SINGAPORE: A Singaporean man took to social media to vent about his tight finances, asking netizens how to live on a monthly salary of S$2,400.
In a post shared on the Facebook group Complaint Singapore, the man wrote, “I want to complain; I do not [have] enough money to spend.”
Breaking down his expenses, the man revealed that he spends S$120 on transportation, S$300 to help out his parents, and S$750 on insurance premiums.
With these fixed costs already eating into his salary, he lamented that he hadn’t even factored in the cost of food yet.
Even cai fan—a popular, budget-friendly meal option—has become unaffordable, as he noted that prices now exceed S$5 per plate, whether he eats at home or near his workplace in Orchard.
“How to live in Singapore?” he asked Singaporeans at the end of his post.
“Never ever invest more than 10% of your salary for insurance…”
His post sparked a lively discussion among netizens, with many offering budgeting tips and suggestions on how to cope with Singapore’s rising living costs.
One of the main points raised was his $750 monthly insurance premium, which many felt was too high given his salary.
Some suggested that instead of allocating such a large portion of his income to insurance, he could redirect that money toward investing in his education or skills development, providing more long-term financial benefits.
One netizen advised, “Never ever invest more than 10% of your salary for insurance; you already got CPF, and they’re enhanced if needed.”
Additionally, a few netizens mentioned that since his salary is below S$3,000, he may qualify for the Workfare Income Supplement (WIS), a government program designed to assist low-income workers.
One even recommended, “You can get the Workfare bus card, which offers a 25% discount.”
As for his food expenses, some recommended cooking at home rather than buying meals outside. One netizen wrote, “No choice. You have to wake up earlier and prepare your lunch or sandwich for lunchtime.
Or just do 1 or 2 meals a day. Skip lunch and do exercise. Everyone has their difficulties staying here. Bo pian one. There will be people here that will tell you to leave SG if anyone cannot tahan.”
Others praised the man for still giving his parents an allowance despite his current financial situation. One netizen said, “Parent $300. That is more than 10%! You’ve got your priorities right. I’m proud of you.”
Workfare Income Supplement (WIS) scheme
According to the Ministry of Manpower’s (MoM) website, the Workfare Income Supplement (WIS) scheme, introduced in 2007, was designed to boost the incomes and CPF savings of lower-wage Singaporean workers while encouraging them to maintain steady employment.
WIS provides extra financial support, with older workers and persons with disabilities receiving the highest payouts. For employees, payments are made monthly in both cash and CPF contributions.
Self-employed individuals, on the other hand, get their payouts once a year. The amount you receive depends on your income and age.
Eligibility for WIS scheme
To qualify for WIS, you must be a Singapore Citizen, at least 30 years old by the end of the work year (unless you have a disability, in which case there is no age limit), and earn a gross monthly income between $500 and $2,500.
Additionally, you must live in a property with an annual value of $21,000 or less (starting from 2024) and own no more than one property.
If you are married, your combined property ownership must not exceed one property, and your spouse’s assessable income must be $70,000 or below.
Featured image by Depositphotos (for illustration purposes only)
