When you are rich, you won't be like this.

Money changes people.

Thats the sad truth.

I have clients, that are super rich and also humble but they definitely wont buy a kancil to save. They will expand or venture into differemt busineeses to make more money that only you can dream of.

I do hope you are so proud as to not having higher aspiration to move up... its good to have discipline over money. But your POV will change as your income levels increase. Maybe your first 100k will nto change you, maybe your first 500k wont, but probably by the time you have 1,000,000 cahs in the bank, you might think differently.

U are right in many ways. But in marketing, sales and business industries, you are required to create a strong profile level to double or triple up your current income. Why? Because until today there are still many ppl looking at the surface only. Just like why ppl buy “Dato” title just to gain confidence of any trust to nego any new businesses. And now you know why all the insurance agent buy BMW and MERC to show. Just to do recruitment and buy client confidence that they are doing well in this industry, so that you dont buy a policy with a agent no longer service you in times come.

This post has been edited by furuku89: Jul 24 2018, 07:20 PM

wow, this thread just exploded today
a wise man once said, and i quote: The more I learn, the more I realize how much I don't know



most people aren't there yet to understand this, myself included.
but i believe it.

good point

Ok don't just say its bad, please explain yourself, i'm ready to debate. Just like your previous comment you are not explaining yourself, merely throwing insults holds no weight.

I think at this point , you might be slightly daft - making yourself seem foolish.

And when you explain yrself please put some facts and logic into your words yeah, your previous few comments you forgotten to include those.

Sure explain your thoughts, be glad to hear about it

Ad no i don't believe that he only uses RM30 fuel/month unless he drives 5 minutes to work everyday.

This post has been edited by cfkoon: Jul 24 2018, 08:34 PM

Interesting sharing and thoughts from everyone here

Our education minister should start looking into introduce some money management from nations

Hi Bro, beg to differ the statement "proud to be poor".

Let's be honest to oneself. If one is poor now but he works hard to earn money legally and becomes rich one day. That has to be "proud to be rich" because he does what it takes to be rich legally. I supposed the only odd possibility that one claims he is "proud to be poor" is when he is asked to do something illegal/ bad that are against one's conscience. So bro, we might not be in a desired financial situation right now, but never be "proud to be poor". Have an open mind to find ways/ work hard to be rich (according to your own definition) to have a better living. All the best!

Separately, i am recently reading a book that talks about finances, which i find it makes sense. The book says that there are 3 choices in life for us:-

1) To be secure
2) To be comfortable
3) To be rich

Most of us put security as our priority, followed by comfort and lastly to be rich. I looked around and reflected my own experiences, that statement is indeed factually correct. Most parents encourage their children to study hard, get good grade in school so that they can land a good job in the future. Good job provides security. I am one of the many that placed security as my top priority too.

The author further explains that the difference between a rich and a poor is that the rich people place "to be rich" as their top priority (instead of security). However, it comes with a caveat that notwithstanding "to be rich" is their priority, they are first required to develop their own financial plans to be secure and comfort. Only when you are financially secured and comfortable, then you can start to do things like the rich people (invest or spend like the rich). This caveat makes total sense to me.

My learning point is - let's assume everyone aims to be rich. But there are different stages that we have to go through before reach our final aim (which is becoming rich). We need to develop our financial plans accordingly. Some of us may now in the first stage, working hard to achieve financial security. The others may be already in the end of second stage, having the financial comfort and venturing into the activities of the rich society. Having said, let's not assume that everyone can become rich by just following the aforesaid step plans. I strongly believe that there are thousands and millions of factors that will play a part in determining whether we can reach the final aim.

I believe each reader here has his own position/ status in the financial world. Hence, it is not compatible if one in Stage 1: Security is having a financial debate with someone in Stage 3: Rich. It will be really helpful if those that are already in Stage 2 or Stage can share more useful tips to people in Stage 1, so that we can learn and take you as a role model. Thank you!

4. Regardless of amount, still, your “ability” of not getting help from banks is replaced by relative loan. If no generous relatives, like most others, bank is your only source

5. For a freshie, even RM1k is a struggle without daddykasi. In KV, no car means no legs. Your choice of job is severely limited. Imagine if you don’t have the family kancil and no relative’s help, your initial working life will be hell

6. Speaking about daddykasi, if no parent support, another of your expense will be repaying PTPTN. BTW how much is your medical degree cost your parents ?

