What Is A Comfortable Salary In Singapore? | Hot Take
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- เผยแพร่เมื่อ 22 ต.ค. 2023
- How much do Singaporeans need to earn to be comfortable in Singapore? How greatly do lifestyle and commitment affect that amount? We hit the streets to find out how much is good enough!
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What is a comfortable salary to you?
currently 26yo single, living with parents and no commitments, 3.5k is comfortable
25M single, living with parents & no commitments, currently earning 4K before CPF & OT(~1.2k varies each month) would say it’s comfortable FOR ME…hopefully with my ongoing PT degree, it will help open up more doors in the future
At least 100k pa or about 8.3k a month.
Anything above 3K is comfortable for me. Unlike one of the lady, I don’t look at price when I eat at hawker Center.
If bring back 2.5k is enough for me
Try conducting this interview at different locations, such as industrial estates, neighborhood estates, tourist attactions etc. See if the outcome is the same.
Don’t think would be the same😂
I agree, I wonder what would the outcome be like if it’s done in Boon Lay instead.
interview outside google offices please v curious what my sister's response wld be 😅
Maybe try suggest to Our Malfunctioning & Obscenely Paid PAP Government to Introduce Whistleblower Legislation, especially to deal with the Waste, Fraud, Abuses, Corruption , Money Laundering etc which currently handled by “ Ownself Check Ownself “ Circus 🎪… Whistleblower Legislation must NOT Only Include Protection But also Monetary Rewards… Then Watch Heads Roll 😊
same location range between 3.5k to 15k
I feel like I've been living under a rock... their comfort and my comfort is a world of difference...
Time to Level Up🤘🤘🤘
ya sia.. i also think i living under a rock as well.
Sis/bro, we don't have to compare with others. All of us have different needs, desires and aspirations in life. And there's absolutely nothing wrong to be different from others who are striving for more.
At 37, and being the only breadwinner for my family of 2 young kids, i have remained contented with my current life- living in a 3 room house, dining at hawker centre and food court, and travelling on public transport.
Our live is simple yet happy. I spend quality time with my children and how many of us can claim this?
And yes, I'm a singaporean.. it would be overgeneralizing to infer from the video that it has to be 10-15k to be a comfortable salary in Singapore.
@caishengrandpa u sore grapes siah, u can just say everyone needs are different and we can learn to reduce our needs and be contented but u need to criticise them just because they earn more than you
they dont need to level up. lol comfort is subjective to one's choice.@@knock-knockwhosthere9933
i think it would have been better if the interviewer asked the participants to define 'comfortable' as everyone has different interpretations of it
_Always remember is not how much you earn but how much you can keep (& invest)._
_Inflated lifestyle is a silent killer to your finance, be careful of the comfortable choices you made._
its alarming how wide the pay gap in sg is. I know people who worked 10-20 years to reach 4k. I know people who start at 7k. I know people who've reached 20k at 32.
It's the same in every developed capitalistic cities.
For a normal Singaporean like me, no debts, flat is fully paid, no car, no kids, single, i think around 4k is very ok. can already travel 3 times a year, eat well, pay insurances and necessities.
what do you do for a living, my friend?
The first interviewee had a lot of realistic insights!
I think it's also important to be mindful of lifestyle inflation. It's easy to start spending more as your income increases, but being intentional about expenses can help maintain financial stability in the long run.
Hot take: A comfortable salary is one where your income exceeds your expenses, you are saving and investing at a rate that gives you confidence, optimism, and peace of mind about the future, and you are insured in a way that makes you feel secure and covered with peace of mind. That's my definition of comfortable, and I think it's better and healthier to define it on a psychological/emotional basis that is subjective and specific to the individual than to tie it to arbitrary dollar amounts.
thanks chatgpt
That 50 y.o. teacher…looks so youthful!
The answers you get from interviewing someone living in Orchard Rd vs one from a heartland would be very different. Interviewing someone in the financial district vs someone working in industrial estates would also yield different set of answers.
Someone has to say this: you can't always be asking people working in the CBD about topics like this.
We will be changing locations in future episodes!
