In a survey done in August 2014 by Cicero Group & commissioned by Blackrock, it was found that: Singaporeans (59%) lagged behind its Asian counterpart (69% average) when come to saving specifically for retirement. The top reason for not saving specifically for retirement was due to the high cost of living (61%) and the second top reason was not earning enough money (43%). In fact 70% … [Read more...]
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Singapore was ranked the world’s most expensive city for the second year running
Once again, Singapore was ranked the world's most expensive city for the second year. The survey, covers food, toiletries and clothing, domestic help, transport and utility bills. Source: http://www.straitstimes.com/news/singapore/more-singapore-stories/story/30-ways-live-cheaply-singapore-the-worlds-most-expensive#xtor=CS1-10 My comments: In the past, many people did not do any … [Read more...]
Average Monthly Cost of Education much higher than $1792 for each household
The Household Income And Expenditure 2012/2013 survey[1] showed that the average amount which resident household spent on education services is $310.3 per month. This was up by 5.7% pa compared to 5 years ago. The increase was mainly due to a larger number of students pursuing higher education, particularly university courses, household expenditure on university education increased, higher … [Read more...]
Middle-class Singaporeans are feeling more insecure, says sociologists from NUS & IPS
Middle-class Singaporeans are feeling more insecure due to Rising cost of living; Government social support targeted at lower-income groups and not the middle class; and They do not have the option to leave the country unlike the rich. This problem could have a broader implications on society. Middle-class serves as an aspirational category for the poorer class. As the aspirational … [Read more...]
S’pore one of most costly cities for the young, says Knight Frank
According to Knight Frank Cost of Living Index (Sept 2014): Out of 20 cities, Singapore is 5th most expensive place for graduates Singapore young graduate would have a surplus of 9.91% their net salary left at the end of every month once living expenses are covered. Young graduate in Hong Kong would have a deficit of 4.61% of salary after living expenses are covered. Sources: S'pore one … [Read more...]
