Editor's note: This letter was submitted by a reader. The views in this letter are his own.
Recently, I'm starting to wonder if I'm slowly slipping out of the "middle class" bracket and into the "low income" bracket.
My wife and I are both working and we earn average incomes, combined about 10K a month. Our children are in school and expenses are getting super high.
My car is 9 years old. When I went looking for cars, even a small Korean car costs over $100k.
I want to get a bigger flat because kids are growing and my parents are staying with us. But prices are ridiculously high.
My old retired parents stay with me. They have no savings. Food, medical bills, expenses, allowances are all taken care of by my wife and me. When you count income per person in my household, it is not alot. No lavish lifestyle... nothing of that sort. I can't kick my kids or parents out.
Last time can afford to eat chilli crab once in a while. Now crab is $65 a kilo. Cannot afford to eat anymore. Durian price also gone crazy. If eat out, little bit here and there also cost $50-$100. The $50 bills in my wallet use very fast... maciam flow out like water.
Getting old. Tired of this impossible rat race. You feeling the pinch too?