60% of Singapore workers save less than one-fifth of monthly income, while 1 in 4 admit to spending most of salary on entertainment.
By Alythea Ho
Everyone loves year-end bonuses. Spending becomes a joy for some at this time of the year, while others prefer to squirrel away their extra earnings into passive wealth generating sources.
However, when it comes to regular salary savings, it appears that many Singapore workers prefer to spend, spend, and spend.
Close to 60% of Singapore workers save less than one-fifth of their income each month, reveals a survey carried out by the JobsCentral Group, a CareerBuilder company. In terms of spending, close to one-quarter (23.6%) of the workers confessed they would spend the bulk of their salary on entertainment.