Saving for travelling but not emergency

Got one of my ex matriks gay friend melenting when i commented bole pg makan angin oversea tp xda duit nak balik mengundi or emergency saving at least rm5k

Some time u can see stupid advice in fb that say:
1. must go travelling when got money
2. Travelling is a good hobby
3. Travellers lagi happy compare non traveller

get crap degree
succumb to peer and societal pressures about what a good life should be (one should have an internal compass about what's best for one self at different stages of life)
victim mentality
boomers' fault for raising strawberry generation

millennials who?

lol complain coz fantasizing in forum, but reality have nothing

quite true

mati mati nak HIPstyle, and each style are expensive!

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AFAIK;
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Before the 1980s, local students were charged by local public universities about nominal RM1k tuition fee per year and many non-bumiputeras who were quota'ed out from qualifying for local public uni's seeked free uni-studies in a few generous foreign Western countries. In the 1980s, foreign Western countries began imposing high uni/college tuition fees on non-local students, including non-bumi Malaysians, in order to save on government expenditure. This prompted local private uni's to be set up, eg Kolej Damansara Utama, Sunway College, etc, in order to profit from demand for uni-studies by non-bumis.

In the 1990s, the local BN government began increasing public uni tuition fees, in order to save on government expenditure. At the same time, the government extended PTPN student loans to local public uni students who could not pay. Today, it costs about RM2,000 per year to study in local public uni's.
....... A few years later, PTPN loans were also extended to local private uni students, especially to many non-bumis. With such easy and cheap PTPN student loans available, private uni's took the opportunity to increase tuition fees to as high as possible, ie without decreasing substantial demand or recruitment, eg today it costs about RM38k per year to study in a local private uni like Monash U. Hence, today many non-bumi graduates of private uni's have to start off their working life with very high student debts.

Some bumis of local public uni's purposely took out unnecessary PTPN loans for profligate/show-off spending, ie even though their parents have already paid their tuition fees.

So happen also, in the early 1990s, the BN government heeded the advice of the WTO, World Bank and IMF to liberalize the banking sector by giving out easy and cheap loans to nearly everyone, eg from maximum 80% and 15-year house loans to maximum 100% and 30-year, from maximum 70% and 3-year car loans to maximum 90% and 7-year; from minimum monthly salary of RM4k to qualify for credit cards to minimum monthly salary of only RM2k, etc.
....... This banking liberalization policy allowed some people to buy many houses for investment/speculation purposes, allowed many people to buy new furniture, TVs, fridges, media players, etc on credit(eg at Courts Mammoth) and allowed even ordinary KFC and McD workers to buy cars and apartments = demand for such stuffs sky-rocketed = prices of such stuffs also sky-rocketed. Eg a DST house in PJ that cost RM150k in 1990 shot up to RM500k in 1994 and buyers had to wait at least 6 months to take delivery of their new Proton Iswara. The governments of the world could gloat about high economic growth and GDP, and rich boomers could take advantage to make huge profits to get richer at the expense of suffering millenials.

The rich industrial G7 countries have recently moved towards negative interest rate banking policy(= house loans at 3% to 4% mortgage rate) for the same evil reason as above.
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This post has been edited by lurkingaround: Jan 31 2020, 04:10 PM