SET UP A FAMILY EDUCATION PLAN

Moscow, the Russian capital, is the most expensive city in the world for cost of living followed by London, UK and Seoul, South Korea in the second and third position. The findings are based on the annual Cost of Living Survey conducted by Mercer Human Resource Consulting. Moscow tops the list for the second consecutive year while London has moved up from its third place last year.

The survey covering 143 cities across six continents compared the cost of over 200 household items in each city including housing, transport, food, clothing, household goods and entertainment. MNCs and governments use this cost of living survey to determine compensation allowances for their expatriate employees.

Here are the top 15 most expensive cities in the world for cost of living, according to the survey.

1. Moscow, Russia
2. London, United Kingdom
3. Seoul, South Korea
4. Tokyo, Japan
5. Hong Kong, Hong Kong
6. Copenhagen, Denmark
7. Geneva, Switzerland
8. Osaka, Japan
9. Zurich, Switzerland
10. Oslo, Norway
11. Milan, Italy
12. St. Petersburg, Russia
13. Paris, France
14. Singapore, Singapore
15. New York City, U.S.

Of the six continents, Europe dominated the list with six of its cities in the top ten and about 30 in the top 50 rankings. Asian cities also figured mostly in the top 10 most expensive cities, lead by Seoul, South Korea. Five Africa cities were placed in the top 50, lead by Douala, Cameroon in 24th place. The least expensive city was Asuncion, the capital of Paraguay, for the fifth consecutive year, among the 50 cities ranked by Mercer. But none of the cities of Latin America or Canada made it to the top 50. U.S.A had only two cities - New York City and Los Angeles (42nd rank) featured in the top 50, owing to a weak U.S. dollar.

If you are interested in buying a home, condominium, or any other type of real estate in any of these cities, be sure to contact a local Realtor who can advise you about local market factors.


Top 50 Highest Cost of Living Cities In The World

Moscow, Russia -1
London, United Kingdom -2
Seoul, South Korea -3
Tokyo, Japan -4
Hong Kong - 5
Copenhagen, Denmark -6
Geneva, Switzerland -7
Osaka, Japan

Zurich, Switzerland -8
Oslo, Norway -9
Milan, Italy - 10
St. Petersburg, Russia
Paris, France -11
Singapore - 12
New York City, United States -13
Dublin, Ireland -14
Tel Aviv, Israel -15
Rome, Italy
Vienna, Austria -16
Beijing, China -17
Sydney, Australia -18
Helsinki, Finland -19
Stockholm, Sweden -20
Douala, Camerron - 21
Amsterdam, Netherlands -22
Madrid, Spain / Shanghai, China
Kiev, Ukraine -23
Athens, Greece -24
Almaty, Kazakhstan -25
Barcelona, Spain / Bratislava, Slovak Replublic -26
Dakar, Senegal -27
Dubai, UAE -28
Abidjan, Cote d’Ivoire -29
Glasgow, United Kingdom -30
Lagos, Nigeria -31
Istanbul, Turkey -32
Munich, Germany -33
Frankfurt, Germany
Birmingham, United Kingdom
Los Angeles, CA, United States
Luxembourg - 34
Brussels, Belgium -35
Abu Dhabi, UAE / Berlin, Germany / Dusseldorf, Germany -36
Taipei, Taiwan -37
Prague, Czech Republic -38
Algeriers, Algeria -39

i    have    a conclusion    

Conclusion


For   self employed chart
Malaysia 4 - 6   persons expenses =  ONE    person expenses Singapore

 Children,  NEW  car , mortgage payments ‧ WHAT PREPARATION?

