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Can You Survive With Salary RM3,000 If You Have Family? [ March 16th, 2010 ] | 280 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?

Considerations Before Applying Education Loan

student loan

Private Student Loans can help you to cover your cost of college education when savings, scholarships and parent aid aren’t enough. However, sometimes we need to know the student loans information in order to help you understand your responsibilities and avoid financial burden.

Nowadays, having a college education is not as cheap as last time. There might have students who are paying fees for their study under loads of debts. Once you graduate, they might find it difficult to payback the payments.