Tuesday, May 13, 2025
28.8 C
Singapore
type here...
Subscribe
Home Blog Page 576

Singapore stocks fell on Monday—STI dropped 2.5%

Mary Alavanza
-
0
Singapore stocks fell on Monday—STI dropped 2.5%

SINGAPORE: Singapore stocks fell on Monday, Aug 5, influenced by a slump on Wall Street following a poor jobs report from the United States. The Straits Times Index (STI) dropped 2.5%, or 85.57 points, to 3,295.88 by 9:01 am, as reported by The Business Times.

In the broader market, there were 119 losers and 18 gainers after 56 million securities worth S$89.1 million were traded.

Genting Singapore was among the most actively traded stocks, which saw 4.7 million securities move and fell 1.8%, or S$0.015, to S$0.825. Seatrium also saw heavy trading, with its shares dropping 2.7%, or S$0.04, to S$1.45.

Another notable mover was Marco Polo Marine, which traded 5.4% lower at S$0.053.

Banking stocks were not immune to the downturn. DBS saw a significant drop of 4.1%, or S$1.45, bringing its share price to S$33.86. UOB dropped 3.7%, or S$1.18, to S$30.65, while OCBC decreased by 2.8%, or S$0.41, to S$14.39.

Wall Street stocks declined after the US market was shaken by a weak jobs report, which heightened concerns about a potential recession. 

The Dow Jones Industrial Average closed at 39,737.26, down 1.5% for the day and 2.1% for the week. The S&P 500 declined by 1.8%, or 100.12 points, to 5,346.56. The Nasdaq Composite Index fell by 2.4%, or 417.94 points, to 16,776.16.

European markets mirrored the negative sentiment. The pan-European Stoxx 600 index fell by 2.7%, closing at 497.85 points. Most of the sub-indexes within Europe also traded lower, with the technology sector suffering a 6.1% drop. /TISG

Read also: Singapore stocks open lower on Friday—STI fell by 1%

Featured image by Depositphotos

“What to do in this situation?” — SG man with financial burdens says his wife refuses to work, do household chores, and only wants to cook once a month

Yoko Nicole
-
0
“What to do in this situation?” — SG man with financial burdens says his wife refuses to work, do household chores, and only wants to cook once a month

SINGAPORE: A Singaporean man confessed online that his wife is unwilling to share the responsibilities and effort required to make their marriage work.

In a post on r/SingaporeRaw, the man explained that he and his wife agreed before their engagement that they would focus on their careers to build a comfortable life together. Unfortunately, this plan fell apart when his wife quit her job in 2020.

“She did not like working for her boss and did not like the long hours which were affecting her mental health,” he wrote.

At that time, he wholeheartedly supported her decision, agreeing to cover the entire mortgage payment using his CPF savings while she took a break from work to focus on her recovery.

He believed this arrangement would give her the time and space to heal and eventually return to her career. However, things didn’t turn out as he hoped. To this day, his wife remains unemployed.

“It feels as though my wife wanted to live like a traditional homemaker even though I have repeatedly told her to try upskilling herself or even go to networking events to try to get an entry-level role since at least they would have something basic like MEDICAL benefits which she doesn’t even have now,” he said.

“She still portrays the image to her entire family/friends and mine that she is juggling a full-time job and a part-time job in event planning on the side,” he added.

When they finally talked about their future, he was floored when she insisted that he couldn’t quit his job—even if he were miserable—because he has to keep supporting her while she “manages” the household.

Given their current living situation, this demand struck him as illogical: the household consisted only of the two of them, and they had already employed a part-time cleaner who visited every two weeks.

When he asked her about it, she said her version of managing the household meant cooking once a month and topping up soap and toilet paper when they ran out of supplies.

“I highlighted to her that if we had a family and she was busy taking care of the children while I had to work, this would be entirely different,” he continued. 

“She has previously told me how much she doesn’t want children before but with me she has agreed to compromise and have one child first and see how it goes.

I told her that financially, it is almost impossible for us to even think about children when I am becoming a sole-breadwinner if nothing changes on her end,” he added.

