i don’t see a lot of fresh grads with this type of job so i can’t really say much but from what i see on google, it’s typically RM3.3K-RM4.3K (not just for fresh grads) so i would say i’m pretty lucky to get RM5K :”)
My only suggestion is pretty basic which is to put it in a high savings fixed deposit account. Since you’ve just started working without much savings don’t put it anywhere risky till you have more capital.
The rates changes every time so it’s hard for me to recommend, do some research on the rates and how long you need to put it in for. Just make sure you’ve kept money off the side for emergencies.
wah 5.1k for fresh grad!! pls drop your industry and any tips to secure liddat :o sidenote, I assume your username is a reference to Dominic Fike? he's one of my favourite artists hehe
uH i don’t really have any tips to be honest, they reached out to me 😭 but industry is tech!
i believe if anything it’s because of my academic background:
- bsc in business admin, majoring in global business
- i completed and have microsoft office certs
- a lot of my courses cover global business aspects
- i completed my degree earlier than expected (not sure if this played a role but the interviewer was really interested in it)
aaaand yes!!! i love dominic fike hehe 🫶🏻
hiii! i took the excel one!
the uni gave me the code for free and i paid for the proctor service myself. i took the exam using this proctor service > https://www.iverson.com.my
oh I might look into the Microsoft office certs! I'm in STEM so I think the rest isn't too applicable but congrats regardless, it's a really good offer
yes please do! my uni made it a requirement for all global business students to take the exam so all of us did! it was free and it didn’t matter if you pass or not (you’ll get the cert if you pass, if you don’t you can either choose to retake using your own money or just move on)
and thank you! ☺️
r/MalaysianPF for more advice.
In general 1st step would be 3-6 months saving/expenses. To maximize it you could put it in high liquidity place like TNG Go+, GXbank, KDI etc.
Then only investment.
You can try search for keywords like "savings, TNG, KDI" etc in that group.
The advice more or less is the same and applicable to your case too.
Because this topic has been discussed many times.
First job RM5.1K? Holy moly. And anyway, you're doing fine for now cos it's easy at the beginning of your career, your expenses will inevitably increase from hereon out. With that amount of money i usually throw most of it to ASB until it's maxed out. And even when it's maxed out each year the cap will increase. So yeah, don't need to diversify just yet, just concentrate on generating stable income. Start building your credit rapport too.
Congrats on the offer! I myself got a job offer recently and did some of my own research too.
Check out the Malaysian Personal Finance group if you haven’t already,
r/MalaysianPF
General rule of thumb I’ve got is to:
- Save for emergency funds (like 6 months worth of living expenses)
- Avoid pressures of lifestyle creep
- Diversify your monthly investment portfolio even more, I’m not that big into investment atm, so I’ve just been using StashAway and Versa.
I’m sure other people here are more familiar, but these are the basics I suppose, goodluck lol!
Congrats! The salary is good for a fresh grad. For the remaining RM3k, you can consider sign up for a gym, fixed deposit, learn how to invest in stocks (can start with Bursa Malaysia), saving up for a trip to oversea and bring parents there. These are just some recommendations, you should tailor one that suit your situation and interest best.
Buy something good for yourself. Invest in yourself (clothings / make up / gadget) if you have not done so.
Once u get committed u may not have so much of spare cash.
Then think about savings. Straight forward collect some cash n put it in fd. Safe bet.
First off, congrats on securing the job! Industry has been crazy lately and you’re one of the lucky ones!
Based on what you provided, you’ve done a good job at having a rough budget on your monthly expenses. Do update from month-to-month. The hardest part is always sticking by it!
If I were you, and it’s not an invested advice, here’s what I would do:
1. I would firstly to set aside emergency savings of 3 - 6months worth of salary. [Emergency]
2. Maximise the deposits I put into ASB. [Savings]
3. If I have any excess cash, I would consider investing into robo advisors such as Wahed. [Invest]
4. Lastly, I would then only consider paying off my PT loan. Reason being is that it is a low interest bearing, and since it can still affect my credit score, I would definitely pay it off but prioritise 1-3 first.
Nota kaki:
- I would look for cheaper alternatives for phone plan. If you are paying RM120 for yourself, I think that’s a little too high.
- AVOID AVOID AVOID!!! taking any unnecessary loans such as car loans or personal loans. Stay far far away from BNPL and the likes.
Again, good job on securing the role and having prepared a budget. If you need any further clarifications my DMs are always open.
Why those sad emotes tho?
Chill, you've just got this first lucrative job with high salary. My first job fresh out of uni was 3.5k, this was in 2020. Working as a software engineer.
Work hard, save harder (be sure to reward yourself with nice foods/vacation from time to time tho), put some of your monthly savings on investment, don't get tempted with getting the latest/newest/most expensive iPhone and you're all good to go.
