‘The cost of living is over the top’: Foreign worker wonders how local and expat families budget and still save in Singapore

A foreign worker living in Singapore expressed his concerns about the high cost of living, stating that it is "over the top" for both local and expat families to budget and save. On the online platform r/askSingapore, he shared his experience of struggling to make ends meet despite working hard and living in the city-state for an extended period. He mentioned that he has been living paycheck to paycheck and has only S$1,000 set aside for emergencies.

One of the factors contributing to his financial difficulties was his self-employed girlfriend, who he claimed he was supporting as she hadn't been contributing to their shared expenses. He expressed feeling resentful and believed that this situation could not continue indefinitely. Seeking advice from other local and expat families, he asked how working couples handled their household finances, split expenses, and discussed money with their partners.

Many commenters responded by suggesting he either return to his home country or end his relationship with his girlfriend, claiming he was unable to cope with the financial pressures. Some directly advised him to "dump her, save money, get much better pay, and settle down only if you are comfortably able." Others encouraged him to discuss a potential pay rise with his employer, take on part-time jobs, or seek another job with a higher salary.

The issue of foreign workers struggling to make ends meet is not uncommon in Singapore, as some younger locals also take on second jobs to cope with rising living costs. In April, some Singaporeans online also expressed their desire to improve their quality of life as the city remained the most expensive in Asia for both locals and expats.

According to a breakdown of Singapore's monthly cost of living estimated by StashAway's August article, rent accounted for the largest portion of spending, estimated at a minimum of S$800 per month. This figure increases with the size of the household, reaching around S$5,800 per month for a family of four. Food and dining expenses are estimated to be at least S$500 per month for a family of four, with groceries costing between S$500 and S$2,400.