Originally posted by rumie:
after settling my Uni study loan and some other loan every month, i'm down to about $300plus from my salary. and this excludes daily expenditure like meals, etc etc...
let's face it, $300plus per month for expenditure is just sufficient. but my question here is, how do i still save up every month?
just in case you start saying i can save about $100 from the $300 if i cut down a bit, i just want to point out that, NO, it's not possible.
SO, i was thinking: Apply credit card so that i can charge my expenditure to it, pay the monthly minimum (of about $50-$80), so that i can have a bit of savings.
Savings = $300 i'm left with every month - credit card min. monthly repayment.
this sounds stupid, i guess, but i really need to save up. i feel it's better than using up all the $300 i have left with at the end of the month and realised at the end of it i've no savings, and this stupid cycle will go on every single month, right?
and as long as i don't touch my savings, the amount of savings that i have will be equal to the credit i've owe the bank as long as i don't over abuse my credit card, right? so just in case anything happens, i can just use my savings to repay all the credit card loan, right?
so many questions here and please, i need proper answers. scold me of being stupid, but do tell me where i've gone wrong...
Last question, is this the lifestyle people in singapore are having, or am i the only few who's going into a credit card debt?
After reading through all these.. I think I don't have to point out much too? $300 and no savings...? At least you're not a dead fish? Once you're dead, you're DEAD..... Go around and ask people who are or had been in serious DEBTS with credit cards or financial supports before... They'll tell you... But at least some of them are with better reasons? Your 'plan'...? Err....