This is a comfortable location for the interviewer 😊
@@TheSmartLocal unfortunately videos like this has already set an uncomfortable tone and misrepresentation of salaries. Ask yourself honestly how many of the interviewees are giving unrealistic responses. Their definition of comfortable is based on their daily expenses of working in the cbd and their exposures in their field of work finance/advert/recruit etc. The demographic is already wrong.
@@mulelos why is it wrong when the majority of working adults work in the CBD or comparable areas?
@@manofthehour_ I don't know if you noticed but such topics are always conducted in Raffles place. If your company is earning the top bucks to afford to be situated in Raffles place, chances are the employees are offered higher than usual rates and that puts them in a higher echelon. Like I mentioned, the demographics of the people working in the CBD, especially in the line of finance/marketing/Recruitment (i.e the sector they are in) churns out their perspective on what is a "comfortable lifestyle". And they're definitely not a representation of majority of working adults.
We don't have to compare with others. All of us have different needs, desires and aspirations in life. And there's absolutely nothing wrong to be different from others who are striving for more.
At 37, and being the only breadwinner for my family of 2 young kids, i have remained contented with my current life- living in a 3 room house, dining at hawker centre and food court, and travelling on public transport.
Our live is simple yet happy. I spend quality time with my children. How many of us can confidently claim that?
And yes, I'm a singaporean.. it would be overgeneralizing to infer from the video that 10-15k is a comfortable salary only in Singapore.
You have the right idea. If you have your wife and kids, and enough money to keep a roof over their heads, enough food, and access to education, you are a rich man.
Yo bro. We are in the same boat. Altho having a chance to upgrade to 4-5 room hdb house. I still hold on to my 3 - room. When you are earning quite good but still spend on good thing with lower cost. My current salary its not consider rich but its literally stress free financially.
@@Rzxxxj good for you bro. Yah. You hit the nail on the spot by saying our choice of lifestyle is stress free and we can then focus on other things in life such as fostering relationships with others, or self improvement, or serving the community.
Maybe you guys can do the interview in the heartland area to see what's the reality of how much average people earn to survive?
What makes you think the people interviewed don't live in heartland areas?
@@aero.l some may but you want absolute that they are living in the heartland and not a mix of landed or condos
I would think they interviewed in cbd because it has the most number of office workers and most Singaporeans are office workers
1. The interviewer is quite pleasant with very positive vibe. It's nice to watch her.
2. I don't think interviewing in CBD is wrong. We just need additional samples to more broadly represent the population.
3. It's not intended to be authoritative guidance. It's just an interesting, fun video to share what some people think is a comfortable salary. Of course, their opinions rely on a huge number of variables that will be different for each individual.
Interviewer seriously needs to lose weight.
According to a survey conducted by the Singaporean Department of Statistics, the average monthly income for Singaporeans is around S$3,500. However, the amount needed to be comfortable in Singapore depends on lifestyle and commitment. Those who want to live a comfortable life in Singapore should consider their lifestyle and commitment before deciding on an amount that is good enough for them.
Im assuming this interview was done in the cbd? Would appreciate if it was done in a mall on the weekend for example to get a more randamized group of people
Still appreciate the content tho!
We need to apply for filming permits at most areas, so not all venues are possible, but noted on your suggestion!
Yeah right outside raffles place mrt lol
Depends on your definition of comfortable lah. Some people need weekly cafe visits, monthly JB trips, 2x/week restaurants and Grab to and from work. Others are content to live simply with hawker center fare and invest the rest. Also there's medical bills, babies, and such to consider too.
People who kept screaming cost of living in Sg is high are defo the ones who are living beyond their means. It’s high because you sought for it. Housing ex? No, CPF is there to help. Medical ex? Govt subsidies/Medisave/Medicaid/financial aid is there to help. Car ex? As it should be for a tiny island with a pop of millions. But does it hinder you from traveling around? No. Sg has one of the best transport system in the world, you can’t walk more than 15mins without seeing a bus stop anywhere. Can’t retire? Again, we’ve CPF. It’s there to make sure those who’re living beyond their means/have bad financial management etc don’t go hungry. Wife & I each only earn around 4kish, we have a kid & a 5bedder house & are very comfortable. Ofc more $ is better la but people esp the young gen need to learn to live within their means. That also points to how life’s too comfortable & secure here, that people are chasing/greedy to satisfy their wants. Not a bad thing, but within your abilities. You can’t be blaming the govt for you spending > earnings. Because it’ll never be enough
Most sensible comment of the day. Always live within your means, if you don't, even a million dollars salary is not enough.
except maybe it really is for those who don’t have somewhat of a headstart in life.
