Are All Singaporeans Rich? | Street Interview
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- เผยแพร่เมื่อ 2 พ.ค. 2024
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Did you know that Singapore currently shares the title of the world's most expensive city with New York? In fact, this city-state is consistently ranked among the world's most expensive cities, from having the highest car prices to being the costliest place to shop for clothes. But what is life like in such an expensive city, and how are Singaporeans coping with the rising global inflation rates? We hit the streets of Singapore to find out.
The views expressed in this video do not represent that of Asian Boss or the general Singaporean public.
0:00 - Intro
0:34 - What's your salary and job?
2:41 - Are all Singaporeans rich?
4:12 - Examples of high living costs in Singapore
6:02 - How much is rent in Singapore?
8:14 - How expensive are cars in Singapore?
9:56 - How are affected by inflation?
11:45 - Do you struggle financially on your current salary?
12:25 - Comfortable salary to live in Singapore
14:39 - Why is Singapore more expensive than other Asian countries?
16:34 - How worried are you about your financial future?
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For the non-Singaporean viewers, cars are not a necessity, as the interviewers might mislead you to believe. It's a very very small country with a very efficient public transport system. Cars are more of a want than a need and can sometimes turn into a liability if you aren't earning enough to afford the monthly expenses.
Also, there are much cheaper alternatives to 8 dollar lattes. We do have our own coffee culture and a cup of local coffee would cost under 2 dollars. You could get a bottle of beer at a local eating house for under 10 dollars or pay 20 dollars for a pint an upscale bar. You could get local noodles for 5 dollars or pasta for 10 dollars. So it's really about where you go and what you look for. But Singaporeans love indulging in the latest trends and of course that will be costly.
Not saying Singapore is cheap but you can find cheaper alternatives when living here if you're willing to live a simpler live, which is still pretty decent.
Edit: So many Singaporeans throwing a tantrum over the car comment. Needless to say, there will be people out there who absolutely need their own transport but for most Singaporeans, there are alternatives like car-sharing and ride-hailing services, alongside our trains and buses. Not being able to own a car doesn't mean you're oppressed or there's a conspiracy against you. There's simply not enough land nor the infrastructure to hold so many cars and traffic congestion is bad enough as it is, no need for it to get worse. Yes cars are expensive but not without reason.
Limbei live in west. How accessible ? Go orchard also 1 hour plus
Actually to ask people questions like “Do you think you are rich” or alike will never give positive result because nobody will EVER say “I’m rich enough”
@@juniorjr5328lan lan suck thumb lar
Aren't citizens of a successful country supposed to be able to also enjoy its luxuries? Instead of scrimping and saving
@@juniorjr5328long journey time doesn't correlate to accessibility. silly Lim bei.
One thing I feel that most don't talk about is the fact that Singapore allows you to choose your preferred lifestyle. You can have simple lifestyles where public transport is affordable and readily accessible, hawker food and food courts are relatively affordable at $4 - $5 a meal and if you want to have a baller lifestyle, you've also got a huge array of luxurious restaurants and drive your own car. This is of course if you live within your means, i.e if you have a modest income you live a modest lifestyle. It's only a problem if you try to live outside of your means. Grass is greener wherever you water it - focus on improving yourself :)
Touche.
Yes "allows" 😂😂😂😂😂😂
agreed
Wow 🤩 so nice they allow you 🤣🤣🤣🤣
Yes, it "allows" one to live a simple lifestyle. But if one wants to get married, have children, that is already out of the scope of a simple lifestyle that can be supported by a normal salary in Singapore. My friend that recently BTO is struggling with housing payments and has to pretty much forgo all leisure activity that costs money. At this point, we have to ask ourselves, is this the way to live? To merely survive?
Oh and I have to mention, the housing payments that people are struggling with? That house is on a lease that only lasts for 99 years tops, so forget about intergenerational wealth transfer for the average guy and gal with the average salary. This is how my government keep the average people under the thumbs to continue slaving for the GDP growth they so crave.
The last guy quote , ( If you can make it in your own country , you don't have to leave your family for that ) . That is some wise words :)
Unfortunately, most Singaporeans who can leave, in fact, actually do. 3.9 million Singaporeans, 300, 000 are living abroad and not just working.
I had an opportunity to study in SG for a semester last year and I have to say that I absolutely love my experience. Fortunately, I got to have local friends rather than only hang out with other international students, and I have to say that getting to know the local is the best way to immerse yourself in this experience rather than sticking with only tourist places like marina bay
if you studied in Malaysia, u sure will having better experiences, in that case.
I will be doing the same next semester! Any tips on how to make local friends?
*immerse
@@vanillex5882 good luck with your study there! I think the best way to meet the local is probably strike a friendly conversation with them. Most of the local friends I met don’t really go out of their way to talk to a stranger normally so I usually talk to them and ask for help first but most Singaporeans seem to be very friendly and are willing to help so I’m sure you’ll be just fine!
@@stevethea5250 appreciate correction! Love how we have…English teacher checking the comment section 😊
As a broke singaporean poly student, answer is 'No'. But that being said although our house and cars are crazy expensive here, at least our daily necessities like food and public transport are still quite cheap as compared to many other countries. You can still live in singapore comfortably if you opt for the cheaper options like dining at hawker centres or food courts instead of restaurants.
Our transport is very expensive, starting fare for bus is $1. Our food is not cheap, coffeeshop selling $8-$9.
@@Steven-qs7zp brother what kind of coffeeshops are you going to
@@eugenelim8469 coffeeshop at HDB estate.
@@Steven-qs7zp Bro my local coffeeshop selling food at $3-$5 oni
@@Steven-qs7zp our public transport is very cheap What are you on.
It’s like on average $2.5 each way.
My bus to work from west to cbd is $1.67 to $2.50 each way. Depends if I take normal bus or city direct bus
As a regular tourist in Singapore, I could live off from their hawker centres. Their public transpo is so efficient too and pretty much most parts of it are walkable.
Simply because you are tourist. If you do it for long term. You’ll get tired of it
@@marvint480 I am tired already.
Public transport is said to be one of the best in the world. But if you do not come as a tourist, and if you really depend on it, it's not always the beautiful heaven as it seems. When it is raining, for example. Or from my place to T4 at the airport, 1:40 h, with luggage ... hmmm. Or imagine buying grocery with two small kids in tow.
And because the rents are increasing to intergalactic levels, things can get difficult for small businesses. For example, many food stalls at popular places have to close now. They simply can not pay the rent anymore. Someone who has to pay 10,000 $ rent has to cook a lot of plates food before he starts to earn for himself. And as we are on it, I really regret the downfall of all these Mama-Papa stalls with their often individual delicacies. They had been replaced by food chain food. Last time we paid 23 $ at a so-called economical rice stall. There was nothing special on our 3 plates.
A single room to rent is at least 800 $, not in the center but in an area such as Bedok. How they want to encourage young couples to marry with current housing prices is a mystery to me.