Yes, that cfkoo fella suggest to leave money in the banks. That’s why I was puzzled you share his view

FD is the worst investment idea to grow your money

Haha, I must confess I also reply like in /k to that cfkoo fella as he uses the same tone....

My expenses for family of 2. Just me and my teen daughter:

Housing Loan RM3200
Other Property Loan RM2000
Rent (Before move in to house next year) RM1000
Car RM800
Tuition Fees RM1000
Pocket Money for Daughter RM120
Petrol RM500
Tolls RM300
Groceries RM400
Eating Out RM1000
Cat Food RM50
Electricity - RM60
Internet - RM150
HP bill - RM130
Insurance - RM1000
Savings including EPF - RM2000
Emergency Fund (In case of emergencies and will be transferred to savings or used to pay off some of loan at the end of year) - RM1K

Yearly
Holidays RM30K
Educational Seminars RM2K
Road Tax Insurance RM1100
Car Repairs and Maintenance RM1200
Angpows RM2000
Presents for family and friends RM3K
Quit Rent and Assessment - RM2.5K

This post has been edited by cynthusc: Jul 25 2018, 09:03 AM

Haha that's why it's abit hard to talk to illiterate and daft ppl like you n MeToo. but it's ok, i cannot assume everyone to be educated.

I merely said FD can outpace inflation. I also did say that if one do not have the capital yet, grow your money organically until you do for better investments.

Merely from our conversations, already can see some ppl that are those that think they are "investing" in real estate, take loans, reinvest - possibly those that play abit of stocks or FX. then think they are, as they term, richfags.

As for me, I only do not so sophisticated invt like retail bonds, hedge funds, and dual currency. Can't compare to those invt mentioned above.

Looks good I would say. Balance in lifestyle, family and self-investing

You think FD can beat inflation, really tells a lot. No further explanation needed.

You says people rush to buy car it's financing liability, how many states in Malaysia have the convenience of LRT/MRT? There are areas that public bus doesn't covered except Grab/Taxi and how much is that per trip? What about meetings on different locations at different times? At this rate people will be spending hundred per day taking public transport, is this realistic?

500k FD and people won't feel the impact of inflation? Probably they won't feel it now but as time goes by the time value of money will comes into play.

It's a different story, if you can get a few thousand of FD interest a day. I know someone who get this sort of FD interest alone, and I'm also sure they are not driving any Perodua/Proton nor living in a 1,000 sf houses. And he's still doing his business despite all the wealth.

Ramjade, you say you would spend money on overseas trip. What's the difference between buying a new car? Both also requires to spend money. You get nothing in return for the overseas trip except memories but the car can give more than that

This post has been edited by rapple: Jul 25 2018, 09:27 AM

monthly fixed expenditure

Car loan (honda city 2015)- 500
Housing loan - 1500
CC loan(Left 6 month)-400
Insurance - 250
HP - 150

monthly variable expenditure
Petrol - 240 ~ 300
Entertainment ~150

Thanka. No point in earning money and not enjoying life and improving oneself.

Quite standard for single. Almost same as mine as a single too
I tend to spend more on entertainment and food since I'm living alone and have more friends to splurge with me lol

Good one bro, your thinking is right. Everyone started out poor and work their way up to be rich. I know you will make it there FASTER because u have the discipline. I know you are also striving to better yourself financially, instead everyone is bashing your "proud to be poor".

Some ppl here don't know how to be financially independent, dont know how to grow wealth - but act smart preaching the wrong idea to others. possibly have peanuts in bank acct, cash locked up in real estate (but consider asset also la)

Its the mindset that seperates the rich n poor.

Argument fail cause u cant seem to back it up. Haih so many people can't und simple terms, I have to spoonfeed and explain lo.
FD can outpace inflation (not alot la, maybe sometimes also zero, sometimes less than inflation depending lo).
FD can't grow wealth, you want to grow wealth - go for investments. Very simple.

Buying car IS a financing liability, fact. However if work requires you to, go ahead. What I advice is get one that suits your income capabilities, but at the end of the day - its a depreciating asset, its a financial liability.

Basic cost of living sure won't feel, want to buy house sure will feel. Buy house is a choice, not a necessity (unless you really no roof over your head).

And yes with that sort of returns, i'm not driving perodua or proton - and i also still go to work. but ramjade and you are not getting that so dont bash ramjade lo. and coming down to his spending, its his choice lol he derive more value from overseas trip than car, ppl make choices also want to question (no one question what you eat for lunch right)