Looks like the Malaysian government is really desperate for cash. Amanah Saham Berhad(ASB) has just enabled their trust holders to top up using online banking. The only drawback to this is that you can only do it with Maybank2U. Read more here.
Maybank Newsroom Statement
The Star's Report
Showing posts with label saving tips. Show all posts
Showing posts with label saving tips. Show all posts
Tuesday, April 21, 2009
Monday, April 20, 2009
Newbie to ASM & ASW?
Just to share a bit more about Amanah Saham Malaysia & Amanah Saham Wawasan as some of you might be asking what is this all about.
ASM is a fund launched by PNB on year 2000 while ASW was launched back in 1996 when Dr. Mahathir first conceptualised the Wawasan 2020 vision. So far, both the funds performance has been very consistent and profitable.
To purchase the fund, you can walk in to any of the following banks:
i) Maybank
ii) RHB
iii) CIMB
iv) Post Offices
Just prepare at least RM 100 if you are opening a new account. Each unit cost RM 1. The past dividend payouts for ASM are listed as below:
ASM : 2006 - 6.75% 2007 - 6.80% 2008 - 7.80% 2009 - 6.25%
ASW: 2006 - 6.80% 2007 - 8.00% 2008 - 7.00%
ASM announces its dividend on 31st March every year while ASW announces on 31st August.
ASM is a fund launched by PNB on year 2000 while ASW was launched back in 1996 when Dr. Mahathir first conceptualised the Wawasan 2020 vision. So far, both the funds performance has been very consistent and profitable.
To purchase the fund, you can walk in to any of the following banks:
i) Maybank
ii) RHB
iii) CIMB
iv) Post Offices
Just prepare at least RM 100 if you are opening a new account. Each unit cost RM 1. The past dividend payouts for ASM are listed as below:
ASM : 2006 - 6.75% 2007 - 6.80% 2008 - 7.80% 2009 - 6.25%
ASW: 2006 - 6.80% 2007 - 8.00% 2008 - 7.00%
ASM announces its dividend on 31st March every year while ASW announces on 31st August.
ASW & ASM is back again
Missed the opportunity to grab ASW and ASM trust fund last year? Don't worry, 3.3 billion units will be out for grabs starting tomorrow. Each person can only purchase up to 20,0000 units. Be careful when you are queuing with your loaded bag of money. :) . Here is the details:
http://www.thestar.com.my/news/story.asp?file=/2009/4/20/nation/20090420114255&sec=nation
http://www.thestar.com.my/news/story.asp?file=/2009/4/20/nation/20090420114255&sec=nation
Wednesday, August 6, 2008
Being calculative for the wrong reasons
City folks are calculative, in certain sense. They calculate the tolls that they are able to skip by choosing different routes to reach their destination. They calculate how much points they could earn on Bonus Link when making a decision to purchase a product. They figure out which computer shop to visit from lowyat.net before purchasing digital peripherals. They try different ways and spent a lot of time convincing their banks to waive the credit card annual fees.
We are always calculative on little things that are well publicised. Everyone in the city knows about toll-skipping routes, you will looked dumb for not knowing that. Even ladies shop often in Low Yat nowadays. We often overlooked the non-obvious stuff when we choose to be calculative. I will bring out a few simple examples.
Most of the people working city owns more than one bank account, even there is only one which is active. This is partly because most of us opt to have a career change every 2 to 3 years. Most of the companies insist their employees to have accounts with the bank they dealt with. Many therefore ended up with 3 or 4 ATM cards. I know of a friend who owns 8 ATM cards. Are you aware of how much an ATM card cost per annum? It is RM 8 per annum, regardless of your usage(for most banks). 8 cards would mean RM 64 per annum. You will seldom notice it because it is automatically deducted from your bank account. You will not feel the pinch as it is a minimal sum compared to your savings in bank. Do you really need all your ATM cards ? For your information, my ATM card is also my credit card. I pay RM 0 for ATM facilities although my daily withdrawal limit is capped to RM 3000. Of course, my credit card annual fees are normally automatically waived by the banks without even needing me to call them. (I only stick to one credit card to focus my spending on one card)
Many know how much they paid for their road tax every year but not their car insurance. We always get runners to renew our insurance and road tax without knowing much about the details. Do you know that your car value depreciates year by year ? This results in lower insurance premium. However, most drivers are not aware of this. They paid whatever standard amount which is advised by their insurance agents. The premium for RM80K and RM60K can be very different. Are you aware of that?
