It really depends on what you want isn't it? Not to mention the monthly repayment of that purchase vs your total disposable income.

Take my case for example, I bought my current house at the age of 26 after I have saved enough spare funds even after deducting the down payment, lawyer fees and misc charges. My monthly loan repayment is definitely below RM 1k (currently about RM 800) but I give a buffer for BLR to increase and what not. In addition, it is also my ONLY loan repayment as I have saved up from my working years of 24 to 25 to purchase my current second hand Proton for cash (which I would not be replacing anytime soon as I maintain it in top notch condition).

When I hit 26 my dad found a nice area with a surprisingly good price and I took the plunge as I don't really have any money burning habits except maybe some toy collecting

And that's my story of purchasing my home. And no, I don't skip on TT sessions but even that rarely happens as most of my friends prefer to chill at home when they are at their hometown but we do come out and talk some crap once a month or so

On a side note, when I made the plunge at 26, I still manage to save over 20% of my income back then after deducing the loan.

If you ask me, I think the biggest problem for youngsters these days is that they have a certain threshold of what is acceptable to them such as:

1. Must definitely drive a brand new Japanese car
2. Must definitely own a condo price 250k and above
3. Must have iPhone or whatever phone
4. Must spend the weekends clubbing or some fancy food outlet

I'm not saying those lifestyle mentioned above is bad, it's just that most of them don't have the income level to support ALL at one go. Ok, I've been ranting too much so I better stop now

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Added on September 25, 2010, 8:04 amNo, your portion of the EPF deduction is 11% while the normal rate for employers (a.k.a. your company) is 12%. So if you earn RM 2000 gross, your EPF deduction would be RM 220 while your company would be RM 240. In total, RM 460 would be channeled into your EPF account. A while back, the government did allow the employees' portion of 11% to be reduced to 8% (during the economy crisis as a tool to encourage the people to spend) but I think that it is now back to 11%.

As for the banks' 16%, it would mean your boss is paying more for your EPF but your portion of deduction remains the same. Taking the RM 2000 example, if it was 16%, the bank would contribute RM 320 into your EPF and you would continue to contribute RM 220 making the total RM 540.

This post has been edited by jeff_ckf: Sep 25 2010, 08:04 AM

jeff_ckf... very well said

i can see 90% of youngsters are doing the same thing struggling hard in their 1st Rat Race...and yet still keep complaining money not enough, thought changing a better job will solve their money problems. - THE ANSWER IS NO



This post has been edited by cscheat: Sep 26 2010, 07:08 PM

my brother working for a bank, he check gold price most everyday. and now Im taking a part-time job, though can only earn me 200-300 bucks a month, these money become my saving.

Frankly speaking
This is scary answer, check price everyday mean they know what is current price of particular gold class price only

But it doesn't mean know how to verify the purity of gold.

Bank is buying/selling mostly 999 gold, mostly in virtual form.
It doesn't relate to 916 physical gold you are buying.

Although both correlated, it doesn't solve the issue how to verify the valuation of physical gold you are buying.

I got my cousin open "kedai emas", and my mother also sell emas before. I never take granted for anything that is expensive. I asked for advice before make any decision to buy gold.

since my big family done jewellery business, that's why Im also interested to invest in gold.

still, thanks for your advice

Please proceed to V2
https://forum.lowyat.net/index.php?act=ST&f...&t=1577849&st=0