 200k I no fd saving. And i no and never ever took any personal loan |
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ixaRA
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Dec 24 2019, 08:38 AM
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Getting Started
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QUOTE(MUM @ Dec 24 2019, 08:12 AM) Yes... Try save for the hantaran first... Then the expenses needed for the ceremony... Then discuss with Yr wife what are needed to buy for the inside of the house. Try not to touch the ASNB if possible Yup im agreed with u. thank you sir for replied |
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ixaRA
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Dec 24 2019, 09:32 AM
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Getting Started
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QUOTE(aspartame @ Dec 24 2019, 09:20 AM) May I know your house got loan? ASNB got loan? Very impressed with your financial standing considering your income is not high...👍🏻 My house no loan. Its inheritance from my family. Yeah. Thinking to took back ASNB loan too. Need to see better bank rate for asb loan next january |
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ixaRA
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Feb 9 2020, 09:23 AM
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Getting Started
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I'm aged 33 currently and working in office.
Gross salary RM 2300
Side income around RM 30K per month
Monthly expenses (Food, groceries, work related etc) RM 600
Parent RM 2000 (depends on what they need, i will buy for them)
Rental RM 0 (stay with family)
Car loan RM 810 (left 3.5 years more to settle)
House RM 800K (current value, fully paid. Im inherited from my parents)
Insurance RM 110
Phone RM 45
Internet RM 60
Electric RM 0 (my parents pay)
PTPTN Loan RM 0 (my parents settle all RM 11K loan)
ASNB Loan I max up to RM 200,000 (RM1000 per month I paid) roughly. Starting pay early this year.
Above are my total expenses.
As for my saving, I managed to save up to RM 240K in a ASNB
also cash on hand RM 4000 (in bank saving acc)
as for EPF around RM 50K
Currently my status still single, already knew one girl.. same age with me and she work as HOD.
im planning to buy my own house, apartment.. or maybe u guys got better idea. no need to buy house since i already got house inherited. Tq
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ixaRA
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Feb 9 2020, 10:33 AM
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Getting Started
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QUOTE(MUM @ Feb 9 2020, 10:23 AM)  if i have these income, it would not be a problem buying a property (unless it is a multi million tag range) the house around RM 250K to 275K max, i maybe will buy it cash. Since my salary kinda low and my monthly commitment almost same with my salary  |
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ixaRA
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Feb 9 2020, 10:54 AM
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Getting Started
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QUOTE(yklooi @ Feb 9 2020, 10:41 AM) with that cashflow,.....then don't buy a new property since you already has one btw,...your Side income around RM 30K per month or just RM3k per month? (I assumed it is RM3k per month) Side income its 30K per month. Maybe if like that will settle down my car loan left around RM 33K only. Free the monthly cash flow. |
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ixaRA
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Feb 9 2020, 11:01 AM
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Getting Started
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QUOTE(k@ezoon @ Feb 9 2020, 10:56 AM) If you can earn side income over 10x of your gross salary, you should just quit your full time job and focus on the side income instead. Unless your current job is somehow related to your side income. Yes u are correct about that, but this job is will always make remember money its hard to get. And its look kinda wierd for person that dont work. Later the girl also will feel wierd if i dont go work  |
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ixaRA
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Feb 9 2020, 11:03 AM
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Getting Started
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QUOTE(rapple @ Feb 9 2020, 11:01 AM) 30k per month... Why not just focus on your side income and leave your job.. you will probably get even more i still can do both together . its not effect my current office jobs  |
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ixaRA
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Feb 9 2020, 11:25 AM
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Getting Started
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QUOTE(yklooi @ Feb 9 2020, 11:10 AM)  with that total income,... save that income for 10 months,...then buy cash, why need to pay interest to the bank for that housing loan and extra lawyer fees? then by that time, your car loan will be next to clear already.... (unless that side income are not reflected in your income tax) Yeah, the side income still need to be declared, if not cant buy house |
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ixaRA
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Feb 9 2020, 04:24 PM
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Getting Started
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QUOTE(seancl85 @ Feb 9 2020, 04:05 PM) fantastic if side income is 30k. everyones dream. yup, but its not easy to be there. must always think and planning for future outcome. This post has been edited by ixaRA: Feb 9 2020, 04:24 PM |
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ixaRA
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Feb 9 2020, 05:58 PM
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Getting Started
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QUOTE(yklooi @ Feb 9 2020, 04:45 PM) good that you managed to get RM30k per month of side income in less than 2 months. (Dec 2019 postings does not mention the available of this 30k income)  Great effort you got there. thank you very much, yes meant you follow my previous posts  |
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ixaRA
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Feb 9 2020, 06:00 PM
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Getting Started
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QUOTE(rapple @ Feb 9 2020, 05:24 PM) Yea wo.. I would quit my job in a heartbeat and focus fully on my business. I just wonder what holding he back for doing his own thing. Last year when I get an opportunity to start my own thing, I immediately resign that month. Opportunity does not always come but once it comes one must be able to recognize it and take the opportunity. this job is what my parents wanted. its not easy to get this jobs. so many apply for it |
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ixaRA
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Feb 10 2020, 07:14 PM
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Getting Started
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QUOTE(Agent 592 @ Feb 10 2020, 03:35 PM) Hi, need some opinion on how to manage my financials better Age: 30 Monthly salary: 8000 after EPF and tax Month expense Car installment: 800 House installment: 2200 Insurance: 700 including house MLTA Phone: 40 Living expense: 1500 Leisure: 500 TOTAL: 5740 Asset House equity: 50,000 (house price - loan) Stock: 25,000 Unit trust + robo advisor: 100,000 EPF:150,000 Cash: 25,000 P2P lending + crowdfunding: 8,000 TOTAL: 358,000 i envy to have very good salary like you, but why need to keep cash until 25K This post has been edited by ixaRA: Feb 10 2020, 07:15 PM |
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