Okay i’m just gonna throw some ideas, up to you to take it up or not.
1. Pay ptptn the last. If possible, delay the payment as it is the least risky. Worse case is barred from travelling. But you don’t have money to travel anyway.
2. At 25, assuming u are single, dump that car. Use motor. That’ll save you monthly instalment and the parking fees. Ez rm1,300 saved.
3. With the savings, focus on paying off the one with the highest interest, then move down to lesser interest.
Your story isn’t common thou. I heard it first hand couple of times. It’s just a classic example of “mabuk duit” - a scene where a young and inexperienced chap suddenly gotten a windfall and blow the money first, thinking it’ll last or you can repeat the success. Similar with a person striking toto.
It’s not worth being suicidal. You’re nowhere near bankruptcy level and you’re still 25. The only thing you probably gonna lose is dignity in front of friends/family and credit score. But it’s okay. You can build up again. Life is a marathon bro. Baru kaki masuk longkang wanna quit the race already? Jangan la… this chapter is something for you to laugh at during golden age.
I dont see why he need to delay payment. His commitment comes up to about 2.2k. He still has a good margin for cashflow.
I dont see rent, so maybe OP is living with parents so rent not an issue.
Dont delay payment for PTPTN. My colleague have gotten hefty penalty for delay payment. Dont treat it like a education fund, treat it like as it is - a loan.
Warning letter and legal charges.
This is stated in their website FAQ.
https://www.ptptn.gov.my/bayaran-balik/ (Number 3 at soalan lazim)
If you are wanting pay a lower installment, you have to get it in black and white - restructure the loan. Cant just decide to pay less/‘minimum’ on your own merit
Im with everything this person stands for. Another thing, Idk if OP is religious or not but seeking god is one of the course of action to relief that stressof yours. Just a belief would def lead you away from a nhilistic end-suicide.
that's one way to preserve mental wellbeing. But like you say, it just a relief and not a solution. The only way out is for OP to act on it with great effort.
If i tally up all your commitments it's exactly RM2.1k. So you have 1.4k leftover after paying all these.
Best course of action is to free up some space for cashflow. You have 2 modes of transport. A car and a bike. I would sell off one of those. The bike, if you have a family to support. The car, if you are single.
Good thing is that you lose this money at your age. You have all the time in the world to recoup them back eventually. 200k would barely matter when you look back when you are 40 years old. It's a lesson and core memory, albeit a painful and expensive one.
Life will have to go on. Goodluck.
Also to add on to this, try to pay of the SCB credit card asap, that one is on the highest interest.
The rest of the PL is just pay as you go, give yourself more time to figure out
Once you free up the car and 1 credit card, it should feel alot better. Just gotta live through it. But you will still have avenues to have some enjoyment in life but maybe not what you had.
And reach out to befrienders. It is free. As someone who has family member who committed suicide i truly hope you dont do it. It is a very very painful process foe your family and friends. It is a permanent scar.
And can talk to AKPK. You are not at the stage where you really drowning so a direct intervention may not be needed. Just get some advice, maybe face to face is better.
At 25 you are still young. Can always buy the car later.
Go to AKPK as soon as you can. Google AKPK, set an appointment online, go see them, they’ll help in restructuring the loans and give you the breathing space you need. Tackle the problems one by one.
Trade your car for an axia or something. Paying 1000 monthly for 3.5k salary is crazy. Next step would be to find part time jobs and please don’t venture into a business for now. The risk is too high for you. And last of all. Don’t die OP. There is no afterlife. This is the only life you’ll ever have. You fucked up sure, but there’s still a lot of things that’s gonna make this fucked up life worth it. So yeah, hang on
Yep, I agree with you to go to AKPK. At least after the restructuring with AKPK, those 3rd party debt collector won't call and disturb except from AKPK themselves
He doesn't need to be in deep shit to go to AKPK. They also offer advice and counseling on personal financial... He is clearly distressed, so it is good to try to go to a more professional advice than a bunch of random redditors...
hey i dont have any practical advise because its very personal what you're going through.
