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 What's your monthly expenses

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post Jul 31 2018, 04:03 AM

Wee wang wang
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QUOTE(Ramjade @ Jul 30 2018, 01:53 PM)
The below is best example for single person ticket.
Come come I teach you.
Movie ticket you don't buy weekends la. Weekends they jack up price.
Some shopping mall RM1/entry (not count by hours). Some got commercial parking opposite/near mall where got lots of kopitiam. Park your car there. Free parking after 5pm. Walk a bit la.  doh.gif
Always always pack a bottle of water with you when you go for movie so that you don't end up buying over price soft drink.
Always always eat something before going for movie. Make yours some bread or eat dinner straight.

After movies go home straight,  no need to linger in mall around. The longer one linger n mall,  the more tendency he/she will spend on first get food.

If you are staying 10-20mins away from the mall, your petrol cost is practically neglible for small car. If big car then devil.gif

Use credit card for your movie ticket. Some offers like rebate RM2 off, some offer like free ticket with purchase so you drag your friend along and split the bill. devil.gif
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Like this can get amoi or not?
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post Jul 31 2018, 08:17 PM

Wee wang wang
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Senior Member
2,065 posts

Joined: Feb 2011
QUOTE(wongmunkeong @ Jul 31 2018, 10:19 AM)
U do know i'm NOT hiding behind a login pseudo-name right? Thus in detailed $ is asking for trouble.
Theories? U wish heheh - sorry, no excuses to hide behind.

As a % of ACTIVE INCOME (like what YKLooi suggested):
Necessities: 55%+/- (depending on when insurance payments hit). Note my mortgage is 0% or near 0% - flexi mortgage with prepayments
Optional Education: Self & kids 10%
Fun / Feel Good: Self, love ones + team members 10%
Savings for buffer & investments: 20%+ (depending on when insurance payments hit) (excluding EPF)
Gifting / Charities: 5%

If there are windfalls like yearly bonuses, i save for buffer & investing, on average, 50% with minimum 20% of the windfall. As for passive income, 100% re-invested/kept for investing. Running life like good biz - cash flow planning, liquidity ratios, debt/equity ratios, ROE pa tracking, etc.
Funny huh - what's good for a biz's "management cockpit" is good for personal financials too wink.gif

single / married? how many heads expenses? Married & more than 4 heads to provide for
bought own house? type of property - own
how many kids you have? more than 0
kids school fees / tuition fee? foreign + local currency cost
need to take care parents? how many heads? yes, spouse's & mine
living in parents house? i wish..
no car loans? what type of car? 1 loan but "self-funded" - ie. the $ for the car is in investments paying more pa than the loan's effective rate pa., 2 cars
no buy insurance? for how many heads - more than 4 heads' medical, just my death insurances

Bottom line, i've set up insurances trust +testamentary trust to ensure my kids dont get bad spending habits if i kaput too early to keep guiding them till they are more than able to stand by themselves. Thus, theories? Naw, it's executable - just how hungry one is to reach them goals. Again, back to priorities, like what most of us (Cynt, YKLooi, Ramjade, etc.) have been sharing.

There's no right/wrong - just what we prioritize, NOT lalaland theories nor avoidance of possibilities. notworthy.gif
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Side track a bit...what is testamentary trust?

PM me thumbsup.gif
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post Jul 31 2018, 09:29 PM

Wee wang wang
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Senior Member
2,065 posts

Joined: Feb 2011
QUOTE(wongmunkeong @ Jul 31 2018, 08:32 PM)
lazy heheh
copy & pasted from googled https://kclau.com/estate-planning/how-to-us...ones-and-asset/
Types of Trust

There are three kinds of Trust. Let me start with the Living Trust and continue with the Testamentary Trust. Living Trust is the person still alive, the asset is under the person’s name and he/she setup a Living Trust. During his/her lifetime, he/she need to transfer the assets that he/she currently owns to the Trustee name. But for Testamentary Trust, when the person is still alive, the asset is under the person’s name. When the person is dead and gone, the asset is still under the deceased name until the probate is granted and the debts and income tax are cleared, then the Testamentary Trust will only be started.

In simple terms:
1. i die
2. My Will creates the Trust & certain assets in my Estate goes into the trust to be managed as per my written instructions to the Trustee, for the benefit of my beneficiaries (and charities).
3. reach a certain amount left, dibubarkan
OR reach 80 years, dibubarkan coz when i set it up, max "lifespan" of such trust = 80 years.
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Now back to topic tongue.gif

 

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