Im saving around 400~800 every month and Im 18 this year studying in college. It is enough?

If you think is enough then is enough...how ppl can help you determine this..if ppl claim save 10k only enough, can you do it?

It is good that you know the important of savings from college days.

Saving normally is a part ( let say 40% of your incomes ). Since, you are only a student , rm 400 to 800 is good.

Congratulation to you. And keep up the good work.

Are you serious? Still studying and can save about 400-800? You are working part time? Or your allowance is very high?

I come here with the attitude of a beginner to seek advices.

As an eighteen year-old, i haven't had the chance to earn my own dough. All along, my parents have been very protective and caring of me. Always providing the best place to stay, food to eat and clothes to wear and without my need to interfere with financial contribution to the household.

However, complacent comes along with such a comfortable lifestyle. And i think its time to stop and grow up. I want to be like other independent kids who earn part of their pocket money by balancing studies with part-time jobs.

A short-term goal for me is to generate an income of RM500/month.

Breaking down my monthly expenses (i'm a pre-university student staying away from home)

Accommodation- RM450
Food- RM300
Saving- RM120
Education (books)- RM60
Entertainment- RM120

To generate an income of RM500 a month, i would more or less be able to cover up my monthly expenses, except for rent. My ultimate goal is to earn enough a month to cover up the total living expenses, while increasing my saving to RM300/month.

May i know what are the ways/methods i can use to earn RM500/month?

I am willing to listen, learn and take action. Would be great if some of you here can share stories of how you balanced studies with work, or how you got your first paycheck.

--TheBeginner-

This post has been edited by thebeginner: Nov 14 2008, 07:46 AM

How is your study schedule? Work part time when you have days off. I was able to earn RM80 for 8 hours work (including lunch time). I worked in a branch office of a magazine company.

Thank you Anna.

My college schedule is monday-friday, with classes mostly ending at 3pm.

May i know what kind of work do you do at the magazine company?

You may try your luck in working part time for a market research company as an Interviewer

Schedule is flexible and pay is quite lucrative too for part time..you can earn up to RM50-RM100 per day

Tutor for primary/secondary students.

i would suggest you work only during your long semester breaks, like 2 - 3 months. you should still enjoy the support from your parents for now coz its not easy to work part-time and study and the same time. i feel that most ppl wouldn't reallly wanna do so unless they've got not much of an option (as in family financial support)

What are you studying currently? It would be good to work part time in the field you're studying.

Thanks, Notoriez. How do i find part time job with a market research company?


Thanks axymax. I'm good in English and Mathematics. What tutoring agency do you recommend?


I agree with what you said, Xing. Its nice to enjoy the support of my parents. But it feels guilty as the same time. Did you used to work part-time and study at the same time?

most of my friends teaching in home or tution center earning rm800 to rm1.5k.. teaching 6 to 8 hours per week.. alot of tuition center looking student like u.. good luck dude

I work as a part timer. But lately just resigned due to some personal problems. Currently trying to search for some part time job that is related to my study field (marketing).

Anyone has any suggestion?

tq

You can try http://mytalentedge.com/homepage.html
They offer structualised marketing internships.

I didn't go through the entire thread, but just incase no one else has posted, here's a free website that lets you manage your expenses.

http://journex.comexias.com

It lets you record your everyday expenses, keep track of monthly budgets and tells you where all your money goes. Also lets you know how much you would spend for the entire month at the rate you're spending.

this is so incredibly useful, thank you so much for sharing.

Yeah! thanks Novensiles. and guess what? more than 30 % of my current spending now on GOD DAMN CIGAR! uoooh nooo! this is so frightening!

Just went through the website. This is great. Thanks for sharing.

Its getting hard to save with the current economy and underpaid salary. That god the petrol price has been slashed.. from there can save at least rm100-200.

Dear All,

As we know tha the Economy crisis is here. Just wanna know how you guys plan to save on daily expenditure?

For me I think I will cut down on phone calls, eating out and also plan my journey to save more petrol.

Any good saving tips?

Thanks for sharing!