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money is not enough to use!!!

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Category: Generally Malaysian
Forum Name: Current Issues
Forum Description: Current issues in & around Malaysia
URL: http://www.webportal.com.my/forum/forum_posts.asp?TID=371
Printed Date: 16 Oct 2018 at 11:49am
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Topic: money is not enough to use!!!
Posted By: zac1234
Subject: money is not enough to use!!!
Date Posted: 02 Apr 2018 at 10:48am
my new baby was born....milk powder, diapers, clothes and so on is all about money...1 month need to speed almost rm700++...money is not enough to use!!! my salary is only about rm2k++...
Luckily I still got some savings to solve this finance problem.. i wonder should i do some investment...or got another method can make me more save/earn??



Replies:
Posted By: omona
Date Posted: 02 Apr 2018 at 10:54am
i think every investment got its risk...
if i'm like you i'll put the money in the bank and take the interest, that's more save..
u can put it as FD or at Alliance Saveplus acc..their interest rate is high which is up to 3.5% per year..


Posted By: zac1234
Date Posted: 02 Apr 2018 at 10:57am
fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?


Posted By: junghun
Date Posted: 02 Apr 2018 at 11:00am
Originally posted by omona omona wrote:

i think every investment got its risk...
if i'm like you i'll put the money in the bank and take the interest, that's more save..
u can put it as FD or at Alliance Saveplus acc..their interest rate is high which is up tp 3% per year..
 
3% is so less and need to wait until 1 year, it's slow...i more prefer to do investment, it can make money faster


Posted By: omona
Date Posted: 02 Apr 2018 at 11:02am
Originally posted by zac1234 zac1234 wrote:

fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?


Alliance Saveplus acc dun got lock-in peroid, but you need to put big amount of money then can get higher interest rate..


Posted By: despacitoooo
Date Posted: 02 Apr 2018 at 3:44pm
Originally posted by zac1234 zac1234 wrote:

my new baby was born....milk powder, diapers, clothes and so on is all about money...1 month need to speed almost rm700++...money is not enough to use!!! my salary is only about rm2k++...
Luckily I still got some savings to solve this finance problem.. i wonder should i do some investment...or got another method can make me more save/earn??
Ur salary is too less for ur situation now...did ur husband help u in finance problem??
However for my opinion depends on ur situation now u're not suitable to do an investment..


Posted By: yamar11
Date Posted: 02 Apr 2018 at 4:39pm
Originally posted by omona omona wrote:

i think every investment got its risk...
if i'm like you i'll put the money in the bank and take the interest, that's more save..
u can put it as FD or at Alliance Saveplus acc..their interest rate is high which is up tp 3% per year..

yessss agreeee! coz investment can guaranteed u to get lots of money in returns.
but if u invest in bank maybe it can be save coz we know how bank get their share in investment industry. no need to worry


Posted By: yamar11
Date Posted: 02 Apr 2018 at 4:43pm
Originally posted by omona omona wrote:

 

Alliance Saveplus acc dun got lock-in peroid, but you need to put big amount of money then can get higher interest rate..

like seriously?? got no lock in ?? coz as i know , others bank quite strict to their users to withdraw money as many as they want ... and yeah im so tired of banks who are gives so many rules to withdraw got limit... its our money and they should stop that... and now, i just know about alliance bank got no lock in period 


Posted By: tajulhairi
Date Posted: 02 Apr 2018 at 5:50pm
urmmmmm... i prefer u do to an online business for ur side income... it will help u a lot! ask ur wife to do it after she finished her confinement hahahahah


Posted By: DorrisNg
Date Posted: 02 Apr 2018 at 9:37pm
Investment is not encouraging because it's quite risky for us except you are financial expert.  I think the most effective way to save money is try to use washable diapers and secondhand clothes.  Because baby grow up fast, you dont need to buy too much clothes to ur baby.  Milk powder cannot be save because this is compulsory but did you feed ur baby breast milk?  It can save a lot and good for baby.


Posted By: TrinnyTrin
Date Posted: 02 Apr 2018 at 11:05pm
Originally posted by omona omona wrote:

Originally posted by zac1234 zac1234 wrote:

fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?


