M’sian Man Shares How He Became Debt-Free At 50yo With A RM950 Salary

In 50 years of his life, he managed to own 2 houses and 2 cars.
Everyone finds happiness in different ways. Some feel it with family harmony, good health, or financial security. Others find it in peace of mind. But no matter how you define it, happiness is something personal.

Recently, a compelling narrative surfaced on social media, shedding light on the remarkable journey of a person who embarked on a quest for financial freedom. With dedication and determination, he conquered debt and succeeded at age 50 and now earns around RM5,000 monthly.

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It all started 22 years ago with a RM950 salary

Terrace house in m'sia
For illustration purposes only. Photo via iProperty

Reflecting on the early days of his marriage which is 22 years ago, the journey began with humble beginnings.

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With a modest salary of RM950, he bought a home for RM42,000. They furnished it simply with only what they needed, like a bed, a washing machine, a fridge, and a wardrobe. It was the starting point of he and his wife’s dreams.

“Twenty-two years ago, when I got married, I was earning just RM950 a month. Right after tying the knot, I bought a simple house for RM42,000.

Inside, we had only the basics: a mattress, a bedsheet, a semi-automatic washing machine, a single-door refrigerator, and a wardrobe that cost us RM45.”

They also got around on a Kriss motorcycle, which was handy for getting through life’s ups and downs. But when their first child came along, they needed something bigger, so they got a used Proton Iswara. Even though money was tight, he appreciated that his wife didn’t spend unnecessarily—a blessing in disguise.

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Not chasing temporary thrills

Proton iswara
For illustration purposes only. Photo via Flicker/Manoj Prasad

Getting to financial freedom wasn’t easy.

He and his wife carefully considered every purchase, making sure it aligned with their goal of being debt-free. While others splurged on things, they stayed focused on being smart with money rather than chasing temporary thrills.

Their journey took a big turn when they decided to buy a new car, a Proton Persona, eight years after getting the Proton Iswara.

He splits the deposit with their spouse, showing their joint dedication to managing money wisely. By sticking to regular payments and putting extra money towards the main loan, they moved closer to their goal.

24-year home loan for RM80k house

In 2014, he reached a big milestone by buying a house near Bukit Beruntung for RM80,000.

Despite rumours about the area, they saw it as a smart investment. To make payments easier, they chose a 24-year home loan. They planned carefully, using their past achievements as motivation.

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“In 2014, I purchased a landed house near Bukit Beruntung for RM80,000. Some said it was haunted, but I paid no mind. I opted for a 24-year home loan to keep my monthly payments low. But I thought about it. If I could pay off a car worth over RM100,000 in nine years, why couldn’t I do the same with my house?”

Debt-free at age 50

Wallet with ringgit notes in it
For illustration purposes only. Photo via Canva

After years of hard work and staying strong, he finally paid off all their debts at age 50.

“So, every month, whenever I had extra cash, I put it towards paying off the main loan amount. Alhamdulillah, last year at age 50, I became debt-free.”

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Their success shows how setting goals, working hard, praying, and trusting in something bigger can pay off.

“When friends buy new cars or motorcycles, I just look away. My rule now, since I’m debt-free, is if you have money, go ahead and buy. But if you don’t, don’t borrow. Now, in the area people used to call haunted, new houses are selling for RM400,000,” they added.

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