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 Personal Financial Management V3, It's all about managing your $$$

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nakedtruth
post May 22 2017, 10:25 PM

Enthusiast
*****
Senior Member
931 posts

Joined: Feb 2011
QUOTE(eddystorm @ May 17 2017, 02:46 PM)
Dear sifu's,

Recently i booked a condo(loan approved and waiting to sign SPA) but i am kind of not sure if this is a good decision or not. sad.gif  I am buying it for own stay and rent out partially to cover some cost.
So i am here to seek some advice or financial plan for my future move.

Gross income : RM 7,500
Net income    : RM 6190

Monthly spending below

Medical Insurance : RM 200
Room Rental        : RM 600
Internet                : RM 72
Mobile                  : RM 53
Parents                : RM 600
Petrol                  : RM 200
Tolls                    : RM 60
Parking                : RM 110
Food                    : RM 600

So balance RM 3,695. 60k cash in FD.

Some info for the newly booked condo. Estimate can move in on this August.
mortgage            : RM 2,670
Maintenance        : RM 400

So my plan is to rent out 2 rooms, hopefully can collect RM 500 per room so i can save some money to replace my 10+ years old car.
*
I see you doing very good here. Purchasing the property is good to offset you rental and moreover if you can rent out 2 rooms for RM500 each you can get total RM1600 return (plus the rental). For future maybe you may not need to worry much because the installment is fixed unless change in BLR/BR.
nakedtruth
post May 22 2017, 10:34 PM

Enthusiast
*****
Senior Member
931 posts

Joined: Feb 2011
QUOTE(Arche_ling @ May 9 2017, 11:32 AM)
Need advise on my financial planning
Earning average nett 4.5k after epf and tax

monthly commitment
Car Loan        : RM1050
house loan      : RM700
Mobile            : RM 100 
gym                : RM 88
Petrol              :RM 300
Food              :RM 300
insurance        :RM200

approx RM1.5k saving monthly (sometimes try to pump into asnb but not always got quota for non bumis, so any advice where should i invest apart from putting in fd? ) thanks.
*
There are few options of investment
1) FD (low risk)
2) Share/REIT (high risk)
3) Unit Trust (risk depend on type of unit trust)
4) Insurance investment scheme (low risk)
5) Gold (depend on your affordability)
6) Property (depend on your affordability)
7) Foreign currency account (high risk)

All the above give different return and different risk. Myself invest in 1,2,5,6. So far all give me positive return except 2 which im just started. I started with FD after my money growed i go for property and then gold and now share. if i my money grow i may go for 7 as i dont fancy 3 and 4. but is all due to individual preference and how much risk one would take.



 

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