Trapped By Lure Of The High Life

[Cindy-Monkeybone 1]

Yox Mace,

There always people who purchase the flat without thinking if they have sufficent $$. I have a friend who has purchased a 5 room flat at $380 when their monthly income is only $3k+. Her reason " Her whoever don't like 4 room flat because it is next to the corridor" Hence, now they are paying extra CASH every month.

Even my relative asked me why don't I purchase the 5 room flats or the bigger 4 room flat and I immdiately shot back, " I do not want to pay extra $$ on every month unless you wanna to sponsor the extra $20K to $100K."

I rather have more CASH to live happily than to slog 7 days a week for the flat.

PS - "Currently, I am staying at the smallest 4 room flat available in the estate.

[MaCe 3]

Yox Mace,

There always people who purchase the flat without thinking if they have sufficent $$. I have a friend who has purchased a 5 room flat at $380 when their monthly income is only $3k+. Her reason " Her whoever don't like 4 room flat because it is next to the corridor" Hence, now they are paying extra CASH every month.

Even my relative asked me why don't I purchase the 5 room flats or the bigger 4 room flat and I immdiately shot back, " I do not want to pay extra $$ on every month unless you wanna to sponsor the extra $20K to $100K."

I rather have more CASH to live happily than to slog 7 days a week for the flat.

PS - "Currently, I am staying at the smallest 4 room flat available in the estate.

precisely, lots of such pple just never think of WHO and WHEN is going to finish paying the loan. Eventually this burden will be bear by their kids if they didnt get kick out of the house by hdb/bank.

Leaving a 6 figure loan "inheritance" for their kids = outrighteous WRONG!

and not forgetting the reno loan to make their pigeonhole house(hdb) look like ST Regis....

BTW I am living in a hdb pigeonhole house also.

[applefreak 1]

that's where the emergency fund comes in

every working adult should have (according to financial planners) an emergency fund which is equivalent to 18mths of income

setting that aside is more important than investing or retirement planning

without that, one cannot plan for emergencies or rainy days

although some will say i'm over-extending myself for my flat as my monthly installment is way more than my OA contribution (not topping up cash coz OA got enough to tahan a few years)

i'm trying to 'redeem' my hdb loan bit by bit so that i can finish the installment before i retire

guess it's how your prioritise things in life

for me, it's important to strike a balance between living within my means and enjoying my life

btw mace didi your pigeonhole bigger than my pigeonhole leh

[MaCe 3]

btw mace didi your pigeonhole bigger than my pigeonhole leh

bigger but cheaper than yours

[Cantona7 0]

With the current inflation rate going to hit 5% and household products already increase by 30%.

Whereas my salary hardly increase by 5% nw I can only take up part-time jobs to cover the cost hike.

[Cindy-Monkeybone 1]

Mace & Applefreak

Mine is only 85sqft. I guess that I have the smallest pigeonhole. HAHA !

[Cantona7 0]

Mace & Applefreak

Mine is only 85sqft. I guess that I have the smallest pigeonhole. HAHA !

Urs is the new version 4 rm flat but the location is good.

Edited March 26, 2008 by Cantona7

[applefreak 1]

think i can only take consolation in the fact that we have 5 adults and 3 furry babies

so that makes my home more worth it

seriously, the rising prices does not have much impact on my household expenses

guess we just buy whatever we can with the meagre sum budgeted

that's a good way to handle inflation, fixed amt of money to buy groceries

so if things get too expensive, go for less meat and more veg

[Cantona7 0]

seriously, the rising prices does not have much impact on my household expenses

guess we just buy whatever we can with the meagre sum budgeted

that's a good way to handle inflation, fixed amt of money to buy groceries

so if things get too expensive, go for less meat and more veg

Guess maybe we have to follow the govrt advise go for Household brand (Eg NTUC) more cheaper

But I would rather choose Sheng Shiong.

[applefreak 1]

do take note that not all things are cheap at sheng shiong

and NTUC is the most expensive supermarket i've visited

i have a habit of remembering the price of the most-frequently-purchased items

and buy them from the supermarket that sells them most cheaply

e.g. fresh prawns from sheng shiong bedok, where i also go for vegetables and chicken

other stuff i'll usually stock up during promo e.g. rice, oil etc

[ahjane 2]

mine is 4 room, 4A 108sqm, highest floor (11th only lah) at 20 year old HDB in north of SG. I dun nid to pay cash monthly as the OA is enuff. When the OA build up, i din pay HDB just in case i jobless and still have OA to tahan for at least 1 year. Now, at least 10 years ba.

Come to think about it, i admit i am not brave enuff to buy a EM or those double storey HDB flat which i alwasy wanted since i was a kid. My fear is when my monthly CPF contribution goes directly to paying for the flat, i got no CPF saving left. But when i vist frens house, those with EM or double storey. I envy leh.

hmm..i dun even know how much it cost. maybe i should ask ask hor...

Edited March 26, 2008 by ahjane

[applefreak 1]

me still thinking should reduce my hdb loan using cpf or cash

die die also must reduce bit by bit lah, very shiong to tahan alone you know?

my OA can only tahan 1yr without a job, after that must rely on my emergency fund liao

so die die must shorten my loan tenure

[Relacker 1]

2 ways, either u can live within your earnings or earning more than you living on. i believe the latter is more positive.

[ahjane 2]

me still thinking should reduce my hdb loan using cpf or cash

die die also must reduce bit by bit lah, very shiong to tahan alone you know?

my OA can only tahan 1yr without a job, after that must rely on my emergency fund liao

so die die must shorten my loan tenure

my fren also explain that it is better to redeem the loan cos saving on the interest. But if the OA only tahan 1 year, safe period?

[NiVleK 0]

Reading this, I think I am guilty of buying big big big TV and HTS that will probably add up to about 10K? I admit I need to get a reno loan, which I intend to pay off within 2-3 years (but I took a 5 year loan). Else, all my furnishings and eletrical stuff are paid in cold hard cash. I do not like to pay instalments, except for my flat and car.

Reading all this makes me feel gulity that i want to change my car after i clear my reno loan...hmmmmmmmmmmmmmm