In Singapore, it is almost impossible to survive without taking on any debt (for example a school loan or a home loan).

A school loan in a local university will easily cost you upwards of $20,000 while a home loan can cost you anything between $300,000 to $500,000.

As the loan amount compounds, putting off your monthly payments mean that you’re paying even more interest down the road.

To avoid this, you should plan out a debt repayment schedule and make sure you STICK TO IT.

Read also: Hacks You Should Try To Clear Your Debts Fast And Effectively

Here’s a debt reduction calculator to help you with that.

Tracking your expenses will also help you better understand where all your money is going AND it’ll help you clear your debt even faster.

Here’s the Seedly expense tracker that is COMPLETELY FREE for you to use in order to help