Let's
meet some people and see how they manage their finances:
Aziz
and Lisa
Aziz and Lisa are happily married with a young son and daughter.
Aziz recently opened a dental clinic and his wife Lisa is
an audio technician. After taxes, they have a combined net
income of RM7,200
They are renting a terrace house in a suburb
of Kuala Lumpur and have two cars, each with an outstanding
loan. Their rent is RM1,200 per month while the combined payment
for their cars is RM1,780. Food, clothing, utilities, transportation,
childcare expenses, a housemaid and other incidentals add
another RM2,590 to expenses.
After taking away all living expenses, debts
and EPF contributions, they have an after-tax monthly surplus
of about RM1,630. Aziz hasn't thought much about investing,
thinking that his dental practice will grow and take care
of their future needs. Lisa on the other hand, having exposure
to financial news programmes, would like to try her hand with
a unit trust.
They
dream of buying a house, and having a substantial sum for
business expansion, their children's education, and a comfortable
retirement. At this point, they do not have a clear financial
plan for achieving their objectives. |