I feel many businesses have used the opportunity "covid" for cranking up their prices unreasonably.
@@marvint480 Public transit and walkable cities are dull?? Well, so do people who live in car centric places where driving is the only choice to commute.
@@marvint480you think it's dull because you are living in that kind of society since the day you are born, as someone who live in the car-centric nation i beg to differ.
Me as an Asian foreigner working in SG for 10 years+, at first my salary is $2.2k and i spend on room, food, transport still can save 1.5k. 3 years ago before covid, my salary was $3.5k and my room rental increase, transport, food increase and i am still saving $1.5k which is quite low. And I don't spend on luxury things and clothing. I just spend to live only. the salary is not much and the work load is too overwhelming. Like a staff work load in SG equal to 2 or 3 staff work load in other countries. Now I decided to go back to my country after 10 years because over work consume me so much until I feel like living is no better than dying.
sorry to hear that ,i knew this will be coming during covid because our government gave us alot money so after covid is over they will do alot different thing to take back their money
Which industry and what role were you in?
@@penguin0101 Finance
@@lifeentertainment1091what do you mean by a lot of money? Did you receive 1 million from the Govt?
@@miko7183which country are you from? Did you get PR?
Try interviewing the middle aged, especially who has started their own family, if you ask the young they usually share what they think, they hear, and I don't believe they would be the best to give opinions in managing finances
exactly, the lady who said she wanted 20k-30k to live comfortably in Singapore is clearly on a very expensive lifestyle
I think the most accurate was the lady in pink. Which is what the original commenter was talking about. The lady in green who says 20-30k obvs don't speak for the rest of the locals lol
Absolutely agreed. As a Singaporean I feel the responses are skewed, limited and not a holistic depiction of Singapore unfortunately due to the limited demographic of participants (done within orchard road only and mostly focusing on youths who have limited experience in managing finances as what the original commenter said). One of the poorest interviews by Asian boss I have seen.
@@xDCloudStrifexDtypical singaporean woman. If its easy and normal to make 20k then everyone will make 20k and the real income value will drop
@@xDCloudStrifexDIs not an expensive lifestyle, if you are not earning $20-30k how to afford a car in Singapore? How to afford to buy a condominium?
I lived in Singapore for 1 year (2015-2016) I never needed a car. You can take public transport everywhere. Their system is so efficient. I rented a room at an HDB and it was walking distance from the MRT. I only paid around S$850/month. Food is super cheap if you eat at a hawker or maybe cook at home. I earned about S$4k a month. I survived and had extra money to eat out with friends, travel, and fly back home (to another SEA country) a once a year. It really depends on the person's lifestyle and if single/married.
What you r describing is college student life
@@nouramy4038 nope. I was working full time. I was a research assistant at a university. Work was regular 9-5, off on the weekends.
@@Isabelleyri you might be working but youre living a college student life.
@@harukrentz435 what do you mean by college student life? I have a hard time understanding why you guys are saying that. Is it because I was single and didn't have children?
@@Isabelleyri i think what they are trying to say is that you have no liabilities here in sg, no other obligations here. perhaps you might feel the brunt of things if you stayed for maybe say another year or two. you might probably feel the burnout then and question whether you are living or just merely surviving.
*I like what the last guy said about appreciating what I've got, work, staying with my family, and making it here in PH, I'm blessed.*
Quite a bit of misinformation in this video which I would like to correct. By the way, I'm just a local in my mid 30s, with an average salary and I have two kids. So that's my context.
1) You don't need a car to survive in Singapore. Our public transportatiom is so good that cars are just luxury items. Though person with physical disability or families looking after a person with physical disabilities might argue that the expensive cost of a car is affecting them. That's true and government will probably have to look into that. But otherwise, only the rich will own a car. If you do not have a good 10k salary, just don't fall into this trap and you will be fine.
2) Most government houses are not 750k. That's exaggeration. You can get a 3-bto in a non-mature estate for less than 300k. And I live in one. And a family of 3 to 4 max can still fit in there. Youngsters who complain about houses clearly do not know how fortunate they are because they can use their Cpf to slowly pay a house that are appropriate to their income. If you want to show off and get a big house, and face alot stress to afford the loan, then your own stupid problem. Young people have aspiration, but they are clearly over their mind to go for 750k housing if their pockets are not deep enough and still complain. That's poor financial planning.
3) We clearly do not have the rights to complain about the rising food cost if we are willing to pay $8 for a bubble tea when we can in fact bring our water bottle along. People are just having their priorities wrong when they go for expensive cafe hopping. I eat almost 6 days a week at Hawkers and food courts. They are still affordable by all measures. Just don't dine at restaurants and you will be fine.
4) Lastly, the responses are just so skewed towards the interviewer bias.
1. Car is not necessity but is a status in Singapore. 2. Below 300k is very rare don’t bluff. 3. Coffeeshop already selling at $8-$9.
@@Steven-qs7zpbetter a info than the guy saying hdb are literally a million dollar right?
@@watchtherapy1068 Resale HDB is selling more than one million dollars
1)Car I agree you do not need it in SG
2) yes of course you can get a 3 rm BTO flat with 2 bed room. But think about it that is if u marry young and is eligible to buy BTO flat. Does that mean you expect people to fall in love for the aim of buying a flat? Singles or people who don’t plan to Marry early will only have to wait till 35 just to get a BTO 2 room flexi which only have 1 bed room. At this I know many “young couples” are getting BTO just to flip money after MOP I guess u r one of them.
What if they wanna get married after and settle to have kids they already wasted the first BTO chance. All because the govt don’t allow them to get any BTO more than 2 room flexi. Else people will just have to get resale which minimally is high 4 or 500k in a non mature estate.
3) what r u eating at hawker and foodcourt? $8 for a latte is a splurge I understand but doesn’t mean eating at a hawker or food court is cheaper.
Hawker fishball noodle easily $4
Foodcourt $5
3 meals a day everyday eat fishball noodle ALSO $12 to $15 a day. That’s easily 50% more expensive than pre covid.
Coffee kopi o was $1.1 now $1.6 that’s 45% more.
How can you don’t dine at “restaurants” you have no friends to meet up to chill and have fun is it?
4) you are so skewed to your own opinion and your sad friendless life.
@@fancybaby1233 I know you are trying to get your points across but don't do personal attack. That's not cool at all.
1) If I wanna flip money, I would have gone for the bigger bto at mature estate. I will stand a much higher chance of selling at million dollar. Currently, I make a smart and conscious decision to go for a 3-room bto in non-mature area. It wouldn't sell for much in future but I don't really care because I'm not using my bto to flip money after MOP. So you are wrong to say I'm one of them.
And for those who wanna flip after MOP, they aren't wrong to do so. But they should really consider whether they have such a deep pocket to begin with to pay the loan for the next few years. If they are struggling, that means they aren't doing smart financial planning. It's only their fault for spending beyond their means.
