While digging out some old blog posts of mine, I came across this blog post titled: Set Up an Emergency Fund for Financial Security.

It was written in February 2008, a few months before I joined AKPK free debt management program. I blogged about why there was a need to set up an emergency fund and how I saved up for the fund.

I did start saving up for emergency fund at that time, but it didn’t last long. I dug out the money after having not enough money to pay the bills and daily expenses.

Fast forward to today, I am glad that I have some savings in my personal saving account that I can fall back on should there be an unexpected home repair like leaking toilets and clogged water pipes that cost me more than RM1,000 last month and a sharp drop of online income in June.

I have God to thank for putting me in AKPK’s debt management program in October 2008. Since joining the program, there has always been extra money left to be saved in my saving account.

Implementing the ‘Pay Yourself First’ method is also easier when hubby has a steady monthly income together with my online income. Each month on his payday, I will online transfer RM100 into my secret savings account from his account. Similarly, I will transfer RM50 or RM100 from my biweekly pay into the secret account.

I expect more savings on the second half of year 2010 provided (1) I am employed as an account clerk in hubby’s school. I am still waiting for a job interview. Hopefully the principal sees that I am cut out for the job; (2) My online income bounces back to between RM1,500 and RM2,000.

In brief, I would not have been able to save some money as emergency fund if I hadn’t been in AKPK debt management plan that helps restructures my multiple credit card and personal loan payments (more than RM1,500) to ONE small monthly repayment (RM320).

It’s been two weeks since I started looking for a part/full time job and I am still waiting for God’s new plan to unfold in front of me.

There are two full time jobs that are in need of me urgently, but I am waiting for a better job offer at hubby’s school. His school is in need of an account clerk who can do some accounting work as well as teach a few classes.

It’s funny, right? Why does an account clerk need to teach a few classes? Apparently it’s because there isn’t much accounting work for me to do at this time.

I am fine if it’s a class (4 lessons/week) or two classes (8 lessons/week). However, I will think twice if I have to teach more than 10 lessons a week while doing accounting cum general work. I tell you, the clerical work the existing clerk is doing is simply a never-ending routine.

The first time hubby asked the principal whether the school was still in need of an account clerk, the principal said yes. When hubby told him that I was interested to work in the school, he was glad and asked hubby to show him my paper qualifications.

A few days after submitting my paper qualifications, there was no news at all. Last Saturday, hubby asked the principal to confirm whether he was interested to arrange an interview for me.

Well, the principal said it’s for sure he wanted to hire me. But as he was in a hurry to go out with his wife, he told hubby that they would talk again.

I know the whole school is busy with a campaign this week, so I guess the principal may/might only interview me next week. Since there is some kind of assurance that I will be hired, what I can do now is waiting patiently.

You know, I am not as desperate as last week or two weeks ago when it comes to looking for a job. Why? Good news! My paid review earnings has bounced back a bit. From less than RM600 in June to more than RM700 for the 1st week of July! Phew, what a relief!

As for my Google AdSense earnings, it’s still between $1 and $3/day. Don’t give up, keep trying!

Will I still work full time if my online biz income goes back to its previous amount? Yes, I will. I will work full/part time unless my online income consists of multiple income streams. It’s just too risky to depend on Google AdSense, Amazon Associates Program and paid review earnings only.

Happy New Year 2010! It’s the 2nd of January today and I am so tired now after a few hours’ washing and cleaning the rented flat.

Though I am very exhausted, I am glad that the new phone line and Streamyx broadband access accounts are finally up and running smoothly.

Many thanks to God and hubby’s buddy who made applying and installing the accounts fast and without hassle.

How’s the Streamyx Combo 1.0Mbps speed? Well, I must say that it’s faster than my previous RM66/month package. Super fast? Well, not really.

Anyway, I will observe the performance of Streamyx Combo 1.0Mbps for a few more days. If it’s super fast, you’ll see no blog post ranting about Streamyx from me.

It’s the 4th of January today. I wasn’t able to finish the post I wrote on the 2nd of January due to endless cleaning and unpacking the stuff.

I am tired and having a headache now. But, I still feel like updating my AKPK debt management programme progress blog a bit.

How’s the Streamyx speed? Still great. Nothing to complain about so far.

How about hubby’s and my AKPK debt management program repayments? The repayments are still made on time, so there is nothing to worry about.

Auto and home loan installments? Fine too.

Hubby’s income? Should be fine. It’s a steady income from his full time teaching job in a high school.

As for my online income, I have been seeing a little decrease in Google AdSense earnings since the 23rd December. Hopefully it’s only because of Christmas and New Year holidays.

Updated on January 6th, 2010: Thank God, my Google AdSense earnings starts picking up again. Phew, what a fright!

Hubby’s full time teaching income has been increased from RM1,500 to almost RM2,000 after EFP and SOCSO deduction.

