How much savings at what age??

[V_for_Vanilla]

nope. u are wrong. i dont need anyone to help clear my debts. instead, i wondering if i am considered "normal" or "average" in this modern context ?? 27 yo, female, 5 digit debts of uni sch fees and CC debts of 12k.. seems ok lehh??


u guys lehh? never say?? if dun wan say exact, maybe say rough gauge??

There is no rough gauge. It all depends on one's earning power and the lifestyle pursued. If your friends are also having rolling credit card debts of 10k and more, who am I to say it is abnormal. But from a financial prudence stand point, it is definitely unsound and a financial time bomb. Alarm bells should be ringing. When I was your age, my salary was $2k a month and I have zero rolling credit card debt. (Even now I still don't.) Piggy bank savings IIRC was about 20k. Yes I am a saver.

Edit: I am now curious. I wonder if this is normal amongst young working adults these days to have so much rolling credit card debt.

 

[OngHuatHuat]

I have 180 k cc debt now.

nope. u are wrong. i dont need anyone to help clear my debts. instead, i wondering if i am considered "normal" or "average" in this modern context ?? 27 yo, female, 5 digit debts of uni sch fees and CC debts of 12k.. seems ok lehh??


u guys lehh? never say?? if dun wan say exact, maybe say rough gauge??

 

[Happygirlzz]

Uh. sorry. I saw wrongly.

Then, I recommend you to immediately call the banks to transfer those credit card debts into loan facility with lower interest. Or find those promotional loan facility.. And stop using credit cards..

If you don't know how, then call credit counselling singapore for help.

yeahh, i have recently cancelled off my credit cards, as in the meantime i will be clearing the debts first, and also uni sch fees debts which needs to be repaid on time too..... hope to see my situation improving... its ok, see how things goes..

 

[Perisher]

I have 180 k cc debt now.

You sure ain't helping.

 

[Happygirlzz]

There is no rough gauge. It all depends on one's earning power and the lifestyle pursued. If your friends are also having rolling credit card debts of 10k and more, who am I to say it is abnormal. But from a financial prudence stand point, it is definitely unsound and a financial time bomb. Alarm bells should be ringing. When I was your age, my salary was $2k a month and I have zero rolling credit card debt. (Even now I still don't.) Piggy bank savings IIRC was about 20k. Yes I am a saver.

Edit: I am now curious. I wonder if this is normal amongst young working adults these days to have so much rolling credit card debt.

i see... i think its normal leh... u see other people post comments, some have 180cc debts..i seemy friends also have 6 digit cc debts... some 5 digits cc debts like me..



edit: i am also curious, is it normal for u to have 20k savings combining everything together from various banks(e.g ocbc, maybank, cimb, dbs) at ur age? u 31 year old right?

 

[Perisher]

nope. u are wrong. i dont need anyone to help clear my debts. instead, i wondering if i am considered "normal" or "average" in this modern context ?? 27 yo, female, 5 digit debts of uni sch fees and CC debts of 12k.. seems ok lehh??


u guys lehh? never say?? if dun wan say exact, maybe say rough gauge??

Give you a rough gauge already. The people here mostly have 5-6 digits, some even 7 digit networth. Mostly 30+/-. Most of them don't have any sort of debt bar housing debt.

 

[Happygirlzz]

I have 180 k cc debt now.

wah!!! 180cc debts? sure or nt? i 12k cc debts, alr like stress.. u 180k cc debts? like how?!?!

 

[OngHuatHuat]

wah!!! 180cc debts? sure or nt? i 12k cc debts, alr like stress.. u 180k cc debts? like how?!?!

Dunno how also.

i still able to sleep well every night though.

 

[Happygirlzz]

Give you a rough gauge already. The people here mostly have 5-6 digits, some even 7 digit networth. Mostly 30+/-. Most of them don't have any sort of debt bar housing debt.

wah.. the gauge really very big/wide.. from 5 digit, to 6 digit, to 7 digit... hahahahhaa.. but its ok lar.. at least hv wide rough gauge..

 

[OngHuatHuat]

wah.. the gauge really very big/wide.. from 5 digit, to 6 digit, to 7 digit... hahahahhaa.. but its ok lar.. at least hv wide rough gauge..

you one year smaller than my younger sister.
you 1989?

 

[Happygirlzz]

Dunno how also.

i still able to sleep well every night though.

must be ur parents pay lor... if not u trolling...??

 

[OngHuatHuat]

must be ur parents pay lor... if not u trolling...??

people in this forum know i always speak truth, i said it is 180k means it is 180 k not 170 k or 190 K.

 

[Happygirlzz]

you one year smaller than my younger sister.
you 1989?

ya.. 1989... 27 yo this year... female..


u leh?? 180k cc debt at wat age? lol. then no savings? SURE or not de? dont joke leh..

 

[OngHuatHuat]

ya.. 1989... 27 yo this year... female..


u leh?? 180k cc debt at wat age? lol. then no savings? SURE or not de? dont joke leh..

1985, male.

savings not sure how much. hee hee.
How you count savings?

 

[Happygirlzz]

people in this forum know i always speak truth, i said it is 180k means it is 180 k not 170 k or 190 K.

ok, then u must be from rich family... tts why every nite able slp v well despite 180k cc debt.. i diff.. hahaha...12k cc debt i alr headache everyday..then u no savings la? i got, 70 bucks, for my expenses... zzz

 

[Happygirlzz]

1985, male.

savings not sure how much. hee hee.
How you count savings?

savings count by combining everything from various banks, e.g savings account, fixed dep, structured dep, and stocks n shares, investment etc lor..

 

[OngHuatHuat]

savings count by combining everything from various banks, e.g savings account, fixed dep, structured dep, and stocks n shares, investment etc lor..

if i say close to 1 M net after deducting my debt, you believe me or not?

 

[luvalist]

if i say close to 1 M net after deducting my debt, you believe me or not?

lol. different league ah bro. u are highly supported with backing...

 

[V_for_Vanilla]

i see... i think its normal leh... u see other people post comments, some have 180cc debts..i seemy friends also have 6 digit cc debts... some 5 digits cc debts like me..

The word is "rolling". Credit card debt on its own does not say much. Rolling credit card debt obviously is a problem.

edit: i am also curious, is it normal for u to have 20k savings combining everything together from various banks(e.g ocbc, maybank, cimb, dbs) at ur age? u 31 year old right?

I meant when I was at your age (27). Is 20k savings normal? I don't know. I just wanted to save as much as possible and plow them into investments. I am in my 40s now.

 

[V_for_Vanilla]

savings count by combining everything from various banks, e.g savings account, fixed dep, structured dep, and stocks n shares, investment etc lor..

Only the two bolded can be considered savings. The rest are not.