Singapore median monthly household income last year was S$9,023

[Mergui219067]

Among households headed by a Singapore citizen or permanent resident which had at least one working person, the median monthly income grew 2 per cent in nominal terms to S$9,023 last year, from S$8,846 in 2016.

Read more at https://www.channelnewsasia.com/new...income-grew-in-2017-income-inequality-9939710

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[JuniorLion]

Ok.
Focus more on income, or savings?

I'd say focus on savings more =)

 

[Mergui219067]

You need a minimal sum every month for expenses.
How much do you want to save is your choice.
Don’t be surprised that many high income families here are frugal ,unlike those in low end.

Smoking , drinking & cabs are usually unnecessary extra expenses

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[KinoChoco]

You need a minimal sum every month for expenses.
How much do you want to save is your choice.
Don’t be surprised that many high income families here are frugal ,unlike those in low end.

Smoking , drinking & cabs are usually unnecessary extra expenses

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And you will see most of the average families in SG, traveling 1-2 times a year, spending unnecessarily money and whine about Singapore being expensive

 

[deepblueli]

This number doesn't look realistic, is it because it includes both employee and employer contribution to cpf?

 

[Perisher]

And you will see most of the average families in SG, traveling 1-2 times a year, spending unnecessarily money and whine about Singapore being expensive

Unnecessary spending is dependent on individuals... definitely not a need.
see what you prioritise more in life. Sg is expensive though.

 

[hwmook]

This number doesn't look realistic, is it because it includes both employee and employer contribution to cpf?

Of course include employee CPF, employer CPF, bonus and OT. Average household is also more than 2 working adults, usually 2.2-2.4.

 

[Mecisteus]

And you will see most of the average families in SG, traveling 1-2 times a year, spending unnecessarily money and whine about Singapore being expensive

1-2 times travelling to nearby places makes a lot of difference compared to travelling 1-2 times to US or Europe.

 

[ocs_woodlands]

Repost from the less educated side of HWZ forums aka EDMW.

I will say the same thing i said last year.

Median HH income of 9023 × 12 = $108276k inclusive of employer CPF is dam.n LOW.

108276/1.17/14.2 = $6610.
*singstat stats that average bonus for 2017 is 2.2 months so divide by 14.2 months.

2 pax working - $3305 pm
3 pax working - $2203 pm

2 poly fresh grad kids + Father working as delivery man = median HH income

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[KinoChoco]

1-2 times travelling to nearby places makes a lot of difference compared to travelling 1-2 times to US or Europe.

1-2 times to places like HK and Taiwan.

There are many people in other countries that doesn't even get to travel anywhere for a year and not as whiny. lol

 

[KinoChoco]

Unnecessary spending is dependent on individuals... definitely not a need.
see what you prioritise more in life. Sg is expensive though.

SG is definitely not cheap, but definitely live-able and not like many people who whine and say until they are living a pathetic life.

 

[Perisher]

SG is definitely not cheap, but definitely live-able and not like many people who whine and say until they are living a pathetic life.

Singaporeans generally do not live a pathetic life but definitely is expensive to live here.

I think the whining is more directed towards improvement in life, are we progressing or going backwards this past 2 decade?

People in the 60s-90s has been going forward in life, both in real income and environment etc...
People since 2000s hasn't really progress while living expenses shoot up.
That explains why they are complaining much more now.

 

[imbalance]

Good insight!

Repost from the less educated side of HWZ forums aka EDMW.

I will say the same thing i said last year.

Median HH income of 9023 × 12 = $108276k inclusive of employer CPF is dam.n LOW.

108276/1.17/14.2 = $6610.
*singstat stats that average bonus for 2017 is 2.2 months so divide by 14.2 months.

2 pax working - $3305 pm
3 pax working - $2203 pm

2 poly fresh grad kids + Father working as delivery man = median HH income

 

[crimsontactics]

Repost from the less educated side of HWZ forums aka EDMW.

I will say the same thing i said last year.

Median HH income of 9023 × 12 = $108276k inclusive of employer CPF is dam.n LOW.

108276/1.17/14.2 = $6610.
*singstat stats that average bonus for 2017 is 2.2 months so divide by 14.2 months.

2 pax working - $3305 pm
3 pax working - $2203 pm

2 poly fresh grad kids + Father working as delivery man = median HH income

Posted with Common Sense HardwareZone Forums app

How to find average bonus?

