Do you think your life will be good if you have a salary of S$5000 in Singapore? 月薪5000元，在新加坡能过得好吗？

[Jeremy1]

Salary can grow. Also depends on the structure of work/active income. Can be variable also.

So not fixed income technically. That one is like pensions annuities or long term bonds.

Depending on your job scope like some technical job is fixed n you can only relaid on OT to make more money.

Insurance agents, property agents n salespeople salary will fluctuate according to market n how well you can get your sales accomplished.

If you looked at those Billionaires, most of them make it rich is because of their stock and also trading instruments.

If your income solely coming from your salary, then you will need to climb higher position to level of CEO.

Else invest early and build up a comprehensive portfolio is another option to go FIRE.

 

[cyke69sg]

There was a friggin long period where hawker prices didn't really move, between 1990 to 2010. That was the greatest time to eat out. It got so ridiculous that eating out was actually cheaper then cooking yourself.

But recenly one-shot catch up already. Eating out inflated by about 50% over the past 5 years. Wages didn't go up that much.

Since Covid wages have jumped a lot for many people.

 

[Jeremy1]

Last time watch movie $5.00 and now weekend is $13-$14...

Mcdonald meal last time is $5.00 and now is $9-$10...

That's why a lot of seniors are traveling to JB cause it's cheaper.

But for Seniors >55yo, cinema ticket is only $4.50 during weekdays before 6 pm except for GV must be >60yo.

 

[cyke69sg]

That's not my point. The point I was trying to make is how much effort do you need to earn that 5k/mth that will likely determine whether it is a good salary or not.

For example I can take on 3 jobs 18 hours a day to earn 20k/mth but is that a "good life"? Or work 8 hours a week to earn 5k/mth.

I see what you mean.

But my question is also relevant. What is the balance for you? Work how many hours earn how much then is good?

Work one day 8 hours make $5k is it good?

 

[1982-1994]

5-7 years later $3k not enough liao.. need $4k already.. then u will still need another 5-7 years to get $6k..

As long as my company provides meals, what I'm getting should be enough

 

[TiedInsurer]

Since Covid wages have jumped a lot for many people.

It did, but lower then inflation rates. In 2019, median wage of a SIM fresh grad is $2.8k. It's now $3.5k. A mere 25% increase. For NUS/NTU, was $3.6k in 2019. It's now $4.6k. A 27% increase. Food has meanwhile inflated by about 50%. Same for transport, and most other core basic needs.

 

[idolcritic]

from the other thread.
https://forums.hardwarezone.com.sg/threads/singapore-salary-reality-check.7142378/#post-156754401

so no 5k, means sinkies all dying?

 

[3G SAINT]

depends on your lifestyle

majority sinkiekias earn below median but still surviving

many boomers earn below $3K and yet manage to bring up a family

Last time 1.5k can own 4room flat now tough

 

[cyke69sg]

It did, but lower then inflation rates. In 2019, median wage of a SIM fresh grad is $2.8k. It's now $3.5k. A mere 25% increase. For NUS/NTU, was $3.6k in 2019. It's now $4.6k. A 27% increase. Food has meanwhile inflated by about 50%. Same for transport, and most other core basic needs.

Yes. But like you said price of cooked food never really moved between 1990 to 2010.
So the adjustment is long overdue.

 

[1982-1994]

Actually you are having a pretty good life. No need to worry about so many things.

The only thing to worry is if my wife passes away before me

 

[cai_png27]

More than enough since someone said 1k can buy hdb before

 

[pohw0008]

Actually I look at price of food vs how much salaries have gone up. vs how much property prices have risen
How much stocks have risen.
I think food prices have not gone up as much. In fact it is relatively cheaper to eat out now than ever before.

Last time got $2 chicken rice 5 years ago.. now min is $3.. so i would say up by 30%.. if your pay up by 30% in the past 5 years then not so bad.

 

[TiedInsurer]

Last time got $2 chicken rice 5 years ago.. now min is $3.. so i would say up by 30%.. if your pay up by 30% in the past 5 years then not so bad.

$2 to $3 is up 50% bro. Not 30%.

 

[pohw0008]

$2 to $3 is up 50% bro. Not 30%.

Sorry was thinking $1 out of $3 bro yes u are right..

 

[PAP4ever]

5k how to bring xmm to dates?

later the xmm hiam

 

[IAmChiobu12M]

I think missed out 1 0, 50k/mth yes very shiok. 5k? Siao ah. And is before or after cpf? Before cpf means take home 4k. Wow so enjoy wor. Sg so expensive 1 caipng at my workplace alr cost knn $7 and is only 1 meat 2 veg.

 

[TiedInsurer]

5k how to bring xmm to dates?

later the xmm hiam

Hard truths. Even if she willing to go dutch with you, also problem, if the XMM is the atas kind every meal want to go restaurant. Wah my wallet really buay tah han. My meal expenses from $300/mth become $1k per month. Damn jialat. Cannot say her also because she paid her own.

 

[cyke69sg]

Last time got $2 chicken rice 5 years ago.. now min is $3.. so i would say up by 30%.. if your pay up by 30% in the past 5 years then not so bad.

You go by percentage increase.

But is that extra $1 really that much.

I guess when I moved from SG to Canada I already had to adjust from $3 chicken rice to $9.90 chicken rice.

Meanwhile my pay was down 100%. No job.

I really don't think the average SGrean complains all too much with the cents increase in a cup of kopi even though it is 30% increase.

Maybe this has hit the low income earners more and I am out of touch with this segment of the population in SG.

 

[TiedInsurer]

You go by percentage increase.

But is that extra $1 really that much.

I guess when I moved from SG to Canada I already had to adjust from $3 chicken rice to $9.90 chicken rice.

Meanwhile my pay was down 100%. No job.

I really don't think the average SGrean complains all too much with the cents increase in a cup of kopi even though it is 30% increase.

Maybe this has hit the low income earners more and I am out of touch with this segment of the population in SG.

Sinkies are a very money-minded people. We do budgeting and accounting, even from my mother's generation who didn't even have primary school education. When we do the budgeting, we don't see the 10 cent increase in kopi. What we see is that costs of eating out has gone from $300/mth to $450/mth, and that bites hard into our budget because our increment for the year only $100. So we start to bitch and moan and look for cheaper alternatives, or just forgo the kopi altogether to bring the budget back in line.

 

[cyke69sg]

Sinkies are a very money-minded people. We do budgeting and accounting, even from my mother's generation who didn't even have primary school education. When we do the budgeting, we don't see the 10 cent increase in kopi. What we see is that costs of eating out has gone from $300/mth to $450/mth, and that bites hard into our budget because our increment for the year only $100. So we start to bitch and moan and look for cheaper alternatives, or just forgo the kopi altogether to bring the budget back in line.

Just make own coffee at home lah.
Cook at home.
The thing is.....this isn't happening. Which means that it is still very affordable and cheap to eat out than to cook at home.

Now some argue about quality of food nutrition etc. That's a totally different discussion though.

Another thing I ask you. What about maids? Foreign domestic maids. Has price gone up?

How many SGrean households still have maid? If have maid why don't have them cook food at home?make kopi for ma'am ?

SGreans by and large well to do. $150 increase is nothing lah.