80% of Sinkies are poor with at most 20k in banks

[lifeafter41]

Nice! I enjoy being poor..... Free food....just like countries with social ills. Just grab cash from taxpayers and spend it all on booze and drugs....that's pretty!

It is not easy to save up and have more than 20k in today's Singapore, where almost everything is going up and wages stagnating.

I remember coming across an article where it says that more than 30% of the hdb 4 roomers and 5 roomers are behind in their utility bills. I am sure it would include the S and C charges too.

I see no reason why the MAS would want to make up the figures when it states that.

Most would probably have savings below 10k, is how I sees it.

 

[zhihau]

It is not easy to save up and have more than 20k in today's Singapore, where almost everything is going up and wages stagnating.

got about 20K lah, locked inside CPF considered got money?

 

[Aussie Pete]

So, you still say Sinkies is rich? You must be kidding.

Poor peasants. My hear cry out for you Sinkies. You are damned poor by 1st world standard. Just a mere 245k net worth.

And I am overly generous in my calculation, ah but then.

By 1st world standard?? I know many, many, many people in 1st world countries would love to have a net worth of $245K... they would love to experience the unemployment rate in SG, and to them, investing in their own property / apartment is just a dream that they will never ever have the opportunity of doing before they die (and $20K in the bank, unheard of to many people elsewhere). I can sort of follow your mathematics, but do not see the correllation you make with '1st world' countires.

 

[lifeafter41]

got about 20K lah, locked inside CPF considered got money?

Of course consider got money lah, just that can see but cannot spend.

 

[zhihau]

Of course consider got money lah, just that can see but cannot spend.

lol... just like the expensive pigeon hole we're staying in... only thing is that the toilet bowl can't be eaten... who say Singaporeans don't have money? hor?

 

[lifeafter41]

lol... just like the expensive pigeon hole we're staying in... only thing is that the toilet bowl can't be eaten... who say Singaporeans don't have money? hor?

If you think about it, if the household were to earn say 3k per month, with savings of less than 10k (based on my estimate), anything happened, such as retrenchment, medical emergency, most of it would be wipe out.

That explains why there is the owing of the utilities and s and c charges among the heartlander.

 

[TeeKee]

got about 20K lah, locked inside CPF considered got money?

you can unlock it by throwing away your passport :P

 

[zhihau]

If you think about it, if the household were to earn say 3k per month, with savings of less than 10k (based on my estimate), anything happened, such as retrenchment, medical emergency, most of it would be wipe out.

That explains why there is the owing of the utilities and s and c charges among the heartlander.

the amount of disposable cash is low for a good portion of the local community, but think they do need some financial planning, some good planning.

 

[zhihau]

you can unlock it by throwing away your passport :P

certainly a great idea, but how do you know i haven't thought of it?

 

[NissanViP]

Homes at 6 figures? Are you kidding me?
Let's do some sanity check now, shall we?

MAS cannot be lying. Unless it is not 20k in the bank but more. If more, then the deposit insurance is inadequate for most of the depositors. Simple fact, so stop being in denial mode please.

On serious thought, I wish to see more people like to give clear information or educate those STUPID 66.66% Singafuckporean who voted PAP about their net worth in Singapore.

Thank you for your effort in providing a good break down information.

 

[masgnoeL]

By 1st world standard?? I know many, many, many people in 1st world countries would love to have a net worth of $245K... they would love to experience the unemployment rate in SG, and to them, investing in their own property / apartment is just a dream that they will never ever have the opportunity of doing before they die (and $20K in the bank, unheard of to many people elsewhere). I can sort of follow your mathematics, but do not see the correllation you make with '1st world' countires.

So, now you are saying Sinkie is BETTER THAN 1st world?
In a country with no social security for its people, with $245k that's all a Sinkie have, that is truly poor. One cannot afford to be unemployed in Sinkie. In USA or Canada, even if one is unemployed, it is the government who is worried, not the unemployed. That is 1st world, my friend.

 

[diversifyx2]

I have $1.37 in my bank..../phew....money is covered.........

I have $2 in my OCBC bank, by end of this month it would be $0 after penalty and also $2.50 in my POSB, by end of this month it would be $0.50. WTF is going on here

 

[masgnoeL]

On serious thought, I wish to see more people like to give clear information or educate those STUPID 66.66% Singafuckporean who voted PAP about their net worth in Singapore.

Thank you for your effort in providing a good break down information.

I made a typo mistake and corrected it in my post. Each Sinkie's net worth is generally only S$250k.

With ZERO social security and welfare, high cost of living, utilities, amenities, medicare, etc, etc, etc, truly and undeniably, Sinkies are poor.

Hope everyone wake up their idea and call a spade a spade.

 

[Porfirio Rubirosa]

Strange enough I seem to see HDB carparks quite full with newish cars. So what gives? Are Singaporeans generally living within their means? I mean you listen to the fresh grads nowadays expecting unrealistic starting salaries, come on wake up.

As for savings, there are quite afew HDBV aunties out there with 6 figure cash savings, just going by the con jobs on them.

It is not easy to save up and have more than 20k in today's Singapore, where almost everything is going up and wages stagnating.

I remember coming across an article where it says that more than 30% of the hdb 4 roomers and 5 roomers are behind in their utility bills. I am sure it would include the S and C charges too.

I see no reason why the MAS would want to make up the figures when it states that.

Most would probably have savings below 10k, is how I sees it.

 

[Hope]

People in first world do not need to have money,you know why?

well,as MM Lee has always said:beri stupid welfare system.

YOU HAVE A VERY NARROW VISION.Too much 154th lah.not surprising.

 

[jw5]

got about 20K lah, locked inside CPF considered got money?

It's considered a long term loan from you to the government.
Terms of repayment and interest can be changed at their discretion. :(

 

[jw5]

Strange enough I seem to see HDB carparks quite full with newish cars. So what gives? Are Singaporeans generally living within their means? I mean you listen to the fresh grads nowadays expecting unrealistic starting salaries, come on wake up.

As for savings, there are quite afew HDBV aunties out there with 6 figure cash savings, just going by the con jobs on them.

Most things are bought on credit.
Out of every 10 new cars in the parking lot, probably only 1 is bought by cash by someone who can presently afford the car.

 

[jw5]

If you think about it, if the household were to earn say 3k per month, with savings of less than 10k (based on my estimate), anything happened, such as retrenchment, medical emergency, most of it would be wipe out.

That explains why there is the owing of the utilities and s and c charges among the heartlander.

I think that it's time that the ministers give back some of their pay to help the poor in SG.
Would you agree to my masterplan?

 

[JWNY]

sucks to be poor :(

JWNY

 

[lifeafter41]

Strange enough I seem to see HDB carparks quite full with newish cars. So what gives? Are Singaporeans generally living within their means? I mean you listen to the fresh grads nowadays expecting unrealistic starting salaries, come on wake up.

As for savings, there are quite afew HDBV aunties out there with 6 figure cash savings, just going by the con jobs on them.

Aunties with 50k or 60k cash savings, are what you called "coffins" saving, and they are far and few in between. The majority of the uncles and aunties do not have that amount.