4 OUT OF 5 YOUNG S’POREANS DO NOT HAVE ANY SAVINGS

Survey figures released by EnjoyCompare.com said that most Singaporeans aged between 20 to 35 are one missed payment away from financial ruin.

The shocking survey revealed that most people of this age bracket risk losing their homes within 3 months if they were retrenched as they had no savings to fall back on.

25% of those surveyed had less than $6000 in savings while 36% of them had zero savings. In comparison, people in the older generation’s age group had an average savings amount of $60,000.

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