Some SG folks look rich but owe the bank a lot. Singapore debt levels 'among highest in Asia'
Some SG folks look rich but owe the bank a lot. Singapore debt levels 'among highest in Asia'
we are already in debt as soon as we graduated from school. Have to repay poly loan and uni loan, it quite impossible to be debt free in this time and age. Even want to have a HDB house also have to repay debt till 50 years old.
we are already in debt as soon as we graduated from school. Have to repay poly loan and uni loan, it quite impossible to be debt free in this time and age. Even want to have a HDB house also have to repay debt till 50 years old.
As for HDB... its a necessary debt...
With current income vs HDB price ratio, I guess so.
My FIL, now retired, but last time worked as gardener, can fully paid his 4-room HDB. Me? I doubt so.
You'll be surprise... I also never thought it was possible for me to repay my loan (hopefully) in less than 20yrs... but it did happened... I don't earn alot as a Public Transportation Sector worker... but I don't spent what little I already have on things like Car or Motorcycle... don't even have license for it... the amount saved is incredible...
Btw... I took a 30yr loan from HDB... did a one time top up recently and cut my remaining loan time from 16yrs 2mth to 4yrs 4mths... but I should be able to finish it in 2yrs time... so, took me less than 20yrs to settle my loan... I'll be in my very early 40s... :bsmilie:
Struck lottery?
Word of advise... the interest rate for my 30yrs loan is really punishing... I may be paying very low monthly installments (low $400+) a month... but I only found out that they are charging me almost $2000 ($1970) a year...
I loan only about $90K++... but at $2K a year for 30 years... that's almost $60K !! 2/3 of my loan is returned as interest !!
Word of advise... the interest rate for my 30yrs loan is really punishing... I may be paying very low monthly installments (low $400+) a month... but I only found out that they are charging me almost $2000 ($1970) a year...
I loan only about $90K++... but at $2K a year for 30 years... that's almost $60K !! 2/3 of my loan is returned as interest !!
I loan only about $90K++... but at $2K a year for 30 years... that's almost $60K !! 2/3 of my loan is returned as interest !!
From the day we're born we're being instilled with:
"Greed is good.
Debt is devine."