As for getting a resale, why can't they go for 3 room instead of 4 or 5 room? 3 room probably resale at 300+K.
The fact remains that our housing aren't that expensive if you plan carefully.
2) I agree restaurants get really expensive. But you don't eat at restaurants daily. You also don't meet your friends daily. Even if you have so many friends, both parties can make a deliberate effort to meet up at cheaper cafe or even consider the coffee shop then go to public space to continue the conversation. It's up to how you plan the outing taking into account everyone's budget and comfort level. Maybe I'm mid 30s already so the people around me really know what matters more- food or the people?
It's really wonderful to come across people who freely share valuable information online. You never know what kind of knowledge you might stumble upon that could have a lasting impact on your life.
Don't procrastinate when it comes to saving and investing. Don't wait for the perfect timing; start now because the current moment is the best time to invest.
What specific type of investment are you referring to? I'm aware that making money through investing is not as straightforward as it may appear.
Cryptocurrency trading appears to be quite lucrative. Despite the constantly changing nature of Bitcoin, it's evident that the cryptocurrency community is here to stay. John Joseph, you're doing an excellent job.
I apologize for interrupting, but I have been searching for assistance with this type of trading as my work consumes most of my time, leaving me with limited opportunities to focus on trading. How can I get to know him?
INSTAGRAM
Why you interviewing people from Orchard road? It's like a big duh...
That's already a skewed survey. Asian Boss, your team needs to try harder.
Unless, you are telling me you are doing a survey called, "Is it expensive to come to Singapore, what do the tourists think?"
Don't say I didn't provide you suggestion - Raffles Place MRT, I suspect you will get very different, and imho, more accurate answers to your question.
Anyway, what kind of question is "Are All Singaporeans Rich?", do you intend it to be a click bait?!
Edit: Think I figured out why Orchard road, interviewer finished job can go straight to shopping with friends, lol...and people in Shenton Way probably way more fierce and tougher to interview...
Nice try SG team, you managed to pull a fast one over your Korean team bosses.
As a Singaporean, I don't think the interviewees went into enough detail about our extensive public transport system (so you really don't need a car), cpf schemes (that help afford public housing/medical bills) and cheaper food alternatives (if you don't want to spend $8 on a latte). Not saying their responses aren't an accurate reflection of the situation, just felt they left a lot unsaid.
Trains 🚂 is Sin are greeat
I agree. The so-called rankings are very generic, assuming most families own cars, singles rent or buy houses etc. I felt the locations of the interviews can be more varied. Go to the heartlands, business districts, parks etc.
SG as the most expensive city is based on expatriate lifestyle.
How expensive SG is depends on individual choices. Some can survive on $1.5K. For some $10K may not be even enough.
I totally agree.
Probably due to the questions asked.
We all struggle these days as the quality of life keeps decreasing worldwide but the struggle means something different for each of us. For people in poorest countries it is difficult to afford food to feed their families, for upper developing or developed countries like UK people struggle to pay their heating bills and for the richest countries like Singapore the issue may be not buying a car or not being able to afford holidays.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom.
*STEPHANIE KOPP MEEKS* , That's whom i work with.
You can glance her name up on the internet and verify her yourself. she has years of financial market experience!
Heard many good recommendations about Stephanie Kopp Meeks by some YT channe|s, Seminars and other platforms.
I used to live in Tokyo , once the most expensive city in the world years back. I visited Singapore once this year and I could say considering the inflation, SG is quite high
I went Tokyo last month, I realised that cost of living in Singapore is higher than in Japan. Most of the things in Singapore are getting more expensive.
Tokyo's way seems way cheaper than Singapore tbh. Food in particular is much cheaper, both the groceries and eating out. Many employers also provide like an unlimited ride ticket for a portion of the route of the train/subway/bus to and from work, as well as other benefits that are normally out of pocket for Singaporeans.
Then again, the average salary of a Tokyoite is probably lower than a Singaporean's.
If you have a willing to give urine / pangsay water to anyone's food, thats mean Allah wants your destiny to be Satan slave be prepared to become smelly, dirty, ugly, poor, and disgusting,buy anything Verry expensive ,buy food expensive but not delicious.(Ghoib debt)
@@hengjessica5930 salaries in tokyo also much lower and taxes much higher la
Actually mrt and buses in sg are really not that bad as compared to transport in other countries. I used to study in Australia and you really need a car there. Bus timings are often unreliable (sometimes they just don't show up), long waiting times (if you miss one, you may have to wait 30 mins, the travelling time is much longer than cars and some places are inaccessible via public transport. I used to complain about my long travelling time in sg but recently I took a grab share and it took like the same amount of time as the mrt. The cost is 14 times higher though. So I got to say mrt and buses are really not that bad. Especially when you consider that in sg, cars are more of luxuries than necessities and cars are less environmentally friendly.
1 hour plus to take public transport to go orchard road
I like that, it can even be free and funded by COE. How about taxing a toyota prius 20million for 10 years usage...? Surely that can fund the public transport
@@juniorjr5328the masterplan is 45 mins, give LTA some time.
@@juniorjr5328 That seems to be the worst case scenario. Most people do not need 1 hour+ to get to Orchard Rd
@@fcfhkmelb lol. Worse case… u don’t live here don’t comment
As a non-Singaporean, this is very interesting sharing.
Would love to see Asian Boss team to come to Malaysia and interview us.
Msians will say they are better than Sg in everything. 😂😂😂.
@@sart3735 yes...when
U reach 60 u will be saying the same.
@@fadzanuar4962 lol. Ask 20 something msians who have to come to Sg to work. Starting pay for msian graduate lower than admin job in Sg.
@@sart3735 no need age go upwards...everyone will have a taste of it. Dont worry it will come.
@@fadzanuar4962 lol u talk as if all Sg are going to be poor. I know there are many poor old folks in msia, it’s just that they are poor all their life so they dun even know they are poor.
Great content! Keep it up!
the last guy quite nicely and poignantly concluded the interview. thumbs up.
He's a foreigner lol
I did a thorough detailed income and expenses calculation and research for moving to other countries as I was at one point seriously consider moving overseas. The outcome of that is like what he said, the grass isn't always greener on the other side.
Moving overseas doesn't make all the problems disappear 😅
@@iamjaydennn his point may be right but it's coming from a foreigner lol. If local say this while interviewed then it makes it more acceptable.
Somehow like a lot of foreigners or maybe just got citizenship.
@awkwardsmile well he has actually experienced moving countries versus many Singaporeans that haven't sooooo
Glad to know we New Yorkers aren't the only ones experiencing a cost of living crisis and financial struggle lol.
Who isn't man?
It isnt just New York my friend, we are all experiencing the insane cost of living bs increases in the US, it isnt just New York San Francisco and LA; everyone.
@@gangstagummybear3432 The whole world even. I'm in SG and the cost of living has hit hard here, and the whole region. Probably only the Arctic and Antartica aren't affected.
