Have you been spending more or less during the COVID-19 pandemic?
Some Singaporeans mentioned they’ve been saving more, while some say they have been spending more.
We were curious to find out how the pandemic changed the landscape of consumer spending in Singapore.
In this article, we present the most updated findings, including interesting consumer spending statistics, habits, and patterns in Singapore.
Read on to find out more!
During the COVID-19 pandemic, Singapore drew on its past reserves several times. For an individual, that’s similar to selling off hard-earned savings or investments to get through a rough patch.
So how much does the country still have in the tank?
Rumour has it that Singapore’s reserves amount to more than S$1 trillion. Some estimates floating around the internet put it at more than double that.
Is any of it true? How much money does Singapore really have in 2026?
Let’s find out.
(Conversion rate used: US$1 to S$1.28, based on MAS’s published July 2026 figures.)
How does your household’s net worth stack up against others in Singapore?
Your net worth is the clearest measure of your financial health. It adds up everything you own and subtracts what you owe, so it captures how much you have earned, saved, invested, and borrowed over the years.
Below we break down the key statistics using the latest available data: the Singapore government’s first official breakdown of household wealth, plus the newest global per-adult figures. If you want to work out your own number first, try our net worth calculator.
We update this article as new data is released.
All figures are in Singapore dollars unless otherwise stated.
While filing your taxes, you may have come across the Life Insurance Relief.
It sounds straightforward. You have paid for your own life insurance, so surely you can claim the relief and reduce your taxes?
In reality, most working Singaporeans cannot. And the CPF changes of recent years have made it even harder to qualify. Here is how the relief works in 2026, who can actually claim it, and while we are on the topic, whether life insurance payouts are taxable at all.
Every March, the tax filing season opens. And every March, many Singaporeans discover that the best time to reduce their tax bill was actually the December before.
That is because most of the tax moves within your control, such as SRS contributions and CPF top-ups, must be made by 31 December of the year before you file.
So whether you are planning ahead or filing right now, this guide covers every relief, deduction, and rebate that still works in 2026, the ones that no longer exist, and who actually hits the maximum cap of $80,000 in reliefs.
All figures are as of Year of Assessment 2026 (YA2026) unless stated otherwise. This guide is general information, not personalised tax or financial advice, and thresholds can change from year to year, so check the current IRAS pages that apply to you before acting.
A 2020 survey by HSBC showed that unexpected expenses and reduction of income are 2 of the top 3 financial concerns of all respondents across all financial fitness levels.
Ironically, a separate survey showed that only 1 in 3 Singaporeans have enough put away to last them 6 months.
Most of us are worried about these unexpected expenses but only a third of us are prepared to face it; only a third have what most financial advisors would consider as a good sized emergency fund.
What will a degree cost by the time your newborn is ready for university?
A local degree that costs about $81,890 today, including living expenses, is on track to cost more than $130,000 in 20 years, when a baby born in 2026 would be at university. That’s because the cost of education in Singapore has outpaced general inflation for two decades.
The good news: with enough lead time, this is one of the most plannable goals in personal finance. You know roughly when the money is needed and roughly how much.
This guide walks you through the full numbers, from preschool to degree, and every major way to fund them.
Do you think we can afford to send our children to universities in the future?
The cost of education has risen significantly over the years, and even with more saving and investment platforms readily available to generate higher returns, some Singaporeans are questioning whether pursuing further studies is worth it.
We were curious to see what Singaporeans’ thoughts are on the cost of a university education and whether it’s worth its high price.
We surveyed 1,088 adults aged 18 and above and here’s what we found.
Many parents still hope to send their children to university, even as the world puts more weight on skills and talent.
A degree still counts for a lot, and many graduates value what it gave them, the way of thinking and the people they met, as much as the certificate itself. So if university is the plan for your child and you are wondering where the money will come from, this guide is for you.
In Singapore, there are six main ways to fund a university education: bursaries, scholarships, loans, savings, investments, and child education endowment plans. Most families end up combining several. We explain how each one works, with the pros and cons, below.
Funding is only one piece of the wider picture. For the full cost breakdown from preschool to degree, and how much to save each month, see our complete guide to child education planning in Singapore.
While most parents hope that their child can study in one of the six local universities in Singapore, this may not always be possible for a range of reasons.
For one, some students are unable to produce the minimum results to gain entry into the local university and course of their choice.
Next, your child may be interested in pursuing a course that is not offered here, such as Veterinary Science, which no local university currently offers as an undergraduate degree.
Lastly, the child may want to study at one of the more prestigious universities overseas, where many well-known professors and experts are based.
As a parent, you likely want to give your child the widest range of opportunities. In this article, we look at the cost of an overseas university education, and how to fund it using various financial tools, should the need arise.