In recent years, there were various articles on increasing trend of Singaporeans defaulting on their credit card payments. I think this is a worrying sign in Singapore. In fact, one of my readers commented that he belongs to the group of credit card payment defaulters and is struggling to settle his mounting bills. I hope he managed to dig his way out of the hole he created for himself, but I suspect it is going to be a long and tough road for him. I believe this is also the case for many young Singaporean adults who just entered the workforce and spend lavishly.Financial Discipline When I just started out working, I always thought that credit card gives consumers a false sense of purchasing power. It was only until when my brother, who works in the credit department of an international bank, pointed out that the key to managing credit card ...