Financial Advice needed BADLY

[on_plus_kiasu]

Hi all,


Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

[verykiasu2010]

on_plus_kiasu:

Hi all,


Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

It is good to hear that. Keep it up.

Not many of us take holiday every year too....when I started work, never gone on a holiday till quite a few years later. Don't be tempted by all the trappings of life - it only gets you to spend unnecessarily.

Kong Hee Fatt Choy to you !

[titank]

on_plus_kiasu:

Hi all,


Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

Endure this period & your objectives can be achieve. No holiday for 1.5 years no big deal. Remember 你有钱，天天都是 holiday.

[tech_wizard]

On-Plus,


You are on the right track, keep it up.

PS - You are not alone

TW

on_plus_kiasu:

Hi all,

Thanks for the advice and motivation. I am currently doing almost everything that all of you recommend. I am seriously committed to be debt free. So far, I am trying to get a better deal in clearing my debts.
I'm working 2 jobs ( don't tell my boss) to increase my income to pay off my debts. I am trying to get help from my insurance agent to see if i can get at least 6 months off paying the insurance, so i can use that money to pay my debts. I haven't been on a holiday for 1.5 years. I don't want to incur anymore debt and once i get my bonus, i'll use it to settle my girl's school fees for the year so i have one less thing to pay monthly. Things are looking up this rabbit year so I hope it wil stay that way or get even better. Thanks to all of you for the advice, motivation and support. Have a good holiday and Happy Chinese New Year to ALL.


:celebrate:

[Belle2011]

I need some financial advice on MRTA.

May I ask if this type of insurance can only be bought after the property has TOP?
Dh and I have bought a new condo and took a bank loan. We intend to repay this loan for x years. Is there a type of insurance to cover this period of x years, so that anything happen to the borrower (dh), the bank loan can be settled by the insurer?

[hquek]

Belle2011:

I need some financial advice on MRTA.

May I ask if this type of insurance can only be bought after the property has TOP?
Dh and I have bought a new condo and took a bank loan. We intend to repay this loan for x years. Is there a type of insurance to cover this period of x years, so that anything happen to the borrower (dh), the bank loan can be settled by the insurer?

I took out a home protection plan with an insurer. Basically it covers x amount in event of death. The x amount will reduce over time since loan should be reducing. Not that ex. And I understand that in event of death, the proceeds may be used to pay for any other debts (I completed one home loan sometime back but have another hanging over my head, so kept the plan going).

[Belle2011]

hquek:

I took out a home protection plan with an insurer. Basically it covers x amount in event of death. The x amount will reduce over time since loan should be reducing. Not that ex. And I understand that in event of death, the proceeds may be used to pay for any other debts (I completed one home loan sometime back but have another hanging over my head, so kept the plan going).

Hi,
Has your property TOP or just started building when you bought this insurance?

[hquek]

Actually I bought a resale. Best to check with an insurance advisor.

[warriortemujin]

Really sorry to hear ur story. The best way is to sit down and calculate how much r u indebt.


Set a realistic target to pay off. As long as u are able to pay off more than the interest then u’ll be able to clear off asap.

It is like being overweight and u need to lose wt. There’s no fast route to get out of this.

Just have to move on and not give up.

[Soul108]

Belle2011:

I need some financial advice on MRTA.

May I ask if this type of insurance can only be bought after the property has TOP?
Dh and I have bought a new condo and took a bank loan. We intend to repay this loan for x years. Is there a type of insurance to cover this period of x years, so that anything happen to the borrower (dh), the bank loan can be settled by the insurer?

MRTA can be bought now
Personally I would buy a level term instead of a decreasing term. At least over the years I can still have the same level of coverage.