23, living alone, (obviously due to circumstances). it’s not enough. rental prices here take up about 40-50% of what i make. with basic expenses - food, transportation and bills; it’s pretty much a paycheck to paycheck lifestyle for others out there in similar situations.
@@reubenkoh sorry to hear that but I don’t deny that there may be some that are struggling, as of every country. Rental prices are mainly driven by supply and demand, maybe you can get friends to share the rent? Have seen a few TSL people doing it. Also, upskill etc to try to get a better paying job? How do you think you can make your life better?
Thats why the video is about comfort not bare necessities. People can survive just by eating bread and drinking tap water everyday, but that does not mean comfortable. Medical will be ex for long term illnesses, subsides will only help you to a certain extent (ie. They will make sure you pay all you can (ie. No savings, lend from family etc) before helping you fully.
Well done ! I really like your video.
Keep it up!
Best advice ever - "Live Below your Means"
I do agree with the comments saying that the same interview should be conducted in the heartland area. There’ll be a more diverse range of occupations too.
What I gather from this video.... Recruiter and financial planners are very free lol
YEaahhhhhh!
After watching this, I'm like questioning if I should jump job more often to reach my salary goal. 😂😂
or just apply for a masters degree 😂
@@Claudia-cy6ou may or may not be useful. If employer don't want to pay you for your role.
The more you want, the more you need to earn so boils down to expectations. Ofc 5k is not enough if you want to live in a condo/drive a conti car.
Especially the one who trying so hard to flex/impress others for the status, the truth they are living in hell with those debts. And you kinda think to yourself they earn more but having financial problem. While you earning lesser than the person , is living life happily.
Thank God for closed captions to help us English speakers understand all the Singlish!
I think a base salary most people can start saying they can be somewhat comfortable is $3k sgd after CPF. That is for a single person.Then you try your best to improve that as you get older.
Just daily food and transport in SG will amount to a significant amount. Sure everyone has different lifestyles and how they live life but it's hard to disregard the fact that SG overall is an expensive country. Even if money isn't all that important to you. Living life in SG requires you to be aware of your financial status and responsibilities. You want to at least be able to retire decently on your own terms without dependency on others.
A little bit outdated bro... nowadays even poly graduates would demand $4K a month, which is actually reasonable considering the tremendous rise in cost of living.
@@LLcreates its reasonable amount. But for poly graduates or holder, i dont think majority of companies willing to pay that amount, most would probably offer 2.4k-2.8k. Unless its on specialise market like aerospace, nursing and i.t etc.. could possibly earning near to the amount of 4k. Nowadays diploma holder is a common thing, is acheivable kinda thing. Almost every household has atleast one diploma holder. The only thing to blame is we should have minimum wage to prevent companies to underpay.
@7:46 takes at least 20years? Meanwhile, interviewee is 34, so... Does that mean she started working as financial planner since age of 14? 👀 The math doesn't make sense.
5:40 howwww is she 50?????? she looks 35 max omg.
Look at places like ang mo kio. Many rental flats. Kids are on financial assistance scheme. I think as a single , $3 to 5k is good.
even 10k still a bit challenging to own a Condo and a car in Singapore ... 5k is HDB and no car.. that's life
$10k is comfortable for HDB and a car... u want to own condo and car with $10k/mth, you'll have to make sure you pay your car in full, no car loans...
I love this episode! Thank you
I think the salaries in the banking, finance and marketing industry really varies alot..compared to other industry…ultimately depends on your lifestyle and choices…I feel that 5k after cpf would be comfortable for single…
Thats why is good to go for specialise kinda job. Like aerospace/engineering. Even with higher nitec or diploma you can earn well. Soon with experience its going to bring more money.