The list of examples will never end if I decide to cite every one of them. Advice for the day, it's good to be calculative at times, but not for the wrong reasons.
We are always calculative on little things that are well publicised. Everyone in the city knows about toll-skipping routes, you will looked dumb for not knowing that. Even ladies shop often in Low Yat nowadays. We often overlooked the non-obvious stuff when we choose to be calculative. I will bring out a few simple examples.
Most of the people working city owns more than one bank account, even there is only one which is active. This is partly because most of us opt to have a career change every 2 to 3 years. Most of the companies insist their employees to have accounts with the bank they dealt with. Many therefore ended up with 3 or 4 ATM cards. I know of a friend who owns 8 ATM cards. Are you aware of how much an ATM card cost per annum? It is RM 8 per annum, regardless of your usage(for most banks). 8 cards would mean RM 64 per annum. You will seldom notice it because it is automatically deducted from your bank account. You will not feel the pinch as it is a minimal sum compared to your savings in bank. Do you really need all your ATM cards ? For your information, my ATM card is also my credit card. I pay RM 0 for ATM facilities although my daily withdrawal limit is capped to RM 3000. Of course, my credit card annual fees are normally automatically waived by the banks without even needing me to call them. (I only stick to one credit card to focus my spending on one card)
Many know how much they paid for their road tax every year but not their car insurance. We always get runners to renew our insurance and road tax without knowing much about the details. Do you know that your car value depreciates year by year ? This results in lower insurance premium. However, most drivers are not aware of this. They paid whatever standard amount which is advised by their insurance agents. The premium for RM80K and RM60K can be very different. Are you aware of that?
The list of examples will never end if I decide to cite every one of them. Advice for the day, it's good to be calculative at times, but not for the wrong reasons.
Tuesday, July 29, 2008
The Wish List
I love to be young. I am easily satisfied during my younger days. I am delighted when I got my first mountain bike, overjoyed when I bought my first car using my hard-earned money during university days. It's very hard to describe my joy in words. However, I am supposed to celebrate joyfully upon settling my home loan last year but I wasn't really overjoyed. The only feeling I had was, relieved.
One of the hardest thing to to overcome in city is temptation, and one of the hardest thing to achieve is satisfaction. I have to admit human are greedy in nature but temptation makes it even harder for people to survive happily in the city. I can still recall vividly that the best ice-cream in my hometown were Walls and Nestle. (FYI, my hometown is a small town with a population of about 100,000). There is no Hagen Dazz, Baskins, NZ Natural, you name it. Peer pressure makes it hard for you not to taste them, especially if you are a young working middle class. What makes it worse is that once you have tasted them, you will never be able to appreciate Walls and Nestle again. Life is hard, our decisions are always contradicting, huh?
To satisfy all your needs, you will have to earn more. Some chose 0 % payment scheme to satisfy their needs while some work day and night just to afford higher taste. I knew this will never end. I knew I couldn't afford everything I wanted. I came out with a solution for myself, a wish list.
My wish list is supposed to make myself happy in every milestone of my life while helping me to control my spending habits. Some milestone were based on accumulated wealth while some were based on personal achievements. The wish list is meant to be a reward scheme to make my family and myself happy especially when I have achieved certain milestone. Wish list is also a way to drive myself harder to achieve something in life in order to enjoy the carrots.
I will probably share my wish list as snippets in future entries. If you are finding yourself in a dilemma to own something you wanted a lot, create a wish list. You will be happier, someday.
One of the hardest thing to to overcome in city is temptation, and one of the hardest thing to achieve is satisfaction. I have to admit human are greedy in nature but temptation makes it even harder for people to survive happily in the city. I can still recall vividly that the best ice-cream in my hometown were Walls and Nestle. (FYI, my hometown is a small town with a population of about 100,000). There is no Hagen Dazz, Baskins, NZ Natural, you name it. Peer pressure makes it hard for you not to taste them, especially if you are a young working middle class. What makes it worse is that once you have tasted them, you will never be able to appreciate Walls and Nestle again. Life is hard, our decisions are always contradicting, huh?
To satisfy all your needs, you will have to earn more. Some chose 0 % payment scheme to satisfy their needs while some work day and night just to afford higher taste. I knew this will never end. I knew I couldn't afford everything I wanted. I came out with a solution for myself, a wish list.
