Debt Protection

1st important area that we should consider and do before start planning your lifestyle is Debt Protection.

1. Most graduate took education loan. Whether it was from PTPTN, education loan, bank loan, personal loan or using your own saving. it still a debt and it need to be protected against uncertainty in life.
Menurut Islam "Tidak sampai roh orang yg meninggal dunia ke langit kecuali sehingga semua hutangnya dilangsaikan melalui waris atau dihalalkan oleh si pemiutang".

2. The moment you start work, the first thing you do is usually buying a vehicle. whether it is a motor bike, bicycle, car or MPV it's still a debt that you owe from the financial institution.

3. Not even finishing your hire purchase loan, you already plan to buy a home. Again you start owing your second big debt from your Employer or financial institution.

4. The moment your salary/income already reach RM2500 and above , the bank start calling you and offering you a Credit Card. Again you start a new Debt habit system.

5. After few months nopt even years, your spending on your credit card already reach the maximum limit. Then you start taking another personal loan to setle your Credit Card....

6. The worst thing, after having good income your pun mau ada better lifestyle. Start another loan, buying another house and keep it..thinking of the 2nd home is for your children. End up you paying the installment the house abandoned bacause the Developer got a financial problem. The goals of investing in property now become more burden to you because you still have to pay for the interest and the house is not completed.

7. Finally even worst..because money not enough, you start using your children education savings, ASB, ASN, insurance etc to setle off your debt. Before you could finish your debt your eldest son/daughter already want to go to Higher Institution and need a money. Another episode of debt start rounding again. What a pity.

8. Dear readers... what I wrote here is not to entertain your reading lesure neither keep you follow my blog but this is a true story and what happen to most of the people out there...I hope this could make you understand and see the scenario when you do not plan and discipline yourself. Understand that most people dont have that good discipline , my advise pls find people who could guide and discipline you to follow your suitable and right financial planning for you.

9. Adviser who is qualified and experienced is the right person to deal with.