Personal Finance
How Much Do You Need for a ‘Basic’ Standard of Living in Singapore? 5 Things I Learnt From LKYSPP/NTU’s Minimum Income Standard Study
By Seedly  •  October 10, 2021
If you ever wondered how much you need to support a basic standard of living in Singapore, you might want to take a look at this study: Source: Whatsenough.sg This study entitled: What People Need in Singapore: A Household Budget Study (2021) was created with the express goal to determine ‘how ordinary Singaporeans think about what constitutes basic needs in Singapore today and determines the household budgets necessary to meet these needs.’ In addition, the researchers are zeroing in mainly on two types of households, parents with two children (aged 7-12 and 13-18) and single parents with one child (aged 2-6). Not to mention that the researchers have updated the numbers for a previous May 2019 MIS study which examined how much elderly persons aged 65 years and older and single adults aged 55-64 years old need for a basic standard of living in Singapore. Here are the study’s key findings and our breakdown of them. TL;DR: Cost of Living Singapore Basically, you can say that this study is about finding out what...
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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