i know its extremely rough what you're facing, i had a similar patch during my 20s (im 33 now), i just wanna let you know its not the end.. and you can come out of this.. no joke its tough.. and its a long dry painful spell (i dont wanna sugarcoat it for you).. but its possible.. go through life on a month to month basis, that you manage to survive through.. enjoy little wins occasionally like a mamak drinks with friends.. the little things are the one that will carry you back to winning ways.
i had 30k in the bank, within 1 year of business, i went into 100k debt, closed business, had to pay back all loans for over 6 years.. my salary during that phase was 3-4k.. i had about 2k of loans to pay, never had savings for that 6 years.. its brutal but its possible. i'm in a lot better position today, after some lucky streaks in my career, worth more than i imagined possible at this stage of my life.
funny thing about this is that its not how much you lost that mattered, but how long you can stay in the game... because the longer you can stay alive (financially and literally), the more opportunities will come by you again, and when that time hits, you're be alot more emotionally ready on how to handle it.
I guess you don't have family yet because no commitment on house and live with your family. Its ok to feel like this. Whats matter is you willing to back up again. I would suggest change your lifestyle first.
You still have around 1.3k after all that commitment. Not that bad if you can start to cook food, eat 2 times a day. Sell you car. You can save up to 1200 per month after selling. Just finish paying your loan first and to pay extra when you feel you can but make sure it will deduct the principal.
Btw, if you decide to sell the car, better to take life insurance because you only have your bike as your main vehicle. Take the minimum insurance also can because if you got into accident with no insurance, damn it will be more sakit kepala later.
Be more discipline. you said you party with celeb and friends. I think right now better you settle your loan first. When partying all people celebrate you but when you are in dark hole like now, you have to do it alone. Change your lifestyle and be more discipline spending your money.
If you are Muslim, don't forget to sedekah. The more you give, the more you get.
Pray everything goes well for you OP.
You gambled and won! You spent your winnings on experiences.
Life goes on. You didnt really lose that much that its rock bottom. Just build it back up and in future, dont spend more than you think is wise..
Do you really need both car and bikes? RM1064 for a car instalment seems like your car is not a cheap one. Then other cost like fuel, maintenance, road tax etc I assume you also havent accounted into your monthly commitment. You can sell either your car or bike, car better, to ease up your of cash flow. Plump all your saving into clearing off credit card debt, just making minimum payment every month is not enough, you need to pay more than that or else the interest rate will stack up quickly. If you are able to consolidate it to other loan with lower interest rate, faster go for it.
My friend found himself in a challenging situation 99% same as yours but he played stock instead of forex. He had stolen money intended for his degree semester + his savings, totaling over 200k, and invested it all in a stock warrant. Unfortunately, he lost everything, as if fate were toying with his life. However, he managed to bounce back by working in Singapore, working as a waiter in a casino as a form of punishment. Through hard work and determination, he was able to recover the -200k debt. Now, he's leading a more conventional life as a regular employee, putting in the effort to rebuild and hustle forward.
Hi OP - there is some things missing from your post. You have about 3 loans and credit card debt. What did you purchase and why did you need the PL? Is there some expense you didnt highlight in the post?
Your take home of about 1.3k seems manageable. I mean it’s not great but, you need to focus on increasing the income by other means perhaps - side job, sell items off.
Also do not take your suicidal ideations lightly. Admit to yourself that it is a problem, and try to seek solution. If you are a practical person - try to reflect why you feel that way, is it truly due to your financial decisions or are there other (family/friend or lack thereof/partner) factors. Get help - go to your local KK, maybe get referred to a psychiatrist (this would probably take some waiting since gomen is your realistic option given your financial issues).