生孩子、換車、還房貸‧要作哪些準備？

 Q: I have surnamed Liu, a 30-year-old, married, have a 3-year-old child, and I want to improve my family's financial situation, I am a self-employed person, the income is not stable, but the average monthly income of about RM3, 000.Better able to cope with just my husband's income, after deduction of the cost of his own outstanding total household expenses is RM3, 600, we are no CPF savings, the bank has no savings, paycheck to paycheck, because regarded income spent on house decoration. The renovated house has extra room rental, the rental income is RM2, 000.1 would like to add one more child in the next year.2. Want to transfer in the next year (because of the existing car more than 10 years, the age of the vehicle, often) 3. Want to pay off the housing loans in July 2015.I would like to ask, if you take more than 3 goals to reach, require additional monthly amount of revenue that? Want housing loans to pay off (with a rental income of RM2, 000 and my income RM3, 000), I ask, in addition to the money to pay off the housing loan, there is no better investment could make me faster to pay off the housing loans ? Or the money savings to buy a car?A: Miss Liu is a young mother of a 3-year-old child, she and her husband are self-employed persons, therefore, there is no payment of provident fund, there is no savings, their cash flows are as follows:Miss Liu want to replace the car of her more than 10 years, the Ministry of the age of the vehicle, as well as its intention to three years to pay off the mortgage, is a 15-year mortgage period, rather than the original 30-year, In addition, Miss Liu ready renewable raising a child.She mentioned in the letter, would like to know to face the burden of the future, you should do what some preparation.Analysis of the financial condition of Miss Liu, the more worrying is saving this one, which is where she needs to be taken seriously, we have always stressed, it is very important to have a contingency reserve, not to mention the little Miss Liu income stable.Some self-employed people, their income depends on the economic situation in the economic downturn, the business may be affected, and it may take several months to recovery.Therefore, the purported contingency funds set aside a sum of money, not just for the overhead, but to generalize any foreseeable operating expenses will impact business performance, and the last one, we do not want to face is unable to pay their mortgages, resulting in loss of their housing problems .Contingency reserve deposit 6 monthsHere we recommend Miss Liu, period from contingency funds set aside a sum of money, she should be explored at least a savings equal to the monthly cost six times the contingency reserve to her 20,001 1,600 ringgit, we suggested that she set aside a sum of money, as the operations of the operating reserve.Although her business operating expenses not much information available, however, savings equivalent to 6-12 month emergency fund monthly business operations overhead, I believe that in tough times, to help her through.The next step is to explore areas of retirement planning, Miss Liu view of the husband and wife who are self-employed person, they do not have basic savings safety nets such as provident fund, as the retirement life rely, therefore, some form of monthly savings necessary measures.2,000 pension funds shall be deposited monthlyAt least 20% of the total monthly income as the provision of funds, can not use the money for any other purpose, the positive message is: Ms. Liu and her husband have five thousand ringgit net cash flow, therefore, they should allocate 2 RM1, 000 as the two pension funds.The next question is: RM 3,000, and how to achieve their financial goals, the Miss Liu revealed that she was ready to parenting a child hope for an early repayment of the mortgage, and you want to buy a new car.Let's talk about mortgage repayments, based on limited information and other assumptions, it is ready to shorten the period of the loan, to be repaid within three years, it is estimated that she must increase the amount of the repayment of its loan installments, from 750 ringgit to 4 RM1, 000.Pay off the mortgage in advanceNon-priority goalsObviously, this will consume the rest of her savings, no money left to parenting more than one child, as well as used cars to sell, and then for a new car fund.May have paid off the mortgage installments is not a matter of top priority, to run their businesses, their transport, transfer case no choice. Assumption by a car loan of RM50, 000, an annual interest rate of 2.50%, the monthly car installments of RM900, left RM2, 000 as the cost of raising children, or two children's educational expenses.Current main A: OCBC Bank in charge of financial management, Wang Shi Jie (Sin Chew Daily / Investment rich ‧ wealth ask clinic)

問：我姓劉，今年30歲，已婚，有個3歲的孩子，我想改善我家的財務狀況，我是個自僱人士，收入並不穩定，但是平均每月收入大約RM3,000。

我先生的收入扣除他自己在外的開銷之後剛剛好能應付家庭總開銷，也就是RM3,600，我們都沒有公積金儲蓄，銀行也沒有儲蓄，是月光族，因為都把收入花在屋子的裝修，目前裝修完畢，房子有額外的房間出租，租金收入是RM2,000。

