If you notice, i never shared complex content, never argue on anything on my sites, and did not post too long posts.
i always keep it short and never shared about political views and never post finance detail related. One thing on the internet, i always considered my articles or any kind of work that i do on private mode..
The articles would be on copyrights state and never considered myself as a reference to others. My experience taught me that,
No matter how different field we are, never thought that we are much better than anyone else. He or she might be very good at communication skills, we need to learn that.
The moment we thought we are above than anyone, that is the moment we have failed.
In fact, having degree is not a greenlight to say that, i am gonna have a pretty well career. How many of the graduates faced the unemployment? This may a verdict towards, what is the point of learning...
You learn because you are human that seeks knowledge and by this stepping stone, you will help yourself to understand some areas better and continue to do that in life. Anyway, i dont deny the fact that your pay would define your life to make a living. Hence, i will share some points here.
The rule of thumb is, know you pay every month and your commitments.
Ok first and foremost i'm not a financial planner, i'm not a financial guru, i'm no one and i share this based on what i did when i was younger and what i didn't and i regret.
It is best to do early as you can. never ever ever do it when you are almost broke, but once you almost there, stop. Do this step, seek AKPK in the mean time..
For young adults, if you just started your career, know your basics, after socso and kwsp, let say your pay is RM 1900 (diploma holder). Do not buy car yet, if you can use a motorcycle, do that, because what, your gonna make a saving on ASBF for RM50,000 cert. This would need you to encounter RM275 per month for the first year, and the second year, you're gonna roll the profit that you have gain on previous months of the first year.
After deducting your commitments toward parents, rental, commute fees, and meals.. you barely have nothing, but this is for your best. Let say you wanna buy a car, a year you have made RM 22,800,you should spend not more than RM11,400 for a car, and not to forget..we have road tax here, emergency funds for emergency, car service. You should never spend more than 50% your pay for a car.
What i did was:
yearly compounding on dummy account.: every month i save RM100 and when it reaches december, i had RM1200. I save up on dormant account, let say my main and salary account is in maybank, i open up cimb for this saving. This is a dormant and after that i transfer to asb or TH. simple kan..
What i didn't was:
i did not make asbf because i was afraid of the loan. Loan does not mean that bad, it can be a good loan too.
What if you are already sailing into the harbor on your middle of 20's and more?
Man.... this is tough... really really tough.. Frugal is the word to have a financial stability. You will need to restructure your commitments with bank, let say you have a personal loan, counter with the banker "do i have any option to settle my commitments" "what is my current interest, can bank give me a discounted interest?" Normally personal loan would be up till 10%. gila kan.. and normally a person that have a commitment need to pay almost RM400 plus for 10 years or more, depends.
Jangan sesekali biarkan commitments kita reach maximum level and do not let bank call us.. why? that could be the reason the bank give us a warning or worse, dejection of the property. Iaitu tarik kereta atau seize our property. Careful.
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