Despite his love for his wife, the man admitted that he is now hesitant to have children with her, fearing that he might end up shouldering all the financial burden alone.

“I am not sure what to do in this case,” he expressed. “Has anyone gone through anything similar or found a way to figure out what to do in this situation?” he asked netizens for a possible solution.

“Start preparing for divorce because things cannot continue this way.”

In the discussion thread, many urged him to reconsider their marriage, seeing as his wife wasn’t holding up her end of the deal and wasn’t making any real effort to fix things.

One individual said, “This is a very good example of what happens when Sinkie males just keep going along with things because they are scared of being single.

It becomes unsustainable because you have enabled this behavior more and more until it’s become like this. Objectively you have not even mentioned any of her contributions. I know you know what the answer is here, as painful as it is.”

Another added, “Wow she’s not working since 2020? Is she even trying to get employed?! Being unemployed for so long and still being able to survive on just your salary is quite a feat but it won’t last long.

Wah her definition of ‘in charge of the household’ very far cry leh, cook only once a month when she has no job? I work FT and I cook 3-4 times a week sia on average.”

A third individual commented, “Start preparing for divorce because things cannot continue this way and she seems to not care at all.” On the other hand, some people suggested that the man consider marriage counselling or encourage his wife to seek professional help.

They speculated that his wife might be grappling with deep-seated issues like feelings of uselessness or a diminished sense of dignity, which could affect her motivation.

One individual said, “I think that maybe your wife may be discouraged/depressed by the fact that she hasn’t been able to find full-time employment (that she likes).

It would take a toll on her self-worth, especially since we Singaporeans tend to judge people’s value by the income and prestige of their careers.

On the bright side, at least she’s still trying to earn her own income. I know of folks who give up in such a situation and just become NEETs (not in employment, education or training).”

Read also: Housewife grapples with whether to divorce cheating husband as they have a new baby together

Featured image by Depositphotos

“Don’t let lifestyle creep get to you when you start working” — 27yo man advises SG fresh grads to frugal living and ignore expensive trends

Yoko Nicole
-
0
“Don’t let lifestyle creep get to you when you start working” — 27yo man advises SG fresh grads to frugal living and ignore expensive trends

SINGAPORE: Attending a friend’s graduation ceremony gave a 27-year-old man a moment to reflect on his own journey since graduating three years ago.  Inspired by this milestone, he decided to share a piece of advice with today’s fresh graduates:

“Don’t let lifestyle creep get to you when you start working.”

In his post on r/singaporefi, he urged fresh graduates to embrace a frugal lifestyle and focus on saving for the first few years of their careers. By resisting the temptation to immediately upgrade their lifestyle, they can avoid the pitfalls of unnecessary spending and the pressure to keep up with expensive trends.

“You won’t feel like you’re missing anything if you’ve never allowed the initial lifestyle creep to happen,” he said.

He then shared his personal journey to motivate others to follow a similar path. When he began his first real job two months after graduating during the COVID pandemic, he was burdened with nearly S$40,000 in student debt.

Determined not to let his desires and lifestyle inflate beyond his means, he restricted his expenditures to essentials such as food, transportation, basic clothing, and his phone bill, adhering to a budget of $500 or less.

This approach enabled him to pay off his student loans within the first year and helped him avoid impulsive purchases he would later regret. After clearing his debt, he saved by depositing everything into a high-yield savings account, specifically the OCBC 360.

“I’ve since hit the 100k ceiling for OCBC 360 and managed to sock away another 100k in the Fullerton SGD cash fund – the interest alone is now enough to cover all my monthly expenses and more.

The earlier you save, the earlier your savings compound… I can now spend on luxury extras I really want, without even digging into my salary – like bringing my parents overseas for holidays and the occasional splurge on a meal in a restaurant,” he shared.

“Life is short; don’t waste your youth trying to save every last dollar.”

Although numerous individuals praised the man for promptly clearing his student debts and breaking free from financial constraints through frugal living, some pointed out that not every fresh grad can emulate his approach as they have responsibilities to fulfil to their families.

A handful even suggested that solely individuals with certain privileges, such as those residing with their parents without the burden of rent or bills, can realistically sustain themselves on a $500 monthly budget.

One netizen said, “A budget of $500 per month isn’t possible just by being frugal. You also have to be lucky and privileged enough not to pay rent/house bills, or give your parents any sort of monthly allowance.”

A few people also disagreed with the man’s approach, explaining that the primary goal of working hard and advancing up the corporate ladder is to progressively improve one’s lifestyle.

They argued that as individuals progress in their careers, part of the reward should be the opportunity to enjoy a better quality of life, including the ability to indulge in hobbies or luxuries previously unattainable.

One netizen commented, “No point dying with millions in the bank and going through life on a $500 budget. Treat yourself better if you can afford it. What’s the point of living with nothing to enjoy?”

Another added, “Life is short, don’t waste your youth trying to save every last dollar. If spending that bit more money can bring you that much more happiness, just do it. After all, the point of earning money is to give yourself and your family a good life.”

Read also: Disheartened SG man says his girlfriend of 4 years would consider dating a richer man if such a man came along

Featured image by Depositphotos

Maid says she’s forced to renew her contract of $693 salary with “half day off” a month because her employer refused to provide release papers

Yoko Nicole
-
0
Maid says she’s forced to renew her contract of $693 salary with “half day off” a month because her employer refused to provide release papers

SINGAPORE: A domestic helper shared on social media that her employer refused to provide the release papers she needed to end her contract.

In her post on the Facebook group ‘MDW in Singapore,’ she explained that her contract was initially set to expire on Sept 28. However, her employer’s refusal to issue the necessary paperwork left her no choice but to agree to a contract renewal.

She also revealed the challenging conditions of her job, noting that her salary is only $693, and she only gets a “half day off” once a month. She also expressed concern that her working conditions might not improve, with no increase in her salary or changes to her days off.

“A few days ago while she (employer) was at work she just sent me a message to take a photo of my WP coz she will apply for insurance..do I have the rights for salary increment? and a new written contract? What should I do??” the helper asked for advice.

“You do have the right to negotiate for better terms and conditions.”

The comments under the helper’s post were a mix of outrage and support, with many rallying behind the helper and urging her to stand up for herself.

Several netizens advised her not to renew the contract if the employer is being uncooperative. They also encouraged her to file a complaint with the Ministry of Manpower (MOM) and find a better employer who will treat her fairly.

One netizen said, “For me..don’t renew..it’s their problem if they won’t give you release paper.,.you can complain, there’s a lot of good employers.”

Another commented, “Don’t renew if you have doubts and questions at the back of your head,because at the end of the day it is you and your employer who need to settle it.”

Others expressed sympathy for her situation, saying that it’s incredibly unfair to be put in a position where she’s forced to renew without any discussion of new terms. They emphasized that she deserves to have her concerns addressed and to be treated with respect.

A third commented, “You do have the right to negotiate for better terms and conditions. Your old contract expires at the end of the 2 years. The next 2 years is a new contract. You can ask for changes. Then it’s up to her whether to accede to your request, or insist on her terms, or not to renew.”

Another echoed this sentiment and said, “You have the right to ask for weekly off cause it’s your entitlement..about the salary you can talk about it..but still depends on your employer if she can afford it.”

Read also: Domestic helper fired for harming employer’s cat

Featured image by Depositphotos

“Penalty is only S$2.1K?” — S’poreans ask why the fine is so “laughable” for caterer after 37 elderlies suffered food poisoning at ElderCare centres

Mary Alavanza
-
0
“Penalty is only S$2.1K?” — S’poreans ask why the fine is so “laughable” for caterer after 37 elderlies suffered food poisoning at ElderCare centres

SINGAPORE: A recent decision to fine a catering company S$2,100 on July 31 has sparked criticism among netizens, who questioned why the fine was so affordable after a food safety lapse led to 37 people falling ill at St Luke’s ElderCare centres last year.

According to Channel News Asia, the Ministry of Health (MOH) and the Singapore Food Agency (SFA) received reports that 37 individuals across four St Luke’s ElderCare centres experienced gastroenteritis after consuming meals catered by +Robert Catering Services on May 18, 2023.

