Wealth Building, Retire Early, Personel Money, Financial Planning, Saving Tips
If you have some saving in account after whole year of hard work, what will you do with the money? Most people have wonderful plan for it. Plan for vacation, plan for new car, new hand phone or now more to smart phone and so on as you can name it. They spend all and restart their saving at the beginning of next year for new plan. Spend it! That are what most frequently heard of or we are just the one of them.
I had made my decision to subscribe Personal Money magazine for one year start from October 2009. Past, I had bought them consistently each month from local book store start from January 2009. I even bought the pass issue of Personal Money online with cheaper price.
Personal Money is a local financial magazine. Just as the name given, it is a magazine that provide information about managing your money efficiently. The topic range from insurance, stock pick, tax, travel, financial product, car and IT gadget too. All in all it provide you precious info to maximize uses your money and manage your money efficiently.
From this post, I would like to highlight two things 1) how powerful is the compounding interest and 2) Start saving and invest earlier. Study the table below and examine the different between it.
The table below represent 3 persons start saving and investing at different age and different amount of money.
Financial planning is important if you want to retire early and retire rich. It is just like your travel planning from destination A to destination B. There are several ways for you to reach there which have pros and cons on each of them. Same apply to financial planning. The important is you need have the blue print in your mind how to achieve your goal.
Below are 5 steps of financial planning. Each of them are equal important.
PTPTN (Perbadanan Tabung Pengajian Tinggi Nasional) is a government loan to all Malaysian that wish to forward tertiary education. I had loan RM21k from PTPTN with RM3500 each semester. Honestly, PTPTN ease my life a lot during uni times although the loan for each semester is just BARELY enough. I have to bare with KL entertainment lifestyle. I’m not going into detail how you spend the money.
Recently, I had checked the PTPTN website to get some information of repayment. Sadly, the admin fee aka interest charge stated is still 3%. Isn’t the admin fee had adjusted to 1% start from January 2009 which postpone from June 2008 already? ..!..
The rule of 72 is a formula that can help you calculate out times needed to double your savings in a glimpse. The first time I heard of it, it sounds so magic. I heard it sometimes ago from a forum and now I going to share it here. Here it go..
I just find my new job as temporary teacher. Honest speaking, teacher is the profession that I decline the most. I didn’t put any choices during my application to Uni. I feel that it is a stressful job. Ironic, I am temporary teacher and I felt that I’m Loving It.
Such a big extreme changes is due to the luxury paycheck from government to teacher. If you are a formal teacher, your starting salary would be around RM2500. The Salary Rate Per Hour is around RM20.8333. Syoknya! It is more than degree holder in their field.
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