Why recession is better than recovery?

Recession... I am not sure about others, but for a middle income person like me, it is definitely better. The bank BLR had increased from 5.55% to 6.6% now, since i last bought my first house. Our government is good enough to instruct the bank not to increase any monthly payment so that we don't feel any pinch. But beocz of this, my 30 years loan will become 41 year loan. Good right? Vote for BN!!! Mana mau cari?


For eg.
If u had 400k loan, this increase will have the same effect of being punched right on the face and there is nothing u can do about it. How about i make a lump sum payment to offset the interest charge? Forget about it becoz u need to stick for the payment at least for the first 5 years into your loan. This small 1.05% different will eat up to RM 4200/year. Or 2.5x Ipad 2 /year. This will translate to extra RM 12/ day interest for the bank. Or a full single person KFC meal/day. Arrgh...

Even for the My First House scheme, i think those earning 3k will have trouble to pay for it., esp graduates working in urban areas.

Loan= 220k

Interest= BLR-2%=4.6%

Years= 30 years. 

Monthly payment= RM 1127.81

Interest for 1st month= RM 843.33

Principa1 for 1st month= RM 284.48

If a graduate earning RM3000, expenses/month =

House= RM 1127.81

EPF= RM 330

Socso= RM 14.75

Income tax= RM 57.10

Proton Saga FL 5 years loan = RM 763

Petrol=RM 200

TNB= RM 50

Water= RM 5

Phone= RM 30

Credit card RM 50 annual fees= RM 4.20

Balance to take home= RM 420.34 or RM14/day.

Is RM 420 /month enough for food, clothes, shopping, toll, parking fees, car service in kl meh? Ipad 2, forget about it.

What to do?

Ask the pharmacist

1) Go sell roti canai. http://youtu.be/sCaQ5GC33X0

2) Go back parent's home to eat. 

3) Go windows shopping after work to save electricity. Use shopping complex toilet to save water. 

3) Go find part time.

4) Go find a rich GF.

5) Seduce your boss if she is single and then ask for increment.

5) Rent out your house rooms. 

6) Blog to earn money.

7) Pray for recession to come back. 

Leave some comments if u have other ways to earn money.