Originally Posted by Unregistered

This is good advice. I myself can attest to this. I lost my job last year and sold my landed property for $2m and downgraded to a Bukit Timah condo, paying $1.2m in full. I am now debt free. I also sold my German car and stopped employing a maid. I could not get a replacement full time job and now do some contract work, earning only $60k pa. Luckily my spouse is still working, earning $90k pa. We manage to survive by managing our expenses. We manage to cut our expenses to a minimal $100k pa. We now only save a meagre $50k pa, a far cry from our past annual savings. Life is tough in this modern world.