Well, a very tough topics. For everyone out there that didn't really tied up with commitments (e.g car, house, kids and etc.), congrats! For everyone out there that currently paying a huge portion of their salaries for this and that debt, you're not alone!
Currently, I'm paying for multiple stuff - such as car loan, family expenses (for my parent), petrol, food, insurance, classes and so on. A huge portion of my salary. A pain in my heart. Well, what to do. Remember, you can't change the fact that you're currently in debt, but you can change the way you going to tackle it. And I feel this thinking is important.
After been in the rat race for so long, I realized that what is really important is focus. Without focus, you're just stressing up yourself, thinking that you're working your ass off just to pay this and that. Worse still, your emotion will be unstable and you'll start to get pissed over small stuff. This happened to me, and I'm not shy to share this out with you all out there. Remember, don't let this ruin your relationship with your loved ones. Stay focus all the time. Change your focus towards solving the debt. Eventually, you'll stay focus and you'll start to think lots of ideas to gain more money to settle your debt.
Save. Yes, save! Start to live your life to your mean. Don't overspend. You're now in debt, not in luxurious lifestyle. First thing first, change your mindset. I personally think this is really important. Your mindset is the one that controlling your body and soul to adapt to certain lifestyle. Start to change your mindset to live your life to your mean. You'll realized that you'll be able to save a huge amount of money. And this amount of money that you able to save - you'll be able to use it to settle your debt even quicker. I'm trying my best to save as much as possible so that I'll be able to settle my car loan debt asap.
Thursday, November 27, 2008
Tuesday, November 25, 2008
Some ways to keep productive wherever you are
Sometimes, in the evening, you'll realized that your energy level went really down. Not that you've been tired exercising the whole day, you just do not know why your energy level gone down drastically. For sure, there are lots of factor and one of the main factors is psychological. Our brain can't store too much information, that's for sure. An organizer or calendar in our Microsoft Outlook aren't created for no reason.
Keep a small notebook - be it a small diary, organizer or you can even use your PDA phone. Sometimes, some great ideas sparked and we thought we will be able to remember it till we find a piece of paper and pen. Nah, you're wrong. Many times we are distracted by other stuff (environmental, emotion or etc.) and we might lose out a potentially great idea.
Carry a small messenger bag. You can keep lots of stuff in there - your wallet, umbrella if you need 1, notebook, pen, paper and etc. Some magazines when you're waiting for bus. A PSP for you to play when you're lining up for a long queue. A MP3 player to listen to your favorite music in the hectic environment. Those stuff will keep your brain active and productive.
Keep everything organized. I believe this idea is being said over and over again in most of the personal development book. Nevertheless, it's really a great idea. Imagine your cubicle is full with documents, papers and etc. - all over the place. Do you believe this is a great environment to work? Do you believe that you'll be productive? My workstation in the lab is full with cables and computer parts (I'm a Software Validation Engineer) and that sometimes really pissed me off. I spent some time to do some housekeeping and wow - I got a clean desk for me to continue my work.
Keep a small notebook - be it a small diary, organizer or you can even use your PDA phone. Sometimes, some great ideas sparked and we thought we will be able to remember it till we find a piece of paper and pen. Nah, you're wrong. Many times we are distracted by other stuff (environmental, emotion or etc.) and we might lose out a potentially great idea.
Carry a small messenger bag. You can keep lots of stuff in there - your wallet, umbrella if you need 1, notebook, pen, paper and etc. Some magazines when you're waiting for bus. A PSP for you to play when you're lining up for a long queue. A MP3 player to listen to your favorite music in the hectic environment. Those stuff will keep your brain active and productive.
Keep everything organized. I believe this idea is being said over and over again in most of the personal development book. Nevertheless, it's really a great idea. Imagine your cubicle is full with documents, papers and etc. - all over the place. Do you believe this is a great environment to work? Do you believe that you'll be productive? My workstation in the lab is full with cables and computer parts (I'm a Software Validation Engineer) and that sometimes really pissed me off. I spent some time to do some housekeeping and wow - I got a clean desk for me to continue my work.