Alliance Saveplus acc dun got lock-in peroid, but you need to put big amount of money then can get higher interest rate..

Well if you dont have that much money on hand you can just put in at least 20k then can get 1.8% of interest already, well surely you can get more with FD but the problem is you cant take out the money for at least a year, think about when you suddenly need to use it...


Posted By: TrinnyTrin
Date Posted: 02 Apr 2018 at 11:09pm
Originally posted by DorrisNg DorrisNg wrote:

Investment is not encouraging because it's quite risky for us except you are financial expert.  I think the most effective way to save money is try to use washable diapers and secondhand clothes.  Because baby grow up fast, you dont need to buy too much clothes to ur baby.  Milk powder cannot be save because this is compulsory but did you feed ur baby breast milk?  It can save a lot and good for baby.

Well putting your money in bank is one way of investment also, one that has 0 risk. Whenever I have some leftover from my monthly salary I would just put inside my Alliance bank acc, after awhile the money did increase by quite a bit even without me doing anything about it, so I would say putting your money in bank is good if you don't have any knowledge about investing in stock market.


Posted By: Kelvin77
Date Posted: 03 Apr 2018 at 9:27pm
Did ur wife working?  I think 2 ppl's salary can cover the expenses...If not u also can try investment but you must do some research before u invest or u can go to bank to seek advice from the financial consultant.


Posted By: Ahmanran
Date Posted: 03 Apr 2018 at 10:23pm
I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.


Posted By: Ahmanran
Date Posted: 03 Apr 2018 at 10:28pm
Perhaps you can ask for baby things from your siblings/cousins??? Mayb they will have some extra/used baby things but still in good condition. My aunt always give out some new baby things to others. You can save some money here :)


Posted By: malani
Date Posted: 03 Apr 2018 at 10:31pm
Same with my thought too. An online business or extra part-time job will surely earn you some income. Try find out some job during your free time. Make use of the social media ,there are lots of part time job for you to choose. 


Posted By: malani
Date Posted: 03 Apr 2018 at 10:36pm
You can try lookup for jobs at jobstreet. My friends recommend it to me ^^. I found out that there are plenty of jobs to be choosen according to your area and skills. Good luck to you!


Posted By: razileman
Date Posted: 04 Apr 2018 at 9:49am
Why don't you start with a simple financial plan? List down your compulsory budgeting first e.g your household, bill, rent, loans, etc. Minimize your spending and keep the remaining for saving. Suggesting you to create one other bank account just for saving and do not take that money from that account unless you have to. 


Posted By: yangxi
Date Posted: 04 Apr 2018 at 11:16am
Originally posted by zac1234 zac1234 wrote:

fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?

i did a research ald, Alliance give the highest interest rate to us compare to otehr banks... so if you want to save money in banks to get interest i suggest you to put at Alliance acc


Posted By: yangxi
Date Posted: 04 Apr 2018 at 11:19am
Originally posted by DorrisNg DorrisNg wrote:

Investment is not encouraging because it's quite risky for us except you are financial expert.  I think the most effective way to save money is try to use washable diapers and secondhand clothes.  Because baby grow up fast, you dont need to buy too much clothes to ur baby.  Milk powder cannot be save because this is compulsory but did you feed ur baby breast milk?  It can save a lot and good for baby.

yalo, only earn about 2k a month, if invest loss some money, it'll cause financial problem ald...
the best way for his situation is to save money at bank and get interest..


Posted By: audreyyy
Date Posted: 04 Apr 2018 at 2:41pm
yuppp! same here!  Like my son, since he born he wear clothes which is originated from his cousins.  It doesn't means that I i didn't buy new clothes to my child, because this is a way to save money and I saw the clothes still very new so I give my son wears itBig smile


Posted By: elainemok
Date Posted: 04 Apr 2018 at 3:11pm
Originally posted by junghun junghun wrote:

Originally posted by omona omona wrote:

i think every investment got its risk...
if i'm like you i'll put the money in the bank and take the interest, that's more save..
u can put it as FD or at Alliance Saveplus acc..their interest rate is high which is up tp 3% per year..
 
