start.....counting!

While I am writing this, I am in the state of 'aweness' of what had been told to me through the FB msg. How could a person who is just started working for about less than 6 months, could pay for the car's downpayment, more than quarter of the total price. And that particular car is not the one with the title 'made in Malaysia'!!! I am definitely very impress with what is done by that person.

Anyway, I believe the secret behind this is absolutely lies on the effectiveness of managing your money starting at the early stage.

This is actually a very positive environment. It started to trigger me to think about my future and start SAVING! haha. Knowing me who is prefer to invest my money into shopping, travelling and FOOD, the time I am writing this post is definitely the turning point of me becoming a mindful person about my future!

So how am I going to start? First of all, I need to start calculating about my monthly EXPENSES. It is including of the

rent,

food,

electricity,

phone and

other expenses.

After having the total of all this expenses, I need start thinking about the amount that I am willing to save for every month. Just for self-motivation, since I am now is still studying and under scholarship for about 2 more years, I need to set that ending point as my target to achieve a total of sum of money. To make it more interesting, that sum of money can be substitute with something which is more materialistic, something that we want to have and had been dreaming of to get! As for my case, I am probably can put my dream car as the target.

The next step is to check the price of that car and start thinking that after graduating, you would like to have the car straight away. Owh maybe after a few months of having stable job to make it more reliable dream to achieve!

This is really interesting. Since you have already known the price, start doing your budgeting of your monthly allowance/salary and makes the minimum saving for your account should be the price of your dream car dividing the total month left before you finish your study. I am sure the amount gonna be exceeding of what you are willing to save, after considering every expenses that you need to pay, but bear in mind, it is not wrong to set a high target as long as it is reliable to achieve. So, if you think that it might restraining yourself from having all of the excitement, just allocate certain amount as your entertainment activities. Revise back your budget and make sure the figure should be a number that can be accumulated into the price of your dream car. That must be hard, lets make it as the amount of the DOWNPAYMENT for your dream car! The secret here is, pay more for your downpayment as you will not suffer every month to pay for your car's loan!

OK now I am at the peak of getting this plan into success! Thanks to that SPECIAL FRIEND who had introducing me about this and I believe that I am so lucky to be told at the time where I am still studying abroad so that I can take the advantage of the different currency rate and having about 2-2.5 years time to make this plan work!

Owh before I forget, I can actually take of the advantage of any monetary institution in Malaysia which could providing me with the high divident's rate. Remember, as a Muslim, we are also need to consider about halal and haram. SO, choose the right institution for you to grow your money! In my case, I'll try to look into ASB or Tabung Haji. Look at the pros and cons for both, and choose the plan in a very smart way! If possible, I'll like to transfer the money everytime I go back to Malaysia for holidays. So, when I come back to study in Australia, I will not have the intention to 'disturb' my investment and start concentrating for another saving for the next holiday.

Therefore, for any of you guys who have gone through this experience, feel free to drop a comment, sharing your golden experience there. Thanks in advance ;)