I'm agreed with goldfries. The expenditure looks normal. Just that under your "CC and Personal loan", you didn't specify how much you used on average every month.

Try not to attach too many things onto your CC. Set a personal limit.

Greetings,
I would like to know .. do you all think that a person with the salary income of below $2,000 MYR .. is capable to get a car ? Doesn't matter its a brand new or a used one ? Currently I am facing with some difficulties in clearing debts as well ... accumulating almost reaching the amount of $3,000 MYR

Regards,
Hughie

As long as you able to get your HP loan approved with the usual thumb of rules: minimum basic salary == 3x your desired/calculated monthly installament. Try to get a loan from Ambank or PB since they're not that strict.

Hi, something to share here, and do check out the other nice articles they have.
20 ways to save on a shoestring

A couple of good tips I use from the article is "Whenever you get a $5 bill, put it aside" and "Live on your previous salary".

how embarrasing am i. i earn RM6.5k per month but still failed to save any money.....

Usually is allocate 1/3 or 1/4 of salary but you're going to be quite tight on budget.

Hi Beez,
Of course i m planning to get married with her lo, we have been together for almost 7 years ... ... it is a bit too late for me to start having joint savings, but anything will not be too late as long as there is a start of the efforts. So, i am gonna start it now.

Hi Felice821,
That's the reason why we mentioned at least 10% of your income goes into forced savings. No matter what, just don't touch that money, even no underwear to wear also cannot touch that money ... haha ... but that will be a bad example of underwear that i gave lar. I mean, that savings should not spent on luxury materials like upgrading pc or changing hp & etc. It should be purely savings. In fact my starting pay was just 1.8K and i do have study loan and insurance to clear. And i still manage to survive, now my pay had already double what i have earn previously, but i only manage to have small amount of savings only. In fact i should have more savings, but i fail to do so because i fail to manage my financial properly.

Let's all together start savings !!! ... haha ... let Malaysia economic down !!! .... Actually government will feel happy if we spent more ... haha ...

This post has been edited by jootat: Jan 8 2007, 03:04 PM

Wow, a good thread ! Esspecially the financial budgeting software which is far more superior than my every month's crude excel ledger spreadsheets

Bravo to everyone contributing here

Personal Loan + CC = 31.5k
Ppl owe me = 20k (if i can get it back, then i might can breath)

I didnt used much on my credit card, is just petrol, insurance and phone bill. Sometime if got makan a bit expensive then charge CC la.

Haiz..Same here..2.6k cant save, now 3.5k also cant save. Start saving, i think need to clear off my debts first la.

Ya. I was wondering .. how am I going to be able to get a better pay job ? Currently I am really tight in the budget Any guidance from you guys is much appreciated

Regards,
Hughie

My salary got RM1700 after epf & socso. My expenses in one month are less. Rental house, car installment, car petrol & roadtax, maxis bill all are paid by my company, i only expense my insurance RM900 monthly. Is that too much i pay my insurance? Comments, thank you!

Of course you need to settle your debts first, i set my target last time to settle my loan last time. Simply because i do not want to drag it too long until i kena sucked a lot at the interests ...

So, now is beginning of year 2007, let's set your own goal and try to achieve lo, when u achieved it, you will feel satisfied as well.

Hi friend, you are earning 1.7K and you had pay up your personal insurance RM 900? That's a bit too much rite? I not sure lar, but personally i feel RM 900 per month of personal insurance is really terror .... haha ... who is the benificial ? Your parents? You not scared they kidnap you or kill u for the insurance money ar? hahaa ... jk btw ...

wa RM900 p.m, RM10800p.a of insurance. how old r u?? 20++. Normally only rich dude pay such amount, definitely not a typical dude earning 1.7k p.m. I think u hv been trick by insurance agent into believing insurance is an investment. It's not, its just an instrument to reduce the risk. Insurance is not a good investment anyway. Just my 2

In my humble opinion, I guess $900 MYR for insurance coverage is kinda too much based on the current salary range you are into. If I were in your shoes, I think I will go for insurance coverage ranging from $1xx to $3xx MYR is more than enough for me.

I also hope that the company can bare the expenses for me just like you as well ..

Regards,
Hughie

yalor, after my increment ~20%, still i feel not enough. i have been spending more than usual.

ehh. that would be the jobs and career section leh?

no harm looking around for greener pastures, as long as your expenditure doesn't scale with the income then it's usually fine.

it's those people who scale their expense along with increased income that can't save.

Actually my insurance is like that as follow:
1)Prudential: 180 (sudden death + other disease and etc) + 320 (Investment for 25yrs, after 25yrs got back around RM380K with running compound interest + unit trust funds)

2) Great Eastern: 200 (sudden death + other disease and etc) + 200 (Investment for 25yrs, after 25yrs got back around RM120K with running compound interest + unit trust funds)

Total:RM900

Every month my expenses only pay for my meals and insurance, so still got RM800 i can do whatever i want, or can invest in another firm. I think RM900 ok gua? Correct me if i'm wrong.

This post has been edited by rstusa: Jan 9 2007, 08:19 PM

Why do you have two insurance that cover for the same stuff?

Also, is the 380k projected return or actual return?

Is the unit trust operated by your insurance provider themselves or are they outsourced to someone else?

This post has been edited by Geminist: Jan 9 2007, 08:36 PM

380k is not a guarantee but the amount will be around 350k to 400k, see the unit trust performance.

The unit trust is operated by my agent insurance provider.

HmmM .. I agreed with you. I was just hoping that better offers will appear in my Life because I cant really sustain my Life cycle with the current working environment.

HmmmM ... thanks for replying. You are making insurance as part of your money investment as well ? Previously I have a friend of mine who proposed me the Prudential PruLink plan and then I was considering about it ..
What is your opinion about that ?

Regards,
Hughie