@@gangstagummybear3432There are other places outside the usa
@@silverchairsgin KSA, there's no fee for rent because the accommodation is free including electricity and water for expats.
Hoping Asian Boss will pump up more top-notch content.
thanks for sharing. interesting as always.
I work with SG company, but I live in KL. I did some of their payroll, and I can see the average people in my company earns more than sgd5k (they all experienced not fresh grads) the highest one being sgd30k per month.
I went to SG few times and felt the expensiveness due to currency rate. It also make me more grateful that where I live, I got to own a car, live in 1000sqft apartment comfortably, with no financial issues.
I think cannot compare receiving SGD salary and buy house and car in SG neighbouring country. With salary in SGD of 5k probably can buy 3 Banglos in Philippines.
Quantitative speaking, based the relative cost of living against salary, it is lower in Singapore compared to KL, said so by this Malaysian.
Except for transitory runaway rent, the rest are still relevant.
th-cam.com/video/uY-cbVMbNAI/w-d-xo.html
Can I know what industry that is?
You are forced to own a car in KL because the public transport over there is bad. Why would you want to drive a car when public transport can take you almost everywhere efficiently?
@@fcfhkmelb No, public transport in KL ain't that bad. Despite, Malaysian public transportation across the nation overall still ranked top 30. In Malaysia, people have choice neither to use car or public transport. Since using bus take your time up to 30 minutes (too many stops and routes), car only take you 5 minutes for the same destination.
*All* Singaporeans are rich, relative to the people of many other countries. You could be homeless in Singapore, and you’d still have access to free sanitation, clean water, free food, and government assistance. A poor, homeless person in Cameroon would KILL to be a homeless person in Singapore.
While people in other countries are fighting for survival, Singaporeans are complaining about the cost of cars.
Yes, Singapore has a high cost of living, but it also has a high quality of life. Singaporeans really need to take a step back, look around the world, and be grateful for what they have instead of always looking for something to complain about.
Amen to that bruv
no matter where you live, people will always be fighting for more. i dont think that is a bad thing.
That's right. I've even saw some videos on YT on how there's an organization or something like that helps or persuade homeless ppl off the streets and offering them homes and such.
@@ravenous9577 when you are already comfortable living in a prosperous country and still wanting more...I get it if someone comes from a developing country and wanting more
yalo... I listening to them complaining about bubble tea costing S$8, your neighboring country here earn about the same or less than sgporeans if you don't convert, and our bubble tea costs what, 14? Mixed rice at 8-10 minimum unless you're vegetarian. Only difference is property here cheaper. But we take 6 months to save for luxury goods, sgporeans 2 months enough le...
I’m so glad this channel is finally doing videos in Asian countries other than Japan!
Great video... I live in the USA and its always good to see points of view from over seas. People say the same thing about living in bigger cities here in the US. Same Struggles Different contries! Thanks for sharing
Singapores leader made decisions decades ago that has brought singapore to where it is today.
Their control of social apartments (what we in denmark call socialt boligbyggeri) i am kinda amazed how well they do...
But i must say the collective transport from changi to downtown is kinda slow...
With that said not every citizen of singapore is rich but they are not bad of either.
BTOs are like 3xx and up and typically couples go for them so that's split between 2, so it depends. It can be expensive, it can be cheap, it can be managebly affordable.
But as much as people complain here I still know many Singaporeans travelling so often and I think if one's struggling they should cut travel out
Do you know we still get sgd 3.5 dollar chicken rice in outskirt town area?
Do you know there still 2bedroom hdb flat at 350k?
So with 3k a month is it enough? What do you think?
Maybe someone that have good financial knowledge will know how to manage better?
Do you know coffeeshop is selling at $8-$9, do you know the so called “Singapore government subsidized flat HDB “ is selling at 1.4million , 3k minus CPF is $2.4k, you think is enough?
@@Steven-qs7zp if you take the maximum of everything then yes it's never enough
@@AaronLin88588488 not true, coffeeshop $8-$9 is still low budget, HDB is still cheaper than private condo and landed, $3k for first world country is low pay. All you mentioned is not maximum of everything.
I am a Singaporean and have studied and lived overseas for the past 8 years. Comparing the quality of life I have abroad as a family of 3 in the city of Hamburg in Germany, it costs us less than 3000€ a month to rent a 90sqm apartment in the heart of the city, full organic groceries, full time childcare, and owning a car (which we don’t need).
Education (up to PhD) and childcare is free, delivering a baby is free and all the other unpredictable high costs that comes because life happens are usually already tabulated into the taxes we pay. Yes taxes are high, almost 50% but what we take home is what we can save and I find there is barely a need to save for rainy days.
I would love to move back to Singapore to be with my family but cannot imagine how I can - it is impossible to afford to rent a place for my family and maintain our quality of life! HDB is out of the question because having worked overseas, we have no CPF contribution and our gross family income probably exceeds the HDB eligibility ceiling.
I think many Singaporeans want to come back and contribute but it is simply financially not feasible and there is sadly no route back.
If your gross family income exceeds the HDB eligibility ceiling, why show off? HDB BTO is public housing for the young and less well-off. I am sure your singaporean parents benefited enough to give you a good education to fend for yourself.
@@scbchong6964Don’t BS, Singapore government subsidized flat is skyrocketing, BTO already 700k+.
@@Steven-qs7zp Hey stupid, grumbling citizen, after all the generous subsidies and grants, not $700k lah. But anyway, that is prime location unit. And there is also Means Testing so that high-income citizens not allowed to grab from the "poor", hor. btw why you demand your pay increase high high but only want to pay cheap cheap and buy poor quality stuff?
Hi Shin, for resale HDB in Sg there’s no income bracket and you can definitely still live within your means. ☺️
Rich is relative.
Everybody and their mama is going to have a different perception of what it means to be rich, wealthy, have a lot of money, etc.
When the interview is conducted along Orchard Road, I suppose all the interviewees are within a specific demographics. Locals of lower income bracket will never get interviewed because they are much less likely to be walking along Orchard road.
The questions are also very biased and subjective. Whats the point of focusing on Car prices just because it is expensive? Cars are non-essential in Singapore, you can easily travel on public transport and reach your destination within 1 hour.
Housing rental is also more for foreigners, most locals does not rent. Either living with parents or buy their own apartment (which is comparably cheaper than most other major cities).
For other essentials, such as food, it is also a very subjective matter.
It is reasonably easy to get a decent meal within 5 USD in Singapore. This would be near impossible with any comparable City in developed country (such as New York, Tokyo, Hong Kong, London).
Similarly, public transport is also within reasonably cost again, in comparison to other major cities.
Outside of houses, transportation and food, one other major factor to consider is taxes. Which was never brought up.
All those rankings in the reports are specifically for Expats, this was also not brought up.
I like this channel, but the journalist really need to do better homework.
I cannot travel anywhere easily within one hour… Which planet u from? U live in prime central area isit? I go anywhere from the west to orchard also over 1 hour
Half of them don't even sound local!
