Part 2 – Financial Planning with ASB, OD and Card Credit (Perancangan Kewangan dengan ASB, OD dan Kad Kredit)

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First I heard about Aziz CFP was from my friend, who actually heard from one of Aziz’s client. Because the story was not directly from the Aziz’s client, I didn’t get clearly how financial planning with Aziz will improve my financial status. Actually my friend who told me the story also couldn’t clearly understand what it is about.

What he told to me mostly like this. Apply OD (Overdraft), draw cash from Credit Card for your monthly expenses, then put all your salary into OD. The first thing that I was very concerned is about draw cash from Credit Card. By right we should avoid the CC.

Since my friend couldn’t explain much, plus he also didn’t really understand how it works, so I did research from internet. And I found one forum explaining more details. Let me summarize as below.

1. Prepare some money in your ASB. Either from your saving or apply personal loan if you don’t have any saving.
2. Convert ASB to Sijil, then apply OD with the Sijil.
3. Once your OD approved, settle all your major loan.
4. Bank in all of your income into OD account.
5. Few days after that, withdraw 30~40% of your income’s amount from OD and put into your ASB account.
6. Use Card Credit for your monthly expenses and must be within SD (Statement Date) and DD (Due Date).
7. Pay amount used by CC on next month use OD.
8. Duplicate from step 1 again every month.

Doesn’t make sense huh?…Actually they had explained more details, but I don’t want to share all the story here to avoid you guys get confuse and wrongly manage your financial. Financial planning is not something that you can try and error. Even 1 day will give you a different result.

So I tried to figure out how with my financial status. I did a simulation, via excel, via flowchart, but I still can’t figure out how this can improve my financial. And you have to apply all steps with specific amount and date…depends on your financial status. Finally I started to forget about it and keep all my research and simulation into one folder in my PC…to be continue…

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