Personal Financial Management V3, It's all about managing your $$$
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 Jul 16 2018, 02:13 PM
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#1
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Junior Member
428 posts Joined: Sep 2017 
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i just read this page 80, and found most of you advise to settle the PL asap, but not to take another loan to repay the 1st loan.
how about if this apply to housing loan? is it practical to settle the housing loan asap may be cut the saving per month and pay more on loan? also, what does it means by balance transfer? |
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Jul 16 2018, 02:25 PM
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#2
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Junior Member
428 posts Joined: Sep 2017
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QUOTE(T231H @ Jul 16 2018, 02:18 PM) read before....they said housing loan is the "cheapest" loan.... read some where else too.. and not 1st time this questioned been asked.. but i am still not knowledgeable to catch the point. they advises use the available money to try to generate higher ROI than the housing loan rate.  Perhaps some one can enlighten me with an example / simple excel comparison? Eg: housing loan 4.2% vs ASx 6% lyn forumer told me by putting in ASx i can even earn 1.8% interest (6%-4.2%). just simple calculation. Always saw ppl mentioned about simple interest rate, effective interest rate, complicated formula, etc. i am not in finance field, i got confused. |
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Sep 1 2019, 11:27 PM
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#3
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Junior Member
428 posts Joined: Sep 2017
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QUOTE(taiping... @ Sep 1 2019, 07:48 PM) Im 34 this year Straight forward saving plan.. 0% investment allocated.i'm thinking, RM100k of savings into FD that follows promo (4.4% best rate now) RM10k of savings into FD tat dont follow promo (eFD can withdraw anytime) Rest goes to EPF So the 10k that dont follow promo is first emergency 2nd emergency is the RM100k My retirement plan. My main purpose is to park here 😅 Super low risk I will categorized as. |
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