Personal Finance
Triple Threat: How to Avoid Getting Crushed by Slower Wage Growth, Higher Inflation & Interest Rates
By Seedly  •  September 1, 2023
As a personal finance writer, I am acutely aware of the recent increases in the cost of living in Singapore. But the reality of it really hit home when I saw that the price of my favourite wanton mee at the newly refurbished coffeeshop near my place went up yet again this year. A bowl of wanton mee that cost only $4 last year became $4.50 after the 2023 GST hike in January. The latest hike brought the price to $5.  Although the price of the wanton mee ‘only’ went up by $1 in absolute terms, this marks a 25% increase in price, which is pretty substantial. These price increases are happening at a national level as well. If you look at the inflation numbers for February 2023, one month after the GST hike, food prices increased by 8.1% compared to a year ago: Singapore Inflation Rate February 2023 Source: Department of Statistics Singapore...
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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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