My wish list is supposed to make myself happy in every milestone of my life while helping me to control my spending habits. Some milestone were based on accumulated wealth while some were based on personal achievements. The wish list is meant to be a reward scheme to make my family and myself happy especially when I have achieved certain milestone. Wish list is also a way to drive myself harder to achieve something in life in order to enjoy the carrots.
I will probably share my wish list as snippets in future entries. If you are finding yourself in a dilemma to own something you wanted a lot, create a wish list. You will be happier, someday.
Friday, June 6, 2008
The nightmare that came true: High Inflation Era
I was reading NST Online when the bad news came. Yes, the nightmare came true, fuel price hits RM2.70 per litre. Literally, if you are driving a Wira which consumes about 1litre/10KM, you will be paying about RM 2.70 for a Char Kway Teow which costs you RM4.50 5KM away (to and fro makes it 10KM) from your house. It's tough to imagine but it is happening in front of our eyes!
Everybody will be hit. Higher income group will be the least affected group while middle class people will suffer the most. We are witnessing a downgrade of middle class income group to lower-middle class income group. Our dear Tun M has given his thoughts from a leader's perspective There are also strikes by DAP asking for a decrease on fuel prices. What will happen next and what we can do as middle class?
Though I am not an economist, but I reckon that severe after effects will follow through, some of the after affects are as below
1. Rise of transportation cost
I bet you that even POS Malaysia will be increasing their rates for postage and delivery services. McD Delivery might charge you with a 50 % hike for their delivery services as well.
2. Stock market crash
The business will be hit hardly due to high cost of inflation and slowing down of local consumerism activities. Stock market will not crash immediately but throughout the next few quarters, businesses will feel the pinch.
3. Rising rates of BLR
Inflation will definitely happen. One of the best way to curb inflation is to increase borrowing costs. Beware if you are taking a housing loan with fluctuating BLR rates. To contain inflation, BLR can be raised to 8-8.5 %. If you are taking a 300K loan, it will mean that you will need to pay RM500 more per month if the BLR is fixed at 8.5 % instead of 6.75%
4. Decrease in Real Estates Value
I agree with real estate experts that properties situated far away from cities will suffer from depreciation. However, I certainly do not agree that higher end properties that is near to the city will experience a boom in prices. A lot of houses and apartments around high-end areas such as Damansara and Sri Hartamas are rented out as quarters for restaurant and cafe workers. With high fuel prices, fine-dining and entertainment industries will definitely experience a drop in business volume. With a lot of vacancies for house rental in high end areas, do you think the property value will go up?
5. Soaring prices of hawker food
Hawker food business might go to an end. Would you pay RM 7 for a plate of Char Kway Teow? This is the reality, hawker food will cost more than today's prices of RM4.50 on average. When a plate of Wan Tan Mee cost you RM7, you will be thinking, I would rather cook myself! Even a pack of Maggie Mee with an egg cost you more than RM1 now, what do you expect,:).
6. Gen Y learning curve
We are living in an era where Gen Y pampered kids finally started their life journey seeking jobs. Gen Y will have a hard time looking for jobs as they normally ask for high pay and unable to cope with stress. It's a time for them to learn what is hardship or the country will fail with low productivity.
7.Widening of social gap
Middle class income group used to be able to afford imported Thai rice, which cost about RM25 instead of RM50 now for 10KG. Yes, they still can afford it now but everyone will think twice before buying. A lot of middle class people will switch to value-for-money, which suggest a downgrade in their lifestyle and standard of living. It turns out to be, you can only purchase imported fragrant rice without second thoughts when you are taking a 5 figure salary. And sorry to Gen Y again, you can no longer afford a Vios on your own for your first job.
8.Reduce of Office demand
Many will opt for SOHO and business owners will look for cheaper locations which is closer to their homes. Don't you think so ?
9. Credit Card Woes
Credit card companies will be forced to increase their minimum wage requirements but many will still get it. Gen Y debts will be growing faster than ever. Savings will be something that is easy to talk about but hard to be put into practice, especially when you are living in city.
10.Depreciation of MYR
Malaysian Ringgit might fall to lower levels due to pulling out of foreign funds as our country has become less attractive for business. Buy some Singapore dollar or open an account in Singapore,:).
Disastrous. What can we do then ? How to survive in city with such circumstances? I have provided some tips in my previous post. But i would like to give more tips here, with regard to the hike in fuel prices.
