Rising Cost of Living and Uncertain Future
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WeiHan:
I took a cab a few months back. The driver was complaining how recent graduates can't find a decent, good paying job with 2-3K starting salary. Is it true? Anedoctally, i have colleague who resigned last year and came back to a different department after just 1 month. I guess he had a hard time getting a new job.
WeiHan,
I find it difficult to reconcile these comments to those articles by HR professionals published in the Straits Times in recent years, including not long ago that our fresh U grads are drawing starting pay of >$3k and as high as $6k.
As for the current job market, I feel it favours the young and energetic, it is not a big deal that they lack experience. What they lack in experience, they make up by demanding a lower wage and their receptiveness to training. Malaysians and PRs also have an 'edge' over the more costly Singaporean staff. Whether it is difficult to get a new job depends on your expectations vs what the market has on offer around this period. Your colleague may have returned because he realised he could not get a better package outside, not because he could not get a job.
I know of someone who, a few years ago, felt stressed out at work, found a better paying job, had all the farewell parties with her colleagues, joined the new organisation and requested to returned to her previous company/job just after 2 weeks at the new job! Her reason was that the people at her new workplace were nasty.
Cost of living & uncertain future - yes, I feel the pressure. Felt worst off than a few years ago, standard of living sliding instead of improving. Frustrated with the current Singapore. Feel like a 'stranger' in my own country (everywhere you go, you hear people talking in non-Singaporean accent), at my workplace (where Singaporeans are the minority) and even at my neighbourhood (it's now full of expats whose wife congregate at our neighbourhood park everyday after sending their kids off on the school bus to their International schools). The squeeze on public transport like the bus & MRT, the announcements in Mandarin only (i still find this unacceptable even though I am Chinese) at the bus-interchange near my place, the many foreign talents (students) at my childrens' schools, the many expen$ive :moneyflies: optional activities that schools come out with .......our current environment favours those who have already made it, before the influx of FT, not those who have been sidelined or left behind. Those people who are in a position to ride the wave by getting more passive income from rental revenue and windfall from their properties will never understand the plight of the rest. -
osim:
osim,Is it really true that people are complaining about rising cost and fearful of losing their job? I see people spending money in shopping malls, eating and eating, buying and buying.
I had the same observation as you. Students used to discuss homework at MacDonalds. Now you see them at Starbucks, Coffee Club, etc instead. Every weekend, queues formed outside restaurants like Sakae, Pizza Hut, Swensens, New York & etc, as if its so cheap to eat at these places. Crumpler bags and Nike shoes are staples for school going youngsters.
Around me, people are busy looking for properties to buy for investment. -
In this world nobody is able to predict the future...
Yes, the Gap of the Rich and the Poor are getting wider
So all of us lives in fear, losing our jobs, home, status, wealth....
Sad to see more and more highly educated people are caught in this materialistic world.....
Every now and then must have the latest smartphone/fashion/entertainment devices......
The Greed of Businessmen trying to leap as much $$$$ from the Customers...
Commericals are made into attracting people to believe that they must have...
It is cool to have it.....
Open up your Cupboards and see how much unnecessary things we have bought through the moment of impluse..... :scared: -
Fairy:
Some got $8K! But how many get their first job within 6 months? I have an impression that it is 60+%. Much lower than in the past. Do you have a link?
WeiHan,
I find it difficult to reconcile these comments to those articles by HR professionals published in the Straits Times in recent years, including not long ago that our fresh U grads are drawing starting pay of >$3k and as high as $6k. -
I suppose it all voiced down to one’s feeling/ thinking towards one’s job security.
If he/ she feels that their job is fairly secure and they are working hard to earn a good income, I don’t think it’s unfair for them to spend on branded stuff/ holidays if it is within their means. We cannot bring the money along with us to the coffin so might as well enjoy life when you can and if you can afford it.
We do have friends around us looking at property investment. Also where yearly holiday is norm. I suppose if one can afford it, so be it. In such case, I don’t think they are spending excessively and believe they have already build their savings as well. Most are not "top earners" and family combine income around 20-30k per month range. -
Found this old thread.
Yesterday, I had a chance to do grocery shopping with my mum. She told me she wont spend that much as I did. I told her all the items I bought were essential and some were on offer. She often lamented how many items a $50 could buy during her time but not nowadays.
I truly agreed with her.
Prices of essential food items are rising steadily but surely. Sigh… if I have to eat to live, I will need to spend to buy. -
MMM:
For those families with joint income of 20 to 30K per month, 2 holidays a year is no sweat to them. Once in a while buy branded goods dun really need much thought.. The scary couples are those who earn a combined income of 8 to 10K, own or want to buy condo and still enjoy the same stuff as those couples who earn 20 to 30K a month. I know such friends personally..these are the time bombs!I suppose it all voiced down to one's feeling/ thinking towards one's job security.
If he/ she feels that their job is fairly secure and they are working hard to earn a good income, I don't think it's unfair for them to spend on branded stuff/ holidays if it is within their means. We cannot bring the money along with us to the coffin so might as well enjoy life when you can and if you can afford it.
We do have friends around us looking at property investment. Also where yearly holiday is norm. I suppose if one can afford it, so be it. In such case, I don't think they are spending excessively and believe they have already build their savings as well. Most are not \"top earners\" and family combine income around 20-30k per month range.
In any case, no matter how much u earn also need to spend wisely with retirement in mind. Kids try not to pamper too much also. If possible, live on one income only. -
starlight1968sg:
Maybe cos u bought fish maw and chicken essence that is why mum had something to say?Found this old thread.
Yesterday, I had a chance to do grocery shopping with my mum. She told me she wont spend that much as I did. I told her all the items I bought were essential and some were on offer. She often lamented how many items a $50 could buy during her time but not nowadays.
I truly agreed with her.
Prices of essential food items are rising steadily but surely. Sigh... if I have to eat to live, I will need to spend to buy. -
TheAnswer:
For those families with joint income of 20 to 30K per month, 2 holidays a year is no sweat to them. Once in a while buy branded goods dun really need much thought.. The scary couples are those who earn a combined income of 8 to 10K, own or want to buy condo and still enjoy the same stuff as those couples who earn 20 to 30K a month. I know such friends personally..these are the time bombs!
With the rapid rise in costs of living, I see that for double/single income per month -
8 - 10k - basic living
11 - 15k - slightly better
16 - 20k - much better
21k and above - luxurious living n can easily retire
This is just my personal opinion but such numbers are very subjective depending on one's lifestyle.
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zbear:
Depends on how many dependents they have also..TheAnswer:
For those families with joint income of 20 to 30K per month, 2 holidays a year is no sweat to them. Once in a while buy branded goods dun really need much thought.. The scary couples are those who earn a combined income of 8 to 10K, own or want to buy condo and still enjoy the same stuff as those couples who earn 20 to 30K a month. I know such friends personally..these are the time bombs!
With the rapid rise in costs of living, I see that for double/single income per month -
8 - 10k - basic living
11 - 15k - slightly better
16 - 20k - much better
21k and above - luxurious living n can easily retire
This is just my personal opinion but such numbers are very subjective depending on one's lifestyle.
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