Financial poll!
Hi guyssss
As promised, here's a write up on my financial insights as per my poll a few days ago. Frankly, I was quite surprised by how many people actually participated in that poll! weee (I just had to do it because I couldn't decide and had no inspiration on what to write).
Okay let's get started. Growing up, my parents taught me that if I want something/to go somewhere, I need to work my butt off to earn it. in highschool, I ceased all the opportunity to travel by being in the band and sign up for exchange programs (it was worth it!). Gosh I miss those days (to whoever budak band yg tengah baca, serious rindu those crazy days dengan korang!!!! ). Surprisingly, I actually went to a few countries by being a performer hewhew . Hong Kong was definitely the highlight my band life!
OK that's PART of my big point. going back to my younger days - when I was 12, I actually made big plans with my dad and I told my late grandfather about it. I told them that by the age of 22, I want my own house and start putting my money into sort of an investment. Yes sounds pretty wild for a 12 year old (sigh little liyana is so ambitious). I've always made the craziest wishes BUT I worked hard too.
One of the big reasons why I challenged myself was because I got 4As for my UPSR .I felt like a FAILURE. not even joking! I felt like I can't go far with my life anymore but thanks to my mom that perspective changed. BIG TIME.
How it started.......
From the age of 12 (even way before that) I always save up my money by giving it to my dad. It starts with a couple of riggits(MYR currency) to couple of hundreds every now and then to a couple of thousands..
How I save is, when I get big chunk of money, ill decide the portion that I'll save. usually at the very least, 50% will be given to my dad and I will not ask for it back if I dont need it. the rest ill literally spend ALL OF THEM hahaha. For example, when I got my MARA loan, we received a huge chunk in the beginning and what I do is - I literally give my dad 50-70% of the money. Don't worry, you must be wondering how I keep track of all the deposits to my dad haha. I have a little notebook where I keep track of how much money I give my dad. I had to do it that way because I didn't have a proper bank account back then.
One thing that helps is that when I give my money to my dad, it's really hard to get back because my dad will ask A LOT of questions of why I want it and usually I end up not using the money which is GOOD HAHA thanks abah.
By the time I turned the 20, I actually already had some savings to start my life. but by that time too, I already have other savings in my proper bank account. See? How much saving quietly can benefit you. It takes time so you would need to be patient.
Okay - enough with my childhood menabung stories, fast forward 10 years after that, here I am.
After I graduated from uni, I told my dad, if he manages to find a new nice affordable house in selangor, I want to buy it.
Note: my savings weren't that much to actually afford a deposit YET, but deep down I believe I could start somewhere.
Soooooo - a Few months ago, my dad saw a house ad that says 9% discount for bumiputeras (this point im really grateful of the circumstances Im in). this discount would mean I would only have to pay 1% for deposit!!!! To make that clear to you why I'm so happy here's a quick math:
For example: -
House cost: RM400k
10% (normal deposit portion): RM40,000
After 9% discount - REAL deposit I need to pay: RM4,000
Based on the above, I believe you would understand(if you don't still let me know and I'll explain more) why the 9% discount meant so much! Because yes!!! I could afford that. Since the house is still under construction, it means I will not pay the full monthly instalment until 2020. The situation was just bizarre that the opportunity like that came in just like that! Isn't it just amazing how Allah can hear my wishes 10 years ago and somehow, my dad HAPPENED to saw that ad and the fact that there were only a few units left.
to add to this, because I had the balance of my savings and my dad contributed some money for each and every one of my siblings, I wouldn't need to start paying the house using my current salary until at least end of next year. Meaning, there's a funding for a least a year to support all the interest payments before I actually need to use my current salary to support my house's full monthly instalment.
So the first part of the story, guys!!! I just bought a house recently!!!! :D I didn't want to announce it anywhere in social media because keeping it low-key was the way to go & i didn't have the right reasons to do so anyway(syaitanirojim pushed me to do it but no - im not falling for it haha). But for the purpose of this post, I know I have the right reason and I would like to share that NOTHING is impossible and truly, prayers are stronger than you think it is. And to clear your thoughts, no I'm not going back malaysia just YET. Maybe in future I will when everything is settled down here.
Secondly, when I was growing up, I taught myself to NOT have the urge to have what everyone else is having but buy something because I need it. this applies to the EXPENSIVE and unnecessary stuff.
For example, a car. Some people would feel that at a certain age they HAVE to have a car because they have come to that age. But to me, I try to think about the rationale behind it. When I was studying, I tried to manage myself by biking to work and literally, bus wherever possible. I do need a car at times (thanks to the friends who let me borrow their car haha) but a large portion of the time, I didn't need it. So I didnt buy one until I started working, I still didnt feel like I need it. BUT now that I'm living alone etc, I had to UBER (freaking uber) all the time to buy groceries and just get me anywhere. It was so inconvenient because I need to catch the bus to go to the city alone. So at that point, I decided that I need a car because I'm stressing out. That point I knew, yes I do need a car not because I have to have a car.
