I visited a friend recently and he mentioned that he would be taking a couple of vacations from next week.
Going to Japan, Spain and France!
I know he just bought a second property a few months ago and he even said his savings, including money in his CPF account, was totally depleted after the down-payment.
So, I asked him why wasn't he saving money to pay for that second property?
AK:
"Wow! Really living the good life. Haha. Thought you saving hard to pay for XXXXXX payment."
Friend:
"It's just a trip. How much can u save?"
I don't know.
How much do you think he could save?
$6,000?
$8,000?
$10,000?
Enough to pay 1% of the loan for that investment property?
1% so little?
Keep thinking that way and we would be sabotaging our finances.
Do you believe me?
Don't think and grow rich.
Also, do you know that a housing loan could be an "evil" instalment scheme in disguise:
The evil instalment scheme and their minions.
Who threw a shoe at me?
Who? Who?
Related posts:
1. A dollar saved is a dollar earned.
2. Think you cannot reduce spending?