- 25% of young Singaporeans have less than $6000 in savings
- 36% have no savings at all
- 4/5 said they spend money which are suppose to be put aside for mortgage insurance
- Only 1/3 of people plan to buy a home than to rent
There are some surveys that are made to spread awareness about the services that they provide. This survey seems like one of them.
I was first alerted to this survey by my friend, published in Singapore Business Review: Disaster in the making: 4 out of 5 young Singaporeans have no savings
That is a sweeping statement to make. It is bound to perk up all our attention. Are Singaporeans between the age of 20 to 35 years old that bad?
The survey alludes: