Many studies and research have shown that debt is rising among people. All our living expenses are rising and it is not easy to manage.
The inflation rate for Singaporeans is projected at 2%. This is according to tradingeconomics. For more statistics, you can refer to Statistics of Singapore. Unfortunately, our salaries may not rise at the same level as inflation. There are even times where by there is not salary increase at all. This is because it is not a requirement by law to increase our salaries.
Any increment, bonus or AWS are given as per the company’s profit for the years. Even if the company is generating profit, this does not necessarily mean that the company will provide any incentives.
Education costs has also increase. We have to pay, to get a good degree or diploma before we can gain an entry point to start earning. The money will then be use to pay off our school debts.
In addition, when you grow older, there will be more aspects where you are responsible for. Paying your own bills, giving your parent’s money every month etc.
Debt Consolidation Loan
With so many bills, loans and debt to take care off, it can be very confusing. Furthermore, you may even miss out the deadline to make the payment for these loans.
Consider consolidating everything into a single loan. By getting a debt consolidation loan, you will be able to focus on a single payment alone. Doing so, you will not have to fret over what payment needs to be made on which day or week.
Consolidating everything will be able to help you to manage your finances better. You will know exactly how much you need to pay on which day.
This will help ease your problems.
Best Loan Option – Licensed Money Lender Platform
Best Loan Option is here to help you with your debt consolidation loan. We will be able to match you with the best lending company in Singapore to assist you with this request.
The companies that we currently know of that provide debt consolidation loan, they also assist you by helping you to plan your finances.
They will take the time to speak with you and understand your situation. You may not even be able to find this kind of service with banks.
If you are unable to take up a loan with the banks for this matter, licensed and legal money lenders in Singapore are here to help.