History of Dividend and Bonus for ASB

For your reference of ASB Dividends and Bonuses:
1993: Dividend=9.00, Bonus=4.50
1994: Dividend=9.00, Bonus=4.50
1995: Dividend=10.0, Bonus=3.00
1996: Dividend=10.25, Bonus=3.00
1997: Dividend=10.25, Bonus=1.25
1998: Dividend=8.00, Bonus=2.50
1999: Dividend=10.5, Bonus=1.50
2000: Dividend=9.75, Bonus=2.00
2001: Dividend=7.00, Bonus=3.00
2002: Dividend=7.00, Bonus=2.00
2003: Dividend=7.25, Bonus=2.00
2004: Dividend=7.25, Bonus=2.00
2005: Dividend=7.25, Bonus=1.75
2006: Dividend=7.30, Bonus=1.25
2007: Dividend=8.00, Bonus=1.00
2008: Dividend =7.00, Banus=1.75

EPF declares 4.5% dividen for 2008

Amazingly under the current situation, epf declares 4.5% dividen. It is far that what I expected and it is a good news to me. The article below is extracted from the star online.

PETALING JAYA: The Employees’ Provident Fund (EPF) Board declared a 4.5% dividend yesterday for its members, blaming the lower rate of returns on the global economic crisis.
EPF declared a 5.8% dividend in 2007.
However, despite the financial meltdown, EPF recorded its highest ever earnings of RM20bil in gross income last year, up 9.36% from the RM18.29bil recorded previously.
“While last year was challenging due to the unprecedented global financial crisis that has impacted economies worldwide, EPF’s investment portfolio for the year performed better at the gross income level compared to 2007.
“But due to the sharp decline in the equity markets, a large provision has to be made, resulting in marked reduction in net income,” said its chairman Tan Sri Samsudin Osman.
The dividends will be credited into members’ accounts on March 23

Dividen Tabung Haji 2008 7%

Tabung Haji declared 5% dividen for 2008 plus 2% special bonus for this year. This is a very good news as this is the highest dividen that tabung haji has ever declared.. I dont have much in tabung haji but it is certainly a good news.Hope it will stay like this for many more years to come. For full report please read this articlehttp://www.ibfim.com/index.php?option=com_content&task=view&id=1280&Itemid=179

February 2009 Update

My update for February 2009

Saving for old age : RM300,000
Current Saving: RM157,000
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TOTAL: RM457,000
Current Short Term Debt: - RM10,000

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Net Worth : RM447,000 (+2% from January 2009)
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Unique way to reduce the debts faster

This is another way on how you can reduce your debts faster. This is a little bit different than the consolidation of debts in my earlier post. This method is also known as snowball debt reduction.
THis is how it works. If every month you have an allocation of RM1,500 per month just to pay debts from different channel, you will need to maintain this allocation everr month until all your debts are paid.

For example:
Car loan - RM500 per month (still have 3 months to pay)
Personal Loan - RM800 per month (still have 6 months to pay)
Education Loan -RM200 per month (still have 2 years to pay).

This is how the payment looks like
Jan - car (500), Personal Loan (800), Education Loan (200)
Feb - car (500), Personal Loan (800), Education Loan (200)
Mar - car (500), Personal Loan (800), Education Loan (200) -- by this month you should have finisehd paying your car loan. Use the 500 to top up the personal loan payment
Apr - Personal Loan (500+800), Education Loan (200)
May - Personal Loan (500+800), Education Loan (200)
Jun - Personal Loan (500+800), Education Loan (200)
Jul - Personal Loan (100+800), Education Loan (400+200)
Aug - Education Loan (400+200)

As you can see the original duration is 2 years but with this snowball, you can finish paying all your debt in 8 months. It is a very effective way on how to manage your debt. Give it a try and you will be amazed on how effective it is.

Ways to reduce the debts

During those days when I was heavily in debts, most of my debts are from credit cards. I was having 3 credit cards with high credit limits. I was a very good paymaster but that was the problem, the credit card companies will entice you with higher credit limits. Sometimes, the credit card camponies did not even tell you that they have increased your credit limit.

I visited many finance blogs on how to manage my money and how to be debt-free. I have learnt a few things and now finally I am debt-free. And the feeling is overwhelming.

If you have accumulated many debts from different channels, the first thing that you should do is to take a look at the whole picture: how much debts you have in total (not including you house mortgage or car loan). This is the most essential piece of information as you will formulate on how to get out of debts based on this amount.

Once you have this figure, the next thing you want to know is how much is the interest you pay per month on each of this debt. You then calculate the average interest that you are paying on this.

At the same time, scout around on any personal loan that is offered in the market. Most personal loan - ranging from 7% - 12% a year which is much lower than 18% a year for credit card.

Take a personal loan and settle all your debts. This way not only make you more focus but make sure that your debts are all paid. Personal loan make you commit a fixed amout a month and making sure all your debts are paid within a few years. Whereas the credit card give you the flexibility to pay the minimum amount which you know you will never pay them off in any fix duration.


Hope this helps

My Financial History

I started to come to my senses when I gave birth to my first daughter. Due to the complication it costs me a bomb and I dont have sufficient saving at that point of time. Prior to my pregnancy, I was a heavy spender due to no commitment. With a decent earning and no commitment except for my car, I was enjoying my life like no tommorrow. Buy whatever I wanted or whatever I felt like having. Without realising that I have overspent my money plus credit card..

With the birth of my daughter suddenly I realised that..hey I cant live like this this.. I need to have savings and sufficient emergency fund just in case.. I cant live with credit and I need to have cash around..

This is where the restructuring of my debts started. I learnt about money management through the various finance blog and I decided to adapt a few approach.. and it works.. If I am keeping to this approaches, I will be a millionaires in 5 years time.. hopefully.. The approach will be revealed in the next post... Until then see you..