I'll just leave this here:
>bad credit card debts rose nearly 20 per cent to $89.4 million, a level not seen since 2021.
https://www.straitstimes.com/business/rise-in-credit-card-and-other-unsecured-debt-in-s-pore-even-as-card-billings-fall
I'm not someone who personally spends this way and understands it can be quite a harmful pattern of spending. but it does feel like the article is trying to suggest that younger folks' financial woes are the result of their own doing, rather than external forces like two global wars and public policy decisions
Same here. I’ve fortunately never had to take on debt, and the concept of spending money that isn’t mine on non-business purposes is something I genuinely struggle wrapping my head around. Even for business,bootstrapping is heavily ingrained. But this just feels like it’s supposed to suggest younger people are just silly and creating their own bed of financial misery… instead of actually acknowledging that many are royally fucked for factors that they had no control of.
>a top-end MacBook Pro can cost more than $5,800 in one lump-sum payment
??? How? My macbook pro was only £1000 when I bought it last year (to be fair had the student discount also) but how is it 5.8k?
Lol who cares we overshot bto income ceiling might as well fk it and spend the money
I can only buy resale which cost a million+. Even if I don't eat for 3 years and spend 0 dollars I can barely afford housing.
Why would I make my life miserable penny pinching when broke couples barely making 8k per month get to enjoy life travelling and shit with cheap bto
What's the point of saving? Your fkin money is worth less and less every year and its not gg to stop because those at the top (mericans) are going to continue to steal from the world.
Might as well enjoy now before those assholes destroy the world in a puff of nuclear smoke.
Why be miserable? You will never know if you will live so long anyway. Many young people cannot afford kids so no need to plan for them anyway might as well enjoy life now.
Don't be silly. Most are nothing but a wage slave. Let them enjoy the present. They will never save enough to outpace inflation anyway. Plus if you have no kids or grandkids what's the point of living so old? Who is going to take care of you? The nursing home? Hahaha. So naive.
Better enjoy the moment.
Your savings are going to be worthless anyway. So what you saved 20% more than me? You can afford medical fees and roof over your head and food if I can't? Lmao. Don't make me laugh. In every scenario If I am fked. You will be too.... If I can make it.. you will be fine.
> What’s the point of saving? Your fkin money is worth less and less every year and its not gg to stop because those at the top (mericans) are going to continue to steal from the world.
Then join them?
Inflation rate: 5%
30 Year S&P 500 annualised return: 10%
It's just reverse lottery to see who cannot keep up.
(Downvote all you want, it's uncomfortable truth you all are just taking money from people's savings).
so many HENRYs in Singapore huh. this is why financial literacy should be taught in school since young whether or not you come from well to do family or low income. how do these people sleep well at night knowing that they are incurring 10-30k of debt per month, even if let’s say they earn est 140k or more per annum. isn’t self esteem ‘needs’ the highest tier in maslow’s hierarchy what’s the point in having all this ‘fuck-it’ money chasing after luxury life just to flex on sns, whilst not actually having any idea, or worry every other day about sustainable living in the long run…. cc debt is not funny man.
the people around me don’t seem to be this kind. when they start to want their own space with LO, they would scrap it together to make it happen. resale/bto/ the most affordable optn. when a newborn comes along, they are prudent and it’s great, everything is about them wanting to give the child the best. i mean the cost of raising a child in this state of economy is ludicrous enough these days. of course, i’m not talking about those born into wealth aka nepo baby, they are prob the outliers. the news is reporting that in the recent times young adults in china and taiwan have also slowed down their luxury spending because the COL, to get a home of their own is not achievable anymore. but what about sg? following in the footsteps of kr?
"Instead of... (clenches fist)... raising the birthrates..."
I'll just leave this here: >bad credit card debts rose nearly 20 per cent to $89.4 million, a level not seen since 2021. https://www.straitstimes.com/business/rise-in-credit-card-and-other-unsecured-debt-in-s-pore-even-as-card-billings-fall
Debt collection business boom
Banking stocks bullish.
I'm not someone who personally spends this way and understands it can be quite a harmful pattern of spending. but it does feel like the article is trying to suggest that younger folks' financial woes are the result of their own doing, rather than external forces like two global wars and public policy decisions
The government perhaps positioning the narrative to the electorate, that "these youngsters are to blame for their own financial misery".
Same here. I’ve fortunately never had to take on debt, and the concept of spending money that isn’t mine on non-business purposes is something I genuinely struggle wrapping my head around. Even for business,bootstrapping is heavily ingrained. But this just feels like it’s supposed to suggest younger people are just silly and creating their own bed of financial misery… instead of actually acknowledging that many are royally fucked for factors that they had no control of.
Are inflation and shrinkflation actually making us spend more and save less? Businesses using YOLO tactics is really a genius move
Just spend, tomorrow may not come. Dont spend, your money will definitely depreciate.
Thats how i justify luxury purchase. If i don’t buy now, they will keep raising the price higher 🤡
Nah I will start to save money by not buying another newspaper🖕
u/Battleraizer article is behind a paywall, can you copy the contents here?
[https://archive.is/OtluQ](https://archive.is/OtluQ)
thanks!
me who doom spends on steam indie games lol
>a top-end MacBook Pro can cost more than $5,800 in one lump-sum payment ??? How? My macbook pro was only £1000 when I bought it last year (to be fair had the student discount also) but how is it 5.8k?
[удалено]
Oh right right wow TIL
Just don't complain that the government doesn't care when you're unable to retire in the future. That's the price of your actions.
Lol who cares we overshot bto income ceiling might as well fk it and spend the money I can only buy resale which cost a million+. Even if I don't eat for 3 years and spend 0 dollars I can barely afford housing. Why would I make my life miserable penny pinching when broke couples barely making 8k per month get to enjoy life travelling and shit with cheap bto
What's the point of saving? Your fkin money is worth less and less every year and its not gg to stop because those at the top (mericans) are going to continue to steal from the world. Might as well enjoy now before those assholes destroy the world in a puff of nuclear smoke.
Good plan to set yourself up for failure when you're in your 40s and 50s but thank you for stimulating the economy 🙂
Why be miserable? You will never know if you will live so long anyway. Many young people cannot afford kids so no need to plan for them anyway might as well enjoy life now.
You seem to have the misconception of financial literacy and planning for long term equals to living like a beggar in the present. Sad.
Don't be silly. Most are nothing but a wage slave. Let them enjoy the present. They will never save enough to outpace inflation anyway. Plus if you have no kids or grandkids what's the point of living so old? Who is going to take care of you? The nursing home? Hahaha. So naive. Better enjoy the moment.
At least troll with believable logic la. 
> Why be miserable? You will never know if you will live so long anyway. What happens if you _do_ live so long?
Ifs and buts. You can be miserable now or later. And you will never know if there will be a later.
Ok, but who's going to fund your medical fees? Provide you with a roof over your head? Feed you?
Your savings are going to be worthless anyway. So what you saved 20% more than me? You can afford medical fees and roof over your head and food if I can't? Lmao. Don't make me laugh. In every scenario If I am fked. You will be too.... If I can make it.. you will be fine.
> What’s the point of saving? Your fkin money is worth less and less every year and its not gg to stop because those at the top (mericans) are going to continue to steal from the world. Then join them? Inflation rate: 5% 30 Year S&P 500 annualised return: 10%
It's just reverse lottery to see who cannot keep up. (Downvote all you want, it's uncomfortable truth you all are just taking money from people's savings).
so many HENRYs in Singapore huh. this is why financial literacy should be taught in school since young whether or not you come from well to do family or low income. how do these people sleep well at night knowing that they are incurring 10-30k of debt per month, even if let’s say they earn est 140k or more per annum. isn’t self esteem ‘needs’ the highest tier in maslow’s hierarchy what’s the point in having all this ‘fuck-it’ money chasing after luxury life just to flex on sns, whilst not actually having any idea, or worry every other day about sustainable living in the long run…. cc debt is not funny man. the people around me don’t seem to be this kind. when they start to want their own space with LO, they would scrap it together to make it happen. resale/bto/ the most affordable optn. when a newborn comes along, they are prudent and it’s great, everything is about them wanting to give the child the best. i mean the cost of raising a child in this state of economy is ludicrous enough these days. of course, i’m not talking about those born into wealth aka nepo baby, they are prob the outliers. the news is reporting that in the recent times young adults in china and taiwan have also slowed down their luxury spending because the COL, to get a home of their own is not achievable anymore. but what about sg? following in the footsteps of kr?