In Jun 12, I had calculated my total debt which is totally from the mortgage loan of my flat to be $8K. The calculation is based on using the outstanding housing loan amount minus away my total family CPF OA amount.
Today I have recalculated my total debt again, and it has reduced by another $5k. In my post on "What I hope to achieve in 20 years?", I mentioned that I wanted to reduce my total debt to $0 within the next five years, Based on my conservative estimation, it can be achieve by the end of this year.
9 comments:
How long do you take to fully paid for HDB mortgage?
Hi MSAPersonalFinance,
Slightly less than 10 years.
Regards,
Freedom Achiever
Being an Financial Advisors, after seeing your debt amount, i will say you can repay your debt in 8-10 years,
I took around 6 years to pay off my 1st property. Building up on my property portfolio now. :-)
Congrats on your debt reduction success!!
Definitely good to get rid of your debt as fast as possible!
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