Quote:
Originally Posted by Unregistered
Sorry to hear about your situation, but don't despair. Here are some suggestions for you.
1. Your house is your asset. Keep it.
2. You can sell your car, you will save $2k pm.
3. You can drive a taxi, if you are hardworking, you can earn $5k pm. The taxi can be used for your family too.
4. Your kids are clever, tell them to give tuition to earn pocket money. For their uni education, they can get local scholarships.
5. Stop any wasteful and sinful expenses such as drinking, smoking, gambling.
6. When you retire, you can rent out your flat at $3k pm and retire in Chiang Mai, you can retire comfortably for $1k pm. You can save $2k pm.
Hope these ideas are useful.
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Hi,
Thanks for the suggestions. However, don't think they can work for us.
1. Will only sell house and downgrade to a smaller unit only as a last resort because price not attractive, no point.
2. Car left with less than a year's useful life, will use it. Will not be able to afford another one after scrapping current.
3. Driving taxi not an option due to various reasons including health.
4. Kids though in top school are among the lower rung due to those from better financial background having loads of paid outside coaching. Family background really plays a big part in the advantages better students enjoy. Eg. those who can afford to stay near school save on travelling time, apart from professional coaching. Giving tuition for income? They already have not enough sleep with the heavy workload and CCA commitments. As for Uni scholarship, we are keeping my fingers crossed, also our wish.
5. No money spent on smoking, drinking or gambling except on 4D, Toto and Big sweep. As we feel more desperate, we spent more on these, hoping for a windfall.
6. Never thought of retiring overseas. That means living apart from children and family members. Really don't wish to.