Wednesday, December 30, 2009

Debts and Loans for 2009

With the year 2009 coming to an end, I have already done a brief review of my stock portfolio and insurance portfolio. You can view them by clicking here and here.

As I enter into the year 2010, my debts/loans are only from my house and my car.

My outstanding mortgage loan (@2.6% interest rate) currently stands at $246,478.64

Car loan should be around $25000

What are your outstanding loans as you enter into the year 2010?
Do you plan to decrease it or are you okay with such debts?


  1. Hi FF,

    Good summary you provided, thanks. My insurance coverage is only about S$300,000 - thinking of increasing it though. I have covered my kid for about S$250,000. I guess there should be a balance between coverage and amount of premium paid - right now I don't want to over-extend if I can help it haha.

    My outstanding mortgage loan (HDB @ 2.6%) is about S$113,000, no other loans. And yes I plan to decrease it further. Usually it's through lump sum repayment using me and my wife's bonus, but we always make sure we leave 6 months worth of installment as a buffer.

    Happy New Year!


  2. Holding on to debts is like juggling balls into the air. Some can only juggle one ball while others seem to juggle well with even more balls but don't ever drop any balls. Some balls may be rubber balls and they can bound back while others may be glass balls.

  3. Hi FF,

    Sounds tough considering you quit your job. Good luck with 2010 but as a friend, my advice is go look for a job still. Maybe something not as tough as what you did previously but at least it brings you comfortable income. 3 to 4k/mth will help you out alot and you will have no worries.

  4. Happy new year to all of you!

    Thanks for sharing. I certainly hope to get a stable job with a stable pay so as to be able to get my feet back on track towards my financial freedom.

    I will keep you guys updated =)


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