Sunday, November 23, 2008
Record it down
Many times in our lives that we spent without thinking or jotting it down. Come on, who will bring a notepad or diary to keep record of our daily expenses? I don't mean that we need to keep a memo pad or diary in handy all the time we go for shopping. I'm trying out this technique and found that it's really helpful.
Buy a diary (doesn't need to be expensive, if it is, it beats the purpose of saving). Track down everything that you going to spend and what you have spent in that period of time. Manage your financial income and expenses. Jot down how much you going to pay your loan installment, your family allowance and etc. Many times you're in the situation where you'll start to think "where have my money gone? I didn't spend that much, ain't I?". Many times in a day that we will think "Come on, let's go drink at mamak stall", ending up spending RM10++ and we will say something like "It's only RM10++". Try to add up the total of that (I believe if you think that way, it means you're the type of person that will go for a drink at mamak stall every weekends) and you'll be surprised with the amount that you have spent.
Keep track and be disciplined. If you're saying to yourself that you're going to spend this amount of money for this month, then stick to it. I know it's tough, in fact, it's very tough and it might make your life miserable anytime. I'm practicing this technique and found myself unhappy for controlling myself too much over my spending. I believe that there's no 100% working solution for any problem. There's always the need to refine the strategy and make it to near perfection.
It might be your best companion 1 day
Buy a diary (doesn't need to be expensive, if it is, it beats the purpose of saving). Track down everything that you going to spend and what you have spent in that period of time. Manage your financial income and expenses. Jot down how much you going to pay your loan installment, your family allowance and etc. Many times you're in the situation where you'll start to think "where have my money gone? I didn't spend that much, ain't I?". Many times in a day that we will think "Come on, let's go drink at mamak stall", ending up spending RM10++ and we will say something like "It's only RM10++". Try to add up the total of that (I believe if you think that way, it means you're the type of person that will go for a drink at mamak stall every weekends) and you'll be surprised with the amount that you have spent.
Keep track and be disciplined. If you're saying to yourself that you're going to spend this amount of money for this month, then stick to it. I know it's tough, in fact, it's very tough and it might make your life miserable anytime. I'm practicing this technique and found myself unhappy for controlling myself too much over my spending. I believe that there's no 100% working solution for any problem. There's always the need to refine the strategy and make it to near perfection.
It might be your best companion 1 day
Petrol price likely to be reduced by another 15 cents
Sorry everyone for late blog updates. Was busy with competition stuff. Nah, don't wanna say too much about it, long story.
Read in The Star Online today, came across this "wonderful" news. As we can see now, the world crude oil price is dropping drastically and that's really a good news for most of the people. People who travel nearly everyday in their own vehicle will definitely be happy to see the news that the petrol price is dropping down. The news is stating that Malaysians are likely to enjoy another 15 cents reduction in petrol price - bringing the petrol price to RM1.85 per litre.
Our Domestic Trade and Consumer Minister, Datuk Shahrir Samad claims that further reduction was "not impossible" judging from the current declining trend in world crude oil price.
Good news. But I personally feel that we should pay even lesser than that. Currently, Malaysians were paying slightly more for fuel than the market price. (slightly? I don't think so. Our Minister claims that the government able to earn RM10B with our petrol price of RM2 per litre). Our minister keep on stressing on his statement claiming that even government didn't make money from the difference. He kept on stressing that they have paid RM15B to date this year for all the petrol subsidies.
World crude oil price might go down to USD$40 per barrel. Source
Sounds happy and think it's a good news?
When all of us expecting more reduction in petrol price.....
Our Deputy Prime Minister, Datuk Seri Najib Tun Razak to Malaysians: Don't expect much. Source
1 best sentence to describe our current government status: State of Denial.
Read in The Star Online today, came across this "wonderful" news. As we can see now, the world crude oil price is dropping drastically and that's really a good news for most of the people. People who travel nearly everyday in their own vehicle will definitely be happy to see the news that the petrol price is dropping down. The news is stating that Malaysians are likely to enjoy another 15 cents reduction in petrol price - bringing the petrol price to RM1.85 per litre.
Our Domestic Trade and Consumer Minister, Datuk Shahrir Samad claims that further reduction was "not impossible" judging from the current declining trend in world crude oil price.
