Just a question to ponder,

Car loan 65k with annum interest rate 1.68% repayment periods 7 years
which made up of rm864 monthly instalment,

Is it advisable to change it to 5 years repayment just for the sake of avoiding interest? or continue with 7 years as the interest is so slow and invest the extra money into FD which guarantee at least 3% per annum?

Stucked at this question :/

A good article on personal financial management

How to retire early — 35 years early How to retire early — 35 years early
http://www.marketwatch.com/story/how-to-re...17?pagenumber=1

U know a country's going to hell when most of their population thinks more loans = solution to $ problems 

First of all, I would like to say THANK YOU to all the comments. You guys really take time to explain in details / not in details the cons of having the CC debt. I've decided to settle the CC debt by this week. 

Thank you.. 

1) the amount is more than the minimum payment. the reason i save more is for contingency purposes, i really feel somethings wrong if i dont save cash savings
2) yea the 400 is food. i opt for comfort in terms of lodging

3) why not opt for max tenure?

basic 5k, after deduct everything nett is around 4290, i got this amount for 2 payslip already.
ptptn- stop paying for now.
cc from 4 cards, rm800 p.m, so basically i'm paying cc + easy rhb 1200 = rm2k p.m.
unifi is shared with housemate. however he will move out coz he got married last month. so i need to get another housemate..and i might pay lower rental and internet fee too.. and since i still have another one year contract left..if break contract still need to pay. and not sure how to remove those internet, as i work with computers and internet..

if i were to sell the car, i need to top up at least 10k to cover the loan balance.resale value vary bad for proton. not quite sure how this is gonna work. but nowadays i rarely use car. only bike..of course before this i was thkinking to sell the car, but since the resale value very bad, i keep using it lah..

ya..gym membership if can transfer is a good thing too..but still, one year left.

misc like top up/shampoo/deodorant etc other utilities... around 200.

so normally, after i paid all those things, i'm left with rm650 for daily expenses ...i already doing this for many months now..

i'm evaluating my options now. because i'm only left with 1k savings..deswai thinking so hard how to settle this, if i have 10k in my hand, i don't really mind living like this for a few years until all paid up..
maybe i could sell some of my stuff to raise some money as savings.
i was hoping on two things for next year.
salary increment this january(i;m paid lower than market btw).. it's a promised from my director...he knows i'm having a problem, so he said he will try to push the management for higher salary, so far, i got increment every 6 months, and this year alone, an increment 1k from 4k.
bonus end of march. normally 2months.

or change job. Last may i went for interview got 8k offer. but that time quite f***ed up because of family problem. so i declined.
but i love my job here..i've been here for almost 4 years and i don't think i will change job anytime soon..my carreer here is booming... director keep pushing me coz he wanted to promote me to senior position..but i'm still not ready leh..
dunno how long im gonna take to pay all these debts.. and i still need to get married..not yet lah..maybe in a few years time..

What type of "bargaining power" that the joker said? You can buy a subsale house that original price was rm300k but just a flip and selling for rm600k and yet you still can get 100%?
Credit rating no need to be recorded by credit card. By your bank account, EPF account also can tell how good you are. I already 2 years never take loan and yet I still can get it approved within few days.

Hey everyone,
Need some opinions.
Heres my status,

Main Income
Net income: RM 3900 (just started work, 1 year in june)

Expenses
Personal Loan: RM 1136/m (100k, 10 years)
ASB Loan: RM568/m (100k,30years)
Commuting: RM 540/month (trains/fuel/parking)
Car maintenance/service: RM 100/month (using gramma's unsused car)
Maxis: RM 100/month
Food: RM 800/month (inc. parents dinner)
Brother's insurance: RM 200/month (self insurance under company)
Gym: RM175/month (this is abit high but i do enjoy the luxury)
Enterntainment: RM 50/month

Side Income
Bussiness A: min. RM 2000/month
Business B: min. RM 300/m
Investment A: RM 550/month (was RM1400, but then they had to restructure thier program and I lost some confidence, so i took out 60% of capital)
Investment B (ASB): Expected about RM 8500 for this year.

I am planning to buy an appartment in 1-2 years time for own stay. Am I on the right track? From my calculation, if everything run smooth. I should be getting all my capital in 2 years, and should have enough deposit for a 500k apartment.

My company are giving PL for 1% a year, with reducing rate

I was thinking to reduce the outstanding amount of other cc too.

also, if I take personal loan RM50,000 for 5 or 7  years, how much should I pay monthly to pay back the loan? would it be below 3k?

