However, there’s a change of plan now! @.@

Even though the small emergency fund has reached its RM10,000 and the big emergency fund has been 56% towards the goal, hubby’s 50% salary cut and uncertain online income of mine have made me think twice.

Finally, a decision has been made, that’s throwing the extra money into the big emergency fund account until it reaches RM10,000.

Once it reaches RM10,000, I will keep rolling a certain amount each month into my small emergency fund savings account.

Once that certain amount of money is enough to pay off a small credit card debt, I will pull that cash out and pay off the debt.

In this volatile economy and situation, I think having more cash in savings account is safer than having lower debt. In other words, having a debt snowball savings account brings more security.

So, reaching the RM10,000 goal for the big emergency fund account and then turning the small emergency fund account into a debt snowball savings account!

It’s clear that hubby has a 50% pay cut after turning to teaching part time. From making RM2,000 to RM1,000 now! @.@

What to do, health is the most important for him who is 50 already! No health, no wealth, right? So, reducing constant dizziness and arthritic hip is on the top list now.

Hubby’s income of RM1,000 + my job of RM1,000 + my online income between RM1,200 and RM2,000 = between RM3,200 and RM4,000.

Our fixed expenses are RM680 AKPK monthly debt repayments + RM650 home loan installment + RM200 overdraft facility interest charge + RM270 flat rental + RM180 internet and cell phone charges + RM60 web hosting fees = RM2,040.

Our variable expenses are meals, groceries and petrol amounting to roughly RM1,000 a month.

So, the total monthly expenses are estimated to be around RM3,040! Phew, this means I can only save between RM160 and RM960!

Ha, I should be grateful if I can still save RM960 a month! ^.^ll

O, yes, I still have to pay RM400 Vemma product and its online business tool every month! However, this amount will go down whenever there is bonus earned through selling Vemma nutritional drinks or/and enrolling paid members.

So far, I have spent RM400 for the 1st month without any bonus and RM400 with RM15.20 bonus for the 2nd month!

My 3rd month’s bonus will be higher because there are a few paid members enrolled by my upline. Happy, get paid to drink Vemma!

For the time being, I am not ready to be an online upline/mentor/tutor yet. You know, time and effort, which I am currently lacking in, is really needed in order to coach or guide down line members. ==ll

I should just focus on sharing Vemma nutritional drink with others since hubby is currently drinking it to reduce his constant dizziness and arthritic hip.

I keep telling myself that I should be blessed to have a zero car loan, 2 emergency fund accounts, a full time job generating RM1,000 income every month, some online income and a hubby who is bringing home RM2,000 a month, BUT, I keep thinking about what has been bothering me for the past few weeks.

First, I Feel Like Quitting My Current Accounting Job. Way too much work to do! I feel that my stress is mounting with the load of increasing workload of unrelated work like photostating, answering phone calls, keeping records after records, …

I keep convincing myself that I am contributing some of my time and effort to the school, so it’s okay with the current RM1,000 monthly salary. BUT, spending 8 hours on week days and 4 hours on two Saturdays for just RM1,000 is just, sigh, … ==

Maybe if I quit my job and work 8 hours a day online, I can get that RM1,000 too. Maybe not! I don’t know.

I don’t know because my online income has fluctuated from making more than RM2,500 a month to between RM1,200 (low season) and RM2,000 (peak season).

I would just say goodbye to my current job if I made RM2,500 a month, but the fact is that I don’t. It’s between RM1,200 and RM2,000, so it’s risky and uncertain.

Second, Hubby Has Turned Part Time Due To His Health Problem. From making RM2,000 a month, he will get around RM1,000 a month.

With about 50%’s cut on his salary, it makes thinking of quitting my job even harder. T.T

I have been praying to God for improving my online income from Google AdSense earnings, Amazon advertising fees and the latest Vemma nutritional drink products.

I have also been praying to God to help make selling the house to our tenants or their friends easier/faster. Sell it so that there will be no more mortgage installments, quit rent fees and overdraft facility interest charges that consume RM850 every month!

Without any car loan and home mortgage installments, hubby and I just need to tackle our AKPK monthly repayments of RM680, flat rental RM270, internet and phone line fees RM110, cell phone charges RM65, RM50 utility bills and meal expenses.

See, I am not always the one who inspires/motivates you? I need to be motivated too and now! ==

Let me recall what my 2010 New Year Resolutions were: 1. Saving Money 2. Making Money and 3. Paying Down Credit Card and Personal Debts.

How did I fare on these 3 aspects last year? ^.^

1. Saving Money. As of 31.12.2010, our i) Joint Savings Account for big emergency reached half of the 3 months’ living expenses; ii) E-Fund Account was equivalent to half of the 3 months’ living expenses in Joint Savings Account; and iii) Investment Fund Account had less than RM1,500′s worth of mutual fund and stocks.

2. Making Money. Online income was 100% from blogs. Each month’s online income was more than enough to pay the home loan installment, bank overdraft interest charge and some daily expenses, but still not good enough to let hubby retire from his long-hour teaching job.

3. Paying Down Credit Card and Personal Debts. Debt repayments to AKPK were in time every month and hubby and I were able to pay off some personal debts owed to 3 family members amounting to RM2,100.

What are my resolutions for year 2011? Well, same as above! Keep on saving money, making money and paying down credit card and personal debts.

Okay, be more specific!

1. Saving Money. i) RM10,000 in Joint Savings Account. The existing amount plus year 2011′s rental will be equivalent to about RM8,000, so RM10,000 goal should be attainable; ii) RM10,000 in E-Fund Account. The existing amount plus my monthly school income plus some online income, yup, it is reachable too; iii) Investment Fund Account. To be frank, no idea yet.

2. Making Money. This year I will pay more attention to Amazon Associates Program. Just learned some new tips that can bring in more earnings from its affiliate products. It’s really fun making US dollar; USD$100 is equivalent to RM300, you know.

3. Paying Down Credit Card Debt and Personal Debts. Keep on paying down the debts, of course!

Enough goals for year 2011!

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).

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.

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!

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?

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.

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.