1.想在明年添多一個孩子。

2.想在明年換車（因為現有的車已有10年車齡了，經常有問題）3.想在2015年7月把房屋貸款還清。

請問，如果要把以上3項目標達成，每月需要額外多少收入？想把房屋貸款還清（用租金收入RM2,000和我的收入RM3,000）請問，除了把錢還清房屋貸款以外，有沒有更好的投資，能讓我更快的把房屋貸款還清？還是該把錢儲蓄來買車？

答：劉小姐是一名年輕的母親，有一名3歲的孩子，她與丈夫都是自僱人士，因此，沒有繳納公積金，目前沒有儲蓄，他們的現金流量如下：

劉小姐想要撤換她那部已有10年車齡的汽車，以及打算3年內還清房屋貸款，就是15年房貸期、而不是原本的30年期，此外，劉小姐準備再生養一名小孩。

她在信中提及想知道要面對未來的負擔，應該做好哪一些準備。

在分析劉小姐的財務狀況後，比較令人擔心的是儲蓄這一項，這是她需要認真看待的地方，我們經常強調，擁有應急儲備金是非常重要的，更何況劉小姐的收入不大穩定。

一些自僱的人士，他們的收入依賴經濟的形勢，在經濟不景氣時，生意可能受影響，而且可能需要幾個月時間才能復甦。

因此，撥出一筆錢充作應急資金，不只是供開銷，而是概括任何可預見將衝擊業務表現的營運支出，最後一件大家不想面對的是無法償還抵押貸款，以致失去自己房屋的問題。

存6個月應急儲備金

我們在這裡建議劉小姐，撥出一筆錢充作應急資金，她應該探討至少儲蓄相等於每月開銷6倍的應急儲備金，以她的情況是2萬1千600令吉，另外，我們建議她撥出一筆錢，作為經營業務的營運儲備金。

雖然我們對她的業務營運開銷所掌握的資訊不多，不過，儲蓄相等於每月業務營運開銷6至12個月的應急資金，相信在艱難時期，有助於讓她渡過難關。

接下來要探討的領域是劉小姐的退休規劃，鑒於丈夫與妻子都是自僱人士，他們沒有基本的儲蓄保障網例如公積金，作為退休時的生活依靠，因此，某種形式的每月儲蓄是必要的措施。

每月應存2千退休基金

他們至少需將每月總收入的20%作為撥備資金，不能動用這筆錢做其他用途，利好的訊息是：劉小姐與丈夫擁有5千令吉的凈現金流量，因此，他們應該撥出2千令吉作為兩人的退休基金。

下一個問題是：剩下的3千令吉，如何用來達到其財務目標，劉小姐透露她準備多養育一名孩子，希望儘早償還抵押貸款，以及想要購買新車。

我們先來談償還抵押貸款，根據有限的資訊及其他一些假設，如果準備縮短貸款期，在3年內還清，估計她必須提高其貸款分期的償還數額，從目前的750令吉提高至4千令吉。

提前還清房貸
非優先目標

明顯的，這將消耗掉她其餘的儲蓄，沒有剩錢養育多一名小孩，以及將舊車賣掉，然後換一部新車的資金。

也許償清房貸分期不是最優先考慮的事項，對經營生意的他們來說，交通工具比較重要，在沒有選擇的情況下換車。假設借5萬令吉的汽車貸款，每年利率2.50%，每月汽車分期付款是900令吉，還剩下2千令吉可以作為養育孩子的費用，或兩個小孩的教育費。

本期主答：華僑銀行財務管理主管王詩潔（星洲日報／投資致富‧財富問診室）

 

 

 

 

 

 AGREED with some feedback ..
(1) Cheapest planes - People pay for their lives!
(2) Cheapest brain surgery - People end up becoming crazzy!
(3) Cheapest Houses - No water or electricity!
(4) Cheapest I-Phones - Die within 1 month, damage ears!
(5) Cheapest food - food poisoning!
Cheap is very Expensive in the end!

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  Tommy Chin nothing is cheap..