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@chenoodles The word "illegal" is misleading. There is no law against it, you won't be arrested by the police. It probably violates your bank's T&C. Which, just like wearing singlet to restaurant with dress code, is only punishable by refusing to provide the service (cancellation of your card)...

@joep222w Survive certain accidents. Comfortably carry more than 5 full sized adults. Carry oversized items (think IKEA furniture purchases). The better question is (purely practically) what can you do with a 250k+ car that you can't do with something below 150k. At that level it's about...

@eeevie Eh, doesn't really matter, personal finance is not a popularity contest. I know the vast majority of Malaysians HAVE to take car loans, and being able to pay fully for the car is a privilege (esp for the first car). Also somehow the car is a status symbol, T/H > P1/P2 etc. Still a poor...

@pandafan I guess if you like donating money to banks, sure.

@astrocol Rule of thumb - if you have to take a loan, you can't afford it. Unfortunately sometimes you have to take the loan because it's not really feasible to live and work where you are without a car. That's not your fault, nor do you really have a choice. You DO have a choice what car you...

@lucyflora As a parent, my kids do not see a single cent of their ang pao. All of it goes into long term savings. How is that monstrous (yes I guess there can be an argument made that it is unfair)?

@freesoul88 Very much depends on the couple (who earns more, who is better with discipline and numbers). I'm old fashioned, joint account and one person (me) handle all accounting and records. Most people will have one joint account for 50-50 spending (household), and individual accounts for...

@cookie1720 This is outside of this sub topic a bit - but if there is a lack of trust in telling the truth then you may want to try and address that. Money unlikely to be recovered, but trust can be rebuilt. Of course need two hands to clap, but someone has to start the process and may as well...

@vlc Money saved for eventual spending is wealth, not income, and T20 is a measure of income. One of the reasons it's not a great measure, because wealthy retirees for example aren't accounted for (and qualify for plenty of benefits that working adults don't). And MY banks have this baffling...

@hummelav Why would you use a categorisation of Malaysian wages to classify your Singaporean wage? Only makes sense if you're working remotely. Otherwise it's just a syiok sendiri title.