About me

My photo
Gregarious, bold, straightforward and does not care how people perceive. I am not a creep. Just being myself.
Feeds RSS
Feeds RSS

Wednesday, November 18, 2009

How Do I Manage My Money With My Fixed Income


Tonight would be another sleepless night for me like usual. Whenever I hit the sack, my brain cells will automatically set to "PLAY" mode and this is when all the thoughts come. Hell....it makes me staying awake, waking back and forth in my bedroom, and toss and turn in the bed. To be frank, I totally have no particular topic to write about now but in order to pass time, I need to write something. The next time I visit the clinic, I hope the doctor will not diagnosed me with insomia and prescribed me with multiple anti-depressants or maybe anti-anxiety. LOL. Guess Michael Jackson's needs some companions up there. He will be glad that we will be doing moonwalking in the skies with him. 


Okay...the thing I am so worried about is financial problem that I am gonna face in a few months time. Everyday, my mind will fill with ideas and ways to make more money to support myself, not to mention that I am very high self-maintenance. With the only mere RM2k plus in hand, I do not think I can outdo myself in life with salary. First of all, my dad wants me to pursue MBA no matter what because he thinks that MBA is of great magnitude in a few years to come. He said he has wisdom and I didn't possess one so I am not able to see the benefits and importance of doing MBA. As much as I wanted to follow his advice, I feel I am further apart from my life goal. He wants me to support my studies myself and it's gonna cost me RM20k at least in one of the public varsity. What make me worried more is the time constraint that I am gonna face when I have to work in the day and attend classes during the night. Life gonna be tough and it needs lotsa determination and commitment which I myself think I am not ready for it yet. Besides having to pay for my MBA, there is an extra loan I need to pay from PTPTN that funds my basic degree education which costs at whooping RM23.5K! If we choose not to settle it, the outcome is, very thought-provoking. We are not allowed to travel overseas even to our friendly neighborhood country, Singapore. 

No doubt, many ideas have struck me every night but there are too many factors to consider. The questions are, do I have time to do it? Can I be committed to what I am doing if I were to pursue my education? How much capital that I need to invest to start a business? Can I actually trust my business partner/ friend(s)? Can I meet customer demands or satisfaction? Will people buy my items? Argh.....there are simply just too much for me to consider and the bottom line is really simple. Be prudent in spending, and control my desires. My dad always tells me that there is always ways to overcome the financial woes it is either we cut down on expenditure, OR better yet, we can increase our income. Only two ways to balance out the financial equilibrium. So....less frustration and more sleep now for me.



INCOME = SAVINGS + HOUSEHOLD EXPENDITURE + CAR LOAN + HOUSE LOAN + OTHER LOAN + DESIRE


Remember the first thing to do when you get your salary or check is to deduct approximately 10% of the grand total to put in saving accounts or fixed deposit. And another few more percent will be parked under investment. The rest of the salary will go under monthly commitments and so forth. If you have some extra in the end, that's considered as your DESIRE. Now, you can buy the Guess dress you have been eyeing during the window shopping for some time. 





4 comments:

Maxloon120 said...

It's true. Besides saving, need to use the saved $ to invest as well. Because what we save right now, the value will be difference. Now we can buy a KFC dinner plate with RM11.xx, but after 5,10,20 years.. Will it still the same prize? :S
Oh man.. I love to eat KFC heheh.

Genova said...

very thoughtful.

Cynthia Kim said...

@Maxloon120, you're rite. Investment is the key if you wanna be rich in the future. LOL. So are u interested in investing Public Mutual? I'll give you discount. Hahahah...Okay...i was kidding. I don't do sales. Totally hate it.

@Genova, when are you coming back from Sabah?

Kaiser Villaviciencio said...

Well, did you pursue your MBA? There are other opportunities you might miss when you spend most of your time studying. Why not attend short courses, instead? Do what you love and be creative as the world of business is very tough. If you don't wanna be somebody else's worker, be your own boss. Sometimes it takes a lot of courage to do all these things, and you might also need to borrow some cash to support your needs. Just don't be too hard on yourself, Cynthia.

Post a Comment