100+ - Handphone

I suggest you spend a few bucks and go straight to the pros in wealth management. Hire them to diversify and grow your wealth. It would take several hours and some money (1-3k per year) for a basic plan. It is certainly worth the money as you need not worry anything about it anymore and can spend your valuable time doing the things you enjoy with.

I'm working as IT/Admin Assist (RM1900 without SOSCO and EPF deduction)

Fixed Expenses
RM300 - Foods
RM250 - Transpor(fuel)
RM500 - Insurance(2 policy)
RM103 - Study Loan
RM  66 - Stremyx

The balance are savings..
any comment??

I'm pretty sure I'm not alone in the world with this kind of thinking.

Today I was in the local groceries and I wanted to purchase a box of Panadol. Now, they come in both 12 and 24 packs. The 12 pack is $5.99, the 24 pack is $11.49.

I stood there thinking, should I spend the extra money and get the 24 pack one since it is cheaper and keep the unused ones? Or just stick to the 12 pack one and save money?

This is a very basis of my question. It may seem like a small sum, but imagine putting this kind of thinking to a bigger scale.

Am I wrong to think like this?

if you are getting loans for your car. You must make sure that you have the extra to pay for the monthly installment and also petrol + maintenance. When I bought my car few years back, I did not take into consideration this 2 things. End up suffering with the installment loan. This is the result of no financial management knowledge.
That's one of my resolution for 2009. that is to be discipline with my saving and control my spending habit

Well, if you look at most people, in this time, even when they see bargain, they will forgo it as they foresee the property/equity will continue to fall. What I'm trying to say that if the investment is yielding better and has potential, we can just go ahead, not to hold until we are really at the bottom. Who knows....the day will never come or it might just be the day when you get the bargain. Most people rather keep cash till they are confirmed that we are out of the woods.
Besides, cash is trash is just a way of saying that the money should work for you and not the other way round as in cash is king.

got a noob question and sorry if this a repeated question, if someone dies, what happens to the money in his bank? do its given to his family or the bank eats up the money?

Just want to ask a few questions here ,

Is 10% to 20% profit per month for your investment is a good thing or just an average return ?

Thanks a lot guys.

but to invest can start with 1k de~ 1k use margin become 3k.
so the time limitation for 3 days. It's suitable for daily invest !! 1k can buy small stock like previous gens,knm-cd, proton-cb those stock. watch the news of those famous company and analyse the cart will do.
buy while it's low and sold out while it's high. i day earn 200 can accumulate about 4k per month. All depend on luck.
expert ppl can earn >7k per week just for daily investment ^^

I am currently still studying.

My dream: I love to travel. Priority will be given to those places where long haul flying is needed. During the first year of employment (in other words: first year after graduate), bring the whole of my family, join either the "7 countries" or "10 countries" Europe travel packages offered by local travel agencies. The cheapest for the "7 countries" package cost around RM8xxx per person. On 2nd year, travel to either America or Africa or Australasia. And, I also wish to sponsor the whole family for the whole trip if possible. And, for long haul travel, I will try my best to avoid low-cost carrier as possible, unless I have no choice.

My household spending:
1. Electricity: around RM4xx - RM6xx per month.
2. Insurance: RM1xxx per person per year.
3. Internet: currently using Streamyx CoolUniPack 4Mb package, RM88 per month, not including telephone call charges.
4. Water: RM4x - RM6x per month.

My own expenses:
1. Mobile phone: Reload RM30 per month.
2. Buying things: I will only buy things which I do feel I need it. And, when buying things, quality is the most important.

I am living in a city where transportation are very limited, no train, and my living area not served by bus. So, I must use my own car to drive to my future workplace. Plus, to avoid nightmare, I am not willing to rent house or rent room because I don't want to share room / house with any friends.

The expenses of electricity cannot be cut. For myself, I will only switch on air-cond when I feel the weather is hot, unlike one of my family member who will switch on the air-cond in his room start from he coming back home until he go to work on next day regardless of whether the weather is hot or not. I don't want to disturb his freedom in this matter. The room and the air-cond is his, he has the right to do it. And, my house consist of about 6 computers including personal laptops, which 2 of them operate 24 hours per day.

For internet, we can't live without it. 4MB is a must as there are a lot of internet users in my house. So, the internet cost cannot be cut.

Insurance is also unavoidable cost.

And, after graduate, I would like to join any toastmaster club also, which is again another expenses (around RM1xx for 6 months membership). This cost is unavoidable as I wish to improve myself on speech.

So, any financial expert, please advise how can I make my travel dream come true.

Travelling to far country with my family members is my hobby. I love travelling with family members, to far country.

Assume my salary is RM2200 per month.

For my household expenses, of course I wouldn't want to pay 100%. Every working adults in my family must take part in every utilities we use. For electricity, I will only pay 1 / 3 out of it, means around RM1xx - RM2xx. Lets just assume RM200. For internet and water, I will only pay up to 50 % of it, RM88 /2 = RM44 for internet, assume RM30 for water.

Mobile phone charges = RM30 per month. For car's petrol, assume RM30 per week, = RM120 per month. Foods, assume RM300 per month.

If no other expenses, then RM2200 - RM200 - RM44 - RM30 - RM30 - RM120 - RM300 = RM1506 saving per month.

Well, may be not enough for sponsoring the whole family. Sponsoring my family members is not a must since most of them have their own income. I just wish that I ever travel to at least 2 countries in North America, South America, Europe, Australasia, and Africa with my family members before I die.

1506 - 242, I still got RM1264.
In order to save money for travel, I won't mind to cut cost on grocery and entertainment. Talking about Entertainment, those original DVD quality at least 1000x more sucks than the one I watch online. So, no need to spend money to buy that. Accessory? I will only buy the things which I really need it.
Minus insurance, about RM11xx per year, RM9x per month. Assume RM95, I still got RM1169. I will always try my best to protect my car, driving safely, then no need to worry on car maintenance.
For Parking, I will try my best to park at the place where it is free.
If my future girlfriend truely love me, she will try her best not to let me spend money for her.

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Added on July 24, 2010, 11:06 am

Talking about salary, I can't demand much since I am just a fresh graduate, unless my employer willing to give me much more.

Beside my main job, I wouldn't mind to have part time job also. I am willing to sacrifice my time of resting. As a student, almost everyday I woke up early morning to do my assignment until the time I go to school, then continue doing my assignment after coming home from school until 2 - 3.xx am in the morning. I am very accustomed to this type of life already. So, in order to earn more, after working hours of my main job, I wouldn't mind to either work overtime or take part time job until mid night.

Which bank has this? All the while i thought it's a one time deal where we put a certain amount in and wait for the maturity date before we can withdraw or else the compounded interest will be lost.

FD interest rates are 2.7% now?
Savings are less than 1%?

So in other words , for old folks, children and housewives, No insurance protection is needed since they do not generate any incomes.

If you do not foresee  any of the followings in the future, then you are practically exempted from buying those related insurances. It is a waste of your money to do so.

1) accidents
2) illnesses
3) Death

my car loan period is 4yrs. actually repayment is 750. but i just make it round up so pay it 1k n get it faster.