Malaysia Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Get The Best Deal On Car Loan

One of the dreams that normal people will probably make is going to have a car. Even the fuel price is skyrocketing nowadays, it seems a car is still something that everyone needs.

One of the crucial things that you should know is your car loan. For those who did not research on car loan will end up with spending much more than they need to. After they found a good financial loan option, they should plan how much could they afford to pay for their down payment as this may help them save more interest charge in future.

As a rule of thumb, the sum of your monthly car payment, and maintenance fees should not more than 10% of your monthly income.

Important To Choose Investment Style

Knowing what is your investment style are will help you to choose investment type more accurately. There are really only 3 specific investment styles, which can be conservative, moderate, and aggressive.

Naturally, if you found yourself have a low risk tolerance, then your investment style will most likely to be conservative or moderate. In contrary, if you have a high risk tolerance, you will most likely to be an aggressive investor. Meanwhile, your financial goals will also determine your investment style.

Conservative investor want to maintain their capital in their investment. This type of investor usually invests in common stocks, bonds, unit trust and interest earning savings account. Thus, they are more likely on early retirement. I am one of the conservative investor and have an unexpected huge amount of money put into Bank Fixed Deposit. This is just for preparation or cash flow at best.

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EPF Top Up Saving

Malaysia’s national pension fund EPF, was ranked the 8th largest fund in the world with US$94.66bil. Do you believe this? Apart from investing in domestic assets, EPF continues to enhance to diversify its portfolio into foreign markets particularly in equities.

Although you are not believe with the above facts, but one thing you should believe is you can top up in your EPF Account 1 in order to maximize your retirement savings. The minimum amount for each top up is just MYR 50.00. This saving can only be withdrawn when the toppee reaches the age of 55, or Death.

There may not have strict policy to be a Saving Topper:
- He/She may be a Malaysian or Non-Malaysian Citizens.
- He/She need not be an EPF member.
- He/She may top up to more than one Toppee.

There may have some requirements need to be met as a Saving Toppee:
- He/She must be a registered EPF member.
- He/She must not exceed the age 55.
- He/She must be either a Malaysian citizen or a Permanent Resident.

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Penang Island House More Expensive?

What I notice something seriously is the Penang landed housing property is going up tremendously. Realizing the Penang land price expensive, it is normal scenario to maximize the profit by building either luxury condo, three stories houses or bungalows.

I have lived in Penang for more than 20 years and I do feel on the rising prices of landed properties in the Penang Island. It’s almost impossible for an average working class to own a landed property. Some going to above MYR600k and some could reach millions of ringgit. As a result, only the upper income group or foreigners can purchase these types of properties.

The building materials price keeps on rising due to fuel price hike and shortage of supply. This has brought huge impact on the construction cost. The developers face the challenges because if it is oversupply, then the prices may drop, or the units left unsold. So market forces will ensure that they cannot keep building higher end units.

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Why Bankruptcy?

If someone who has officially declared that he cannot settle the amount that he owes then he will be considered as bankrupt. In Malaysia, the minimum amount of judgment debt amount to declare bankruptcy is MYR30, 000.

There will have 6 months for you to make full settlement or negotiation after the bankruptcy notice is issued. If you did not response, you have committed an act of bankruptcy.

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