Faster than speed of light: Singaporeans' personal bills spiked as much as 25%

[hyenergix]

Faster than speed of light: Singaporeans' personal bills spiked as much as 25%
ECONOMY, HR & EDUCATION | Staff Reporter, Singapore Published: 4 hours ago
Faster than speed of light: Singaporeans' personal bills spiked as much as 25%

And some are starting to complain.

Singaporeans will have to work double time and overtime just to survive the demanding lifestyle of residing in the world's most expensive city. Prices of everything has shot up, from the small luxury of eating out at omakase restaurants down to the most mundane needs such as phone bills and groceries--and Singaporeans are starting to cringe at the lash of price hikes.

CIMB recently conducted its Cost of Living survey, they focused on what accounts for the largest wallet share of Singapore residents: basic necessities.

Here's more from CIMB:

Our survey finds that an overwhelming majority (70%) now spend a higher proportion of their disposal income on groceries, utilities and children’s education than two years ago.

About 43% reckon that the dollar amount they spend on groceries and utilities has increased by 25-50% while 42% estimate that their bills have gone up by 1-25%.

Similarly, most (54%) estimate that the cost of eating out has jumped by 25-50% over the past two years.

One respondent, who has lived in Hong Kong and Singapore, told us that between the two cities, eating out in Singapore is certainly more expensive these days.

In other words, half of our households believe that their experience with food inflation is higher than Singapore’s reported core inflation of 1.7-2.5% for 2012-13. To be sure, the typical household might not be measuring the same basket of goods as the CPI.

As our colleagues observed, two years ago, there was only a handful of omakase restaurants serving S$300/head meals.

Today, that number has multiplied manifold. Also, as children grow up or as more members are added to the brood, it is natural that household bills will grow.

For instance, one respondent gave us the feedback that her household bill is rising, as the family now needs two domestic helpers, after the arrival of her second child. (She recently moved to Sydney and laments that in Sydney, it is not about costs; you cannot even find domestic helpers).

- See more at: http://sbr.com.sg/economy/in-focus/f....zFeoWgCH.dpuf

[Simi]

With Minimum Sum in CPF being raised and cannot be withdrawn

Very soon more and more have to take up 2nd job to make ends meet
no need to sleep and no need to retire

[hyenergix]

With Minimum Sum in CPF being raised and cannot be withdrawn

Very soon more and more have to take up 2nd job to make ends meet
no need to sleep and no need to retire

I guarantee you more PRs will retire in JB. They are now buying up the landed properties there.

[Simi]

CPF Minimum Sum should be Raised to S$195,000
and Medisave to S$56,000 with immediate effect

This is to beat Inflation

[darkseed73]

[SIZE="3"][B]Faster than speed of light:
For instance, one respondent gave us the feedback that her household bill is rising, as the family now needs two domestic helpers, after the arrival of her second child. (She recently moved to Sydney and laments that in Sydney, it is not about costs; you cannot even find domestic helpers).

- See more at: http://sbr.com.sg/economy/in-focus/f....zFeoWgCH.dpuf

Ermm...govt says it's not things are expensive. It's ppl's expectation makes things expensive.

Last time my grandma has 10 grand children also don't have any maids.

My mom have 2 kids also don't have maids.

This person have second kids, needs 2 maids? Something must be wrong somewhere.

[hyenergix]

Ermm...govt says it's not things are expensive. It's ppl's expectation makes things expensive.

Last time my grandma has 10 grand children also don't have any maids.

My mom have 2 kids also don't have maids.

This person have second kids, needs 2 maids? Something must be wrong somewhere.

Partly true that expectations have gone up.

During grandma's time if you finished your "O" level you can find a very good supervisory or managerial job. Now even with a degree you might be jobless.

It is just getting tougher even to go back to the good old days' standard of living.

[chestnut]

With Minimum Sum in CPF being raised and cannot be withdrawn

Very soon more and more have to take up 2nd job to make ends meet
no need to sleep and no need to retire

Bro, when u retire, you have time on your hand....
Here's what u can do :
1. Source for less expensive items....
2. Go for holidays during off peak season and save..l
3. You eat less outside food - why??? Your metabolism rate has dropped and you cannot afford to eat "rich" food, coke, etc... And you now share food with the other half.
4. You can watch movie during off peak.
5. You have concession for many things...

So to a certain extend. Things do become 'cheaper'. Hahahahaha

Btw, was in Bangkok yesterday. Now in pattaya... Everything ok leh... Hotel super cheap. But golf course packed with people... Hahahaha

[Simi]

Bro, when u retire, you have time on your hand....
Here's what u can do :
1. Source for less expensive items....
2. Go for holidays during off peak season and save..l
3. You eat less outside food - why??? Your metabolism rate has dropped and you cannot afford to eat "rich" food, coke, etc... And you now share food with the other half.
4. You can watch movie during off peak.
5. You have concession for many things...