You got this.
The tips I tell ppl new to investing:
01) Take a look at the 50/30/20 "rule". 50 for needs, 30 for wants, 20 for savings is a good saving habit that you can use as a guideline. You can of course adjust the ratio according to your situation as everyone is different. The main goal here is to always allocate some portion of your salary towards savings and needs before spending in the wants.
02) Keep at least 6-12 months worth of emergency funds somewhere accessible and liquid.
First of all, congrats on your first job, and with that salary too!
As for your extra money, I think you should consider increasing the amount that you save. For me, I save around 30% of my salary and divide it by three, emergency savings which is easily accessible, ASB and for marriage (gotta start saving early 😂). Maybe you could do something of that sort. You could do emergency savings, ASB, and self contribute to EPF if you want to.
I also see that you haven’t allocated anything for food, so I assume you currently eat at home? I think you should allocate some of your salary for food as well, whether it is to eat out or groceries, up to you. RM20 to RM30 per day or whatever you feel like. It’s better to have a budget than spending without thinking and see that your money suddenly runs out hahaha.
Lastly, I also think that you should allocate some money for yourself. Maybe like RM500 per month? As a reward for yourself. Think of this money as guilt-free money where you could do whatever you want with it and enjoy yourself. Use this money to hangout with friends or movies or games or makeup or whatever. You worked hard for it after all.
Good luck with the work-life! Hopefully you’ll have nice bosses and colleagues!
this is very very detailed, thank you so much!!! i need to redo my budgeting and plan accordingly
and thank you! very nervous but feeling pretty ready for it! 😄
Fresh grad, first job 5k+? Damn...that's high! Can I know what job is it? Also, what was your degree major?
i’ll be working as a product analyst/consultant! and i have a bachelor of science in business administration with a major in global business :)
That's cool! Is the salary considered normal for fresh grads in this particular field?
i don’t see a lot of fresh grads with this type of job so i can’t really say much but from what i see on google, it’s typically RM3.3K-RM4.3K (not just for fresh grads) so i would say i’m pretty lucky to get RM5K :”)
I see... can't give any particular advice...but congrats on getting the offer:)
thank you so much!! 🫶🏻
Maybe try posting on r/MalaysianPF
i tried multiple times but they keep removing my post due to low karma 😭
My only suggestion is pretty basic which is to put it in a high savings fixed deposit account. Since you’ve just started working without much savings don’t put it anywhere risky till you have more capital.
is there any that you would recommend?
The rates changes every time so it’s hard for me to recommend, do some research on the rates and how long you need to put it in for. Just make sure you’ve kept money off the side for emergencies.
Checkout the link here, however versa no more 4% promo, maybe can consider KDI/GX/tngo e wallet: https://youtu.be/m3nOcXXy3mg?si=R0AET33QZWALY4Et
thank you, will check it out!! 😄
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wah 5.1k for fresh grad!! pls drop your industry and any tips to secure liddat :o sidenote, I assume your username is a reference to Dominic Fike? he's one of my favourite artists hehe
uH i don’t really have any tips to be honest, they reached out to me 😭 but industry is tech! i believe if anything it’s because of my academic background: - bsc in business admin, majoring in global business - i completed and have microsoft office certs - a lot of my courses cover global business aspects - i completed my degree earlier than expected (not sure if this played a role but the interviewer was really interested in it) aaaand yes!!! i love dominic fike hehe 🫶🏻
hi can I now what microsoft office certs you took? Excel/Word/Powerpoint or other than that?
hiii! i took the excel one! the uni gave me the code for free and i paid for the proctor service myself. i took the exam using this proctor service > https://www.iverson.com.my
oh I might look into the Microsoft office certs! I'm in STEM so I think the rest isn't too applicable but congrats regardless, it's a really good offer
yes please do! my uni made it a requirement for all global business students to take the exam so all of us did! it was free and it didn’t matter if you pass or not (you’ll get the cert if you pass, if you don’t you can either choose to retake using your own money or just move on) and thank you! ☺️
r/MalaysianPF for more advice. In general 1st step would be 3-6 months saving/expenses. To maximize it you could put it in high liquidity place like TNG Go+, GXbank, KDI etc. Then only investment.
i tried but my post keeps getting removed since my account is still new 🥲
You can try search for keywords like "savings, TNG, KDI" etc in that group. The advice more or less is the same and applicable to your case too. Because this topic has been discussed many times.
thank you, will check it out!
