Yes, i have to admit i dont know what im buying n investing. The saddest part is my 50k pl was made just to maintain my lifestyle (commit to that damn loan 8yrs ago).

I started this year with ambition to save more n spend less. Still on the right track. I dont have money issue coz i earn quite good for a single person, with the current lifestyle. My car still in good condition, it just that i sometime feel jealous seeing my colleague n friend buy new car.

This is my plan :

- saving for emergency fund of 3 month gross income
- make full settlement for PL by taking another PL so i can save more
- maintain regular saving atleast 2.5k monthly so i can pay full settlement for my 2nd PL
- then start saving for house deposit or new car. This is what bother me much coz my tenure will reduced as i get older.

What say you? I think i have to forget about investing until i achieve all above.

If my plan works, i can make full settlement for my 2nd PL in a year, from my monthly saving.

Hi Lowyat,

I am currently in a dilemma should I be buying a property that priced as below:
Property Price
RM 814k (Before Rebate)

Rebate
RM 57k
RM 54k
RM 4k (Referral)

The rebate will be credited into my bank account as cash, which can be use for Renovation and covering for monthly installment for at least 21months (1.75 years)

I am planning to use 35k to renovate.

Current Salary - RM 5100 (After Deducting EPF)

Current Monthly Loan Repayment
Car - RM 700
Car - RM 750 (Ends in 5 month time)
PTPTN - RM 300
Phone - RM 285 (Ends in 11 month time)

Should I buy this property and use the rebate to pay off monthly installment for 1.75 years and work hard to ensure I get a higher pay by the end of 2021 to start paying the installment with my own salary? I also planning to rent out 1 room which yields around RM1000.

Thank you brother, well understood.

I am aware of the 111k "rebate" is actually the money I loaned from bank. But I am basically use this amount for renovation and pay back the monthly installment which is kinda funny (stupid). But I am planning to rent 1 room out to reduce the monthly installment. As I will be treating it as own stay also...

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.

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.

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