The cost of living in Singapore always appears as one of the most expensive countries. However, this nation is smaller than other places in the world.
So, what makes the price so high?
Well, one of the certain answers to this question, is how you live your life. The expense of a guy who never leaves the house compared to a social climber is surely different.
But do not worry you can still live a reasonable life in Singapore without having to torture yourself too!
Income & Costs for People Living in Singapore
Before knowing the details of the cost living Singapore, let us check out how much people earn each month.
Therefore, they can see whether their salary is enough or not to live a reasonable life.
1. Average Income
The average income for a full-time employed Singapore resident is around S$4,719 to S$5,000. This nominal already includes the CPF contributions as well.
However, this income is usually earned for those who have been working for minimal 3 years. As for fresh graduates, the normal salary they will receive is around S$2,405 – S$3,000.
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2. Housing Cost
The housing costs become the big cost of living in Singapore with rent each month. It is no secret that renting or buying a house in this country is not cheap at all.
To rent a house or an apartment, a person must at least budget around S$1,000 to S$1,500 per month.
However, with this price, people will get a place with shared facilities.
As for those who have a family and prefer to live in a more private place, then it will cost around S$1,500 to S$4,000.
Otherwise, the cost will depend on the area you choose.
3. Transportation Cost
Luckily in Singapore, there are many public transportations available, from MRT, buses to taxies. Indeed, the monthly pass itself is not cheap or around S$120.
Keep in mind that buses and MRT only operate until 2 am. So, if you go home later than that, then you will probably need to catch a grab or taxi.
4. Daily Expense
Another reason why the cost of living in Singapore can be quite high is that the lifestyle that each people choose.
If you want to spend less, then it is best to buy things from local stores rather than fancy places.
For example, a meal in Suburban Hawker Center can cost only about S$3 – S$4 per meal. However, going to a midrange restaurant can cause you around $30.
See how much difference there is?
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There are many entertainments in Singapore that people can enjoy, both indoor and outdoor. A ticket to the movie can cost S$13 on weekends and S$10 on weekdays.
As for those on a budget who can subscribe to Netflix or YouTube, that will only cost S$12/ month. If you want outdoor activity, then try hiking, cycling, or going on a picnic.
So, by the information above, the cost of living in Singapore to live a comfortable life is around S$2,510/ month. On the other hand, for those with a limited budget, the potential expense is $1,190.
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Will Your Salary Be Enough?
After knowing the details of expenses, workers can count whether their salary will be enough or not to live in Singapore.
So, before moving into this country, make sure of how much you will earn in a month.
Finally, check out the cost of living in Singapore based on the lifestyle you choose and see whether it is enough or not.