You won't be getting/using 100% of your salary as roughly 11% are deducted first for EPF and SOSCO contribution. You left only 89% of your salary to spend for the above items.

Did the programme give any salary figure as an example? Let say your salary is RM 3k, 15% is roughly RM450; far less than our normal monthly repayment figure which is normally RM600 to RM800; depending on your amount loan, HP interest and years of repayment.

This post has been edited by David83: Jan 6 2007, 01:05 AM

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.

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.

Why suddenly relate PTPTN in this thread?

Cannot have two savings account under the same principal account holder name. Perhaps one is under your name and the other will be a joint saving which your name is not the primary account holder.

Interbank fund transfer will need to pay for a standard RM2 charge. It's advisable to do it at the counter or cash deposit machine.

It's better to open an account at your hometown/home state as when you want to terminate the account, you need to go back to the branch where you opened the account.

The sales agent will arrange everything for you according to your preferences; preferred bank, preferred insurance company, preferred colour for your car and etc. Customers first is their principle; they don't want to lose you.

There's no optimum period for a loan. It's more depending on how much you could fork out for downpayment, how much interest you want to save for and how much you want to dig your wallet for monthly repayment.

If you're comfortable to repay up to RM 1k per month, I'm sure you don't want to drag the loan for so long.

This post has been edited by David83: Mar 28 2007, 11:20 PM

Depends on how expensive the item is and what's the financial situation at that moment ...

It's true that there're some people out there that practise such motivation but for me, I feel like it's not a good kind of motivation in order to save money and ended up you spend in on something. I only buy things that I needed.

Any specific bank or example?

No short cut to wealth, says DPM

KUANTAN: There is no short cut to wealth, not even via the Internet, advised Deputy Prime Minister Datuk Seri Najib Tun Razak on Friday.

Najib urged the public not to put their earnings and savings in cyber get-rich-quick schemes which he likened to similar scams popular some 20 years ago.

"There are severe and dangerous effects to the schemes offered through the Internet.

"Your entire life savings can go up in smoke and when this happens, your retirement days will not look that rosy," he told reporters after officially launching the Malaysian Unit Trust Week (MSAM) organised by Permodalan Nasional Berhad (PNB) at Padang MPK 2 here.

On Thursday, The Star published a report about the Securities Commission advising the public not to invest in some 50 online investment companies that were neither approved nor licensed by it.

Najib said the Internet investment schemes were similar to previous get-rich-quick scams that were so popular during the 1980s such as Pak Man Telo.

The public must be reminded not to be fooled by these schemes, he added.

On whether there were any legal means that could be exercised so action could be taken on the operators who used the Internet as the medium, Najib said the Government would have to look into the matter.

Earlier in his speech, Najib said he still received reports of people being duped by the schemes.

"Do not think that everything in the Internet is good," he added.

On PNB and its much sought-after unit trust products, Najib said it reflected the success of the Government's vision for the country's wealth to be fairly distributed among the people and it was something not to be enjoyed by a few privileged ones as claimed by certain quarters.

He added that PNB, which was conceived as an instrument of the Government's New Economic Policy, had been successful in managing its unit trust schemes and distributing sound dividends and bonuses.

It should silence critics of NEP who claimed that the policy was aimed at making only a few people rich, he said.

URL: http://biz.thestar.com.my/news/story.asp?f...31&sec=business

So, those geng is some sort like an online investment scum?

6 Ways to Earn More on Your Savings

1. Consider your horizons.
2. Invest in the market
3. Split your savings
4. Take on additional risk.
5. Consider your tax bracket.
6. Compare interest rates.

Read more at: http://biz.yahoo.com/usnews/080507/07_6_wa...nking-budgeting

How Real People Grow Their Wealth

1. Grow Your Own Food
2. Set Limits and Stick to Them
3. Buy Savings Bonds
4. Redirect Your Raises
5. Split Raises in Half
6. Track Spending
7. Spend Less by Budgeting
8. Save by Using Credit
9. Take Advantage of Rewards
10. Save With Coupons
11. Use Direct Deposit
12. Leverage Automatic Savings
13. Don't Touch the Money
14. Pay Attention to Progress
15. Save a Little Each Week
16. Check Grocery Store Ads

URL: http://finance.yahoo.com/banking-budgeting...ow-Their-Wealth