Spending more than what one earns – how young Singaporeans end up in debt

[Narong Wongwan]

half a million

No need la 300k can get you a charbor boxster liao

 

[Narong Wongwan]

Yes very true 工字不出头 unless you are 工人皇帝

Want to get rich either do business or invest your money.

in this age and time, throw the notion of hard work out of the window. thats why the government wants you to do, stand in line, shoulder the yoke and till the fields.

work smart, invest your money. start investment young and demand your money to give you returns.

check the job markets constantly and jump if there is a better opportunity. check out business opportunities. one will neber get rich being an employee. unless you r PAP.

 

[Jlokta]

How can that be? Singaporeans are rich, right? I see so many Iphones everywhere I go.

maid also using iphone, doesn't mean they are rich.

 

[cunnilaubu]

Don't talk cock hor newbei, we work damn hard here hor. Don't talk until like we damn relak one corner hor.

Sinkies, please don't come here. Thailand very jialat ok: drinks are cheap so drink too much ; food is cheap so eat too much ; massages are too addictive so massage too much ; land is big so go holiday too much ; life is slow so relak too much ; government don't take care so all money earned I get 100% never save in any government scheme don't know what to do with so much money so sinkies please listen, don't come here its hell please believe me.

Wah.... so jialat? Can advise how to migrate there please?

 

[cunnilaubu]

Yes very true 工字不出头 unless you are 工人皇帝

工人黨 leh.....?

 

[Jlokta]

Wah.... so jialat? Can advise how to migrate there please?

like in all countries, must first pay homage to the '地头蛇' first.

if you're thinking of BKK, must make sure you meetup with joetys; and if at sin city CBFC.

this is to ensure safe, smooth passage

 

[Jumong]

Don't talk cock hor newbei, we work damn hard here hor. Don't talk until like we damn relak one corner hor.

Bro, I know you're joking (bantering) as you knew where my message was coming from, but someone took you very seriously and zapped me on your behalf leh. I think you have a fan club liao

 

[drifter]

2.5 million is a comfortable amount. It yields about $10,000 per month at 5%.

yes when im old and useless 10k sin is a comfortable amount ( provided i pay all my houses loan ) ...but now im still young with so many hobbies and lifestyles ...10k is not even enough for me and my wife for 2 weeks .

 

[Cruxx]

maid also using iphone, doesn't mean they are rich.

But that's what many Sinkies think. That a cuntry's wealth can be inferred from the prevalence of iphones

 

[drifter]

Because I've put the sum in a family trust and structured it to be "tax efficient" [a term in vogue nowadays in NZ], I'm paying about 8% in taxes on that sum.

All these sorts of details are taken care of by qualified accountants. I encourage everyone to use the services of professionals. The right ones save you far more than you have to pay them.

i agree with you that its better to hire the service of qualified accountants ...just tell them how much you want to pay to the goverment and let them work out for you ..

 

[Cestbon]

Must thanks to Y-gen. They help the economy. Spend spend spend business good for every one.
Retail,F&B, car, renovation,..............................
No need to teach them. Talk too much to them they will hate u like enemy. Just keep quite let them decide their own life. Even if they bankrupt u all also will not help them right.

 

[sleaguepunter]

it is due to these xiao langs that keep the $$ flowing. if everyone like me, singapore will become japan, deflation all the way.

 

[Leongsam]

yes when im old and useless 10k sin is a comfortable amount ( provided i pay all my houses loan ) ...but now im still young with so many hobbies and lifestyles ...10k is not even enough for me and my wife for 2 weeks .

My routine expenses including eating out, insurance premiums, all utility bills, vehicle maintenance, licenses, council rates, hobby overheads, boat maintenance, home maintenance etc comes up to about NZD7000. I draw out what I need and let the rest roll over to compound.

 

[drifter]

My routine expenses including eating out, insurance premiums, all utility bills, vehicle maintenance, licenses, council rates, hobby overheads, boat maintenance, home maintenance etc comes up to about NZD7000. I draw out what I need and let the rest roll over to compound.

i dont buy insurance ...call me old thinking if you wish ...thats why i needed cold hard cash for my future . by the way , your wife working ? mine never work .. so, i needed more money badly then you .

 

[erection2015]

as for me....i steal more than what i need and hide the rest all over my compound

My routine expenses including eating out, insurance premiums, all utility bills, vehicle maintenance, licenses, council rates, hobby overheads, boat maintenance, home maintenance etc comes up to about NZD7000. I draw out what I need and let the rest roll over to compound.

 

[Ash007]

You should really consider getting insurance. I know its a "taboo" in asian culture not to think of bad things happening. But, it will come in handy when you really needs it. It would also help you out if you fall under bad circumstances. Protect you from unexpected things.

i dont buy insurance ...call me old thinking if you wish ...thats why i needed cold hard cash for my future . by the way , your wife working ? mine never work .. so, i needed more money badly then you .

 

[drifter]

You should really consider getting insurance. I know its a "taboo" in asian culture not to think of bad things happening. But, it will come in handy when you really needs it. It would also help you out if you fall under bad circumstances. Protect you from unexpected things.

bro...i never think of so call taboo ..and i dont believe in that . just that i dont believe in insurance ...you can call me stupid bro .

 

[Ash007]

No, not saying you are stupid. But trying to convince you that insurance are worthwhile. I'll give you an example, I had an operation last year. Total cost comes in to close to 30K including physio, rehabilation, etc. I paid in total out of pocket maybe $10K. I would have to fork out close to $20K if I don't have private insurance. Alternatively, if I had chosen to stick to the public system, I might have to wait 5-6 years before they will do the operation on me. Its just a simple example, you don't know when things would change or happen to you. Insurance are just a tool to protect you financially against events like these. Mind you, I had the $$ to pay upfront fully if I wanted to, but the $$ saved and the medical leave I can take from work helped out. Imagine if you needed a longer period to get back on your feet?

bro...i never think of so call taboo ..and i dont believe in that . just that i dont believe in insurance ...you can call me stupid bro .

 

[Leongsam]

i dont buy insurance ...call me old thinking if you wish ...thats why i needed cold hard cash for my future . by the way , your wife working ? mine never work .. so, i needed more money badly then you .

I don't have any life insurance. The premiums I pay are for medical expenses, home and content, car and boat and some of my camera gear.

I've added up all my insurance claims and I'm actually ahead of the curve. The most common claims are medical matters.. eg surgical procedures plus the usual specialist consultations that are required from time to time. If I have a massive heart attack tomorrow that costs $250,000 to fix, it will all be taken care of.

Home insurance usually involves fixing bits and pieces of the house after a severe storm.. eg lifted roof tiles, smashed fences from falling branches etc.

 

[Leongsam]

bro...i never think of so call taboo ..and i dont believe in that . just that i dont believe in insurance ...you can call me stupid bro .

If you're very wealthy, you don't need insurance. The Larry Elisons and Bill Gates of the world aren't going to bother paying premiums. They have more investible funds than most insurance companies.