Tyrael 0 Report post Posted July 26, 2008 As topic above. Do you practise saving? Quote Share this post Link to post Share on other sites
ƒatal 0 Report post Posted July 26, 2008 At times, this is a personal issue, im sure not much people would like to share to the public how much they have in their accounts. Quote Share this post Link to post Share on other sites
fred 0 Report post Posted July 27, 2008 I try to save..... when is needed, most of them will be gone. So far I still can't set aside certain saving that is untouched.... not enough money yet Quote Share this post Link to post Share on other sites
flyboy 0 Report post Posted July 28, 2008 saving is a must. I got 6 digit in der bank Quote Share this post Link to post Share on other sites
Cas 0 Report post Posted July 29, 2008 I regret splurging money on clothes and bags unnecessary when I first got a job because I now realized that $ could have been put to better use eg: savings. Anyway these days I’m trying really hard to save up so it’s all good, am almost reaching my target. Quote Share this post Link to post Share on other sites
BabyHudu 0 Report post Posted July 29, 2008 Congrats Cas! I'm also trying to save as much as I can. I too spent a lot of my salary when I started my first job. Kinda regretted it. But what is done is done. I try to save more than 50% of my salary every month. But there are always hidden and unexpected expenses every month. Sigh... Quote Share this post Link to post Share on other sites
Joukowski 0 Report post Posted July 29, 2008 (edited) LOL - got no idea probably - probably RM 1M in cash but -RM1.5M (yep, negative - I owe the bank) in other accounts..... but really no idea because the change of property prices & share market.At the end of the day i think money is earn to be spent - you can't take any of it with you - but you can be taken from this world at anytime. Keep enough money to tie yourself out of a difficult time but don't over do it because you'll really end up with lonely life. Be prudent with what you spend on, and spend to improve your quality of life. Edited July 29, 2008 by Joukowski Quote Share this post Link to post Share on other sites
PinkyGal 0 Report post Posted July 31, 2008 6 digit good enough for age below 25years old... Quote Share this post Link to post Share on other sites
loveholic 0 Report post Posted July 31, 2008 wow...if i can have 6 digits in my acc before 25 years old, it would be a miracle... Quote Share this post Link to post Share on other sites
millie 0 Report post Posted August 4, 2008 wow...if i can have 6 digits in my acc before 25 years old, it would be a miracle...LOL, I seconded that. I haf a couple of thousands now in my account, but that is for my trip to Perth. After this trip Im back to square one. Nil. I tend to save for my trips only, sigh~ Probably should really save some for rainy days. Just started working for a few months only, so tend to be careless with spendings. Huhuhu~ Quote Share this post Link to post Share on other sites
liyen 0 Report post Posted August 5, 2008 My company just launched an investment product in which you pay guaranteed 6years only and every 2years you get a guaranteed cashpayment. For more details PM me. Fantastic product and sold out last year. Now just launched again and selling fast. Limited fund size. Quote Share this post Link to post Share on other sites
flyboy 0 Report post Posted August 12, 2008 to be frank, it is harder to save money now compare to our dad's time.more things to spend on and things are more expensive...although the pay is much higher now Quote Share this post Link to post Share on other sites
Sir Lucifer 0 Report post Posted August 12, 2008 Im not trying to be political here... It has to do with the value of our Ringgit which is tied to how well the Government is managing the economy. So RM1000 can only give you actual value of RM500 maybe, decreasing your buying power. I try to save 30%-40%, with additional 10% for trips. Kinda hard, since I'm a shopaholic and foodoholic:D Quote Share this post Link to post Share on other sites
Kirst88 0 Report post Posted August 12, 2008 While you are saving money, you also need to consider what do you do with the saved money. If it's just sitting in the bank earning FD interest, then you're not growing your money. I heard from somewhere that is is recommended to keep about 6 mths of your monthly salary in the bank... for emergency. The rest of your money should be placed into investment to earn higher interest. I think it makes sense. With the inflation rate and all, your saved money should be getting higher % return than the inflation rate. Otherwise, your money is not growing, it is shrinking in value (or if you are lucky, it is maintaining its value) Quote Share this post Link to post Share on other sites
cheesepie 0 Report post Posted August 13, 2008 Trying real hard to save as much as i can...but .....it is hard nowadays especially after the fuel price increased... Quote Share this post Link to post Share on other sites
hihi 0 Report post Posted August 13, 2008 While you are saving money, you also need to consider what do you do with the saved money. If it's just sitting in the bank earning FD interest, then you're not growing your money. I heard from somewhere that is is recommended to keep about 6 mths of your monthly salary in the bank... for emergency. The rest of your money should be placed into investment to earn higher interest. I think it makes sense. With the inflation rate and all, your saved money should be getting higher % return than the inflation rate. Otherwise, your money is not growing, it is shrinking in value (or if you are lucky, it is maintaining its value)that right, six months is ennough for few month jobless Quote Share this post Link to post Share on other sites