Investigations revealed that the catered meals contained harmful levels of Bacillus cereus, a food-borne bacteria linked to food poisoning.

Bacillus cereus is commonly found in soil, plants, and the intestines of insects and animals. It can cause food poisoning, mainly when cooked and left at room temperature, as reheating does not eliminate the bacteria or toxins.

These bacteria are sometimes associated with “fried rice syndrome,” for outbreaks initially linked to fried rice. The contaminated food samples included stir-fried cabbage, stir-fried cabbage with mushrooms, carrots, baby corn, and braised tofu puffs.

The SFA emphasised that food safety is a shared responsibility. While the agency enforces regulations, food operators and consumers must adhere to proper hygiene and safety practices. The public is advised to avoid establishments that do not meet food safety standards.

However, netizens were not happy that the fine was only S$2,100. Many argued the “fine was so affordable” given the severity of the incident.

One commenter noted, “This case occurred in May 2023. Over a year and the resolution was this fine?

St. Luke’s isn’t their only customer, they’ll recoup the fine in a couple of caterings. Or from those other companies who continue to order from this caterer on a recurring basis. The fines also don’t go to the victims. Hope they have insurance to claim from.”

Another comment described the penalty as “laughable,” given that 37 people were affected. Another user pointed out that with a fine of S$2,100, each victim’s compensation amounts to just $56, adding, “not like the money is going to the victims though.”

There were also concerns about whether the caterer covered the medical expenses of those affected.

One commenter lamented, “We are talking about old and elderly folks here, given that the people who ate the food are mostly presumably senior citizens and residents of the eldercare home. 37 of such elderly folks got food poisoning, but the penalty is only 2.1k?

In other words, each person is only worth slightly over 50 dollars? Lives are cheap man.” /TISG

Read also: SG café draws brickbats for declining food quality, with one diner complaining that the chicken meat served was a few days old

Featured image by Depositphotos

Man says the reason SG men are still single in their 40s is because SG women want “rich, powerful, smart, eloquent, and handsome men”

Mary Alavanza
-
0
Man says the reason SG men are still single in their 40s is because SG women want “rich, powerful, smart, eloquent, and handsome men”

SINGAPORE: Why are some Singaporean men still single in their 40s? A Singaporean man on social media shared that many men in their 40s remain single because Singaporean women want “rich, powerful, smart, eloquent, and handsome men.”

This conversation was prompted by another man who took to social media to ask why Singaporean men in their 40s are still single. He asked, “Is this due to societal pressures, personal choices, or a shift in beliefs about marriage?”

Singaporeans online shared different reasons. Some mentioned past heartbreaks they have not yet overcome. Others shared that being single meant only worrying about yourself, unlike getting married, which “unlocks a set of different problems,” like dealing with in-laws, balancing responsibilities with a partner, and raising kids. 

One commenter suggested that the issue primarily lies with the expectations placed on both genders. According to him, Singaporean women often look for rich, powerful, smart, eloquent, and handsome men.

In contrast, Singaporean men look for “women who are not whiny,” are independent, good-looking, articulate, and not focused on branded goods.

He said, “I know many friends who chose to remain single and if this can help increase the overall net happiness index for Singapore, I’m all for it.”

However, he also pointed out, “Singapore is facing a crisis – loneliness and lack of fulfilment or purpose. You don’t see many people who have a purpose – everyone is just trying to play the survival game and make ends meet.”

He added that the culture of Singapore does not ironically support individuals who want to start a family: “It’s all about money and finances.”

Another commenter also echoed this sentiment: “Not chasing money or excellence seems to be a sin and being content living a simple life is unattractive.”

On the other hand, some people emphasise that marriage should not be seen as a societal necessity.“Marriage should not be viewed as a necessity in today’s world. Live well by yourself and consider a relationship only if the right person comes along.

It is perfectly normal to not find the right person,” one commenter said.

A man in his early thirties shared his perspective on unhappy marriages, noting, “The number of people who get into marriages without understanding love and commitment, often blinded by the prospect of buying a Build-To-Order (BTO) flat, is astounding.

