What would you do if you are bestowed a million ringgit?

What would you do? Hmmm...What would I do? May be I would spend some, save some and invest some. Or may be I would venture into entrepreneurship?

If you asked me, 1 million ringgit (about USD 280,000) is not enough for me & Atiz or either one of us to quit our jobs and splurging our life. But definitely it will help to ease some financial burden. I could pay all my debts, then buy and sell some basic necessity and assets. Here are things that I would do...

Houses
I would pay my Denai Alam's housing loan balance of RM370k (inclusive of any penalties due to early settlement) and my Seri Puri's housing loan balance of RM74k (inclusive of renovation loan). Then, I would spend some RM100k for my Denai Alam's interior, landscaping, furniture and electrical goods. Once completed, I will not need to keep my Seri Puri. I would sell it and gain another RM160k (after deducting the repairs, agent and lawyer fees). How much left so far? RM616k

Cars

I would pay my car loan balance of RM102k. Then I would sell Atiz's car for RM22k and buy 2 new Myvis at RM100k, one each for me and Atiz to commute to work. Now RM436k left.

Other Debts

I would allocate RM146k and RM137k for my study loan and Atiz's respectively. I would also settle our credit cards' balance and personal loan of RM25k.

Yippeee... I'm free from debts now. Instead of paying the monthly installments and interests, now I can save up to RM6,000 every month for future entrepreneurship. And all the basic necessity has been paid off. I still have RM128k balance from the original one million. I'll surely want to celebrate this and spend half of the balance by a-month-long family vacation in Europe. The final RM64k will be saved in my ASB account for a rainy day. Errr.......wait a minute. What am I merapuing? It's only a dream.... Aarrghhhhh!!!!


Coming up next.....What would you do if you are bestowed 10 million ringgit?