Thursday, July 15, 2010

My First Pay


What did you do with your first pay? Some spend it all, some keep it all (fairly difficult to achieve), some invest and some...well I don't know...why don't you tell me? I received my first pay about 3 weeks ago and here's the breakdown of where the money went.

The first thing I did was give a small portion of it to my dad. This is a definite every month...it's the least I can do for all these years.. And then of course there's the compulsory EPF and SOCSO contributions. Both important for our own future though I did not opt to increase my EPF contribution to 11% from the current 8%. I just want more cash flow for the time being...I must admit though that the latest dividen is pretty high at 5.65%.

Anyway since I'm now earning an income, I've also taken on paying the internet bills (ok mostly it's because I'm the one using it...) as well as monthly petrol expenses, credit for my handphone and daily meals among other things. On a personal basis, I've only bought a new pair of sports shoes for myself and my dad (well it was a buy-one-free-one promo so why not?), treat my dad to dinner for his birthday and of course the must have Ipoh snacks for Adrian whenever he comes down (twice so far).

Yes, I've become very much aware on how I spend my money nowadays. I guess it's just different from getting pocket money from your parents when you were small. Definitely thinking twice about spending that RM 10 on a movie I never intended to watch. Darn I wish I could use my student card on weekends! Oh I forgot to mention that I'm holding off paying back the education loan till they send the letter in about 6 months time. Think that's a good idea? I know a lot of people are doing that...haha...

So what about the remainder of my pay you ask? In my savings. Would like to invest in something but I'm currently uneducated. With prices and inflation increasing faster than my pay or FD interests ever will, it would be wise to think of something. Just don't give me those get rich quick schemes please. Thank you.

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