Loans Phobia

By Peace | October 18, 2007

I hate to think of education loan. I have loans phobia. My family has too much loans. I would not want my children to have any education loan in future. I do not want them to have any kind of loans!

Today I just completed the application form for financial assistance. This is to apply for free text book for the children. The textbooks are getting more expensive every year. In the past, I did not know of this. I took old textbooks from neighbours and friends. I kept Ricsson’s textbooks for Clara to use. However, by the time Clara’s turn to use the books, all the booklists were different. Last year, I was glad I was granted free text books. I saved about S$350! With these money saved, I bought new uniform for Ricsson. Last week, Clara complained about her skirt being too tight. It is time I buy her new skirts too.

These are all the things which cost money. Education cost a lot of money nowadays. I had to fill up the application form. Unemployed, No monthly salary. So pathetic. What sort of occupation am I doing? Is this a ‘recognised’ profession? I would not think it is a profession. Anytime I am not writing, I am not paid. I am working on my own. NO paid leave, no maternity leave.

Family household income? What I earn is all for my children’s and family’s expenses. Food, clothing, bills and so on. Talking about family household income, after loans deduction, it would be negative assets. My family basically have negative assets! What is this!

For some personal loans and cash advance or credit card loans that was incurred while he was young, all these have become long term debts. We are loans slave. I hate it. I want to have positive assets and not negative assets. How can the children have a good future?

you think it is too easy to get a loan? are the banks too keen to lend money without checking first if a person can repay? If you have any experience with loans and borrowing money please write about it, would you do things differently? The most headache part now is our homeowner loan which is being paid monthly through our CPF. In another months time, the CPF is going to be depleted. Yet, there are no stable income nor regular income.