2007 October | Malaysia's Financial Blogger | Financial Freedom Ideas

Can You Survive With Salary RM3,000 If You Have Family? [ March 16th, 2010 ] | 257 views | Leave a Comment

Do you think that you can survive with salary RM3,000 in Malaysia nowadays. Based on my personal survey, I noticed that in Malaysia, the average family income is RM3,000 per month. But, I do understand that there are still many families whose monthly income does not reach RM3,000.

monthly_salary

In order to make calculation simple, let’s take RM3,000 as the figure:

Electricity bill: RM40 (Assume no air-con, no water heater)

Water bill: RM10

Phone bill: RM100

Family meal: RM900 (3 meals on RM30/day)

Car repayment: RM450 (A Perodua Myvi, 5 years repayment)

Petrol fees: RM150-200

House repayment: RM550 (Assume living in low medium cost apartment)

Personal insurance: RM400 (combination of you and your wife)

Total monthly expenses: RM2,650

All the above calculation have not taken into account when you have own children. Besides, the EPF and income tax haven’t deducted. So, do you think family with salary RM3,000 enough to survive? Obviously, you will say cannot, am I right?

Maybank Structured Islamic Deposit

Maybank Structured Islamic Deposit ( STRIDE-i )

Maybank has introduced their new Structured Islamic Deposit and it is Maybank’s first Capital Protected Structured Deposit.

The Maybank STRIDE-i offers:
- 9.80% guaranteed returns upon maturity
- 100% capital protection with condition of held till maturity
- Investment period of 4 years
- Maximum potential returns of up to 38.80% which subject to the performance

Investment must be in minimum of MYR 50,000 and multiples of MYR 50,000.

October 31st, 2007 | Posted in » Bank & Investment | 1 Comment | 750 views

PB China Pacific Equity Fund

Public China Pacific Equity Fund

Public Bank will launch its first China fund, PB China Pacific Equity Fund(PBCPEF) today which is 23 October 2007. PBCPEF will invest mainly in China stocks and the balance in North Asian markets such as Japan, Korea and Taiwan. PBCPEF is suitable for aggressive investors who can take risk of market highs and lows to achieve medium to long-term capital growth for their investments.

The Chinese economy is projected to grow consistently at 11.2% for 2007 and 10.6% for 2008. Meanwhile, gross domestic product growth for South Korea and Taiwan is projected at above 4% for 2007/2008 as global demand for electronic products.

The issue price / NAV of PBCPEF is at MYR 0.25 per unit during the 21-day initial offer period of 23 October 2007 to 12 November 2007. During the offer period, a special promotion service charge of 5.45% of NAV per unit is levied. Investors who opt for Direct Debit Instruction with PBCPEF during the offer period will also enjoy the special promotion service charge. The minimum initial investment for the fund is MYR 1k and the minimum additional investment is just MYR 100.

October 23rd, 2007 | Posted in » Public Bank & Mutual | 9 Comments | 1,840 views

eCosway Alliance Bank Payment Card (Master Gold)

eCosway Alliance Bank Payment Card is specially designed for eCosway Business Owners and Cosway members to earn income when they spend. It make easy for normal people to profit from e-commerce. You can now turn your expenses into income by using credit/debit card affiliated with eCosway company.

It is no annual fee but the joining fee for Alliance Bank is only RM30 and eCosway is only RM100 (forever membership) which is very easy to cover back. There will not have any minimum income requirement.

I have my own Alliance Bank payment card since January of 2007. I still remember that I applied it at middle of October 2006 and it took about 2 and half month to complete the processing of my application. So, this is the only disadvantage when applying Alliance Debit Card. But, it is very useful and can earn lots of point that is beyond your expectation.