Methodist Welfare Services runs a programme that matches $2 for every dollar of debt repaid by beneficiaries. Read more at straitstimes.com.
Social workers say that debt is one factor that keeps families trapped in poverty, and the ill effects of debt-related woes may spill over to the next generation.His family used to owe about $1,500 in utility arrears, and his wife had to borrow “small sums” of money from family and friends to help them get by.
He does not want to ask their four children, aged between 18 and 25, for money as they have their own families to support, among other reasons, he said.The programme “alleviates the strains of poverty” by helping families get out of debt and build up savings for a rainy day, said Ms Annie Goh, the programme’s manager.For every dollar of debt repaid by a beneficiary under this programme, the MWS matches it with $2 and this is capped at $200 per month.
Ms Goh said: “Debt clearance not only helps the families financially, it may also help them in other areas of their lives and help them escape a cycle of poverty that extends to the next generation.
“Being poor may make you more likely to turn down a training opportunity, avoid acquiring new skills or trying new innovations – all because there is too much on your mind.” There is a myriad of reasons why low-income families end up in debt, said those in the social service sector.Some do not earn enough to pay for necessities, said Mr Christian Chao, chief executive of Care Corner Singapore, a social service agency. This is because they may work part time or in gig economy jobs that do not give them a stable income.
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