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Young sinkie couple pok gai after $110k "dream" wedding

Discussion in 'The Courtyard Café' started by Rogue Trader, Jan 6, 2014.

  1. Rogue Trader

    Rogue Trader Alfrescian (Inf)

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    Mon, Jan 06, 2014
    MyPaper

    Dream $110k wedding ends in debt
    by Maureen Koh

    [​IMG]


    SINGAPORE - All this couple wanted to do was to indulge their desire for a dream wedding.

    After all, you get married only once in this lifetime, said Mr Cayden Lee.

    But that indulgence proved to be costly for them. The 32-year-old insurance agent is still mired in the debt he incurred in October 2012.

    He told The New Paper on Sunday: "This is the real regret. We struggle from month to month just to make ends meet."

    The couple borrowed $45,000 from a financial institution with a repayment period of two years. They also borrowed $4,000 from a licensed moneylender and $11,000 from a relative. On top of that, they pumped in their entire savings of $20,000.

    They also charged to their individual credit cards, said his wife, who wants to be known only as Mrs Lee. She estimates the charges were another $30,000.

    The total sum? $110,000.

    Said the housewife: "When we first did our calculations, we were confident that we could afford it.

    "We gave ourselves a year or two, at the maximum, to work things out."

    But what Mrs Lee, 28, did not count on was losing sleep over hounding debt collectors.

    She slipped into depression about six months after her wedding, and finally quit her job as an insurance agent.

    Her whims, she said, included having a bridal arch made with 999 fresh tulips from Holland, completed with a tulip-shaped balloon, for their wedding march-in. The arch cost nearly $12,000.

    The wedding banquet was held at a six-star hotel in the Marina Bay area, with each of the 45 tables costing $1,688++.


    Other costs included their bridal photography, make-up, hair-styling and videography.

    They spent so much that Mrs Lee's other dream - a honeymoon in Europe - had to be put off. She said: "We ended up going to Genting Highlands for five days instead.

    Mr Lee felt that they neglected to consider one important factor - that his relatives were not "high-class or rich folk".

    "Our relatives are mostly ordinary people, not highly educated, and I think that is also why the hongbao collected eventually did not cover some of the table costs," he said.

    To break even, the couple had to collect $200 from each guest, added Mrs Lee.

    Trying to clear the debts has put a strain on the marriage and their relationship, Mr Lee said. "I think we have had more fights since we got married than in the six years that we were dating.

    "Most times, it was over money...and we'd end up blaming each other for the situation."

    The couple have made lifestyle changes to ease the strain on the pocket. He said: "We spend most of our time watching television at home, or going to the nearby park for our regular jogs."

    But the lesson is one that both have committed to memory, so much so that they took the trouble to sit a mutual friend's daughter down for a talk.

    Mrs Lee said: "She was planning a lavish wedding in Sentosa, and wanted to include fireworks, among other things. And the couple were intending to get a few loans from their family and friends.

    "I told them: 'Look at me, I went down the path like a fool and I am still paying for the expensive lesson. Why walk down the same road as us?'"


    [email protected]

    This article by The New Paper was published in MyPaper, a free, bilingual newspaper published by Singapore Press Holdings.



    [​IMG]
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  2. AhMeng

    AhMeng Alfrescian (Inf- Comp)

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    really gongcheebyes....they deserve to be in debt...:D
     
  3. laksaboy

    laksaboy Alfrescian (Inf)

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    Take note that it's always the women who fantasize about their 'big day', having a dream wedding so they can be a princess for a day.
    The men are not particularly besotted about the event, they just go along with their missus' wishes.

    Usually the men succumb to their whims and pay for the whole thing. :rolleyes:

    There's a reason why publishers constantly make bridal magazines.
    (Hint: it's not for men).


    [​IMG]
     
  4. LeMans2011

    LeMans2011 Alfrescian Old Timer

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    Dumbfucks! Who says marriage is only once in a lifetime???
    The only thing that is once in a lifetime is death. You cannot die twice but you can get married as many times as you wish.
     
    Last edited: Jan 6, 2014
    1 person likes this.
  5. potter

    potter Alfrescian Old Timer

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    Do u trust e insurance agent now?:rolleyes:
     
  6. hokkien

    hokkien Alfrescian (Inf)

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    A night of celebration in return...years of nightmare:D
     
  7. chonburifc

    chonburifc Alfrescian (Inf)

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    Respect, respect. KNN, total combined savings of 20K, yet want to tua kang?! clap clap. So they borrowed total of 90K for 1 night of tua kang?

    Respect respect. Will be better if 154 post pics of this couple.
     
  8. nutbush

    nutbush Alfrescian Old Timer

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    Why do couples still believe in marriage? All i have to do is ring my fuck buddy if i need it...;)
     
  9. Fatboy

    Fatboy Alfrescian Old Timer

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    Insurance agent who doesn't know how to calculate present and future value of money, PMT... etc should have his licence be revoke.
     
  10. griffin

    griffin Alfrescian Old Timer

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    Moronic couple. Now blame relatives for not giving them enough angpow. No money why throw expensive wedding dinner. If no money hold the wedding at a community centre or under a HDB void deck. My nephew and his wife held a simple wedding reception in their new HDB unit. Only about 30 close relatives and friends were invited. After the reception they went on a honeymoon trip to Europe. Learn to live simple and keep out ahlongs.
     
  11. kohpc

    kohpc Alfrescian Old Timer

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    Your fb is on this forum?
     
  12. Asterix

    Asterix Alfrescian (Inf)

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    Which means people should save all their money for a grand funeral?

    not to be taken seriously of course
     
  13. kohpc

    kohpc Alfrescian Old Timer

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    They should have recognised the signals already from the amounts borrowed. Its just poor financial awareness and management.
     
  14. AhMeng

    AhMeng Alfrescian (Inf- Comp)

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    2 idiots...their kids will turn out like the same... :D
     
  15. bushtucker

    bushtucker Alfrescian (Inf)

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    obviously this "man" in the article does not know how to control his wife.

    best case scenario: they work hard to pay off all their debts.

    worst case scenario: wife divorces him and leaves him for a richer man / golden turtle / money tree.

    :D
     
    Last edited: Jan 6, 2014
  16. bushtucker

    bushtucker Alfrescian (Inf)

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    although most divorce cases always cite "irreconcilable differences" as the reason, we all know that money (or lack of it) is the root cause.
     
  17. AhMeng

    AhMeng Alfrescian (Inf- Comp)

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    likely the latter :D
     
  18. AhMeng

    AhMeng Alfrescian (Inf- Comp)

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    or make the wife become a prostitute to service the debts :D
     
  19. tridome

    tridome Alfrescian Old Timer

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    Gong cheebye no money still want to have dream wedding.
     
  20. Raiders

    Raiders Alfrescian (InfP) + Mod Old Timer

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    His FB moniker starts and ends with a T ;)
     
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