Saving Tips
1. Work from home
Suggest to your boss that to work from home on alternate Fridays.
2. Use Social Network to Carpool
Somebody please create some apps to carpool using Facebook. Social network gives you the trust to car pool with unknown strangers.
3. Plan your shopping list
Plan your groceries to avoid having to go out again just to get some soy sauce
4. Optimized your driving speed
Drive at off peak hours and average speed of 90-100km/h if possible
5. Food delivery
If you often drive out for lunch or dinner, try considering food delivery once or twice a week.
6. Register for Online Payment
Online payment and banking can save your time and fuel.
7. Check catalogues before shopping
Buying gadgets in Lowyat? Check them in Lowyat.net. Avoid wandering around searching shop to shop. Your parking fees and time might not worth the effort. For hypermarkets, most of them are distributing brochures house to house now, check them before you shop.
8. Call less, Call for free using Flekx.com
Call mobile phones and pstn using www.flekx.com softphone. You can save a great deal!
Financial Tips
1. Fixed Rate Loan
If you planning to get a housing loan, go for fixed rate loan.
2. Cash
Keep some cash , probably worth 3-6 month of your pay, preferably some in foreign currencies.
3. Stock market/Mutual Fund
Reduce holdings in share market or mutual funds and wait for a downfall to enter again,:)
4. Properties
Try to get out of properties. This is a bad time to get a second property if you have already got one. Properties market will collapse if inflation is uncontrollable.
5. Foreign Currencies
Carry trade some foreign currencies especially SGD.
Look for other posting below for more tips!
Take care guys.
Everybody will be hit. Higher income group will be the least affected group while middle class people will suffer the most. We are witnessing a downgrade of middle class income group to lower-middle class income group. Our dear Tun M has given his thoughts from a leader's perspective There are also strikes by DAP asking for a decrease on fuel prices. What will happen next and what we can do as middle class?
Though I am not an economist, but I reckon that severe after effects will follow through, some of the after affects are as below
1. Rise of transportation cost
I bet you that even POS Malaysia will be increasing their rates for postage and delivery services. McD Delivery might charge you with a 50 % hike for their delivery services as well.
2. Stock market crash
The business will be hit hardly due to high cost of inflation and slowing down of local consumerism activities. Stock market will not crash immediately but throughout the next few quarters, businesses will feel the pinch.
3. Rising rates of BLR
Inflation will definitely happen. One of the best way to curb inflation is to increase borrowing costs. Beware if you are taking a housing loan with fluctuating BLR rates. To contain inflation, BLR can be raised to 8-8.5 %. If you are taking a 300K loan, it will mean that you will need to pay RM500 more per month if the BLR is fixed at 8.5 % instead of 6.75%
4. Decrease in Real Estates Value
I agree with real estate experts that properties situated far away from cities will suffer from depreciation. However, I certainly do not agree that higher end properties that is near to the city will experience a boom in prices. A lot of houses and apartments around high-end areas such as Damansara and Sri Hartamas are rented out as quarters for restaurant and cafe workers. With high fuel prices, fine-dining and entertainment industries will definitely experience a drop in business volume. With a lot of vacancies for house rental in high end areas, do you think the property value will go up?
5. Soaring prices of hawker food
Hawker food business might go to an end. Would you pay RM 7 for a plate of Char Kway Teow? This is the reality, hawker food will cost more than today's prices of RM4.50 on average. When a plate of Wan Tan Mee cost you RM7, you will be thinking, I would rather cook myself! Even a pack of Maggie Mee with an egg cost you more than RM1 now, what do you expect,:).
6. Gen Y learning curve
We are living in an era where Gen Y pampered kids finally started their life journey seeking jobs. Gen Y will have a hard time looking for jobs as they normally ask for high pay and unable to cope with stress. It's a time for them to learn what is hardship or the country will fail with low productivity.
7.Widening of social gap
Middle class income group used to be able to afford imported Thai rice, which cost about RM25 instead of RM50 now for 10KG. Yes, they still can afford it now but everyone will think twice before buying. A lot of middle class people will switch to value-for-money, which suggest a downgrade in their lifestyle and standard of living. It turns out to be, you can only purchase imported fragrant rice without second thoughts when you are taking a 5 figure salary. And sorry to Gen Y again, you can no longer afford a Vios on your own for your first job.
