All my hutang, which ones I’ve paid off, and future debt plans


In this day and age, it’s pretty hard to avoid being in any kind of  debt (hutang). This is my debt history.

I don’t talk about my debt a lot on this website because it just seemed too.. personal. But then again this *is* as personal finance website, and I don’t want to give an impression that I’m swimming in cash (because I’m not). I’ve been in debt. More good debt than bad debt, I admit #Iamaresponsibleadult.

Here’s all the debt I’ve ever had so far and how I paid them off (but one).

ASB Loan (NOT Paid Off) – Good debt

I took RM50k loan from Maybank in order to kick-start my Malay-privilege investment, the Amanah Saham Bumiputera. Yep just milking my genetic lottery for what’s it worth. This was in February 2011, so I was… 22 years old. I’m currently locked in a 25-year RM289 per month payment.

20 more years to go. It is worth it, though. The earlier I start, the more I’ll end up with. Compound interest, bitch.

PTPTN Loan – Good debt

On March 2015, I successfully paid off the remaining balance of my PTPTN loan. I took the 20% off incentive so I managed to save RM1014.82. Before that, I enjoyed 10% off anyway because I always paid my PTPTN loan on time #humblebrag.

This is the screenshot of my final payment amount. Paying off RM4k at one go was painful, but ultimately the right decision.


This is not THAT impressive, IMHO. Check out how Mr Stingy paid off his RM58k education loan (which bought him freedom from continuing his student loan bondage).

Maybank EzyCash Loans – Bad-ish debt

In the interest of full disclosure, I want to admit that I made non-essential personal loans, too. I took the Maybank EzyCash twice – once to buy a laptop and once to buy more bitcoin than I should (I was greedy). It wasn’t the smartest choice, because even though it said interest-free, there was 3.88% fee attached to it. Still, it seemed like the best option at the time.

I managed to pay them off in 6 month-installments.

Image credit: maybank2u

Warning: On borrowing money to invest in bitcoin – please don’t follow this just because I do. Before my passion for bitcoin, I used to be very conservative with my financial plan. I had a very low risk tolerance, which means that I avoided investments that may not return back my money. In this sense, I invested like a woman. Which turns out to be a great thing because research said that women make better investors than men (proof 1; proof 2; proof 3). If you are new to investing, please invest like a girl. Warren Buffet does, and dude he’s like, one of the best investors in the world.

Future plans (good debt)

Property – To live in? To rent out? To AirBnB it out? To make my own minimalist, Japan-inspired home in Malaysia? I don’t know, but as I get older it gets more appealing to buy my own place.

Image credit:

Business – If I ever play out one of by business fantasies, I’ll need more capital. Side note: Super happy that my failed business idea Kotak Koffee (yes I know how weird that reads lol) didn’t put me in the red.

Study – I’m currently contemplating to go back to school. I like the idea of officially studying finance, specifically Islamic Finance. INCEIF has scholarships available for women, if you are interested.

Future plans (bad debt)

A car.. – I’m really enjoying my car-free life and all, but I am sustaining a 12-year obsession with small jeeps, despite how impractical they are to my needs. It’s the only type of vehicle on the road that ever catch my eyes, and I don’t want another type, I want this particular type. I blame Gilmore Girls – Lorelai drove one of those and I love Lorelai and now I want it.

Image credit: wikipedia

Credit card debt – Over my dead body. I refuse. At 18% per annum, I will try my best to avoid this!

Thoughts about debt

The majority of Malaysians carry a lot of debt, especially since the last few years. Blame whoever you want, but the fact is still this. A healthy debt ratio is <40% (aka less than 40% of monthly income goes towards debt repayment), but ours is… 145%.

Debt is scary, but if you have it, it’s really not the end of the world. There are so many success stories online about how Ms or Mr so-and-so successfully paid off hundreds of thousands worth of debt. It’s achievable, because the earning potential for an individual is virtually limitless. It’s harder because of our system, but it is possible.

I don’t think we talk about our debt/hutang as much as we should, do you agree? Are you in good debt? Bad debt? How are you paying it off? Comment here or tweet me at @surayaror about your hutang story.




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    1. Hi Norah, for me they deduct it automatically every month from my maybank account. Not a Maybank rep, so you can ask them for advice too 🙂

  1. thinking to take the ezycash to pay my credit card balance. Is it wise? reasons the payment will be less and structured. Please advise

    1. Hi Azizi,

      I don’t know your financial situation, but taking debt to pay off debt is rarely a good idea.

      Have you looked into balance transfer credit cards? This is exactly the solution they provide.

      1. I did that way, taking a new debt to pay off the old debt (credit card).

        it’s not working for me. if you have a good mindset & a very disciplined person, then u may proceed with the idea.

        while the government announced that we can take a moratorium during this pandemic season, I used the money to pay my debt slowly. I now realize that we actually can leave our life peacefully without a credit card.

        1. Hi zaza,

          Well you tried. Don’t beat yourself up over it. Its good that the experience helped you learn life without credit card

  2. respect. after graduated, i still use my old motorbike to work. after married i share with my wife’s car to work, really troublesome at 1st, because its 40km far away from my wife office. we struggle as we want to settle our wedding loan. After loan settle, we have a baby, then i took a car loan as a gift for my wife giving birth. in future i plan to buy a house after my car loan settle. Now struggle to pay my car loan and PTPTN.

  3. hi suraya, stingy paid off is scholarship by petronas not ptptn.
    I am interested to read you all free finance blogger..
    I not sure my mind thinking right or not, i feel ptptn debt is good debt and no need to pay so fast since its 1%. as i extend it to near 30 years, i can pay it off but i don’t want, as the money i can roll even FD i am earning 3% extra. . but i still trying to gain more information for my money to park.. maybe diversify safe n high risk..

    1. Hi addy,

      Thanks for spotting the error! Can’t believe I missed it for 2 years!

      You’re right in saying that PTPTN debt can be considered good debt, since the interest really is quite low. However the discount was too attractive to ignore for me. Plus it’s nice to have one less debt.

  4. Hi, how do you start making Asb loan on 22 years old? Are you already finish study during that age? coz i’m thinking to apply asb loan during that age, and now i am 24 (still not apply it yet), the reason i did not apply it before is due to bank’s requirement that need the applicant to has regular income or idk (in detail) that is why make me hesitate to apply for it before.

    1. Hi Aizad,

      Yeah I was already working and making regular salary at that age, that’s why lulus. Its far easier to apply when you’re still working. I tried to re-apply ASB loan years later while self-employed and take lepas

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