Cent & Sensibilities

EPISODE 3 - CREDIT CRUNCH

	Flip open your wallet and you will probably find a credit card gleaming back at you...

Credit cards have become an accessible way for us to pay for our purchases.

But do we know when to stop before we rake up a growing debt? The statistics are real. Most of us don’t say it but credit card debts are common in this day and age. In this episode, we meet a man straddled with a US$140,000 debt and he shares candidly with us how he managed to swipe his life away.

If you are already in a credit card debt and want to walk away from it, get tips from our credit counseling expert.

	Married with three children, Raymond Cheng was working in the Sales department of an Education institute. In 2001 however, he started spending a lot through his credit cards and went on a non-stop shopping spree, chalking up a S$200,000 credit card debt. Now bankrupt, Raymond is trying to pick the pieces up again.

	Over his expansive career in the Credit Counseling Service, Kuo How Nam encountered many Singaporeans in need of help to clear their credit card debts. He steps in with his expert advice on ways to lead a stress-free life and constructive ways to start clearing your debt.

	BUY SELL HOLD SEGMENT

	News of Citigroup’s woes over the sub-prime crisis in the US battered bank stocks to their lowest levels in five years last week.

We talk to Roger Groebli, head of equity research in Asia for ABN Amro Bank, to ask - should we stay well clear of financial stocks or is this time to pick up some cheap buys?