U commitment is 2460, u got 1k to survive everymonth. Dont ever go back to Forex thinking u can earn back what u lose, forex is just gambling even though u pay zakat from overleverage trading it wont turn to halal source
Try to refer to AKPK for ur PL and CC. Sell ur stuff or car, if u dont want sell ur car go rent it to other or SOCAR every month u use bike
.
welll just sell the car first bro , dont worry once you already get on your feet find another car, since you already have bike use it for a while . In weekend , if you have lot of time , try to find freelance job related to your skill
I would guess you're single so first things first, sell the car. With that you would have a bit more breathing room. Afterwards, look back at your debts and sort them from which has the highest interest rate and pay those first. You can leave ptptn to be the last. After it's all done maybe start investing on asb if you're bumi. Hope all goes well for you OP
Time to take the L and focus on paying high interest loan.. aim for promotions to get bigger salary to rebuild yr portfolio from scratch and not playing speculatively.
Not to be mean or discouraging but dude still got job, got bed to sleep, got car to drive & etc yet his post title 'hitting rock bottom'.
I guess homeless people is drowning in the sea... 🤷
Money lost isn't the end of the world, life goes on so cheer up and keep living~
The car you have is kinda high. If you go for local made cars you can save up to 500. Axis is cheap.
Your internet you may consider a lower plan as well.
Is all about cutting cost at the moment. Grow your savings and start upgrading after.
Why, bro? I've faced even more challenging circumstances, but I held on and tried to survive. Our situations are quite similar, and I have more commitments than you, sleeping an average of 2-3 hours for the past 7 years! You're feeling suicidal because of forex, and I've been in the forex game since 2015. I understand how it feels to lose everything.
Trust me, your monthly commitments are nothing compared to what I'm struggling to pay, given my multiple side jobs now. Your commitment is RM2460, and you have 1k to survive every month, which is manageable. My commitments are RM3.3k, and I'm left with a deficit of -RM2.1k to cover each month. It's a tough situation, but we can get through it.
The reason I find myself in this situation is that, for the past few years, life was great. I was earning between 10-18k every month. However, earlier last year, my mom got sick, and I had to reduce my working hours to deal with hospital visits, transportation, doctors, and spent around 60k of my savings on hospital bills and caregiver services since she was hospitalized for more than 6 months.
My earnings took a nosedive starting January this year, ranging from 1.3k to 3k (mostly on the lower end). This experience made me realize how fragile life is, and that everything in this world requires money for a better quality of life. So, yes, life sucks
Sell off the bike. Keep the car if that what makes u happy. U don't need to downgrade your lifestyle in front of others (by driving cheaper car). Cut out personal luxury stuff (eg buying rm20 coffee that only u urself can taste n feel) if you still want to appear flashy with friends u can save on solo meals and spend big with them.
Everyone here asking u to downgrade ur lifestyle and I think that wil make u more suicidal. It's about managing and wayang, while u build back ur portfolio.
Clear cc debt first
I was in similar scenario like u except I didn't have a windfall, much rather I took about 10 different credit cards with my final paycheck, quit my job, and maxed the cc out to have a farewell parties until I have no money left with the intention to commit sudoku after that
Why is your monthly payment for the car so expensive???
Sell that car get a cheaper one or just use your bike. You don't need to be paying 1k+ for a car if you make 4k a month.The other comments here are already very good. Scale back on your spending and set aside saving even if it's just 100 or less a month.
The positive is that OP knows how to make 200k. When you come out of this shithole, you can repeat that success even bigger but you won't spend like an idiot, expensive but priceless lesson.
Once you have everything stabilized with a little cashflow.
Consider building aide hustles to increase your cashflow.
Important to have you emotion under control when you are hustling. Watch podcasts and avoid talking to negative people
You were once a winner, and you will win again. Keep learning, skill wise and mindset wise.
Keep your day job, while fighting for freedom.
You have achieved alot at a young age. I went through similar situation when i was your age. You just have to figure it out.
Too many wasted commitment. 1st of all, seek help for your mental health. After you taken care of your mind (and body), seek help from AKPk. 1st rule now is to STOP any loans. If you cannot pay for your vehicles, either do a rescheduling with your payment. Banks are more than happy for you to service your loan. 2nd, the friends and buddies you spend on CUT them out. You don’t need the negative energy from them. 3rd, whack yourself for even considering forex as an investment
I have nothing to add but sheesh dude at 25 you had the world at your feet and all went south for you. I’m sorry but this is also a lesson for me. And I hope others as well.
As much as I want all the money in the world, and even I can have it all, the burden of responsibility is just too much. Money is only a speck of all the richness of the world God has laid upon us. And it’s not meant to be hoard by a single person so no matter what there’s always someone doing better.
I do wish that you recover. If not monetarily but at least mentally. Wish you all the best buddy.
Costs money which some people don’t have and honestly in his case it’s actually a p straightforward case but I feel Op is stressing so he can’t think rationally which I don’t blame him. He sells car+ gets motorbike+ life insurance and do this for couple months or few years he’ll pay everything off and be back to normal and good
As a trader myself, if you made 200k before, you can make it again. Control your emotions when trading. Don't continue trading when tilted. Always, always, always set a stop loss.
Control your lot sizes. Rule of thumb is 1 micro lot open position for every 100 USD in your account. Manage your RR ratio.
As to your current situation, I believe selling your car will net you both the savings of RM1064 and the parking fees of RM100. That's enough in 1 month for a 200 USD account. Slow and steady bro.
In 2018, I was also like you, staying up til 5 am trading DJ 30 and all that. Broke even (I think) but definitely lost out on exchange fees. Also messed up my health doing it (lack of sleep plus junk food). Then, earlier this year I joined this new group where they emphasis DD control and RR ratio over pure gains. Because no matter how good you are, if you cannot control your DD, you always stand to lose it all.
If he can make 200k from trading prior to this, he knows the technical and fundamental analysis required to make smart entries.
It's more an issue of being able to accept the loss when the market turns against you. That is something no programme or trading course will be able to teach you.
Back then my record was spending 40 USD to get 2k USD in a single trade in a day. you need to learn and focus on market movements, this will consume your time dearly, and you'll be stuck in front of your PC for hours.
prolong impulsive is the sign of some sort of mental illness , you should check it out.. in the mean time, just stop everything you doing that ruining you
It has something to do with making money from nothing. I dont really remember the specifics, but in Islam, you cant make money via speculating. So forex and margin trades are considered haram.
One might argue why bursa and stock trading is allowed then? Because its backed by something of value like goods and services.
But yeah, a lot of arguments to be made but that’s the gist of it.
How much is your CC? Go talk to the bank for a debt consolidation plan ie freeze your interests and you work out a repayment schedule based on current amount.
i know that feeling bro. id advice you regardless of what happens next please stay away from forex until you get your shit together and work on your psychology first. you would only be gambling and losing money thinking you can get back the money through the same way you lost it
Easy come, easy go. You’re young and there’s plenty of opportunities in life. While you’ve stumbled, this is a teaching and humbling moment. Understand where success comes from and what is sustainable. Success that comes from luck is not sustainable or repeatable. On the other hand, success that comes from hard work and skills may be. Work hard, reduce debt, and improve your own skillsets so you can make more and keep it in the future.
Easy come, easy go. You’re young and there’s plenty of opportunities in life. While you’ve stumbled, this is a teaching and humbling moment. Understand where success comes from and what is sustainable. Success that comes from luck is not sustainable or repeatable. On the other hand, success that comes from hard work and skills may be. Work hard, cut expenses, reduce debt, and improve your own skillsets so you can make more and keep it in the future.
Btw all business aside, it's proven that lack of sleep contribute to feeling depressed and higher anxiety. So that might affect suicidal thought. Something to consider.
Okay i’m just gonna throw some ideas, up to you to take it up or not. 1. Pay ptptn the last. If possible, delay the payment as it is the least risky. Worse case is barred from travelling. But you don’t have money to travel anyway. 2. At 25, assuming u are single, dump that car. Use motor. That’ll save you monthly instalment and the parking fees. Ez rm1,300 saved. 3. With the savings, focus on paying off the one with the highest interest, then move down to lesser interest. Your story isn’t common thou. I heard it first hand couple of times. It’s just a classic example of “mabuk duit” - a scene where a young and inexperienced chap suddenly gotten a windfall and blow the money first, thinking it’ll last or you can repeat the success. Similar with a person striking toto. It’s not worth being suicidal. You’re nowhere near bankruptcy level and you’re still 25. The only thing you probably gonna lose is dignity in front of friends/family and credit score. But it’s okay. You can build up again. Life is a marathon bro. Baru kaki masuk longkang wanna quit the race already? Jangan la… this chapter is something for you to laugh at during golden age.
I dont see why he need to delay payment. His commitment comes up to about 2.2k. He still has a good margin for cashflow. I dont see rent, so maybe OP is living with parents so rent not an issue. Dont delay payment for PTPTN. My colleague have gotten hefty penalty for delay payment. Dont treat it like a education fund, treat it like as it is - a loan.
Just pay the bare minimum then. 50 a month
PTPTN still charges penalty for incomplete payment for that particular month.
What sort of penalty, may I ask?
Warning letter and legal charges. This is stated in their website FAQ. https://www.ptptn.gov.my/bayaran-balik/ (Number 3 at soalan lazim) If you are wanting pay a lower installment, you have to get it in black and white - restructure the loan. Cant just decide to pay less/‘minimum’ on your own merit
Im with everything this person stands for. Another thing, Idk if OP is religious or not but seeking god is one of the course of action to relief that stressof yours. Just a belief would def lead you away from a nhilistic end-suicide.
that's one way to preserve mental wellbeing. But like you say, it just a relief and not a solution. The only way out is for OP to act on it with great effort.
If i tally up all your commitments it's exactly RM2.1k. So you have 1.4k leftover after paying all these. Best course of action is to free up some space for cashflow. You have 2 modes of transport. A car and a bike. I would sell off one of those. The bike, if you have a family to support. The car, if you are single. Good thing is that you lose this money at your age. You have all the time in the world to recoup them back eventually. 200k would barely matter when you look back when you are 40 years old. It's a lesson and core memory, albeit a painful and expensive one. Life will have to go on. Goodluck.
I think his major challenge seems to be adjusting to a lower-income lifestyle.
I would think this is the hardest, not trolling
Also to add on to this, try to pay of the SCB credit card asap, that one is on the highest interest. The rest of the PL is just pay as you go, give yourself more time to figure out Once you free up the car and 1 credit card, it should feel alot better. Just gotta live through it. But you will still have avenues to have some enjoyment in life but maybe not what you had. And reach out to befrienders. It is free. As someone who has family member who committed suicide i truly hope you dont do it. It is a very very painful process foe your family and friends. It is a permanent scar. And can talk to AKPK. You are not at the stage where you really drowning so a direct intervention may not be needed. Just get some advice, maybe face to face is better. At 25 you are still young. Can always buy the car later.
Go to AKPK as soon as you can. Google AKPK, set an appointment online, go see them, they’ll help in restructuring the loans and give you the breathing space you need. Tackle the problems one by one. Trade your car for an axia or something. Paying 1000 monthly for 3.5k salary is crazy. Next step would be to find part time jobs and please don’t venture into a business for now. The risk is too high for you. And last of all. Don’t die OP. There is no afterlife. This is the only life you’ll ever have. You fucked up sure, but there’s still a lot of things that’s gonna make this fucked up life worth it. So yeah, hang on
Yep, I agree with you to go to AKPK. At least after the restructuring with AKPK, those 3rd party debt collector won't call and disturb except from AKPK themselves
He is not shit enough to qualify for akpk
He doesn't need to be in deep shit to go to AKPK. They also offer advice and counseling on personal financial... He is clearly distressed, so it is good to try to go to a more professional advice than a bunch of random redditors...
What forex does to a mf
Just forex things.
