Tag Archives: cost of living

JOBSTREET SURVEY: SINGAPOREANS NEED S$6,000 SALARY TO SURVIVE COMFORTABLY IN SINGAPORE

The results show that 31 percent said that their salary can cover their basic needs and some small non-essential luxuries. 42 percent said it is only sufficient to cover their basic needs. However, 23 percent said they are struggling to make ends meet on the salary. Of this group, 70 percent earn less than $3000 per month. Only 4 percent said they were very comfortable with their salary. When asked how much they felt the salary should increase by to be satisfied, 66 percent of said it needs to be between 10 – 20 percent. According to Singapore Statistics, the average monthly wage in Singapore was $4,998 in Q4 of 2013. However, 53 percent of respondents to our survey identified $6,000 as the ideal monthly salary to deal with the current cost of living in Singapore.

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Ng Eng Heng: Higher aspirations one reason Singaporeans find cost of living high

SINGAPORE — Having higher aspirations in life is a reason why Singaporeans find the cost of living here expensive, despite real wages having gone up, said Defence Minister Dr Ng Eng Hen yesterday (May 10). But Singapore has to ensure that opportunities to get out of poverty must not be priced out and remain abundant to fulfil the dreams of younger Singaporeans, said Dr Ng.

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Feeling the tight squeeze in the middle

ASSISTANT MANAGER Raymond Koh, 38, is a man with many worries. He just sold his Housing Board flat below valuation to upgrade to a bigger flat for his growing family. He worries about the long hours his daughter, 14, spends in school; and about the primary school his six-year-old son will get into. His car's certificate of entitlement runs out in 21/2 years and he wonders if he will be able to afford another one. He frets about growing old, his children's future and whether they will have a better standard of living than he is having. "It will be very tough for them, that's for sure, because their income and the things everybody would want (like a house or car) don't match any more. The gap is very big," he says.

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Traditional businesses facing tough times

Take Mr Alan Wong, who worries about the future of his antique and vintage goods trading and restoration shop, Yasashii Trading, should any of his workers retire. "We face a lack of manpower because many Singaporeans do not have the skills needed to do restoration work," he said. The shop in Bukit Merah has three employees, all in their 60s and 70s. "Without them, I might have to stop the restoration part of my business and focus solely on trading antiques in the long term," added Mr Wong, 49.

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S’pore ranked 60th among major cities for average residents’ cost of living

Singapore may be the world's most expensive city for expatriates. But the cost of living for the average resident, which comprises Singaporeans and permanent residents, is much lower than many other global cities such as Hong Kong. A study by the Asia Competitiveness Institute (ACI) showed that Singapore is ranked 60th among 109 major cities for the average residents' cost of living. ACI said its study also showed that Singapore is the costliest city for expatriates -- in line with findings from a recent Worldwide Cost of Living survey by the Economist Intelligence Unit. This was largely due to the strengthening of the Singapore dollar against the US dollar in the last few years.ACI said the cost of living for expatriates is higher than that of average residents as it also reflects the lifestyle choices of expats. These include eating at expensive restaurants, living in prime districts and sending their children to international schools.

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Five things more expensive in Australia than in SG

Cost of living in Australia has been a perennial topic amongst both our friends, families, and readers alike. After I saw this BBC article about how SG is the world's most expensive city, I'd better caution those of you from there who may be thinking of visiting or migrating to Oz. Not everything is cheaper here!

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MORE SINGAPOREANS LEFT BEHIND

Every day, through eyes clouded by glaucoma, Peter witnesses the spending power generated by Singapore's economic success, knowing he can only afford to look. The 54-year-old shopping mall security guard is part of Singapore's hidden problem - a growing number of poor living on the margins in one of the world's most expensive cities.

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