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Thread: Is Singapore getting too expensive for the middle class?

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    Default Is Singapore getting too expensive for the middle class?

    Next week Channel News Asia will be starting a new season of Talking Point and they will kick off with this topic.

    I believe many of us belong to this category, falling into the 'comfortable' category, being able to support ourselves, our families and have some spare left over for hobbies, such as hifi, photography etc.

    Many of us are will also fall into the 25-45 band with a spread into the upper spectrum too, and some students.

    So is it getting too expensive for us to live in our own country and what would you like to see?

    Bear in mind that it's easy to ask for goodies, but someone has to pay for them, and it's naive to ask for the 'not in my tax file' mentality, where everyone expects someone else to pick up the tab.

    Instead, what can we hope to ask our government for that will benefit us?
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    Default Re: Is Singapore getting too expensive for the middle class?

    Still a few classes below middle class, so have no idea how the middle class feel.

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    Default Re: Is Singapore getting too expensive for the middle class?

    Definitely yes, just above the boundary to get goverment subsidies, and not rich to igonre the increasing expenses, and still have so much loan to pay for the only house...
    What's more, still need to support the young kids and elder parents.
    Last edited by nightbug; 26th March 2014 at 10:31 PM.

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    Senior Member richiemccaw1's Avatar
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    Default Re: Is Singapore getting too expensive for the middle class?

    The income gap doesnt have to be that big. It is our current government's policy that has caused Singapore to become the way it is today. All the focus on the finance industry. Yes it has created some jobs, but definitely not as many as what the government likes us to think there are. More people = more demand for everything, and hence raised prices especially when it comes to land.

    Also, I think it is time that the government started using our reserves for something that is more tangible than just storing away for a very very rainy day. Increasing the CPF minimum sum is one of the moves that seems to be used to keep our money tied up for longer and longer. Very fishy.

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    Default Re: Is Singapore getting too expensive for the middle class?

    Every thing is expensive as long you buying it. Just learn to cut cost on some other things like less BBB?
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    Ask not what your country can do for you, ask what you can do for your country.

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    Senior Member richiemccaw1's Avatar
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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by BBTM View Post
    Every thing is expensive as long you buying it. Just learn to cut cost on some other things like less BBB?
    Singaporeans are generally quite kiasu and hence in a way, competitive. If you dont BBB, means GG!! Like if dont pay through the nose for tuition, means grades potentially will GG. If dont buy 1DX to shoot, photos will GG.

    How to survive if dont BBB?

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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by richiemccaw1 View Post
    Singaporeans are generally quite kiasu and hence in a way, competitive. If you dont BBB, means GG!! Like if dont pay through the nose for tuition, means grades potentially will GG. If dont buy 1DX to shoot, photos will GG.

    How to survive if dont BBB?
    Later CC company will charge you interest if you BBB and then no $ to PPP. I been there, now can control, phew!
    Only Sony device mostly, haha!

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    Senior Member richiemccaw1's Avatar
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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by BBTM View Post
    Later CC company will charge you interest if you BBB and then no $ to PPP. I been there, now can control, phew!
    Havent gotten to that stage yet. Hope I wont! Thanks for reminding

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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by richiemccaw1 View Post
    Havent gotten to that stage yet. Hope I wont! Thanks for reminding
    Better don't. It's bad. Buy what you need and not what other got. When you no $ that time, no one pity you.
    Only Sony device mostly, haha!

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    Senior Member Dfive's Avatar
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    Default Re: Is Singapore getting too expensive for the middle class?

    never walk into camera stores helps....
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    Senior Member richiemccaw1's Avatar
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    Quote Originally Posted by BBTM View Post

    Better don't. It's bad. Buy what you need and not what other got. When you no $ that time, no one pity you.
    Agreed.. Haha I am at the stage where I walk into camera shops and I find it hard to want to buy something. I know the limiting factor is myself. Not my gear

    Anw if the government were to monitor camera shops business, they would def think Singapores economy is doing very well!

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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by Dfive View Post
    never walk into camera stores helps....
    I can walk in, sit there TC, but come out without spending. As long I spend before, the owner is ok with me.
    Only Sony device mostly, haha!

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    Senior Member Big Kahuna's Avatar
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    Default Re: Is Singapore getting too expensive for the middle class?

    How do you define middle class? People earning 75k/annum or 150k/p annum?

    If the 150k guy want to drive a salon car to work in Raffles place and living in condo in Bukit Timah area, he is definitely more stressful than the MRT and Seng Kang HDB 75k guy

    At the end of the day, it's the relentless chasing of lifestyle that costing us, wonder why the highest happiness index scoring countries are those less developed one?

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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by richiemccaw1 View Post
    Singaporeans are generally quite kiasu and hence in a way, competitive. If you dont BBB, means GG!! Like if dont pay through the nose for tuition, means grades potentially will GG. If dont buy 1DX to shoot, photos will GG.

    How to survive if dont BBB?

    What you said is the very reason why 'Middle Class' felt squeeze. Kept trying to keep up with the Joneses... Keep needing to buy and buy the latest inorder to feel you are ahead of the competition...

    I've survive by not having the BBB virus... I did it by NOT giving a d*mn about 'The Joneses' who appeared having more than me... I've learned long time ago NOT to compare myself with those around me... I live my life as debt free as possible... and while SG is getting $$$$... at least its less of an issue for me...

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    Default Re: Is Singapore getting too expensive for the middle class?

    Quote Originally Posted by richiemccaw1 View Post
    Agreed.. Haha I am at the stage where I walk into camera shops and I find it hard to want to buy something. I know the limiting factor is myself. Not my gear

    Anw if the government were to monitor camera shops business, they would def think Singapores economy is doing very well!
    Not only camera shop. A lot of things, some time out of control. Like online gaming, you sees that item nice, whack. You need extra power cards, whack! Must stop gaming one of this day and concentrate on photography will do, haha!
    Only Sony device mostly, haha!

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    Senior Member richiemccaw1's Avatar
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    Quote Originally Posted by diver-hloc View Post

    What you said is the very reason why 'Middle Class' felt squeeze. Kept trying to keep up with the Joneses... Keep needing to buy and buy the latest inorder to feel you are ahead of the competition...

    I've survive by not having the BBB virus... I did it by NOT giving a d*mn about 'The Joneses' who appeared having more than me... I've learned long time ago NOT to compare myself with those around me... I live my life as debt free as possible... and while SG is getting $$$$... at least its less of an issue for me...
    Im working hard on resisting the urge to keep up. So far not too bad, no driving licence=no car, no money=no camera gear. Hopefully won't get sucked into the whole out-tuition everyone else syndrome.

  18. #18

    Default Re: Is Singapore getting too expensive for the middle class?

    We should ask how we can turn cash flow into income generating assets.

    Let's ask how we can expand our income instead of how we may save more. Just like LFC score more goal than opposite side to win
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  19. #19

    Default Re: Is Singapore getting too expensive for the middle class?

    GDP and wages growth rates are way below inflation rates
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    Moderator ed9119's Avatar
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    Default Re: Is Singapore getting too expensive for the middle class?

    some people if you give them $50,000 a month to spend will still complain its not enough for a family with 2 kids while a despatch rider from our office seems to be doing just fine with 3 kids and smiling every day

    go figure
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