Future=need qin~ So it wont be wrong to estimate my future needs. Calculations below were made based on prediction, hence it may appear unrealistic.
Fresh grad, Year 1 (age 24):
Assumption Salary=rm2300
Monthly car installment= rm922
Monthly petrol=rm200+-
Monthly food expenses=rm400+-
Monthly pocket money to parents=rm200+- (sorry daddy mommy, you son just fresh grad, will give more later)
Monthly saving=rm 600 (300 for long-term investment, 150 cash, 150 saving acc)
It haven't include entertainment expenses, car service, ptptn and unexpected costs.
Saving account total= rm1800, Investment=rm3600 (not including Return on Investment for easier calculation)
Annual vacation= -rm1500. Total saving after year 1=rm300 (LOL?)
Comment: life in 2012-2013 might be tough.
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Year 2 (age 25):
Assumption Salary=rm2700 (reference from jobstreet)
Monthly car installment= rm922
Monthly petrol=rm300 (predicts that petrol price will increase)
Monthly food expenses=rm500
Monthly pocket money to parents=rm200 (sorry daddy mommy, still poor)
Monthly extra pocket money=rm100
Monthly saving=rm700 (325 long-term investment, 100 cash, 175 saving acc)
Bank saving total until the end of year 2=rm2400.
Amount on investment until the end of year 2=rm7500.
Annual vacation=- rm1700, Total saving=rm700.
Comment: If saving is more than expected, might as well as invest in higher risk investment.
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Year 3 (age 26):
Assumption Salary=rm3200.
Monthly car installment= rm922
Monthly petrol=rm350
Monthly food expenses=rm550
Monthly pocket money to parents=rm250 (sorry daddy mommy, still poor lol)
Monthly extra pocket money=rm300
Monthly saving=rm800 (400 long term investment, 200 cash, 200 saving acc)
Bank saving total until the end of year 3=rm3100
Amount on investment until the end of year 2=rm12300
Annual vacation=- rm1900, Total saving=rm1200.
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Year 4 (age 27):
salary increase=rm3600
Monthly car installment= rm922
Monthly petrol=rm400
Monthly food expenses=rm600
Monthly pocket money to parents=rm350+- (sorry daddy mommy, still poor lol)
Monthly extra pocket money=rm350
Monthly saving=rm950 (long term investment=rm450, cash=rm200, bank=rm200)
Bank saving total until the end of year 2=rm3600.
Amount on investment until the end of year 2=rm17700. *(18K CAN MARRY JOR LOL, but.... of course will let the money roll first lol)
Annual vacation=-rm2100, Total saving=rm1500.
Comment: extra pocket money seem to be a lot, either allocate extra saving on investment or investment+vacation
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Year 5 (age 28):
salary increase to rm4000.
Monthly car installment= rm922
Monthly petrol=rm500
Monthly food expenses=rm650
Monthly pocket money to parents=rm400
Monthly extra pocket money=rm400
Monthly saving=rm1200 (long term investment=rm600, saving acc=400, cash=rm200)
Bank saving total until the end of year 3=rm6300
Annual vacation=- rm2500, Total saving=rm3800.
Amount on investment until the end of year 2=rm19500
Comment: having nearly 20k (without counting ROI) seems good, and the saving account amount indicate that I might be able to travel to somewhere with higher currency soon.
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Observation:
1) Large portion of money went to car installment, however I got the confident to be able to balance it by cutting other expenses.
2) Starting from year 3, i might consider start diverging my investment to 50 balanced, 50 higher risk? Since the money I able to spend on investment is more by that time.
3) Annual vacation yeah~ Must enjoy the present life as well, no point do all the saving and suddenly accident happens.....*touch wood* The first 5 years, probably only able to visit places like thailand, bali, taiwan, hong kong, vietnam...etc (thats five!!)
So hopefully the salary can be good, of course that means I will need to get a good company and I am hardworking enough.