Private College Student Loan

The standard of living in Singapore is so high...how do I keep up?

Everything is about money. I feel so stressed out. Why can't there be a simpler way? Me and my 2 years bf is getting married next year but money strained our relationship most of the time. First ROM needs money, a simple dinner needs money, wedding photos needs money, dowry = money, flat = money... I even do my part to help him out whenever he has trouble getting and being employed. The sad thing is that dowry also I need to help out. I guess I have no choice because I do love him, in a way. I hope he don't disappoint me in the future. The worst part is that we are trying to own a BTO HDB flat (which we do not know whether are we entitled or not) due to me. Myself a SPR from Malaysia, do own a landed property for more than 5 years which is still under loan. That property, initially does not really belongs to me as it's my father who needed to refinance the property for my siblings education purposes. At that point of time, his age doesn't allow him to refinance, so he has to borrow my name instead because I am the one eldest child working and eligible to own a property. In a way, my parents don't have to worry where is the next meal comes from (during that time, with his age, it is not easy to find a job). Now, the problem arises from my side. Me and my bf might be having problem owning a BTO HDB flat because of the property in Msia. Our income is not that fantastic and he doesn't have a secure job. Currently staying at his parent's place doesn't allow me to put my things. His room is just a small room occupy with a lot of boxes (which belongs to me). Other than that, I have a health problem which requires me to consumed chinese medication. How do I keep up with life if problems keep coming in and no solution to it?

Public Comments

1. Your foreign property don't affect your application for a BTO HDB flat. But setting up a family for young couple in Singapore have become more difficult nowadays, thanks to the free flow of foreigners coming to Singapore, public properties (HDB) price had increased more than 30% over the past 3 years. For certain location, even up to 50%. Imagine a 4 room flat in Ang Mo Kio now cost about $500,000, compare to slightly more than $200,000 3 years ago. Do your financial planning first before deciding to get your own flat.
2. It is an agony on wanting and unable to fulfils. But aren't we suppose to live within our means and workout the best possible solution to resolve the immediate crisis rather than trying to create another one. Since both of you have a series of chronically issues need to address on a regular basis. All the tie-down and constraints will have to resolve with or without the new residence which both have a load of burden needed to be settle. I would advise that both of you should sat down and carefully plan out your finances and the risk of getting what is desire. Lower down your expectations will be your first priority without the new load of burden to shoulder will be a better solution. Everybody like to do like the rich is having but we should be measuring what is worth doing that will never incurs the next wave of financial distress. In either way, the current problem still exist and still required both of you to settle, therefore I urge both of you not to overly estimate the current what you are earning but to see the next few years will be quite difficult in seeking fund for repayment. Never create another bubble that both of you cannot be able to handle if next crisis arise later.
3. Hey, i'm from Singapore too :) You sound really down in the dumps. Here's a video to cheer you up: http://www.youtube.com/watch?v=cFgSHF76e-Q ok it doesnt solve the problem, and it's an old video so you might have seen it before...but just remember that there are other Singaporeans like you and you are not alone. God bless and good luck! :)