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Personal Financial Management V3, It's all about managing your $$$
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kyan :)
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 Jun 15 2017, 01:22 PM
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Gross income : RM 7,600
Net income : RM 6200
Monthly spending below:-
Medical Insurance : RM 200
Room Rental : RM 500
Internet : Nil
Mobile : Nil (Company pay)
Parents : RM 1,000
Car : RM 900
Petrol : RM 320
Tolls : RM 240
Parking : RM 90
House installment : RM 1300 (Tenant pays RM1200)
Food : RM 1,200
PTPTN : RM 250
Entertainment & Travel : Average RM300/m Use bonus money
TOTAL
Total Spending = RM 6000
Total Savings = RM200
Is this healthy?
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kyan :)
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Jun 17 2017, 09:55 AM
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QUOTE(imnotabot @ Jun 15 2017, 10:05 PM) Are you single or married? In my opinion, your savings rate is quite low. Maybe you can at least reduce your food expenses to increase your savings rate. Do you currently have any savings? Like emergency savings? If something happens to your house rental income (e.g. your tenant suddenly stops paying or run away), you need some savings to temporarily cover for the lack of rental income. I'm single, yea it's very low.. parents side they retired without proper financial planning that's why I am paying more. Why my food expenses is high is because I factor in weekend eat outs that I got to pay as well. I only kept about 7K in FD, 8K in stocks. So far tenant is quite okay... and I track all the water and electricity bills monthly.. Next thing I'm looking out is for a new job offer to give me 15-20% of my current pay.. that will ease my burden.. |
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kyan :)
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Jun 17 2017, 09:56 AM
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QUOTE(MoneyMaker prince @ Jun 15 2017, 07:40 PM) Your total housing loan installment is RM2500 or RM100 (RM1300 -RM1200)? If your housing loan is only RM 100, then your saving will be RM 1400 and i think tats ok. Housing loan is RM2500 monthly - rental EM1300 haha |
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