Why Most Singaporeans Are in Debt

[Mawar]

Imp75:

and the strange thing in Spore is that only the lower income group is procreating but not the higher income group. Maybe different expectations in life hiaz!

Partly cos they spend longer time in school, then time to embark on their careers, time to look for suitable life partners ... Lotsa opportunity costs and time is running out.

[sleepy]

Mawar:

But how can we be debt free? We need to pay our mortgage and car loan.

Spend within your means. Better still, spend beneath your means so you can accumulate some savings too.

[sleepy]

We were debt free 6 years ago. Have to make do without fancy big house, expensive long haul trips, frequent meals at restaurants to reach our debt free target.


Now without any loan commitment, we can easily save > 50% of take home pay because we're still living beneath our means Somehow got used to being soooo thrifty so we find it hard to spend 'unnecessarily'.

[Lynn2010]

Imami:

Imp75:

I was once young and earning that kind of salary that was described but I don't find myself getting into unnecessary spending debts for Larry's or Rolex or Cartier so boils down to values

Indeed. Not everyone goes the same way. Even till now, I am only wearing a $288 solvil et titus watch and I have been wearing it for 7 years. Is a Larry, Tiffany or whatever rock really that nice? I don't know... I am still wearing the $488 (for a pair) wedding band my hubby had bought with the savings from his ns pay.

Hahaha imami, you more \"Ai sai\" than me lah..... i wore a watch though DKNY but i got from a lucky draw, prior to this, i dont have a watch. [cos i always lost it] Wedding band was >$280, bought almost 18yrs ago. Why i so cheap skate :). Since then i was given a cross pendant and chain (i think $200+) , and a 'diamond look a like' ring ($200+ as a Mother's day gift).

[sleepy]

I use handphone to read time. Don't own a watch :evil:

[Lynn2010]

ksi:

Imami:

[quote=\"Imp75\"]
I was once young and earning that kind of salary that was described but I don't find myself getting into unnecessary spending debts for Larry's or Rolex or Cartier so boils down to values

Indeed. Not everyone goes the same way. Even till now, I am only wearing a $288 solvil et titus watch and I have been wearing it for 7 years. Is a Larry, Tiffany or whatever rock really that nice? I don't know... I am still wearing the $488 (for a pair) wedding band my hubby had bought with the savings from his ns pay.

Wedding band does not change unless one party loses it, then gotta get a replacement. Problem with rocks is it is not forever as touted, after a while, can be quite sian too, like clothes and bags and then it would be stashed away. A lot of material things are good to have.[/quote]Ksi, my dh lost his 16 yrs ago, 2 yrs after we got married. The ring was never replaced. He felt that no matter how it will not be the same one. It's ashame that he lost it, he will have me in his heart. May be say this to save money to buy his ipad or something... hehehe

[Lynn2010]

sleepy:

I use handphone to read time. Don't own a watch :evil:

I thought mine is free.... Ok. You win
:snuggles:

[Mychildren]

sleepy,


Me & DH used handphone to c time too & as alarm clock.

:hi5:

[peapot]

Wow!! That’s amazing. I never think Hp can be so useful. I actually wake up on my own. My body seems to know my office working hours. I need alarm clock only when I need to wake up exceptionally early.


Sleepy, I must learn from you. I hope one day I can also save 50% of my pay. Now I m just able to save 25%.

[Lilac66]

sleepy:

We were debt free 6 years ago. Have to make do without fancy big house, expensive long haul trips, frequent meals at restaurants to reach our debt free target.


Now without any loan commitment, we can easily save > 50% of take home pay because we're still living beneath our means Somehow got used to being soooo thrifty so we find it hard to spend 'unnecessarily'.

wow, you are indeed amazing.. Even though we're relatively debt-free, we do not save much. I think the key is to \"get used to being thrifty\". Most people do not save much coz of unnecessary spending, like what you mentioned.