Azrin's Info Web

February 2, 2010

State of the alliance

Filed under: Codes — Tags: , , — Azrin @ 1:00 pm


To the members of the Malaysian Scottish Alliance,

Hello everyone, time to get back to work eh from a long weekend for many in the city center… Happy Hari Wilayah… Happy Thaipusam to our hindu friends… and upcoming news… well, there are none yet.

Queen Miera don’t know if there is a gathering prior to the Lunar New Year (Chinese New Year) and I’ve got no plans yet for the Valentines Day celebrations… due to family commitments and my doom waiting for me (Singapore Reservist Deployment).

But, either which, I am happy to report that the state of the group is good and looking forward to the New Moon… being that 2009 was a really crappy one which affected many people. Here are some highlights you need to keep in mind when making some financial planning this year:

Motor Insurance SKYROCKETED! Motorcycle 3rd party insurance premiums are as high as it can go, standard prices of about RM200++ and worse off if your vehicle is over 10 years old. However, if you can spare some time, the insurance companies require you to have your vehicle checked (puspakom) and it’s mandatory for MMIP. Glad news is that the inspection is doing free inspection during 8-13 Feb…

One thing is that Pos Malaysia has the Insurans Kelompok which is a quota allocated to each office,and you can get those low rates back. Motorbikes are going as low as RM68 as opposed to the standard Rm190++. Find the small under utilised offices to get it…

Another thing, change your title deed (grant) of your car or motorbike. It has been leaked that there will be a rationing of subsidised fuel in May, when the new mechanism kicks in. What happens is that only ONE PERSON CAN HAVE ONE VEHICLE. And to draw subsidised fuel, you need to swipe the owner’s MYKAD into the reader and verify, before the cheap fuel is dispensed. Like the fleet card subsidy thingy. Point is, the new fuel prices is said to be RM3.70! just like how in Singapore or Thailand. And they will give quota of about 20Liters a month or week…that details is not confirmed.

Just be well aware. And Gold prices will dip… so, liquidate the cash abit and for your info, Bank Negara is now going after FOREX market players, big or small. If you don’t want to get into trouble, PAY YOUR INCOME TAX. Otherwise, go and pay your ZAKAT PENDAPATAN…which is an offset to them.

It’s a heads up..of the state of the Malaysian Affairs, and in Scotland, VAT is back to 17.5%, Home Office just suspended issuing STUDENT VISA under the new 7 point scheme due to fraud, plus the visa class of investor, ancestry, UK graduants, artists, writers have been taken away due to much fraud….or just that they got too much unemployment, of over 18% in UK in itself.

For those who wants to try out WINDOWS 7, I have the installer disc, and it’s NOT PIRATED. just that it gives U 30 days to feel and try…. let me know if you want to try them…and original prices …are at a cheap rate as I got OEM licenses.

Anyway, please do visit my blog @ http://www.azrin.info and follow me on the Network Blogs app ( http://apps.facebook.com/blognetworks/blog/azrins_info_web/ ) as I wanna get more feedback from you.

Our resident Prosecutor Shamsul is now with private practice…. so ask him for legal affairs. And other than that, please post on the board if you have any items for sale or what not.

Have a nice week ahead.

Dr R Azrin

January 28, 2008

Credit Card Debt ….



What a relief it is to be rid of debt, plastic debt that is. Believe it or not, the actual Annual Percentage Rate of a daily rated credit card interest works out to 19.7% even when you pay your debt on time. That given the amount paid is more than the 5% minimum sum and if you take cash out from your credit card, it works to an almost whopping 43.9% APR! Sneaky but 43.9% even when you paid off your credit card cash advance as the way they settle your debt is as follows:
{Given You pay $1500 a month like me}

The LOWEST INTEREST FIRST
Means, the ZERO PERCENT Installment plan which you took to pay for that PC etc.

ie: The Monthly rate of say $190/mth is taken off first from your payment (your bonded with Maxis for 2 Years). The balance gets to pay these…

The Zero Percent Balance transfer which you paid 5% anyway upfront,
(Whatever the balance is available due, means say I transfer $5000 for 6mths, it’s $833)

What is left is $877 paid for these.
Then the Credit Card Annual Fees (included as 2.5% Exchange Fee)

Then it pays for your Lowest Rate Retail Purchases, if Any.
Then the Finance Charges due last month and this month ($450 this month!!)
Then it pays for your purchases ($427 )

Means, these will come back to haunt you:
The Cash Advance FEE 5% a month
The Overseas Transaction FEE 2.5% of the converted amount.

YIKES! You think paying $1500 of the $30000 owed will pay for your bills?
NAH! It pays only for $427 of your purchases.

STUPID?! You bet your paycheck on it!
TAKES YOU 73 months to pay off your debt!!
73 Months or 6 years plus to clear off a debt that you take thinking you save money by paying the minimum sum. FORGET what they say behind the RHB Card statement… it’s bull crap. Not 24mths to clear off, but actually 73 months even without taking a balance transfer or even a cash advance!!

How to save yourself from it??

1) CUT IT UP!!
2) CANCEL IT. There goes your credit line.
3) Sell all your gold NOW (Pajak Gadai gives RM70/gram)
4) Uplift all your Fixed Deposit (why save on 3.4% interest when you get charged 43%!!)
5) Save your paycheck!! Spend on basic essentials only
6) last resort…seek help from Bank Negara. It’s called AKPK. They will restructure your debt and cancel the debt. But no cards or loans for next 3 years.

If you malu..ask money from Ma and Pa before Chinese New Year!

What I did? Well, I canceled my problem with RHB. They were a pain in the ass. Now I owe only the base amount of RM3000 which is about my 2 weeks fuel money. I have to cut my travel expenses now.

What is left? I have to clear off what is owed to CIMB. Yes..it’s a roll over,but at least no more interest. They lowered my rate to about 7.5% as I reduced it to a term loan instead.

A fresh start. A relief. No more Ah-Longs calling.I’ll stick to my Debit ATM Card from AM Bank instead and earn more points.

Azrin's Info Web is © Copyrighted and Privileged. Credits and links must be provided if you intend to reuse the information provided. (C)1994 iExploreAsia Media SG