Kirst88 0 Report post Posted August 13, 2008 hehe. but i actually have less than 6 months emergency cash in my bank. Put a lot out for investment. Other funds can give u better returns.... Quote Share this post Link to post Share on other sites
junely 0 Report post Posted August 14, 2008 Savingin the bank is veryimportant, but yet.. too liquid to withdraw to buy lovely stuff.i usually put in other place, some Share, some UT, make sure the MONEY GO TO WORK, DON'T STAY LAZY!!! Quote Share this post Link to post Share on other sites
Cantopig 0 Report post Posted August 15, 2008 Hi babes,I want to ask that normally wat age u babes will start to save money in bank? Because now I like 19 d but i still haven start yet.. Should i start to plan now? Sorry if I a little bit out of topic. Quote Share this post Link to post Share on other sites
Joukowski 0 Report post Posted August 15, 2008 Hey guys savings is really not that hard. If you put jsut RM10 away as savings everyday starting when you're 20 yo, in 35 years when you reach 55, you'll have RM127k. When your earning power increases you'll be able to increase you daily savings. The key is being able to put a bit of money aside everyday in order to meet your savings target. Saving real hard for 6 months and blowing it all in one big purchase just sets up back to square one. Anyone can develop a savings plan, the difficulty is having the discipline to stick with it. Quote Share this post Link to post Share on other sites
BananaEagle 0 Report post Posted August 16, 2008 I dunno, my principle is, money is liquid. And i'm a student living on a loan so technically, the money in the bank isn't exactly "savings", its more like "future expenses". However, I did have savings - and I put them into "investments". But then I don't exactly seperate my "future expenses" from "savings" - I just lump them together into one category called "cash at hand" ... So what do I have left? Erm. I have no idea.I guess it is easier to consider what I've put together in these categories:1. Investments Ongoing - I have one mutual fund and some gold. Am trying to diversify, so am looking at individual stocks.2. Investment stash (money ready to go into investments but haven't found a vehicle for them yet, or timing not right, or not yet sufficient for that vehicle.)3. Travelling/Splurging stash (uni is when I have the most free time. Why not go cuti-cuti?)4. Living Expenses (since I have no income, I set aside a sum in my bank account budgeted for a certain number of months - which is part of the loan, and I take out the balance to put into travelling/investment funds - with the atm card for this and I take out a fixed amount every month.)5. Emergency stash (What's left of the loan+savings after deducting Living Expenses, Travelling Stash and Investment Stash)Of course like I said, money is fluid - so if necessary Travelling Stash can be used as Emergency Stash too. I have no idea how much is in my Emergency (its been a while since I've checked on my money systematically.) So yeah, I have to work on this. Typing this post helps clear my head. Quote Share this post Link to post Share on other sites
melmyb 0 Report post Posted November 10, 2008 We are trying to save but sometime not easy bcoz sometime got to spend more in some month.Then the market also not good and some money already stuck there.Wish can take out that money and put in fd but too much to lose if selling shares now. Quote Share this post Link to post Share on other sites
boon 0 Report post Posted November 19, 2008 how much in the bank now is not so important. the point is what u do for ur future starting now??learn so earning tips from me if interesting.http://one2lose.com/affiliate.html Quote Share this post Link to post Share on other sites
YungSernLang 0 Report post Posted November 20, 2008 its a lucky for me as i could keep my money in my bank remain 4 digit, and i would control myself so hard to maintain the 4 digit everytime my pay is out, its hard to maintain due to higher spending power and attraction from those fragrance, watches, skin care n clothes which makes me spend the most...but i had my plan b, where i pass more den 60% of my parent, so its works as money for family, parents and savings under parent account.its tough due to the high maintainence for ourself, savings, life-spending, maintainence(health) and entertainment...joukowski,if keeping rm10 per day for 15 years equal for 127k when u are 35, its wont be enough coz after 10 years from now, a mamak maggi mee would cost from rm 3.50 to rm 10.50 when u reach the amount of the savings,i prefer, 50% savings, 20% family10% Entertainment15% Emergency & Lifestyle requirement5% others usethats how i control my budget each month, if worst come to worst, roti canai myself for few day or tighten my belts, Quote Share this post Link to post Share on other sites
shani 0 Report post Posted November 21, 2008 hahaha all i have to say is that, my general idea was to save alot of money but when i came across shoes, that idea just went totally *poof* but yeah, i do have a considerable amount of savings =) Quote Share this post Link to post Share on other sites