@@juniorjr5328 you can travel to most places in sg within an hour or max average is 1.5hours. For example, woodlands to tampines is about 45mins only... Tampines to bishan is also around like 40mins. The strange thing about SG transport system is that you can travel to many far places within an hour but for some reason you will take almost the same amount of time to travel to a place like half the distance (like woodlands to pasir ris is quite far but it takes like 1h but pasir ris to bishan which is abt half the distance is also about 40mins). Ofc excluding like all the ulu places ah or places got no highway connect or cross country distances
Can you name me which country is selling more expensive than Singapore government subsidized flat HDB which costs more than one million dollars?
@@zabeh._8936my family of four live in a less than 300k 3 room bto in non-mature estate. Houses aren't that expensive. It depends on whether you stay grounded or you decided to live beyond your means and end up feeling so stressful having to repay the loan till you are 55.
Singaporean here. I wouldn’t say I am rich but I am comfortable enough that I can go to the supermarket and shop without looking at the price tag. Even when I eat out, I don’t really look at the prices.
But I wouldn’t buy luxury items as they are not something I need (and for these items, I would look at the price tags).
Please share how much you earn to be this comfortable enough to not look at the price tag??
@@peirongchan7565 lol, dont see price tag , rich dude
It's the same experience for me. I'm no HNW individual, but I don't penny pinch either. If I like something, I buy it and that's the end of it.
I think you are rich. XD
Maybe can try do interview at hougang or Yishun. It will be quite interesting.
Being a Singaporean in late 30s, working for many years, I find some (repeat some) residents in Singapore are getting really pampered. If you want this and that, and everything else, of course money and time is never enough. It is all about planning and priorities. If you want a comfortable job with minimum OT, live in a condo, own a car, hold a instag worthy wedding, Europe honeymoon, buy LV, have two kids in top notch childcare and branded tuition, regular weekends cafe hopping, and then yearly family holidays flying by SIA... 😑 Then money (and time too) is never enough. Unless you are born as 2nd generation of rich family, every average people has to work hard to live the lifestyle they want, and also sacrifice on certain things in life too in exchange for that. Don't always just see things on surface, instead plan and get your own priorities right. Most average people do not have the best of everything in this world. It is all about sacrifices and taking priorities. Be practical. We are talking about living, not splurging.
Hear, hear.
Well said 👍👍👍
But you do it for your politicians? The Singaporean taxpayers pay their politicians the highest political salaries in this world. That`s a fact.
So, how much do you need to afford that kind of lifestyle in Singapore?
Thank you for what you are doing for Pastor Lee and his church. Thank you.
Love your content keep it up
The interview was conducted in a way that the questions were asked and the respondents had to answer almost immediately hence there was little time to think. There were also a number of questions asked where they edited different snippets afterwards.
I feel that for SG people can choose different tiers of living, eg property (Subsidised government housing or resale, condo, landed at city fringe or city centre?) and food (restaurants, coffeeshop, hawker centres). Some respondents talk about prices that are in the higher end. However as a local who tries to opt for the economical options, I find that even hawker food prices have risen a lot post-pandemic. For those who mention people could choose cheaper housing in the areas further away from the city, some also rather opt for convenience to be near their work place so they can do overtime 😅. Personal experience that it's really not fun to change 2 trains and 2 buses just to get to work daily cos of where I stayed.
Cars SHOULD BE back-breakingly expensive to purchase in Singapore. The city at its current area and population simply would not function if privately owned cars were more accessible. Good on the Singapore government, now as for the rest...
Cars are just for rich-flaunting and impressing girls in Singapore. You dont actually need a car at all in Singapore. The public transport is too well connected
Yeah and it has outstanding and accessible public transit.
Other cities in the world seem to be able to operate fine without restrictions on car ownership. Is Singapore so badly managed that they would be unable to cope with reasonable car ownership policies?
@@HyperspaceHoliday Singapore is a tiny island nation that is about 30 miles across at its widest. If everyone had their own car, Singapore would just be one big parking lot.
@@hejiranyc yes , most people forgot singapore size
I appreciate what the last guy said. 👏
Singapore is a VERY impressive city to visit, nothing like any place I have ever been before. And people are very kind.
Sadly I didn't manage to make any street interviews there, but I made some in Brazil, Argentina, Denmark and Colombia so far:)
Singapore stands as a modern marvel, balancing cutting-edge development with affordability for its citizens. From subsidized housing and healthcare to efficient public transport, the city-state offers a high standard of living without breaking the bank for its residents.
As a Filipino, sometimes I get envious of other Asian countries' MRT/MTR systems but then again, PH is an archipelago and much harder to make such system. But I hope in the future, it will be cheaper and much faster to travel around like SG
I think you guys need more engineers to solve transportation problems since your country is mostly a collection of small islands clustered together
@@esrever777we do have many engineer the problem is they go abroad for much higher income like the nursing..
Just build a metro in manila is good enough, you dunt need mrt in the villages lol
@@winwinwin282828eah, but also in provinces but I still hope they will put MRT or LRT in provinces here in the Philippines hehe
@@bellaclover1933 thats unfortunate but very understandable
One quick question, if you can choose :
1. Is it better to work and stay in Singapore, then travellng to less developed country such as Indonesia?
Or
2. Is it better to work and stay in Indonesia, then just for travelling once a year going to Singapore?
I earn about $5k and I save about half my salary, I don't drink much alcohol, don't plan to own cars, don't plan to have children, don't plan to have a wedding, eat out at restaurants only a few times a week, only buy second hand clothes and never buy branded clothes and bags. I drink $8 lattes once in a while and splurge on holidays, and my hobbies are guitar and running.
I'd say Singaporean life is cheap if you don't live to show off on social media or compare with your friends and family members.
Me too.. my net pay is around $4500/month working as an nursing assistant. I live with my parents and do not pay any rent, bills etc except for my car. I don’t splurged on anything. I bring my own food to work. But still, $4500 is still pretty low living in Vegas as the inflation here is pretty high
It’s always a balance of costs versus jobs. As long as there are jobs, costs are payable. So its not completely impossible. Costs are dependent on where you spend your money
When I watch this video, this is what different societies in different countries show about inflation. This video didn't close down how much taxes people actually pay. Still, in general, we all know living is expensive anywhere we go, specifically if really populated living area or city.
The last guy simply "nailed it"...
Thank you for your videos.
My cab has never gone above S$60, ever. So idk what that guy is talking about. If it does happen, it’s not frequent at all.
I should add that my cab will usually be around the $25 to $40 range
That guy is on crack. 4:55
Obviously surge pricing on Grab from some very popular night spot on special occasions, as he mentioned after drinking until 3am. That is hardly representative even at 3am. 🤣
Maybe just that one time during NYE countdown, yup, I have experienced $150 grab. But that’s rare..
