I liked this letter to the forum page (Asiaone) ...if only there were more of such people around, then Singapore would not be such a stressful place.

HDB flat, two kids, aged parents - and debt-free
Oct 13, 2006 The Straits Times

I REFER to the letter, 'Govt should relook income qualifying levels' (ST, Oct 7), and the writer's reason for buying a private property and not having children.
My husband and I have two young children and are totally debt-free. Even though we each hold a master's degree, I chose to be a stay-at-home mum to nurture our children. Despite surviving on a single income, we are debt-free.
We have paid fully for our home and car. We give our children a good standard of living and education. We support aged parents. We also set aside enough for rainy days and are saving diligently for our retirement.
The key to financial freedom is to live beneath your means.
We could have bought a private apartment with a loan but we chose to live in a five-room resale flat, paid for with our CPF.
We could have bought a BMW with a loan but we chose to buy a Toyota, paid for in cash.
The interest savings from being debt-free could be used to support one's aged parents and young children.
Subsidies should be channelled to people whose needs are greater than ours.
Allison Yeo Li Hwa (Ms)