Good news. But I personally feel that we should pay even lesser than that. Currently, Malaysians were paying slightly more for fuel than the market price. (slightly? I don't think so. Our Minister claims that the government able to earn RM10B with our petrol price of RM2 per litre). Our minister keep on stressing on his statement claiming that even government didn't make money from the difference. He kept on stressing that they have paid RM15B to date this year for all the petrol subsidies.
World crude oil price might go down to USD$40 per barrel. Source
Sounds happy and think it's a good news?
When all of us expecting more reduction in petrol price.....
Our Deputy Prime Minister, Datuk Seri Najib Tun Razak to Malaysians: Don't expect much. Source
1 best sentence to describe our current government status: State of Denial.
Wednesday, November 19, 2008
Maths calculation worth pondering
First equation (Petrol)
1 barrel of crude oil produces 159 litre of petrol.
Current world crude oil price = USD$55
Let's multiple with 3.5 (exchange rate of US Dollar to Ringgit Malaysia)
= RM196
159 litre = RM196
1 litre = RM1.23 per litre.
Government informed us that we are being subsidised by 30 cents per litre for our petrol price.
Therefore, it's RM1.23 - 30 cents and it's 93 cents per litre.
We are paying whooping RM2 per litre! (Do calculate by your own and see)
Source
Second equation (EPF)
Assuming that average salary is RM4K
If our monthly contribution is 11% (RM440), taxable income is RM3560, income tax payable = RM77
If our monthyl contribution is 8% (RM320), taxable income is RM3860, income tax payable = RM109
If you're choosing 8% contribution, you'll end up paying more tax to the government and it'll make them richer. Okay, the government will say that the money is used to boost up the country's development and so on, but how true is that? Let us just wait and see then. Government that doesn't have the best interest of the people in mind.. interesting..
Source from email
Disclaimer: The first equation make sense since the calculation is based on the exact current world crude oil price versus current Malaysia petrol price. The second equation does not make sense after several discussion with my colleagues.
1 barrel of crude oil produces 159 litre of petrol.
Current world crude oil price = USD$55
Let's multiple with 3.5 (exchange rate of US Dollar to Ringgit Malaysia)
= RM196
159 litre = RM196
1 litre = RM1.23 per litre.
Government informed us that we are being subsidised by 30 cents per litre for our petrol price.
Therefore, it's RM1.23 - 30 cents and it's 93 cents per litre.
We are paying whooping RM2 per litre! (Do calculate by your own and see)
Source
Second equation (EPF)
Assuming that average salary is RM4K
If our monthly contribution is 11% (RM440), taxable income is RM3560, income tax payable = RM77
If our monthyl contribution is 8% (RM320), taxable income is RM3860, income tax payable = RM109
If you're choosing 8% contribution, you'll end up paying more tax to the government and it'll make them richer. Okay, the government will say that the money is used to boost up the country's development and so on, but how true is that? Let us just wait and see then. Government that doesn't have the best interest of the people in mind.. interesting..
Source from email
Disclaimer: The first equation make sense since the calculation is based on the exact current world crude oil price versus current Malaysia petrol price. The second equation does not make sense after several discussion with my colleagues.
Government not paying petrol subsidies
1 day old news. I believe most of blogs, newspaper and media are reporting this fact that the government has stopped paying petrol subsisdies since the beginning of the month. This is due to the huge drop in world crude oil price. This statement has been claimed by our Minister of Domestic Trade and Consumer Affairs - Datuk Shahrir Abdul Samad.
He claimed that if this situation going on (world crude oil price below USD$60 - current price is USD$50++ Source ), government will be able to save up to RM10B or more. He claimed that government no longer paying for any subsidies when the petrol price is at RM2 per litre. "We have actually arrived at a time when the price can return to RM1.92", he said.
He added that government might still make "a bit of income" if the price went back to RM1.92. To be honest, his statement is slightly contradicting with what our Deputy Prime Minister has said in Budget 2009. Najib Abdul Razak had then said that government would maintain a 30-cents fuel subsidy.
Datuk Shahrir claimed that the car and bike rebates will be maintained. His statement was "We are still giving RM625 rebates for cars and RM150 for motorbikes that goes straight into your pocket".