@@Toffeeukeeeeee exactly. Major event + post-midnight + rain + going from downtown to home will likely see that amount. But that requires a combination of all those factors first, and is hardly common.
I've been hearing too many people complaining SG is very expensive to live in. But hey, it definitely depends on a person's lifestyle and income level. If the income is below S$1500 for a single person but needs to rent a place to stay and eat out 3 meals a day, then yes, this is definitely not enough in SG. High-income earner who takes home S$20k per month with single source of income, living in private housing (be it condo or landed), driving a luxury car with kids studying in private school, frequent "atas" restaurant and high-end shopping habit, $20k seems too little to go by as well...
Ya we have two years military mandatory. While work force we are the minority
A truly successful country is such when even the poorest of its people can enjoy the country's luxuries
Are you sure $20k, can buy $10 million landed houses and $500k luxury car, children studying in international school which is $30k per annual?
Someone taking home only $20K per month is not going to have a luxury car AND a private house AND kids in private school AND a high-end shopping habit. Maybe one of those things, but not all of them. I have to say... as an American, I had assumed Singaporeans were wealthy, but all of the people featured in this video would be considered lower middle class in the US.
@@Johnne009
Rip-offs are not luxuries.
Somehow, Singaporeans absolutely love KSL City Mall and Mid Valley Mall in Johor Bahru. These places are like magnets for them when it comes to shopping even on weekdays.
doesn't matter how much your salary , most important is how much you can save. And there are lots of factors that affect it.
the malay lady 'with cat spectacles and red neck scarf' is being truthful to speak, admire her honesty, down to earth...
Yes. I love her comments too.
The heartfelt stories shared by young Singaporeans shed light on the harsh reality of soaring prices and the struggle to make ends meet despite working tirelessly. It's disheartening to hear that home ownership, a once-aspired dream, feels out of reach for many. The weight of financial pressure and the diminishing hope of building wealth can take a toll on one's spirit. These stories urge us to reflect on the larger societal issues at play and contemplate the steps we can take to address them.
To the young Singaporeans who bravely shared their experiences, you are not alone. How can we bridge the gap between wages and the cost of living? What initiatives or policies can empower individuals to pursue financial stability and achieve their dreams?
Thank you Asian Boss for amplifying these voices and raising awareness about the realities faced by Singaporeans.
Will be nice to do this interview in the heartlands
While in KL we have housing oversupply... so many high end condos build around city and landed housing/new township between 40-50km from KL.
I do feel sorry for today's young generation. In my time 40 years ago, l live happily with $600 a month. When I got married when I was 30, I bought a 5 room Model A flat for $99, 900. It was big too at 120 sm. A 2nd hand car costs less than 10K and a new one is above 20K.
Thanks for the mistakes that people made every 4 years since 1965.
There is no need to buy a car in sg, public transportation is superior.
These ppl seems really educated
impressed by how they manage the interview
0:38: 💰 Singapore is one of the world's most expensive cities with high living costs and salaries ranging from 2.8K to 6K SGD per month.
6:45: 💰 Renting and buying houses in Singapore are expensive, and buying a car is also costly.
12:49: 💰 The cost of living in Singapore is high, with expenses varying depending on individual circumstances and family size.
Recap by Tammy AI
Taxis may be $40 in the middle of the night but definitely not $100. And he should try taking cabs in Japan and Europe. It's a $100 on average, in the day
Your team should try to interview those in the low income group and those in the middle age group. You might hear a different story.
We cannot compare the price of our HDB to other countries for one simple reason. Our is public housing while houses in other developed countries (which we should be comparing to) are private ownership. That is something even our government will not mention when they compare the prices of our HDB apartment (both directly from HDB or in the open market) to the prices of houses in other development countries. Likewise, the value of our cars are also inflated because of the COE.
Is majority of the population having an average income of S$5k? Maybe if you consider a household with both husband and wife working. Single income earners? Depends on how long they have been working and in what kind of industries.
tbh those they interviewed sort of considered in the lower income group already no meh
When worldwide debt collapse Sg housing bubble will burst. Massive unemployment. Blood on the street. It's coming
@@nil-xp8gtno...
@@nil-xp8gt if you think the interviewees salary are considered low income then i dont know what else to tell you.. low income groups can barely make up to 3k a month, sometimes even less than 1k
Apart from the HR lady with the astonishing salary, most are very accurate. The average is $3k-$4k for non freshmen. Yes there are low income individuals that make around $1.5k (mostly F&B, waiters, odd-job workers, domestic helpers) but I don't think these are majority of singaporeans? The group I mentioned are mostly foreigners.
Also note that the interview was conducted at Orchard/Somerset, where you can only find $8 lattes lol
The feeder bus which I normally take to and fro from the interchange to my parents' place (which is only about 3 bus stops) costs almost 1SGD per trip which I didn't really take much notice until I downloaded the app to trace my transport cost. I was shocked and I started to walk to and fro instead, treating it as my exercise, unless I am really really exhausted to walk after work. Even buying MacD I will think twice.
That is the correct way.
i went to singapore last year
and really love with the city and their public transport. as a regular commuter by using public transport in KL,what I can say,Singapore is a good country but yeah living cost is increase everywhere even in KL
I'm from Singapore! Answer is definitely "No".
I think when Singaporeans "complains" about Singapore being expensive, i don't they think their main concern in about cars and food.
Most of us don't own a car cuz public transport is effective. Food at the hawker, despite the increase in price is still relatively cheap.
Most Singaporeans, share the same sentiments with the regards to increasing property price.
I think most us worry that they can't retire. Sure CPF helps, then you'd use up most of ur CPF money for housing, can't hit BRS-what would you be getting per month in u'r retired years then? Its work until you die.
Singaporean here. Having been unemployed for almost 3 years and experimenting with various budgets. My personal view regarding individual finance is:
1) As of 2022, I need around $2500 to be on the margin. This means no insurance payments, no vacation, very little outside meals,limited entertainment. And God forbid, don’t ever fall sick.
2) To be able to invest, maintain insurance and have a bit of emergency funds. I require $3200
3) To unlock "Add-ons" like annual vacation (in SE Asia region), eating out more frequently, shop in the heartlands (not Orchard Road), I will require $3700.
4) To be truly comfortable and secure, my rule of the thumb is add another 1K for a final amount of $4700.
With inflation, $4700 will become even higher. Now, which average job in the world can catch up with that? Mind you, I have around 20 years experience as a technician in the oil/gas/utilities sector. I’m 45 years old and my last drawn pay was slight less than $3000. I can earn $4700 but only with massive overtime. Not physically feasible over the long term. When people talk about “high paying jobs”, all I keep hearing is the tech industry. But reality is, many other “decent” and “essential” jobs don’t pay that much.
In my unemployment phase, I have gone as low as $2200. But it means deprivation of many aspects of life. I don't go out. I keep much of my lights off, no air con, smaller meal portions, etc. All income thresholds as described above is individual with no dependents.