With hubby’s RM2,000 net income, together with my online income of RM2,500 (my income is between RM2,500 and RM3,000), I must say that I don’t have to worry much like I did last time when hubby didn’t have a fixed full time job.

After paying the AKPK debt repayments of mine and hubby’s RM680, auto instalment RM820, home loan instalment plus bank overdraft interest charge RM530, utility bills plus Internet connection and cell phone fees RM270, and food and grocery expenses RM800, there is still about RM1,400 left in hand to be save as emergency fund.

Of course, the amount of RM4,500 only started to appear on the 28th of October! Prior to that, hubby’s income was still RM1,500.

Though there should be RM1,400 left to be saved in the savings every month, we still haven’t got the chance to own the full amount of RM1,400 and save it in the account. Why?

Well, there had been a few unexpected expenses that sucked the extra money and personal savings away. Eye specialist fee, bifocals, vitamins, supplements, wedding gifts and funeral money gifts, …

Ask the Chinese Malaysians that you know, how many wedding dinners they have attended and how much they have spent on gifts and money gifts for wedding from the month of September till now?

And how many more wedding receptions and dinners they are going to attend and the estimation of wedding money gifts they are going to fork out this December?

Ask too if they have ever received two or three wedding invitations which are/were held on the same day?

These few months are peak season for wedding! Wedding is the bride and bridegroom’s business, why do they have to make the whole world busy and waste money?

I will never forget a wedding dinner that I attended Kuala Lumpur more than 10 years ago. It started at 9 p.m, two hours late!

I waited for two hours! I should say I wasted two hours waiting for the dinner to start. You know, it’s only a not-so-close colleague’s wedding.

Yes, from what I have written, I am sure you can figure that I hate attending wedding dinners. And also birthday parties.

I am now at the stage of life where I want to spend my time doing the stuff I like. I no longer want to use my time to do other people’s stuff or stuff that make others happy because I give them face but in the actual fact I hate it.

Of course, there are exceptions. I will still attend family members’ wedding dinners and birthday parties. I mean those who are really really close and those whom I like.

So, when do hubby and I really get the chance to own the amount of RM1,400 and save it as emergency fund in the saving account?

Am I considered lucky to be able to escape from the new RM50 service tax a year on every principal credit card and charge card since I am now in AKPK debt management programme? So is hubby

Imagine how much annual service tax hubby and I had to pay if we still had the 15 credit cards!! 15 principal credit cards from 6 banks. Phew, it’s RM750!

According to financial analysts, it is predicted that at least 30% of the holders of 11 million cards in circulation who have more than one card will have to pay RM100 every year.

You know, the applications for new credit cards dropped by 80% following the Government’s announcement of the service tax starting 2010.

Don’t you think this new imposition is good to those who are thinking of applying credit cards? It scares them off and thus they carry no credit cards. No credit cards mean no credit card debts, right?

When there are no credit card debts, people will have no reason to turn to non-performing loans, short-term loans, personal loans, debt consolidation loans, AKPK debt management programs, or bankruptcy easily.

It’s also good to those of you who have stacks of credit cards; you are forced to reduce the number of cards you own. Having fewer credit cards means you have to cut down on spending, retail purchases and impulse buying.

Also, you get to learn to use cash and debit cards. As a credit-card-debt woman who is in AKPK’s debt management plan, I must say that I love using cash and debit card now.

I have had two debit cards, Public Bank Visa debit card and Tune Money Visa debit card. Both cards are not used for retail purchases. Noop. They are only used for collecting PayPal money from my online income.

Since PayPal has now allowed Malaysians to link their PayPal accounts to their Malaysian banks or overseas banks operating in Malaysia, I think I can totally stop using and renewing my Tune Money Visa debit card.

As for the Public Bank Visa debit card, I will keep on using as a backup for PayPal fund withdrawals.

I am thinking of online transferring money from my personal saving account to pay one more auto loan installment so that my car loan account can stay current again.

Since hubby started his full time teaching job in July his year, we have been able to pay a bit more towards the auto loan account which was always 2 months or 3 months behind in installment payments.

Making ONE more installment payment for the car this week means that our auto loan account will become current again. Finally and hopefully there will be no more repossession notices in future.

The remaining outstanding amount of the car is RM 18,030.00. RM18,030.00 means 22 installments left.

According to hubby, the market value for our car now is RM22,000. If we ever want to sell our car in future, we will surely have a few thousand profits.

Speaking of the next auto loan installment payment, it will be on the 18th this month. I think it will be paid on or a few days late after the due date depending on when my online income arrives.

Once the car loan account is back to current, I am going to make the AKPK debt management program repayments of mine and hubby’s on the first or second week of every month. Currently, they are paid on the 28th every month when hubby gets his salary.

After hubby got his first salary pay on the 28th of July, I opened a personal savings account secretly in the mid of August. Until today, he has no knowledge about it.

