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Nearly half of singaporean households subsisting from paycheck to paycheck

makapaaa

Alfrescian (Inf)
Asset
[h=1]NEARLY HALF OF SINGAPOREAN HOUSEHOLDS SUBSISTING FROM PAYCHECK TO PAYCHECK[/h]
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2 Oct 2014 - 9:02pm





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leehsienloongpointingfingers_zpsefb36004.jpg

Donch complain. You Voted for This! *hee*hee*



Savings rates are way too low across the island.
Here’s an uncomfortable truth about Singaporean households: a report by CLSA revealed that almost half of households across the islands are saving less than 10% of their monthly incomes, leaving them unable to cope with unexpected financial expenses.
The report revealed that 30% of Singaporean households save less than 10% of their incomes, while an alarming 14% have no savings at all.
Majority of elederly respondents are not saving money during their retirement, as most are focused on enjoying their money during this period. However, a high proportion of residents in their 30s and 40s are also unable to save.



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Unsurprisingly, 73% of low-income households are saving less than 10% of their monthly income. However, an unexpected 37% of the top-income bracket is essentially spending everything they earn.
“In our view, as a result of the low savings rate, the high proportion of total wealth in non-liquid assets (eg property, CPF, insurance) and high optimism about future earnings potential, 47% of households do not have enough funds readily available to cope with unexpected financial expense,” stated CLSA.
Source: Singapore Business Review
 

halsey02

Alfrescian (Inf)
Asset
3/4 of their pay checks go to pay for indirect taxes, e.g. ERP, GST...; then to an expensive government, & next all the business related to the PAP..like PCF run facilities, NTUC run facilities & business...GLC's companies &....

leaving about.....1/4 if they are lucky or up to only 1/8 for their 3 meals ( you choose the type), children education....etc , you go ask around... people will shrug their shoulders & say " how to save"...

but...are they that poor?? these "poor things" with "special needs"?? no...their CPF have money....yOUR money...ha ha ha...SINgaporeans....don't know what to say?:p
 

laksaboy

Alfrescian (Inf)
Asset
According to the doctrine of neoleeberalism, it's their fault for not working hard enough. :wink:


Read this if you have time. About 200 pages, but a great read (if you're not some illiterate non-reader who revels in ignorance).

A Brief History of Neoliberalism
http://www.sok.bz/web/media/video/ABriefHistoryNeoliberalism.pdf


Excerpt
The case of Singapore is particularly
instructive. It has combined neoliberalism in the marketplace with
draconian coercive and authoritarian state power, while invoking
moral solidarities based on the nationalist ideals of a beleaguered
island state (after its ejection from the Malaysian federation),
Confucian values, and, most recently, a distinctive form of the
cosmopolitan ethic suited to its current position in the world of
international trade.
 

eatshitndie

Alfrescian (Inf)
Asset
instead of investing every saved cent on something else that yields a better roi, sinkies would rather burn their paychecks on the latest frivolous upgrade, just so they can show off their new shiny gadgets. :rolleyes:

sinkies waiting in line for the iphone.....
image.jpg
 

greenies

Alfrescian
Loyal
instead of investing every saved cent on something else that yields a better roi, sinkies would rather burn their paychecks on the latest frivolous upgrade, just so they can show off their new shiny gadgets. :rolleyes:

sinkies waiting in line for the iphone.....
View attachment 17374

How can you say that they are all sinkies?
We have proportion of 45% foreigners, and from my experience in dealing with them, they are filthy rich.

They can afford dinner of $300 per head at MBS, Ion Orchard etc.
They can afford Herme, LV, Gucci, Prada, Vertu... without blinking their eyes.
They can buy stretch of property, whole floor (4 to 10 units) of condo units.
Their buying power causes huge inflation on our food costs, property price and office/ home rental.
To serve them, we import cheap labour including PMETs.

In fact this place has already become the riches and elites' heaven.
 

soIsee

Alfrescian
Loyal
You ppl can pass comments here. I bet you are one of those too.

Living in a high cost environment leaves you without an escape route.

As a matter of fact, this was a serious matter 10 years ago. Now this issue is already way pass critical stage and many like you will regret this soon. Think 2016 is your escape route?

Dream on lah. LoLoLoLoL
 

winnipegjets

Alfrescian (Inf)
Asset
instead of investing every saved cent on something else that yields a better roi, sinkies would rather burn their paychecks on the latest frivolous upgrade, just so they can show off their new shiny gadgets. :rolleyes:

sinkies waiting in line for the iphone.....
View attachment 17374

How to show off when they boh lui?

