Spring Moderator October 30, 2014 Share October 30, 2014 Thanks. It's not easy definitely. My relationship with my wife took a serious beating. Arguments almost every other day. It was bad.... really bad. I was not only in debt but in two lawsuits as a result of the fail business. It dragged on for 4 years. Lawyers are bloodsuckers.... no doubt about it. I almost had a mental breakdown. Now, I have cleared almost all debts. Left with just $5k to the bank. I can clear it at one go but I purposely left it there to service it monthly as a reminder to me not to be too trusting in business anymore. I don't spend on luxuries like clothings or watches. Not even on vacations. Only spend mostly on my children now. But still got a soft spot for cars. Now considering another one It would have been a miracle if your relationship was not strained! Years back, my bro-in-law (wife's bro) got into problems as well. Creditors were after him and lawyers were serving notices at my in laws house. The old folks couldn't take it, wife kept everything to herself and didn't let me know at first. She even went to faced the creditors herself and got shouted at, bang table etc. Anyway, life was hell for all of us so really emphatise with those in this predicament. We do deserve to pamper ourselves after all the hard work so fully understand the need for abit of indulgences despite the tough situation. That said your soft spot on cars abit erm lol!! Good Luck and glad to hear that you're well on your way back to normality ↡ Advertisement 4 Link to post Share on other sites More sharing options...
Vid Hypersonic October 30, 2014 Share October 30, 2014 It would have been a miracle if your relationship was not strained! Years back, my bro-in-law (wife's bro) got into problems as well. Creditors were after him and lawyers were serving notices at my in laws house. The old folks couldn't take it, wife kept everything to herself and didn't let me know at first. She even went to faced the creditors herself and got shouted at, bang table etc. Anyway, life was hell for all of us so really emphatise with those in this predicament. We do deserve to pamper ourselves after all the hard work so fully understand the need for abit of indulgences despite the tough situation. That said your soft spot on cars abit erm lol!! Good Luck and glad to hear that you're well on your way back to normality :D Link to post Share on other sites More sharing options...
Kusje Supersonic October 30, 2014 Share October 30, 2014 (edited) Thanks. It's not easy definitely. My relationship with my wife took a serious beating. Arguments almost every other day. It was bad.... really bad. I was not only in debt but in two lawsuits as a result of the fail business. It dragged on for 4 years. Lawyers are bloodsuckers.... no doubt about it. I almost had a mental breakdown. Now, I have cleared almost all debts. Left with just $5k to the bank. I can clear it at one go but I purposely left it there to service it monthly as a reminder to me not to be too trusting in business anymore. I don't spend on luxuries like clothings or watches. Not even on vacations. Only spend mostly on my children now. But still got a soft spot for cars. Now considering another one Can I clarify if you gave a personal guarantee for your business or it was a sole proprietorship? Good on you that you managed to solve all these problems within such a short period of time. Edited October 30, 2014 by Kusje Link to post Share on other sites More sharing options...
Vid Hypersonic October 30, 2014 Share October 30, 2014 Can I clarify if you gave a personal guarantee for your business or it was a sole proprietorship? Good on you that you managed to solve all these problems within such a short period of time. It was a joint venture with a corporation that went sour. Was supposed to be a 50-50 investment but end up I was the only one coughing up the money. That was why there were lawsuits. Link to post Share on other sites More sharing options...
Hiphiphoray 6th Gear October 30, 2014 Share October 30, 2014 (edited) Ok lar.....i believe you. 5 bananas for you. I keep on telling people this but nobody believe me....*sob sob* Edited October 30, 2014 by Hiphiphoray 1 Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged October 30, 2014 Share October 30, 2014 I keep on telling people this but nobody believe me.... *sob sob* Hanna hanna.. I believe... I only use money I actually have... Lucky when I started working, my salary was a little under the CC point =X and I didn't know OT and all the allowances can be added in for CC, so didn't get.. Then found out about how some of my friends' debts, I told myself not to get it even after pay raise / job changes. @Doppel, I still play toto, earlier just went to buy $5 of toto quick pick! But it's just buying hope, not for clearing debt or anything ($0 debt) 1 Link to post Share on other sites More sharing options...
