credit card debt ??

i was speaking to a client of mine last friday and got to know she is in a $5k credit card debt. I was thinking and wondering why Singaporeans is into credit card debt these days. Is it discipline ??

While i was listening to radio this morning, i overheard an advertisement about electrical appliances promotion with 0% installment loan to purchase those items available. I was thinking inside me if such a method of sales beneficial for consumers ? If i am the merchant, i would gladly jump into this option of sales as it will broaden my scope of prospect able to buy my goods. However, such a way to purchase items have caused consumers to have $1k of monthly installment for the next 2-3 years minimum. Once you about to clear one item, another item came up and you cant seem to clear the installment off your card.

This is probably the main reason why Singaporeans mainly pay minimum on their credit cards and allow credit card to charge them interest . Will Singaporeans ever get to retire ??? Are we dropping ourselves into American credit crunch trap ? However, on the contrary, news reported that Singaporean asset to liability are actually improving over the years. Maybe i have not have a lot of friends being the 5 figure income earners yet.

In a nutshell, its not how much we earn but how much we save for our future. Pride has certainly drive our emotions to make some senseless financial decisions which led us to financial un-freedom.

to a better financial future

Cool off wednesday

Time : 10pm
Mood : nil

A cool off wednesday which finally ended a few days of mad rush of people buying stocks which spur the prices up . I rated the graphs of serveral stocks to be Paraboric. It means that the line of the graph looks as if it is ready to move into a vertical line which do not make sense in money market. These lines usually indicate the market has come to the point where down side is greater than it going further up.

Several graphs i have seen in the evening so far have shown signs of moving a few more days of down before another wave of rally resumes.

Stay tuned


SG stocks i am holding:
Kep Corp
SPH
F&N
Nico Steel
LKH

SG stock just sold:
SPC
SGX

SG stock i am aiming:
NOL
Parkway Holdings

to a better financial future

STI : 2600 ???

Time : 9am
Mood : fair

i have been wondering since May 09 why the current market is going up despite negative news all around the world ? Well, luckily on 15th July US market release positive news about new money injections and positive news on companies repaying debts, it eased my mind on why the market is so crazy.

Singapore market have been strong since May and i have a good 6th sense that this 'so call' recession is actually a gimmick already. STI have rose more than 1000 pts over last 5mth. Imagine i were to buy at the lowest point !!! Woo... However, it is actually these times which test the emotions of human being as the market went up and make people guess the next directions with different views.

Well, i don't care, the only thing i care about is the background of the company and i think it isnt any good time to target blue chips now. However, i found a way to ride the waves yet able to big high and sell low . Using bolliger band and stochastics chart to give me indications on the market movement have been good so far. I sold SGX at a high of $8.80 yesterday and expecting it to adjust back to the range of $8 plus/minus again before i go in market. May my dream come true ...:)

SG stocks i am holding:
Kep Corp
SPH
F&N

SG stock just sold:
SPC
SGX

SG stock i am aiming:
NOL
Parkway Holdings





to a better financial future