Hitting Rock Bottom

[catnaper]

@mjmotr1 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.

 

[humbleheart]

@mjmotr1 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.

 

[pmmg]

@mjmotr1 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.

 

[ant101]

@mjmotr1 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..

 

[schrute]

@mjmotr1 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.

 

[semyamara]

@mjmotr1 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.

 

[sam1978]

@mjmotr1 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).

 

[matches]

@mjmotr1 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

.

 

[seasonofillusions]

@mjmotr1 Its not about how hard can you hit, life is about how much can you take the hit. Dont give up bro.

 

[colleenz]

@mjmotr1 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

 

[jessbeachbum]

@mjmotr1 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

 

[druelas]

@mjmotr1 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.

 

[wtrailer]

@mjmotr1 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~

 

[wiswit]

@mjmotr1 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.

 

[davidleep]

@mjmotr1 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

 

[revtyl]

@mjmotr1 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

 

[revtyl]

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

 

[cataldrey]

@revtyl You committing sudoku is a way better choice instead of committing seppuku

 

[lovedajesus]

@mjmotr1 Trade the car with a less monthly payment just like proton or produa

 

[kroshiou]

@mjmotr1 It's sound like you will made through (At some point)