Median takehome income is $1700 ...that's not alot of money to live off in one of the most expensive city in the world.

Come on back to help us. We know you have lots of shit ideas to help sinkees become rich. :biggrin:
 

eatshitndie

Alfrescian (Inf)
Asset
How can you say that they are all sinkies?
We have proportion of 45% foreigners, and from my experience in dealing with them, they are filthy rich.

They can afford dinner of $300 per head at MBS, Ion Orchard etc.
They can afford Herme, LV, Gucci, Prada, Vertu... without blinking their eyes.
They can buy stretch of property, whole floor (4 to 10 units) of condo units.
Their buying power causes huge inflation on our food costs, property price and office/ home rental.
To serve them, we import cheap labour including PMETs.

In fact this place has already become the riches and elites' heaven.

having wealthy foreigners in sg is a blessing and lesson for sinkies. they pave the way for what and who sinkies should aspire to. otherwise getting stuck in a comfortable cocoon with a myopic vision doesn't help much to stick spurs into their hides. for decades, thanks to the astute policies of the pap, sinkies have been looking down on the poor and desperate from neighboring cuntries and treating them like shit. but now the table has turned, the same pap has made sg friendly to the wealthiest in the world. sinkies are now the underdog, and the natural reaction is envy and jealousy. but they can take a page from these top 1% of the world and learn to be more like them, rather than loathe them. those who refuse to learn will naturally kpkb. :rolleyes:

in a similar societal revolution, the "ordinary" folks in sf who have lived here for decades are losing out economically and financially to fresh techies who have mostly arrived from out of state (imagine most of the talents from the other 49 states congregating in sf bad settling for jobs) and complaining about being squeezed out of existence. it's the same social mechanics anywhere when the rich start to become a force to be reckoned with.

http://kalw.org/post/haves-and-have-nots-san-franciscos-mid-market-district
http://www.sfweekly.com/thesnitch/2...are-perhaps-that-explains-this-cars-condition
http://www.marketwatch.com/story/san-franciscos-haves-and-have-nots-2013-06-18
http://news.yahoo.com/condo-vote-st...zcgRwb3MDNgRjb2xvA2dxMQR2dGlkA1RBVVMwNDlfMQ--
 

eatshitndie

Alfrescian (Inf)
Asset
How to show off when they boh lui?

Median takehome income is $1700 ...that's not alot of money to live off in one of the most expensive city in the world.

Come on back to help us. We know you have lots of shit ideas to help sinkees become rich. :biggrin:

die die must squeeze blood for money to buy - one of sinkies' maxim.
 

frenchbriefs

Alfrescian (Inf)
Asset
u know sinkies might be a bunch of fucktards but u gotta sympathise with them,their governments are a bunch of filthy rich money bags greedy scrooges that thinks welfare is the anti christ and tries to squeeze every drop out of them in whichever way possible to the point where price hikes are considered the end alll be all solution to everything,and they love nothing more than cheaper better faster and low stagnating wages.

but i diagress....PAP is the BEST!!!!!
 

winnipegjets

Alfrescian (Inf)
Asset
I thought or gdp per capita is 65,000? How can this be?

Hong Kong people are rich too. According to the International Monetary Fund and the World Bank, Hong Kong's wealth (as measured by GDP per person) is higher than that of the United States or Canada.

Do you think that Hongkees think their lives are better than those who live in US or Canada?
 

winnipegjets

Alfrescian (Inf)
Asset
having wealthy foreigners in sg is a blessing and lesson for sinkies. they pave the way for what and who sinkies should aspire to. otherwise getting stuck in a comfortable cocoon with a myopic vision doesn't help much to stick spurs into their hides.

These foreigners wouldn't have gotten rich if they had to start in sinkapore where every business is tied or own by the government. Plus you need all kinds of licence.

You can sell hotdogs in SF at the roadside; in sinkapore, you need at least $50k to be a hawker. So, how to be enterprising in sinkapore?

Sam couldn't be rich in sinkapore as his trade was not allowed in sinkapore.
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
47% of households do not have enough funds readily available to cope with unexpected financial expense,” stated CLSA.
Source: Singapore Business Review

This is a result of poor financial decisions and lack of financial discipline amongst many individuals who indulge of frivolous pursuits and unnecessary retail therapy. You can't blame the PAP for poor personal decisions. Parents should be the ones who shoulder a large portion of the blame for failing to inculcate the values of thrift and deferred gratification in the current generation.<style>.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style>
 
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