Singaporeans should live within their means
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I REFER to the letter, 'Govt should relook income qualifying levels' (ST, Oct 7), and the writer's reason for buying a private property and not having children.
My husband and I have two young children and are totally debt-free. Even though we each hold a master's degree, I chose to be a stay-at-home mum to nurture our children. Despite surviving on a single income, we are debt-free.
We have paid fully for our home and car. We give our children a good standard of living and education. We support aged parents. We also set aside enough for rainy days and are saving diligently for our retirement.
The key to financial freedom is to live beneath your means.
We could have bought a private apartment with a loan but we chose to live in a five-room resale flat, paid for with our CPF.
We could have bought a BMW with a loan but we chose to buy a Toyota, paid for in cash.
The interest savings from being debt-free could be used to support one's aged parents and young children.
Subsidies should be channelled to people whose needs are greater than ours.
Allison Yeo Li Hwa (Ms)
(Straits Times 13 Oct) -
A very wise way of spending money.
My admiration for this fella! *salutes*
Living within one's means is way better than owning luxuries with plenty of debts.
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Did the responding writer that was quoted above - a Ms Allison Yeo Li Hwa - missed the essence of the article ''Govt should relook income qualifying levels' (ST, Oct 7), and the writer's reason for buying a private property and not having children." ?
Surely, the originating writer was requesting for the Government to 'relook income qualifying levels' - so as to allow Singaporeans who are higher income earners to 'live below their means'; such as to allow the higher income earners to qualify to buy an HDB flat instead of buying a private appartment - as was practised by Ms Allison Yeo.
Is 'debt free' the best option to move ahead ?
Is it financially prudent to plan for cash being expended against all other considerations, and remain debt free ?
There remains the element of opportunity costs, when the cash element could have fetched a higher return from some investments, that will be sufficient to cover the long term interests of some loans taken.
It is not merely a matter for Singaporeans to live within their means, but to make sound plans of all their activities - financial, social, family, and career. -
My God!!
This is the wrong issue of the artical!!!
0 mark 4 this thread!!!!
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I am happy for both of you but not everyone got the intelligence nor the cash to get a masters degree like you two without getting a loan. So don't go around bragging. Even if you have to scrimp and scrap the bottom of dustbins to have a decent meal while going through your so called MBAs, I am sure you got a helping hand somewhere along the way. So don't be smug.Originally posted by oxford mushroom:I REFER to the letter, 'Govt should relook income qualifying levels' (ST, Oct 7), and the writer's reason for buying a private property and not having children.
My husband and I have two young children and are totally debt-free. Even though we each hold a master's degree, I chose to be a stay-at-home mum to nurture our children. Despite surviving on a single income, we are debt-free.
We have paid fully for our home and car. We give our children a good standard of living and education. We support aged parents. We also set aside enough for rainy days and are saving diligently for our retirement.
The key to financial freedom is to live beneath your means.
We could have bought a private apartment with a loan but we chose to live in a five-room resale flat, paid for with our CPF.
We could have bought a BMW with a loan but we chose to buy a Toyota, paid for in cash.
The interest savings from being debt-free could be used to support one's aged parents and young children.
Subsidies should be channelled to people whose needs are greater than ours.
Allison Yeo Li Hwa (Ms)
(Straits Times 13 Oct) -
Whats wrong with having a beemer??
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You know, there are people out there, who are making so much money, they own and drive more than 2 branded cars, live luxuriously but are staying in a 3 room flat.
These people are making 'invisible money' - money the gov doesn't know about.
And I think these are the people, most people should become like. -
hw to become like this?Originally posted by ShutterBug:You know, there are people out there, who are making so much money, they own and drive more than 2 branded cars, live luxuriously but are staying in a 3 room flat.
These people are making 'invisible money' - money the gov doesn't know about.
And I think these are the people, most people should become like. -
I think this letter is dumb.
Clearly, both of them belong to the above average income bracket, and are crowing about living a life which most others try to achieve comfortably.
Throw the husband an average earning $2000-$2500 job and we'll see if they live a debt free life, or if they will sink into debt paying for their HDB like most of us.
There aren't enough people with common sense in this world. -
Maybe they think the average Singaporean household has at least one person holding a Masters degree.Originally posted by nomood:I think this letter is dumb.
Clearly, both of them belong to the above average income bracket, and are crowing about living a life which most others try to achieve comfortably.
Throw the husband an average earning $2000-$2500 job and we'll see if they live a debt free life, or if they will sink into debt paying for their HDB like most of us.