With weddings, housing and renovation, payout to parents, loan repayments... and eventually kids, I would say at least SGD 10k a month at least :")
If you’re paying for a mortgage largely using CPF 5k should be fine for a single. If you’re renting, double of that. Family of 3 at least 8k. If your spouse is also working then 10k total can still include traveling as a family and comfortable with some savings. If you are also paying for a car, then you will lose all your financial freedom and won’t be able to save up for your kids college education.
Be realistic in your expectations. Don't throw unrealistic salary in the air. Just focus on your job.
The first interviewee is so down to earth and gave good insights. She is pretty and well endowed too
Depends where you are in life, but reality of comfortable is if you have 2 child 12k is minimum. you could survive with a combine income of 4k but it's a hard struggle. thats the sad reality of singapore now.
Think must strike TOTO (Lottery) to be comfortable in Singapore
I think we should define what is comfortable. What’s comfortable to you may be basic needs to someone else 😆
Do at pasir panjang mrt la and ask the port workers. We will be more than happy with 3k salary after cpf to be in comfort zone.
If you or your family owns an apartment, you can live comfortably with a lot less, especially if that apartment is fully paid for. And there are many Singaporeans who have parents who paid off their 20k-100k HDBs ages ago. Hot take but daily expenditures in singapore is actually not that hard to afford.
We felt poor when we lived in SG even though we made $300,000 a year. A lousy Corolla cost $200,000. A condo was at least $1 million back in 2013.
Interesting video. I was getting depression and anxiety with insomnia after spending lots of time reading the salary forums in Singapore. Over there it seemed like everyone was in their 20s and early 30s and making upwards of $20k a month. Some a lot more. The answers randoms on the street seem a lot lower.
bro u sure u reading Singapore forum anot. fresh grads in their 20s earning 20k? whatever forum u using stop reading. no wonder u getting depression
im 31 (single) and earn abt 3k per month but already hv $65k in savings 🤭🤭 spending habits plays a part
Make sure U don't get scammed like those in Crimewatch
by 30 as a single you should actually be aiming for at least $100K in savings, as a comfortable average and healthy financial progression in SG
@@LLcreatesWill hit that amount real soon!
Not enough dude, if you ever want to start a family that amount would be wiped out with buying the house, getting married and medical fees for baby. You want retire you need more. Unless you are happy with the very bare minimum, eg. B, C class wards in public hospital, cai png most days, 2 room flat
@@joesr31well, glad im entitled to heavy subsidies for medical expenses and im content living moderately. You just need to know what are ur needs and wants.
Depends, 4k with family is not comfortable imo. But I guess there will be different definitions of comfortable. 4k for single living with parents its comfortable. With no plans for housing, serious illness etc. Enough to eat restaurant 1-2 times a week, can travel 3-4 times a year. Have some in savings and can cover daily expenses.
4k is for single genz with no responsibilities. Too little for anyone older
It all depends on one's lifestyle choices and current situation. If one lives beyond their means and have NOT save up previously, then no amount of salary will be enough.
Want to buy new car ....20k a month and climbing…. New Toyota Altis drivers here can buy Merz EQS450 in JB 😑
The amt listed is only applicable for Singaporeans who have access to hdb 😂 as foreigners you have to make way more to live a comfortable life just so you can afford the ridiculous rent in SG 😅
45M, Household income 4k is very comfortable for my family. In fact, we save 25% of it, invest 25% of it and spent the rest. We do eat at restaurant at times, 1-2 oversea trip per year. (this year we went to Melbourne and Las Vegas)
How? Do you have kids?
Yes, 1 and he is 18 this year.@@kabuki4103
Yes 1, he is 18 this year@@kabuki4103
Is all depends on individual, everyone have different life style. Some group of people love eating restaurant, buy branded bags, shoes, watches n jewellery. This group of people will have to earn more then others in order to achieve. Unlike the other groups of people Don bother what others have. But just wear very simple n eating home food most. 😅😏
All the 25-26 look so much older 😂
You needs to earn 25k per month, minister earn millions therefore local people must earn 25k and above to live comfortably.