I value my freedom greatly and have yet to find someone who complements me enough to give that up. Until then, being single is preferable to settling for someone less compatible.” /TISG

Read also: Young Singaporeans not wanting to have kids say they “don’t need a reason” not to, while others say it’s “expensive in this economy”

Featured image by Depositphotos

SG worker says they work hard until fall sick; still work from home, OT for free, yet their boss accuses them of taking too many MCs

Yoko Nicole
-
0
SG worker says they work hard until fall sick; still work from home, OT for free, yet their boss accuses them of taking too many MCs

SINGAPORE: A Singaporean worker couldn’t help but feel exasperated when his boss accused him and his colleagues of taking too many medical leaves, completely overlooking the fact that their relentless hard work had driven them to exhaustion and illness in the first place.

“During our peak periods, we work until we fall sick because we are so exhausted. But even when we’re on MC (medical leave), most of us are still working at home, simply because the people covering for us are too busy with their own projects,” he explained.

“We all work hard for the company, we even OT (for free) on weekends.”

However, instead of appreciating their dedication, his boss decided to fuss over their leave days. The team was stunned, especially since they’d only used 6-7 out of their 14 allotted medical leave days.

“On a normal day, all of us get along well with the boss… we thought he understood our workload and struggles and efforts for the company, but now we feel that our effort is unappreciated. Are we being unreasonable to feel this way?”

“What advice would you give for this situation? Is it reasonable for our boss to say we have an attendance problem when we are getting sick due to a lack of manpower?”

“Work less. Enough to do your job 100% and no more.”

Many netizens empathized with the worker’s frustration and expressed that the boss’s accusations were unfair and shortsighted. They pointed out that the workers had every right to take medical leave, especially given the long hours and excessive workload they had been handling.

One netizen remarked, “If he has the cheek to make a fuss about your MCs then you should mention all the hours you’ve worked for FREE for the company….I am sure it far exceeds the days you’ve taken MC.”

Another commented, “I dislike this type of bosses. I’m willing to work hard normally and I make sure all my tasks get done well, but once he starts making noise about minor matters instead of judging my work by the results I produce, I’m halfway out the door.”

Several netizens also urged the worker to stop ‘working so hard’ for a company that doesn’t care about his well-being.

One netizen shared, “Work less. Enough to do your job 100% and no more. It isn’t your company, they can fire and replace you in a month. All that extra work coming in does not mean they should feel gratitude towards you, it’s just free work for them.

They didn’t ask you to do it, so why should they feel indebted to you? Anyway that’s how the companies think.”

Another told him, “Not here to stop you from changing your career, just remember this saying: At the end of your career the only people who will remember your OT is your wife and kids.

Sometimes you need to OT a bit to push out the thing, but sometimes you need to know you work to live, not live to work.”

Read also: No S$4K starting salary? — SG fresh grad asks after seeing S$3.2K job offers, contrary to salary survey stating “25th percentile was already S$4K”

Featured image by Depositphotos

Malaysian man earning just S$2K/month in Singapore owns 3 houses from 14 years of hard work and sacrifice

Mary Alavanza
-
0
Malaysian man earning just S$2K/month in Singapore owns 3 houses from 14 years of hard work and sacrifice

SINGAPORE: Besides the high exchange rate of the Singapore dollar, many Malaysians work in Singapore to build a better life through hard work and sacrifice.

One Mr Mohd Aminurashid Ali Akbar, a 36-year-old worker in the shipping sector, has commuted across the Causeway daily for 14 years! Now, he owns three properties in Malaysia, thanks to his perseverance and hard work.

In Berita Harian’s Chasing Windfalls in Singapore video on YouTube, Mr Mohd Aminurashid shared, “Fourteen years ago, I was just a palm oil factory worker in Malaysia, earning a daily wage of RM13 (about S$3.84). Now, I’ve been working in Singapore for 14 years.

I usually leave home around 5:00 am. If I’m late, I could get stuck on the Causeway due to the heavy traffic of motorcycles trying to enter Singapore. It’s normal because there are a lot of Malaysians who work in Singapore, too.”

Initially, he didn’t plan to work in Singapore, saying it was “not an easy decision.” The decision came with numerous challenges, including being away from family and facing job uncertainties, especially during the pandemic.

