Comments on: The Sunday Times - Under 30 and $50,000 in Debt http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/ Developing Tomorrow's Financial Geniuses Fri, 12 Mar 2010 10:15:13 +0000 http://wordpress.org/?v=2.3 By: Ryan http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-2039 Ryan Sun, 11 Jan 2009 06:20:22 +0000 http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-2039 Hi NG, I believe there are 2 sides to this. First, how they get themselves into this situation and secondly, how they can deal with it directly and emotionally. The first part require youngsters to REALLY plan out their budget (spending & saving plan). I guess this was never really being educated during these group of below 30's education period. I was 1 of them and I didn't receive any Financial Education during my study days. I was left on my own to figure out how to manage my own finance. With that gap, that created the 2nd situation, how can the youngsters deal with their debt problems. The financial institutions are more than willing to assist those in debt to overcome the problem, BUT the youngsters have to be the ONE who request for it. Some institutions do allow the outstanding to stop the rolling interests and plan out a monthly installment plan to allow the amount to be paid over time. Furthermore, there are consultants who are willing to help these individuals if they are willing to step forward. My personal advise is "Prevention is always better than Cure. Don't be part of the statistics. " Cheers! Hi NG,

I believe there are 2 sides to this.

First, how they get themselves into this situation and secondly, how they can deal with it directly and emotionally.

The first part require youngsters to REALLY plan out their budget (spending & saving plan). I guess this was never really being educated during these group of below 30’s education period. I was 1 of them and I didn’t receive any Financial Education during my study days. I was left on my own to figure out how to manage my own finance.

With that gap, that created the 2nd situation, how can the youngsters deal with their debt problems. The financial institutions are more than willing to assist those in debt to overcome the problem, BUT the youngsters have to be the ONE who request for it.

Some institutions do allow the outstanding to stop the rolling interests and plan out a monthly installment plan to allow the amount to be paid over time. Furthermore, there are consultants who are willing to help these individuals if they are willing to step forward.

My personal advise is “Prevention is always better than Cure. Don’t be part of the statistics. ”

Cheers!

]]> By: NG http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-1493 NG Thu, 18 Dec 2008 16:08:25 +0000 http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-1493 Financial aids such as proper help to clear debt, working with institution for credit owing to etc should come forward to work with those in debt. banks, credit institution chasing these people who r in debt constantly had tore families apart, and to extreme cases, these youngster actually gave up fighting to clear their debt not knowing how they can help themselves to repay the amount slowly through monthly installment. All Financing firms lending money or any credit term make things worst with them rolling interest over and over each month instead of calling their clients up to come up with solution. think about it people. how not to have more youngsters declaring bankrupt and be heavily in debt or in worst, borrowing from illegal financial company. Financial aids such as proper help to clear debt, working with institution for credit owing to etc should come forward to work with those in debt. banks, credit institution chasing these people who r in debt constantly had tore families apart, and to extreme cases, these youngster actually gave up fighting to clear their debt not knowing how they can help themselves to repay the amount slowly through monthly installment. All Financing firms lending money or any credit term make things worst with them rolling interest over and over each month instead of calling their clients up to come up with solution. think about it people. how not to have more youngsters declaring bankrupt and be heavily in debt or in worst, borrowing from illegal financial company.

]]> By: ryan http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-222 ryan Fri, 04 Jul 2008 21:49:10 +0000 http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-222 Yes. It's actually quite scary to know that this is the FASTEST growing age group. And to think that Fresh Graduate now can earn MORE. It's really not about how much you can earn now, but how much you can save and invest from what you earn. I guess as long as anyone is working to work, they will get a decent job in Singapore. Therefore it's very much about how much they can plan for their own Financial Future. Hope that more youths are aware of this soon. Help Spread the news... :) Yes.
It’s actually quite scary to know that this is the FASTEST growing age group.

And to think that Fresh Graduate now can earn MORE. It’s really not about how much you can earn now, but how much you can save and invest from what you earn.

I guess as long as anyone is working to work, they will get a decent job in Singapore. Therefore it’s very much about how much they can plan for their own Financial Future.

Hope that more youths are aware of this soon.
Help Spread the news… :)

]]> By: lim http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-221 lim Fri, 04 Jul 2008 12:32:46 +0000 http://moneytree.sg/2008/06/24/the-sunday-times-under-30-and-50000-in-debt/#comment-221 I am expecting more once the casino is open.Especially youngsters who have not much experience in life.Hope professionals will come up with something to help them. I am expecting more once the casino is open.Especially youngsters who have not much experience in life.Hope professionals will come up with something to help them.

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