28 year old Singapore teacher burdened by hefty loan
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WeiHan:
Well...20 years back you can be a thrifty teacher that saved alot and a bought a terrace house at Joo Chiat that only cost 300-400K and is worth more than 2 millions today. People 30-40 years ago can simply buy a property at a cheap price and sit on great wealth today. BUT TIME is different.
I think can leh ...
Last time, people don't go to movie often.
Last time, people don't eat out often, not to mention eat in restaurants.
Last time, no handphone bills to pay, no internet bills to pay, maybe even no home phone bills to pay.
Last time, what is the % of family had car?
Last time, not all family even had TV or radio, don't mention, cable tv, Blue Ray, DVD ...
Last time, people only listen to radio for songs, how many can afford a record player or even the record disc.
Last time, people only bought new clothings, shoes and bags during CNY.
Last time, no air con, no washing machine, so the utilities bills also not as high.
Last time ...... so far, thats all I can think of :idea:
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WeiHan:
Regarding this point, I really do not quite agree with the government's effort to follow the private sector and use KPIs to measure performance. Unlike the private sector where they measure by dollars and cents/bottom line, a service to people, in my opinion, is really hard to accurately quantify.
And then why should our government measures their own success based on a GDP figure and their own performance based on KPI?
So far, I feel that it leads to self-glorification, doing things that makes one looks good on paper so that one can rise up the rank, but may not necessarily be beneficial to citizens.
A typical example: Look at how the teachers are being bogged down with all the unnecessary work, and how principals work to \"glorify\" their schools, some, I feel, deviate from the true purpose of education, all because of the need to achieve KPIs. -
WeiHan:
Yup, I was really lucky I bought it just a few months before the boom. But at that time, it was already expensive. We made a calculated decision and i think that is the most important thing.
You may have bought your 4-room flat a few years back when price was much cheaper but the couple in the article just bought it at 500K. The real killer here is the property price.
A friend of mine bought a 3rm flat (repossessed) at $150K during the property boom because she made a calculated decision. She didn't care about where it was located and the amenities around it. All she wanted was a house to stay during that tight period where she had to quit her job taking care of 1 baby and another one on the way. Plus she knew that by the time she finished paying the loan in 5 years, she would have accumulated enough money to buy a condo, which she is looking for right now. Btw, she also has a car and is a SAHM and her husband brings back less tha $5k and is a DIploma holder.
The moral of the story is that before you make any major investments, you should have calculated your expenses. If you couldn't afford it, why buy it?
And these investments are long-term ranging from 10 - 35 years, it requires a long-term financial commitment. The thing is I think that the teacher wanted to lead a high life with the car and the house or rather she did not calculate the cost of all these material things beforehand. You can forgo one of the above mah....
Btw, don't blast me hor.... Just stating my opinion because I had to really shoe-string my budget to get the things I have now. I don't symphathise with people who had made financial boo boos and then air them online as though they were victimised. Nobody forced you to buy a $500K house what...
Apologies if I offend anyone. :oops: -
daisyt:
Daisyt, :peekaboo:WeiHan:
Well...20 years back you can be a thrifty teacher that saved alot and a bought a terrace house at Joo Chiat that only cost 300-400K and is worth more than 2 millions today. People 30-40 years ago can simply buy a property at a cheap price and sit on great wealth today. BUT TIME is different.
I think can leh ...
Last time, people don't go to movie often.
Last time, people don't eat out often, not to mention eat in restaurants.
Last time, no handphone bills to pay, no internet bills to pay, maybe even no home phone bills to pay.
Last time, what is the % of family had car?
Last time, not all family even had TV or radio, don't mention, cable tv, Blue Ray, DVD ...
Last time, people only listen to radio for songs, how many can afford a record player or even the record disc.
Last time, people only bought new clothings, shoes and bags during CNY.
Last time, no air con, no washing machine, so the utilities bills also not as high.