Some say comfortable, some say it's enough. So it depends
Choose your industry carefully, if everyone in the CBD is feeling that these figures are attainable and you can't, there may be something wrong with your life choices. To the young people out there who thinks what they do during their secondary school will not affect their future, you are wrong. You do not wish to be stuck in a place that you have no choice but to choose the course available due to your results. Yes there are successful stories out there but that is only a very small percentage.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to build generational wealth and cultivate financial knowledge, you must be in the market......
I agree with you and I believe that Professionals are currently dominating the market since they have access to both the necessary strategy for making money in this industry.
That's awesome to hear. I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs
Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
@@ridg3rs I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch with him.?
@@Florencecoxx I get guidance from *Mr Gary Mason Brooks* . Most likely, the internet should have his basic info..
They are so humble, values presented are so low, to live at least normally with family - need 30k per household, for comfortable life with family and 2 kids - around 50k per household
Reality: 9-5 office workers earn more than the worker out on the streets. Brain work are paid more vs physical work.
The real question is more like what is your definition of comfortable life in Singapore.
wonder how TSL can get better interviewees than those national tv...
Love the way you introduce a topic that is considered taboo!! Trying to do the same here :) - GetFed
There is a lady in black saying she is 24yrs old? And she took 20yrs to reach where is now? Wtf. 4 years old she start as a financial planner?
A women don't tell their real age lor
Best is got good health than only prosperity.... Got 3k want 5k - want 10k - 20k also not enough.
Chinese idiom: you will be always comfortable if you know how to manage your expectations.
bloody fk and i thought 5k is considered luxury already
Its base on how you utilise your money. Im earning 3.2k. Its not consider luxury but its comfortable. Even now having a kid. Its livable. And if your significant other are willing to work things out financially , absorb some burden of your shoulder. It would be great. Those 80k and above per year earning, reality wise the percentage of people earning this amount of money is low. Its shows singapore still livable country financially its just you need to be wise with your wants and needs.
@@Rzxxxj ah, good to know. thanks!
Must factor in yearly price increase and you know pay increment cannot match price increase, therefore have to make alot higher in order to meet the next 5 years prices. Else, within 1 decade and you are in financial difficulties. Governent never ask if you earn enough before increasing taxes and prices right? They just do it when they needed it.
I guess it's always about lifestyle management. You can be earning 15k a month, but that might not be comfortable for you if you live lavishly. The upper limit doesn't exist you know...
Maybe can try to go other places next time cos the deomgraphic that was interviewed is... questionable
They want condos and cars, or course need $10k++ salary and more lah!
I’m so uncomfortable right now. 🙃
😂😂😂
We don't have to compare with others. All of us have different needs, desires and aspirations in life. And there's absolutely nothing wrong to be different from others who are striving for more.
At 37, and being the only breadwinner for my family of 2 young kids, i have remained contented with my current life- living in a 3 room house, dining at hawker centre and food court, and travelling on public transport.
Our live is simple yet happy.
And yes, I'm a singaporean.. it would be overgeneralizing to infer from the video that it has to be 10-15k to be a comfortable salary in Singapore.
@@lecherhao86 the greatest wealth is contentment.
10-15k sounds very very comfortable in Sg
It's not that comfortable for me... For me, 25-30k is comfortable. "Comfortable" is so subjective as to be almost meaningless.
When u say salary is before or after CPF deduction?
Depends on age, gender
World most expensive country to buy a car but taxi & ride hailing ride fare are way very low comparing to other major economies. Have anyone ever thought about it, driver daily overhead such as rental/lease, petrol, carpark and many more.... everything are getting expensive but fare are still pathetic.
For driver, more daily trips plus longer working hours. How to have work life balance like that?
Western tourist also wonder and ask driver how they earn with low ride fares in Singapore.
10 to 15k?! Geez what yall spending on?😂
4k easily plenty to me as a single (assume no debt , no rent). In fact
You no need to support your family huh
10-15k is real talk.
