FCAB SWK Topic 10 Activity by NUS Social Work CPE

to meet financial obligations (mortgages), to meet daily needs

2026-03-30 07:20:03 UTC

not enough money

2026-03-30 07:20:06 UTC

2026-03-30 07:20:08 UTC

able to immediately buy/pay for something if they don't have the money for it right now

Loans to pay loans

2026-03-30 07:20:15 UTC

yinghernong — 2026-03-30 07:20:17 UTC

They need money for certain purchases

Lack of ability to pay.

2026-03-30 07:20:24 UTC

Accumulation of arrears, rising interests due to non-repayment.

2026-03-30 07:20:27 UTC

2026-03-30 07:20:39 UTC

To gamble

Family crisis

good to borrow when the sum of money is huge and it is more financially affordable to pay in instalments

2026-03-30 07:20:40 UTC

unable to pay back amount borrowed

2026-03-30 07:20:41 UTC

when there is urgent need but they have exhausted all other sources

oycherxuan — 2026-03-30 07:20:45 UTC

to purchase bigger items that they are unable to pay upfront for

2026-03-30 07:20:49 UTC

when they want/need cash instantly.

2026-03-30 07:20:52 UTC

Urgently need more cash on hand to meet daily necessities

For unlicensed moneylenders, low barrier to entry

for big items as they cannot afford it

2026-03-30 07:20:54 UTC

Taking up loans to settle outstanding loans.

2026-03-30 07:20:55 UTC

When they need to manage cash flow and defer payments for certain goods/services that are essential. Also, must have ability to service the loan repayment every month.

2026-03-30 07:21:17 UTC

2026-03-30 07:21:24 UTC

When your debt is more than your income

2026-03-30 07:21:24 UTC

Inability to cope with repayment

2026-03-30 07:21:35 UTC

Sustainable CPF OA to pay for HDB loan (monthly mortgage)

When coupled with one's addiction issues (e.g. gambling, alcoholism).

2026-03-30 07:21:37 UTC

2026-03-30 07:21:42 UTC

good to borrow: you have certainty that you can pay back (e.g., you know you will be paid at the end of the month AND salary > amount borrowed) [for short-term loans]

not good to borrow:

no/little certainty about ability to pay back

borrow to pay back other loans/debts -> get trapped in debt cycle

2026-03-30 07:21:43 UTC

to meet an immediate need/want that is beyond their current financial resources.

When debtors charge sky-high interests that families are not able to pay e.g. COURTS, unlicensed money lenders etc.

2026-03-30 07:21:51 UTC

overestimation of ability to afford certain expenses

2026-03-30 07:21:57 UTC

for housing if it's sustainable and help clients long term

2026-03-30 07:22:09 UTC

2026-03-30 07:22:12 UTC

borrowing money to pay back loans/debts -> creates debt trap, hard to break out of

not good when unable to repay debt, may snowball due to interest rates (e.g. credit card)

oycherxuan — 2026-03-30 07:22:14 UTC

2026-03-30 07:22:20 UTC

want to contribute to social activities or ceremonies e.g. paying certain % for daughter's wedding event

2026-03-30 07:22:22 UTC

Rely on borrowing to clear debts or to meet basic needs

Good to borrow if it is an informed decision with a plan and financial capacity to pay back.

2026-03-30 07:22:24 UTC

borrowing from the banks to pay for properties (HDB) is considered reasonable, however needs to do thorough financial analysis to ensure that client can fulfill the repayment periods

2026-03-30 07:22:25 UTC

education loan if the interest is manageable

2026-03-30 07:22:28 UTC

2026-03-30 07:22:37 UTC

unlicensed moneylenders -> harassment and danger to self and loved ones and even neighbours

Ability to exercise discipline/financial prudence in committing to instalment plans.

2026-03-30 07:22:41 UTC

2026-03-30 07:22:51 UTC

good to borrow: when it is a big sum of money but can be repaid with stable income and returns from investments etc. exceed interest

not good to borrow: when income is unstable and not guaranteed

Not good to borrow if the amount couldn't be paid by the deadline

2026-03-30 07:22:55 UTC

e.g. large amounts which cannot be covered by low and inconsistent income

yinghernong — 2026-03-30 07:23:06 UTC

Good to borrow when they have stable flow of income and able to pay back according to plan.

Not good to borrow when person is unsure if they are able to pay off the debt

2026-03-30 07:23:08 UTC

Good to borrow when there are means to pay within the stipulated loan period, with a continuous and secure income stream.

Not good to borrow when uncertain of ability to repay and monthly repayment adds stress to one's financial burden.

when the interest rate is very high

2026-03-30 07:23:11 UTC

2026-03-30 07:23:12 UTC

To borrow to pay for big ticket items like houses.

Bad to borrow to fulfill ones wants or to feed a bad habits like gambling or drugs.

individual is unable to track loans that are taken up and loans are taken up to repay other loans

2026-03-30 07:23:15 UTC

debt balance grows month on month

2026-03-30 07:23:17 UTC

2026-03-30 07:23:22 UTC

immediate gratification - fast money

2026-03-30 07:23:22 UTC

good to borrow when there is capacity to pay back

2026-03-30 07:23:29 UTC

Good

Planned, for a purpose and affordable - HDB housing loan.

Not good

Reactive, unnecessary - lifestyle habits, gambling

Some borrow from one moneylender to return to another moneylender.

2026-03-30 07:23:31 UTC

2026-03-30 07:24:12 UTC

when debt continues to accumulate

2026-03-30 07:24:13 UTC

Debt becomes a problem when accumulative interest that leads to increasing loan exceeds income generated or available financial resources.