3% is so less and need to wait until 1 year, it's slow...i more prefer to do investment, it can make money faster
Guess that the alliance saveplus is a new acc that alliance launch? Just do a research on websites, their interest rates is barely same with FD which is 3.5%, but without lockin period, I think put savings on there will be a more stable investment Shocked


Posted By: lufya456
Date Posted: 04 Apr 2018 at 3:12pm
if they dont have for baby stuff, u also can buy it at thrift shop.... 
I also save more money when I spend baby's clothes there.... 
then after years, just throw it away or give to someone else who have a baby



Posted By: lufya456
Date Posted: 04 Apr 2018 at 3:18pm
Originally posted by yangxi yangxi wrote:


i did a research ald, Alliance give the highest interest rate to us compare to otehr banks... so if you want to save money in banks to get interest i suggest you to put at Alliance acc

I do saving my money at alliance bank and i got dividend from the interest... 
and yeah im also do an online business and alliance also help me a lot when i want to create an account
their staff also friendly and helpful.... besides that, there's no transactions fee! like if u withdraw money at MEPS , still dont have any charge 


Posted By: elainemok
Date Posted: 04 Apr 2018 at 3:46pm
Originally posted by malani malani wrote:

You can try lookup for jobs at jobstreet. My friends recommend it to me ^^. I found out that there are plenty of jobs to be choosen according to your area and skills. Good luck to you!
Dont think that's a better choice, maybe she can consider to do a small online business first so that she can work & take care for her baby ... and if want to save & earn then alliance saveplus should be ok, cause no transaction fee and annual fees its' suit to business use.


Posted By: vanice098
Date Posted: 04 Apr 2018 at 4:13pm
eeuuww why need to buy baby's clothes at bundle shop??!!!
it might have eczema at previously baby and u put it on your baby... 
dont ever dare! 


Posted By: jomthai
Date Posted: 04 Apr 2018 at 4:22pm
Originally posted by vanice098 vanice098 wrote:

eeuuww why need to buy baby's clothes at bundle shop??!!!
it might have eczema at previously baby and u put it on your baby... 
dont ever dare! 

LOL!! it is necessary to feels disgusting to clothes from a thrift shop ?? because they wash it before sell it!
and after u buy it, u have to wash it first to avoid whatever it is... and its one of the initiative to cut off the budget ...  


Posted By: SuperJJ
Date Posted: 04 Apr 2018 at 9:36pm
Originally posted by Ahmanran Ahmanran wrote:

I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.

Only do investment if you have extra money that you can afford to lose. Most of the time you will be at the risk of losing money rather than earning so I wouldn't count much on that. Prefer you could save your money at bank instead such as Alliance bank which offered up to 3.5% of interest for at least 100k saved.


Posted By: SuperJJ
Date Posted: 04 Apr 2018 at 9:41pm
Originally posted by malani malani wrote:

Same with my thought too. An online business or extra part-time job will surely earn you some income. Try find out some job during your free time. Make use of the social media ,there are lots of part time job for you to choose. 

Yeah online sales nowadays are very easy to start with, just make a Facebook page and you can start to promote all your stuff there, unlike last time where the only possible way to do business is to rent a shop. And if you plan to do online business do consider to register an Alliance bank account as they do not charge you for transaction fees, helps in saving a lot in the long run.


Posted By: OnePunchChoo
Date Posted: 04 Apr 2018 at 9:45pm
Originally posted by SuperJJ SuperJJ wrote:

Originally posted by Ahmanran Ahmanran wrote:

I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.

Only do investment if you have extra money that you can afford to lose. Most of the time you will be at the risk of losing money rather than earning so I wouldn't count much on that. Prefer you could save your money at bank instead such as Alliance bank which offered up to 3.5% of interest for at least 100k saved.

Investment also need to depend on luck one, too hard to predict what would happen even if you have all the knowledge about the stock market. I prefer to save my money at bank although earn a bit lesser but at least it is confirm earn.


