On the other hand, the writer husband must be drawing real BIG bucks. Not many people I know can pay cash in full even for a Kia, let alone a Toyota.
So when I come across such letter, it doesn't really make me feel good. Need some retail therapy to help me get over this.
HDB flat, two kids, aged parents - and debt-free
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)
2 comments:
You can't really believe these things lah.
Who really knows if they are stating the truth or not? Straits Times doesn't run background checks on everyone who writes in.
Just do what you're doing and I'm sure one day you'll get there. Maybe by the time you have kids you'll also be debt-free?
And undoubtedly, I'm sure the husband earns an obscene amount. Or they won lottery. No one (except millionaires) can pay for BOTH flat and car without taking loans.
Actually I think it's silly not to take loans for car and home repayment, even if you can pay them off in full. The interest rates for these are relatively lower as compared to what you can get if you invest the money somewhere else. The interest rate on some of my unit trust is 25% last year. Definitely better. So, dun think they are better off... investment wise, maybe they are not? ;)
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