This post is inspired by comments from my previous post on Recession Heroes Ep 5 - Resilience during tough times. Too many people have too much debts causing problems for them and their families when they lose their jobs. Housing debts are one of the major debts among young people in our current generation now. When buying a house, remember to plan ahead and do not over commit. A general guideline is not to use more than 30-35% of your monthly income to pay for housing loans. However, different people have different circumstances. You will know your situation yourself. Plan accordingly. MAS has reported that statistics show rising household debts in Singapore is worrying. Measures have been put in place the past few months and is still ongoing currently. National development minister Khaw Boon Wan has also spoke regarding the future spikes in interest rates.

Mr Khaw said: "They assume ...

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