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

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saintmikal
post Mar 1 2019, 10:41 PM

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Junior Member
157 posts

Joined: Sep 2007


QUOTE(af_1993 @ Mar 1 2019, 01:52 PM)
Hi guys would love to get your advice on my personal finance.

Age 26
Gross salary RM3380

Investments
Asb loan - RM150k (monthly RM813) - now dividend more than RM10k
Tabung haji - RM100 monthly (less RM2k)
Unit trust - RM500 (just started - will practise DCA)
Stashaway - RM100 (initial deposit)

Expenses roughly
Housing loan - RM1320 - house still under  construction, another 4 years to complete -- so i havent paid full installment yet
Food RM500
Transport RM200
Rental RM500
Misc RM200-300
Parent RM100

So now i was thinking of purchasing reit stocks which i want o allocate RM2k (taken from bonus) for that as a start. I feel like im rushing with my investment

What do you guys think?
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Looks like a few things missing.

Top of the key...pay yourself first (Savings!)...rainy days are important to buffer for
Second, where is your protection a.k.a Insurance (Life, Medical, Critical Illness)


saintmikal
post Feb 10 2020, 04:53 PM

Getting Started
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Junior Member
157 posts

Joined: Sep 2007


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
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If not too late, get rid of the car installment and downsize your house. Get more free cash so that you can invest and potentially profit when the economy downturns.

 

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