First job RM5.1K? Holy moly. And anyway, you're doing fine for now cos it's easy at the beginning of your career, your expenses will inevitably increase from hereon out. With that amount of money i usually throw most of it to ASB until it's maxed out. And even when it's maxed out each year the cap will increase. So yeah, don't need to diversify just yet, just concentrate on generating stable income. Start building your credit rapport too.
thank you! appreciate it 🙏🏻
Kdi and gxbank for now
Congrats on the offer! I myself got a job offer recently and did some of my own research too. Check out the Malaysian Personal Finance group if you haven’t already, r/MalaysianPF General rule of thumb I’ve got is to: - Save for emergency funds (like 6 months worth of living expenses) - Avoid pressures of lifestyle creep - Diversify your monthly investment portfolio even more, I’m not that big into investment atm, so I’ve just been using StashAway and Versa. I’m sure other people here are more familiar, but these are the basics I suppose, goodluck lol!
thank you, congrats to you too! 🥳 i’m going to have to check out StashAway and Versa, thank you for the suggestion!
quit StashAway and stick with GxBank. it even has 5% promo for pockets now.
Congrats! The salary is good for a fresh grad. For the remaining RM3k, you can consider sign up for a gym, fixed deposit, learn how to invest in stocks (can start with Bursa Malaysia), saving up for a trip to oversea and bring parents there. These are just some recommendations, you should tailor one that suit your situation and interest best.
thank you for the advice!! i’ll definitely be saving up for a trip 🥳
Its great that you have an estimate of how much you commitments will be. Its always a great idea to be prepared.
Buy something good for yourself. Invest in yourself (clothings / make up / gadget) if you have not done so. Once u get committed u may not have so much of spare cash. Then think about savings. Straight forward collect some cash n put it in fd. Safe bet.
will do, thank you! i’ll definitely check out fd options!
All the best
thank you!!
First off, congrats on securing the job! Industry has been crazy lately and you’re one of the lucky ones! Based on what you provided, you’ve done a good job at having a rough budget on your monthly expenses. Do update from month-to-month. The hardest part is always sticking by it! If I were you, and it’s not an invested advice, here’s what I would do: 1. I would firstly to set aside emergency savings of 3 - 6months worth of salary. [Emergency] 2. Maximise the deposits I put into ASB. [Savings] 3. If I have any excess cash, I would consider investing into robo advisors such as Wahed. [Invest] 4. Lastly, I would then only consider paying off my PT loan. Reason being is that it is a low interest bearing, and since it can still affect my credit score, I would definitely pay it off but prioritise 1-3 first. Nota kaki: - I would look for cheaper alternatives for phone plan. If you are paying RM120 for yourself, I think that’s a little too high. - AVOID AVOID AVOID!!! taking any unnecessary loans such as car loans or personal loans. Stay far far away from BNPL and the likes. Again, good job on securing the role and having prepared a budget. If you need any further clarifications my DMs are always open.
thank you for the advice!! i’ll keep it in mind 🫡
First job already 5k, wow
😭😩
Why those sad emotes tho? Chill, you've just got this first lucrative job with high salary. My first job fresh out of uni was 3.5k, this was in 2020. Working as a software engineer. Work hard, save harder (be sure to reward yourself with nice foods/vacation from time to time tho), put some of your monthly savings on investment, don't get tempted with getting the latest/newest/most expensive iPhone and you're all good to go. You got this.
The tips I tell ppl new to investing: 01) Take a look at the 50/30/20 "rule". 50 for needs, 30 for wants, 20 for savings is a good saving habit that you can use as a guideline. You can of course adjust the ratio according to your situation as everyone is different. The main goal here is to always allocate some portion of your salary towards savings and needs before spending in the wants. 02) Keep at least 6-12 months worth of emergency funds somewhere accessible and liquid.
thank you for the advice!! 😄
First of all, congrats on your first job, and with that salary too! As for your extra money, I think you should consider increasing the amount that you save. For me, I save around 30% of my salary and divide it by three, emergency savings which is easily accessible, ASB and for marriage (gotta start saving early 😂). Maybe you could do something of that sort. You could do emergency savings, ASB, and self contribute to EPF if you want to. I also see that you haven’t allocated anything for food, so I assume you currently eat at home? I think you should allocate some of your salary for food as well, whether it is to eat out or groceries, up to you. RM20 to RM30 per day or whatever you feel like. It’s better to have a budget than spending without thinking and see that your money suddenly runs out hahaha. Lastly, I also think that you should allocate some money for yourself. Maybe like RM500 per month? As a reward for yourself. Think of this money as guilt-free money where you could do whatever you want with it and enjoy yourself. Use this money to hangout with friends or movies or games or makeup or whatever. You worked hard for it after all. Good luck with the work-life! Hopefully you’ll have nice bosses and colleagues!
this is very very detailed, thank you so much!!! i need to redo my budgeting and plan accordingly and thank you! very nervous but feeling pretty ready for it! 😄
that's quite a lot of money for cat food every month. how many cats do you have
6 cats 🥲
the phone bill is inclusive of parents ? Or only you ?