I found the recent election debates to be of most interesting. Not because I like politics but because there were quite a number of issues raised that are either related to economics or financial planning. Both are my expertise, favorite past-time and of course most importantly I earn a living giving advice to others on a professional basis with regard to financial planning. Based on my empirical experience, most Singapore residents are financially illiterate and thus have no clue what is happening and whether the debates make sense or not. One of the issues raised was from this article Length of loan is not the issue. An individual was quoted as saying “It is not the length of the loan but the percentage of monthly income repayable to the housing loan that matters.” I disagree with this statement. The length of a loan is an extremely important factor. Why? ......