Do you know how to efficiently allocate your monthly salary? 

This is perhaps one of the most underrated best practices to improve your personal finances. However, most Singaporeans go for years or even decades without knowing how to, causing potential financial problems along the way. 

On the surface, having money coming in every month and having expenses that do not go over it seems like a good enough “financial plan”. Unfortunately, gone are the days when simply “living below your means” is enough. 

Careful use of every dollar that comes in ensures that money will always be well-spent. 

And that’s why sticking to a budgeting rule, such as the 50/30/20 rule, is so critical.

Read on to find out why!

Read more

Southeast Asia (SEA) is known to be a region for cheap travel. 

In general, living expenses such as rent and food are very affordable in this region when compared to the rest of the world. This attracts and enables backpackers from all around the world to explore SEA for months on end. 

However, Singapore is a country that stands out for its higher costs of living. 

Is it entirely true that Singapore is an expensive country? 

Today, we’ll explore why the cost of living in Singapore is perceived to be so high. 

(While the high cost of living is beyond our control, we can and should find ways to make better use of our money.)

So, read on! 

Read more

When planning your finances, understanding the average inflation rate is crucial for several reasons.

It helps you determine if your investment strategies are outpacing inflation and estimate the future costs of key goals, like retirement or your children’s university education.

But how much has the cost of living really increased over the years? And what’s the average inflation rate in Singapore?

Let’s take a closer look.

Read on to find out!

Read more

Singapore is known to be an expensive city, especially when compared to its Southeast Asian counterparts. 

But don’t you find it amazing how such a tiny country without many, if any, natural resources is able to achieve enduring success throughout the years?

Part of its success as a nation is due to strong economic growth, and as a result, the cost of living will inevitably rise. It’s perfectly normal. 

Among the many components that make up the general cost of living is healthcare. Recently, its rising costs have become a hot topic, inevitably driving up related expenses like premiums across various insurance plans.

Are things getting out of hand? 

Today, we’re going to explore the reasons why the healthcare cost in Singapore is rising at such a fast pace. 

So, read on! 

Read more

Recently in Singapore, there has been growing concern about rising medical costs.

In particular, discussions surrounding various types of insurance plans, including MediShield Life and its supplement, the Integrated Shield Plan, as well as fees charged by public and private doctors, are intensifying.

While many changes have been made to curb rising healthcare costs, they currently seem to be inadequate.

More changes are expected in the future, but for now, we’ll focus on the cost of healthcare and the average (and past) medical inflation rates in Singapore.

So, read on! 

Read more

Singapore has no natural resources.

But even with its limitations, it has grown to be more than just a little red dot.

Many of Singapore’s successes, such as its economic growth, come from the people living in it, and these successes will likely continue for the foreseeable future.

Education is a core component of human capital, which has played a pivotal role in the growth of Singapore.

As such, the importance of education has always been highlighted, not just from a national level, but from a parental level too. And that’s how we get the saying, “Study hard and you’ll get a good job.” 

However, with a stronger demand in education, costs will inevitably rise, and that also contributes to the overall increase in the cost of living in Singapore. This creates a greater need to implement strategies for better financial management, such as effective spending and utilising savings or investment alternatives.

How much has the cost of education already risen? And what is the average education inflation rate in Singapore? 

Read on to find out!

Read more

Do you know how much you spend each month?

If you’re serious about growing your net worth and achieving your financial goals, the first step is understanding your numbers — your income, expenses, and savings. From there, you can tap into the wide range of personal finance tools available to help you manage and optimise your money.

Curious about how well Singaporeans track their spending, we surveyed 984 adults aged 18 and above to learn more about their habits.

Here’s what we discovered.

Read more

Death can be a sensitive topic in Singapore.

But does it need to be that way?

The hard truth is that every single one of us will die at some point of time. The question is when.

I could very well drop dead while typing this or live beyond the average life expectancy.

Who knows?

Questions we should be asking ourselves:

• Would we have regrets when the inevitable comes?
• Have we done the very best for ourselves and our families?

The odd feeling is that when we realise and accept that death is 100% guaranteed and can happen at anytime, we start to appreciate the time we have left and lead a more purpose-driven life.

Because every single moment counts.

But for now, let’s look at some statistics and facts on deaths in Singapore.

Read on!

Read more

Death is an inevitable part of life.

It is a natural process when a person’s life comes to an end. However, the loss of a loved one is painful, regardless of age or cause.

In Singapore, the death rate (age-standardised) has been declining and reached its lowest point in 2020 at 2.8 deaths per 1,000 residents.

What caused these deaths?

This article provides information about the top 10 causes of death in Singapore, as reflected in the latest statistics.

So, read on!

Read more

We all know that death is unpredictable (unless you seek it).

You could live to be a centenarian (someone who lives till 100 years old) or have a shorter life than normally expected.

Who knows..

But today, we’re going to look at the data which shows us the chances of death happening by the next year, based on age and sex.

So, read on!

Read more