What Is Net Worth (and Why You Should Track It Regularly)

what is net worth singapore

The world was recently reeling from the news that Bill and Melinda Gates are divorcing after 27 years of marriage.

Apart from being shocked that such a decision has been made after having three kids and having journeyed through 27 long years of marriage, people are also interested in how their net worth will change after the divorce as they split assets and family wealth. According to some studies, Bill Gates’ net worth is currently standing at 129.7 billion USD, while Melinda’s net worth is 2.9 billion USD. 

You might be thinking that such calculations make sense for the wealthy, however, is it relevant at all for the average Singaporean?

I would like to propose that tracking your net worth is an important part of financial planning and will help you to achieve your financial goals in the long run.

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How to Allocate Your Monthly Salary With the 50/30/20 Budgeting Rule

what is the 50/30/20 budgeting rule singapore

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!

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8 Reasons Why the Cost of Living Is So High in Singapore

why is the cost of living so high in singapore

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. 

So, read on! 

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The Average Annual Inflation Rate in Singapore (2024)

average inflation rate in singapore

When planning for your finances, knowing the average inflation rate is important for multiple reasons.

Not only does it enable you to evaluate whether your investments are beating inflation, it also allows you to project the future cost of your retirement needs or your children’s tertiary education. 

How much has the general cost of living increased over the years? And what’s the average inflation rate in Singapore? 

Today, we’ll take a deeper look.

Read on! 

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4 Reasons Why the Cost of Healthcare Is Rising in Singapore

rising cost of healthcare in singapore

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. Healthcare, particularly the cost of it, has been the recent talk of the town. 

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! 

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The Average Healthcare (Medical) Inflation Rate in Singapore [2024]

average medical inflation rate singapore

Recently in Singapore, there has been more chatter about rising medical costs. 

In particular, conversations surrounding the national health insurance, MediShield Life, and its supplement, the Integrated Shield Plan, along with the fees charged by public/private doctors, are heating up. 

Many changes have been made to curb the rising costs in healthcare, but at the moment, they seem to be inadequate. 

We should expect more changes to come, but today, we’re simply looking at the cost of healthcare and the average (and past) medical inflation rates in Singapore. 

So, read on! 

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The Average Education Inflation Rate in Singapore (2024)

average annual education inflation rate singapore

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.

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

Read on to find out!

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11 Insightful Death Statistics in Singapore (Updated for 2021)

death statistics in singapore

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!

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The Top 10 Causes of Death in Singapore (Updated for 2021)

top causes of death in singapore

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!

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