There aren't enough people with common sense in this world.
Just maybe. -
she stays at home and they survive on a single income.
they own a 5 room resale flat.
they have 2 young children.
they own a car.
AND THEY ARE DEBT-FREE!!!!!???
how much is the husband earning a month? -
master's degree earn how much? did she work b4 they got married n have childrens? dun tell me no lor, study until masters den dun work
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Hey, nothing wrong with having rich parents right?
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if she said "even though we hold a diploma", mayb the letter would b more understandable, but masters
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So....I wonder .....How and what are the amount of monthly expenses of our world class mini-stars...
I wish they could declare all expenses from toilet rolls, food, garments, bills, transportation, households, etc... and right to their Palaces that they are lving in.....
Of course....the declarations must be separated whether is personal or official.
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If you have a diploma or less, would you have time to write these kind of "I am better than the rest of you people" letters to the forum?Originally posted by RaTtY8l:if she said "even though we hold a diploma", mayb the letter would b more understandable, but masters
Would you? -
now to apply for HDB loan, u must have the Certificate to prove u can repay your loan before u can get the loan... like a formal way to check on you first to see if u can afford or not...
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If I were to be like them...I would have migrated to Australia leow...Originally posted by highway69:I am happy for both of you but not everyone got the intelligence nor the cash to get a masters degree like you two without getting a loan. So don't go around bragging. Even if you have to scrimp and scrap the bottom of dustbins to have a decent meal while going through your so called MBAs, I am sure you got a helping hand somewhere along the way. So don't be smug. -
CB, now buy anything also need to get a COE.Originally posted by sgboy2004:now to apply for HDB loan, u must have the Certificate to prove u can repay your loan before u can get the loan... like a formal way to check on you first to see if u can afford or not... -
chant manimanihom 5000 times everyday.Originally posted by shinta:hw to become like this? -
I guess that her intention to remind every one that living within their means is possible.
At the same time, she, just like a typical Singaporean, trying to show off her paper qualification (got IQ, no EQ) and she is a tai tai.
However, it serve no purpose as her case could be a isolated case where she have stacked up enough saving or investment in the past. -
You mean bookies? ahahaOriginally posted by ShutterBug:You know, there are people out there, who are making so much money, they own and drive more than 2 branded cars, live luxuriously but are staying in a 3 room flat.
These people are making 'invisible money' - money the gov doesn't know about.
And I think these are the people, most people should become like. -
Too many Singaporeans are aspiring to a lifestyle out of keep with their financial situation. The writers are Masters holders and could probably afford a BMW and private property if they would take a loan. But they chose not to be in debt at all.
The point is that there are those with less qualifications who earn half as much who would overstretch themselves for an expensive car or private property.
Live within your means! Take public bus instead of buying a car and rent a flat or buy a smaller HDB flat instead of private property. -
Ever tried living in a 1 room flat with 5 people in it?Originally posted by oxford mushroom:Too many Singaporeans are aspiring to a lifestyle out of keep with their financial situation. The writers are Masters holders and could probably afford a BMW and private property if they would take a loan. But they chose not to be in debt at all.
The point is that there are those with less qualifications who earn half as much who would overstretch themselves for an expensive car or private property.
Live within your means! Take public bus instead of buying a car and rent a flat or buy a smaller HDB flat instead of private property. -
the letter has a typical sporean style of writing (or speaking for the matter)....
even if her intent is good, she cannot help herself and added the `prizes' she acquired or could acquire along the way; MBA's, BMWs...etc....
what's wrong with `we could acquire a bigger car but opted for a smaller one, paying in cash'...or `we are both educated with high employability...", etc.?
her intent is to push home the point of being savvy with money, not her background. being savvy with money unfortunately has got nothing to do with how much education u have. it's common sense. it is the malaise that the gahmen has inculcated in sgporean minds that is causing the issue today.
i dun know if u notice, but speaking with some colleagues here, they will say, "wait, let me drive my beemer over" instead of `car'. or conversations with long lost frens who r keen to know where u live and what car u drive now...
we are so friggingly brainwashed into going for aspirational material thing that i shudder to think what our future generations will become.
younger kids hv mobile now, but that's not it. it's what mobile they have is what matters....which destination of hols u take, further the better, got snow will score more muffin points....
even if we meant well, we cannot help but add a touch of material bull$hit along the way to push home a personal point that they belongs to the `haves' and it's just that they r not flaunting it...and just how pathetic is that?