How can we avoid the debt trap? Distinguish needs and wants Many people incur excess credit card debt through overspending because of their inability to tell needs from wants. Example of a handbag, while one may need a bag for daily usage, one only wants a luxury bag costing thousands of dollars. Prepare for emergencies […]
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How do I know whether a moneylender is licensed or not?
Do not borrow from unlicensed moneylenders. Verify that a moneylender is licensed by checking the list of licensed moneylenders. “Click here to access the list of licensed moneylenders.” Notwithstanding that the moneylenders are licensed, be mindful if they: Use abusive language, or behave in a threatening manner towards you. Ask for your SingPass user ID […]