It’s much better if you learn these lessons without amassing a huge credit card debt. For a fair number of young Singaporeans, the first major financial shock comes in the form of a credit card bill. Most people aren’t aware of just how quickly uncontrolled spending will add up – and paying off that first S$10,000 debt becomes a rite of passage. But as the old saying goes, fools learn from experience, while wiser people learn from the experiences of others. Whether or not you have a S$10,000 credit card debt, these lessons are worth knowing:

1. You Will Fail to Comprehend How Exactly This Happened

It begins with denial. You won’t be able to understand how the debt reached S$10,000. As far as your brain is concerned, all you bought was a few meals, a pair of shoes, and one pair of concert tickets. What happened? Did you mysteriously ......