Tag Archives: cost of living

Top concerns for Singaporeans: Retirement adequacy, healthcare and cost of living

Source: Channel Newsasia, 16 Feb 2015

Source: Channel Newsasia, 16 Feb 2015

The top concerns of Singaporeans are retirement adequacy, healthcare and cost of living. Singaporeans fear having inadequate funds after they retire to cover their daily expenses and higher living cost, especially for those who are still paying their housing loans. Some Singaporeans foresee gaining help from the Silver Support scheme, while some believe that depending on oneself is crucial to pay off home loans and to prepare for their retirement. There is also a greater pool of people requesting for more withdrawal flexibility from their CPF accounts upon retirement.

Many are concerned that healthcare and hospitalisation costs may be very expensive especially for critically ill patients. Such problems will still persist despite of MediShield Life scheme that will be administered in end-2015.

Many Singaporeans also request for more financial assistance to subsidies “everyday goods and services”. Some felt that the government should relief financial burden on food such as distributing grocery vouchers.

Do you share the same concerns as what is stated above? Or do you have other concerns? Are you adequately prepared for your future in terms of medical costs, increasing cost of living and your retirement? If you don’t prepare and delay it longer, the shorter time you have left. Financial planning starts now and you re-adjust your financial plans as you pass through different phases of your life. Do you want to be in control of your finances without any uncertainty or do you want to delay your planning and live life full of uncertainties?

Please like & share:

Hawker food prices up by 10-20%

Source: TODAY, 21 Oct 2014

Source: TODAY, 21 Oct 2014

According to a survey of 503 hawker stalls by Consumers Association of Singapore (CASE), common hawker food prices have been seen increasing by 10 to 20 per cent from 2012. Hawkers associate the increased to higher rental, ingredients and wages. However, CASE, noted that prices are still affordable for the average consumers, with some hawker food stalls selling below the mode price – about half of the surveyed chicken rice and mixed-vegetables rice stalls are doing so. A chicken rice-porridge hawker mentioned that rise in her price of chicken rice is unavoidable due to higher wages per hour, from S$5 to S$8 per hour, and rental that rise up to S$8000 per month. There are also hawkers who insist in maintaining their food prices in order to retain their accustomed customers. A student said that he has seen rising food cost but serving portion decreasing too. Rising food prices will also make savings more difficult.

The rising hawker food cost will definitely prick most of us. If hawker food prices continue to rise, will you decide to pay a little more for café food in the future? Will you be willing to top up a little more to dine with better ambience or to have your meal in a humid hawker centre? Or will you cook at home so that you can cut down on your food expenses?

Please like & share: