Singaporeans who are not planning to settle down, do take note. It is actually more expensive to stay single.
According to Lee Kuan Yew School of Public Policy’s latest finding, here’s how much a household needs to meet their basic needs:
Demographic of household How much you need for basic needs Single elderly household $1,379 per month Coupled elderly household $2,351 per month Single person(aged 55 - 64 years old)
$1,721 per monthsource: Lee Kuan Yew School of Public Policy
To break this down even further, here’s a breakdown of where a typical Singaporean elder spends on, every month.
Category Retired(Percentage of monthly expenses)
Single Elderly(Percentage of monthly expenses)
Elderly as a couple(Percentage of monthly expenses)
Single before retirement from age 55-64(Percentage of monthly expenses)
Food and non-alcoholic drinks 17% 14% 20% 11% Food serving services 11% 15% 15% 16%...
