But there are indeed many EM staff (both NMPTs and MPTs) living beyond their means on stretched, over-leveraged loans - to support their living in luxury private condos and ECs, and driving expensive cars.
Yet earning only <$250K pa in gross salary nia, what with school-going children, need for tuition, discretionary CCAs like piano, violin, swimming, ballet, golf lessons and even more tuition.
With the current inflation and rapidly rising bank loan rates, many I know are struggling with their near-$1M mortgage loans! At 4.5%, smelly smelly, now paying $45K/yr in interest (only) to their banks! Haha
Not a very sound financial situation to be in.
So that’s why these people are so hard up for money!