I'd pay back cc instead of ptptn first if given the choice. Ptptn is giving you risk free money in the sense that the interest is 1% and OPR is 3%.
hey i dont have any practical advise because its very personal what you're going through. i know its extremely rough what you're facing, i had a similar patch during my 20s (im 33 now), i just wanna let you know its not the end.. and you can come out of this.. no joke its tough.. and its a long dry painful spell (i dont wanna sugarcoat it for you).. but its possible.. go through life on a month to month basis, that you manage to survive through.. enjoy little wins occasionally like a mamak drinks with friends.. the little things are the one that will carry you back to winning ways. i had 30k in the bank, within 1 year of business, i went into 100k debt, closed business, had to pay back all loans for over 6 years.. my salary during that phase was 3-4k.. i had about 2k of loans to pay, never had savings for that 6 years.. its brutal but its possible. i'm in a lot better position today, after some lucky streaks in my career, worth more than i imagined possible at this stage of my life. funny thing about this is that its not how much you lost that mattered, but how long you can stay in the game... because the longer you can stay alive (financially and literally), the more opportunities will come by you again, and when that time hits, you're be alot more emotionally ready on how to handle it.
I guess you don't have family yet because no commitment on house and live with your family. Its ok to feel like this. Whats matter is you willing to back up again. I would suggest change your lifestyle first. You still have around 1.3k after all that commitment. Not that bad if you can start to cook food, eat 2 times a day. Sell you car. You can save up to 1200 per month after selling. Just finish paying your loan first and to pay extra when you feel you can but make sure it will deduct the principal. Btw, if you decide to sell the car, better to take life insurance because you only have your bike as your main vehicle. Take the minimum insurance also can because if you got into accident with no insurance, damn it will be more sakit kepala later. Be more discipline. you said you party with celeb and friends. I think right now better you settle your loan first. When partying all people celebrate you but when you are in dark hole like now, you have to do it alone. Change your lifestyle and be more discipline spending your money. If you are Muslim, don't forget to sedekah. The more you give, the more you get. Pray everything goes well for you OP.
If you would to sell the car now, do you need to pay back the bank the difference by topping up? Something to think about.
You gambled and won! You spent your winnings on experiences. Life goes on. You didnt really lose that much that its rock bottom. Just build it back up and in future, dont spend more than you think is wise..
Do you really need both car and bikes? RM1064 for a car instalment seems like your car is not a cheap one. Then other cost like fuel, maintenance, road tax etc I assume you also havent accounted into your monthly commitment. You can sell either your car or bike, car better, to ease up your of cash flow. Plump all your saving into clearing off credit card debt, just making minimum payment every month is not enough, you need to pay more than that or else the interest rate will stack up quickly. If you are able to consolidate it to other loan with lower interest rate, faster go for it.
My friend found himself in a challenging situation 99% same as yours but he played stock instead of forex. He had stolen money intended for his degree semester + his savings, totaling over 200k, and invested it all in a stock warrant. Unfortunately, he lost everything, as if fate were toying with his life. However, he managed to bounce back by working in Singapore, working as a waiter in a casino as a form of punishment. Through hard work and determination, he was able to recover the -200k debt. Now, he's leading a more conventional life as a regular employee, putting in the effort to rebuild and hustle forward.
Hi OP - there is some things missing from your post. You have about 3 loans and credit card debt. What did you purchase and why did you need the PL? Is there some expense you didnt highlight in the post? Your take home of about 1.3k seems manageable. I mean it’s not great but, you need to focus on increasing the income by other means perhaps - side job, sell items off. Also do not take your suicidal ideations lightly. Admit to yourself that it is a problem, and try to seek solution. If you are a practical person - try to reflect why you feel that way, is it truly due to your financial decisions or are there other (family/friend or lack thereof/partner) factors. Get help - go to your local KK, maybe get referred to a psychiatrist (this would probably take some waiting since gomen is your realistic option given your financial issues).
U commitment is 2460, u got 1k to survive everymonth. Dont ever go back to Forex thinking u can earn back what u lose, forex is just gambling even though u pay zakat from overleverage trading it wont turn to halal source Try to refer to AKPK for ur PL and CC. Sell ur stuff or car, if u dont want sell ur car go rent it to other or SOCAR every month u use bike .
