https://sg.news.yahoo.com/live/60-o...ey-reveals-singapore-live-news-013507349.html
Live
Updated 9 min ago
Fri, 22 August 2025 at 2:00 pm SGT
Rising costs, stagnant wages and aspirational spending push Singaporeans into pay cheque-to-pay cheque living. (Photo: Getty Images)
Singapore’s savings culture is under pressure as 60 per cent of workers lived pay cheque to pay cheque in 2024, according to a study 2025 ADP Research as reported by CNBC . This figure surpasses regional peers like China and South Korea, highlighting a growing financial strain. Experts point to rising costs, stagnant wages and lifestyle inflation as key drivers. Younger Singaporeans are prioritising spending over saving, contributing to the shift.
The middle class is bearing the brunt of this trend, with most pay cheque-to-pay cheque earners falling into the middle-income bracket. Wealth managers report that 60–70 per cent of clients seeking financial help are from this group. Housing costs, lifestyle spending and declining real wages are eroding financial stability. Singapore’s savings-first identity is rapidly evolving.
Singapore’s migrant workers are more satisfied than ever, according to a Ministry of Manpower's (MOM) 2024 survey. With 95.3 per cent expressing contentment and 96.7 per cent planning to stay or return, the city-state is cementing its reputation as a top destination for foreign labour.
Trust in MOM’s protection, safe working conditions and improved practices like electronic salary payments and passport retention are driving the positive sentiment. Employers are also playing their part with training and benefits. But challenges remain, with employers expressing concerns in recruiting workers with the right skills. More on MOM's migrant worker and employer survey here.
Live
Updated 9 min ago
60% of Singaporeans live pay cheque to pay cheque, report finds; Migrant worker satisfaction hits record high, MOM survey reveals.: Singapore live news
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Yahoo News SingaporeFri, 22 August 2025 at 2:00 pm SGT
Rising costs, stagnant wages and aspirational spending push Singaporeans into pay cheque-to-pay cheque living. (Photo: Getty Images)
Singapore’s savings culture is under pressure as 60 per cent of workers lived pay cheque to pay cheque in 2024, according to a study 2025 ADP Research as reported by CNBC . This figure surpasses regional peers like China and South Korea, highlighting a growing financial strain. Experts point to rising costs, stagnant wages and lifestyle inflation as key drivers. Younger Singaporeans are prioritising spending over saving, contributing to the shift.
The middle class is bearing the brunt of this trend, with most pay cheque-to-pay cheque earners falling into the middle-income bracket. Wealth managers report that 60–70 per cent of clients seeking financial help are from this group. Housing costs, lifestyle spending and declining real wages are eroding financial stability. Singapore’s savings-first identity is rapidly evolving.
Singapore’s migrant workers are more satisfied than ever, according to a Ministry of Manpower's (MOM) 2024 survey. With 95.3 per cent expressing contentment and 96.7 per cent planning to stay or return, the city-state is cementing its reputation as a top destination for foreign labour.
Trust in MOM’s protection, safe working conditions and improved practices like electronic salary payments and passport retention are driving the positive sentiment. Employers are also playing their part with training and benefits. But challenges remain, with employers expressing concerns in recruiting workers with the right skills. More on MOM's migrant worker and employer survey here.