“Working here [Singapore] indeed requires a lot of sacrifice in terms of time and energy because I work in a shipyard.”

Despite the hardships, he persevered for the sake of his family. “When I first started working, I started from the bottom, and the work was very stressful at the shipyard. And I once felt like quitting.

But thinking about my responsibility to my family, my wife who always gives me encouragement, and our special needs child, I continued to work in Singapore to earn more income to bring home to my children and family.“

He shared how he previously worked at a factory in Malaysia, earning only about RM1,300 (about S$383.60) per month.

“My salary in Singapore as a supervisor now is over S$2,000. When converted to Malaysian Ringgit, it’s over RM6,000, and my salary is more than what I earned in Malaysia,” he said.

With his earnings, he has bought three houses, renting out two and living in one with his family. Sharing his advice to young people who are just starting work in Singapore, he said:

“When you receive your salary, save that salary properly. Use it wisely. Because, as Malaysians with work permits, we don’t have CPF. So the salary we earn must be saved and planned properly.”

Singaporeans online praised Mr Mohd Aminurashid’s hard work. One commenter noted, “Hard work pays…would you do it?” Another wrote, “Hard work pays off for those who work for it.”

One commenter added, “Waking up at 4 in the morning and returning home at 9 pm is pretty hard for people who are always fighting for work-life balance.”

However, not all comments were supportive. One user remarked, “Singapore is a country that makes citizens from other countries rich… and lets its own citizens become slaves. Work until they’re old, work until they die.”

Yet another defended the hard work of the Malaysian man, saying, “Good for him, lah. Why criticise the hardworking and financially prudent?

A different person might have spent his money on partying, buying wasteful things and still end up broke despite having advantages in terms of exchange rate.”

Berita Harian reported that the number of Malaysians seeking jobs in Singapore surged by around 60% post-COVID-19 pandemic, per several recruitment agencies.

Besides the favourable exchange rate, many Malaysians are drawn to Singapore because of its rapidly recovering economy and higher living costs.

Commonly sought-after jobs include those in administrative, production, and food and beverage sectors, which generally do not require high qualifications.

According to the Department of Statistics Malaysia (DOSM), around 66% of Malaysian workers in Singapore earn a gross salary ranging from S$1,500 (RM5,190) to S$3,599 (RM12,452) per month. Meanwhile, 18.5% earn between S$3,600 and nearly S$10,000 monthly.

However, not all stories have happy endings. Mr Mohd Fikri Ahmad Tajudin, a 31-year-old project manager, was killed in an accident while commuting home from work in Singapore in March 2024.

Yet his wife, Nabihah Ibrahim, who is pregnant with their second child, expressed no regret over their decision to work in Singapore despite the risks involved. /TISG

Read also: “I earn $70/day if TP fine me. I can’t afford the S$150 fine” – Netizens sympathise with Singapore taxi driver’s handwritten sign for passengers to fasten seatbelts

Featured image by Depositphotos

Another Singaporean uncle shakes his car at JB petrol station to pump in more petrol

Mary Alavanza
-
0
Another Singaporean uncle shakes his car at JB petrol station to pump in more petrol

MALAYSIA: Yet another Singaporean uncle hoping to pump in more petrol shakes his car at a Johor Bahru (JB) petrol station. This incident, captured in a video posted on the Facebook group Singapore Incidents, has stirred up quite a conversation online.

In the video, the elderly man is seen vigorously shaking his car as its tank is being filled. The caption humorously states, “Singaporean drivers’ daily exercise at Johor.”

The person recording the video can be heard laughing while saying, “Uncle, is it necessary? Ouch, it really is. Petrol is expensive in Singapore.” He continued explaining how the man shook his car until the gas station attendant finished filling the tank.

“In the end, uncle still hit RM 56.90 (S$16.79),” he quipped.

The video quickly caught the attention of netizens, prompting many to question the effectiveness of the elderly man’s efforts. One commenter asked, “What kind of theory by shaking will increase the volume?”

Another puzzled viewer added, “How much more can his tank take?” Others were equally sceptical, with one asking, “How could the shaking increase the volume of the tank, or rather shake to ‘compress’ the petrol?”