Thankfully after graduation, I did some hard labour jobs because I knew I had to set up my financials to start a life alone here. From that job, I have a portion of money to buy a car. weeeee that's my second loan right there! andd I got myself a car :D
Okay moving on to the 3rd part of the story, remember I said earlier that I wanted to start an investment? Soooooo being realistic at this age, I can't be a shareholder or whatsoever just YET. So one day, my dad suggested me this one ASB financing option. It's quite similar to term deposits but.................................... I'm not 100% sure of the difference tho. Please DM me if you need to talk to someone about this because my sister in law (kak unaaaa thank youu<3) handled this for me as she's working with CIMB. After a thorough discussion with my dad, I saw this as an opportunity. hence, I took up the ASB financing loan. Here's a quick summary of how it works:
For example, I took a financing loan of RM100,000,
Annual return is about 7.5%,
Annual dividend (RM100k x 7.5%) RM7,500 (what you get back annually)
Monthly payment RM500
Annual payment/cost (RM500x12) RM6,000
So technically, you will be getting back your monthly payment(RM500) and a little bit of dividend on top of it (RM125). It's an option for you to save up and get something on top of it. For muslims, this ASB i took is an Islamic financing option. For further details please go to their website haha sorry its getting too long to explain.
Basically, I took up ANOTHER loan which is ASB financing loan which I intended to be my back up for my future financing source. My main reason to do this is also to keep my money moving and not just static in the bank. Why not kill two birds with 1 stone right? (no i dont kill birds in real life haha ok bye)
At this point. You might think this is bizarre and might not make sense. All of this literally happened in just 5 months. It was quick but alhamdulillah with ease.
Remember, we all have different circumstances BUT nothing is impossible, you might actually be able to do it. One thing about me is that when people say I can't - that when I'll go hard to make it real. One of the good things about being rebellious haha. I always go for the impossible and usually, it worked no matter how hard it can be. You can always start small and DO NOT be scared to take up responsibilities.
We are in a world where we are in general living a comfortable life (this is not Crazy Rich Asians' Nick's comfortable LOL) but what I mean is there is no war, and no specific needs for survival. we tend to take A LOT of stuff for granted, especially our parents. We take our parents and family for granted because everything is just at our fingertips.
If you are really interested in this investment stuff, approach people and ask for opportunities. I'm only doing the very basic stuff.
OH but please! do it halal-ly. hidup tak berkat nanti!
Some of you might also think that it's impossible for your current position and it's fine. But always plan for something big. Because at least, you would fall somewhere. I'm still a small bean now. This is just a beginning for something big in future for my family and me.
We all have to start somewhere dont we?
That's it from me today. :)
Bye guys, be kind!
Regards,
Liyana
As promised, here's a write up on my financial insights as per my poll a few days ago. Frankly, I was quite surprised by how many people actually participated in that poll! weee (I just had to do it because I couldn't decide and had no inspiration on what to write).
Okay let's get started. Growing up, my parents taught me that if I want something/to go somewhere, I need to work my butt off to earn it. in highschool, I ceased all the opportunity to travel by being in the band and sign up for exchange programs (it was worth it!). Gosh I miss those days (to whoever budak band yg tengah baca, serious rindu those crazy days dengan korang!!!! ). Surprisingly, I actually went to a few countries by being a performer hewhew . Hong Kong was definitely the highlight my band life!
OK that's PART of my big point. going back to my younger days - when I was 12, I actually made big plans with my dad and I told my late grandfather about it. I told them that by the age of 22, I want my own house and start putting my money into sort of an investment. Yes sounds pretty wild for a 12 year old (sigh little liyana is so ambitious). I've always made the craziest wishes BUT I worked hard too.
One of the big reasons why I challenged myself was because I got 4As for my UPSR .I felt like a FAILURE. not even joking! I felt like I can't go far with my life anymore but thanks to my mom that perspective changed. BIG TIME.
How it started.......
From the age of 12 (even way before that) I always save up my money by giving it to my dad. It starts with a couple of riggits(MYR currency) to couple of hundreds every now and then to a couple of thousands..
How I save is, when I get big chunk of money, ill decide the portion that I'll save. usually at the very least, 50% will be given to my dad and I will not ask for it back if I dont need it. the rest ill literally spend ALL OF THEM hahaha. For example, when I got my MARA loan, we received a huge chunk in the beginning and what I do is - I literally give my dad 50-70% of the money. Don't worry, you must be wondering how I keep track of all the deposits to my dad haha. I have a little notebook where I keep track of how much money I give my dad. I had to do it that way because I didn't have a proper bank account back then.
One thing that helps is that when I give my money to my dad, it's really hard to get back because my dad will ask A LOT of questions of why I want it and usually I end up not using the money which is GOOD HAHA thanks abah.
By the time I turned the 20, I actually already had some savings to start my life. but by that time too, I already have other savings in my proper bank account. See? How much saving quietly can benefit you. It takes time so you would need to be patient.
Okay - enough with my childhood menabung stories, fast forward 10 years after that, here I am.
After I graduated from uni, I told my dad, if he manages to find a new nice affordable house in selangor, I want to buy it.
Note: my savings weren't that much to actually afford a deposit YET, but deep down I believe I could start somewhere.