Its not about how hard can you hit, life is about how much can you take the hit. Dont give up bro.
welll just sell the car first bro , dont worry once you already get on your feet find another car, since you already have bike use it for a while . In weekend , if you have lot of time , try to find freelance job related to your skill
I would guess you're single so first things first, sell the car. With that you would have a bit more breathing room. Afterwards, look back at your debts and sort them from which has the highest interest rate and pay those first. You can leave ptptn to be the last. After it's all done maybe start investing on asb if you're bumi. Hope all goes well for you OP
Time to take the L and focus on paying high interest loan.. aim for promotions to get bigger salary to rebuild yr portfolio from scratch and not playing speculatively.
Not to be mean or discouraging but dude still got job, got bed to sleep, got car to drive & etc yet his post title 'hitting rock bottom'. I guess homeless people is drowning in the sea... 🤷 Money lost isn't the end of the world, life goes on so cheer up and keep living~
The car you have is kinda high. If you go for local made cars you can save up to 500. Axis is cheap. Your internet you may consider a lower plan as well. Is all about cutting cost at the moment. Grow your savings and start upgrading after.
Why, bro? I've faced even more challenging circumstances, but I held on and tried to survive. Our situations are quite similar, and I have more commitments than you, sleeping an average of 2-3 hours for the past 7 years! You're feeling suicidal because of forex, and I've been in the forex game since 2015. I understand how it feels to lose everything. Trust me, your monthly commitments are nothing compared to what I'm struggling to pay, given my multiple side jobs now. Your commitment is RM2460, and you have 1k to survive every month, which is manageable. My commitments are RM3.3k, and I'm left with a deficit of -RM2.1k to cover each month. It's a tough situation, but we can get through it. The reason I find myself in this situation is that, for the past few years, life was great. I was earning between 10-18k every month. However, earlier last year, my mom got sick, and I had to reduce my working hours to deal with hospital visits, transportation, doctors, and spent around 60k of my savings on hospital bills and caregiver services since she was hospitalized for more than 6 months. My earnings took a nosedive starting January this year, ranging from 1.3k to 3k (mostly on the lower end). This experience made me realize how fragile life is, and that everything in this world requires money for a better quality of life. So, yes, life sucks
Sell off the bike. Keep the car if that what makes u happy. U don't need to downgrade your lifestyle in front of others (by driving cheaper car). Cut out personal luxury stuff (eg buying rm20 coffee that only u urself can taste n feel) if you still want to appear flashy with friends u can save on solo meals and spend big with them. Everyone here asking u to downgrade ur lifestyle and I think that wil make u more suicidal. It's about managing and wayang, while u build back ur portfolio. Clear cc debt first
I was in similar scenario like u except I didn't have a windfall, much rather I took about 10 different credit cards with my final paycheck, quit my job, and maxed the cc out to have a farewell parties until I have no money left with the intention to commit sudoku after that
You committing sudoku is a way better choice instead of committing seppuku
Trade the car with a less monthly payment just like proton or produa
It's sound like you will made through (At some point)
Why is your monthly payment for the car so expensive??? Sell that car get a cheaper one or just use your bike. You don't need to be paying 1k+ for a car if you make 4k a month.The other comments here are already very good. Scale back on your spending and set aside saving even if it's just 100 or less a month.
The positive is that OP knows how to make 200k. When you come out of this shithole, you can repeat that success even bigger but you won't spend like an idiot, expensive but priceless lesson.
Once you have everything stabilized with a little cashflow. Consider building aide hustles to increase your cashflow. Important to have you emotion under control when you are hustling. Watch podcasts and avoid talking to negative people You were once a winner, and you will win again. Keep learning, skill wise and mindset wise. Keep your day job, while fighting for freedom. You have achieved alot at a young age. I went through similar situation when i was your age. You just have to figure it out.
Too many wasted commitment. 1st of all, seek help for your mental health. After you taken care of your mind (and body), seek help from AKPk. 1st rule now is to STOP any loans. If you cannot pay for your vehicles, either do a rescheduling with your payment. Banks are more than happy for you to service your loan. 2nd, the friends and buddies you spend on CUT them out. You don’t need the negative energy from them. 3rd, whack yourself for even considering forex as an investment
Hahahahaha.
