What to do with RM10,000?

Guys, I have been wondering what you will do if someone gives you RM10,000 today? If this RM10,000 is a windfall, what will you do with it? Let me start and I would like you to share your thoughts here.

In this current economy situation, I think I will save the RM10,000. Why? It will surely boost my savings. At a yearly return of 4%, RM10,000 will become RM18,000 in 15 years! Not much but it surely helps. I could use this for my daughter’s education plan in the National Education Savings Scheme (SSPN). Savings of up to RM3,000 in SSPN are also tax-exempted and deposits are guaranteed by the government.

Now I wanna know about your RM10,000. What will you do?

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14 Comments so far

  1. mohd rosydi on November 16th, 2009

    saving in ASB and use for my wedding

  2. syed on November 16th, 2009

    derma rm5k
    lg rm5k blanja/ simpan

  3. roslimh on November 16th, 2009

    Great thoughts Rosydi and Syed. May Allah Bless us all, insyaAllah.

  4. Nizam on November 16th, 2009

    to me, it’s better to do a budget..how many % allocated to expand my current business, how many % to allocate to new business, and remaining % for savings as a back up in case something bad happen.

  5. hakkimi on November 16th, 2009

    buy share Bank Persatuan 5K maximum. Bank Persatuan dividend 10%. And another 5% ASB or Unit Trust

  6. roslimh on November 16th, 2009

    another thing with 10K, we could use to clear off credit card debts.

  7. lupus As lapis on November 16th, 2009

    giving to my parent

  8. wady on November 16th, 2009

    saving in pruretirement accumulator,guranted income 9% yearly,da tua nnt xperlu kerja lg

  9. Zawawi on November 16th, 2009

    Salaamun’alaikum Wabarik, first let me share what the bank didn’t want most of us to know. Your money should be kept with them, not even by you. Go ahead, open up an account. The truth is, you’ll stop the “Money Flowing” within you, but it’s flowing for them! Every single penny from it, would created 500 – 700% increase in their business profits. The savers get only less than 10% from what they save! Just spend it, even if its not equivalent to what you hopefully need, some will still benefit from it. Like, your family and relatives, or just give it straight to God! Whatever we give unto Allah (Sadaqah & Zakat), He will surely Give back… more than any banks in the world could give us back in return. Hehehe… Even our Prophets and his beloved disciples never kept more than 1/3 of what they need to live daily. They just simply give it away. Yet they never hunger nor worry about anything. Spend (Live) on Giving.

  10. Sapian Basri on November 16th, 2009

    I will use it on 4 things:
    -my mother
    -my family(me and wife)
    -credit card debts
    -saving(Unit Trust)
    RM2,500 for each one will be nice.

  11. roshaiti on November 16th, 2009

    RM10K is not big, but enough to buy gold…since gold is at its highest price now, park this money in share market to make a little money, withdraw when gold price is lower….

  12. aziean on November 18th, 2009

    10k it’s not a big money..well can solve some of ur probs i guess..

  13. roslimh on November 18th, 2009

    Hey Guys,

    Thanks for all your thoughts. That’s the whole idea here, 10K is not big, if I put 1M surely you have more bigger thoughts and ideas like buying house, going for holidays, but new cars, etc…but 10K is enough for us to think about our daily life needs.

    Keep the idea flowing guys…see you later. Yesterday I am abck to my other blog which I could not access due to technical glitch. Almost 7 months without accessing and updating and yesterday I ma back there. See it here: http://www.mysimpleonlinebusiness.com/blog/blogging-tips/i-am-back-at-mysimpleonlinebusiness-blog

  14. izhar b rahmat on November 22nd, 2009

    pay my debts

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