Singaporeans share the worst financial mistakes they’ve ever made in their lives

SINGAPORE: Singaporeans have taken to an online forum to candidly discuss their worst financial mistakes, either their own or those they have observed others make.“What’s the worst financial mistake you’ve made ? … read all the horror stories about buying cars they couldn’t afford, being stuck in a loop of payday loans and credit card debt, and putting it all on black and losing it all…”Signing up for ILP is at the top of the list.

Additional users also shared their own experiences, with losses ranging from S$6,000 to as much as S$20,000. This underscores the widespread impact of ILP-related losses among Singaporean Reddit users and possibly other citizens. He made this decision after the stock plummeted from an all-time high of $320 just six months prior.

Their stock market and economy are languishing now. I don’t know if my Alibaba shares can ever break even.”Several individuals also confessed that marrying the wrong person or applying for a BTO flat with the wrong partner was perhaps their most devastating financial mistake. “Thankfully I only lost $2k on the downpayment cause I hadn’t started work then. He lost $17k and much more after he fell into a depressive gambling stint.”A few regrettably fell prey to sketchy trading schemes and allowed others to trade for them. One user admitted that she got involved in a forex trading scheme called Samtradefx and lost S$8,500.

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