So to a certain extend. Things do become 'cheaper'. Hahahahaha

Btw, was in Bangkok yesterday. Now in pattaya... Everything ok leh... Hotel super cheap. But golf course packed with people... Hahahaha

Bro you are always so positive and seems to have an answer and solution for everything good and bad and what come may

Pei fu pei fu

Enjoy your self in naughty Pattaya

hahahaha

[teddybear]

Financial aid then need to raise to $1000 pm and min wage raise to $2000 pm?

CPF Minimum Sum should be Raised to S$195,000
and Medisave to S$56,000 with immediate effect

This is to beat Inflation

[Simi]

Financial aid then need to raise to $1000 pm and min wage raise to $2000 pm?

You have to ask those Pro CPF whether they agree to it ?

Because raising CPF minimum to 195k and MediSave 56k

overnight is like 250K in total

don't know if I am affected cos $69.5k already went to CPF Life

[kane]

Bro, when u retire, you have time on your hand....
Here's what u can do :
1. Source for less expensive items....
2. Go for holidays during off peak season and save..l
3. You eat less outside food - why??? Your metabolism rate has dropped and you cannot afford to eat "rich" food, coke, etc... And you now share food with the other half.
4. You can watch movie during off peak.
5. You have concession for many things...

So to a certain extend. Things do become 'cheaper'. Hahahahaha

Btw, was in Bangkok yesterday. Now in pattaya... Everything ok leh... Hotel super cheap. But golf course packed with people... Hahahaha

item 2 harder to implement for those with school going kids. of course there's the alternative of not going for a holiday. lol.

[chestnut]

item 2 harder to implement for those with school going kids. of course there's the alternative of not going for a holiday. lol.

If a person retire with school going kids, very high chance the person got quite a fair bit of money so this part should not be an issue...

[hopeful]

Ermm...govt says it's not things are expensive. It's ppl's expectation makes things expensive.

Last time my grandma has 10 grand children also don't have any maids.

My mom have 2 kids also don't have maids.

This person have second kids, needs 2 maids? Something must be wrong somewhere.

how does people's expectations makes thing expensive?

[teddybear]

Got lah, e.g. there are people who wanted a car but a Cherry QQ will do, while others need at least a Merc or BMW (never mind a Class A or a BMW316).

Some people can eat at coffeeshops and hawker centres, while others must be at least air-con food courts and better still in restaurants.

Some people can afford a big landed but prefer a decent size 3BR condos, while others can barely afford a 3BR condos but still want to live in a big landed.............

Another example is people's expectations make their salary need to be very expensive - e.g. if a minister doesn't have $Millions salary, he may be looked down by the corporate chiefs and difficult to negotiate terms with them and set new laws and regulations to govern them......

how does people's expectations makes thing expensive?

[hopeful]

Got lah, e.g. there are people who wanted a car but a Cherry QQ will do, while others need at least a Merc or BMW (never mind a Class A or a BMW316).

Some people can eat at coffeeshops and hawker centres, while others must be at least air-con food courts and better still in restaurants.

Some people can afford a big landed but prefer a decent size 3BR condos, while others can barely afford a 3BR condos but still want to live in a big landed.............

Another example is people's expectations make their salary need to be very expensive - e.g. if a minister doesn't have $Millions salary, he may be looked down by the corporate chiefs and difficult to negotiate terms with them and set new laws and regulations to govern them......

not very illustrative.
people do understand mercedes cost more than qq.
what people dont understand is why mercedes & qq go up every year.
what kind of expectation that leads to merc and qq go up every year?

to use your often-used example
you eat chicken rice at hawker centre in 1990 and in 2014.
your expectation the same. but now it cost more in 2014 and you need to eat 2 plates some more
what kind of expectation that leads to chicken rice go up in price.
same hawker center, same non-airconditioned place.

[teddybear]

You made a very good point about "INFLATION".

The problem is, some people either cannot understand or they are trying to give you "duck" when you ask about "chicken", so to speak. ..............

not very illustrative.
people do understand mercedes cost more than qq.
what people dont understand is why mercedes & qq go up every year.
what kind of expectation that leads to merc and qq go up every year?

to use your often-used example
you eat chicken rice at hawker centre in 1990 and in 2014.
your expectation the same. but now it cost more in 2014 and you need to eat 2 plates some more
what kind of expectation that leads to chicken rice go up in price.
same hawker center, same non-airconditioned place.