I think the main thing that makes most of the citizen pissed off is that when the world crude oil price is at roughly USD$80++ per barrel, the petrol price was at RM1.92 per litre. Now, the world crude oil price is at USD$50++, the fuel price is at RM2. Aren't that slightly irony? I strongly believe that the government people would reply me in this way "So, now you know how hard we have been subsidising for you guys? Right now, instead of think what we can do for you, think of what you can do for us".
[Strictly personal opinion] If they are thinking that RM625 rebates will go straight into our pockets, I would say that RM10b will go straight in your pocket(s) as well.]
In short,
Tuesday, November 18, 2008
10% discount for PLUS and ELITE night riders
From January 09, PLUS and ELITE highway user will enjoy a 10% discount on toll rates for those using the highways between midnight to 7am. This will be applicable to 2 major highways - North-South Expressway (PLUS) and North-South Expressway Central Link (ELITE).
This is part of the PLUS Travel incentive programme introduced by PLUS Expressways Berhad (PLUS). To add up the joy, additional 10% discount will be given for those travelling between midnight and 7am on selected six days during festive seasons. Actual date to be confirmed when festive season is around the corner. This will be the second incentive introducted by PLUS. First and second incentives will be applicable to Class 1 vehicles beginning 1st of January 2009 till 31st December 2010.
Third incentive, PLUS Loyalty Programme, would be 5% rebate for Touch 'n Go and Smart Tag users who spend minimum RM200 monthly on the card. This will be ongoing incentives for all Touch n' Go and Smart Tag users.
Source: Malaysiakini.com and The Star Online
This is part of the PLUS Travel incentive programme introduced by PLUS Expressways Berhad (PLUS). To add up the joy, additional 10% discount will be given for those travelling between midnight and 7am on selected six days during festive seasons. Actual date to be confirmed when festive season is around the corner. This will be the second incentive introducted by PLUS. First and second incentives will be applicable to Class 1 vehicles beginning 1st of January 2009 till 31st December 2010.
Third incentive, PLUS Loyalty Programme, would be 5% rebate for Touch 'n Go and Smart Tag users who spend minimum RM200 monthly on the card. This will be ongoing incentives for all Touch n' Go and Smart Tag users.
Source: Malaysiakini.com and The Star Online
Preparing gifts for your loved one
Crunching your head to think of what present to get for your loved one? Overspent on gifts finding that you'll regret later? Think wisely before getting the gift for any festive season - we'll take Christmas as example since it's around the corner.
Gifts are meant to be thoughtful, meaningful and beautiful. It doesn't need to be very expensive. What you need is just a careful thought. For example, buying diamond necklace is indeed a great gift for girls. But the question when you're going to give the present to the person? Is that what they wants?
Overspending is not a sign of love
I find there's an interesting article in The Simple Dollar mentioning ways to get thoughtful gifts for your loved one. It mentioned that overspending is not love. True. Try to imagine that you bought a cool and latest gadget for them. Do they really need that? They don't love you because you got them this gift, they love you for being there for big moments in their lives and has been there for them when they really need you. That's love, not stuff. It's the heart that matters.
Risk of personal financial crisis
Getting an expensive putting yourself in potential personal financial crisis. Like mentioned above, spending on gifts, then to find yourself falling into tight financial situation ain't cool. You've just given a second gifts to the recipients - guilt. They do not want to see you in a financially tough situation. In short, this will put both of you and the recipients into a tough and painful situation. They'll probably get hurted looking at your sad face.
There are lots of ways to get gifts for your loved one. I repeat again, it don't need to be expensive, it just need to be thoughtful and meaningful. Consider of writing thoughtful notes - spend some time to prepare a beautiful card with meaningful message in it. Not only you save your money in buying Christmas card in bulk, you provide something of value to your loved one as well. Make a nice meal e.g. sushi set. Carve it nicely with wording such as I love you and probably you'll melt her heart right away.
Besides that, I guess you should start thinking of what to buy when you're reading this blog. The earlier, the better. Some items might be overpriced just because festive season is around the corner. Gifts are getting over-commercialized nowadays. Think of ideas, write them down in a list, and search for best deals out there. The earlier you prepare, the higher chance you might get a better deal out there.