Last time ...... so far, thats all I can think of :idea:
Last time school uniform, schoolbook all clothes are hand me down until if lucky one start work
Last time first watch is from sibling cos got work
Last time one apple share by 4/6 ...Mango is a luxury,
Last time pencil box hand sew ...no need money ...
the list goes on but Disciplined Expectations is the key irregardless of the Era...
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WeiHan:
Actually hor, last time money very big leh. 10 cents can buy you a big bowl of noodles. So during that time, comparatively, 300 - 400K is actually a big sum to save to get the property at \"cheap\" price.
Well...20 years back you can be a thrifty teacher that saved alot and a bought a terrace house at Joo Chiat that only cost 300-400K and is worth more than 2 millions today. People 30-40 years ago can simply buy a property at a cheap price and sit on great wealth today. BUT TIME is different.
-
WeiHan:
Well...20 years back you can be a thrifty teacher that saved alot and a bought a terrace house at Joo Chiat that only cost 300-400K and is worth more than 2 millions today. People 30-40 years ago can simply buy a property at a cheap price and sit on great wealth today. BUT TIME is different.
I still think it's a income relative thing. Maybe the thrifty teacher was relocated from some kampung and he managed to plant some trees or has a well and is compensated well by the government???? Joo Chiat probably wasn't such a expensive place and does not have D15 image previously???? We think 300k is cheap but in their era, 300k is alot given that my parents paid for their 3 room HDB flat in Marine Parade for no more than $15k. Not alot of people can afford $300k then. -
kiddo:
Ha, ha...I like that..Disciplined Expectations!
the list goes on but Disciplined Expectations is the key irregardless of the Era...
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daisyt:
WeiHan:
Well...20 years back you can be a thrifty teacher that saved alot and a bought a terrace house at Joo Chiat that only cost 300-400K and is worth more than 2 millions today. People 30-40 years ago can simply buy a property at a cheap price and sit on great wealth today. BUT TIME is different.
I think can leh ...
Last time, people don't go to movie often.
Last time, people don't eat out often, not to mention eat in restaurants.
Last time, no handphone bills to pay, no internet bills to pay, maybe even no home phone bills to pay.
Last time, what is the % of family had car?
Last time, not all family even had TV or radio, don't mention, cable tv, Blue Ray, DVD ...
Last time, people only listen to radio for songs, how many can afford a record player or even the record disc.
Last time, people only bought new clothings, shoes and bags during CNY.
Last time, no air con, no washing machine, so the utilities bills also not as high.
Last time ...... so far, thats all I can think of :idea:
Hey people....I not joking leh....I went to my colleague's mother's terrace house in Joo Chiat. His mother bought it in the 80s for something like 300k and she was a teacher...a MOE school teacher. And his father died quite early...so is a single parent family. -
MMM:
Late 80s, three room flat still 15k meh?WeiHan:
Well...20 years back you can be a thrifty teacher that saved alot and a bought a terrace house at Joo Chiat that only cost 300-400K and is worth more than 2 millions today. People 30-40 years ago can simply buy a property at a cheap price and sit on great wealth today. BUT TIME is different.
I still think it's a income relative thing. Maybe the thrifty teacher was relocated from some kampung and he managed to plant some trees or has a well and is compensated well by the government???? Joo Chiat probably wasn't such a expensive place and does not have D15 image previously???? We think 300k is cheap but in their era, 300k is alot given that my parents paid for their 3 room HDB flat in Marine Parade for no more than $15k. Not alot of people can afford $300k then. -
WeiHan:
Hey people....I not joking leh....I went to my colleague's mother's terrace house in Joo Chiat. His mother bought it in the 80s for something like 300k
I believe you on the price. My neighbour (semi-d) paid $200 - $300K for their house 30-40 years ago. In their case, they are business people so they said they bought 2 other semi-d (one opposite their house) and another down the road for their sons :roll:
But did you ask your friend's mother if she manage to buy that with her pay or maybe she had some inheritance, etc....
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