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Cash-strapped Singaporean execs struggle to make ends meet each month: report
Almost 1 in 2 execs have zero savings.
Even high-earning execs are having difficulty making ends meet in Singapore. A report released by Jobstreet revealed that 46% of Singaporeans holding executive positions claim that their salary do not leave them with any savings after spending on essentials.
A staggering 45% also claimed that they were tied down by loans originating from property, car and credit card, and 25% of respondents revealed that insurance is their biggest monthly financial commitment.
Against this backdrop, it was unsurprising that only 5% of respondents mentioned that they have enough money to spend.
When polled on how respondents would cope with the situation, 42% of the respondents preferred to cut down on their spending and 27% of the respondents preferred to pitch for a new job with a higher salary. The remaining percentage of respondents would either get a part time job or make investments for side income.
The survey covered Singaporean candidates holding executive positions across various industries.35% of the candidates surveyed have basic salaries ranging from $2,500 to $3,500 per month.
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