Posted By: OnePunchChoo
Date Posted: 04 Apr 2018 at 9:46pm
Originally posted by vanice098 vanice098 wrote:

eeuuww why need to buy baby's clothes at bundle shop??!!!
it might have eczema at previously baby and u put it on your baby... 
dont ever dare! 

I dont think you should judge other people like that, doesn't mean everything had to be branded only can wear...


Posted By: Honggg
Date Posted: 05 Apr 2018 at 7:56pm
Originally posted by zac1234 zac1234 wrote:

fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?

Saveplus account provides an interest up to 3.5%, not bad. Your money is secured by PIDM too. I'm surprised that this account is not charging any transaction fees ,for other banks there are many charges imposed according to the transaction made.


Posted By: Honggg
Date Posted: 05 Apr 2018 at 8:33pm
Originally posted by lufya456 lufya456 wrote:

Originally posted by yangxi yangxi wrote:


i did a research ald, Alliance give the highest interest rate to us compare to otehr banks... so if you want to save money in banks to get interest i suggest you to put at Alliance acc

I do saving my money at alliance bank and i got dividend from the interest... 
and yeah im also do an online business and alliance also help me a lot when i want to create an account
their staff also friendly and helpful.... besides that, there's no transactions fee! like if u withdraw money at MEPS , still dont have any charge 


This will surely save alot ! No fees for every transaction. Besides, you are earning interest too. If you already have an existing Alliance Bank account,u can direct open Alliance SavePlus Account online. 


Posted By: lilythegirl
Date Posted: 05 Apr 2018 at 9:45pm
Originally posted by omona omona wrote:

i think every investment got its risk...
if i'm like you i'll put the money in the bank and take the interest, that's more save..
u can put it as FD or at Alliance Saveplus acc..their interest rate is high which is up tp 3% per year..


How about OCBC Business Banking ? 
The business banking only requires a low amount of deposit. LOL
And their investment period can be as low as 1 month to 5 years.


Posted By: lilythegirl
Date Posted: 05 Apr 2018 at 9:48pm
Originally posted by razileman razileman wrote:

Why don't you start with a simple financial plan? List down your compulsory budgeting first e.g your household, bill, rent, loans, etc. Minimize your spending and keep the remaining for saving. Suggesting you to create one other bank account just for saving and do not take that money from that account unless you have to. 


Good suggestion. LOL
List out all the expenses first , then decide where to cut cost.
The money saved can keep for online business or put into bank.


Posted By: wonderamy
Date Posted: 05 Apr 2018 at 10:17pm
that's right, you are not suitable to do any investment now because you can't 100% get back your money in a short period.  How abt do some part time job? like my friend, she do part time job as a piano teacher on weekends, I think you can go and do grab driver, the salary not badWink


Posted By: zac1234
Date Posted: 06 Apr 2018 at 10:07am
Originally posted by SuperJJ SuperJJ wrote:

Originally posted by Ahmanran Ahmanran wrote:

I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.

Only do investment if you have extra money that you can afford to lose. Most of the time you will be at the risk of losing money rather than earning so I wouldn't count much on that. Prefer you could save your money at bank instead such as Alliance bank which offered up to 3.5% of interest for at least 100k saved.
har..need to put 100k then can get 3.5% interest? haizzzzz i dun hv so much saving lehhh


Posted By: yangxi
Date Posted: 06 Apr 2018 at 10:10am
Originally posted by zac1234 zac1234 wrote:

Originally posted by SuperJJ SuperJJ wrote:

Originally posted by Ahmanran Ahmanran wrote:

I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.

Only do investment if you have extra money that you can afford to lose. Most of the time you will be at the risk of losing money rather than earning so I wouldn't count much on that. Prefer you could save your money at bank instead such as Alliance bank which offered up to 3.5% of interest for at least 100k saved.
har..need to put 100k then can get 3.5% interest? haizzzzz i dun hv so much saving lehhh
actually u can put 20k inside and get minimum interest which is 1.8%... more info:  https://voiz.asia/en/31233 and also if u open acc b4 end of this month, u'll get rm40 petrol gift card...