Doppel Turbocharged October 30, 2014 Share October 30, 2014 Hanna hanna.. I believe... I only use money I actually have... Lucky when I started working, my salary was a little under the CC point =X and I didn't know OT and all the allowances can be added in for CC, so didn't get.. Then found out about how some of my friends' debts, I told myself not to get it even after pay raise / job changes. @Doppel, I still play toto, earlier just went to buy $5 of toto quick pick! But it's just buying hope, not for clearing debt or anything ($0 debt) @Hydrocarbon, Sure, a flutter of $5 is most definitely OK; but if one punts a few hundred or thousands every week, then I think it may be overboard. 1 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic October 30, 2014 Share October 30, 2014 I think it all boil downs to self control and greed... There are ppl w/o CC, and yet they gambled like no tomorrow... They will borrow from legal or non-legal means and keep on playing and playing.. in the end, there will be no way to come back from the huge debts mounting... Even w/o CC, there are so many places like SP and online gambling websites to tempt us to play... Who don't have greed? But, one must know that we can never ever win anything from these big players... Play a little each weekend, if you can afford, and that's it... Don't ever be greedy .. Same principle apply to CC too... Really, one must exercise self control and contain our greed. Don't see what, buy what... Don't buy things you can't afford, to show-off to people who won't bother abt you... 4 Link to post Share on other sites More sharing options...
RadX Moderator October 30, 2014 Share October 30, 2014 WANT vs NEED 3 Link to post Share on other sites More sharing options...
Spring Moderator October 30, 2014 Share October 30, 2014 (edited) I think it all boil downs to self control and greed... There are ppl w/o CC, and yet they gambled like no tomorrow... They will borrow from legal or non-legal means and keep on playing and playing.. in the end, there will be no way to come back from the huge debts mounting... Even w/o CC, there are so many places like SP and online gambling websites to tempt us to play... Who don't have greed? But, one must know that we can never ever win anything from these big players... Play a little each weekend, if you can afford, and that's it... Don't ever be greedy .. Same principle apply to CC too... Really, one must exercise self control and contain our greed. Don't see what, buy what... Don't buy things you can't afford, to show-off to people who won't bother abt you... Well said bro You can be in debit even without credit cards so like you rightfully pointed out its about self control. We have to have self control over everything from money to temper and even women. That's why if I have one wish it's to have self control and patience over everything else!! Er.....actualy that's two wishes right Edited October 30, 2014 by Spring 7 Link to post Share on other sites More sharing options...
Solar Turbocharged October 30, 2014 Share October 30, 2014 imo.. cc is not all evil.. and can be an angel...if u know how to control and exploit them. ie. the rebates and miles. of course.. u don't unnecessarily spend in order to earn those. cos u end up losing control and then no point already. for example.. boc shop card gives 6% rebates for online spends. i use it to top up my debit card wallet, and enjoy the rebates for non-online spends too 4 Link to post Share on other sites More sharing options...
Sabian Turbocharged October 30, 2014 Share October 30, 2014 I love credit cards that offer at least 4 miles/ dollar swiped. 2 Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged October 30, 2014 Share October 30, 2014 @Hydrocarbon, Sure, a flutter of $5 is most definitely OK; but if one punts a few hundred or thousands every week, then I think it may be overboard. There was a time when I first started, I spent more than I should have, though never til hundreds or thousands per week, just hoping to win. And I would go out of my way just to find a shop to buy (if I haven't bought before). Now it's just, on the way, got see got buy, no see no buy.. Found a cheaper and better hobby liao.. An old hobby that I gave up long ago.. And found new friends through the hobby, so it's great.. Most importantly, no matter what we do, is that we control ourselves, and not lie to ourselves, as the easiest person to cheat is ourselves. Like bro @Ktglfc said, no need CC to get into trouble anyways.. 3 Link to post Share on other sites More sharing options...
Vegas Turbocharged October 30, 2014 Share October 30, 2014 I love credit cards that offer at least 4 miles/ dollar swiped. wah simi card? for krisflyer? 1 Link to post Share on other sites More sharing options...
Raymondism Twincharged October 30, 2014 Share October 30, 2014 The people in this forum buy car use full cash one... I doubt you could get any good advise..... that is already very good advice... pay in cash... no cash? then dun buy 6 Link to post Share on other sites More sharing options...
Boringchap Turbocharged October 30, 2014 Share October 30, 2014 I love credit cards that offer at least 4 miles/ dollar swiped. Which credit card is this? I am also interested. 1 Link to post Share on other sites More sharing options...
Yeobt Supercharged October 30, 2014 Share October 30, 2014 i'm going to clear my loans of $20k with standchart and HSBC in another 12 months! i took one month to empty the $20k but 5 years to clear. WHAT THE FCUK!!! 2 Link to post Share on other sites More sharing options...
Kusje Supersonic October 30, 2014 Share October 30, 2014 imo.. cc is not all evil.. and can be an angel...if u know how to control and exploit them. ie. the rebates and miles. of course.. u don't unnecessarily spend in order to earn those. cos u end up losing control and then no point already. for example.. boc shop card gives 6% rebates for online spends. i use it to top up my debit card wallet, and enjoy the rebates for non-online spends too Woah. How does this work? What BOC shop card? i'm going to clear my loans of $20k with standchart and HSBC in another 12 months! i took one month to empty the $20k but 5 years to clear. WHAT THE FCUK!!! What did you spend the money on? ↡ Advertisement Link to post Share on other sites More sharing options...
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