Hope you guys are doing well.
Well, as everyone know Hari Raya Aidilfitri is around the corner.
We here would like to wish all muslim friends “ Selamat Hari Raya” and hope you have the best Raya ever.
Okay, as you know, I will only write when something new to announce. But, today will be exceptional one.
I just would like to share some important thought with you.
As everyone know that in November 2011, Bank Negara had announced margin of 70% imposed to 3rd housing loan.
This announcement sends a mixed feeling and mixed critics among us. However, we just have to swallow the bitterness and embrance it.
Now after, a year and half of implementation, do you see any different?
If you ask me, I think the property market did slow down. People do not crazily and easily purchase property.
It’s did slow down the havoc in property market. And its give some chances to the younger generation to purchase property at reasonable price.
Sometimes, I do feel for the younger generation because some of us do not born with silver spoon where our parents have down payment deposit for us to purchase house.
Some of us, really do need to use own saving and EPF account to purchase house.
It does make thing harder to save money nowadays with the rising cost of living.
We did our calculation the other day on cost of living for young generation.
For example, for a youngster who works for few years, the monthly income probably around RM3000.
So, we did some simple calculation here.
Gross income: RM3000
EPF & Socso & Tax : RM400.00
Take home income : RM2600
1 car with car loan ( basic car) : RM400
1 house and housing loan around RM150k : RM600
1 month for food : RM20 (per day) x 30 days : RM600
1 month car petrol , car maintenance ( ocassionally) and car insurance ( 1 yr once) : RM450
Phone Bill and Internet : RM150
Total Commitment : RM2200
Gross balance : RM2600-2200= RM400
Why I put gross balance?
Because, this RM400 will be including your dating fees with your girlfriend/boyfriend.
Which you know by now watching movie alone will cost you about RM40-50 per couple. Including the movie ticket, popcorn and drinks and after movie dinner. If you do it every week, it will hurt u man.
Then, if you have parent, some of you may need to give them some monthly gratitude fees around RM100-200. As some parents does not working.
If insurance is one of the important to get one, now the cheaper will be around RM100 per month.
I think, I still did not cover if sometimes we youngster need some travelling or additional shopping for new clothes, or gadget or new shoes even…
How about going out with family for dinner once a month?
Oh mind so many to cover right?
That’s why I think many go to credit card companies for help.
I don’t say it is correct things to do but I think some people need it to survive daily life.
My above comparison will be the most humble one, I know there is more cost occurred.
And I know many people still have income within RM1500 to RM2500. How about these people?
To live in these generations with new technology and gadget around, It is really the most expensive one in century.
Can you imagine all the necessities had increased tremendously?
However, how about our income? Can we curb the expensive cost of living?
If you look at human history, humanity is more powerful than anything else. We survive so many change and we create so many powerful stuff in the whole.
I think we can curb anything. Sometimes when we are under pressure, we can create more wonderful things.
Look at bright side and just remember every cloud has a silver lining.
If you out there looking for the best housing loan consultant in town do not look further, YOU FOUND ONE!