I feel I have the responsibility to spread the message of financial prudence after seeing yet another article of people going into debts even when they are in their mid 30s. Here is the article on Asiaone: 35 and flat broke!



On the other extreme, there was an earlier article on the straits times which shows how a young person can save $100K by the age of 30. Which one do you want? You decide.

Let's continue with the people who're in their mid 30s and are in debt. These people are not low income earners. In fact, they earn over $4000 a month. Some as high as $6000-$8000 per month.

The curious case of being broke?

Case 1

The first person is a 35 year old who earns $5000 monthly. This person has no savings and is $20,000 in credit card debts.

The lifestyle:

• Has a taste for designer ...

...