Debt

I have a lot of debt, well in this case financial debt. Study loan, wedding loan and car loan. I guess loan is really unavoidable, to save a lot of cash in short amount of time is kinda difficult but of course not impossible.

Me and my husband is in a mission now. We plan to buy a house in 3 years (its still far away I know!) but we wanted to be realistic. Most of our debt (of course car loan is exceptional) will be clear in 3 years time so by then, I guess we can afford to buy the house.

Buying house needs a lot of planning.

First and foremost, the 10% deposit. Then the renovation budget which can easily reach around RM40k.

How to get money for all this?

1. The EPF fund from account 2. We just work for almost 3 years and trust me when I said our account 2 EPF is not that much. So the 3 years time is just perfect (hopefully) to increase our account 2 amount. To keep tract of your account 2 amount, please register your i-account at KWSP website. It is so easy.

2. Saving from now. Its difficult, yeah. With baby on the way and a lot of stuff to buy for the baby arrival, we kinda slowing our saving mojo (especially me!). But there's a lot of way to save minimally.

a) If you have heard about this, good. It is "Keep Your Green". Green means the RM5. Why RM5? Because the value is in the middle. Not that high not that low. So whenever you have RM5, save it!

b) Other than the green, you can also save the coins. Especially guys, they hate carrying around the coins. So its good, you can save the coins in your beloved piggy bank.

c) Avoid going out too much. Petrol price is really unbelievable these days and with the parking fee, its really adding a lot of burden to our monthly expense. So if can, please stay at home. Not only you can save the above stuff, you can also cook! Save more there.

d) Talking about cook, whenever can, please cook. It really did help me save some of our budget. And of course I can also practice my cooking skills.

e) Don't pretend like you are a rich fellow, please EAT AT CHEAP PLACE. I know some people tend to follow others, eating at expensive place. Especially when we see people uploads picture of their foods and where they eat. But don't get easily influenced. Maybe someone treat them or luckily they got extra allowance that month. Always remember your mission.

f) If you plan to buy something, please always be friend with google. Search, search and search for cheaper price. Same goes whenever you want to buy grocery. Buy groceries at supermarket that offers cheaper price. If you need to buy some groceries urgently but unable to go to the cheaper supermarket, just buy the urgent one. Don't buy other unimportant item.

g) Whenever you want to buy something on the spot, think first whether the item really necessary. Sometimes we just buy and afterwards we don't really use it that often. In short, spend wisely.

Other than the above, if can please don't use credit card. Its uncontrollable. In my case, only my hubby use. I don't because I know I will have a difficult time to control it.

Okay I think that's all. Really hope we can achieve our target. Let's all of us reduce our monthly commitment.

Good luck to others as well.

Till then. Assalamualaikum.