Does this entail bigger savings?
According to a survey by JobsCentral, 30.8 per cent of Singapore workers surveyed admitted having additional sources of income to supplement their full-time salary.
Moonlighting takes the lead, with 30.5 of these Singapore workers citing part-time jobs as their preferred means of additional income. Others rely on passive wealth growth, like dividends from stocks/bonds (26.8%), and property rental income (12.1%).
As for savings, 55.5 per cent of Singapore workers save less than one-fifth of their income each month, while another 5.2 per cent do not save at all.
In terms of spending, the majority of the workers spend the bulk of their salary on necessities like food, transport and allowances for parents or children. 23.6 per cent confessed they would spend the bulk of their salary on entertainment, while 15.1 per cent said they would spend the majority of their salary on travel.
More From Singapore Business Review