Cost of living in Singapore 2022: How much salary to live comfortably here?

Note that the figure in the first row shows the total monthly household expense; this comes to nearly $2,000 per person.

As you'd notice, this leaves barely any headroom in the household budget for savings, investments, insurance and other important financial needs.How much salary do you need to live comfortably in Singapore?If we apply this rule to the figures above, we see that with a four-person household budget of $8,000 per month, a working couple should aim for a combined monthly income of $10,000.

If you're looking to purchase a private car right now, it is advisable to shop around in the second-hand market instead. You can find relatively new models with a healthy COE lifespan remaining, without having to pay an exorbitant price.It is always a good habit to periodically review your discretionary expenses to weed out services and subscriptions you no longer use, and this goes double for the times we're in right now.

It's not about depriving yourself. Rather, it's about spending your money wisely - i.e., prioritising things that make the most positive impact on your wellbeing, and giving up the rest.The next time you come across an ad for a high-interest savings account, take heed. Banks are dangling eye-popping savings interest rates in a bid to attract more customer deposits.

Source: Real Estate Daily Report (realestatedailyreport.net)

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