Soooooo - a Few months ago, my dad saw a house ad that says 9% discount for bumiputeras (this point im really grateful of the circumstances Im in). this discount would mean I would only have to pay 1% for deposit!!!! To make that clear to you why I'm so happy here's a quick math:
For example: -
House cost: RM400k
10% (normal deposit portion): RM40,000
After 9% discount - REAL deposit I need to pay: RM4,000
Based on the above, I believe you would understand(if you don't still let me know and I'll explain more) why the 9% discount meant so much! Because yes!!! I could afford that. Since the house is still under construction, it means I will not pay the full monthly instalment until 2020. The situation was just bizarre that the opportunity like that came in just like that! Isn't it just amazing how Allah can hear my wishes 10 years ago and somehow, my dad HAPPENED to saw that ad and the fact that there were only a few units left.
to add to this, because I had the balance of my savings and my dad contributed some money for each and every one of my siblings, I wouldn't need to start paying the house using my current salary until at least end of next year. Meaning, there's a funding for a least a year to support all the interest payments before I actually need to use my current salary to support my house's full monthly instalment.
So the first part of the story, guys!!! I just bought a house recently!!!! :D I didn't want to announce it anywhere in social media because keeping it low-key was the way to go & i didn't have the right reasons to do so anyway(syaitanirojim pushed me to do it but no - im not falling for it haha). But for the purpose of this post, I know I have the right reason and I would like to share that NOTHING is impossible and truly, prayers are stronger than you think it is. And to clear your thoughts, no I'm not going back malaysia just YET. Maybe in future I will when everything is settled down here.
Secondly, when I was growing up, I taught myself to NOT have the urge to have what everyone else is having but buy something because I need it. this applies to the EXPENSIVE and unnecessary stuff.
For example, a car. Some people would feel that at a certain age they HAVE to have a car because they have come to that age. But to me, I try to think about the rationale behind it. When I was studying, I tried to manage myself by biking to work and literally, bus wherever possible. I do need a car at times (thanks to the friends who let me borrow their car haha) but a large portion of the time, I didn't need it. So I didnt buy one until I started working, I still didnt feel like I need it. BUT now that I'm living alone etc, I had to UBER (freaking uber) all the time to buy groceries and just get me anywhere. It was so inconvenient because I need to catch the bus to go to the city alone. So at that point, I decided that I need a car because I'm stressing out. That point I knew, yes I do need a car not because I have to have a car.
Thankfully after graduation, I did some hard labour jobs because I knew I had to set up my financials to start a life alone here. From that job, I have a portion of money to buy a car. weeeee that's my second loan right there! andd I got myself a car :D
Okay moving on to the 3rd part of the story, remember I said earlier that I wanted to start an investment? Soooooo being realistic at this age, I can't be a shareholder or whatsoever just YET. So one day, my dad suggested me this one ASB financing option. It's quite similar to term deposits but.................................... I'm not 100% sure of the difference tho. Please DM me if you need to talk to someone about this because my sister in law (kak unaaaa thank youu<3) handled this for me as she's working with CIMB. After a thorough discussion with my dad, I saw this as an opportunity. hence, I took up the ASB financing loan. Here's a quick summary of how it works:
For example, I took a financing loan of RM100,000,
Annual return is about 7.5%,
Annual dividend (RM100k x 7.5%) RM7,500 (what you get back annually)
Monthly payment RM500
Annual payment/cost (RM500x12) RM6,000
So technically, you will be getting back your monthly payment(RM500) and a little bit of dividend on top of it (RM125). It's an option for you to save up and get something on top of it. For muslims, this ASB i took is an Islamic financing option. For further details please go to their website haha sorry its getting too long to explain.
Basically, I took up ANOTHER loan which is ASB financing loan which I intended to be my back up for my future financing source. My main reason to do this is also to keep my money moving and not just static in the bank. Why not kill two birds with 1 stone right? (no i dont kill birds in real life haha ok bye)
At this point. You might think this is bizarre and might not make sense. All of this literally happened in just 5 months. It was quick but alhamdulillah with ease.
Remember, we all have different circumstances BUT nothing is impossible, you might actually be able to do it. One thing about me is that when people say I can't - that when I'll go hard to make it real. One of the good things about being rebellious haha. I always go for the impossible and usually, it worked no matter how hard it can be. You can always start small and DO NOT be scared to take up responsibilities.
We are in a world where we are in general living a comfortable life (this is not Crazy Rich Asians' Nick's comfortable LOL) but what I mean is there is no war, and no specific needs for survival. we tend to take A LOT of stuff for granted, especially our parents. We take our parents and family for granted because everything is just at our fingertips.
If you are really interested in this investment stuff, approach people and ask for opportunities. I'm only doing the very basic stuff.
OH but please! do it halal-ly. hidup tak berkat nanti!
Some of you might also think that it's impossible for your current position and it's fine. But always plan for something big. Because at least, you would fall somewhere. I'm still a small bean now. This is just a beginning for something big in future for my family and me.
We all have to start somewhere dont we?
That's it from me today. :)
Bye guys, be kind!
Regards,
Liyana
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