Gifts are meant to be thoughtful, meaningful and beautiful. It doesn't need to be very expensive. What you need is just a careful thought. For example, buying diamond necklace is indeed a great gift for girls. But the question when you're going to give the present to the person? Is that what they wants?
Overspending is not a sign of love
I find there's an interesting article in The Simple Dollar mentioning ways to get thoughtful gifts for your loved one. It mentioned that overspending is not love. True. Try to imagine that you bought a cool and latest gadget for them. Do they really need that? They don't love you because you got them this gift, they love you for being there for big moments in their lives and has been there for them when they really need you. That's love, not stuff. It's the heart that matters.
Risk of personal financial crisis
Getting an expensive putting yourself in potential personal financial crisis. Like mentioned above, spending on gifts, then to find yourself falling into tight financial situation ain't cool. You've just given a second gifts to the recipients - guilt. They do not want to see you in a financially tough situation. In short, this will put both of you and the recipients into a tough and painful situation. They'll probably get hurted looking at your sad face.
There are lots of ways to get gifts for your loved one. I repeat again, it don't need to be expensive, it just need to be thoughtful and meaningful. Consider of writing thoughtful notes - spend some time to prepare a beautiful card with meaningful message in it. Not only you save your money in buying Christmas card in bulk, you provide something of value to your loved one as well. Make a nice meal e.g. sushi set. Carve it nicely with wording such as I love you and probably you'll melt her heart right away.
Besides that, I guess you should start thinking of what to buy when you're reading this blog. The earlier, the better. Some items might be overpriced just because festive season is around the corner. Gifts are getting over-commercialized nowadays. Think of ideas, write them down in a list, and search for best deals out there. The earlier you prepare, the higher chance you might get a better deal out there.
Monday, November 17, 2008
Fuel prices lower by 15 cents
Effective from 18 November 2008
RON97 - RM2 per litre
RON92 - RM1.90 per litre
Diesel - RM1.90 per litre
Effective from 18 November 2008, the petrol price will be lower down by 15 cents (RON97 from RM2.15 to RM2., RON92 and Diesel from RM2.05 to RM1.90). This is mainly due to the huge drop of the world crude oil price. Our Deputy Prime Minister and Finance Minister Najib Abdul Razak said that this was the fifth reduction and in honoring the government's promise that they will lower down the price if the world crude oil price reduce.
Honestly, I'm trying my best not to put my personal point of view regarding what our government is doing all the time. I believe lots of Malaysian are not really that happy with our current government. Let us just skip that frustation and cheer for the oil price drop. Though it doesn't drop significantly, the price drop does help us in some way.
Brief history of Malaysia petrol price
Picture taken from Malaysiakini.com - my favorite site
RON97 - RM2 per litre
RON92 - RM1.90 per litre
Diesel - RM1.90 per litre
Effective from 18 November 2008, the petrol price will be lower down by 15 cents (RON97 from RM2.15 to RM2., RON92 and Diesel from RM2.05 to RM1.90). This is mainly due to the huge drop of the world crude oil price. Our Deputy Prime Minister and Finance Minister Najib Abdul Razak said that this was the fifth reduction and in honoring the government's promise that they will lower down the price if the world crude oil price reduce.
Honestly, I'm trying my best not to put my personal point of view regarding what our government is doing all the time. I believe lots of Malaysian are not really that happy with our current government. Let us just skip that frustation and cheer for the oil price drop. Though it doesn't drop significantly, the price drop does help us in some way.
Brief history of Malaysia petrol price
Picture taken from Malaysiakini.com - my favorite site
How to save fuel
Duh, ain't this topic get bored after being talked over and over again in tons of blog? Seriously, whether this topic will get bored or not, we still need to face the fact that our petrol price is unstable from time to time (good news is the world crude oil price is USD$50++, 17 Nov 2008) but still we need to do something to fix it. When I say "fix it", I don't mean that we going to the United Nation conference congress and yell at those people that manipulating the world oil price. We can't control what we can't control - ugly true fact of life. But we can change the way we control our vehicle - the way we spend on our petrol, the way we maximize our petrol usage, and etc. All these ideas are shared with some of my personal experience.
