got rich father? or little white face?

hi all, acutaly im debt. Any one can give me advise how to save up when in debt?

How much is your debt and how much is your income?

A simple way - sometimes so simple you cringe when you hear it over radio - is to allocate 10% or 20% of your monthly income to pay down your debt. This assumes you make enough to spend! ... which doesn't apply for most people in debt. They wouldn't be in debt if they had made enough.... duh.

It depends on what kind of debt.

Most of us are in some kind of debt too, like mortgage and car loans etc.

After reading all these, Im even more depressed. I have only a pathetic $1000 savings with no assets though I'm only 24 this year.

Prolly you will feel better, you have double of mine.

Why do you feel depressed? A student is not supposed to have much savings.

That said, I had almost 2k after ROD. That's about 2 decades ago, when ORD was known as ROD. And 2k then is like 3k now.

It is easy to brag on the internet but once ask for more details, diam diam liao

I have mortgage, car loan, reno loan plus personal loan debts..... *sigh*

Me (Harvard Grad, 32) + Wife (MIT Grad, 31)

Cash 150k
Stocks 400k
Treasuries/Bonds 350k
2 cars 180k (fully paid)
HDB - 500k (fully paid)
SG Condo - 1.8m (60% loan left)
AUS Property - 700k (fully paid)


We are not in banking or consulting. We are in IT and Science. So this proves you do not have to be in banking to become a millionaire. But you have to play politics and be the guy bringing in the money for the company if you are salaried people

Good Luck all.

How much of your wealth came from inheritance or gifts?

What's your annual income?

I don't doubt your abilities, but to be able to go to US private universities, you guys are either scholars or born with silver spoons.

Non-AO scholars don't have much earning power, so I doubt you are even scholars.