More young people getting into debt problems
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Earned $2000-2500, after cpf is $2000 or less.Originally posted by Marco_Simone:Earn $2000-2500 and yet owns a car just to sian gals-this kind mosy jia lat...
After paying for car expenses is $1000 or less
Must look at his disposable income
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Today, Straits Times reported that minimum income to own a credit card will be reduced from $30000 to $18000. Luckily, policy still not approved yet.
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Actually, If no family to support.. Earn about $2000 can let you drive a cool car to sian girls
*cough*bigbrotherdrivesevo*cough*
FOR ME!! I USE BICYCLE!
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No, I think these credit card application requirements are getting dangersouly low!
Even for myself, I find shopping with credit card dangerous - I tend to overspend and shout; "What??? Did I buy this?? ... oh I did??"
It's just so easy to overlook one's limit when using credit (this is where wives mostly comes in handy... heheheee..).
My wife will go; "Oi! Ai si ah! Just now buy such a big item, now want to buy this?! NO!!!" -
That day I was using my credit card, and I didn't sign the back of it coz its new. The cashier saw it and never bothered to ask where my signature was.
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Not approved yet. Hopefully, MAS don't nod head.Originally posted by ShutterBug:No, I think these credit card application requirements are getting dangersouly low!
Even for myself, I find shopping with credit card dangerous - I tend to overspend and shout; "What??? Did I buy this?? ... oh I did??"
It's just so easy to overlook one's limit when using credit (this is where wives mostly comes in handy... heheheee..).
My wife will go; "Oi! Ai si ah! Just now buy such a big item, now want to buy this?! NO!!!" -
banks credit cards no business or spenders getting wiser and controlled their spending. SO they need more new foolish subsribers.
lets see how MAS give in to local banks. -
Can't even use my debit card.
No money in my savings account. -
I think the reason is because SingPost started to loan money to lower income group. And the banks dun want to lose out on this group of ppl to the garment.
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You know how far this country has come when even the post office wants to lend money and charge interest.Originally posted by SnowFlag:I think the reason is because SingPost started to loan money to lower income group. And the banks dun want to lose out on this group of ppl to the garment. -
more ppl will face this problems if MAS approved the application by banks to lower the annual salary to $18,000
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also into pawning businessOriginally posted by charlize:You know how far this country has come when even the post office wants to lend money and charge interest. -
it says one thing in this country. loaning money and charging high interest is the way to go. only banks and post office and pawn shops allow to do it. the banks will soon pressurize the gov to approve everyone to have a credit card.
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Though I can apply for credit card,I stick to my good old debit card.
Somemore credit card annual fees more expensive. -
nobody pays annual fees. it is for show only.Originally posted by Marco_Simone:Though I can apply for credit card,I stick to my good old debit card.
Somemore credit card annual fees more expensive. -
Originally posted by LinYu:more ppl will face this problems if MAS approved the application by banks to lower the annual salary to $18,000
18K!! WTF 
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More people in debt, less people to disturb the government on what freedom of speech and expression and all that liberty shit.
Get it? -
more people in debt, the happier the gov, they would have to work double hard and no time to complain.
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Like that also can? Government clever sia. We bankrupt Salman first. Then see his reaction.Originally posted by charlize:More people in debt, less people to disturb the government on what freedom of speech and expression and all that liberty shit.
Get it? -
Like that also got.Originally posted by AF2005:more people in debt, the happier the gov, they would have to work double hard and no time to complain.
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The fact is that new gen Singaporean are more sophiscated. I personally witness a larger percentage of these young Singaporeans are involved in playing warrants and options. They think that the stock is too slow moving for them to achieve the first barrel of gold before they turned 30s.
Simply put it in this way, nowadays, there are alot of wonderful stories of getting rich and retire young. These concepts fit the Singapore dream perfectly. Most of these youngsters are fresh from Universities and well read many theroms in "predicting" the stock market movements.
Just few desks away from me, the young chap is playing the Hang Sheng Indexes right now. Most of these youngsters love to do margin trading. -
when something big like SARS or 911 hits then they will back to reality.