If you have a $5,000 a month job and payslip, you can
1) borrow $60,000 of credit line
2) borrow $150,000 to buy a car
3) borrow $500,000 to buy a flat
Suppose A earns $5000, rents a room for $750 and saves $4000 a month. He has $50,000 savings in 1 year. $500,000 savings in 10 years. A $500,000 today property may cost $1 million 10 years later.
But If A borrows money today, he can get $700,000 loan immediately to buy a house, car and things. He gets to enjoy life without waiting for 10 years. For example a 4 room BTO costs $150,000 in 2003, and now costs $450,000.
That’s the importance of having a good payslip.
Imagine If A is a foreigner and there are 2.5 million of them, each getting $700,000 advance salary, that will be $2 trillion. But foreigners will most likely spend the $2 trillion in their home countries. For example 1.5 million malaysians working in singapore will buy cars and houses in Malaysia.
Here are what netizens think:
- I wanna know how A’s expenses $250 only
- it’s doable if you every weekend don’t go your fancy restaurant haidilao and spend $250 per weekend
- And for the temple breakfast, lunch and dinner really my house nearby everyday they provide so weekend can go eat then pray to guan yin.
- this is why education is important. if not how we know people trying to alibaba you with random quick math.
- some workplace do provide lunch/ dinner. For transport buy the monthly concession pass. Stay with parents to skip rental and utilities bills. But it’s hard to survive like that