1. Drive slower
I used to drive really fact - whether it's in city area or the highway. Not to say I'm in rush in time, just that I don't like to drive slow - it's just pathetic (i guess tons of people out there would agree with me on this). Reality bites. Petrol price hike bites. Make sure your RPM is not above 4K RPM, if it's more, lower down your speed. Keep it below 90km/h. If it's hurry or urgent to get to the destination, you would have gone out earlier instead of rushing at the last minutes, right? Last time I used to drive 120km/h in city area (ops, don't catch me) and now? 70km/h for highway and 50-60km/h in town area.
2. Turn off the air conditioner
Air conditioner drains your petrol real quick. I know that weather in Malaysia is really hot but sometimes the weather is just right and nice. If the weather permits, why not try to turn off your air conditioner for a while when you're driving? I don't really drive with my air conditioner on nowadays. I actually saved up quite a lot with that technique. It actually increase the total distance my car can go by roughly 80-90km. (I'm driving Myvi) *it might vary for your situation depending on your car petrol consumption and other factors.
3. Be gentle to your brake
Be gentle to your brake - try not to brake harshly. Hard break will cause more fuel consumption and even worse, it might cause the passenger's and your life as well. Imagine you're driving real fast and out of sudden, there's a car coming out from a junction? Or the traffic light just went red and you need to brake all the way to avoid being caught in those police traps? How to do this efficiently? Just try not to tailgate someone way too near or try not to chase for the last 5 seconds of the traffic light. Be gentle, brake gradually and let your car glide till it stops.
4. Less weight
Overloading your car is a big no-no unless you're shifting house, otherwise, forget about loading your car with massive junks. More weight will cause the car to need more power to accelerate - it's just law of physics. So, be light and you'll be happy to see the result. My car? A pair of sneakers in the boot and nothing else. Everything are just light decoration stuff in my car.
5. Check the fuel consumption
Everytime you pump your petrol, try to check your milage. Try to calculate how much you spent versus the total distance that you have travel. A sudden drop of number might hint you that there's something wrong with the car - whether it's mechanical or sudden change of car usage behavior (maybe someone else or you drive extra fast for that particular period).
Actually, there's tons of useful information on how to save fuel out there. Most of the articles are being repeated over and over again with the same pieces of information. Google "save fuels", "how to save petrol" and etc. etc. will give you thousands of result on this.
Actually, there's tons of useful information on how to save fuel out there. Most of the articles are being repeated over and over again with the same pieces of information. Google "save fuels", "how to save petrol" and etc. etc. will give you thousands of result on this.
Remember, you can't change the fact that the world crude oil price is unstable, but you can change how you maximize your cents and sense in making the best of what you have. Feel free to share out any ideas and experience on saving fuels.
Sunday, November 16, 2008
A new dawn of beginning
A warm greeting to everyone that drop by to see my blog right now. Can't really recall how many blog that I've created previously - in short, call me a lazy blogger. Stretch Your Ringgit - I guess this will be my next blog project and I'm quite sure I'll be really enthusiast in keeping this blog up and running. Stretch Your Ringgit will talk about anything that is related to money, wait a minute, is there anything out there in the world that is not related to money nowadays? Everything is related to money, zzz.
This blog will take about my current financial situation and what&how I'm doing to maximize my cents and sense to tackle the current economical crisis and financial turmoil. How I save& spend my money, how I plan for my future - everything will be discussed here. I believe own personal experience will definitely be a good start in starting up a blog. Nothing beats personal experience.
All opinions, suggestion, compliments, and criticism are highly recommended. Whether it's regarding the topic itself, my choice/usage of word, suggestion to make this blog better - all are welcomed. Together we learn to maximize our cents and sense to make us a better person. And together we learn how to achieve our ....
Thanks and hope to see you all soon in next post.
This blog will take about my current financial situation and what&how I'm doing to maximize my cents and sense to tackle the current economical crisis and financial turmoil. How I save& spend my money, how I plan for my future - everything will be discussed here. I believe own personal experience will definitely be a good start in starting up a blog. Nothing beats personal experience.
All opinions, suggestion, compliments, and criticism are highly recommended. Whether it's regarding the topic itself, my choice/usage of word, suggestion to make this blog better - all are welcomed. Together we learn to maximize our cents and sense to make us a better person. And together we learn how to achieve our ....
Thanks and hope to see you all soon in next post.
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