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

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titanic_crash
post May 24 2015, 12:11 PM

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Hi sifus here..
Need your opinion..

I have savings about 100k..(spread between ASB, ASB2 and Tabung Haji)

My house will be completed by oct 15 and I thought of allocating about 40k for the necessities…

So, I left with 60k…

I have this car, another 7 years to go (loan for 9 years)..the balance at the bank is 32k, when I check the settlement the bank said can pay 27k..(disc/rebate around 5k), the interest is 2.98%

The question is, should I proceed to settle the loan…or should I left it at my investment house??
titanic_crash
post May 24 2015, 04:01 PM

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QUOTE(puchongite @ May 24 2015, 01:26 PM)
You are comparing your car loan with the return from investment house ?

I would just enter the 2.98 % flat rate interest and the loan tenure ( 9 years ) into online conversion formula, you will get a 5.46% of  annualized percentage rate. If your return from the investment house could achieve > 5.5 % return ( roughly) , then it's better to keep the loan and harvest the return from the investment house.

But do keep in mind some of the return higher than FD will carry significant risk which can affect the principle.
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yes...my investment house referring to ASB,ASB2 and Tabung Haji
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