The reason for opening the personal savings account is for saving money as emergency fund.

I need an account which I can transfer a small portion of hubby’s salary and my online income from Chitika, Google AdSense and advertising networks into it secretly, and deposit my online income checks from ClickBank and Amazon.com.

So far, there is RM320 in the account. I am still waiting for the ClickBank check to clear. By then, I should have more than RM700 in the account.

As for my Amazon.com check, it arrived a few days ago. It’s $218.47, roughly RM760. If added to the RM700, it’s going to be more than RM1400.

This month, there is going to be extra RM400 RM200 in hubby’s salary; he will take has taken over the task of being the new discipline master in his school starting this 15th September.

I will see if I can transfer a bit more money into my personal savings account from his salary this month.

You know, had it not been AKPK debt management program (DMP), hubby and I wouldn’t have had extra money to use or save as emergency fund.

I love the piece of mind I have now by saving for emergency fund; no need to worry where I would find money in case there is car repair, or whatever else it is.

Oh, not to forget that I still have small changes in my ceramic piggy bank. I am not sure how much money I have saved in it so far because I only intend to find it out the end of the year.

It’s the 28th today and it’s hubby’s payday again. It feels great that hubby has a stable full time teaching job that generates a steady income.

Being paid on time on the 28th every month means that I don’t have to worry whether my Google AdSense earnings will arrive in time or the tuition fees will be paid on the last week of every month.

It’s fine now that the Google AdSense earnings and tuition fees are late. Hubby’s fixed payday that arrives on the 28th is more than enough to pay my AKPK debt management program repayment and hubby’s AKPK DMP repayment.

These two debt repayments are payments that must not be late; they must be paid by the 30th every month.

If given a few more months’ time, I am sure I can adjust making payments to AKPK DMP to the first week or second week of the month rather than on the last week of every month.

As for the utility bills and home and car loan installments, my Google AdSense earnings and tuition fees are enough to settle them.

Starting September, hubby will be the discipline master of his school. This means we will see extra RM400 in his September’s salary. All together, his salary is RM2,000 plus.

My online income and tuition business can still generate between RM2,500 and RM2,800 every month. But I am not satisfied. My goal is to push my online income to more than $1,000 or RM3,500 a month.

Hubby got his first pay check today! Happy and relieved.

I am relieved because the money came in time to pay some overdue utility bills that must be paid within these few days.

Hubby’s net income is RM1,500 for the time being. His RM1,500, plus my online income and tuition fee of RM2,500 is equal to RM4,000.

Tomorrow hubby will bank in my AKPK debt management program repayment and his AKPK DMP repayment.

Finally the car can be sent for service tomorrow after putting off the service for more than 3 months!

The following day, I will bank in car and home loan installments. The car and home loan installments are actually 2 months behind. It’s my hope that we are able to bring them current as soon as possible.

Hubby is closing down his foot biz after barely six months in business; the foot reflexology center was opened in January 2009.

There are various reasons that have brought to the closing down of the center.

First off, hubby hasn’t done much when it comes to marketing and promoting his foot biz. This has got to do with his own personality; he loves staying low profile.

As you know, being successful in biz means that you need to be able to mingle with different types of people and entertain boring people and conversations. He just simply isn’t the type of man who wants to waste his time on nonsensical or gossipy topics.

It’s true that hubby has some regular customers that can bring him a few hundred dollars every month. But with his already painful right arm, he will have to stop doing foot reflexology sooner or later. Instead of waiting for his right arm to stop functioning, it’s better for him to stop now.

Hubby has a better career option if compared to being a foot reflexologist. He used to be a high school teacher for more than 10 4 years in his early thirties.

Recently, he was persuaded to teach again in the same high school. Hubby has not made up his mind because he is considering a few more high schools.

Honestly, I prefer hubby to teach at a high school that is nearest to the house. This way, we save money on petrol and car maintenance. Most important of all, hubby doesn’t have to waste time on driving to and fro.

The last reason is the most important reason why hubby must stop his foot biz and join the teaching force again – stable income. Being a full time teacher means there is a steady monthly income from hubby, approximately RM2,000.

My online income of RM2,500 is unstable in this volatile economy. There are days that I earn more because of better Google AdSense earnings or online assignments and there are days when there are fewer reviews to write or late payments from the advertising companies.

Due to my unstable income, there is a need for hubby to have a full time job to generate a stable income to ensure that my AKPK debt repayment, hubby’s AKPK debt management program repayment, our car and home loan installments are paid on time.

Our free debt management programs (DMPs) require that we pay our debt repayments in time or on time, otherwise, the debt management plan agreements will become null and void.

I am praying to God that hubby accepts the right full time teaching job soon. The sooner he starts work, the faster he can pay off some personal debts he borrowed from his buddies and the safer I feel with extra cash in hand or money saved for emergency funds.