8.Reduce of Office demand
Many will opt for SOHO and business owners will look for cheaper locations which is closer to their homes. Don't you think so ?
9. Credit Card Woes
Credit card companies will be forced to increase their minimum wage requirements but many will still get it. Gen Y debts will be growing faster than ever. Savings will be something that is easy to talk about but hard to be put into practice, especially when you are living in city.
10.Depreciation of MYR
Malaysian Ringgit might fall to lower levels due to pulling out of foreign funds as our country has become less attractive for business. Buy some Singapore dollar or open an account in Singapore,:).
Disastrous. What can we do then ? How to survive in city with such circumstances? I have provided some tips in my previous post. But i would like to give more tips here, with regard to the hike in fuel prices.
Saving Tips
1. Work from home
Suggest to your boss that to work from home on alternate Fridays.
2. Use Social Network to Carpool
Somebody please create some apps to carpool using Facebook. Social network gives you the trust to car pool with unknown strangers.
3. Plan your shopping list
Plan your groceries to avoid having to go out again just to get some soy sauce
4. Optimized your driving speed
Drive at off peak hours and average speed of 90-100km/h if possible
5. Food delivery
If you often drive out for lunch or dinner, try considering food delivery once or twice a week.
6. Register for Online Payment
Online payment and banking can save your time and fuel.
7. Check catalogues before shopping
Buying gadgets in Lowyat? Check them in Lowyat.net. Avoid wandering around searching shop to shop. Your parking fees and time might not worth the effort. For hypermarkets, most of them are distributing brochures house to house now, check them before you shop.
8. Call less, Call for free using Flekx.com
Call mobile phones and pstn using www.flekx.com softphone. You can save a great deal!
Financial Tips
1. Fixed Rate Loan
If you planning to get a housing loan, go for fixed rate loan.
2. Cash
Keep some cash , probably worth 3-6 month of your pay, preferably some in foreign currencies.
3. Stock market/Mutual Fund
Reduce holdings in share market or mutual funds and wait for a downfall to enter again,:)
4. Properties
Try to get out of properties. This is a bad time to get a second property if you have already got one. Properties market will collapse if inflation is uncontrollable.
5. Foreign Currencies
Carry trade some foreign currencies especially SGD.
Look for other posting below for more tips!
Take care guys.
Monday, April 9, 2007
Planning for your lifestyle .....
A lot of my friends have been asking my opinion about financial planning. Everybody seems to understand Fixed Deposit (a.k.a. FD) is not the best way to grow ur money but nobody seems to be able to give the best advice in managing your money. This is the reason i named the title "Planning for your lifestyle" rather than "Planning for your finance".
Our financial needs, plans and protection depend a lot on our lifestyle. I would classify our financial distribution into 4 different areas: Expenditure, Savings , Investments, Protection.
I have write a lot about expenditure and income generation, let's not talk about it today. (starting to get bored about it). Therefore, we will discuss about savings, investments and protection. I would start with protection as I think a lot of people got trapped in this area when they enter their working life phase.
During the 90's, buying insurance is "the thing" that everyone should do to protect your family and you kins. Yes, everybody loves their family and hope that in the event of unfortunate happenings, their family is protected and income is assured. Less than many people actually know that a lot of people are over protecting themselves and their family which causes them to channel inpropotionate amount of their income into the Protection quadrant of their financial distribution. When you first started work, how much you actually have is probably less than RM 30K during the first two years of your working life. Insurance agents always like to persuade their client to invest in insurance as a form of Investment. This eventually confused a lot of insurance holders actually found out that buying insurance is a liablity rather than investment. If an insurance agent tells you that you only need to pay X amount of years to get yourself covered up to 70 years old, they are only telling you the half truth. Always read the fine lines before you sign anything. Most of the time, you are required to extend your payment period or they will deduct the amount from your promised bonus given based on your insurance premium. Therefore , I always suggest step protection - increase your premium as your assets and family grow. Besides that i always emphasize insurance as a protection; so , protect yourself with medical insurance rather than life insurance especially when you are single. Money is more important when life needs to be prolonged. So , never over commit for protection. My suggestion is to just commit less than 5 % of your income for insurance protection. Anything more than that will surely be a burden for young working adults.