Stay strong my friend. Maybe you can look for jobs in another asean country.
You can get a decent meal for $3-4 in Singapore. It's at least $15 here in Sydney.
Living luxuriously in Singapore can be quite costly, and it often leads to a constant struggle between our needs and wants. However, it's essential to acknowledge that living contently is within reach if we choose to embrace it. Nonetheless, it is disheartening to witness the growing economic disparity in our society. Although there are opportunities available to bridge this gap, many individuals unfortunately find themselves enticed by "get rich quick" schemes, which ultimately result in disappointment and failure.
To improve financial prospects, quit doom scrolling, invest in self, cultivate good karma and prioritize adequate sleep.
These practices can lead to personal and financial growth, fostering a balanced and fulfilling life.
Also don't forget to hydrate!
They are missing out on an important key factor about COE, even if you dont buy cars you are still "paying" for it, because business owners still need vehicles for logistics, and when logistic cost rises, the cost is incurred onto consumers back to us. That is also partly why everything around us is increasing in prices.
Thanks for this video. My Singaporean friends living in Singapore give off an impression on social media that they have a dual combined income of SGD$20K to 30K a month - cars they own are either an Audi, BMW or Lexus, living in condominiums with kids, dining at fancy restaurants all the time, and traveling a few times a year bringing their helper with them. And I wondered if everyone with a corporate job in Singapore easily makes SGD$10K a month. This video is eye opening.
30k doesn't look enough for such lifestyle
It is actually not exaggerated, especially among educated Singaporeans in their 40s. A married couple with both having good university degrees can typically earn that amount if they are holding key positions, even in the civil service. Many of them actually do exactly as you described, although eating at "fancy restaurants" all the time may not always be practical. Not because they cannot afford it, but because it is just too much of a hassle. They will rather get domestic helpers to prepare good meals for themselves in the comfort of home.
That young lady working as a Biz exec earning 5 to 6k a month is a typical example of someone going into that kind of lifestyle in a decade, if she marries someone at the same SES level.
Hitting 20k or even 30k combined monthly is not that difficult here for grads from the main universities here. My brother is 30 this year and has hit 7k a month excluding bonuses.
Most Singaporeans from this highly educated group usually hit 10k by the time they reach 35, and 20k by the time they reach 45 or 50. Then it peaks around that point.
@@UltraVioletMilk yes, as long as they are in the right industry, and had opportunities with good work performances. It is not as rare as what people think.
I personally know two from my age group (early 40s) who already live in landed property. Both literally went from "rags to riches", coming from their parent's small HDB homes to landed property in two decades.
And many more of my friends actually can afford to buy landed, but choose not to. Most prefer to live in cheaper homes, but spend more in other areas.
All of us are local U graduates. And we don't even need to do very well in school to be this "successful".
@@UltraVioletMilk how many percent of true singaporeans graduated from local universities? if its 30% then the number dont look too high.
A few points:
1. Housing is crazy expensive, but comparable to cities in advanced economies such as New York, Tokyo, and Hong Kong.
2. There are better ways to limit and allocate cars than auctioning for COE. The current system favours the rich, and many rich people own multiple cars. It would be more fair using a BTO-style balloting system or determined by a case-to-case basis which would allow for people who most need a car to have one. Auctioning the rights to own a vehicle is just the worst way to do things (best way in terms of government revenue though).
3. Our food is still cheaper than the countries of Canada, Australia and New Zealand that were mentioned in the video.
4. Having a strong currency should actually make things cheaper, contrary to what one of the interviewees said, as we are a net importer. The real main reason for inflation is increased printing of money and low interest rates in recent years, especially during COVID where many governments including Singapore's handed out stimulus cheques.
5. We do have lower pay than similar cities of advanced economies (due to various factors, from market forces such as high rent eating up a large chunk of business revenue, to foreigners competing on and suppressing wages, as well as the absence of minimum wage laws), but we also have lower taxes. The main complaint I would have is actually the workload and long hours. I personally work from 8am to 6pm, six days a week. There is no work-life balance.
Hey, I am curious about singapore health care, let say low income people got very sick, can they get free or affordable medical?
They are all very articulate and use high level language. Impressive
Based on this video title “ARE ALL SINGAPOREANS RICH?”, answer is NO. Not ALL Singaporeans are rich 🤑 But there are many well-to-do Singaporeans.
This interview group segment is so wrong. Wrong demographics.
80% lives in HDB , eats in hawker centers
@@stevenlim9640
Correct. 1 interviewee said HDB 2-room purchase is about $1,000,000,00, he thinks 🤦🏻♂️
@@christopherlaw9184 😂
Sure or not? More than 80% is living in government subsidized flat HDB?
@@Steven-qs7zp according to statistics, yes. assets.hdb.gov.sg/about-us/news-and-publications/annual-report/2022/ebooks/Key%20Statistics%20FY21.pdf
But of course you do not believe in anything official.
appreciate the quick USD conversion
I visited as a tourist with my family just few months ago. Restaurants are super expensive in general. But I know locals find better value restaurants and live in an area where prices may be more reasonable. If we only look at prices of things on Orchard Road or around the Marina Bay zone, of course prices will be over the roof.
as a Jakartan, if i could choose i prefer to live in Singapore, my sister is a pr in Singapore. In Jakarta, the public transports are so bad, worst traffic most of the time. It is true that houses and apartments here are cheaper than Singapore , but mostly no supermarkets and food courts nearby, pedestrian walks are also not friendly and not safe, especially at night. So to go out you still need a car or motorcycle while in Singapore the mrt and busses are interconnected.
If you have a willing to give urine / pangsay water to anyone's food, thats mean Allah wants your destiny to be Satan slave be prepared to become smelly, dirty, ugly, poor, and disgusting,buy anything Verry expensive ,buy food expensive but not delicious.Lets clean our toilet and neighbors hood be more clean from now on so money will come easyli.
I mean most Indonesians would want to live in Singapore if they could
For some Jakarta people they think live in Singapore is a heaven but in reality they are not, for vacation ITS okey but for live i think no.
Having lived in SG and going in and out a lot recently, it’s not as bad as it seems. I think it’s more expensive to live in Sydney than it is in SG.
I know Americans who complain about SG being expensive, yet they live in an expat bubble. Give up the condo (they admit they hardly ever swim in the pool), explore hawkers, don’t always shop at FairPrice Finest or Cold Storage, you can make choices to save money and still enjoy life in SG. I remind people that they don’t even need a car - when I was back in Aus recently having to drive was damn expensive… so imagine the savings straight off the bat from no annual insurance, registration, petrol etc etc.
SG affords you choices, which is certainly more than places like Sydney can offer.
Amen to that Bruv - it's all relative....
Excuse me sir, I am from India and my sister will be moving to Singapore. You might know that we are not that economically blessed like America. I am worried about the cost of living there. If my sister is earning around 3k Singapore dollars a month. Is it enough to get by?
