Live within your means
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Feb 18, 2011 - ST Forum
I AGREE with Mr Jolly Wee's point of view ("Rising cost of living: Many can manage if they live within their means"; Tuesday).
I belong to the 30-to-35 age group. In recent years, I have observed that, on average, fresh graduates are getting a starting pay of more than $2,000 a month. However, most are spending it on material items such as branded goods, expensive holidays and cars - which are not needs but lifestyle pursuits. This will have an impact on their savings when they need to purchase a flat later on. Meanwhile, their salaries would have grown but not their savings. This will ultimately lead to complaints that flats are priced beyond their means. They would then want the Government to raise the combined income ceiling of $8,000 in order to be eligible to purchase a subsidised flat.
There is no doubt that prices of flats have increased over the last few years, but they are still affordable. This is taking into consideration the fact that the $8,000 ceiling applies at the point of application, and that a new Build-To-Order or Design, Build and Sell scheme flat will take around three years on average to be ready. By the time the keys to the new flats are handed over, most couples' combined incomes would exceed the $8,000 ceiling, depending on the industry they work in.
I think it is high time people learn to practise financial prudence and spend what they can afford. The income ceiling is more than adequate and should stay at that level. After all, this ruling is to help the lower income group whose salaries are lower than the income ceiling, or whose salaries stagnate over a long period of time.
Benjamin Yeo
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yes... hdb flats are very affordable.... fresh graduates pay have gone down like 25% since 10 years ago but flats up 25% 10 years later... who u trying to kid?
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10 years ago, fresh grad salaries were around $2,000.
Now, fresh grad salaries are around $2,000.
I will make a wild prediction that fresh grad salaries will be around $2,000 in 10 years' time.
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Originally posted by charlize:
10 years ago, fresh grad salaries were around $2,000.
Now, fresh grad salaries are around $2,000.
I will make a wild prediction that fresh grad salaries will be around $2,000 in 10 years' time.
haiz. bad times. how to have a high birth rate? how?
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ben yeo, u which RC one, or which branch of PAP one?
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People should start to learn how to save.
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first, if sg women could help us keep their wants/ needs/ gifts within low expectations and our means...
such slogans should be a mandatory read for sg women
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my NTU canteen now become food court.
meals close to $3.
my friend buys rice with 3 vege, $1.80
i buy rice, 1 meat, 2 vege, $3.
we drink from watercooler.
jin sad. the cheap canteens are a thing of the past. "standard uni allowance" from my dad has never gone up since the time my 32-year-old brother went into uni. -
i think prudence is not an easy word to apply in singapore. Somehow singaporeans have to pay all their lives. From houses to cars and .......new cars and.......new cars again :)
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A lot of uni grads have to pay off their uni study loans for the first few years of their working life.
And usually it's to be put back into the parents' cpf accounts.
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Originally posted by charlize:
A lot of uni grads have to pay off their uni study loans for the first few years of their working life.
And usually it's to be put back into the parents' cpf accounts.
and then the parents die penniless with lots of money in cpf accounts -
what has savings got to do with hdb flats when we are paying via cpf.
and dont forget the kind of interest we pay for housing loans. so the price of a hdb flat is actually much much higher.
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I think these days, the cpf cant pay for the entire loan. Cash is definitely a big player in the market now.
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Yes, totally agree cash is a big player in the market. But most importantly we must know how to manage it. We can't just keep cash in the bank, it simply can't big the Inflation monster...4% leh...
Well, I think Cash flow is KING now. :)
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the writer maybe mistaken foreigner to Singaproean.....or maybe thinking that a fake handbag is considered branded goods......
I would just says this.....Its expensive living in Singapore. Living within your means - True, but ......
How do you compete if you do not have a blackberry to reply e-mail 7x24? and access information on the internet.
how dou compete when you fall sick and need money to pay insurance coverage to help pay your bills.
How do u compete when u need to take 1.5 hours public transport to go to work and still have the energy to focus at work.
How do you compete when your diet lack calories.....to nurish the basic foundation of your Body to Think and move.
Live within your means.......think again....!!!!
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Live within your means - $400 should be enough for 1 month of basic living.
That's about how much money those on social assistance is getting.
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Originally posted by Arapahoe:
the writer maybe mistaken foreigner to Singaproean.....or maybe thinking that a fake handbag is considered branded goods......
I would just says this.....Its expensive living in Singapore. Living within your means - True, but ......
How do you compete if you do not have a blackberry to reply e-mail 7x24? and access information on the internet.
how dou compete when you fall sick and need money to pay insurance coverage to help pay your bills.
How do u compete when u need to take 1.5 hours public transport to go to work and still have the energy to focus at work.
How do you compete when your diet lack calories.....to nurish the basic foundation of your Body to Think and move.
Live within your means.......think again....!!!!
ie no means to live.
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With $400 you can buy 173 loaves of Gardenia Jumbo bread, should be able to last 1 year.
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Originally posted by BanguIzai:
People should start to learn how to save.
Yes, pple need to save and not spend like drinking water.We never know when the next wave of fare hike coming.
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so what is the cost price of a hdb flat?
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Originally posted by βÎτά:
With $400 you can buy 173 loaves of Gardenia Jumbo bread, should be able to last 1 year.
Why buy branded bread?
Buy the generic no name bread which comes in a transparent plastic bag.
Those are cheaper.
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Originally posted by gLc:
so what is the cost price of a hdb flat?
It does not matter because it is already affordable.
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Originally posted by Junyang700:
yes... hdb flats are very affordable.... fresh graduates pay have gone down like 25% since 10 years ago but flats up 25% 10 years later... who u trying to kid?
Actually, still affordable leh.
I survived damn long liao. Then again I bought during the lowest peak.
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Wow....so many Cheaper, Fasterer, and Betterer!!!!
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Welcome to Singapore.