We used to earn a high total income but my wife got retrenched last year. After a year of trying and not getting another job, we decided to downgrade from our big landed property to a smaller 3 bedroom condo unit, which we paid in full cash. We also use the cash balance to clear our car loan and other personal loans. Today, we are debt free.

We also stopped having a maid and stopped tuition for our kids as my wife can teach them easily. She spends a lot of time nurturing the kids and taking care of the household. My kids are now doing very well under my wife's guidance, much better than when we sent them to tuition classes.

As a family, we have more quality time together. As a couple, we argue less as my wife is less stressed compared to when she was working. We also have more quality couple time together.

All that happened is a big blessing for our family. Even though we live in a smaller place and our income has halved, our quality of life has improved tremendously. We are lucky to own a valuable landed property which allows us to make the necessary adjustments.

The kids actually love living in the condo as they can swim in the condo pool.