Sent from . using GAGT

 

[Mergui219067]

It is okay to travel but the cost can differ .
The countries visiting / airlines / 4-Star hotel / big lobster/crabs / luxury item make a lot of difference.

And you will see most of the average families in SG, traveling 1-2 times a year, spending unnecessarily money and whine about Singapore being expensive

This time is different 😳 HardwareZone Forums app

 

[Mergui219067]

Don’t agree fully .
Many expats / those Sinkies who stay in more advanced overseas cities would say Singapore is not too ex .

Housing cost with HDB flats is reasonable.
Car ownership / smoke / drinks / top end meals & items / stay CCR condo are optional.

Sg is expensive though.

This time is different 😳 HardwareZone Forums app

 

[Perisher]

Don’t agree fully .
Many expats / those Sinkies who stay in more advanced overseas cities would say Singapore is not too ex .

Housing cost with HDB flats is reasonable.
Car ownership / smoke / drinks / top end meals & items / stay CCR condo are optional.

This time is different 😳 HardwareZone Forums app

Not I say de, you anyhow type most expensive cities in the world, sure see Singapore listed as top few.
https://www.cbsnews.com/news/the-most-expensive-cities-in-the-world-in-2017-are-mostly-in-asia/

Don't have to compare certain things, on the whole Sg is sure one of the most expensive cities in the world. No matter how you cut it.
Problem is not just whether we are expensive, is also whether our salary has kept pace?
For the last 2 decades, I would say no.

 

[Mr.Canberra]

Not I say de, you anyhow type most expensive cities in the world, sure see Singapore listed as top few.
https://www.cbsnews.com/news/the-most-expensive-cities-in-the-world-in-2017-are-mostly-in-asia/

Don't have to compare certain things, on the whole Sg is sure one of the most expensive cities in the world. No matter how you cut it.
Problem is not just whether we are expensive, is also whether our salary has kept pace?
For the last 2 decades, I would say no.

Confirm wages in Singapore never kept in pace with cost of living.

Just came back from USA and I compare the average prices for fast casual dining. Almost the same if not US$1-3 more expensive than Singapore only. The difference is their F&B wages are marginally higher than Singapore.

 

[Mr.Canberra]

Food buy from supermart is more expensive in Singapore than many other developed countries!

Damn it! Most basic necessities in Singapore are just so much more expensive in Singapore than other developed countries, like electricity, water, raw food, medicine from pharmacy etc!

You can google and easily find the research report comparing prices of milk, bread etc you can buy in Singapore supermart and other developed countries and Singapore mostly more expensive!

I just don't understand, why medicine I buy from pharmacy e.g. NTUC Unity Pharmacy is so much more expensive than say in London!

This is the government that 70% voted for as have clear mandate for MIW to carry out their policies.

In most high living cost countries you can be low income earner but basic necessities and services are reasonably priced. However in Singapore from food to healthcare, housing, etc. walau eh! Sibei chum!

Also compare food court price lor.

See if u can get a meal in London for less than £5. Probably just a small sandwich from pret. Here can get smth decent for $3.50

Don't forget wages in U.K. is so much higher ok. In each major city there are certain places where you can get products and services at a lower price. If you have travelled extensively enough you will know what I mean. Singapore and Hong Kong are exceptions to this rule due to high population density living. High population density living is the cause to high living costs.

What you are doing is selective comparison and not accurate. That is why must compare overall prices of products and services including food, drink, clothing, household supplies and personal care items among others, converted to U.S. dollars.

 

[KinoChoco]

This is the government that 70% voted for as have clear mandate for MIW to carry out their policies.

In most high living cost countries you can be low income earner but basic necessities and services are reasonably priced. However in Singapore from food to healthcare, housing, etc. walau eh! Sibei chum!



Don't forget wages in U.K. is so much higher ok. In each major city there are certain places where you can get products and services at a lower price. If you have travelled extensively enough you will know what I mean. Singapore and Hong Kong is exception.

What you are doing is selective comparison and not accurate. That is why must compare overall prices of products and services including food, drink, clothing, household supplies and personal care items among others, converted to U.S. dollars.

Well, and Singapore is also ranked 6th in being the richest country in the world, and i do see most Singaporeans are rich here. I've nothing to complain about, i lead a pretty decent life with an average income as long you know how to spend and invest wisely.

Less complain, more action