As I work longer, I just realized that, they are not just that. They are actually more and I was unfortunate that my parents did not tell me or have compiled a list of commitments that I would have in the future for me.
Without realizing, I started to commit here and there little by little and they went beyond just house and car. I also realized that, some months things go out of control and I ended up in deficit position. So before things go out of control for you, let me lay out the list of possible commitments you are going to have:
Car loan installment
This commitment might take a huge amount of your salary depending on your car. This might range from RM400-RM1000 per month. This commitment usually will last for 9 years.
Motorbike loan installment
If you have a motorbike instead of a car, your commitment for motorbike could range from RM200-RM500 per month. The period is usually going to be 3 to 5 years. Again, depending on your motorbike.
Road tax & insurance for your vehicles
Road tax for your vehicles is also highly dependent on your vehicle. The easiest formula is the more expensive your car the higher your road tax is. Can start from RM200-RM1000 per year. Can go as long as you own the vehicle.
House rental
If you are someone who is migrating to the city for work. You might also have to commit to house rental. In the city, the rate is RM300-RM600 per room per month. This rate is for the house that is 20-30 KM from the city and the type of house is condominium and apartment. Can go as long as your stay.
Telephone bills
Telephone bills will be around RM100 per month.
Insurance
Insurance is optional.
- Housing loan installment
- Cukai taksiran/ Assessment
- Apartment service fee
- Indah Water
I am not sure about you but this is how I manage my commitments:
My Commitment
or
you can save them to your drive
