I am an average sinkie. I don't own a car. HDB fully paid. I don't have credit cards. I have cash and I am happy. Cos I am debt free.

[VEF888]

Credit card can use for investment De woh.. Tiagong can have installment as well

yeah can overdraft and use it as a loan facility but no one will force you if you don’t use that, just use them for the discount benefits mah.

 

[Staid4]

The amount u spend is the cost it takes to give u peace of mind. Spend more means got more issues. If u have to spend 5k to get what costs others only 50, then u got issues and are inefficient. If u can get high on $70 durian, why need to buy $170 durian?

Wisdom.

 

[archon75@]

yeah can overdraft and use it as a loan facility but no one will force you if you don’t use that, just use them for the discount benefits mah.

Zero % interest for 6-12mth installment

 

[disavowed]

You come into this world with debt
to your parent

It is actually the opposite, parents owe their children a quality upbringing as they chose to have children

 

[alex22]

Retirement for edmw is 2 piece of loti in morning, followed by cai png lunch n dinner

Mid day just hang out at void deck or library foc

To them they enjoyed life to fullest

Tiagong xmm hear this panty wet liao

 

[thretiredDad]

It is actually the opposite, parents owe their children a quality upbringing as they chose to have children

I give my children a quality upbringing
to give them a thicker and deeper debt
so that they will take care of me when I’m old

 

[fatboi666]

jin satki mens. moi no income so cannot do better

 

[Discarded]

I laughed at how naive the guy is. I am also an average sinkie.

I have credit cards but I have self-control. I don't buy anything fancy most of the time. Mostly for family expenses and get rebates of about $50 a month for it.

I own a fully paid car, though costly, but important to fetch my family around.

I bought a HDB, but I took out the longest loan possible. I can actually pay up the HDB but chose not to. I rent out the HDB and use the rental to cover the loan.

I kept my cash for investments, if not, on the way to getting a condo.


KEY IS SELF-CONTROL. DEBT IS NOT SCARY, IT IS SCARY WHEN THE BANK DOESN'T WANT TO LOAN YOU ANYTHING. WHEN YOU HAVE MONEY, THE BANK WILL KEEP ASKING U TO TAKE MORE LOAN.

 

[thretiredDad]

Tiagong xmm hear this panty wet liao

Xmm heard can go bbfa house watch Netflix
Wet liaoo

 

[thretiredDad]

I laughed at how naive the guy is. I am also an average sinkie.

I have credit cards but I have self-control. I don't buy anything fancy most of the time. Mostly for family expenses and get rebates of about $50 a month for it.

I own a fully paid car, though costly, but important to fetch my family around.

I bought a HDB, but I took out the longest loan possible. I can actually pay up the HDB but chose not to. I rent out the HDB and use the rental to cover the loan.

I kept my cash for investments, if not, on the way to getting a condo.


KEY IS SELF-CONTROL. DEBT IS NOT SCARY, IT IS SCARY WHEN THE BANK DOESN'T WANT TO LOAN YOU ANYTHING. WHEN YOU HAVE MONEY, THE BANK WILL KEEP ASKING U TO TAKE MORE LOAN.

True, I love my Uob one card
cash rebate so much
best card

 

[KnyghtRyder]

Is he EDMW role model?

if truly happy he wouldn't need to post about how happy he is.

 

[Staid4]

The big problem with people is,

They use 20s, 30s, 40s' mindset to think of retirement in their 60s and 70s.

What make you all think you still want to find chicken, travel, eat ATAS $100 per meal food in your 60s and 70s?

Spend enough time with old people and you'd understand most of these things doesn't matter anymore at their stage.

By this age you have already screwed enough, ate more good food than ever and been to places you wanted to.

Even if you want to, your body can't take it anymore. That kind of food will kill you faster in your 60s and 70s and when your tastebud wane... you can't even taste the difference from $100 food and $1.00 bread.

This is the reason why most old people doesn't actually spend that much, lesser than what we youngsters are made to believe.

 

[disavowed]

I give my children a quality upbringing
to give them a thicker and deeper debt
so that they will take care of me when I’m old

Give them thicker and deeper debt?

 

[disavowed]

The big problem with people is,

They use 20s, 30s, 40s' mindset to think of retirement in their 60s and 70s.

What make you all think you still want to find chicken, travel, eat ATAS $100 per meal food in your 60s and 70s?

Spend enough time with old people and you'd understand most of these things doesn't matter anymore at their stage.

By this age you have already screwed enough, ate more good food than ever and been to places you wanted to.

Even if you want to, your body can't take it anymore. That kind of food will kill you faster in your 60s and 70s and when your tastebud wane... you can't even taste the difference from $100 food and $1.00 bread.

This is the reason why most old people doesn't actually spend that much, lesser than what we youngsters are made to believe.

Yes but medical expenses will likely increase so the total spending might maintain or even increase

 

[Staid4]

Yes but medical expenses will likely increase so the total spending might maintain or even increase

you do realize if an illness is big enough... even with 1million cash you have, it will be wiped out as fast as in a couple of months right?

 

[disavowed]

you do realize if an illness is big enough... even with 1million cash you have, it will be wiped out as fast as in a couple of months right?

There is such a thing as insurance....and the premiums increases as one ages

 

[wulu1_69]

Debt free is good, but If got wife and kids, it means high ongoing expenses which can’t be cut down, and also possibility of future debt.

Stay single or dink to prevent such scenerios from happening?

 

[coyote]

I wonder where the idea of debt free come from

From all the financially handicapped edmwers.

 

[bluerhino]

my target is to have a high enough paying, very low stress (now and later till retirement), low risk (recession proof work) that u no scared to lose (can relatively easily get a similarly high paying job) that can last till pass retirement age.

high paying enough = can afford normal car, afford to splurge occasionally on food, electronics, life style, overseas holidays, vice..able to enjoy the latest in stuff without any guilt...nothing crazy like buying a Lambo or staying in landed property (or even condo)

and enough to be able to eat healthy, exercise..

Dentist or GP, no need thank me

 

[thretiredDad]

From all the financially handicapped edmwers.

Seems like it Is an achievement
with a badge?
when everyone rip, also leave as debt free