Like for those 3 cc in a month I will spend almost 3k (1000 each card but as for citibank it does not reduce the amount because I have monthly deduction of 1000 each month like insurance, astro, internet)   

1. Always spend less than what you earn.
2. Save min 50% of your pay and then only start spending.
3. Do not let life style inflation get to your head
4. Do not let peer pressure get to you.
5. Maximise tax relief so you pay less tax
-every tax you don't pay is a RM you get to keep.
6. Use proper cash back credit cards. Don't get conned by bank ads.

Read this guy blog. He may be writing in terms of Singapore context but it's still applicable to us Malaysian. He have lots of articles for those starting out (you can see his must read articles on your right side)
ASSI
I read his blogs as I invest in SG.

Regarding putting money into EPF,  ask yourself
1) can you earn 6% risk free money on your own?
- the only risk we have is devaluation of our RM and financial health of our Malaysian govt
2) Do you prefer govt to work for you or you work alone?

For me personally, I won't put more than RM6k/year (max amount for income tax). RM6k is including those compulsory deductions. Should the amount does not exceed RM6k, I will topup to make it RM6k

Personally I like using spreadsheet to help me manage my finance. Because I felt much in control than using financial app.

[attachmentid=10239223]

Heres how I manage my finance:
*obviously the data isn't real.
After looking at this spreadsheet, I will put aside the overall balance to my investment portfolio. If I felt like I want to save more, I will put away Self Reward and some from Groceries to my investment portfolio.

Normally, I can save more than overall balance. But when theres a time I need to send my car for service, renew my license/passport, I will add the amount to Others.

Addition refers to Additional Income (Teaching, Grab, and simply web dev for example).

And as you can see, theres a months sheet. I update all of it .

I will look at this spreadsheet twice (and up to 10 times) a week. To make sure I follow the plan.

Recently found a quite good app for tracking expenses and budgeting. [URL=Money Manager : Budget&Expense by Realbyte Inc. https://itunes.apple.com/us/app/money-manag...d560481810?mt=8]Money Manager iOS[/URL]
Been using HomeBudget for past few years and found this is more detailed and more customizable compare to HM.

I'm aged 29 currently and working in office.

Nett salary RM 4,400/ (just found new job, start April 2020)
Side income - possible making RM600-RM800 per month coz just get grab license planning to drive grab clear off my credit card debt

Monthly expenses (Food + Grocery - RM900)
Parent RM 200
Rental RM 0 (stay with family till end of year 2020)
Car loan RM 525 (left 6 years more to settle) (9 years loan)
Car Petrol - RM350 per month
Renew road tax + Car Insurance = RM125/month
Car Maintenance average RM200 per month
Insurance RM62.50 per month
Phone RM 80
Internet RM 104.94
PTPTN Loan RM316.25
Entertainment RM300
Total Expenses Exclude Credit Card and Personal Loan Debt = RM3,200/per month

Mininum Credit Card Payment Per Month = average RM700 per month
Gross Salary - (Total Expenses +Minimum Credit Card Payment) = Balance RM500

Credit Card A debt  = RM1,000
Credit Card B debt  = RM3,000
Credit Card C debt  = RM2,500
Personal Loan Debt = RM2,080 balance left 8 months to pay/monthly repayment RM260
Total Debt = RM8,580

Currently my status still single, no gf, no house

Its my fault previously I have overspend and expecting got bonus from the company but after 7 years working I only get one year bonus. 2 months ago I went to get a PSV license to drive grab plan to clear off my credit card debt ASAP. I not sure my new job will be stable or not. I not surely have extra time to work grab to make extra RM600-RM800 per month. I cant think off any other side income other than work as grab driver. I am just hoping to clear off my debt ASAP and get some savings for my future planning. I hope you guys can gv any recommendation to me since Im in this kind of situation. Do you guys recommend me to do balance conversion plan for my credit card B & C.

Going through this thread, I can't help but feel there are so many ppl humblebragging here. Those earning >10k have no business sharing or pretend to ask for advice here, you are only bragging and trolling trying to make ppl here feel bad.

Earning > 10k, you are totally not in a pinch needing help managing money, you only need to not fuck up your business and income source, and don't waste money on lambo or mont kiara condo.

Oh, Hepi Birfdei!       

Hey guys, Just to update and share that when there's a will, there's a way!

I'm happy to report that I've managed to settle one card already based on my above enquiry. Next month will start paying the second card.

I even almost didn't celebrate Hari Raya Was deciding either to finish paying next month and enjoy raya or pay everything this month for that card and have a simple raya with family (I mean really simple, just cook some rendang, photoshoot and that's it. No visiting relatives and new baju raya etc.). End of the day I chose the latter and and after a week, I felt it's the better choice!