Ideal Salary Allocation?
I had been working for 2 months as temporary teacher. My salary increase from Rm1200 to Rm1900 after my graduation. With adding some allowance, my monthly salary will have slightly more than 2k. Wow, not bad. I am starting falling in love with my job. My salary rate per hour is around RM11.
I had been budgeting for my salary although yet receiving it. Craving for it! It always took a long time for the first time government worker to get paid. Usually will take around 3 months.
Net Income Allocation
Above is my net income allocation ( after deducting epf ). Largest expenditure of my income flow to expenses. This expenses is necessary, such as phone bill, petrol, parents, family etc. I try make my necessary expenses as least as possible but it still become my top expenditure.
For the time being, I can save and invest more as I don’t pay much debt such as car and house loan. I only pay for my PTPTN loan with the minimum amount. By the way, I allocate 5% of my income for travelling as I like travelling. Is this an ideal salary allocation?
My 2 cent
After budgeting my main source income, I find that I have nil for my passive income. Totally zero for my passive income column. I think I need to find some passive income since I have more free time.
Good start… at least you no need to service debt payement for cars and house.
[Reply]
Ya, I just need to pay for my study loan which I paid for minimum first as the interest is low.
[Reply]
Hm.. passive income to me is supposed to be passive – ie. no sweat or no consistent extra work. If it’s mutiple stream of income but no time to myself/family, i’d think twice before getting into it.
Personally, my only passive income is from my portfolio income. Yet to break into the realm of $ making via royalties and such
[Reply]
Mrcoolku Reply:
November 12th, 2009 at 8:17 pm
Ya, passive income should be no sweat no extra work. But not many can do that. Mostly passive income still need to be monitor from time to time or need hard work first.
You are great having portfolio passive income. I still persuading it now.
[Reply]
sourplum Reply:
April 29th, 2010 at 10:11 am
my passive income come from a flat that i bought on February this year. it gave me RM250 a month
[Reply]
Mrcoolku Reply:
May 1st, 2010 at 7:42 am
Hey, thats good you start to have passive income. I still don’t have any yet. Still trying hard on it.
[Reply]