Investment is always interesting to talk about. I am sure you always envy your friends who tells you how much they make from stock market. I will have an idiots guide to Malaysia share market later. However, I suggest that a young working adult should not invest more than 20 % of their income in shares. I will talk about the risk and share market analysis later. Trust funds is also good for investments. But, never over invest trust funds with your savings. I will also provide a study on trust funds which i have experience for more than 10 years. Generally, there are 3 types of investments.
High Risk: Forex & Commodity (very high risk), Equity (share market)
Medium Risk: Trust Fund, Properties
Low Risk: Bonds, Government-Linked Trusts Funds(eg. Amanah Saham Wawasan)
Savings? How much you should save ? Of course, saving as much as possible is the best! However, it is recommended that you save at least 6 months worth of your salary for rainy days. Never treat savings as investments, vice versa. Savings comes with very very minimum risk, you can say that it has no risk at all. (I think you never heard of any Malaysia bank went bankrupt for the past 10 years).
The last question you might want to ask me. What all these 4 things have to do with my lifestyle ? The lifestyle you wanted will determined where you should put your money in. If you choose to be single, you might be able to risk more. Therefore, you can invest more and put less money for protection. If you plan to have kids, probably you need to save more , and buy some protection for your kids. If you are still single and plan to get a girlfriend(for guys), probably you might want to put more money on expenditure(spend on clothes and perfumes) and investments(for marriage) while less on protection.
My next major entry will talk more about investment particularly on stock market. Watch out.
Our financial needs, plans and protection depend a lot on our lifestyle. I would classify our financial distribution into 4 different areas: Expenditure, Savings , Investments, Protection.
I have write a lot about expenditure and income generation, let's not talk about it today. (starting to get bored about it). Therefore, we will discuss about savings, investments and protection. I would start with protection as I think a lot of people got trapped in this area when they enter their working life phase.
During the 90's, buying insurance is "the thing" that everyone should do to protect your family and you kins. Yes, everybody loves their family and hope that in the event of unfortunate happenings, their family is protected and income is assured. Less than many people actually know that a lot of people are over protecting themselves and their family which causes them to channel inpropotionate amount of their income into the Protection quadrant of their financial distribution. When you first started work, how much you actually have is probably less than RM 30K during the first two years of your working life. Insurance agents always like to persuade their client to invest in insurance as a form of Investment. This eventually confused a lot of insurance holders actually found out that buying insurance is a liablity rather than investment. If an insurance agent tells you that you only need to pay X amount of years to get yourself covered up to 70 years old, they are only telling you the half truth. Always read the fine lines before you sign anything. Most of the time, you are required to extend your payment period or they will deduct the amount from your promised bonus given based on your insurance premium. Therefore , I always suggest step protection - increase your premium as your assets and family grow. Besides that i always emphasize insurance as a protection; so , protect yourself with medical insurance rather than life insurance especially when you are single. Money is more important when life needs to be prolonged. So , never over commit for protection. My suggestion is to just commit less than 5 % of your income for insurance protection. Anything more than that will surely be a burden for young working adults.
Investment is always interesting to talk about. I am sure you always envy your friends who tells you how much they make from stock market. I will have an idiots guide to Malaysia share market later. However, I suggest that a young working adult should not invest more than 20 % of their income in shares. I will talk about the risk and share market analysis later. Trust funds is also good for investments. But, never over invest trust funds with your savings. I will also provide a study on trust funds which i have experience for more than 10 years. Generally, there are 3 types of investments.
High Risk: Forex & Commodity (very high risk), Equity (share market)
Medium Risk: Trust Fund, Properties
Low Risk: Bonds, Government-Linked Trusts Funds(eg. Amanah Saham Wawasan)
Savings? How much you should save ? Of course, saving as much as possible is the best! However, it is recommended that you save at least 6 months worth of your salary for rainy days. Never treat savings as investments, vice versa. Savings comes with very very minimum risk, you can say that it has no risk at all. (I think you never heard of any Malaysia bank went bankrupt for the past 10 years).
The last question you might want to ask me. What all these 4 things have to do with my lifestyle ? The lifestyle you wanted will determined where you should put your money in. If you choose to be single, you might be able to risk more. Therefore, you can invest more and put less money for protection. If you plan to have kids, probably you need to save more , and buy some protection for your kids. If you are still single and plan to get a girlfriend(for guys), probably you might want to put more money on expenditure(spend on clothes and perfumes) and investments(for marriage) while less on protection.
My next major entry will talk more about investment particularly on stock market. Watch out.
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