Posted By: yangxi
Date Posted: 06 Apr 2018 at 10:18am
Originally posted by lufya456 lufya456 wrote:

Originally posted by yangxi yangxi wrote:


i did a research ald, Alliance give the highest interest rate to us compare to otehr banks... so if you want to save money in banks to get interest i suggest you to put at Alliance acc

I do saving my money at alliance bank and i got dividend from the interest... 
and yeah im also do an online business and alliance also help me a lot when i want to create an account
their staff also friendly and helpful.... besides that, there's no transactions fee! like if u withdraw money at MEPS , still dont have any charge 
not only MEPS.......they also dun charge online transfer, annual debit card, IBG and IBFT..


Posted By: zac1234
Date Posted: 06 Apr 2018 at 10:19am
Originally posted by yangxi yangxi wrote:

Originally posted by zac1234 zac1234 wrote:

Originally posted by SuperJJ SuperJJ wrote:

Originally posted by Ahmanran Ahmanran wrote:

I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.

Only do investment if you have extra money that you can afford to lose. Most of the time you will be at the risk of losing money rather than earning so I wouldn't count much on that. Prefer you could save your money at bank instead such as Alliance bank which offered up to 3.5% of interest for at least 100k saved.
har..need to put 100k then can get 3.5% interest? haizzzzz i dun hv so much saving lehhh
actually u can put 20k inside and get minimum interest which is 1.8%... more info:  https://voiz.asia/en/31233 and also if u open acc b4 end of this month, u'll get rm40 petrol gift card...
 i think i'll not put at fd acc, mayb i'll save my money first and put it at Alliance at the future coz i also scare other investment got its risk and i can't get back my money ...anyway thx for the information


Posted By: junghun
Date Posted: 06 Apr 2018 at 12:16pm
Originally posted by elainemok elainemok wrote:

Originally posted by junghun junghun wrote:

Originally posted by omona omona wrote:

i think every investment got its risk...
if i'm like you i'll put the money in the bank and take the interest, that's more save..
u can put it as FD or at Alliance Saveplus acc..their interest rate is high which is up tp 3% per year..
 
3% is so less and need to wait until 1 year, it's slow...i more prefer to do investment, it can make money faster
Guess that the alliance saveplus is a new acc that alliance launch? Just do a research on websites, their interest rates is barely same with FD which is 3.5%, but without lockin period, I think put savings on there will be a more stable investment Shocked
can only get back big amount of money after many many years, i still not prefer for doing that...


Posted By: gongzaimee
Date Posted: 06 Apr 2018 at 9:16pm
Originally posted by vanice098 vanice098 wrote:

eeuuww why need to buy baby's clothes at bundle shop??!!!
it might have eczema at previously baby and u put it on your baby... 
dont ever dare! 

LOL! if u are too rich then u shouldnt said like dat! u dont even know who struggles people out there to work on something to make sure their child comfort! they never complaining about the baby's stuff prices coz they really working hard! 


Posted By: gongzaimee
Date Posted: 06 Apr 2018 at 9:20pm
Originally posted by razileman razileman wrote:

Why don't you start with a simple financial plan? List down your compulsory budgeting first e.g your household, bill, rent, loans, etc. Minimize your spending and keep the remaining for saving. Suggesting you to create one other bank account just for saving and do not take that money from that account unless you have to. 

yeah totally agreed! because if u have a great financial planner, u will know which one u need and which one don'ts .. Im used to that when i got a small salary back then.. trust me, its can help 


Posted By: nemomone
Date Posted: 06 Apr 2018 at 9:48pm
Investment is too risk! Hope you can think properly, why don't you discuss w/ your wife? Did she work? If she work also then your financial problems can be overcome.


Posted By: Kanishi
Date Posted: 07 Aug 2018 at 10:03pm
Yea, in this generation of us the inflation of the material price have effect us heavily. Especially those who have children and family that need twice income only can effort it. 


Posted By: Kanishi
Date Posted: 07 Aug 2018 at 10:05pm
Investment may be a small part and getting some part time income is the more stable like grab that can do with flexible time and the income is still quite high for a part time job. The extra income can help to reduce the financial stress of the family.



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