Ya come here to retire instead of Brisbane or melbourne.. see how much it cost you
@@juniorjr5328Singaporeans retire in Australia is the same as Australians retire in Singapore - lan pa pa lan
@@juniorjr5328stupiak la u.. if really so exp.. the foreign workers in retail and construction would have not come here.
The student was bang on. It’s like that in all cities. Either you have a high paycheck and don’t really get affected, or you don’t and you get affected by the inflation.
Most local born Singaporeans are middle-income to upper middle-income earners. Most of the rich people are either foreign-born Singaporeans, Permanent Residents or foreigners which is due to low taxes, ease of doing business and high personal safety.
That said, if you live like a local (applies to most places not just Singapore), things are way cheaper than living like a local in New York or London. Just like how Urban Hawker in New York or Old Chang Kee in London are way more expensive than in Singapore because those are foreign and imported concepts.
I first moved to SG in 2016 after my graduation in Malaysia. My starting salary was $2200 in Orchard Road as a bartender. The most monthly contribution is my rent which is $450 (a small HDB room in Henderson Crescent) As time goes by as my salary was increased, my fiance and I rented a common room in Havelock Road for $1200.
Transport is $50 (busses) phone bills ($20 Singtel). $200 for entertainment then another $200 monthly breakfast and lunch/supper. Regardless how much I spent, I always aim to save $1200 monthly for investment back in Malaysia.
I love SG because, almost
every HDB below has a small wet market/Fair Price and hawker center which really saves time and money on food. The other part would be transportation. Cheap, clean and accessible.
I guess the expensive part of living in SG is spending on alcohol, cigarettes and eating out in restaurants.
At the end of the day, it's not how much you able to earn, it's how much you're able to save. Look for the biggest spending habit and work your way to reduce those spendings.
This is the problem with you and the indonesians they can always go back to their country with enough saving, meanwhile where will the singaporeans go? They stuck in the country.
$200 for a month worth of food, which is roughly $6.67 each day for 2-3 meals.
$50 for transport, assuming 20 days of work would be $2.5 a day for transport.
not saying i dont believe you, but i really dont believe these amounts lol.
transport itself is easily $100-200 a month
food wise, even more so.
You have to make comparisons between the 'essential' stuff, e.g. public housing/ transport, food and daily necessities vs the 'non-essential' stuff like cars and luxury items. In NY how much is a plate of pasta? Here, in Sg, how much is it?
In New York minimum wage is USD20 per hour, Singapore is $6-$7 per hour.
@@Steven-qs7zp Yes. Wages in the US (and esp NYC) are so much higher. How to compare?
@@Steven-qs7zp Quit lying. NYC minimum wage is $15/hour.
@@XZ_B94 USA is first world country and Singapore is a first world country, USA GDP per capital is US$70,248 and Singapore is US$72,794.
@@Steven-qs7zp firstly, Singapore does not even have minimum income, so your "$6-$7 per hour" claim is fake too.
Secondly, have you tried comparing tax rates in the US and Singapore? Of course not, because the disparity is shocking if you ever try. lol
I travelled ro Sg last summer and the food in supermarkets is quite cheap, ofc if you only eat out it is way more expensive. Because I come from Czech republic I am used to cook every meal by myself like my mother did and taught me and I can safe money pretty well. Everything depends on one's lifestyle so I believe that S2,5k would be enough, depending on what part of Sg you'd live in (considering not really the centre, but also not the furthest corner of the city)
"The grass is not necessary greener on the other side", well said.
The conclusion is no matter how much money you make, it also depends on your lifestyles.
@@heidi-hu1tvhe 61.24 voted for this pappy ministers. These bastards give them the mandate to do it
I'm gonna be honest here, in Maslow's hierarchy of needs, the most basic need that a human requires includes shelter; which is housing, and if housing is extremely expensive, there's no need to talk about anything else. Even if transport, food, .etc is cheap, if you're struggling to pay for shelter, it still means that it's expensive to live in SG.
We have BTOs that costs 300-450k for a 3-4bedder, housing subsidies and CPFs to help pay for down payment. A couple with combined income of 5k can own a house here, no one is truly struggling though people out there keep complaining. Yes, can be a stretch, but spend within one’s means will do.
How is housing even expensive?! 😂 98% owns a house here bruh. If you’re the 2%, you only gotta ask yourself why’re you in that situation lol
@@Timholle I bet that 98% (which it isn't) includes people who live with their parents because they can't afford to move out lol
@@birbshid gotta ask themselves why they can’t afford a house when many can
The last line about grass was good
Just curious: why are there so many expensive condo flats in Singapore when the average salary of the people is around SGD5k-SGD7k per month? Plus a car.
Is it better to be on a Singaporean salary in Singapore versus Malaysian salary in Malaysia versus Taiwanese salary in Taiwan, etc? Whatever one may think, the Singaporean person can go on holiday to the other mentioned countries with less financial impact compared to the other way round.
Why not compared with all Asean country?
I thought australia was expensive but this was interesting thankyou
Great video
Is this salary before or after tax? That makes a huge difference in take home pay depending on how much tax is paid.
Just to add for non-Singaporean viewers, this statistic is just what people feel, not the actual numbers. Really depends on your circle and lifestyle. Some throw bombastic numbers, but I don't think they are well-informed about the real numbers.
As someone that has lived in multiple countries (including Singapore), I can safely say that Singapore is comparatively a very easy country to live in. You can live very cheaply and the tax is incredibly low.
If you dive into the stats, Singapore is only tied with New York if you are an expat, buying a property (with the foreigner tax), and car, and sending your kids to an international school.
In most countries, you can't buy a $4 meal, while on a 4-5K salary, with virtually no tax (let alone all the tax deductions). Most countries don't have BTO options for first homes, or CPF where the employers also contribute an additional 17%.
My yearly tax bill in SG was less than my monthly tax bill in my home country.
Exactly, when it comes to (income) tax, SG is haven.
You forgot that you are paid in expat price with priviledge, most singaporeans find it hard to live by with 3k or even less salary usually.
Plse take Sg citizenship. Put your money where your mouth is.
@@mosthated2293 the average salary where I'm from is the same as Singapores, but tax is far higher than Singapores (about 40-50 percent taking into account all taxes), and the cost of living is far higher too. For example, you can't get a meal for less than the equivalent of 15 SGD. At least Singapore does have those cheap options available.
Every country has their people that struggle (unfortunately). I'm not denying that some things in SG are expensive, but it's definitely not as expensive as some like to say it is - those that do have clearly never lived outside of Singapore.
When people quote that's it's as expensive as New York, that is not the case. The stats do show that it's only close to being the most expensive when you're an expat and sending your kids to international schools - that is not reflective of how most the population live. I can safely say that in my home country things are far worse off (unfortunately).
@camplord3509 may I know what country are you from if you are comfortable with sharing?
those figures are pre-tax or after-tax?
Is salary pretax or after and what is average tax rate?