However, some “uncles” in the comments defended the elderly man in the video. One said, “It’s not so much volume but you get air bubbles from the flow rate. It just helps settle the fuel. We did it in the 70s.”

Another added, “He’s not exercising, he’s trying to get the fuel moved and settled. We did this back in the 70s.”

While these explanations might seem plausible, the reality is different. Many believe that shaking the car frees up air pockets in the fuel tank, allowing it to hold more petrol. However, this practice does not increase the tank’s capacity.

In fact, trying to overfill a car’s petrol tank can be dangerous. Overfilling can damage the car’s fuel injection system and, in extreme cases, potentially cause a fire or explosion.

Last April, another Singaporean man, hoping to store more petrol in his car tank, used a brick to temporarily raise his car while it’s being filled with fuel at a JB petrol station.

According to The New Paper: “The space in the tank will not increase, nor will a pocket of air be magically exposed by raising the corner where the fuel filler is located.” This means that no amount of shaking or tilting will create more space for additional fuel. /TISG

Letter to the Editor | Can my spouse stay home without a job if I earn S$15-20K/month in Singapore?

Letters to the Editor
-
0
Letter to the Editor | Can my spouse stay home without a job if I earn S$15-20K/month in Singapore?

Dear Editor,

I refer to The Independent Singapore’s personal finance article, “Mixed reactions on whether spouse can stay at home if one partner earns 15-20K a month” (Aug 2).

There’s no straightforward standard answer to whether a spouse can stay at home if one partner earns 15-20K a month. In other words, there is no right or wrong answer to it.

However, in today’s highly competitive society, the cost of living continues to rise, and standards continue to upgrade; a couple needs better and stronger financial capabilities or foundation to anticipate and weather any unpredictable life and financial difficulties to consolidate their better living conditions.

For example, once an individual falls sick and must consult a medical doctor, he/she needs to spend a minimum sum of money, which might be between $36 and $70, let alone a serious illness that might require specialist consultation and treatment.

If one of the couples in a family is unemployed for whatever reason, their financial income is affected immediately, and their family’s expenses will also rise relatively. This situation might become worse if their growing children are in the midst of university studies.

Hence, we can realise how important family saving is. According to financial experts’ advice, a couple needs to put aside a portion, say 30% of their total monthly income for their rainy days use.

This significant practice has to start as early as when a couple sets up their family so they will not be caught up/end up in any financial trouble or dilemma.

Teo Kueh Liang

The views expressed here are those of the author/contributor and do not necessarily represent the views of The Independent Singapore

Got a juicy story to share? Came across a gross injustice that needs to be heard? Want to have your opinion on current events made known? Email us your story with details and proof! Make your voice known! news@theindependent.sg

1...575576577...5,259Page 576 of 5,259

The Independent SG

Singapore News

Business

BDx secures financing for its hyperscale data centre expansion in Hong Kong

0
SINGAPORE: BDx Data Centers has secured financing for its...

Singaporean asks why he still feels ‘empty’ despite having a well-paying job with decent working conditions

0
SINGAPORE: A Singaporean man shared on social media that...

Can Sheng Siong’s share price keep climbing after hitting an all-time high?

0
SINGAPORE: The share price of Singapore’s supermarket chain Sheng...

Singaporean man wants to quit without next job lined up, but others tell him he has options

0
SINGAPORE: A 29-year-old man in Singapore recently took to...

Singapore Politics

WP MP-elect Fadli Fawzi pays tribute to Faisal Manap, holds first MPS at Kaki Bukit

0
SINGAPORE: Fadli Fawzi, who is part of The Workers’...

Harpreet Singh: WP team in Punggol is just getting started

0
SINGAPORE: Harpreet Singh Nehal, who had been part of...

Singaporeans weigh in with wish list for next Cabinet, the next Minister for Defence has big shoes to fill

0
SINGAPORE: We are all guessing on the upcoming Cabinet...

Ng Chee Meng asks PM Wong to exclude him from government role in new leadership lineup

0
SINGAPORE: Jalan Kayu MP and National Trades Union Congress...

© The Independent Singapore