SINGAPORE: A foreigner who works in the tech field in Singapore and earns around S$10,000 monthly shared on social media that he lost all of his savings and even incurred a S$100,000 debt because of leverage trading.
In a post on the r/askSingapore subreddit on Sunday (Dec 29), he explained how badly things had spiralled out of control.
“I got myself in a big financial mess,” he said. “I won’t even have a room in 2-3 days and will have to live on the streets until my next paycheck at the end of January. [I’m going to be] homeless for some weeks.”
The foreigner also shared how Singapore hasn’t been kind to him, as he’s never felt like he’s made any real friends here. To make matters worse, his family hasn’t offered any help either.
With nowhere to turn, he kindly asked strangers on Reddit for advice on where he could sleep and shower over the next three weeks.
“If there is a landlord reading this and can defer the first rent payment until 24th Jan, that would really help me out,” he said. “I can’t ask favours from work colleagues as that would affect my job. I am a genuine person who just hit hard by trading gambling addiction,” he added.
“You have a gambling problem. You need a change of mindset…”
In the discussion thread, several Reddit users offered advice and suggested he reach out to the Ministry of Social and Family Development (MSF) and Homeless Hearts of Singapore for support.
One user said, “Check out Homeless Hearts of Singapore. They’re in a network for rough sleepers in SG, and I’m sure they could assist.
Or check out the MSF’s Partners Engaging and Empowering Rough Sleepers (PEERS) network; many places provide sleeping arrangements for rough sleepers.”
Some users also encouraged him to seek help for his gambling addiction. One user pointed out, “You have a gambling problem. You need a change of mindset.
Wealth doesn’t come with luck. It’s accumulated over the years through hard work, careful spending, and long-term investing. It’s not trading (new age gambling).”
Other users, however, offered to personally help the man. One user commented, “You can sleep at my place; I allow late payments on rent.”
Another said, “I have a unit undergoing some renovation in the kitchen, so I can’t rent the whole place. The master bedroom is all good to live in, though. PM if interested.”
In a follow-up post, the man shared that a generous person had reached out to him through Reddit and helped him secure temporary accommodation.
He wrote, “A random, kind person booked something for me for 3 weeks. It was hard to believe people like these existed when even friends and family were nowhere at your low.
I must stop trading and get out of this with my work skills. Anyone reading this, please go into 2025 with no addictions and do the right things.”
In related news, a 26-year-old finance professional who’s been out of work since March this year took to social media to vent how challenging it has become to find a decent-paying job.
“I have since been attending numerous interviews but to no avail. Most job offers I received are super low paying S$1,500+,” he said.
On top of being unemployed, he opened up about the significant financial stress he’s been under. After losing his job, some friends suggested he try gambling as a way to make some extra income on the side, thinking it might help him get back on his feet.
Unfortunately, things didn’t go as planned. Instead of easing his financial burden, gambling ended up pulling him further down the rabbit hole, resulting in over S$20,000 in debt.
Featured image by Depositphotos (for illustration purposes only)