For people who having been buying stocks during this market plunge, you might be feeling the effect of being low on cash. (or holding on to stocks that keep dropping in price day after day, and week after week)
This is on top of your daily responsibilities and the need to spend money for your daily necessities, it could be tough.
With the recent Valentine’s day and Chinese New Year, we all could feeling the effect of having less cash in your bank account (if you are the one buying the gifts and giving out the Ang Baos).
Just how expensive is Singapore? (read here)
Come to think of it, be it big or small things, cash is getting hard to come by. Prices have been rising although the economy is bad.
Here are some recent news (see below):
Food prices rise. The Koufu foodcourt near my place has recently raised the price of the desserts, after Chinese New Year.
- Hawker food prices up by 10-20%: CASE poll (read here)
Bonus has been reduced for this year during to the slow down in our industry.
- Civil servants to get year-end bonus of 0.65 month amid slow economic growth (read here)
Then again, be happy that you have a job. Retrenchment and downsizing is in the news:
- More retrenched, shorter work weeks in 2015 due to slowing economy: NTUC (read here)
- NTUC: Expect 31% more retrenchment this quarter as Singapore goes into recession (read here)
- Barclays laying off 100 employees in Singapore (read here)
- Layoffs for Rakuten as it closes marketplaces in Singapore, Malaysia and Indonesia (read here)
- Yahoo Singapore staff who were laid off told on Thursday (read here)
- Chinese New Year Ang Bao: For instance, a hongbao for nephews and nieces can range between $8 and $28 for someone earning less than $30,000 a year. Last year, an online survey of 500 people by the United Overseas Bank, and an informal poll by The Straits Times, determined that the going rate was $8 per packet – up from $4 to $6 the year before.
- Wedding Ang Bao: Take for example in Goodwood Park Hotel, if you are planning to hold your wedding banquets from 1 October 2014 to 30 September 2015, the weekend wedding banquet package for a 9 course dinner would cost you $1468++. In 2013, a similar package like this cost only $1388.
And many more:
11 Things That Make Singapore The Most Expensive City In The World (read here)
Here is a funny video for all you guys out there. :p
Hmm… wedding anniversary coming up…. haiz…