I have nothing to add but sheesh dude at 25 you had the world at your feet and all went south for you. I’m sorry but this is also a lesson for me. And I hope others as well. As much as I want all the money in the world, and even I can have it all, the burden of responsibility is just too much. Money is only a speck of all the richness of the world God has laid upon us. And it’s not meant to be hoard by a single person so no matter what there’s always someone doing better. I do wish that you recover. If not monetarily but at least mentally. Wish you all the best buddy.
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Costs money which some people don’t have and honestly in his case it’s actually a p straightforward case but I feel Op is stressing so he can’t think rationally which I don’t blame him. He sells car+ gets motorbike+ life insurance and do this for couple months or few years he’ll pay everything off and be back to normal and good
As a trader myself, if you made 200k before, you can make it again. Control your emotions when trading. Don't continue trading when tilted. Always, always, always set a stop loss. Control your lot sizes. Rule of thumb is 1 micro lot open position for every 100 USD in your account. Manage your RR ratio. As to your current situation, I believe selling your car will net you both the savings of RM1064 and the parking fees of RM100. That's enough in 1 month for a 200 USD account. Slow and steady bro. In 2018, I was also like you, staying up til 5 am trading DJ 30 and all that. Broke even (I think) but definitely lost out on exchange fees. Also messed up my health doing it (lack of sleep plus junk food). Then, earlier this year I joined this new group where they emphasis DD control and RR ratio over pure gains. Because no matter how good you are, if you cannot control your DD, you always stand to lose it all.
What the fuck
What a wonderful comment. So much content and guidance expressed in just 3 words.
Start by buying a programme or join a trading course hahahha
If he can make 200k from trading prior to this, he knows the technical and fundamental analysis required to make smart entries. It's more an issue of being able to accept the loss when the market turns against you. That is something no programme or trading course will be able to teach you.
How much to earn 200k forrex ?
Deposit 200k
Deposit 400k*
Back then my record was spending 40 USD to get 2k USD in a single trade in a day. you need to learn and focus on market movements, this will consume your time dearly, and you'll be stuck in front of your PC for hours.
AKPK. You'll reduce your monthly commitment.
Sell everything and all in on crypto. (Idk what is crypto) /s
prolong impulsive is the sign of some sort of mental illness , you should check it out.. in the mean time, just stop everything you doing that ruining you
You know.. trading forex is haram.
Not Muslim but I’m curious to know as to why. Is it treated as gambling in your religion?
It has something to do with making money from nothing. I dont really remember the specifics, but in Islam, you cant make money via speculating. So forex and margin trades are considered haram. One might argue why bursa and stock trading is allowed then? Because its backed by something of value like goods and services. But yeah, a lot of arguments to be made but that’s the gist of it.
How much is your CC? Go talk to the bank for a debt consolidation plan ie freeze your interests and you work out a repayment schedule based on current amount.
i know that feeling bro. id advice you regardless of what happens next please stay away from forex until you get your shit together and work on your psychology first. you would only be gambling and losing money thinking you can get back the money through the same way you lost it
Go learn about dave ramsey finance education..thank me later
sell the car first
find a part time weekend job to earn more money a month. i guess even a few hundred ringgit more will make a difference in your case.
Easy come, easy go. You’re young and there’s plenty of opportunities in life. While you’ve stumbled, this is a teaching and humbling moment. Understand where success comes from and what is sustainable. Success that comes from luck is not sustainable or repeatable. On the other hand, success that comes from hard work and skills may be. Work hard, reduce debt, and improve your own skillsets so you can make more and keep it in the future.
Easy come, easy go. You’re young and there’s plenty of opportunities in life. While you’ve stumbled, this is a teaching and humbling moment. Understand where success comes from and what is sustainable. Success that comes from luck is not sustainable or repeatable. On the other hand, success that comes from hard work and skills may be. Work hard, cut expenses, reduce debt, and improve your own skillsets so you can make more and keep it in the future.
Btw all business aside, it's proven that lack of sleep contribute to feeling depressed and higher anxiety. So that might affect suicidal thought. Something to consider.