Wednesday, 13 April 2016
Will You Try To Pay Off Your Housing Loan ASAP If You Have One? (7)
Read? More than 1 in 2 Singaporeans doomed to retire under a pile of debt
Will You Try To Pay Off Your Housing Loan ASAP If You Have One?
At every recession, we will read again and again!
Heng ah!
"We don't have many financial commitments - our car was scrapped last year and the housing loan is paid up, so we're not hit so badly," says Ms Chew, who is taking a break before job hunting.
How many folks out there get it?
Read? Help! I've been retrenched
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debt cannot grow faster than income, otherwise dead meat! That said, if u are able to afford and cleverly manipulate debt in manageable way, it can worked in your favour.
ReplyDeleteThe issue here is too many Singaporeans today are optimists because they were spoilt by our Mr. Govt, taking for granted that salary will only increase and increase and bonus can always be 2-3 months like it was always be in the last 30 yrs.
But frankly it is not true. So first criteria is dependent on ourself ownself then govt! Next if u can earn / afford n know what u doing, then why not. otherwise Better be a paranoid!
Rolf,
DeleteThat's why I was so impressed with someone when he "unloaded" his car.
Taking money off the table for investments - that's a lot easier said and done.
But to ACT and reduce family EXPENSES on foresight that dark clouds are coming?
Now that's a whole another level ;)