Try raising a kid or two, paying a mortgage and taking care of your aging parents. Even 10k won't run you very far.
Time to up your game kid.
You said that as you still living with your parents I assume and not married with kids. If one wants a comfortable lifestyle with a car, condo, twice yearly vacations, then obviously 10k also not enough. However if you are contented and reduce your desire, then I guess that is fine.
in sg idk 10k Is hard to achieve actually. the salaries here are quite generous. depends on where you look for jobs
I’m single and I feel 7k is still not enough to buy house, get married and have kids.
If you earn more than 7k single, you can't buy an HDB 😢 if you level up more, have to buy private which means you will end up spending more
Depends on what kind of house you wana get. 3 room flat sure can (depending on cpf/savings). GCB sure can't. 😂
@@HeyHaffiz >7k as a single cannot BTO but can resale la. 7k confirm cannot afford private.
@@junxian3014 can afford but means will have to spend more and cannot save more money to invest for future
@@junxian3014 what? 7k definitely can afford if you buy smaller units and have enough for the 25%
Please interview the msinsiters....see what is enough ? .....I believe this will be interesting....😅
Yupp definitely need 50k like ministers to live comfortably
I don’t think it’s a good mentality to earn a certain amount of money to be “comfortable”. If you earn more then I feel you should do more to make good use of the money and not thinking how to be comfortable. If you earn more maybe you can start a family and have kids if single and no siblings then you will have aging parents to take care. I’m not so privilege to have earn as much as 4k but i strife to have a family with kids.
It doesn't matter how much you earn, it's how much u can save every month that matters. I'm the sole breadwinner in my household, got no kids, we eat a lot of coffeeshop and hawker centers (honestly enjoy the variety and flexibility), and can save about $8k avg every month after deducting all taxes and expenses (we have our own house and car). We are comfortable and happy in Singapore!
Its all about spending
living simple
of course you can pay/buy experiences over time, but building the nest and compounding takes precedence. Many young peers around me dont have that grit
Its a capitalism fueled world out there
There are many things you actually dont need, and no, you wont lose out even if your kids dont get these enrichment classes. Better to teach kids financial literacy growing up , general knowledge etc than being book smart .
Imagine asking for tips to grow wealth and gave an example like save money
Live one or two levels BELOW your income. Let the indulgences come occasionally, not frequently.
I am earning 8k at 31 yo I don't think is comfortable leh??
Hmm.. combined income between a couple is 7-10k but individuals 7k?
meanwhile with my 1800 take home pay with God knows what i have to pay every month...
4:49 the gal is korean hong kong or ABC?
live within your own means. and don't splurge then you can live well
i think AGE plays an important part of comfort level
I would say its the stage of life you're at rather than age. E.g. You're 21 and married with kids as well as having to pay for a house, you'd probably have a heavier financial burden than a 30 who is single and staying with parents.
Its not how much you earn. Its how much you save and your monthly expenses. i earned $2.5K but after deducting parents monthly allowance and other purchases, I can still save up to $1K to 1.2K every month. Those who earn 4K to 5K may earn a lot, but they also spend a lot, and at the end, the actual savings can be lesser than mine.
what makes u think they save lesser lmao. I earn 9k and i save around $6k a month
@@user-cp9ot2vl1m That's good to hear!
omg Michelle 7:29, so humble. iykyk
@@caishengrandpaI’m so confused by her response also 😅
@@caishengrandpanot sure also but maybe is 34 haha
@weetabear she said 44
Go to heartlands area ask the common folk la...you go CBD area ofcourse their standard like that already😂😂...
if the folks in cbd are saying 5K then the heartlands number is going to be much lower.
Folks in CBD are saying >>> 5k man
I hear them also getting scared liao 😂
4k per week or 4k per months
Try asking the people from coffee shops and markets.
This program is in English and interviewed at CDB and seems target to those educated and higher spenders group. Some being interviewed holding drinks costing a plate of chicken rice at coffee shops.
The 50 year old lady should be a model.
I'm in UAE but i want to in Singpore
HI
Is USD $4000 enough to live comfortably??